Bank of America is committed to environmental sustainability, offering streamlined auto financing for electric cars and other electric vehicles (EVs).
Read about Bank of America's commitment to environmental sustainability.
Why buy an electric car?
Driving an electric vehicle means you would be contributing to environmental sustainability since electric vehicles release fewer harmful carbon dioxide emissions. According to the US Environmental Protection Agency (EPA), greenhouse gas emissions from transportation layer account for about 28% of US total greenhouse gas emissions.
EVs may even be recharged using renewable energy, which can help increase energy independence.
Are there financial benefits to going electric?
You can benefit from possible federal and state tax credits or incentives. For more information, check out the U.S. Department of Energy Alternative Fuels Data Center layer.
The costs of owning an EV are typically less than a gasoline-powered vehicle. Savings may include a lower cost to charge your electric vehicle (when compared to fuel costs) as well as savings on maintenance costs, since EVs typically need less maintenance. EV electrical systems do require some periodic maintenance, however. Check out the Electric Cost Drive Calculator layer at energy.gov to compare alternatives to fuel costs.
Is this the right time to buy electric?
Electric vehicles have become more affordable as technology improves and automobile manufacturers meet the increased demand with additional electric vehicles models in the market. In addition, the number of charging stations is growing every year to provide more options for your travel needs.