High mileage lease vs buy?

I am currently looking at a circumstance where I may be commuting for work roughly 180 miles per day (currently work remote)…my current car is 2013 Camry that has 200,000 on it and has been great, but if I’m going to be driving 1.5 hours each way want something that’s more fuel efficient and more comfortable/easier to drive with the new driver assist features. I have never leased before, and prior to this I was planning to do so, but now I have no idea what to consider or how to find somewhere that would do something in the range of 30,000 miles per year?

I have not decided on any specific make or model, but do know that I want a PHEV or EV that has suitable range and is reliable to be driven a good distance daily without leaving me on the side of the road. So am open to suggestions is there are certain manufacturers/dealers that are more likely to work with high mileage leases if that’s worth it…or is it better to just find a car that works for me and buy it (I had assumed leasing EV’s was more likely to net a favorable deal given the $7500 EV credit pass through compared but not sure with the mileage if that will still be the case).

Thanks for any input!

180 miles/day is over 46k miles a year. I doubt any lease deal would be worthwhile, unless it’s one of those unlimited miles leases.

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You’re gonna have to finance. You could look into some of the new hybrid sedans like the Sonata or Accord. Close to 50 mpg and the top trims have great features(similar to top trim germans).

I personally would be checking to see if any dealerships are blowing out remaining 2024 Camry hybrids.

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Just something to consider with EVs. If you live in a part of the country that has cold winters, EVs tend to lose range during extreme cold temperatures. Some more so than others. Also, just like an ICE vehicle takes a MPG hit at 70+mph, EVs take a range hit, too (they do best on city roads with stop & go traffic, actually). And lastly, also like advertised MPG ratings, the advertised range may differ from real world experience.

EVs can be great - but with such a long daily commute, unless you can easily and reliably charge both while at work, and while at home, an EV may not be right for you. A PHEV or Hybrid would likely be the better choice.

I have seen brokers advertise discounts on 2024 Sccord a hybrid. That may be both easier to find and a better choice.

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Low mileage ev lease can work as long as you can charge at home/work AND you’re willing to buy it at the end. It’s all about getting all your incentives and minimize the cashflow.

CULA has structures up to 45k/yr

If you own a business or have k1/1099 income- a capital or TRAC lease can create some significant financial benefits.

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Can you share more about this? I do have a side business currently, which is actually the reason I will beginning to commute as I transition full time to this gig (and I plan on filing for an S-corp in the next month), which that is the reason I will be commuting. Otherwise I am inclined to follow the advice of most others here that have suggested financing a traditional hybrid. I will likely look towards more of a hybrid as they mentioned if I lease as well, and worst case would help me understand options for lease vs buy.

Unless you have a business where a lease could possibly be justified… (even still that is a ton of miles)

I’d heavily recommend getting something like a hybrid Toyota. You’re going to burn a bit of money regardless with that level of mileage, but you can certainly minimize the expense.

CPO Volvo w/ Unlimited Mile Warranty - choose a T8

I assume you mean “Accord hybrid?” :slight_smile:

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take a look at Ariya, they have 0.1/mile top-up

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The depreciation will be nasty.

So will the transition from ICE to EV power drive modes.

Buying a
Toyota is realistically your best bet— Corolla, Camry or Prius.

Also cheap to extend the warranty to 125k should you want to.

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Buy a Lexus ES either hybrid or non-hybrid. Other good comfortable options would be Toyota Avalon or its replacement the Crown (not as familiar with this one though). With the Avalon and Lexus ES non hybrids, you can even put regular gas and they get good highway MPG. Your back and your body will thank you.

I drove 35K+ miles/year for 8 years in a Civic and Camry, highly regret going cheap then on cars with my back issues now.

EVs range might be a challenge because you’re driving highway if covering that distance in 1.5 hours each way; this will cut down the range.

Best option is to find a closer job (easier said than done).

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