Purchasing an electric vehicle is considerably different from the traditional car-buying experience. EVs have new specifications you need to consider, which can lead you to overspend. That’s why you need to account for these seven points before buying a luxury EV.
As with any shopping process, you first need to identify your needs and budget. How do you plan on using your luxury EV? Will you drive it sparingly, or will it be your new primary vehicle? Where will you drive? Who and what will you carry? These questions will help you narrow down your search and find wallet-friendly options. You only want to pay for the features you need.
Luxury EVs can cost between $25,000 and $100,000+ depending on your location and the state of the market. If you plan on adding aftermarket parts to your vehicle, like the new SV forged wheels from Savini or some flow-formed SV-F wheels, stay on the lower side of that price range so you can spend extra later on.
Establishing your needs and budget will help you determine which EV type is best for you. Many buyers aren’t aware, but there are more EV types than full-electric and hybrid. You can also choose from mild hybrids (MHEVs) and plug-in hybrids (PHEVs), both of which have smaller battery packs than electric-only vehicles and switch over to the gas engine as needed.
If this is your first time buying an EV, perhaps a hybrid might ease the transition and make the driving experience more comfortable. Some people also get hybrids if they have limited access to charging stations.
You must know where you can charge your EV before you buy it. The United States has over 113,000 outlets as of January 2022, but only 46,290 public charging stations are available. That number may seem like a lot, but your area might only have one or two that hundreds of people have to share.
Research the available charging stations in your community to make sure your EV has one of the three “levels” of EV charging available:
- Level One: slow charging from a traditional wall outlet
- Level Two: moderately fast charging from a manufactured 240-volt EV outlet
- Level Three: the fastest charging option, only found at specific public charging stations
We know luxury car owners want the absolute best for their vehicles, so we strongly recommend you purchase a level-two outlet for your home and use the other options sparingly.
No car responds well to extreme temperatures and bad weather, but EVs are particularly vulnerable because of their batteries. You need to park your car in a dry place with moderate temperatures. Your garage is the perfect place, but you need to make sure it’s weatherproofed for the cold months and has a reliable door that opens and closes without issue.
You also don’t need to charge your EV to 100% every time. The battery will be under much less stress if you keep the percentage in a medium to high range.
If your vehicle’s range is too small, you’ll suffer constant anxiety from searching for the next charging station. On the flip side, an excessively long range can multiply your expenses. You don’t want to pay for a high-capacity battery if you don’t need it.
The range for an EV can be anywhere from 100 to 300 miles, with 180-270 being the most common and optimal range. You should focus your search on vehicles within this happy medium. Some aftermarket products like the lightweight single-cast aluminum BM Black di Forza wheels or SV-F flow-forged wheels could also slightly improve your EV’s weight, range and performance.
When you take an EV for a test drive, acceleration will feel strange because electric motors use their full power as soon as you step on the accelerator, whereas traditional acceleration varies based on the amount of pressure applied to the pedal.
Handling is much the same as any other vehicle, but it still may feel different at first because you don’t hear the same purring of the engine. Make sure you’re comfortable behind the wheel before making the purchase.
Many federal, state and local governments offer incentives for EV purchases, including tax credits. For example, many buyers take advantage of the Federal Electric Car Tax Credit and save as much as $7,500. Some lenders also offer special auto loan rates for environmentally-friendly vehicles. You could save over $10,000 collectively if you play your cards right.
Luxury EV shopping can be a daunting task, especially if you’re only familiar with traditional cars. These seven points will help you find the right EV for your needs and learn the fundamentals of EV ownership, such as charging, storage and the driving experience. Just follow our advice and you’ll find the perfect luxury EV and know how to take care of it.