Should You Buy an Electric Car?

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Remember your first car?

Mine was a 1969 Camaro. What I remember most about it wasn’t just that it was a cool car. (It was.) What I remember was how much it changed my life.

A car was freedom. It meant having something to do. Places to go. A spot to hang out with friends. A private place to take a date. A way to commute to my first job at McDonald’s.

In short, it changed everything.

That was lots of years and lots of cars ago. As the years have melted away, the thrills of driving have too.

But maybe that’s about to change.

In the near future, we’re going to experience a different kind of vehicle. A silent, efficient, low-maintenance, high-torque, futuristic electric ride.

Electric cars may look like just another car, but in some ways they’re revolutionary, as different from the traditional internal-combustion machine as they are from a horse.

I’m excited by the prospect. Granted, not as excited as I was to drive that ’69 Camaro, but excited nonetheless.

Maybe you’ve already traveled this road, and have an electric car plugged in at home right now. Or maybe, like me, you’re still just thinking about it.

If you’re exploring electric cars, you’re in the right spot, because that’s what this week’s “Money!” podcast is about. We’re going to check out the pros and cons of electric cars and decide whether we should get behind the wheel ASAP or wait for prices to come down and technology to catch up.

As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman.

Sit back, relax and listen to this week’s “Money!” podcast:

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Show notes

Want more information? Check out these resources:

• 18 Best Cities to Own an Electric Car
• Edmunds Rates These 8 New Cars the Best in 2021
• Consumer Reports: EVs Offer Big Savings Over Traditional Gas-Powered Cars
• New York Times: Electric Cars Are Coming, and Fast. Is the Nation’s Grid Up to It?
• The Hill: Finally, here’s the exact cost of owning an electric car vs gas car
• U.S. News & World Report: 10 Questions to Ask Before You Buy an Electric Car
• U.S. News & World Report: 11 Reasons People Don’t Buy Electric Cars (and Why They’re Wrong)
• New York Times: Buying an Electric Vehicle? Here Is Some Advice
• New York Times: Electric Cars Are Coming. How Long Until They Rule the Road?
• Edmunds: EV Buying Guide
• Car and Driver: 12 Bestselling Electric Vehicles of 2021 (So Far)
• Car and Driver: Here’s Every New Electric Vehicle Model for Sale in the U.S.
• Car and Driver: Electric Vehicle FAQs
• Stacy’s stock portfolio
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• Take our course The Only Retirement Guide You'll Ever Need
• Take our course Money Made Simple
• Miranda Marquit’s website