What Is The Best Electric Car

How Much Is The Federal Tax Credit And How Does It Work

The federal EV tax credit is only available to individuals reporting adjusted gross incomes of $150,000 or less, or $300,000 for joint filers. The amount you qualify for is based on both your income tax and the size of the electric battery in the vehicle, among other factors like whether the battery components come from North America.

Language around the $7,500 credit includes things like “may” and “up to” — so, you may qualify for up to a $7,500 in federal tax credit for your electric vehicle. If you purchased the Ford F-150 Lightning and owed $3,000 in income tax this year, then you’d receive that as a federal tax credit. If you owed $15,000 in federal income tax, you would qualify for the full $7,500 credit when doing your income taxes.

That’s right, you can cut up to $7,500 off your taxes next spring if you buy an EV now.

You cannot simply go out to a dealership and expect it to give you these savings up-front. However, according to the US Department of Energy, starting in 2024 you should be able to get your credit at the dealer.

How Does A Federal Tax Credit Work For My Ev

The idea in theory is quite simple All electric and plug-in hybrid vehicles that were purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500, according to the US Department of Energy.

With that said, you cannot simply go out and buy an electric vehicle and expect Uncle Sam to cut $7,500 off your taxes in April. In reality, the amount you qualify for is based on both your income tax as well as the size of the electric battery in the vehicle you own.

Now, thanks to the freshly inked Inflation Reduction Act, there are a lot more parameters to be mindful of, like the requirement that the EV must be assembled in North America for instance. We have dug into those new terms more below.

To begin, heres how the Federal EV tax credit currently works.

Social Benefits Of Electric Cars

Electric vehicles emit fewer carbon dioxide emissions in urban areas than fossil-fuel vehicles, allowing for an improvement in air quality. People who suffer from respiratory diseases such as asthma will benefit greatly from this. Nonetheless, the power grid transports their emissions.

What are the societal implications of electric cars? Electric cars are an excellent way for people to reduce their carbon footprints while still having zero-emissions performance. Electric vehicles consume less energy than traditional gasoline vehicles because they are so efficient. Electric vehicles, in addition to being less prone to maintenance, lack the complex set of moving parts found in a typical internal combustion engine. A car battery is a type of battery with a large capacity for storing energy. In Tesla batteries, the largest are 100 kWh in size, and the smallest are 30 kWh in size. Because electric vehicles do not require oil for fuel, there is less need for imported oil.

Electric cars can be purchased for a variety of prices around the world. A house in the United States, for example, can be purchased for around $30,000. Some models cost more than $100,000 or even more. Cars that run on electricity have a double advantage: they reduce global warming and pollution while also saving money for drivers.

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What To Look For In An Electric Car

Buying a new car is a very personal thing, and electric cars are no exception to that. What you want to look for is all very dependent on your circumstances and what you need the car to be able to do. That’ll help you narrow things down and work out which EV is right for you.

If you have a large family, and need to move a bunch of kids and their stuff around on the regular, you’re not going to want a compact vehicle. Likewise if you only need something for short trips and getting groceries home, you don’t necessarily need a big long-range SUV.

As for range, it’s easy to insist that more range is always better but that’s not always the case. Having that option is helpful, but if you commute under 50 miles a day and rarely take long road trips, then a car with 300 miles of range isn’t essential. It’s nice to have if you can afford it, but it shouldn’t put you off. The same is true for performance. super-quick cars are fun to drive, but how often are you going to take advantage of that?

Finally, supply chain issues may limit your choice and force your hand. Automakers have been struggling to produce cars, especially as demand picks up, but that doesn’t mean they’re impossible to buy. Some dealers and automakers will have new models in stock, you just won’t get much choice in what features are included.

Why Are Electric Vehicles So Expensive

Electric vehicles continue to be more costly than their gas counterparts due to battery costs. Although EV battery prices have dropped dramatically, an EVs battery remains its single most expensive component due to the materials that make up the cathode in each lithium-ion battery. These cathodes are typically made of expensive metals like lithium and cobalt.

Some automakers like Tesla continue to look for ways to lower battery costs. For example, Tesla has done this by building its own battery factory, Gigafactory 1, in Nevada.

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Are Electric Cars Better For The Environment

According to the U.S. Environmental Protection Agency, electric vehicles typically operate with a smaller carbon footprint than gasoline cars, even when accounting for the electricity used for charging. Electric cars dont burn gasoline, and because of that, they produce no tailpipe emissions. There are environmental costs of manufacturing, assembling, and mining materials for lithium-ion batteries for EVs. However, the EPA reports that even with the environmental costs, over the entire lifetime of an electric car, total greenhouse gas emissions remain lower than gasoline cars. They said, Thats because EVs have zero tailpipe emissions and are typically responsible for significantly fewer during operation.

