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How often can you buy an electric car?
If I just bought my first electric car last year, how much time should I keep it before replacing it?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
If you just bought an
electric cars
, you technically have anywhere from 10 to 20 years before you would need to replace it or replace the battery. Electric cars are federally mandated to have a warranty on the battery for 8 years or 100,000 miles. If you want to replace it before that warranty runs out, you have plenty of time.Electric cars do depreciate fairly quickly compared to gas-powered cars, so if you want to get a good resale value out of your old car, you shouldn’t wait more than a few years.
This is especially true for early-generation electric cars, but the gap closes each year that electric car technology gets more advanced.
If you’re thinking about buying a new electric car, you can always save money on your
car insurance
plan with the Jerry
app. Jerry gathers personalized insurance quotes from 55+ top providers to deliver you the best rates and coverage options.The savings don’t stop there. Before every policy renewal period, you’ll be presented with new competitive quotes, which means you’ll always have the best coverage at the best price.
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- Gregory R.
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