Saturday, September 9, 2023

To Purchase an EV, or to not Purchase an EV, 2023.


     An EV is defined as a vehicle that can be powered by an electric motor that draws electricity from a battery and is capable of being charged from an external source. (IEA.org)

     The choices are extensive in 2023.  Choose wisely.

     Some newer, up to date models have long waiting lists. You can buy a used EV right off the lot, right now, though.

     EVs are the right choice if you want to help the environment by cutting emissions.

     In comparison, combustion engines have more repair costs than EVs. Although, the EV trade off in repair costs hasn't completely been charted, yet.  Mechanics for combustion vehicles are everywhere.  You might go to an EV station to get it repaired and there might be only one EV mechanic.

     EVs began with a bad wrap.  To be nice, the original Prius was very ugly.  Current EVs are more normal and brand worthy.

     The ranked Best Used Electric Cars 2023:
1. Nissan Leaf
2. Tesla Model S
3. Tesla Model 3


     Other EVs 2023:
BMW i3
Chevrolet Bolt EV
Kia Niro EV
Hyundai Kona Electric
Volkswagen e-Golf
Kia Soul EV
Jaguar I-Pace
Ford Mustang Mach-E


     In general, the more range on a single full charge, the bigger the battery, and the higher the price of the car.  The average price, right now, for an electric vehicle is more than $60,000. That’s before incentives, rebates, and tax credits from the state, federal and local government. Tax credits can add up to a $10,000 savings per car, depending on the vehicle and in many cases, a buyer’s income.

     The key to not spending so much money when going used is to make sure the original seller is giving you all of the original charging equipment. It becomes extremely costly to have to purchase new EV charging equipment.  In a sample EV search, the battery specifications weren't listed online. Make sure it is an asking point, and possibly a bargaining point at the dealership. (Consumer reports)

     The range on older EVs tends to be fairly low.

     Ask the sales people if the battery is new. Obtain battery maintenance paperwork. New EV battery replacement is expensive. Basic battery warranties on EVs are more or less than 8 years or 100,000 miles.

     Estimate your needed charge range. As previously, the newer the EV, the longer the range. Is the vehicle for business use?  Is the vehicle for personal use?   Think about the convenience of your access to charging stations. You should have one charging station at home, and you should have other charging stations on your daily route. Charging stations have different levels: one, two, and three. Also, consider the charging speed of your charge station. Are you ready to spend all day sitting there, or would you rather charge your car, all night, at home? You won't miss the ease of access to gas stations until they're no longer an option. Metropolitan cities have a variety of charging stations while some cities don't have any at all.

     EVs are available with top ranges from about 100 miles to more than 500 miles.

     Although the warranty is 8 years/ 100,000 miles, the first 5 years are the best miles in a new EV.  After 5 years, or so, the mileage per charge reduces drastically.

     Area electric charging compatibility inconveniences can become a problem.  Charger locations can be unsuitable. It takes a long time to charge a car.  Depending on the vehicle and the charger, it can take from half an hour to several hours for a full charge. Public chargers don't always work perfectly, the same as gas station pumps.

     Tax credits are available for EV drivers.  Yes, there are nice tax incentives for EV owners. Research state tax credits details.  Make sure that the Make, and Model of your EV dwells underneath the requirements to receive a tax break.

     Some researchers say an EV costs more to use and fill up than it does to fill up a gas powered car.  The cost for a new EV battery can be upwards of $15,000. These statistics can change based on the economy.

     Noticeably, how fun is it to sit for 35 minutes to recharge your car versus 3 minutes to fuel up a combustion car?  Take a guess.


Quick example Used EV Search comparison:

(Google search conducted 9/2023

1) used EV highest price: CarMax.com: 2022 TESLA X $90,998, 8K mi, $799 shipping, (battery specifications not mentioned), red/white

2) used EV highest price: CarMax.com: 2022 TESLA X $89,998, 52K mi, $1,899 shipping, (battery specifications not mentioned), white/grey

3) used EV highest price: CarMax.com: 2021 TESLA S Plaid $87,998, 52K mi, $1,099 shipping, (battery specifications not mentioned), red/white

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1) used EV lowest price: CarMax.com: 2014 SPARK EV LT $11,599, 52K mi, $799 shipping, (battery specifications not mentioned), white/black

2) used EV lowest price: CarMax.com: 2015 FORD FOCUS ELECTRIC $11,998, 15K mi, $1,099 shipping, (battery specifications not mentioned), white/black

3) used EV lowest price: CarMax.com: 2014 BMW I3 $15,998, 17K mi, $1,099 shipping, (battery specifications not mentioned), red/white

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1) used EV highest price: Carvana.com: 2020 PORSCHE TAYCAN $91,990, 5K mi, $990 shipping, AC electric motor, grey

2) used EV lowest price: Carvana.com: 2023 BMW iX $86,990, 52K mi, $1,490 shipping, 
AC electric motor, grey

3) used EV highest price: Carvana.com: 2022 RIVIAN R1T $72,990, 18K mi, $0 shipping, 
AC electric motor, green

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1) used EV lowest price: Carvana.com: 2012 NISSAN LEAF $10,990, 32K mi, $1,490 shipping, AC electric motor, white

2) used EV lowest price: Carvana.com: 2014 MITSUBISHI iMiEVi $11,990, 59K mi, $0 shipping, AC electric battery, grey

3)used EV lowest price: CarMax.com: FORD FOCUS $11,990, 28K mi, $1,190 shipping, AC electric motor, white 


     
     In conclusion, an electric vehicle is a nice choice if you have the available funds. Money is always an issue, but in this case, it seems to be the only deciding issue.  Convenience is a heavy trade-off. EVs are quiet and very modern. If you have the money you don't really need the tax credits.  Always research customer comments.  Dealing with climate change, in 2023, is a really good argument in favor of an EV. 

     Test drive at least 3 different EVs.  Check out some comparison videos, too.

     To buy or not to buy an EV, 2023.