Should I Purchase or Lease my Electric Car?
Replacing an electric car’s batteries can be very expensive. Most electric car manufacturers have responded to the growing market for replacement batteries with a business model that fills the need without the prohibitive upfront costs. Owners now have the option of leasing the batteries for a reasonable rate rather than paying the full upfront cost for replacing them. When the life of your batteries runs out, all you have to do is head to the manufacturer to have them replaced.
Still, there are practicalities to consider. Consider that the cost for leasing the batteries is not that high since the lease period covers several years. Even when you add up the cost of recharging to the payments you are making for the batteries, it is still not very expensive. In the long run, however, you may decide that the cost of buying the batteries and paying for them in full when they need to be replaced is more practical than the cost of leasing them. Over the long term, leasing may be more expensive, but the advantage is that you do not have to come up with a large amount of money when your batteries run out. It also lowers the capital cost when you buy an electric car with batteries.
Manufacturers that offer battery leasing services also give you the option to buy the car with batteries included. In the end, it will depend on personal preference whether you decide to lease or buy your car’s batteries.
Most electric car distributors and manufacturers consider various economic models as a basis for the future sales of their cars. One of the most interesting models is the “cell phone” model. The concept behind this model is the plan that comes with the cell phone upon purchase. With this plan, the cell phone unit gets cheaper as you make more calls.
This concept is now being used in electric cars. They are now being sold at a lower price but there is a recharging fee that you have to pay each time you charge your car. The cost for the servicing of the car, the electricity and the cost of the batteries are covered in this recharging fee. You no longer have to pay for a costly maintenance fee on a regular basis. Now, you are charged only for what you consume.
Servicing Costs
One of the best advantages of the electric car is its low servicing cost. It has fewer parts so there are fewer parts to maintain. However, just as with the old fossil fueled cars, if you take your car to the dealer for maintenance, it will cost more – very much comparable to the cost for maintenance of any other type of car. Some owners perform the maintenance of their electric cars themselves. This can save you a lot of money, especially when your batteries need to be replaced.
When it comes to battery replacement, some electric car dealers sell replacement batteries at exorbitant prices, so it is best to shop around