Which Is Better To Buy A Fully Electric Car Or A Hybrid

The choice between a fully electric car vs. a hybrid depends on your needs and budget. Although you could pay slightly more for a fully electric car, you can offset the price of certain plug-in hybrids and electric cars thanks to tax breaks and pricing incentives.

With a fully electric car, you dont need to pump gas, and you would be more likely to save money on certain maintenance since EVs do not use an internal combustion engine or oil.

Hybrids and plug-in hybrids provide no impediments when traveling long distances. Driving an EV requires additional time for charging. Extreme weather can also affect battery range and life. These drawbacks may not be issues in the future as battery technology improves.

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Are Electric Cars Safe

In a word, yes. Well, in as much as any car is. After all, any object so big and heavy travelling at speed is always going to carry risks of potential injury for anyone or anything it hits.For those inside the car, however, its thought that EVs are actually safer than their conventionally powered counterparts. This is because an EVs big, heavy battery pack is normally incorporated into the central structure of the car, usually in the floor, and this provides extra stiffness to the cars bodyshell, meaning better protection of the passenger compartment in a crash. Look at the Euro NCAP website, and youll notice that all dedicated EVs tested score the full five-star rating.Some worry about the risk of fire that the lithium-ion batteries used in EVs carry after all, there have been well-documented cases of such batteries catching fire in phones and laptops, so whats to stop it happening in a car? Well, manufacturers use a wide range of measures to prevent this happening, including super-strong steel casings to prevent damage, separation of cells to prevent fire spreading, and a whole host of fuses, circuit breakers and cooling systems. In fact, research suggests that EVs are actually less likely to catch fire than conventional cars as they dont carry flammable petrol or diesel.

Porschetaycan 4s Cross Turismo

MSRP

$93,700 – $187,600

Edmunds Tested RangeEdmunds’ real-world range test measures the distance an electric vehicle can travel on a full charge.More info

250 mi

Edmunds Rating

8.3 out of 10

The Cross Turismo is the wagon-like version of Taycan. It provides more cargo room and passenger space with no perceptible trade-off in the driving experience. With the Cross Turismo, you can get incredible comfort and effortless driving one moment and then, with the twist of a knob, world-beating performance the next.

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Top 10 Best Mileage Electric Cars To Buy In 2023

Senior Editor

Electric vehicles seem to capture more and more market share day by day. Many customers prefer the affordable, economical, and sustainable option of mobility to conventional vehicles thanks to rising gasoline and diesel prices. However, electric vehicles, or EVs, are also troubled by the range and charging issues that end up defining the limit of ones travel. As a result, we bring you the most range-equipped EVs you can get, from the Rivian pickup truck to the Lucids Air model that offers a minimum of 300 miles of range on a single charge.

Electric Vehicles have been said to be limited by the range they offer, however, that is not the case any more. Electric vehicles are offering more range with faster charging times giving people a bit of ease when it comes to their range anxiety. Below are the best mileage electric cars available in 2022.

Revived Ev Federal Tax Credits Were Officially Signed By Potus

In late July 2022 the US Senate shared it was moving forward to vote on EV tax credit reform after Senator Joe Manchin took a break from huffing coal to finally agree to include investments to curb climate change.

One of the most prominent parts of the bill includes the long-awaited and fought over electric vehicle tax credit reform. In this iteration of the bill, access to the tax credit will be returned to those who have already exhausted the threshold, including Tesla and GM vehicles.

On August 7, 2022 it was approved by the Senate and a week later signed into law by President Biden.

The biggest issue we all are having with the Inflation Reduction act, is how cloudy and confusing its EV requirements are. Bear with us as we sort through it all, to once again provide you with the most up to date details of this ever evolving tale.

We have learned that the reform bill will also apply to EVs delivered after December 31, 2022. Heres a breakdown of the terms of the new Inflation Reduction Act.

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How Kelley Blue Book Rates Cars

Rather than pulling random numbers out of the air or off some meaningless checklist, KBBs editors rank a vehicle to where it belongs in its class. Before any car earns its KBB rating, it must prove itself to be better than the other cars its competing against as it tries to get you to spend your money buying or leasing.

Our editors drive and live with a given vehicle. We ask all the right questions about the interior, the exterior, the engine and powertrain, the ride and handling, the features, the comfort, and of course, about the price. Does it serve the purpose for which it was built?

