If you’ve already made up your mind on buying an electric car but haven’t figured out when is the perfect time to buy an electric car, here’s a few tips for you.
When buying anything big like an electric vehicle or a car in general, it is important to take a step back before the purchase and really assess as to whether or not it is the perfect time to buy an electric vehicle. While most of these purchases are done through financing or through credit, it is still important to be absolutely sure that the purchase will not affect you in a negative way.
Here are a few things that will help you assess when is the perfect time to buy an electric vehicle:
- Other debts
Before adding another purchase to credit, it is important to assess how well you are handling existing credit in your account. Any purchase made with credit means another commitment and if you’re already swamped with a number of commitments, this could add additional stress or make things harder to pay. This means that the monthly liabilities would increase and depending on your salary, this might give you a hard time.
- What percentage is your salary of your ideal electric vehicle
It’s important to make sure that the monthly commitment is only a low percentage of your salary just to be safe and to have more room for both emergencies and other purchases. A great way to do this assessment is to see if the electric vehicle’s monthly payments would cost lower than at least 30% of your monthly income. Anything above 30% is way too big for a car. To avoid this, you can compromise. Although Tesla is one of the most sought after brands, there are still a number of electric car companies out there that cost less than $30,000.
- Are there charging stations nearby?
Location is also a huge giveaway. One potential problem that could ruin your electric vehicle experience would be if the nearest charging station is way too far and out of the way of your usual route. Although having a charging station at home is an option, it is not always the best decision to rely solely on the makeshift charging station at home. In fact, this should be more of a backup as opposed to the actual source of energy.
- What use do you have for the electric vehicle?
Although electric vehicles are capable of quite a lot, it’s also important to note that they still have limitations. Although they might look pretty sweet especially when additional designs like LED lights are added to the interior, these electric cars are still not that capable of really long distance travels. This is one of the problems with electric vehicles as opposed to conventional gasoline or diesel vehicles since bringing extra gas is very possible. As for electric vehicles, it is important to find a nearby charging station every once in a while.