I am just making sure but when you lease a Ev like the Hyundai’s they are the same as gas counterparts? I just see they drop in value so much so when the lease ends I can just give it back like other cars. Thank you
Because of EV technology advancing at such a rapid rate, and the battery range technology also advancing quite quickly, the value of an EV will drop MUCH higher with the same brand and MSRP of a gas equivalent vehicle.
Therefore, in MOST situations, it’s better to simply lease an EV rather than buy it. There are a few instances where it could be beneficial to buy an EV but those are very rare instances.
Plan to simply lease the EV and not to buy it.
Yes, the EV leases we discuss here are also closed-end leases.
You can pay the disposition fee and turn the car in at the end and walk away, or you can buy it for the residual value (RV) that’s defined in your contract.
Lots of non-EVs are also not worth the RV at the end of the contract.
1 Like