Hey Hackrs,
I have an old Subaru Legacy that has lived a good life and seems likely about to kick the bucket. Trade in value will be low. I need to replace it with a vehicle for shuttling 3 preschool/elementary age kids around town. We do 3 across so third row not necessary. All local driving, maybe 10mi/d, so a phev could probably be operated almost entirely as ev. I’m open to a recent year pre-owned or lease. I’d consider a payment up to 700ish/mo if the vehicle is super cool, but would prefer cheaper. I would love to hack as much car/suv value as possible for the cost. I keep reading that the EV market has cratered, but i can’t find any screaming deals in NJ region. I do not qualify for the federal EV subsidy. Also specific brands to avoid are Hyundai (Genesis didn’t get veto’d), Tesla and Mercedes. What models should I be looking at?
Polestar leasing for under $450
You can access the tax credit via leasing - sounds like you have some size requirements, so I’d start there and narrow it down. Then check the marketplace as a starting point to see if any of them pop up.
Mazda CX90 PHEV
Probably Nissan Ariya
I’m not sure smaller cars such as Kona, Niro and Polestar will be big enough. Yes any manufacturer can put three seatbelts in the rear but that doesn’t mean your children will happily fit inside.
For your needs, I suggest looking at a Ariya AWD (they call it e4orce), I’ve seen brokers advertise it in NJ/Northeast for $300-ish/month + taxes and fees DAS. You can also try your hand at some Ford Mustand Mach E, that’s a great car, and you can probably swing it for 400-500/month with 0 down. Make sure you have your desired numbers ready, don’t ask dealers for their best price, go to them with a price in hand. If they don’t play ball, move onto the next one.
'23 Mercedes EQE is also within your budget, but unfortunately you’re paying more for the badge than features, so you gotta decide which you value more.
Don’t buy preowned, go lease, depreciation and tech advancements will be insane. And you can get the entire EV tax credit via leasing - any car qualifies, but not always via buying.
So to summarize, find some marketplace broker numbers for the following vehicles, see if you can replicate locally, if not then just pay a broker, well worth it:
- Nissan Ariya AWD (Awesome car for the price!)
- Ford Mustang Mach E
- Mercedes EQE SUV
- Volkswagen ID.4
I don’t recommend polestar personally, the space is much smaller than the vehicles I’ve listed here. I’ve test driven almost every single EV SUV.
Are you saying there are no qualifications on the $7500 credit for leases!?!? Like no income affidavit or whatever?
none for the lease
There’s no reason for an income affidavit, as there is no income requirement. Just as there is no country of origin, battery sourcing, msrp cap, etc requirements like there are on purchase.
The lessor gets a tax credit when they purchase the vehicle and they either pass on an equivalent amount incentive or they don’t. They have no obligation to do so, but most banks do.
Yes, it’s important to remember that not every brand will give you the $7.5k. I think Tesla didn’t used to, but then changed it so they did give the $7.5k, but took away the full amount again for the Model 3 recently. Not 100% on that but I think my list is the best SUV EV leases atm.
Volvo also has good programs within your price range, you get get both a good option’d XC60 and XC90 within your bracket.
With tesla, since you have no buyout option, they can basically move things around on paper all they want and it is all just smoke and mirrors.
Correct. On the lease there are no qualifications. I don’t qualify for the purchase credit, so between that and my thinking that EVs will be in a very different place 2 to 3 years from now, I’m leasing an IONIQ 5, pickup in a week.
I picked up a Chrysler Pacifica PHEV Limited and a Mazda CX-90 PHEV Premium Plus. I live in NY and get to pay NY tax on the leases. As I understand it there is no tax on EVs in NJ. I am at $520/mo all in on each. Yours will be cheaper if I am correct about taxes. I love both cars. But the minivan is significantly bigger on the inside, has more battery range, and drives more like a car.
Good luck!
Nissan Ariya all day.
Definitely a Nissan Ariya for $300 a month with little down
Not OP but I can get an Ioniq 5 for mid 200s with 3000 DAS
What do you think vs Ariya?
at least the Ariya has a rear wiper. That is important for the digital mirror
True. The 2025 model should have the rear wiper and other updates compared to the 2024 model.
What trim? An SE or SEL RWD? And what terms? 24/12k miles?
I personally liked the Ariya as a vehicle a lot more. I initially disregarded it when car shopping, but test drives really sold me. I ended up with MB after all but would easily choose Ariya if I had to reduce my budget.
Ioniq 5 has a lot of features but honestly didn’t feel as good on the road. A lot of the features seemed a bit gimmicky.
Go test drive both and see which you like best!
Oh and make sure to compare both vehicles for the same trim. I’m comparing Ariya Platinum to Ioniq Limited, the top trims.
SEL AWD 24/12