10 Red Flags in Commercial EV Financing You Must Avoid

Electric vehicles are rapidly increasing in popularity worldwide. The combination of a cleaner, quieter, and possibly more cost-effective driving experience has many people eyeing their next car to be an EV. All of that excitement to go electric shouldn't blur your judgment on financing your new ride.As in any car purchase, there are probable ploys in EV finance that should be avoided.

1. Obsession with the Purchase Price

When compared, the initial capital you laid down for an EV is relatively high. Though this upfront expense may seem to be a disincentive, look at the bigger picture lying ahead. Consider probable savings on fuel, maintenance, and government incentives.Eliminating the fixation on the sticker price is dangerous; do not overextend the budget with an EV loan that can not easily afford.

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