Decide to save money in 2023 with Going Electric

Reduced maintenance costs

A fully electric car requires minimal maintenance. Cleaning the windshield requires only the rotation of the tires and liquid. Say goodbye to oil changes, exhaust checks, spark plugs, oxygen sensors and so on down the list. Less maintenance means that electric vehicles can save thousands of dollars, especially if they have been replaced with older gasoline-powered vehicles that are past their useful life or require frequent repairs.

Regenerative braking not only increases autonomy, but also reduces the load when braking. This could mean changing your brake pads more frequently, saving you even more money.

By most estimates, owning an electric car costs at least one time less than an internal combustion vehicle, and saves about $1,000 per year. Low-maintenance vehicles are also more reliable and help EV drivers stay calm and get where they need to go.

92% of those most likely to buy an electric car say that car reliability is the most important factor and that they tend to do well in this regard. This is because electric motors move much less than gasoline engines and therefore only require a simple single speed transmission. In addition, electric vehicles avoid many potentially harmful components such as refrigerators, exhaust systems and catalytic converters.

Federal tax credits.

The $7,500 federal tax credit (maximum 200,000 vehicles for the automotive industry) is still available for most electric vehicles. Some car manufacturers, such as Tesla and GM, are approaching this limit, reducing motivation. Learn more about the current availability of this incentive. Note that the tax must be high enough to maximize the credit, as this is a tax credit, not a deduction. However, this can be a significant financial benefit for the drive.

Residential Charging Discounts and Off-Peak Prices

Once you purchase an EV, the savings don't stop. Many states, cities and utilities are offering subsidies and rebates to support home electric vehicle rates. This can save you even more money. 

HOV lane access and reduced fares

Electric vehicles are less polluting, which allows us all to save on fresh air and a healthy lifestyle. For this reason, many cities and states are opening up HOV lanes and lowering fares for eco-friendly vehicles such as electric vehicles and plug-in hybrids. 

Save time.

Finally, time is money. Electric driving saves time. There are no other routes to gas stations, fewer visits to dealers, and less time spent in HOV lanes. This can be to your advantage.

We hope these incredible savings will convince you to switch to electricity. Realize your New Year's plans!