4 Things I Wish I Knew Before Buying an Electric Car
My spouse and I purchased our first electric vehicle (EV) in November 2024. We had long discussed buying one when our sturdy Subaru bit the dust. After replacing the transmission and realizing it might need a whole new engine, we decided it was time.
Like with any car purchase, we sat down, made a budget, looked at the most affordable EVs and considered our needs and wants. After much discussion and a few test drives, we landed on a 2024 Hyundai Ioniq 5 with all-wheel-drive. It’s a midsize crossover with just enough room for us and our two kids. We were approved for a loan, paid the dealer our down payment and were on our way.
What To Know Before Buying an EV
We still love the car three months later and are convinced we made the right choice. However, there are several things I wish I had known before we completed the transaction. Here’s what you should know before buying an EV.
1. The price of the car is only part of what you’ll pay
When buying a traditional car with a combustion engine, you must factor in the registration cost, insurance and tax. The same is true when purchasing an EV — but I didn’t realize those costs would be higher than expected.
Many state departments of motor vehicles charge an additional electric vehicle registration fee when registering an alternative-fuel vehicle like a hybrid, plug-in hybrid or battery electric vehicle. This helps the state recoup some of the lost funds it collects from taxing gasoline purchases. According to the National Conference of State Legislators, 39 states charge a special registration fee for electric cars. Depending on your location, you could pay an additional $50 to $250 (or up to $400 to register a new EV in Texas). In Ohio, where I live, we had to pay an extra $200.
These fees generally go toward a state transportation fund for road maintenance, improvements and infrastructure repair. Some states also funnel part of the funds toward improving public EV charger infrastructure, making EV ownership more attainable.
2. Installing a home charger could cost more than you think
Before we bought our Ioniq 5, we knew we wanted to install an EV charger at home. I researched to get a ballpark cost for installing one in our garage — but I didn’t consider whether our electrical panel could support the additional wattage.
Home charger units cost anywhere from $200 to $700, depending on your chosen brand and model. After researching a few options, we opted for the Emporia 48-amp charger, which cost $399.
Then, we contacted a couple of local electricians for quotes. We found our electrical panel would need some modifications to support the charger, including a load management device to ensure we didn’t overload our electrical circuit. The load management system added an extra $1,000 to the cost, and the wiring and outlet installation cost just over $1,600.
With the cost of the charger, we paid around $2,000 in total. We agreed the price was worth the convenience, but a couple thousand dollars is a lot to dole out after spending $50K on a car.
3. Public chargers are hit-and-miss
Before installing our home charger, we relied on public chargers to keep the car juiced. It wasn’t bad, and it’s doable if you can’t install a home charger. But I found public chargers can be unreliable.
The main charger I used was at my local gym. I would plug the car in during my workout and get a couple dozen more miles of range for $1 per hour. (As a bonus, this made me go to the gym even when I didn’t feel like it!) But there were only two chargers, so I was out of luck if both were taken when I arrived.
Additionally, public chargers are prone to breaking. I once went out for dinner with a friend, intending to plug my car in while we ate, and two of the four chargers were out of order. Luckily, one of the functional ones was available, but this would be stressful if you were low on battery and relying on a charger only to find it was broken.
I mentioned this to a friend who drives an EV, and she recommended the PlugShare app. It lists nearby chargers on a map and lets users leave reviews so you know how reliable each charger is. It also tells you whether a charger is in use so you don’t roll up and find it taken. I’ve used this app several times and found it very accurate.
Another thing to be aware of is EV charging etiquette. The first time I used a fast charger, I was asked if I could unplug and move on because my battery level was above 80%, and another driver wanted to charge their car. While you can charge to 100% on a public fast charger, it’s considered rude to charge above 80% with others waiting.
4. Your car’s possible range isn’t always its actual range
Hyundai estimates the Ioniq 5 with all-wheel-drive has a total range of 260 miles when fully charged. I’ve found that reasonably accurate — but only if you keep the heat or air off and stick to the speed limit.
The first time we experienced extreme cold this winter, I turned the heat on so I wouldn’t freeze while driving. The car’s estimated range immediately dropped by about 10 miles. And as I cranked the heat up higher, the range dropped a few more miles. A slight decrease in range may not seem like a huge deal, but it can be if you’re running low on charge. I turned the heat off and relied on the heated seats and steering wheel to keep me warm and preserve my range.
Your speed can also affect your range. Generally, the faster you drive, the more your range will be impacted. If you’re planning a long-distance trip, it’s best to plan your charging stops sooner than you think you’ll need them to prevent your battery from getting too low.
Finally, the outside temperature can also impact EV range. In colder weather, the battery must work harder to propel the car, while in hotter weather, the vehicle must use more energy to keep the battery cool. Both extremes can reduce your car’s range.
When it comes to what you should know before you buy an EV, there’s a lot to consider. It all depends on your own circumstances and preferences. But the more you know, the more prepared you’ll be to make a decision.
Catherine Hiles is a Certified Financial Education Instructor and freelance writer specializing in personal finance and home improvement. She lives in Ohio with her husband, two children and two energetic dogs.
