Why Buy Electric with Patrick Cadillac?

The future is electric and Patrick Cadillac is excited to be a part of that with the soon-to-be-released 2023 Cadillac LYRIQ. In the interim, we thought we would inform you of the best things about owning an electric vehicle (EV) so you can be prepared for when the LYRIQ launches.

• Electric vehicles are better for the environment
  • Without an exhaust system, EVs are naturally environmentally friendly as they do not emit any sort of negative emissions into the atmosphere unlike gas powered engines. This allows these types of vehicle to help achieve cleaner air and fewer greenhouse gases.
• Electricity is cheap and renewable
  • Gone are the days worrying about what the gas prices will look like from year to year. Electricity is a cheaper fuel source than gasoline and is even renewable. The average American spends between $2,000 and $4,000 on gas every year. An EV can help eliminate that.
• Less expensive and frequent maintenance
  • Since an EV is fully electric, it does not require oil to lubricate an engine. This means that you no longer need to take your vehicle in for regular oil checks. This is also true for other gas-related engine maintenance that could cost a pretty penny.
• Tax credits
  • Original owners of EVs can also receive credits on tax returns for simply owning an EV. Some car owners can get up to $7,500 in credit in some states for certain cars. State incentive programs for Electric vehicles vary in their scope and applicability. While tax incentives are most frequently mentioned, rebates, HOV access, toll reduction and sales tax exemptions are also offered. States currently offering tax incentives include California, Colorado, Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Pennsylvania, Oregon, and Washington DC – however the list is always changing. These state tax incentives currently range from $500 to $5,000. Please consult your knowledgeable financial planner or tax specialist to determine how the state and federal incentive may apply to you.

Buying an EV does not mean you are sacrificing luxury or performance. In fact, you are adding an environmentally conscious element to an already luxurious driving experience. The upcoming 2023 Cadillac LYRIQ gives you that expected Cadillac power and luxury and makes it electric. For further information on the LYRIQ check here or give us a call at 847-230-8240. If you’d like to learn more about EV and PHEV, please click here.