Should I wait to buy an electric car?

I’ve been thinking about buying my first electric car because I don’t drive very often and it would save me tons of money on gas and repairs, but I don’t know if now is the right time considering the supply chain issues and parts shortages. Should I wait to buy an electric car?

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Answer provided by
Allison Stone
Answered on Aug 04, 2022
In some ways, now is a great time to buy an electric car. There are more options on the marketplace than ever, and charging networks are growing to be more robust and accessible across the world. Whether now is the right time for you just depends.
A few things to take into consideration are:
  • Demand is high: While it is impossible to predict the future, EVs are in high demand right now, and getting your hands on one could be more difficult than usual.
  • More automakers are producing EVs: As more automakers ramp up EV production, more affordable options for electric cars will become available.
  • Charging networks are still growing: Some areas, like the San Francisco Bay area and Seattle, Washington, already have robust charging networks, but that’s not true everywhere just yet. If your area is still lacking charging infrastructure, it could be worth it to wait.
Essentially, the good news is that even if you do decide to wait, EVs are projected to only get better and more accessible as time goes on. One thing you don’t have to wait for is saving on your car insurance plan.
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