It seems that everywhere you turn, car buyers come face to face with the idea of an EV, (electric vehicle) purchase. While on the surface it may seem like a win-win situation to purchase an EV for your next car, it is important to consider some of the reasons why an EV might NOT be a good purchase in the long-run. Here are 13 reasons why you should consider delaying an EV and perhaps consider a Honda Hybrid.
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1. Initial Cost: EVs often have a higher upfront cost compared to traditional gasoline-powered vehicles. So even though you won’t be having to put expensive fuel in your car, it may take a while before those savings are offset when you consider the higher monthly payment.
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2. Limited Range of Electric Vehicles (especially when towing): While EV range has been increasing steadily, some models still have limitations on how far they can travel on a single charge, which might be an issue if you plan to use your car for a purpose other than commuting to and from work or errands around the Macon and Eatonton area. There is even less range when you are towing.
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3. Charging Infrastructure: The charging infrastructure for EVs is still developing, and access to charging stations may be limited, especially in rural areas. An EV Road trip may be tough to accomplish under these circumstances.
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4. EV Charging Time: Even with fast-charging stations, it can take significantly longer to recharge an EV compared to refueling a gasoline vehicle. Many take 30 minutes to charge, while you can fill your tank with fuel in just a few minutes. This might not be convenient for those with busy schedules or long commutes.
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5. Home Charging of EVs can be challenging: A standard 110V plug will likely be insufficient for charging your EV. You will need to have a Level 2 charger installed, which will be another up-front cost to consider.
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6. Depreciation: EV technology is advancing rapidly, which can lead to quicker depreciation compared to traditional vehicles as newer models with better technology and longer ranges become available. While Honda vehicles generally are known to hold their value quite well, the EV market is changing at a pace where buyers want the most efficient models.
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7. Limited Tax Saving Options: There are quite a few hoops to jump through to claim your tax credit and restrictions in place. And it only applies if you owe the government tax money. You will not get a refund from the government if you don’t already owe them money. And not ALL EVs qualify. Source: EV Tax Credit 2024: How It Works, What Qualifies - NerdWallet
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8. Cold Weather Performance: EVs can experience reduced range and performance in cold weather due to factors such as battery efficiency and heating demands. While living in southern cities like Augusta and Milledgeville it doesn’t dip too low, performance can still be affected.
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9. EV Battery Replacement Cost: EV batteries degrade over time and will eventually need to be replaced, which can be a significant expense. Though Honda has a good warranty (8 years or 100,000 miles) it is something to consider if you plan to keep your Honda EV for a decade or more.
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10. Infrastructure Strain that EVs make: A widespread shift to EVs could put strain on the electrical grid, especially during peak charging times, potentially leading to increased electricity costs or the need for grid upgrades.
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11. Electric Vehicle Maintenance and Repair Costs: While EVs are touted as having less maintenance generally have fewer moving parts than traditional vehicles (no oil changes, drive belts, tune-ups or spark plugs to mention a few items), repairs and maintenance can still be expensive, especially for specialized components like batteries. This is especially true if you are in an accident and need car repair. There are a limited number of mechanics that work on EVs, so it can be pricier to fix.
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12. Resale Value Uncertainty of EVs: As mentioned previously, an EV can depreciate faster than gasoline model cars. So, if you have to sell your car and are used to Honda cars ease of selling, you may not get the same value you have counted on.
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13. Insurance Costs: Insuring an EV can sometimes be more expensive than insuring a comparable gasoline-powered vehicle due to factors such as higher repair costs and perceived risk associated with newer technology. You may want to find out the cost to insure an EV from your current insurance provider prior to purchasing one.
If the cons of buying a Honda EV have given you pause, a fantastic alternative are Honda Hybrid vehicles. While they are not fully electric, they offer excellent fuel economy and hold their value well, giving you peace of mind. You will never have charge anxiety or have to find a specialty mechanic for maintenance and repairs in the Macon or Madison area. We’d love for you to come in and test drive a Honda Hybrid today!
