With the surge in electric vehicle popularity, it’s essential to understand the challenges that come with owning one. There are benefits, but there are also potential issues to consider. Here are 10 electric vehicle issues you should consider before making a purchase.
1. Public Charger Unreliability
Public chargers may not always be reliable or available when you need them. It can be frustrating to find a non-operational charger or a long queue of cars waiting to recharge, especially when the chargers are not as widespread as traditional gas stations. Additionally, each charging station may require a proprietary app, adding to the hassle.
2. Costly Repairs
Although simple in design, EVs come with complex cooling systems and electronic modules that can be expensive to repair. The limited repair knowledge and service network for EVs, especially newer or less common brands, can also be a concern.
3. Battery Degradation
Over time, the battery capacity in EVs diminishes, affecting the driving range. On average, an EV might lose 5% to 10% of its capacity over the first 100,000 miles. Opting for a model with a higher initial range could help mitigate the effects of battery degradation.
4. Battery Replacement Costs
The cost of replacing the battery, which can run into five figures, is a significant concern, especially as the vehicle ages and moves past the warranty period.
5. Insurance Costs
Due to the high repair costs associated with EVs, insurance premiums can also be higher than those for conventional vehicles. It’s advisable to get insurance quotes before making a purchase to understand the total cost of ownership.
6. Resale Value Concerns
The resale value of EVs can drop significantly as they age, primarily due to concerns about the remaining life of the battery. This depreciation is something to keep in mind if you plan to sell the EV in the future.
7. Unpredictable Driving Range
Although EVs come with an advertised driving range, real-world conditions like extreme temperatures, long-distance highway driving, or towing can significantly reduce this range. It’s advisable to consider your regular driving conditions and choose an EV with a range that suits your needs.
8. Tire Wear
Due to their hefty weight and high power, EVs can wear out tires quicker than conventional vehicles. This factor could offset the maintenance cost savings expected from not having to do oil changes or other common internal combustion engine vehicle maintenance.
9. Unknown Long-term Reliability
The relatively short time EVs have been on the market means there’s a lack of data regarding their long-term reliability, which can be a concern for potential buyers.
10. High Upfront Costs
The initial cost of purchasing an EV is still relatively high, making it a significant barrier for many consumers. However, as technology advances, it’s hoped that more affordable models will emerge.
While EVs offer numerous benefits, like reduced emissions and lower fueling costs, they also come with challenges. Understanding these issues can help you make an informed decision and select an EV that meets your needs and expectations.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
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