First Car - New Driver - EV Lease vs Finance

[Anonymous]

Why would you need to upgrade a car just because a technology changed? And if you need to think about negotiating a price, buying vs financing, you have no business buying/leasing a car every 3-5 years just because tech changed.
This is for PP. What you are really trying to say is that the car is for your heart/extreme want, heck with the math. If so, go lease a Tesla and get rid of it when you get bored and go lease another one.
Needing to save money as you piss it away; I don't get it.

[Anonymous]

I saw that Hyundai has some very good lease deals on 2-3 years leases for their EVs. For eg. 157/month with ~4000 down for Ioniq 5.

[Anonymous]

Anonymous wrote:Why would you need to upgrade a car just because a technology changed? And if you need to think about negotiating a price, buying vs financing, you have no business buying/leasing a car every 3-5 years just because tech changed.
This is for PP. What you are really trying to say is that the car is for your heart/extreme want, heck with the math. If so, go lease a Tesla and get rid of it when you get bored and go lease another one.
Needing to save money as you piss it away; I don't get it.

Because those rapid technology changes mean EVs depreciate much more quickly. Even places like Consumer Reports—which is generally anti-lease—say that leasing EVs can be a smarter approach.

[Anonymous]

Anonymous wrote:Hey everyone, so just getting my license (I am 31 but immigrant so don't have a US license and tbh haven't driven in years until now, driving where I am from is also significantly different than here).

Planning on getting an SUV (future proof for kids purposes) but am debating vs lease or finance.

Predominantly looking at EV SUVs, but as the tax incentive in 2024 is restrictive for purchase but not lease, as in lease all EVs seem eligible for the credit (and battery technology evolves over time), thinking of leasing an EV. Thinking given above in this scenario leasing may make more sense. Anyone have an input in this?

The cars I am considering are as follows: Ford Mach E, VW ID.4, Hyundai Ioniq5, Kia Ev6 (a little concerned with the Hyundai/Kia option due to all the thefts lately, sure these new ones have the immobilizer by the idiots trying to steal don't know that).

Thank you foe your input

The Ioniq 5 leases are really good right now. Last week Hyundai had them for $209 and $4 down(which included the first months payment) for 33 or 36 month. That’s like $11k for 36 months!
If you want a more car look at the Hyundai Genesis line up(built in Alabama so should q for $7,500 rebate). Maybe to buy these seem to hold their value with 2023 going in the low 40’s.

[Anonymous]

Anonymous wrote:Why would you need to upgrade a car just because a technology changed? And if you need to think about negotiating a price, buying vs financing, you have no business buying/leasing a car every 3-5 years just because tech changed.
This is for PP. What you are really trying to say is that the car is for your heart/extreme want, heck with the math. If so, go lease a Tesla and get rid of it when you get bored and go lease another one.
Needing to save money as you piss it away; I don't get it.

So what is happening is the EV market is changing fast because of some big leaps in technology- batteries 40% cost reduction in this year and projected 50% next year with a doubling of the energy density. This means significant reduce in weight and more range. You can see this now with the top end cars for 2025. The 2025 Lucid Air will have a charge range of 405 to 512 miles per charge depending on the model. It is pricey at the low end at $71k but you get a real 420 mile range and a 0-60 time of 3.0 seconds. The single motor version has 430 horse power and the dual has 620. That is actually too much car for most drivers.

According to insiders this range will be pushed down to the non luxury models by 2026 and 2027. They are project 400-450 mile charge range in a car costing from the mid $30’s - mid 50’s. This will impact the used ev car market.

The other thing is Tesla does not have the design, experience and manufacturing expertise when compared to the big car manufacturers. Tesla was the trailblazer but they are getting passed up. The big manufacturers know how to make a car. Toyota has a work model solid state battery that charges in 10 minutes and gets 700 plus miles.