I have secured an EV6 (not in a high rebate state) for about $16500 off MSRP bringing down $52 to like 36.5k for a 24 light long range AWD with some extras installed
Also secured a decent lease at about $400 a month all in with taxes for a 23 GT-Line. Financing deals are pretty good through Kia.
I’m assuming we’ll buy out the lease eventually unless it doesn’t make financial sense or having an EV just doesn’t work for us. Monthly is not all that much different. Obviously the gt-line is a bit more plush but long range plus AWD was basically my only buying criteria
How do I weigh these given the crazy depreciation rate of new EVs these days?
Not the greatest deal in the forums but the best I’ve found in like a month of talking to 20 dealerships.
Two-year-old EV6’s are selling in the mid to low 20’s. If you really want to own one, that’s the way to go. Otherwise, you are looking at loosing around $15K in equity over the first 24 months. If not buying used, then I think you are better off leasing.
That’s what I’ve calculated as well. No way to know how that will go into the future but I can’t imagine it not depreciating at least $10k in the next 2 years and that’s about what lease is at all in. If things greatly change might be a decent option to buy since lease is on a 23 as well.
Did you mean buy at the end of the lease. The RV is 60% for a 2-yr lease. How would that make it a good purchase option?
How much is the penalty for going over the mileage limit? Still might be better than to pay that than buy something that is nearly guaranteed to have poor resale value (that will be even poorer, should you put a ton of miles on it).
700 miles is flying distance. At a bare minimum it costs 20 cents to drive a car. Then gas/juice is at minimum Another 10. 1400 mile round trip will cost in he $450-500 range. Might as well fly for that money and save 2 days of driving time.
Well, obviously an emergency trip gets an emergency plane ride out - honestly 700 miles is kinda my sweet spot for doing it in one shot, and I stop at least twice for stretching/eating/maybe one little nap as well…
paying for depreciation and miles on a lease whether I use it or not…
I’ll go with 20 cents a mileish though and still makes sense to drive with dog and dear wife money wise and convenience wise lots of times - but this is getting far of topic
Yeah but all the free charging deals are starting to clog up the EA and EVGo chargers. Locals sit around charging to 100% (the last 10% is the slowest) while road trippers arriving after them have to wait.
If you decide to do that, you will have to take out a used car loan when your lease is up. Who knows what rates would look like, but it will be nowhere near 0% APR.
Why would you ever consider financing a 1-year old (soon to be 2-year old) EV, even at such a low rate? As others have stated, EVs depreciate much faster than ICE, hence it doesn’t make much sense, IMO.
