My spouse is relocating from abroad to live with me early next year, and we’ll need an additional car. Initially, I’m inclined to explore leasing for the first time due to its lower risk and seemingly affordable monthly costs across various models. I am looking for the AWD SUV and Ioniq 5 catching my eyes.
Nevertheless, considering that this year marks my final eligibility for the EV tax credit, I’m contemplating whether I should go ahead and order the Tesla Model Y now and think later. The price for LR AWD could be around 38,000$ after tax credit.
I can’t talk for the Hyundai, but test drive or sit in a Model Y first. It’s not a true SUV imo. Cargo space is extremely limited because of the sloping roofline and the visibility out the back window is pretty bad.
Inventory models for the Model Y are currently discounted (versus ordering). Seeing them as low as $45.5k before tax incentives in my area. DM me if you want a referral link - you get 3 months free full self driving if you take delivery by end of the year with referral if you buy
although my friend told me that Tesla is powerful in its performance.
but none of us bought that, cause its interior is just horrible.
bmw i4 looks super cool
Who’s the primary driver of this new car, your spouse? What does your spouse think of these cars?
There are other cars to consider such as the Mustang Mach E which is much better at being a crossover than a jacked up 3. Tesla build quality also doesn’t hold up very well. Wireless Apple CarPlay is also easier for people who don’t want to learn a new UI/UX.
Ultimately you should buy something if you’re confident you’re to going to hold it for 4+ years. Otherwise take any of the attractive EV lease offers in the Marketplace
While my spouse doesn’t have a specific preference, I’m eager to acquire an electric SUV, particularly considering the current incentives like reduced sales tax in WA and the qualified EV tax credit. Affordability and these incentives will be pivotal in my decision-making process. I don’t strongly favor any particular models like Mach-E, Ioniq 5, ID.4, Tesla Model Y, etc. However, based on numerous reviews, the Ioniq 5 seems to receive a lot of praise.
I’m planning to lease next year when my spouse arrives, and there are several enticing options available for under $450 per month. Nevertheless, I’m deliberating on whether purchasing now to take advantage of the EV tax credit is the most sensible choice. The fact that no one strongly suggests buying a Tesla now convinces me to wait and opt for leasing next year.
Somewhat related to OPs question, does the 7500 that manufactures are rolling into their EV leases expire at the end of this year? Or is this rolling into next year?
If you’re just looking for an appliance to get you from point A to point B, and you qualify for the federal credit, get the cheapest Model 3 in inventory. If you really feel like you need the extra space, get the cheapest Y, but as Max said above, it’s just a vertically stretched 3 without much thought, so it moves the center of gravity up, and just feels not as planted. If you really have a use case where you’re going to be constantly driving more than 220 miles, get the dual-motor, long range version, but with Tesla’s supercharger network, you will be fine with the standard version.
I have an Ioniq 5, and a close friend of ours has an ID4, and another a Model Y. The Tesla beats everything as far as traveling because of the supercharger network, hands down. It also has a better stereo, nav, and overall infotainment and tech. The Ioniq 5 and ID4 are quieter and provides better ride. But it seems like everyone is happy with what they have.
Is probably to wait until you both can test drive and choose together. You never really know when something seemingly minor becomes a deal breaker or maker.
Especially when different types of OPD (one pedal drive) and UIUX are involved.
From my experience of owning multiple electric cars over 7-8 years, performance on electric car is kind of gimmicky. It’s just quick but you don’t feel your heart racing like a 911. You are not going to being an EV to the tracks and on public roads it’s just not that useful at certain point. It’s fun first few weeks but after that you won’t really care and all you will notice are the cheap interiors and rattling plastic.
I’m contemplating opting for the alternative choice of purchasing the base model 3, which is listed at around $35,500 (MSRP at $38,990). After factoring in the EV tax credit, the cost would be $28,000 (with a net payment of $32,000). Assuming a 40% depreciation over three years, the resale price would be $23,400, resulting in a total cost of only $9,000 or an average of $250 per month.
Do you believe it’s a no-brainer to make this purchase now? Also, it appears that the lease in Washington is not as affordable as other state.
The only factor currently giving me pause is the inconvenience of owning two cars when I only need one until my spouse joins (expected in March 2024 at the earliest). I would need to rent additional parking space (approximately $150/month), pay extra insurance (around $60/month), and cover a registration fee of $700 plus. Another option is to buy tesla 3 now and sell my 2016 Mazda 3, which actually still have long life to go with 33,000 miles.
Why is 40% depreciation based on pre credit price? The actual price is more of post credit since most people would get this credit. Post credit 40% depreciation would put it at 16.8k.
Time value of money. At an environment when even bank is paying 5% interest. If you are paying cash and not taking a loan, you need to consider minimum 5% interest lost a year as additional costs.
I just test drive model 3 and somewhat don’t feel much upgrade from my Mazda 3 in terms of comfort and handling. I don’t care much about acceleration and tech, and maybe that’s why. I also don’t feel comfortable with model 3 seat.
Combined this with your suggestion, I will wait and lease a nice SUV next year then. Thanks again.
