The pure electric car for the common man

[a1fa]

I will be shopping for a new (or used) car to compliment my old toys - the 93 F-250 7.3 NA IDI, and the 81 VW Vanagon. I have been eyeballing electric car because they fit my need the best -- short trips to work and back, groceries and around town errands; and someone has to embrace the technology and buy into it, otherwise, they will go away.

Let's get couple of thing out first and let's not bring them up again. Crunching the math, it absolutely makes no economical sense or benefit in buying an a electric car. The cheapest I could drive an a electric vehicle is about $0.25/mile, not including insurance, registration, maintenance, and electricity. This is also on a 3 year lease. Buying one of these things would bring that number to $0.63/mile. You could bring this number down by either putting a lot of miles onto the vehicle, and selling it at fair market value when you get done with it after 5 years.

The second issue is battery life, long term maintenance, and waste. If I am looking into leasing this vehicle, it won't be my problem -- it will be someone else problem after 3 years... still... it's still a problem. I'm not buying this vehicle to offset the environment or save on gas, but I also don't want to create a new problem either.

Technology will be obsolete soon. Leasing makes more sense.

Distance, not an issue. If I have to take a longer trip I have a truck, van, or Enterprise; you rent they pick you up,

Capacity. See above.

Charging will not be an issue. I will get 220V charger at the house, and one will be provided by to me at work with my own designated EV parking.

But why even buy an electric car you ask? Someone has to do it, and help manufacturers bring alternatives to the market. The car just makes sense for what I will be using it, and might as well get on the band waggon.

Here is the kicker. I am looking at Nissan Leaf 36 month lease, at $199/month + $1000 deposit. I am not sure how these leases work, and if I would have to give them more money at the end. I calculated it would cost me $0.25/mile without charging, maintenance, insurance, registration and etc. In a sense, this would allow me to demo the technology for 3 years, and not feel stuck with something that may or may not go obsolete. Another thing I factored in is the fact that a new car would depreciate about the same amount it would cost to lease the Leaf. It's status quo. The total pay in ammount, not including charging, maintenance, and etc is $8164 for 3 years.

If the technology proves to be the way of the future, I would not be hesitant to lease the newer generation Nissan Leaf after 3 years.

What do you think guys? Help me with this lease math, and explain me the way of things.

[Kubla]

if it works for you, buy it (or lease it) sounds like a much better deal than the VW touareg I just leased

the leaf would have been perfect for me, I live 7 miles from work but there was the whole "fitting in the car" part which the leaf failed at for me

[Roland44]

Originally Posted by a1fa

Let's get couple of thing out first and let's not bring them up again. Crunching the math, it absolutely makes no economical sense or benefit in buying an a electric car. The cheapest I could drive an a electric vehicle is about $0.25/mile, not including insurance, registration, maintenance, and electricity. This is also on a 3 year lease. Buying one of these things would bring that number to $0.63/mile. You could bring this number down by either putting a lot of miles onto the vehicle, and selling it at fair market value when you get done with it after 5 years

Can you please let me know how you come up with those numbers? I am interested in buying an electric car as well but I am not really sure if it's worth it...

[chazbird]

Honda Fit now has an all EV version which can be leased - in fact, that may be the only way to get one. This may give you some comparison or perhaps (I have no idea) get your per mile costs lower. It may be, at least initially, only available in certain markets.

[a1fa]

Originally Posted by Roland44

Can you please let me know how you come up with those numbers? I am interested in buying an electric car as well but I am not really sure if it's worth it...

The price of lease divided by miles you drive. In this case $199*36 months+$1000 non-refundable down payment divided by 36k miles. Nissan is also charging $0.25/per mile if you go over 36k