My EV Decision Tree

It’s been a while since I’ve written something about EVs, so I figured I needed a post or folks would think I’ve decided to stop badgering people about them. Well, actually, the genesis of this post was that I listened to the recent ChooseFI podcast episode titled The FI Case for Electric Vehicles. I thought it was a good episode (give it a listen), although of course there were a few answers that I wanted to expand on and provide more detail and/or nuance. (I know, it’s really difficult in a podcast to fully answer everything and, if you did, it would be so long nobody would listen.)

After listening to the episode I was thinking about how to match it up to how I think about whether purchasing an EV is right for someone (from both the financial and broader societal perspective). As is often the case, I woke up in the middle of the night thinking about this (insert “woke” joke here) and started mentally constructing a “decision tree.” I don’t know if this will be useful to anyone or not, but I figured since I (literally) lost sleep over it I would share it.

Several things to keep in mind as you look at this.

• Personal finance is “personal”, and certainly deciding on the right vehicle (or no vehicle at all) for you and/or your family needs to align with your values and your goals as well as your use case and financial situation.
• This decision tree does not include every possible consideration, as that would make it unwieldy and not very useful.
• This is my first attempt, so as I think of possible improvements (or if people suggest possible improvements), I may update it.
• Federal EV Tax Credit for New Vehicles
• Federal EV Tax Credit for Used Vehicles
• NACS stands for North American Charging Standard. It was developed by Tesla, but is now an independent standard and virtually every vehicle manufacturer is standardizing on it for all EVs they will be selling the United States. Many existing EVs that don’t have an NACS port will be able to use an adapter for NACS chargers, and as new models of EVs roll out they will have the NACS port as standard. If you are in the United States and want to take road trips in your EV, I would highly recommend getting an EV with an NACS charging port. If you don’t need your EV for road trips, then it’s nice to have an NACS port, but not necessary.
• PlugShare (all types of charge ports, including NACS ports)
• Tesla Supercharger Network (NACS ports)

So here’s my first attempt at an EV Decision Tree.

In addition to this decision tree, there are many other factors you might want to consider. The case is for you to purchase an EV is even stronger the more of the following questions you answer “yes” to.

• Are you concerned about climate change and pollution?
• Would you prefer to increase the United States’ energy independence and stop giving more money and power to countries such as Russia, Saudi Arabia, China, Iraq, UAE, and Iran?
• All things being equal, would you prefer your vehicle be made in America? (With the Inflation Reduction Act, more and more EVs being sold in the U.S. are also being manufactured in the U.S., along with their batteries.)
• Would you rather lessen or eliminate the number of times you visit a gas station, get an oil change, or have to take your car in for maintenance and/or repairs? (Start every day with a “full tank”, never visit a gas station again, no oil changes, much less maintenance and repairs.)
• Do you prefer a safer vehicle? (With a lower center of gravity and no engine block, EVs are some of the safest cars on the road.)
• Would you prefer your vehicle have a lower Total Cost of Ownership? (Not only is “fuel” much less expensive for an EV, but an EV has many fewer moving parts so will have things break much less often, resulting in less expenses and less hassle. Regular maintenance is windshield wiper fluid and tires.)
• Does your utility company offer Time of Use pricing or special EV charging pricing for electricity? (If so, then your “fuel” is even less expensive.)
• Do you have solar panels and/or battery storage at your house? (If so, they your “fuel” is even less expensive.)
• Do you not particularly enjoy shopping for vehicles and would prefer a vehicle that lasts longer so you have to purchase vehicles less frequently?
• Do you prefer a quieter vehicle?
• Do you prefer a vehicle that requires fuel that puts workers at less risk of injury?
• Do you like to car camp?

I’m sure there are many more I could add to this list (and I will if I think of them :-), but you get the idea. Note that these are just additional reasons that might tilt your decision toward buying an EV in addition to the decision tree.

In no way do I think this blog post is the “end all, be all” in deciding whether an EV is right for you. As always, everyone’s needs, value and goals are personal. But I do believe that an EV is right for the majority of people looking for a new-to-them vehicle right now, and as each year goes by that number will increase. So I’m hopeful that this post gives you at least some information that helps you think through your next vehicle decision.