29% jump in used electric vehicle sales in February shows buyers flocking to lower prices. War in Iran has pushed gasoline prices up 30% nationally, making electric vehicles look more attractive despite higher upfront costs. While new EVs still average $6,500 more than gas cars, used models like the Tesla Model 3 now cost about the same as a Toyota RAV4. Illinois and New Jersey offer up to $4,000 in incentives, while used EV sales rose 29% year-over-year according to Cox. The supply of used EVs should increase as leases expire, helping keep prices low.

Home charging remains key to savings, though installation costs $1,000+ vary by utility. Con Edison and others offer lower nighttime rates, making home charging cheaper than gasoline. Fast chargers are becoming more common, with 72,000 ports nationwide, though public charging can cost more per mile. Electric vehicles require less maintenance – no oil changes needed – and batteries retain 95% capacity after five years, though they can wear tires faster.

The decision involves more than money. Peace of mind from avoiding geopolitical fuel shocks matters, even if hard to quantify. As one expert noted, 'Anyone who can charge at home is a really good candidate.' With more affordable models arriving, including GM's Bolt under $30,000, the EV transition gains momentum despite lingering challenges.