Finding a car loan when you are in poor financial standing can be difficult, which is why you want to use it on a quality set of wheels when you finally do get approved for credit. Electric cars are an attractive option, but there are a few factors to take into consideration before deciding if they are right for you.
The first and foremost thing you want to consider is the cost. Lower carbon emissions don't automatically denote a lower price. When MSN Autos compared the ownership costs of electric, hybrid and gasoline-engine models, the electric vehicle initially had the highest base price. Although after 100,000 miles of use, it ended up having the lowest cost of ownership, making it the more worthwhile car in the end.
Viability is also an important factor. How long can an electric car last before it needs a recharge? The Nissan Leaf has up to a 100-mile range, although Edmunds Green Car Advisor's John O'Dell says the optimum range is about 300 miles.
Take the future of the industry into account as well. There is not a huge demand for electric vehicles at the moment, although that could change as more people become eco-conscious.