My spouse and I purchased our first electric vehicle (EV) in November 2024.
We had long discussed buying one when our sturdy Subaru bit the dust.
After replacing the transmission and realizing it might need a whole new engine, we decided it was time.
After much discussion and a few test drives, we landed on a 2024 Hyundai Ioniq 5 with all-wheel-drive.
Its a midsize crossover with just enough room for us and our two kids.
We wereapproved for a loan, paid the dealer our down payment and were on our way.
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However, there are several things I wish I had known before we completed the transaction.
Heres what you should know before buying an EV.
The same is true when purchasing an EV but I didnt realize those costs would be higher than expected.
This helps the state recoup some of the lost funds it collects from taxing gasoline purchases.
According to theNational Conference of State Legislators, 39 states charge a special registration fee for electric cars.
In Ohio, where I live, we had to pay an extra $200.
These fees generally go toward a state transportation fund for road maintenance, improvements and infrastructure repair.
Home charger units cost anywhere from $200 to $700, depending on your chosen brand and model.
After researching a few options, we opted for theEmporia 48-amp charger, which cost $399.
Then, we contacted a couple of local electricians for quotes.
With the cost of the charger, we paid around $2,000 in total.
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It wasnt bad, and its doable if you cant install a home charger.
But I found public chargers can be unreliable.
The main charger I used was at my local gym.
Additionally, public chargers are prone to breaking.
I mentioned this to a friend who drives an EV, and she recommended the PlugShare app.
It also tells you whether a charger is in use so you dont roll up and find it taken.
Ive used this app several times and found it very accurate.
Another thing to be aware of is EV charging etiquette.
The cars estimated range immediately dropped by about 10 miles.
And as I cranked the heat up higher, the range dropped a few more miles.
Your speed can also affect your range.
Generally, the faster you drive, the more your range will be impacted.
Finally, the outside temperature can also impact EV range.
Both extremes can reduce your cars range.
When it comes to what you should know before you buy an EV, theres a lot to consider.
It all depends on your own circumstances and preferences.
But the more you know, the more prepared youll be to make a decision.
Catherine Hiles is a Certified Financial Education Instructor and freelance writer specializing in personal finance and home improvement.
She lives in Ohio with her husband, two children and two energetic dogs.
