Is now the cheapest time to buy an Electric Car 2024?

Welcome, EV superheads!

Looking for a new car but caught between an EV or the standard petrol?

Find out if now is the right time to buy an electric vehicle.

Let’s dive in…

In Today’s Electric Car Rundown:

💸 Save up or splash the cash?

🚨Gas per gallon explained

😎 The ‘EV Tax Credit’

✅ The green coupon

P.S We’re proud to say this is not a sponsored post and was written by a human, all views are of our own and not ChatGPT 🥰

🔦 Spotlight Electric Vehicle of 2024

Mercedes EQS Electric Sedan

The latest in the range of EV vehicles from Mercedes, covering a range of 481 miles with an 80% charge in 31 minutes. The first in Mercedes’s EV high range offering luxury and speed going from 0 to 60 mph in just 5.4 seconds. Still new to the market, hence slower than its competitor Tesla’s Model X (2020) which accelerates in only half the time.

💳 Should I buy an Electric Vehicle in 2024?

✨THE FUTURE IS HERE✨

Ah, electric cars. The shiny, back-to-the-future chariots give us hope we’re getting closer to flying cars. They zoom past you in silent mode, leaving a trail of zero emissions. However, until recently, owning an electric car has felt like a dip in your wallet. Amid the panic to go all-electric by 2040, it’s safe to say if you’re thinking about buying an electric car, you just might be in luck.

Why, you ask?

Well, prices are lower, and incentives are juicier than a watermelon at a summer picnic.

How does this relate to GAS prices?

You see, the demand for electric vehicles is directly correlated with gas prices. Over this summer, gas prices have shot up faster than Donald Trump’s heartbeat in court. For example in California, the average price per gallon has surpassed a jaw-dropping $4.50 while the Gulf Coast is getting off slightly easier with an average price of $3.20. The Brent Crude – a fancy global benchmark for the measurement of oil -is hovering at around $75 per barrel. Just 4 years ago, we were hovering at around $35 per barrel.

That’s quite the difference!

So whilst gas prices go up, the demand for the electric vehicle market increases too.

🚨 EV Tax Credit

It’s also important to not forget ‘The EV Tax Credit’ incentives offered by the federals. The feds are practically throwing money at you to go electric! The stimulus offers credit for up to $7,500 for new EVs and $4,000 for use- EVs respectively.

And the best part?

You don’t have to reach deeper into your savings account as the US Department of Treasury provides the tax discount as a point-of-sale. It’s like a massive coupon for going green! However just one small requirement, for the vehicle to qualify for the discount, it must meet the new EV manufacturing requirements.

But think of it as a legit eco-friendly check to ensure your vehicle truly is Co2-friendly. If you’re interested to see if your state qualifies for the tax incentives, have a quick search here.

Go Green!

Sure, you might have to explain to your grandma that “charging” doesn’t mean calling tech support. But hey, if not now, when? Seize the charge, and get your hands on that zippy, battery-powered dream. After all, even Tesla’s starting to look like a budget option!

THE FUTURE IS HERE!