Benefits of Buying an Electric Vehicle in PA
Reedman-Toll Chrysler Dodge Jeep Ram understands the importance electric vehicles will play in Pennsylvania's transportation future, with their environmental benefits and quality-of-life improvements. With the release of in-home charging stations and refueling stations in parking lots becoming more commonplace, more people are looking to make the switch. However, there are still a few skeptics out there, so the team at Reedman-Toll thought we would share some of the benefits of driving an electric vehicle in Pennsylvania.
Big Time Savings at The Pump
One of the more popular benefits of driving EVs is that you don't have to buy gasoline. Eliminating your gas purchases can significantly impact your overall financial picture. We're not saying you can drive for free, but it is much cheaper than buying gas. One study showed that the average electric car owner would save between $800 and $1000 per year. That can add up to savings of thousands of dollars over the life of an electric car.
Consumer Rebates
As a Pennsylvania resident, you are eligible for grants and rebates. The Driving PA Forward program offers grants and rebates to help Pennsylvania reduce nitrogen oxide and other air pollution and drive the transition to cleaner vehicles. Pennsylvania residents who buy or lease an electric or plug-in hybrid vehicle for personal use are eligible for a DEP Alternative Fuel Vehicle Rebate. While the vehicle may be purchased in-state or out-of-state, it must be registered in Pennsylvania. If you buy a battery electric car or truck like the new Dodge Hornet, you qualify for a $750 rebate. If you purchase a plug-in hybrid car, such as the Jeep Grand Cherokee 4xe, you will receive a $500 rebate.
Federal Tax Credit
There are also tax incentives when buying an electric or plug-in hybrid vehicle. In 2022, a federal refundable tax credit of up to $7,500 for purchasing a qualifying electric vehicle. Keep in mind that only certain electric vehicles qualify for this tax credit. The good news for you is that the Jeep Wrangler 4xe and the Grand Cherokee 4xe do. Code Section 30D of the IRS provides an income tax credit of $7,500 for purchasing or leasing a Jeep Wrangler 4xe or Jeep Grand Cherokee 4xe.
EVs and PHEVs are Cheaper to Maintain
Did you know that owners of battery electric vehicles and plug-in hybrid electric vehicles spend half as much on maintenance than traditional internal combustion engine vehicles? According to a recent Consumer Reports (CR) study, EV owners will pay around $0.031 per mile for repairs and maintenance costs over the car's lifetime. Plug-in hybrid electrics will cost an estimated $0.030 on average over the car's lifetime. Meanwhile, on average, traditional internal combustion engine vehicles required a whopping $0.61 over the car's life. This means the lifetime maintenance and repair costs for BEVs, and PHEVs average out to $4,600, while traditional gas vehicles average $9,200.
Reedman-Toll Chrysler Dodge Jeep Ram Wants to Help Save you Money
With more options and savings than ever, now is a great time to buy or lease a new EV or PHEV. If you would like to take advantage of all these savings and start driving a Jeep 4xe, Dodge Hornet, or Chrysler Pacifica Hybrid, stop and speak with one of the knowledgeable sales members at Reedman-Toll Chrysler Dodge Jeep Ram in Langhorne, PA.