11 Reasons to reconsider buying an EV (and why a Hybrid may be better)!

Limited Range: EV range has been increasing steadily, but there are still limits on how far they can travel on a single charge, which might be an issue if you plan to use your car for a purpose other than commuting to and from work or errands around the Charleston and Beaufort area.  

Charging Infrastructure: Thinking about taking that Jeep EV on your off roading trip? If you aren’t staying close to home, you may run into issues finding a charging station. The infrastructure for EVs is still developing, and access to charging stations may be limited, especially in rural areas.  

Charging Time: Fueling up with gas takes minutes. Many fast-charging stations take 30 minutes to charge. This might not be convenient for those with busy schedules or long commutes. 

Home Charging: You will need to have a Level 2 charger installed, which will be another up-front cost to consider. The average cost is nearly $1,000. (source: How Much Does It Cost to Install an EV Charger at Home? (2024) - Bob Vila) 

Initial Cost: Even though you won’t be having to put expensive fuel in your car, it may take a while before those savings are offset when you consider the higher monthly payment of an EV vs a gasoline car.  

Limited Tax Saving Options: While we often see the $7,500 tax credit for an EV, it only applies if you owe the government tax money. You will not get a refund from the government if you don’t already owe them money. Also note that not all EVs qualify for the tax credit. However the Pacifica PHEV and Jeep vehicles do for 2024. Source: EV Tax Credit 2024: How It Works, What Qualifies - NerdWallet 

Battery Replacement Cost: EV batteries degrade over time and will eventually need to be replaced, which can be a significant expense.  

Maintenance and Repair Costs: While EVs generally require less maintenance than traditional vehicles (no oil changes, drive belts, tune-ups or spark plugs), repairs and maintenance can still be expensive. As some owners have found out, there are fewer mechanics to work on these vehicles and repairs after an accident can be costly. 

Cold Weather Performance: EVs can experience reduced range and performance in cold weather due to factors such as battery efficiency and heating demands. While living in southern cities like Charleston and Hilton Head it doesn’t dip too low, performance can still be affected.  

Resale Value Uncertainty: An EV will usually depreciate faster than gasoline model cars. This is because they are constantly evolving to be much more efficient with each year. So, unlike a gas model car, these can lose value quickly. That’s a consideration if you often trade in cars after a couple years.   

Insurance Costs: Insuring an EV can sometimes be more expensive than insuring a comparable gasoline-powered vehicle due to factors such as higher repair costs A good idea is to find out the cost of insuring an EV from your current insurance provider prior to purchasing one.