If you want to purchase a new vehicle, you can consider available state and federal tax credits, which could bring an EV or PHEV into your price range. A new EV or PHEV boasts the best fuel economy and lowest emissions, so it could pay to check auto loan rates. You may be able to get favorable terms and manageable monthly payments.
Used Vehicle Considerations
If you opt for a used car, you can get something that offers good gas mileage. If you find a reliable model, you can consider a used car warranty, which can help protect the vehicle for a year or more.
If you’re considering a used electric car, remember that most of these vehicles offer battery warranties that last for eight to 10 years or 100,000 to 150,000 miles. If you can find a model that offers you time before you reach these thresholds, a pre-owned electric auto could be a great option. You might also want to check the price of alternative-fuel used cars, like those that run on biodiesel, ethanol, or power cells.
Change Your Driving Habits
Perhaps a new vehicle is too large of an investment. Instead of opting for a more efficient set of wheels, you can improve fuel efficiency and reduce carbon emissions by changing your driving habits and taking better care of your car. For many people, these may be realistic, achievable first steps toward reducing vehicle carbon emissions.
You can reduce the amount of fuel you burn (and the emissions that creates) by changing the way you drive.
Even in winter, you can avoid idling by driving your car to warm it up. As long as you do not rev the engine, this is a safe and effective option for getting your car up to temperature without idling.
Driving less may not be an option for some daily commuters, but there are ways to lower your time on the road. You can plan errands so that you complete them all on one trip instead of making multiple journeys to the store or post office. Also, you can opt for public transportation for some of your commutes or trips.
If you drive less, you can also save money. In addition to using less fuel, some of the best insurance policies have lower premiums for customers who do not use their cars often.
Maintenance can have a significant impact on your car’s performance, longevity, and fuel economy. According to the Department of Energy, an engine tuneup can lead to fuel economy improvements of 4% on average. However, significant issues, like a malfunctioning oxygen sensor, can increase miles-per-gallon figures by up to 40%.
If you want to be certain that your vehicle is operating as efficiently as possible, stick to the maintenance schedule recommended by the manufacturer. Regular maintenance tasks that can have a positive effect on gas use and emissions include:
Ensuring proper tire inflation
Changing air filters
Adding the right variety of oil
Financial Perks of Driving an Eco-friendly Vehicle
Driving green can also help you save money. You won’t have to buy as much gas with fuel-efficient internal combustion and hybrid cars. According to Consumer Reports, electric cars are 60% cheaper to power than gas vehicles. However, there are also government incentives, tax breaks, and insurance discounts that can further lower the cost of car ownership if you opt for an eco-friendly vehicle.
In addition to tax credits for new vehicle purchases similar to the federal program, some states offer rebates or tax credits for electric vehicle home charging station installation. The NCSL offers state-by-state summaries of all EV, PHEV, and charging incentives.
U.S. Tax Breaks
All PHEVs and EVs are eligible for a federal tax credit. According to the IRS, the EV tax credit is between $2,500 and $7,500. The credit starts at $2,500 for any vehicle that has a 5 kWh battery. You can get $417 added to that amount for every additional kWh. The EPA operates a site with information on the exact amount of the credit for each eligible vehicle. Keep in mind that this is a tax credit, so you will not get a check in the mail. Instead, the amount will be added to your tax refund or subtracted from the amount you owe the IRS.
Car Insurance Benefits
Electric cars generally cost more to insure than their gas-powered counterparts. This is because there are fewer technicians to repair them and the cost of components is generally more expensive than traditional vehicles.
However, the Insurance Information Institute highlights several ways that insurers are offering discounts to owners with greener cars. Some companies offer discounts for hybrid vehicles, while others may reduce the premiums for autos that use alternative fuels like biodiesel, ethanol, or natural gas.
There are also pay-by-mile programs for people who drive their vehicles less often. These policies require you to have a tracking device on your car that measures the distance traveled. You then only have to pay for coverage based on miles traveled.
These incentives can make a green car a good choice for both the environment and your wallet.
Choose a green vehicle and adopt improved driving and auto maintenance habits, and you can lower your contribution to America’s greenhouse gas problem.