Electric Vehicles Are Not Only Environmentally Friendly They Are Also Wallet-Friendly

Electric Vehicles Are Not Only Environmentally Friendly, They’re Also Pocket-Friendly

By Happy Benson

Electric vehicles are good for the health of the earth, as they don’t emit any harmful substances into our environment. But carbon isn’t the only thing these vehicles don’t emit, they are also economical with their emission of money from your pockets. If you care about the wellbeing of our planet, and care about the health of your wealth, then getting an electric vehicle is a no-brainer.

Here’s a look at how friendly an electric vehicle can be to your pocket.

Time is money. And an electric vehicle saves you money by saving you time. Imagine how much free time and money you would have if you never had to drive to a gas station and wait in line to fuel your vehicle with expensive gasoline. With an electric vehicle, you simply have to drive home, plug in and charge, and you are ready to go.

You can finally forget about regular maintenance visits to the mechanics for oil change and tune-ups, and you never have to buy oil filters, spark plugs, engine oil, or timing belts.

You will also save money by charging your car with electricity rather than fueling it with gasoline. Electricity is cheaper than gasoline. According to EnergySage, “A 2018 study of the University of Michigan’s Transportation Research Institute found that… the average cost to operate an EV in the United States is $485 per year, while the average cost of a gasoline powered vehicle is $1,117.” That is a difference of $632 left in your pocket per year. Convert this amount to your local currencies, and you will see what a great statement the transition to EV can make on your bank account.

Governments around the world are incentivizing the adoption of electric vehicles. They have also given concessions in the areas of tax breaks, a free pass at toll gates and HOV lanes, and a hefty reduction in import duties. For most African countries, the cost of import duties could sometimes surpass the cost of the vehicle imported. This means huge upfront savings.

Furthermore, longevity of electric vehicles earns it yet another high mark as a money saver. As of now, electric gas cars travel up to 4000, 000 miles, which is twice the distance that a gas car can reach in its life expectancy. The longer you keep driving your vehicle without major issues, the more money you save.

The advent of electric vehicles has created such buzz and excitement that hundreds of non-traditional automakers are jumping into this manufacturing industry. The level of competition and expertise in various technological fields by corporations that have demonstrated excellence in their respective fields—for instance, Apple, Sony, and Kalashnikov—are drawn into a sharp focus. But, most importantly, to consumers, it also means competitive pricing, which ultimately translates to affordable price points.

Transitioning to an electric vehicle is a logical choice if you are sympathetic to the earth and to your pocket and don’t mind looking stylish and futuristic in doing so.