That’s right. Buy or lease the car you love and get money back - we’re talking thousands. That is just the start of the savings as you will continue to save on fuel and maintenance for as long as you own the vehicle.
PURCHASE INCENTIVES
There are federal, state and local incentives to bring down the cost of buying or leasing an electric car Here are a few highlights:
Federal Tax Credit Credits are available for New Clean Vehicles purchased in 2023 and after. If you place in service a new plug-in electric (EV) or fuel cell vehicle (FCV) you may qualify for a Clean Vehicle Tax Credit. Learn more about the federal tax credit here.
State and Local Incentives Cities, local Air Quality Districts and Electric Utilities often provide rebates for purchase and/or lease of electric vehicles and incentives for home charging. Drive Clean California is a great resource to look for local and state incentives. Drive Clean California
THE SAVINGS CONTINUE…
Drive where you want at a fraction of the cost. The reduced cost for fuel and maintenance will reduce your total cost of ownership anywhere from $10,000 to $20,000 over 5 years depending on how much you drive.
Fuel Costs
Electric car charging in California costs roughly half the price of powering a standard gasoline car for driving the same distance. With gas prices rising, the savings can be 60% to 70% and you never have to go to a gas station again! Most drivers charge their electric cars overnight at home and wake up to a full charge. With the growing availability of workplace and public charging stations, you will never be far from a charge.
Maintenance Costs
Electric motors have far fewer moving parts and never require oil changes, new spark plugs or fuel filters. Regenerative braking also extends the lifespan of brake pads by using the electric motor to decelerate the vehicle. This typically translates to significantly lower overall maintenance costs and increased savings.