As electric vehicles gain traction in popularity, the excitement around their potential for a cleaner, more efficient mode of transportation grows.
However, this shift also opens up new avenues for auto dealer fraud that all residents should be aware of.
Battery life and health
One of the most important components of an EV is its battery. The battery’s health and longevity can significantly impact the vehicle’s value and usability. Unfortunately, some sellers might exaggerate the condition or lifespan of the EV’s battery to make a sale. This can leave buyers facing unexpected costs for battery replacement or dealing with lower-than-expected performance.
Charging capabilities and infrastructure
Misrepresentations can also occur with an EV’s charging capabilities. Sellers may make inaccurate claims about how quickly an EV can charge or the availability of charging stations in a particular area.
Incentives and rebates
Federal and state incentives are a significant draw for potential EV buyers. These incentives offer rebates and tax credits to reduce the overall cost of purchasing an EV. However, not all vehicles or buyers qualify for these incentives. Some sellers might not fully disclose the requirements or the process to claim these benefits, misleading buyers about the actual cost savings.
The EV market is still relatively new, especially in states like Missouri and Kansas, where the infrastructure and market are in the development stage. Buyers need to be particularly diligent in researching and understanding the specifics of owning an EV. Understanding the risks of misinformation can help buyers make informed decisions and navigate the EV market with confidence.