By Christopher Mims

The case for buying an EV has never been stronger -- but only for about half of U.S. households. This is a guide to figuring out which half includes you.

The impending expiration of up to $7,500 in federal incentives for EV buyers and lessees on Sept. 30 has led to an EV buying binge, and created a now-or-never decision for millions of Americans. But many are still in the "not yet" camp: supercommuters, anyone hauling heavy loads long distances, those who can't charge at home or at work, and most folks in the market for a used car.

These are reasons people should consider an EV, and what factors to weigh, now and in the future.

Affordability is in

New EVs that satisfy the needs of most drivers can be had for under $40,000 -- not counting the soon-to-be-gone tax credit. Many are from American carmakers, and still more are made in America.

The result is that Tesla is no longer the only option for an affordable, high-performance EV. Good entry-level options from GM, Ford, Kia and Hyundai are here now, and promising additions from Nissan and Subaru are coming soon.

These vehicles charge quickly, have ranges around 300 miles and include all the latest bells and whistles, including the head-snapping acceleration EVs are known for.

"I got the [Hyundai] Ioniq 9, and I was on the highway -- and I drive my cars hard, I'm a lead foot. And I was just like, 'Holy s -- ,'" says Erin Keating, an executive analyst at the services firm Cox Automotive, and a self-professed EV skeptic. Part of what persuaded her to switch was the EV's better torque, horsepower and weight distribution.

Entry-level EVs are now better than equivalent gas vehicles in many small ways that, added up, can make going back to the old way of driving feel a little like replacing central heating with an indoor fire pit. If performance, reliability and abandoning gas stations don't sell you on an EV, just imagine this: No more oil changes, ever.

Lifestyle matters

Here's a mental exercise to gauge whether an EV might make sense in your life: How do you actually use your car?

Many people still cite range anxiety as a reason to avoid EVs, but the average driver in the U.S. travels 33 miles a day, according to Federal Highway Administration data. Just a plain old wall socket is typically enough to recharge that amount of energy overnight, at a cost meaningfully less than gas.

If you drive a lot more, you'd probably want a faster charger at home. If your garage doesn't already have a 240-volt socket required for that, the kind you'd plug a dryer or heater into, your electrician can probably wire it up for you. Just remember: If you live where winters get very cold, the range of your vehicle will be significantly reduced -- potentially 25% or more.

Range trepidation is understandable for people who spend their lives on the road, but as my recent reporting reflects, public fast chargers are more plentiful and better than ever.

Some of this might be convenience anxiety: Many people compare the time it takes to charge an EV to the time it takes to fill up a conventional vehicle, and decide it just isn't for them. But fast charging has made even desperate, middle-of-nowhere charge-ups fairly quick, and usually next to a place that sells a decent sandwich and cup of coffee.

The caveats

The other EV vs. gas complication is, of course, money. While an EV can save you around 50% on fuel and maintenance when comparing new vehicles, the overall equation changes if you're looking to buy a used one. And most Americans are, says Keating, since new cars are more expensive than ever.

The average selling price of a new vehicle in the U.S. is approaching an eye-watering $49,000. Compared to that, the many EV models under $40,000 sound affordable. Cars like the Chevy Equinox, the Ford Mustang Mach-E and the newly redesigned 2026 Nissan Leaf are priced to move. But popular used models of the gas variety now go for an average of $29,000.

Take note: EVs have evolved so quickly that older models generally don't stack up to the newest ones, except perhaps with Teslas. In the used market, gas is still king.

And while you will save on gas and oil changes with an EV, you will pay more for insurance. Based on quotes from Insurify's online comparison platform, about 50% more. Also, because of their weight and aggressive acceleration, EVs eat tires faster.

The longevity of batteries isn't an issue anymore, however. EV batteries are now likely to outlive the cars they power, according to telematics company Geotab.

Now? Or in a few years?

Analysts at Cox Automotive don't anticipate a nosedive in EV sales after federal incentives end, says Keating. She calls what's coming more of a speed bump than a Thelma and Louise-style ride over a cliff. Some states will continue to offer their own incentives. And automakers built more EVs than people wanted, so manufacturers are currently offering exceptional deals. Most of those manufacturer incentives will persist, she says.

As new EV options hit the market, competition will keep prices low as well. Ford, GM and startups like Slate Auto have promised to bring significantly more affordable new models to market as soon as late 2026.

We're often promised that better EV tech -- 400-mile range, even faster charging, more driving-assist features -- is coming by decade's end. But EV tech is more than good enough now, says Keating. The real barriers to adoption are affordability and familiarity, she adds.

For early adopters, these are already non-issues. Many more of us are likely to be facing them -- and making peace with them -- soon.

Write to Christopher Mims at christopher.mims@wsj.com

(END) Dow Jones Newswires

September 05, 2025 19:00 ET (23:00 GMT)

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