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Is it worth buying an electric car in North Carolina?
We moved to North Carolina about a year ago and my husband has been bugging me about getting an electric car. I told him I didn’t think it was worth it since there aren’t many incentives in this state. Is it worth buying an electric car in North Carolina?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It can be, but it depends on your budget. There is no tax credit in North Carolina beyond the federal tax credit.
The US has a Federal Tax credit of up to $7,500 in rebates depending on the type, and the cost of your vehicle. The state of North Carolina does have some ways you can save some money, but the options are much more limited than in other states.
Drivers who purchase and install a level 2 EV charging station are eligible to receive $500 if they are Randolph Electric Membership Corporation members or $100 for Cape Hatteras Electric Cooperative members.
Both of these companies provide Time-of-Use (TOU) rates allowing EV owners to save on their electricity bills. These rates are exclusive to members only and also include a short list of other requirements.
Buying a new EV in North Carolina may not be the way to go if it is out of your budget range. If you’re still interested, there is always the possibility of buying a used vehicle—those have great value for a reduced price.
If you’re considering buying a car, you should also buy insurance.
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