Who here as made the leap to an EV?

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Commodus

Diamond Member
Oct 9, 2004
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Just remember, the biggest financial depressant for Americans are people stupidly spending $$$$ on brand new cars every few years.

It's easier to justify for an EV, since the tech is new and a fresh battery is a selling point. But I'd still recommend leasing for many people until you either see cheaper new EVs (like the $30K Equinox) or a better case for used models.
 
Dec 10, 2005
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Just remember, the biggest financial depressant for Americans are people stupidly spending $$$$ on brand new cars every few years.
Just remember, if people aren't buying new cars, there is no turnover to used cars, which is why those prices are through the roof. Cars, used or otherwise, also are a substantial burden on people's budgets through their upkeep costs (insurance, maintenance, fuel, parking, registration). Though, Americans would be better off financially and environmentally if more of us could live in more walkable neighborhoods and be able to live with maybe one car per household or less.
 
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Red Squirrel

No Lifer
May 24, 2003
67,201
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Yeah even used cars are getting crazy expensive now. Things are really not looking good as far as affordability goes. I have a feeling it's going to get to a point where only rich people will be able to own cars. Which is a big issue for quality of life since even if you live in a walkable neigbourhood surely you want to actually be able to go buy stuff in places that are further, or go camping or on trips etc. Not all cities have good transit either, and even those that do, there may be places you want to go that are simply not serviced, like bush roads etc. Not everyone wants to live in a metropolis.
 

Captante

Lifer
Oct 20, 2003
30,246
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Yeah even used cars are getting crazy expensive now. Things are really not looking good as far as affordability goes. I have a feeling it's going to get to a point where only rich people will be able to own cars. Which is a big issue for quality of life since even if you live in a walkable neigbourhood surely you want to actually be able to go buy stuff in places that are further, or go camping or on trips etc. Not all cities have good transit either, and even those that do, there may be places you want to go that are simply not serviced, like bush roads etc. Not everyone wants to live in a metropolis.


Carvana just offered me $5500 for my slightly dinged up 2012 Honda Fit with 123k.

:oops:

I only paid about $7500 for it in 2018 with 77k in very good condition. I have to say its tempting BUT then I would have to get robbed replacing it. (plus the damn thing has been bullet-proof reliable and gets just under 40 mpg)
 
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nakedfrog

No Lifer
Apr 3, 2001
58,055
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Just remember, the biggest financial depressant for Americans are people stupidly spending $$$$ on brand new cars every few years.
And the poorer ones will do the same, with a newer used car every few years. Some people are just resigned to always having a car payment for some reason.
 

ViviTheMage

Lifer
Dec 12, 2002
36,190
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In most markets it is cheaper to buy new then it is to buy used. I sold my Tesla Model 3 for 5k more then I bought it for after owning it for around 3 years. All I did was swap tires, zero maintenance after about 35k miles.

I have an order in for a Model Y as of 3 price increases ago (6k in increases I think), so I feel good about that already too, haha.
 
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Viper GTS

Lifer
Oct 13, 1999
38,107
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In most markets it is cheaper to buy new then it is to buy used. I sold my Tesla Model 3 for 5k more then I bought it for after owning it for around 3 years. All I did was swap tires, zero maintenance after about 35k miles.

I have an order in for a Model Y as of 3 price increases ago (6k in increases I think), so I feel good about that already too, haha.

My 3 sold for more than I paid for it as well. Even counting a full wrap and two sets of wheels/tires my TCO was incredibly low for 2.5 years of ownership on a new car. My three month old Y is likely worth $10k or more in resale profit right now, not that I plan to sell it.

What people don’t fundamentally seem to understand about EVs is there is no inherent limit to their usefulness. With so much software defined a used one is basically as good as a new one, with only minor differences that only car geeks would care about. An old 3 vs a new one is basically a heat pump and power lift gate. And $10k in MSRP. Electronically commutated motors will run basically forever. As long as they aren’t crashed the drivetrains will outlast the bodies, and still have valuable components when the bodies are retired.

We don’t know yet what the long term situation looks like, but for the next few years anyone who wants to run through a chain of new EVs for near zero TCO likely can.

For anyone who still believes that buying new cars will lead to financial destruction - Please, don’t buy any. It will make it far easier for me to get them.

Viper GTS
 

Red Squirrel

No Lifer
May 24, 2003
67,201
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Buying new used to be a bad idea but it seems now days the market is completely different. Given used cars are way more expensive now it almost does make sense to just pay more to get new. Get it undercoated literally the day you drive it off the lot, and get it done every year, and hopefully you can get it to last a few decades at least. When buying used there's already rust so it's a never ending battle to try to do anything but if it's new and you prevent it in first place you can hopefully make it last.

Probably going to drive my truck to the ground, but when it comes time to replace it I might just bite the bullet and buy new, and it will most likely be an EV. By then the prices are probably going to be over 100k though. Heck some of the EV trucks are already pushing that, like the Rivian and the higher end model F150 are all around there. Just seems crazy to pay that kind of money on something that is not real estate and depreciates not only financially but physically too. Even with undercoating etc the rust will get you eventually.
 

Exterous

Super Moderator
Jun 20, 2006
20,348
3,426
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Since we're talking life of EVs which is mostly battery related I figured I would share my anecdotal info of my almost 11 year old hybrid info. I know it's not the same but if anything mine has more that can go wrong than an EV. I live in Michigan so we get 100 degree days in the summer and pretty cold winters. Car is garaged all winter but frequently sits outside all summer due to garage based projects. Total loss off MPG efficiency is....0.8 MPG since I got it 8 years ago (36.4 instead of 37.2). Reporting info is limited but appears to be ~85-93% battery life. If I felt I needed a new battery it would be $2k for a good brand referb with new cells or $4500 for a new pack.
 
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ViviTheMage

Lifer
Dec 12, 2002
36,190
85
91
madgenius.com
My 3 sold for more than I paid for it as well. Even counting a full wrap and two sets of wheels/tires my TCO was incredibly low for 2.5 years of ownership on a new car. My three month old Y is likely worth $10k or more in resale profit right now, not that I plan to sell it.

What people don’t fundamentally seem to understand about EVs is there is no inherent limit to their usefulness. With so much software defined a used one is basically as good as a new one, with only minor differences that only car geeks would care about. An old 3 vs a new one is basically a heat pump and power lift gate. And $10k in MSRP. Electronically commutated motors will run basically forever. As long as they aren’t crashed the drivetrains will outlast the bodies, and still have valuable components when the bodies are retired.

We don’t know yet what the long term situation looks like, but for the next few years anyone who wants to run through a chain of new EVs for near zero TCO likely can.

For anyone who still believes that buying new cars will lead to financial destruction - Please, don’t buy any. It will make it far easier for me to get them.

Viper GTS

You aren't wrong. And sometimes they can retrofit newer and more efficient stuff too. The new AMD is a bit snappier as well I hear. A heatpump would be nice if you were in a colder climate for sure. And even the older Model S's could get the newer MCU's retro'd for like 2k-3k which is an awesome trend I hope they continue.

I had EAP, I do not think its worth 6k though.

I am cautiously optimistic if an EV is an investment. You look at other EV's and they do not hold their value, even now, like Tesla's currently do. So I do not think they will hold their value like this forever.