Tag Archives: EV charging

EVs & present bias

Why smart car shoppers miss out on major savings

Humans have the capacity to think through problems carefully, but we’re also hardwired to make ‘intuitive’, automatic decisions. This is what psychology experts have labelled as system 1 and system 2 thinking. You may not be aware of it, but your intuition might prevent you from saving tens of thousands of dollars when you buy your next car.

As you perform complicated tasks such as driving or even simple tasks such as tying your shoes, you often rely on your intuition to automatically guide you through the process. Our intuition helps us simplify information and operate in modern society, but it can also lead us to make mistakes. Researchers have identified a long list of cognitive and emotional biases (think of them as mental shortcuts) that prevent people from making the best decisions. In this article, I’ll focus on how Present Bias and Loss Aversion Bias prevent car buyers from making the best financial decision when they choose between buying an electric or gas car.

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EV chargers overview

What you need to know about electric vehicle chargers

Electric vehicles are increasing in popularity. In fact, the odds are good that the next car you purchase will be partially or fully electric. (I know mine will be!) With that transition from an internal combustion engine vehicle to an electric vehicle (EV) comes one major difference: how you fill the “tank”. 

While driving to a gas station to refuel is second nature to anyone with a car, plugging into an electric vehicle charger is likely a new experience that comes with a series of questions. Here’s what you need to know about EV chargers. 

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