Before heading out to a dealership to get an electric car, you should first decide why you want an electric car.
There are usually 2 factors that people consider:
1: “I want to save the environment”
2: “I want to save money”
for me, it was #2, and #1 is just a nice bonus on top. Starting a 40-50 mile daily round trip commute, my big Premium unleaded Gas SUV, was not gonna help my wallet. I wanted to be economical, to spend as little as possible on transportation. My SUV was $500/month + about 300 in gas (with my new commute) = $800 a month.. That’s just too much. So I started researching electric, hybrids, or really cheap cars with high MPGS (like a Honda Civic).
However, nothing was as affordable as the electric car.
My total monthly payments on the Fiat is ~$150 (including taxes) with Zero down (due to the rebates)
Even on a free gas car, I would be spending $200-250 on gas + maintenance)
So, should everyone go electric?
If you’re good at
- counting miles
- planning
- have a really scheduled commute where you know you’ll be going to and from under 80 miles a day
- have access to an outlet or charger
- have a paid off or really cheap gas car as a backup
then Yes its a good option
So, Should you buy or lease?
Lease!
Electric is still in its infancy and technology is always upgrading. In a few years, the cars today will be ancient. Lease because there are a lot of great rebates from the Federal ($7500), State ($2500), and City (check your local area) I’ve seen some at ($2000). The rebates make having an electric car very affordable, so if you can manage it in your lifestyle its a great decision.
My Fiat 500e 