An electric car, or EV, has a distinctive engine to a petrol or diesel fuelled car – it has a motor that is powered by a battery which is charged by plugging it into an electric power point (a bit like charging your cellphone battery). This really should continue to accelerate, since an 8-car gasoline pumping station charges about $1 million to build, though an eight-spot EV charger would be significantly less than half the expense , and calls for considerably much less land (plus profit margins on electricity can be significantly higher than these on gasoline). There are over 36,000 public charging machines in the US, and the quantity grows by over ten per day. What you are in fact undertaking is converting your current gasoline powered auto into an electric powered automobile.
The only downside of all this is that carrying a car loan calls for me to carry at least $1000-deductible collision/complete insurance coverage on the car, which expenses me $190 per year added at Geico My car loan is for the complete $28,000, so the insurance premium functions out to only .6% of this balance per year – a great deal much less than I’ll earn by investing that dollars elsewhere, so thus I’ll maintain the loan unless it becomes a pain for some cause.
I was initially looking for a 2013 Leaf, but provided my city’s place (90 miles roundtrip to the airport and some other key destinations) the longer range of the 2016 SV model would remove all possible variety anxiety. Each coasts have already set up an electric highway ” infrastructure, which is a string of the ultra-fast 30 minute chargers spaced conveniently for electric cars. So 1 QC per gas station would be a parity truth if every single gas station had just a single QC we’d be laughing all the way to the bank. The average price tag for a new car in November 2013 (in the US) was $32,769, according to Kelley Blue Book.
So, Mr. Income Mustache just purchased himself a brand-new, 2016 Nissan Leaf to run a long-term science experiment and report the information back to you. I can effortlessly match five of me into the car (6’0/185 lbs), and two far more of me could actually fit into the hatch (without having such niceties as seatbelts or comfort, of course). Back in mid 2008 when gas rates had been at their highest, stopping by the pump station was an high-priced ordeal. This adds 4-five miles of charge per hour, or 60 miles per day if you leave your car parked from, say, 7PM to 7AM.
The weight distribution is close to 50/50 and good and low, with the battery pack way down beneath the floor and the electric motor amongst the front wheels. Tax credits lower the amount of tax owed, not the quantity of taxable revenue on which the quantity is calculated. The Toyota and Ford plug-in hybrids do not get that maximum tax credit because of their smaller capacity battery.