Electric Vehicle Benefits

Casey Louw
Casey Louw
Extended Warranty Specialist
February 2, 2022
min. read
small car at an electric charging station

Electric vehicles have been taking the US and global market by storm. Many people have moved from gasoline-operated or diesel-operated cars to Electric Vehicles (EVs). In purchasing a non-gasoline car there are certain electric vehicle benefits that we will discuss in more detail. These are known as electric vehicle tax benefits, electric vehicle economic benefits and electric vehicle environmental benefits. We will delve deeper into the various electric vehicle benefits to see why many people have turned to this type of car.

It is important to note that every electric vehicle comes with a factory warranty. When that factory warranty is due to expire, we recommend investing in an extended car warranty for your electric vehicle. An extended warranty is another term used to describe a Vehicle Service Contract and means the same thing. Chaiz offers varying degrees of warranty coverage on a variety of electric vehicles such as for the popular Audi E-Tron, the Nissan Leaf, Volkswagen E-Golf, Chevrolet Bolt EV, Hyundai Ioniq and Teslas. Simply input your car’s details on the Chaiz search tool and see if there’s a warranty available that suits your budget and driving needs.

Electric Vehicle Tax Benefits

A major perk that comes with buying an electric vehicle is the electric tax benefits that come with your car. There is a federal Qualified Plug-in-Electric-Drive Motor Tax Credit that comes with your purchase of a PHEV (Plug-in Hybrid Electric Vehicle) or electric vehicle if it’s bought from a car manufacturer that hasn’t met particular thresholds of vehicle sales.

This means you get a tax credit of $2,500 to $7,500 for a new buy. The exact amount is worked out according to the size of your car and its battery capacity. Some states and utilities offer additional incentives which you can find out about on purchase. Overall it seems that the eclectic vehicle tax benefits are very worthwhile and will likely convince you to go green with your car choice.

Electric Vehicle Economic Benefits

Typically, the fuel economy on an electric vehicle is better which means owning one provides you with electric vehicle economic benefits. According to FuelEconomy.gov the 2020 Toyota Corolla Hybrid has an EPA city-and-highway fuel economy measure of 52 miles per gallon (MPG). The traditional 2020 Corolla (4-cylinder, automatic) has a 34 MPG measure. This shows that you will save money on fuel monthly as one tank will take you further than a traditional gasoline car.

HEVs (Hybrid Electric Vehicles) Plug-in Hybrid Electric Vehicles (PHEVs) and Electric Vehicles can improve fuel economy due to the car’s electric drive components. Due to PHEVs and EVs relying solely or partly on electric power, their fuel economy is measured in kilowatt-hours per 100 miles. Depending on the driver, light EVs and PHEVS in electric mode can exceed 130 MPG and can travel 100 miles using only 25-40kWh. The fuel economy is definitely better and the electric vehicle economic benefits are clearly evident.

Electric Vehicle Maintenance Cost Benefits

Electric vehicles have fewer moving parts and don’t need oil changes, new spark plugs or fuel filters. In a traditional car these components are attended to at each annual service, so this is a save on maintenance costs. The regenerative braking system in electric vehicles means the life cycle on brake pads is longer. Overall there are savings to be made with electric vehicles.

Electric Vehicle Environmental Benefits

Hybrid and plug-in electric vehicles offer electric vehicle environmental benefits that are clear to be seen. HEV emissions are determined according to car models and the type of hybrid power system. Electric vehicles don’t generate tailpipe emissions and PHEVs don’t either when in all-electric mode.

The lifecycle emissions on an electric vehicle or even a PHEV is linked to the electricity source used to charge the car and this varies per region. In areas using low-polluting energy sources for electricity production, plug-in cars are greener than traditional gasoline or diesel-operated cars. The electric vehicle environmental benefits are significant and you really are helping planet earth by choosing a greener car.

Buying an Extended Warranty with Chaiz for Your Electric Vehicle

Buying an extended warranty/ Vehicle Service Contract for your electric vehicle on Chaiz is a good idea. You never know when your car may break down and having coverage for your vehicle is wise. You can save thousands on repair bills.

There are usually three tiers of coverage offered on electric vehicles on Chaiz. The first tier is known as a bumper-to-bumper warranty or exclusionary coverage. This is the most comprehensive option and most expensive. It covers most of the important components of your car between your front and back bumper. This suits a driver that covers a great distance in their car and will likely break down sooner.

The second tier of coverage is the powertrain plus extended warranty. This is slightly cheaper and slightly less comprehensive than the exclusionary coverage. It suits a driver who covers mid-range distances in their car. You will be slightly less likely to break down.

The third and final tier of coverage is the powertrain warranty or Vehicle Service Contract. This is the least comprehensive option and also the cheapest. It suits a driver that doesn’t drive far and will break down less easily.

The Electric Vehicle Benefits are Vast

Overall it can be seen that going the green route and buying an electric vehicle has many benefits. As discussed these pertain to electric vehicle tax benefits, economic benefits, lower maintenance costs and environmental benefits. Switching from gasoline/diesel to an electric car clearly has its up side and is a wise decision to make for the environment.

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