Facts About Electric Car Prices

Electric car prices is a very crucial factor that you should always consider when planning on buying these electric-powered vehicles. They are also a usual topic of debate among proponents and critics of electric cars. Several people think that high electric car prices is a huge obstacle in making these types of vehicle a conventional mode of transportation. However, proponents argue that the costs of electric cars are still continuing to decline and becoming more affordable as many automakers are already producing them.

Here are several significant information that is worth knowing about electric car prices:

One important thing that you should remember about electric car prices is that they often have a higher price tag than their gasoline-powered counterparts. As a matter of fact, the price of a brand new electric car is more than 80% the price of a gasoline-powered car that is of the same caliber. The major reason for the high electric car prices can be traced to their batteries. The batteries are often excluded in the purchase price and they are usually leased on a monthly basis. It is not recommended to purchase outright batteries with the car because they have to be replaced in 3 to 5 years.

One more important aspect in electric car prices is the additional costs from setting up recharging equipment. The standard charge points costs about $800 to $3,200, depending on the complexity of the installation. However, these standard charge points take 20 hours to fully charge an electric car. On the other hand, fast chargers that make use of 240V can fully charge electric cars in only just 3 to 4 hours. However, they are more pricey as they have a price range of about $16,000 up to $48,000.Z

While the recent electric car prices are still too costly for most people, some governments around the world are providing incentives to promote the use of these green vehicles. For instance, some countries offer road tax exemptions for electric vehicles. In addition to that, electric vehicles have very low fuel costs as electricity, unlike petroleum, do not have wildly unpredictable prices. However, do not consider that its low fuel cost will immediately compensate for the high electric car prices. It would still need many years before the gasoline savings can pay off the luxurious price tag of these cars, taking into consideration today’s prices.