{"id":57567,"date":"2024-07-22T14:51:47","date_gmt":"2024-07-22T18:51:47","guid":{"rendered":""},"modified":"2024-08-27T09:02:28","modified_gmt":"2024-08-27T13:02:28","slug":"4-things-to-know-about-buying-and-owning-an-electric-vehicle","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/4-things-to-know-about-buying-and-owning-an-electric-vehicle\/","title":{"rendered":"4 Things to Know about Buying (and Owning) an Electric Vehicle"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/automobile\/\">\n\t\t\t\t\t\t\t<span>Automobile<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">4 Things to Know about Buying (and Owning) an Electric Vehicle<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Jacob Henriksen-Willis<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Close-up of fast charger plug in vehicle charging port, woman with groceries waiting for her car to be charged on background\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg 2120w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2022\/11\/Image-for-AF-article-4-Things-to-Know-about-Buying-and-Owning-an-Electric-Vehicle-1.jpg?resize=2048,1366 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=4 Things to Know about Buying (and Owning) an Electric Vehicle &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/4-things-to-know-about-buying-and-owning-an-electric-vehicle\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/4-things-to-know-about-buying-and-owning-an-electric-vehicle\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published July 22, 2024 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr  mar-b-hlf\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h2 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h2>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>There are several types of electric vehicles and charging options<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>The charging infrastructure in Canada is picking up. Today there are over 27,000 charging stations across the country<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>The&nbsp;<a href=\"https:\/\/apps.royalbank.com\/apps\/car-loans\/payment-calculator\" data-dig-id=\"LP-57567-788a8d7f\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Car Loan Calculator\" class=\"rbc-link-format\">RBC Car Loan Calculator<\/a>&nbsp;can help you estimate your monthly loan payments<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Use the&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/sustainable-finance-solutions\/electric-car-guide\/electric-car-cost-calculator\/tool\" data-dig-id=\"LP-57567-06b9587e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Electric Car Cost Calculator\" class=\"rbc-link-format\">RBC Electric Car Cost Calculator<\/a>&nbsp;to get a cost comparison between EVs and gas-powered vehicles<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p>Many Canadians are looking to make the switch to electric vehicles (EVs) for both environmental and financial reasons\u2014 saving on gas alone can make an EV an enticing option. While there is a lot of buzz surrounding EVs as the vehicle of the future, you may still have some questions.<\/p>\n\n\n\n<p>If you\u2019re thinking about buying an electric or hybrid vehicle, here are four things to consider.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. What types of electric vehicles are available in Canada?<\/h2>\n\n\n\n<p>There are 4 types of EVs currently on the market.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Battery Electric Vehicles (BEVs)<\/strong>&nbsp;run on electricity only and are recharged by an external power source. This is the most environmentally friendly option as BEVs produce zero emissions. Almost all BEVs can travel at least 160 km on a full charge, and new models are coming to market that can go between 450 km and up to 800 km between charges.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Plug-in Hybrid Electric Vehicles (PHEVs)<\/strong>&nbsp;use a battery that can be charged as their primary power source, just like a BEV. The difference is that plug-in hybrids also have an internal combustion engine powered by gas. By driving moderate distances (usually around 30 to 80 km) using only the battery, PHEVs use&nbsp;<a href=\"https:\/\/theicct.org\/sites\/default\/files\/publications\/PHEV-white%20paper-sept2020-0.pdf\" target=\"_blank\" data-dig-id=\"LP-57567-446b100a\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"between 14 and 47 per cent less fuel\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">between 14 and 47 per cent less fuel<\/a>&nbsp;than typical gas-powered cars and SUVs. These EVs are usually more expensive up-front, but can offer savings over time.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Hybrid Electric Vehicles (HEVs)<\/strong>&nbsp;have a fuel combustion engine powered by gas as their main power source for higher speeds. But at low speeds, HEVs use electric power from a battery. They offer the convenience of refuelling at a gas station, but these cars may be more expensive and produce more carbon emissions than other EV options.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Fuel Cell Electric Vehicles (FCEVs)<\/strong> are powered by hydrogen versus a battery. Like a BEV, they produce no harmful tailpipe emissions and are more efficient than gas vehicles. FCEV awareness, availability and infrastructure is more limited in Canada compared to BEVs for now.