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Why Canadians should give EVs a second look

Why Canadians should give EVs a second look

You may drive a fuel-efficient hybrid vehicle, but carbon taxes are eroding your savings due to increased gas prices.

This price approach devised by the Trudeau administration is intended to compel people to transition from gasoline-powered to electric automobiles.

Anti-tobacco initiatives, which increased the cost of cigarettes to reduce the number of smokers, provide the rationale for this.

While that method works for smokers, smoking is a choice, whereas the majority of Canadians must drive to work, so they must choose between purchasing an all-electric vehicle or continuing to pay a fortune for gas.

Budgeting for the acquisition of an electric vehicle

There is a common misperception that purchasing an electric vehicle costs over $80,000.

Luxury versions can easily reach $80,000, and the same is true for gas-powered vehicles.

You should probably budget between $35,000 and $40,000 for the purchase of an electric vehicle.

There are financing options available since, let's face it, the average Canadian will not have that much cash in the bank.

The estimated amount of cash you will save when you make the switch to an electric vehicle will make you smile.

If you compare the average cost per kilometre of gasoline to the cost of traveling the same distance in an electric vehicle, the decision is obvious. The savings amount to cents on the dollar.

A solid credit score is required to qualify for a competitive auto loan

The number of lenders that provide financing for the purchase of electric vehicles is growing, but it will be some time before it approaches the sheer number of financial institutions that offer auto loans for vehicles with internal combustion engines.

Your credit score is the most important factor in determining your loan alternatives.

For the best potential conditions, a credit score of 700 or better is required; join up with TransUnion and Equifax for free access to your credit score.

If you have credit problems, you can still obtain an auto loan in Georgetown, but you should expect to pay a higher interest rate.

Overall, interest rates are rising; therefore, you must do all possible to maintain a high credit score.

Where to obtain the best electric vehicle loan in Georgetown

You must visit a local car dealership to obtain the greatest rate on an electric car loan in Georgetown.

The dealership will offer a broad selection of both new and old electric vehicles. Even if your credit score is below average, the dealership will be able to assist you in obtaining an auto loan.

You must immediately contact the dealership; the longer you delay, the more money you will spend on gas for your current vehicle.

We need to face the music, the clock is ticking, and gas prices are only going to increase; if you continue to procrastinate, inflation is going to eat away your buying power, making it even more difficult to budget for an EV, so go to the dealership today.

We will use all our skill and experience to deliver the lowest possible Georgetown auto loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.

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