Hello, friends. Welcome (back) to our blog here at eTags. This is the place you’ll find us discussing just about everything that relates to the automotive world. And today we’re focusing on the world of EVs…specifically how to find the best deals on your next electric car, truck, or SUV. We’ve compiled a handy list of tips to help guide you towards savings. Ready? Here goes.
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1. Regional Government Incentives
While the federal tax credits on EV purchases that were implemented in 2022 have recently expired, there are still several states – like California – offering bonuses for people in the market for electric vehicles. These incentives for the purchase of EVs come mostly in the form of rebates, but also as tax exemptions and as discounts on charging equipment. Check with your state to see if there are any current offers on the purchase of an EV.
2. Dealer Promotions
Car dealerships know that EVs are trending, and often feature deals and promotions on these vehicles, especially towards the end of the year when they need to clear inventory to make room for newer models. Promotions can vary from cash savings to special finance rates. A little bit of research around local (or out-of-state) dealerships can keep you in the loop as to what sales and incentives are happening.
3. Price Comparisons
Shopping around is like getting a second opinion – we never just go with the first option, because it’s smart to see what’s out there. Online resources like Kelley Blue Book, Edmunds, and TrueCar can not only help you compare prices and ensure that you don’t overpay, but also educate you on the value of your potential vehicle. And armed with this knowledge you can make an informed choice when it comes to selecting your next EV.
4. Timing
Timing is everything, right? Well, when it comes to buying a car, the right time can mean the difference between paying full price and getting good deal. The end of a financial quarter or year is usually the most opportune moment to buy a car: this is when dealers need to meet sales targets and are therefore more apt to be flexible with negotiation and prices. And as we mentioned before, when the new models come in, there is extra impetus for dealerships to clear out old models…which often leads to significant discounts.
5. Pre-Owned
An oldie but a goodie: buying used. Nowadays, a pre-owned car is just about up to the standards of a new one, what with all the required certification. And that means that for a lower price tag, you could purchase the EV you’re dreaming of without sacrificing quality or safety. Pre-owned vehicles can be a great option for an EV enthusiast who’s looking for a more economical way to shop, especially since they often include warranties and inspections.
6. Home Charging
Okay, this one is for after you buy your EV, but still… Beyond the initial purchase price, electric vehicles can mean savings in general. For example, charging your EV at home during off-peak hours can reduce electricity costs, which can bolster your savings in the long run.
And there you have them: the tips for savings when it comes to buying your next EV!
