Friend of mine is considering purchasing a 2022 Kia Niro EV EX.
They can be had for around $20k, he likes the range and he was asking my opinion on the car.
I never think about ownership issues on any car since I only lease and I don’t have any experience owning a used EV so I wanted to get some feedback on the car from people who drive one:
Nobody has any experience in owning EVs long term outside of Tesla model 3/s/x, they are just not old enough. But what he should consider is how quickly the technology is changing and it probably won’t have much resale value pretty quickly.
Does the warranty on Kia EVs stay the same for 2nd owner and later?
What is his charging situation? At home or stuck with using fast chargers? If he can’t charge at home / work, EV is probably not a good idea to begin with.
What state is he in? If he’s where it’s cold a lot, did he consider range implications?
I am about to get this deal (found in this forum):
2023 Kia Niro EV Wind
MSRP 41xxx
3000 Due at Signing
237/mo+tax (268/mo w/out Loyalty)
36/10k
Tax not included
Loyalty Included
This will be my 3rd Niro in a row. Last one was a plugin-hybrid. This will be my first EV. As @Logi mentioned, it’s good to have a charging set-up. I’m in CA so the charging infrastructure is good. @Logi 's best point is that the technology keeps changing. Not sure of your friend’s financial situation but I would lease if possible so you don’t get stuck with trying to sell the car later.
I’d put more serious thought into it if good lease deals on new ones didn’t exist.
all valid points.
Charging setup won’t be a problem, he can install a charger at home.
leasing won’t work for him, he drives too many miles. He’s currently driving an mid 2000s Land Cruiser at $6/gal in CA and the gas costs are starting to add up.
So… is an EV right for him?
And if it is, an EV with the $7,500 tax credit on a purchase and/or new car loan promotional APR might be the best play.
Used car financing means he’ll pay a lot more than $20k in the end.
he’s not financing. Whether EV is a good idea is his decision. I said get a used Lexus Hybrid and be done with it but he wants an EV.
I had a Hyundai Kona electric for the last few years. Very similar in nature to the Kia Niro. It was a great car overall. Technology package for the price was awesome. Excellent range for 2020. I test drove a Kia Niro back when I got the Hyundai Kona and felt they were pretty much interchangeable. Both were fun, zippy little cars.
I considered buying out my Kona electric at lease end. The reason I didn’t is that the car was just a little too small for my family’s needs as my kid has gotten older. He was already starting to fit poorly in the backseat, a problem that was only going to get worse and worse. If your friend has young kids who fit well now, they might not a year or three down the road.
I’m not as worried about depreciation on this one as others seem to be if the car works for your friend. Let’s say the Kia drops another 50% in value ($10k) over the next 3 years, that’s not bad in comparison to what would have been paid out over a lease for the next 3 years.
Lease, grab 7500 credit, buy out, profit?
he’s not trying to flip and profit
I mean it as profit himself, my brain switches to meme format of speaking on the forums 
He can lease it, get the 7500 credit and keep it while profiting by having US government sponsor part of the purchase. It’s definately something to look into while weighing options
This list will dwindle after 12/31 so he better get on with it.
New gas Corolla, Elantra or forte if he goes for ICE. Not used, not hybrid. The numbers just don’t make sense.
All things considered with his situation I would focus on finding a used hybrid rather than an EV.
my thoughts exactly.
My biggest concern was the reduction gear failure which is shared by the Kona and the Niro. Some people say just changing the gear oil before the maintenance schedule mitigates the issue, but I’m not so sure. I’m sure it doesn’t affect 100% of the vehicles, but I suspect there is either a design or manufacturing issue that affects a lot of cars. The residual on my Kona was $19k, and I was attempted to just keep it, but I didn’t want to risk it.