EVs cost less to drive, but does it make sense to switch now?
The vast majority of them asking “which car should I buy?”
is about gas and hybrid.
Hyundai
Hyundai
Then gas prices spiked.
Then they spiked again.
Yesterday, I paid over $6 a gallon for gas.
So its no wonder that multiple times a day Im asked, which EV should I buy?
So here are some tips that might help you navigate this madness.
What Youre Driving Now
Im not here to judge your past purchases and current vehicles.
Thats for your bank account to sort out.
you should probably do some calculations.
First, how many miles do you drive a day?
Thats when gas was $5 a gallon.
Again, I paid over $6 for gas yesterday.
Second, EVs are still expensive.
But even if the economics make sense, its not going to be easy to make the switch.
But thats not how things work right now.
Supply chain issues have severely diminished vehicle production, and on the dealer side, the available inventory.
Ive personally seen a $30,000 car with a markup of $15,000.
Thats $45,000 for a $30,000 vehicle.
Its the supply and demand.
There’s very little supply and the demand is very high.
Right now, thats the situation with EVs.
Ordering an EV from an automaker isnt any better.
To start, buy from available inventory.
If youre a patient person, cool.
If not, and your current vehicle is burning through your savings, look at the available stock.
You should also check out EVs that have been around for a while.
Talk to friends about where they bought their vehicles and see what the experience was like.
While some of these price increases seem borderline criminal, dealerships need to make money, too.
Its the gouging thats the problem.
My time is valuable, and so is yours.
By the way, dont forget to check out plug-in hybrids, too.
They typically have an EV range of 20 miles or more before the gas engine kicks in.
Its the best of both worlds.
you could either buy or do what I did and lease.
Just find a place thats worthy of your business.
At any other time, the switch to EVs would likely be pretty painless.
If you’re free to hold off for a year, do it.
