Lease. We’re a two EV household, in NorCal, one car purchased new (2018 Model 3 Dual Motor) and one recently leased (2023 Ioniq 5, 24 month 12k mile lease around $400 a month through a broker here). I’m very happy with both of the deals. I’d unhesitatingly recommend leasing in nearly every situation at the moment.
I would not delay buying for better technology. Instead I’d delay to avoid depreciation. Ioniq 5s have been depreciating at $1.5k per month for the last months: Hyundai Ioniq 5 Price Trends and Pricing Insights
In other words they’ve been depreciating at over 1k more per month than you can lease one for- you’d need to assume that’s going to stop and reverse itself nearly immediately for purchasing to make sense. I don’t believe that.
Frankly I believe the 900 mile range solid state battery announcements are desperation on the part of a company that got EVs catastrophically wrong and will now say anything to remain relevant. If that tech pans out it will be far better deployed in 400 mile range cars that weigh less, perform better and are more efficient. But that’s beside the point: technology will continue to improve, their value propositions will continue to get better and that will in turn put downward pressure on used prices. Depreciation. Leasing is a way to avoid this while still realizing the benefits of EVs now.
We’re saving $300 a month in fuel costs on our Ioniq 5 vs the SUV it replaced (which was, as yours, fueled at Costco while our EV charging is either free or on very cheap NEM2 solar TOU rates). Insurance is similar to our old car as well, and given that we’re leasing and hence avoiding depreciation we’re hugely ahead with an EV on a monthly basis. If you can arrange a similar situation I’d absolutely say go for it, but owning and taking current EV depreciation may well wipe out those gains and then some…
I honestly don’t drive an EV thinking I am making a positive impact. I personally feel a bit guilty taking the tax payers money that could or should have been spent a little better (The Model 3 got me $15k in rebates). In my opinion it is a costly virtue signaling.
Why do you assume that DC charging stations will not continue to improve? That makes no sense, whether you look at it from the business, technological, or historical side. People that say stuff like that are either not arguing in good faith or lack the critical thinking skills to discuss new technology.
I say that as someone interested in EV’s primarily for good lease deals and who lives in a major US city with no DC chargers >60 kW.
Back in 1920 there were only 15,000 gas stations… by 1930 it went to 100,000
So it is an understatement to assume otherwise with DC stations, and this can potentially include HYDROGEN Stations @anon65069371
