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Buying an electric vehicle is both environment and wallet-friendly!

Tuesday August 27, 2019


Buying an electric vehicle is both environment and wallet-friendly!

There, you’ve decided: in keeping with your environmental awareness, your next vehicle is going to be electric. From a growing network of charging stations to tax credit incentives, here’s how New Brunswick is encouraging people to make the leap to e-vehicles.

Getting around and hitting the road: where are the charging stations?

We live in a big place! Do you have to drive significant distances? Do you worry about finding charging stations when you need them? You should know that New Brunswick is among the nation’s leaders when it comes to the reach of its network of charging stations for electric vehicles. With more than 200 service points and an average distance of only about 65 kilometres between stations, it’s easy to find a spot to recharge in any urban centre or along main highways and roads. Finally, you can take that road trip without taking a toll on the environment! Click here to find charging stations near you.

Recharging for (almost) pennies

Going electric is not only good for the conscience, it’s good for your finances! Each recharge (approximately 80% top-up) on the public network costs only a few dollars, so you can hit the road without breaking the bank!

Financial aid: The federal government supports your choice

The New Brunswick government has yet to follow in the footsteps of its counterparts in British Columbia and Quebec by launching a provincial rebate program. No need to panic, however, because you can still take advantage of the federal program under which drivers are eligible for a tax credit of up to $5,000 for electric vehicles costing less than $45,000 (before delivery, freight, add-on accessories and financing). It’s a significant helping hand!

Models eligible for the government tax credit

So are you ready to take the plunge? Before you visit your dealer, keep in mind that when it comes to gifts from the government, there are usually a few associated “ifs” and “buts”… Given their generally higher cost, only a small number of battery electric vehicles are eligible for the tax break. However, a significant number of plug-in hybrid electric vehicles are eligible, with the exact credit amount based on the battery capacity and price of the vehicle in question. Click here for a full list of eligible vehicle models.

How much does it cost to install a charging station at home?

For (extremely) practical reasons, you will likely want to install a charging station at home. It’s recommended to opt for a “smart” charging station, which is also connected to the Internet so you can control it remotely.

The cost of installing a charging station varies depending on the model you choose and the complexities of your particular situation (distance from panel, any obstacles, etc.). As a rule, you should plan on spending a total of between $1,500 and $2,500. If you drive approximately 20,000 km a year, the cost of charging a vehicle works out to around $180 for plug-in hybrid electric vehicles versus $300 for battery electric vehicles. At either price, you get good return on your investment.

Choosing hybrid or electric for your next new car will mean driving with peace of mind while you also enjoy the latest in vehicle technology. Do you need a car loan? Use our auto loan calculator or contact us! We’ll be pleased to guide you through the process of financing your new, eco-friendly purchase!

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