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How an electric car could save you money?
I really want to buy an electric car to be more eco-friendly, but the high price tag stops me every time. Could an electric car really save me money over time?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Looking into buying a new car is an exciting time, and choosing to go
electric
is a great eco-friendly
choice. An electric car can possibly save you money in a few ways including:- Tax creditsand incentives. Buyers of a new electric car can get up to $7,500 in federal tax credits. In some states, eco-friendly and fuel-efficient drivers could be eligible for even more benefits and incentives.
- Cheaper fuel. No matter how you slice it, the cost of charging an electric car is going to be less than you would spend fueling up for an equal amount of mileage at the gas station.
- Fewer repairs. Electric cars are less mechanically complex and have fewer moving parts than a standard combustion-engine car, which may save you money on repairs over time.
Another way you can save money on a new car is with the
Jerry
app. Sign up today and find out if you’re getting the best deal possible on your car insurance
plan. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance. We’ll even help you cancel your old policy!
Every time your policy comes up for renewal, Jerry will reevaluate your plan and send you new quotes, so you’re always getting the coverage you want at the best price.
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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