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Wondering how much an EV will cost you? With the&nbsp;<a href=\"https:\/\/apps.royalbank.com\/apps\/car-loans\/payment-calculator\" data-dig-id=\"LP-57567-67f8041b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Car Loan Calculator\" class=\"rbc-link-format\">RBC Car Loan Calculator<\/a>, you can estimate your loan payments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. What are my charging options?<\/h2>\n\n\n\n<p>The distance you can drive on a fully charged battery before you need to recharge can be a real concern for some EV buyers. In fact, \u201crange anxiety\u201d is one of the primary reasons many people are reluctant to buy electric vehicles.<\/p>\n\n\n\n<p>While charging stations are still not as common as gas stations, the good news is that the infrastructure around EVs is improving rapidly. In the 12-month period ending March 2024, over 6,700 DC fast and Level 2 chargers were added to Canada\u2019s charging infrastructure. This is a 32.7 percent increase in one year. As of March 1<sup>st<\/sup>, National Resources Canada data reveals that Canadian EV drivers have access to over 27,000 public charging ports located at 11,000+ public charging station locations across the country.&nbsp; This increase is&nbsp; on the heels of the government of Canada\u2019s 2022 pledged to fund the installation of&nbsp;<a href=\"https:\/\/www.cvma.ca\/wp-content\/uploads\/2022\/05\/Closing-the-electric-vehicle-charging-infrastructure-gap-May-11-2022-final.pdf\" target=\"_blank\" data-dig-id=\"LP-57567-b7fcf033\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"50,000 new EV charging stations\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">50,000 new EV charging stations<\/a>&nbsp;around the country by 2030.<\/p>\n\n\n\n<p>Many public charging stations are free to use, and those that are pay-per-use cost around $2.50 per charge on average. Charging an electric vehicle can take some time, though, depending on the type of charger and vehicle you\u2019re working with. Using a Level 2 charger, a typical BEV can take 4-10 hours while a PHEV\u2019s charge time can be as low as 1-2 hours. With a DC fast charger, charging time can be as low as 20 minutes for a BEV.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Can an electric vehicle handle Canadian winters?<\/h2>\n\n\n\n<p>Yes! EVs may even be&nbsp;better&nbsp;equipped&nbsp;to handle the harsh winter months than conventional gas-powered cars. The batteries in EVs and hybrid vehicles are designed to withstand temperatures well below zero.<\/p>\n\n\n\n<p>It also takes less time to warm up an EV than cars with internal combustion engines. And if you can charge your EV at home, you won\u2019t have to brave the cold weather at the gas pump anymore!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. What\u2019s the cost of owning an EV?<\/h2>\n\n\n\n<p>While most electric vehicles cost more up-front than gas-powered cars today, the lower cost of driving your EV may save you more in the long run. You may find your electric car or hybrid SUV a more affordable option because:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Lower maintenance costs<\/strong>.&nbsp;Maintenance costs are typically far lower for electric vehicles than for gas vehicles. The battery and motor of an EV require little to no maintenance, you don\u2019t have to check or change the oil, and there are fewer moving parts in EVs in general. Over time, this may save you plenty of money.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Lower fuel costs<\/strong>.&nbsp;According to the&nbsp;<a href=\"https:\/\/climateinstitute.ca\/new-analysis-finds-most-canadian-households-will-save-money-in-switch-to-electricity\/\" target=\"_blank\" data-dig-id=\"LP-57567-e9f10bef\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Canadian Climate Institute\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Canadian Climate Institute<\/a>, the average Canadian driving approximately 15,000 km spends around $2,000 on gas annually. The average annual cost of electricity for BEV owners is typically only around $350. If you\u2019re driving a plug-in hybrid, the combined cost of electricity and fuel is around $700 a year.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Government of Canada point-of-sale rebates<\/strong>.&nbsp;To help reduce greenhouse gas emissions, the Federal Government is offering $2,500 and $5,000 rebates to buy or lease EVs and hybrid vehicles. Other incentives&nbsp;<a href=\"https:\/\/www.caa.ca\/sustainability\/electric-vehicles\/government-incentives\/\" target=\"_blank\" data-dig-id=\"LP-57567-2d37bac3\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"vary by province\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">vary by province<\/a>, but they can help ease up-front costs.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Want to compare costs? The&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/sustainable-finance-solutions\/electric-car-guide\/electric-car-cost-calculator\/tool\" data-dig-id=\"LP-57567-c0639b6f\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Electric Car Cost Calculator\" class=\"rbc-link-format\">RBC Electric Car Cost Calculator<\/a>&nbsp;can help you calculate the cost of an EV versus a gas-powered car over the life of your vehicle.<\/p>\n\n\n\n<p>Read next: <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/is-now-the-right-time-to-buy-an-electric-car\/\" target=\"_blank\" data-dig-id=\"LP-57567-defa9623\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Is Now the Right Time to Buy an Electric Car?