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Would you Save Money by Buying an EV in Canada?

Would you Save Money by Buying an EV in Canada?

Even if you have never watched the news or read anything about the global economy, if you have been to the gas pump in the last couple of weeks, you know there is something wrong with the world. With the state of gas prices, you'll surely save money by buying an EV in Canada.


We are paying over two bucks a litre for gas, and that is before the upcoming long weekend, which will lead to an uptick in gas prices that mysteriously coincide with nice weather.


If you are tired of paying an arm and a leg for gas, it may be time to swap your gas guzzler for an all-electric (EV). Still, before making any decisions, you should give serious thought to the following.


Not all EVs are created equal


If you conducted a survey at your local Tim Hortons and asked people to name the top 5 electric cars in Canada, they would have a tough time.


The all-electric market is gaining traction in terms of the sheer number of people who are buying them.


Still, there is a considerable amount of work when it comes to marketing the various makes and models that are available.


Range anxiety is a real issue


One of the main reasons that most Canadians are reluctant to go out and buy an EV today can be summed up in two words “range anxiety.”


With a gas vehicle, you can easily judge how long you can drive before it is time to fill up with EV’s the software that projects the range is good, but if you are like most Canadians that live in rural areas where cold is a real issue, then the range of your EV will be impacted.


Along with the range, another item that is impacting prospective car buyers is the availability of charging stations.


This is not a major issue if you live in an area where there are many chargers throughout your area.


If you are living in a rural area, the lack of charging stations. The Government of Canada and most gas stations are working on installing these charging stations, but it will take some time before there is total coverage all over Canada.


Financing the purchase of your new EV


The used EV marketplace is just starting out; it will take a few more years before there is a substantial number of vehicles to choose from.


Your best option is a brand-new EV; there are many great models to choose from, and you will need good credit and a stable job to qualify for a car loan in Waterloo.


Since this is your first time buying an EV, you should go for a test drive to get a “feel” for the difference between an EV and a gas-powered car.


You will be amazed by the amount of torque and pep available. By working with a local car dealership, you will have access to the best financing terms and peace of mind knowing that you are getting a great deal (The dealership will help you address any credit issues you may be facing at the same time).


Gas prices are going to continue to rise; the sooner you make the transition to an EV, the more cash you will save.


We’d love to help you save money by buying an EV. Simply fill in the form below and we’ll get back to you ASAP or see our selection of used cars at our Burlington dealership. 


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    Categories: Auto Loan