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Cost Savings With Electric Cars

Cost Savings With Electric Cars

You may have heard that the costs of electric cars are getting lower and lower. The logic is simple — they require less maintenance because there’s no engine, no piston rings to replace, etc. That makes an electric car sound like an excellent investment, right?

Electric cars are becoming more and more popular as time goes by. As these cars grow in popularity, car buyers have a lot of questions about how much they cost to maintain and whether they are a wise purchase or not. Many people don’t consider that an electric car can save you money.

A new study by AAA found that operating an electric vehicle costs about $486 per year, while the average cost of driving a gas-powered car is $1,117 per year. That’s based on gasoline costing $2.64 per gallon and electricity costing 12 cents per kilowatt-hour (kWh) — which translates to about 4 cents per mile.

According to the Energy Information Administration, that’s around half what you would pay to drive a gas-powered car 15,000 miles a year using regular unleaded fuel. And that’s not even counting state or federal tax credits or rebates.

In states like Florida and New Jersey, where electricity costs are lower (about 7 cents per kWh), drivers can save as much as $600 annually when switching from driving a classic car to an electric one. In Hawaii, where energy costs are higher (29 cents per kWh), drivers could face an increase in electricity costs of up to $200 annually, AAA found.

Electric cars are less expensive to fuel than gasoline-powered vehicles. A gallon of regular gasoline contains about 33.7-kilowatt-hours (kWh) of energy. Still, it takes over 50 kWh of electricity to produce a gallon of gas. Overall, it takes at least 1.5 kWh of electricity to make a quantity of gasoline with the same energy content as one kWh of direct use in a vehicle.

Electric cars are more efficient than gas-powered cars. According to experts at MIT, gasoline cars convert less than 20% of the energy stored in gasoline into motion. The other 80% is lost in heat through the engine, the exhaust pipe, and braking (which turns some of a car’s kinetic energy into heat). And that’s not even considering how much energy it takes to transport gasoline from its source to your car’s fuel tank!

Electric vehicles fare much better: at least 70% of the energy stored in their batteries gets converted into motion. That means they can travel up to three times farther on a single charge.

Though some electric vehicles cost more than similar gasoline-powered cars, they’re an excellent long-term investment because they can save you significantly on fuel costs over time.

The simple design of electric vehicles means fewer moving parts and, therefore, fewer maintenance costs. You don’t need oil changes or spark plug replacements because the motor is powered by electricity and not fossil fuels.

Electric vehicles don’t have transmissions, so there’s no need to worry about replacing worn-out gears or clutches. Electric cars also don’t have any belts to replace, saving you the cost of those repairs. Electric vehicles don’t require fluids. This is simple, but it makes a big difference in maintenance costs.  There’s no need to fill up on coolant or brake fluid when driving an electric vehicle. You’ll still have to top up on windshield washer fluid and motor oil, but that’s all. Over time, this can add up: The average driver spends $150 per year on engine oil alone.

Electric cars are a type of eco-friendly vehicle that produces significant improvements in the way people drive and purchase vehicles. These vehicles run off of clean energy and are known for their low emissions and fuel-efficient performance, which eliminates the need to visit gas stations and fill your car with gas ever again.

This guarantee alone is a significant plus for driving an electric car over standard models. In addition, these types of vehicles have been known to provide drivers with 30 – 40 miles in the city and 50 – 100 miles on the highway from one charging session, which implies that you will never have to worry about paying for gasoline or overdue maintenance costs for replacing and maintaining car parts.

What to know about Public Electric Car Charging Stations.

There is no longer the anxiety of range as more stations for charging EV are built all over. Charging at public stations is undoubtedly more expensive than charging at home, but you will get added charging convenience at public stations while you shop, work, or dine. You can make use of a debit or credit card to pay, or the apps provided by the charging network, if available.

In a lot of public stations today, you would be billed according to the time you spend charging your EV. The particular station will be the one to determine the exact price that you would pay. In other stations, they may offer their services to you at a slashed-down rate. Tesla Owners can find Super Charger Locations via their in-vehicle navigation system or by searching here for a Tesla Charging Station Near You.