\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Is Now the Right Time to Buy an Electric Car?<\/a><\/p>\n\n\n\n<div class=\"wp-block-group has-light-grey-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading\">Looking to buy a new car? Before you visit a dealership, try these tools first:<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\">Prequalify for an auto loan.&nbsp;<a href=\"https:\/\/apps.royalbank.com\/apps\/my-auto-affordability\" data-dig-id=\"LP-57567-91556773\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Find out\" class=\"rbc-link-format\">Find out<\/a>&nbsp;how much you of a loan value you could qualify for, before visiting a dealership.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Estimate your monthly loan payments.&nbsp;<a href=\"https:\/\/apps.royalbank.com\/apps\/car-loans\/payment-calculator\/\" data-dig-id=\"LP-57567-a4640077\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Use the RBC Car Loan Calculator\" class=\"rbc-link-format\">Use the RBC Car Loan Calculator<\/a>.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-86cdc410-bea7-490d-8930-b0614bff3a3d\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-5a41510e-ffaa-4a7c-bcb4-a3be1135da29\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=4 Things to Know about Buying (and Owning) an Electric Vehicle &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/4-things-to-know-about-buying-and-owning-an-electric-vehicle\/\">\n        <img decoding=\"async\" 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class=\"wp-block-tk-spacer id-265f70ed-9802-47f7-b637-2730e75949e9\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/automobile\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Automobile<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/savings\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Savings<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-04-14T141643.631.jpg?quality=80&amp;w=930\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A guide to Canada&#039;s electric car incentives and rebateswoman plugs her electric vehicle in to charge.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-04-14T141643.631.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-04-14T141643.631.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-04-14T141643.631.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/\">\n\t\t\t\t\t\tFinding the Right Car\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/going-electric-a-guide-to-canadas-electric-car-incentive-programs\/\" class=\"card-title h4 mar-t-0\">Going Electric: Canada&#8217;s Electric Vehicle Rebate Programs<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Happy multiracial couple receiving keys of their new car from saleswoman in showroom.\u00a0\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=1536,1024 1536w, 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Environment<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"576\" height=\"384\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/Picture1.jpg?quality=80&amp;w=576\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A woman leaning against a car\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/Picture1.jpg 576w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/Picture1.jpg?resize=300,200 300w\" sizes=\"auto, (max-width: 576px) 100vw, 576px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/\">\n\t\t\t\t\t\tFinding the Right Car\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/can-an-ev-save-you-money-5-factors-to-consider\/\" class=\"card-title h4 mar-t-0\">Can an EV Save You Money? 5 Factors to Consider<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-86cdc410-bea7-490d-8930-b0614bff3a3d {\n\t\theight: 20px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-86cdc410-bea7-490d-8930-b0614bff3a3d {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-5a41510e-ffaa-4a7c-bcb4-a3be1135da29 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-5a41510e-ffaa-4a7c-bcb4-a3be1135da29 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-265f70ed-9802-47f7-b637-2730e75949e9 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-265f70ed-9802-47f7-b637-2730e75949e9 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Answers to the top questions Canadians have about owning an EV.<\/p>\n","protected":false},"author":10,"featured_media":88280,"parent":57288,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[242,48],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[278],"rbc_difficulty_level":[33],"rbc_mmm_category":[307,342,341,303],"class_list":["post-57567","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-automobile","tag-savings","rbc_content_type-article","rbc_lob_group-auto-finance","rbc_difficulty_level-beginner","rbc_mmm_category-buying-a-vehicle","rbc_mmm_category-financing-your-car","rbc_mmm_category-finding-the-right-car","rbc_mmm_category-goals-aspirations"],"acf":{"contently_publication_id":"339098","custom_author":"Jacob Henriksen-Willis","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Answers to the top questions Canadians have about owning an EV.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/finding-the-right-car\/4-things-to-know-about-buying-and-owning-an-electric-vehicle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Answers to the top questions Canadians have about owning an EV.\" 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