Lease vs. Buy for an EV

[Anonymous]

DH and I are looking at getting a Polestar. I am going back and forth between buying and leasing. We have never leased before and the car we are replacing is a 98 corolla so it has been a LONG TIME. I would not normally ever think to lease, but DH really wants an small EV truck. There is nothing on the market right now that fits that description, but there could be in a few years. So just unsure if it makes sense to buy when we could be getting a new car in 5 years. I am so used to keeping cars forever. Obviously, I know that we could sell the polestar in 5 years if we find a small truck DH likes. But also know that theoretically tech could change and batteries could be a lot better in 5 years, so not sure if it would be worth much if the tech really takes off.

We would have to finance the polestar, but would can put a decent amount down do I think the monthly payment would be the same if we lease or finance, we just obviously would have to put less down. 5K vs. 20K. I know if we purchase I will be getting 7500 back, so I guess it is really 5K vs 12500.

Anyway, any thoughts?

[Anonymous]

For 5 years no point in leasing. Buy.

[Anonymous]

I would lease only because of the technology issue.

[Anonymous]

I’m planning to lease them because the technology is new.

[Anonymous]

Anonymous wrote:For 5 years no point in leasing. Buy.

I think if we leased, we would do 3 years. But I am not overly optimistic that the market will change that much in 3 years. I think covid really delayed things and I am not entirely sure things won't continue like that for a while (I feel like we are still getting cars delayed time and time again and others have 8 month (to 3 year) wait lists. So figured 5 years would be more optimistic for a real influx of new EVs