When is the best time to charge my Electric Car?

Electric usage in the US is usually very low from midnight to around 6 AM. Most people would be asleep by this period. So, it is a good time to recharge your EV since there is just a little load on the electric power grid. By 6 PM, people are already returning from work. This is when they will use their different electrical appliances and turn their lights on. Therefore, the most ideal time to charge your EV is after midnight.

If you want to get the best deals on electric cars in New York or you want to lease an electric car, you can contact us today or visit our website.

Fort Lauderdale’s Most Trusted Car Leasing Company

If you’re looking for car leasing in Fort Lauderdale or the Miami area, Signature Auto Group Florida is the place to be. As a leading leasing broker, we help customers with early lease exits, lease swaps, new leases, and everything in between. With two decades of experience in the New York area collected, our company is confidently expanding its expertise to the South Florida region.

Becoming the go-to company for early lease exits in Miami and Fort Lauderdale is no easy task, but with our commitment to customer service led by a motivated staff, our entry is already favored by most. Standing by you every step of the way, our company strives to guide you in the right direction. Whether buying, leasing, or selling, a dedicated team member is here to attend and impress.

Along with our excellent staff, Signature Auto Group Florida offers a diverse array of services, separating itself from other car dealers in South Florida.

Car Leasing Florida

Serving areas from Aventura to Boca Raton, our reach is vast. As such, our inventory is built to serve all types of clients. With an impressive list of available cars for lease in Miami, we have a special vehicle for everyone.

Leasing a car is beneficial for many consumers. It provides a way to save on costs while evading any long-term commitments. Drivers remain open to the possibility of new vehicles, always able to keep their driveways fresh.

With our extensive industry knowledge and decades-long relationships, we’ve been able to build one of the most desirable inventories around. With most makes and models available, our lot is the only place you need to visit for your next lease.

Contact Signature Auto Group Florida Today!

Signature Auto Group is the best destination for car leasing in the Fort Lauderdale and Miami area. We offer an extensive inventory made up of all makes and models, along with an experienced staff dedicated to making your next visit pleasant and straightforward.

We aim to provide as many avenues of communication as possible, allowing you to interact with our team in a manner that is most comfortable to you. Regardless of the question, feel free to email us directly at info@signatureautofl.com or use the built-in contact form. If you prefer a call instead, you can reach our team at (561) 709-2277.

You can also stop by our location to speak with us in person. We are located at 291 E Commercial Blvd, Fort Lauderdale, FL 33334.

Fort Lauderdale, Florida Car Leasing Return Center

If you have an car lease that is due to reach maturity, we at Signature Auto Group Florida can accept your lease return even if you did not lease it from us, all makes and models!  Let us guide you through the process of turning in your current lease as well as provide all the information you need on leasing a new car.

If your lease is maturing soon, we suggest that a pre-inspection of your vehicle is conducted.  This inspection will evaluate your vehicle’s condition using the Vehicle Condition Guidelines.  After the inspection, we’ll provide you with a Vehicle Inspection Report, documenting your vehicle’s condition at that time. Save Big by returning your car with Signature Auto Group.

Fort Lauderdale, Florida Car Lease Transfer

lease transfer works by allowing one driver to transfer their lease to another, who must qualify for credit approval with the finance company. A lease transfer is a simple process in which the name on a lease account is changed for the duration of the term. Other than the registered driver and the name on the lease, the remainder of the lease contract is unchanged. This includes mileage restrictions, wear-and-tear restrictions and the total length of the lease in months.

Fort Lauderdale Early Car Lease Buyout

Want to get out of your car lease early and into another car? Signature Auto Group Florida offers an early lease buyout program just for you. When you are leasing a vehicle, you can purchase your vehicle before the end of the lease contract. There are some instances when your car may be worth more on the market than your buyout price, and in this instance, you can actually make a profit!

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