More and more luxury automakers are offering electric cars.
So what are the advantages of owning a luxury electric car?
They’re everywhere on the luxury car market in 2021 and there’s so many more coming along as the Electric Car technology improves at lightning speed.
Electric cars use a rechargeable battery-powered engine in place of a typical gas engine.
So, what are the advantages of owning an electric car or electric luxury automobile? There are loads of benefits – so many, in fact, that some luxury car makers are vowing to go 100 percent electric in the near future – so let’s touch on as many benefits as we can in Part 2 of our blog on the subject:
No. 4. There are tax credits available for owners of electric cars.
The BMW electric car page lists many benefits including tax credits. In fact, owning an electric BMW or other luxury electric car comes with many financial incentives. You may be eligible for federal tax credits of up to $7,500, in addition to other state incentives such as rebates, tax credits, and grants. You could also save up to $1,500 in fuel costs within five years. All-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local incentives may also apply! BMW even offers a state by state rundown.
Original owners of luxury electric cars such as the BMW i3 can receive credit on their tax returns simply for owning a car that’s good for the environment. The BMW i3 is a B-segment, high-roof hatchback with an electric powertrain using rear wheel drive via a single-speed transmission and an underfloor Li-ion battery pack and an optional range-extending petrol engine.
The i3 is BMW’s first mass-produced zero emissions vehicle and was launched as part of BMW’s electric vehicle sub-brand. Other specific makes and models receive different credit amounts. So if you’re interested in learning about what kind of credit you could receive, there are several online resources and articles available.
No. 6. In addition to cost-cutting incentives, if you own a model such as an Audi e-tron GT you financial benefits such as potential fuel savings and federal tax credits.
The 2021 Audi e-tron GT and Audi e-tron Sportback are all-electric luxury crossovers that are taking Audi firmly into the forefront of the electric car universe. Their battery-powered, all-wheel-drive powertrains deliver up to 222 miles of EPA estimated driving range and their refined and responsive driving and quiet yet high tech interior spaces prove to be 100 percent Audi DNA.
They are electric but very similar to the non-electric Audis in terms of style and performance. And did you know that with these same luxury electric cars you can receive preferential parking and charging various cities around the nation while charging your plug-in hybrid and access to HOV lanes with a single occupant in select states. That’s right: Plug-in auto owners often receive preferential parking for increased convenience while charging.
No. 8. You get exclusive lane access.
That means you can cut even more time from your daily commutes – most BMW electric cars and other luxury electric cars are eligible for HOV lane access with a single occupant in select states. Some major highways have high occupancy vehicle lanes (HOV) that can bypass traffic during rush hour. This is known as the carpool lane, but is also available to electric car drivers.
According to the U.S. Department of Energy, High occupancy vehicle (HOV) lanes are available across thousands of miles in more than 20 states.
The idea is to move people more efficiently. According to DOE, HOV lanes require vehicles to have a minimum number of occupants during peak traffic hours or that they be registered electric cars or hybrids that are also entitled to use the lanes. HOV lanes are open to carpoolers, buses, and motorcyclists in most areas. Some HOV lanes are accessible to certain low emission vehicles, electric and hybrid electric vehicles (regardless of the number of passengers). A number of states use HOV lane exemptions to encourage people to buy certain sustainable fuel car types, like electric cars, to further reduce mobile source emissions.
The benefits of owning a luxury electric car are endless. So reach out to set up a test drive today!