I drive a 05 Ford Escape probably worth $1,500 as is and I have a 1k repair to get it back up and running.
I’m interested in leasing, but just started researching so I’m having trouble calculating what path I should take as someone with a pretty low income.
Could anyone ball park what kind of deal you think I could get in Indiana if I’m open to driving any cheap EV? Also what expense should I expect on installing a charger at home?
Last option I’m considering is to buy a used EV/PHEV for 10-15k that qualifies for the 30% tax break.
Hyundai Ioniq
Nissan Leaf
Chevy Bolt
Chevy Volt
Ford Focus Hatchback
Mitsubishi Outlander
Hyundai Kona
Toyota Prius Prime (High Mileage)
Ford Fusion Energi
Kia Niro
Volkswagen e-Golf
Ford C-MAX Energi
Honda Clarity
Tesla Model 3 (High Mileage)
So I just got an excellent lease deal (IMO)—a bit over $5k for 24/10k on a blazer ev. i really love this car so far. it’s definitely going to cost me extra though
My estimated total lease expenditure here: $5250 + potential $395 disposition fee if i return, ~2000 in additional insurance payments over two years because i’m in a much more valuable vehicle, ~$600 reg next year compared to a quarter of that on my old car, any wear and tear which i’m hoping to avoid.
Now: 20k miles would be roughly 1k gallons of gas with my old car. There are a decent number of free options for me to recharge at my apartment/around me, i’m guessing that’s roughly $4500 in gas. I’m thinking I could probably do the same number of miles for $1500. So $3k in savings. If I do a PNO of this vehicle next year (unclear if i will, it’s presently cheaper to keep two cars on my policy, but if that changes) that’d trim $150 off my lease reg renewal delta.
So $8k minimum additional for the car, $3k or more in savings. I’m avoiding a few bits of upside in the lease’s favor (future lease exchange/conquest—that’s mostly the only way deals with 25+ years on the calc get done) rewards points that i think should be worth $300+ when i could only get like $50 on gas rewards there), but on pure costs i think that’s fair. Also worth noting my old car tended to require more annual maintenance, which is probably a point in the lease’s favor. I have found it worth it so far
Remove anyting Hyundai or Kia from years 2011-2021. You will have an issue with getting insurance due to theft issues. Most carriers are not taking them- the carriers that do will charge a premium.
