Should You Buy an Electric Car?


Electric cars are coming!  Later this year, the first mass-produced electric vehicle will launch in the US - the Chevy Volt.  In 2011, more electric cars are coming to America, including: the Nissan Leaf, Coda, and two models from Tesla.

With the high price of gasoline, increasing foreign dependence on oil and growing concern over the greenhouse gas emissions, there is no doubt that electric cars are going to be a viable alternative to gas and hybrid vehicles for prospective car buyers in the very near future.

But, does buying an electric car make financial sense now?  Given the current state of the economy, this question is surely to be on the minds of prospective electric car buyers.  Whether buying an electric car makes sense depends on a number of factors including: your driving habits, gas prices, price of electricity and how you value the environmental impact of your driving.

To help answer this question, we have created the Electric Car Calculator.  The calculator will compare the financial and environmental costs of buying an electric car versus buying a hybrid or standard gas powered car.  Simply choose two cars to compare and enter your driving habits and the calculator will show you the long-term financial costs as well as the yearly fuel and environmental cost.  Enjoy!

Are you ready to buy an electric car?  Let us know or give us your thoughts on our Electric Car Calculator in the comments below.

image: Mark Blinch/REUTERS

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