What are the top tips for scoring cheap electric SUVs in 2024?
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    What are the top tips for scoring cheap electric SUVs in 2024?
    Updated:26/07/2024
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    SeaGuardian
    Updated:26/08/2024

    Electric SUVs are gaining popularity, and finding a budget-friendly option in 2024 is essential. This guide will provide insights and strategies.

    Top Tips for Scoring Cheap Electric SUVs in 2024
    • Research the Market: Before diving in, familiarize yourself with the electric SUV market. Key models include:
      • Tesla Model Y
      • Ford Mustang Mach-E
      • Hyundai Ioniq 5
      • Volkswagen ID.4
      • Chevrolet Bolt EUV
    • Check Incentives and Rebates: Look for government incentives that can significantly reduce the price.
      • Federal tax credits up to $7,500
      • State-specific rebates
      • Utility company incentives for EV purchases
    • Consider Used Electric SUVs: A slightly used electric SUV might offer savings.
      • Look for certified pre-owned vehicles
      • Exploit depreciation on electric vehicles
    • Negotiate the Price: Don’t settle for the sticker price. Negotiation can yield discounts.
      • Research the vehicle history and market value
      • Present competitive quotes from other dealers
    • Financing Options: Choose affordable financing plans with low-interest rates.
      • Investigate credit unions for better rates
      • Consider manufacturer’s financing deals
    • Evaluate Total Ownership Costs: Factor in charging costs, maintenance, and insurance.
      • Electric vehicles typically have lower maintenance costs
      • Compare insurance rates for electric vehicles
    • Stay Informed on New Models: Upcoming models might offer unexpected bargains.
      • Watch for end-of-year sales or clearance deals
      • New manufacturers like Rivian and Lucid may have offers
    Comparison Chart of Top Electric SUVs
    Model Price Range Range (miles) Federal Incentive
    Tesla Model Y $53,000 – $66,000 330 Up to $7,500
    Ford Mustang Mach-E $43,000 – $60,000 300 Up to $7,500
    Hyundai Ioniq 5 $40,000 – $60,000 300 Up to $7,500
    Volkswagen ID.4 $41,000 – $55,000 260 Up to $7,500
    Chevrolet Bolt EUV $33,000 – $40,000 250 Up to $7,500
    Mind Map for Electric SUV Purchase Strategies
    • Research
      • Market Understanding
      • Potential Incentives
    • Buying Options
      • New Models
      • Used Cars
    • Financial Considerations
      • Incentives
      • Negotiation
      • Financing
    • Total Cost of Ownership
    Statistics on Electric Vehicle Adoption
    Year Percentage of Electric SUVs
    2020 2%
    2021 3%
    2022 5%
    2023 7%
    2024 (Projected) 10%
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