Everyone is talking about rising gas prices these days, with forecasts that they will continue this spring.
This forces many people to consider what they would not have looked at twice a year ago: an electric car or an SUV.
Kevin Cushman says buying Tesla 3 years ago was one of the best things he ever did.
“I like it,” he said. – I have no complaints.
But in 2022, electricity means much more than Tesla.
As we’ve seen in all these Super Bowl commercials, carmakers are now going all-in on electric and plug-in hybrids, including even the best-selling Ford F-150 pickup, which now comes out as the F-150 Lightning.
Car buyer Pam Taylor has never considered it before, but is now looking at the Mustang Mach-E.
“I like the savings on petrol,” she said, “but I need to know more about them.”
Herman Davis says the electric Mustang is “really good, with lots of features”.
If you’re like most people, you’ll probably see 20 Jeep Wranglers every time you go to the grocery store. But you’ve probably never seen the new hybrid plugged electric Wrangler.
Buying an electric can finally make sense
With gas prices well over $ 3 a gallon (over $ 5 in California), a hybrid or electric car can mean real savings, unlike two years ago when gas was sold for just $ 2 a gallon.
Even better: the government wants to help you buy.
Thanks to last year’s infrastructure bills, tax breaks that have expired have been restored for most hybrid and electric vehicles.
If you check out the site Fuel economy.gov you will see what you can get:
- A $ 7,500 loan for a hybrid Jeep Plug in Hyundai Ioniq, Mustang Mach-E and Nissan Leaf, among others.
- $ 4,500 for a plug-in Prius hybrid.
However, the loans end once the automaker sells too many cars, which means you can’t get a discount for buying a Tesla or original Prius.
“You have a tax credit depending on what type of vehicle you buy,” Kevin Cushman explained. “Some ended, for example, Teslas ended because they had an excessive subscription. But all new models have the ability to create personal tax breaks.
Tesla owner Cushman is so set on the fact that he recently joined the electric car industry and is now building charging stations in shopping malls and city car parks through a company called Electrode.
And with the increase in the number of charging stations and renewed credits, car buyers such as Justin Drew are ready to buy.
“Before, they were only for the rich, but now they can be obtained by ordinary Americans,” he said.
And that way you don’t spend money.
Don’t Spend Money “is a registered trademark of Scripps Media, Inc. (” Scripps “).
Follow John on Instagram @johnmataresemoney
Follow John on Twitter (@JohnMatarese)
For more consumer news and money-saving tips, go to www.dontwasteyourmoney.com