Reply to Getting an EV - buy new, buy used or lease?

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[quote=Anonymous][quote=Anonymous]Talk to me about the pros and cons. Our last car we bought new for cash and have driven for 15 years. I feel that there is so much unknown still about longevity with EVs that it may make more sense to lease for a couple of years than invest $40k in a car.

What did you do? Or what would you recommend? We’re planning on an EV, not a PHEV or other hybrid.[/quote]

The issue is not longevity but technology change. The manufacturers are starting to warranty EVs for 12 years to help resale value. The issue is the battery technology and mass manufacturing have driven the battery price down while increasing range. There are working prototypes that are getting 600-700 miles per charge with 10 minute charge.

So for an EV it makes sense to lease because the current models will not be competitive with the new EV models coming out in a year or two. The battery prices are really falling - 40% this year and projecting another 50% by next year with 15% reduction after that till 2030. [/quote]

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