Should I Get My EV Now or Wait?

Recently, with lease deals on EVs running at around $79/month (with a few thousand dollars down), I’ve been thinking about picking up one to use when I’m not testing other cars. After my three-month loan of a sweet little Fiat 500e earlier this year, I want to drive electric today, both because  it’s the right thing to do for the environment, but also to practice what I preach. Advocating for a move to carbon-free transportation is fine, but sometimes you have to walk the walk, too.

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I believe that the upcoming Chevrolet Bolt, with its 200-mile range, vast dealer network, and attractive purpose-built EV design, will be a game changer for the non-wealthy like me. But I suspect that there will be no deals on Bolts, at least a first. There’s plenty of pent-up demand and they’ll have the only game in town–for a while, at least.

So, I’m focusing on the Volkswagen e-Golf again, as well as the Fiat 500e and maybe the Kia Soul EV.

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The process of elimination removed Tesla from consideration right off the top. It’s way out of my price range, and there are no cheap deals to be had anyway. Others cut from the list include the Ford Focus. It’s a regular car that’s been electrified, and has only a 76-mile range. There’s the worthy and pioneering Nissan Leaf, which was built as an EV from scratch, but is looking long in the tooth with minimal changes since its 2011 debut. The availability of a bigger battery with 107 miles of range in the 2016 model is a small consolation. The Chevrolet Spark EV is cute and has great torque, but it’s kind of tiny. The Mercedes-Benz B250e and BMW i3 are appealing, in different ways, but are not as affordable as the three vehicles I mentioned at the top of this paragraph, if low price of admission is the goal.

In any case, is it time to grab something now or to wait? I’m struggling with impatience but also with the knowledge that as with all things technological, the next improvement is right around the corner. You know that when you take home that new laptop, next week there’ll be one with a better screen or more memory or some amazing new feature.

Here’s what you get if you wait. The new Focus is going to jump to 107 miles of range with the ’17s. The all-new Hyundai Ioniq is arriving this fall with 110 miles of range. The Bolt looms ahead appealingly. The Kia Niro will offer a hybrid in a crossover shape–and perhaps a pure EV someday. What will the next Leaf be able to do? We’re on the edge of a whole new generation of attractive options.

To top it off, as I entertain a deal on the ’16 e-Golf with its 83-mile range, I just read that the ’17 is supposed to get about 125 miles of range with a new, larger battery. So, suddenly waiting a few months seems like a great idea, as long as I don’t need the car right now.

The only down side is that the cheap lease deals may dry up once the next gen cars are out. Who really believes that a $79/month lease is realistic in 2016, anyway? It’s just a way to sweeten the deal on a car that retails in the $30,000-plus vicinity and has limited range. The  companies are willing to move them out at a loss or minimal profit just to comply with regulations and maybe pick up some green cred for doing so.

Perhaps, if you’re really eager, you could take advantage of a deal now on the shortest lease term you can get (24 months?), and save up for the big transition two years from now, when you may be able to snag a Tesla Model 3 that someone ordered on spec or that fell through the cracks. Or, grab a second- or third-year Bolt with the all the bugs fixed. And the new Leaf will be out by then.

As an EV cheerleader, and soon-to-be participant, that may be the best way to get in now at minimal outlay and plan for a long, enjoyable electric car future.

But I remain perplexed. It does feel like sooner is better for the earth, but I want to have the best car for me, too.

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2 thoughts on “Should I Get My EV Now or Wait?

  1. Steve – I got the i3 on a lease for exactly the reasons you mentioned. When the lease is up I hope there are more options on the market. I think the BMW is overpriced but with incentives the lease was pretty affordable. Overall – very happy with the car. Got the range extender (to reduce anxiety) but have only had to use it once in 8 months.

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