We take each vehicle we test through the mundane parking, lane-changing, backing up, cargo space and loading as well as the essential acceleration, braking, handling, interior quiet and comfort, build quality, materials quality, reliability.

Dont Be Put Off By High Electric Car Prices Running Costs Are The Key

The list prices of electric cars can look expensive compared to equivalent petrol or diesel models, even when the Governments plug-in car grant has been applied, but looks are very likely to be deceiving. List prices are just one part of the cost of vehicle ownership and the overall cost becomes much more palatable when you factor-in the relatively low running costs of EVs – often around 60% of those of a similar petrol model depending on usage patterns.

As a general rule, charging an electric car is far cheaper than fueling a petrol or diesel one – even if you use more expensive public charging points.

The free VED , the company car tax advantages and the lower maintenance costs that result from an EVs fewer moving parts, and the lower cost of running an electric car will also help offset the higher upfront price.

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Is It Good To Have An Electric Car

Image credit: evs101.com

Electric cars are becoming increasingly popular, as they are more environmentally friendly than traditional petrol or diesel cars. Electric cars produce zero emissions, so they are much better for the environment. They are also very efficient, as they convert more of the energy from the batteries into usable power than petrol or diesel cars. Electric cars are also very quiet, so they are ideal for city driving.

Electric vehicles are more environmentally friendly, cleaner, and greener than their gasoline counterparts. In contrast to a combustion engine powered by fossil fuels, these vehicles run on electricity and are powered by lithium-ion batteries. A vehicle does not produce exhaust gases, which means less dangerous greenhouse gases, such as carbon dioxide, are being released into the atmosphere as a result. Electric vehicles are one of the fastest growing segments of the automotive industry. The reason for this is that they do not require a manual transmission. Furthermore, because there are fewer moving parts, power is transferred more efficiently. For example, the Peugeot e-208 is capable of 0-60mph in 7.8 seconds.

Electric vehicles now have more charging stations in the UK than petrol vehicles. You will be able to travel farther than before without needing to recharge your phone. You should look around if youre planning a trip to see if there are any parking rules in your area, as each borough has its own set of rules about how to park.

Hot New Electric Cars That Are Coming Soon

Automakers are offering new models in all shapes and sizes

The coronavirus pandemic has slowed auto development and production, but manufacturers plans to introduce electric vehicles continue unabated. In fact, dozens of pure electric models are set to debut by the end of 2024.

On the menu are cars and an increasing number of SUVs and pickups. And there will be a broader array of plug-in hybrid models, which can run on mostly electric power for a stretch before a gasoline engine kicks in and operates the vehicle more like a traditional hybrid.

The rollout of new EV and plug-in hybrid models across different segments is good news for consumers looking for an alternative-fuel vehicle that will fit their needs.

Below is a rundown of some of the models that are worth watching for in the next couple of years. The list is alphabetical by automaker. Prices are estimates in most cases.

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How Long Should It Take To Charge An Electric Car

It depends on your car and several other factors. First, consider your power source and how much power your car can handle at once. Next, consider what type of charger.

Using a Level 1 charger with a standard 120-volt outlet found in your home provides about 5 miles of range per hour of charging. According to the United States Department of Transportation , it can take 40-50 hours to charge a battery electric vehicle from empty and 5-6 hours to charge a plug-in hybrid electric vehicle from empty.

Level 2 charging helps you recharge your EV faster. Level 2 uses a 240-volt plug typically used for electric dryers . Using this type of charge, you can get about 35 miles or more of range per hour of charging. Besides at home, you can find many public charging stations at grocery stores, office buildings, or malls with Level 2 charging. The DOT says an EV can go from empty to full in 4-10 hours, and up to 2 hours for a PHEV.

Level 3, or DC fast charging, is found only commercially at public and Tesla charging stations. Also, not all electric cars available today offer DC fast charging. But newer ones offer the software and combination socket that will work with a DC plug. Most battery electric cars can get to an 80% charge in about 20 minutes to 1 hour. Most PHEVs currently on the market do not work with fast chargers.

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Lucid Air Dream Edition Range

The Lucid Air Dream Edition is the best mileage electric car with an EPA estimated driving range of up to 520 miles. This is the highest EPA estimated range offered by an vehicle to date. This Air Dream Edition comes in two trims – Range and Performance, it the Range trim which offers the 520 miles. This is matched with the cars strong economy numbers of 126 MPGe in the city and 125 MPGe on the highway and combined both.

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