Optimizing cars in the household: Please chime in!

Looking to pick hackers brain because it is time to shuffle the vehicles in the household.
Some facts to start with :

  • Currently own a 2018 JGC Limited 4x2 in Socal that I bought from lease a year and a half ago for 21K. Probably worth around the same right now. Will need tires soon, also drivetrain warranty will expire in November.

  • Leasing an 2020 i3 going back to BMWFS in a few weeks at $280/mo all in.

  • Wife and I mostly work from home . She is adamant to have two vehicles in the houselhold one being an SUV . She doesn’t care about luxury. Insurence is less than $100/mo for two cars both full coverage. For the record, I checked quotes for more expensive cars ( Tesla 3,Y, BMW Ix, Merc EQS, (used) Porsche Cayenne, insurance doesn’t go up significantly.

  • Want to stay $1k/mo total cost to own for both vehicles but wont mind going up a little bit. I want a new-ish Cayenne or full size Range Rover.

  • We will qualify for $7500 federal EV credit but will NOT qualify next year. Not qualifying for state rebate.

Option 1 - Replace i3 with a (discounted) Model 3 or Tesla Model Y purchase. Keep JGC. This may be the most financially logical option.

Option 2- Replace JGC with a Tesla Y and buy a beater to replace the i3 . Beater wont get a lot of use but will make a nice back up . There are many mainstream sedans ( Sonata, Passat , Optima) between $5-8K from 2014-2016 era.

Option 3 - Replace both cars with a new Tesla Y and a new Tesla 3. Capture $7500+$7500 credits.

Option 4 - Replace JGC with a 2019-2020 Porsche Cayenne.Non CPO’s are under $50K and CPOs are under $60K. Get a beater as the second car.

My heart is on option 4 because we will spend most of our driving time in a nice Cayenne but losing the tax credit and potential issues with the non warranty ICE repairs are concerns.

What do you guys think?

Option 1. It’s much easier to do road-trips in a gas car. You can do it in a Tesla, but with gas, you can drive 80mph and fill up almost anywhere in 5 min. You can get a Model 3 for $30k after fed credit, even less if you qualify for the state credit. I personally drove a Jeep beater before I started leasing, and it’s nice not having anxiety about it breaking down somewhere. You’re GC is not that old, and if only use it for road-trips and back up, it should last a while with just minimal maintenance costs


“Total” cost meaning 2x payments and insurance under $1k per month?

  1. Now that sub 1% APRs are coming back and your wife wants a non-luxury SUV, a brand new non-luxury SUV makes the most sense for the first one.

  2. Any EV other than a Model Y, IMO.

1 Like

Where the sub 1% apr’s?


durango 392 :smiling_imp: .00006

1 Like

I want your insurance broker cause this is bananas for SoCal. 100/300 Bolt EUV coverage is $100/mo on its own. I pay more for insurance than I do my own lease payment.


Hyundai Tucson and Santa Fe, for example

Those are not cars - those are econoboxes - better off riding a bike


Upper trim Hyundais and Kias blow away something plastic fantastic like a Mercedes GLB.


Nobody said GLB or Mercedes - a proper car is a Toyota

The king of the econobox


Yeah but it lasts - you’ll still see 4Runner’s on the road from the 90’s

Nah, those are 2023s, they just havent changed in 30 years so its an easy mistake to make.


Geico with $2500 deductible in OC.

Total cost to own means the money goes down the drain. [Lease payments+ insurance] or [finance payments - +insurance+ repairs - equity] . Not too strict on 1k/mo but somewhere there. Planning to keep them 2-3 years. For both ( hence a luxury used suv + beater option ).

I know what TCO is, I was wondering if you did because with what you are looking for at 2 cars at $1k per month you are dreaming.

Hmm that’s who I have too and same location. I think my deductible only $1k though. Sounds like I may have to push that baby up a little bit

You socal folks get uninsured motorist? I do but not sure if I’m throwing money away.

Absolutely. UMI isn’t just for other drivers with no insurance, but also under-insured motorists.