Apex, N.C. — Electric vehicles are better for the environment, but are they better for your budget?
The short answer is yes. However, making the switch to an EV involves time. Oftentimes, the cost of the car is more than a traditional vehicle.
Schmella Barney has never been one to need the latest or greatest in technology. The Apex mom will gladly hold on to a cellphone for as long as it will last. Last year, Barney bought a Tesla and tells WRAL 5 On Your Side that she will never go back to a gas run car.
“I belong to a group called ‘Black Girls with Teslas.’ We have a local Raleigh group,” Barney said. “So every once in a while, we will meet up. It’s just to have a good time with people who are loving their Teslas as much as I do.”
Barney told WRAL 5 On Your Side that she is happy she purchased her Tesla ahead of the major shortage of electric vehicles and the much-discussed surge in gas prices.
“Every time I pass a gas station I’m thinking, ‘I’m so glad I got one of these,’” Barney said. “My husband uses two gas run vehicles and paid about $400 a month when gas prices were especially high.”
New data published by Consumer Reports shows that Americans have never been more interested in making the switch to an electric vehicle.
Mary Greene helps lead the sustainability coalition at Consumer Reports. Green points to research which shows that switching from a gas vehicle to an EV will save you $800 to $1,000 on fueling costs per year. When it comes to car maintenance an EV owner on average will save $4,600 in maintenance costs for the lifetime of the vehicle.
“Electric vehicles will start to become the norm on our roads,” Green said.
The main roadblock to getting an EV right now comes down to supply.
WRAL 5 On Your Side called around to several dealers selling electric vehicles in the area to compare costs and availability. Leith Volkswagen of Cary told WRAL 5 On Your Side that their ID.4 models range from $43,000 to $52,000 in price, and you’ll probably wait about eight to 10 months for a new one.
At Fred Nissan of Raleigh, a Leaf costs about $38,000. A salesman told WRAL 5 On Your Side they are tacking $5,000 on to that price because of low supply and high demand. There is currently one Leaf available, but it won’t be ready until September.
Nissan is also coming out with the larger Aria. It will cost about $60,000.
The Chevy Bolt is one of the most affordable electric vehicles. The folks at Hendrick Chevrolet told WRAL 5 On Your Side that the wait time is about two to six months. MSRP is $32,495, but Chevy is offering a discount of $5,900 on their electric vehicles. That discount will expire this year.
Barney has a dual motor Tesla Model 3. She paid about $50,000 and waited about a month for it early last year. If you go to Tesla’s website and search for the vehicle, it’ll cost you more than $60,000 and you might not get it until the start of next year.
Barney tells WRAL 5 On Your Side that she paid $500 for a charger, and she pays about $30 extra in electric bills month.
There are several financial incentives and reimbursements for purchasing an electric vehicle, Consumer Reports has a full list here.