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Power The Almighty Buck Transportation United States

Why Most Electric Cars Are Leased, Not Owned ( 206

Bloomberg's research shows that drivers in the U.S. lease almost 80 percent of battery-powered vehicles and 55 percent of plug-in hybrids. "The lease rate for the country's entire fleet hovers around 30 percent," reports Bloomberg, noting that Tesla does not divulge how many of its vehicles are leased since it sells its cars directly rather than through dealerships. From the report: The lopsided consumer preference for leases is fueled by the meager demand for battery-powered vehicles on the used market. Partly this is a consequence of public policy meant to spur electric vehicle adoptions: buyers of pre-owned cars can't grab thousands of dollars in federal and state incentives. The high lease rate is also fueled by the bet [many] are making that upcoming models will far exceed today's in value and capabilities. Perhaps electric vehicles will truly arrive when they are no longer compared to smartphones, which become obsolete after three years.
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Why Most Electric Cars Are Leased, Not Owned

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  • Yeh no shit (Score:5, Informative)

    by beelsebob ( 529313 ) on Wednesday January 03, 2018 @07:43PM (#55859153)

    No shit. I lease my eGolf. Why - I leased it 2 years ago, and could get an 80 mile range car. Today for the same price I could get a 240 mile range car from Chevrolet, or a slightly nicer 120 mile range car from VW. I'm sure in a further 3-4 years I'll be able to get a 400 mile range car for the same price again.

    It'd be completely crazy to bind yourself into a technology that's advancing so quickly at the moment.

    • Re:Yeh no shit (Score:5, Informative)

      by ginoledesma ( 161722 ) on Wednesday January 03, 2018 @08:02PM (#55859225)

      I agree. The improvements in battery tech from one generation to another is significant, in that it can be lifestyle-changing. Range anxiety can be a real and frustrating issue to deal with.

      I helped a friend go a different approach for an EV-as-a-commuter/second car option: Buy used, and the price drop from a lot of off-lease vehicles can be significant (e.g. Fiat 500e, Nissan Leaf, Chevrolet Volt, Mitsubishi i-Miev, BMW i3, etc).

      Some back-of-the-napkin math using a Nissan Leaf as an example:

      • 2017 lease: $229/month for 36 months + $2,000 at signing = $10,244 + taxes + etc
      • 2014 off-lease purchase with ~32K miles: $8,500-$11,000 using Kelly Blue Book / Private Party valuation

      Some areas even give additional incentives, even to pre-owned buyers (e.g. $500 PG&E Clean Fuel Rebate []), and older EVs may still have the Clean Air Vehicle (CAV) sticker that may eventually phase out in January 2019 in California.

      If you're patient and do your research, you might find a very good deal that may work to your advantage. My friend ended up getting a 2013 Fiat 500e with 27,000 miles for $6400 after taxes and rebates. Decent commuter vehicle, and the owner gets to enjoy company-provided charge stations (so effectively "free miles" while employed).

      • Re:Yeh no shit (Score:4, Insightful)

        by Anonymous Coward on Wednesday January 03, 2018 @09:00PM (#55859525)

        A conventional automobile, properly maintained, can last for a very long time and repairs can be performed incrementally. Any component that fails can be replaced with a used part from a junk yard if you want to save money, so used vehicles are still quite valuable,

        Electric vehicles have a very expensive component -- the battery pack -- that cannot be repaired. Once it reaches end of life it must be replaced, you have no choice. This makes used electric vehicles much less attractive because they have a very expensive, unavoidable cost lurking in the future. Ultimately it affects the sale of new vehicles as well -- most people don't want to buy a car that nobody will want when they need to trade it in for a new one.

        Maybe someday this problem with be solved, but it's still a very long way off.

        • Re: (Score:2, Interesting)

          by Anonymous Coward
          I'm pushing 300k miles on my car. In the last thirty years I've replaced 2 radiators @~$200, 1 starter @~$150 and 1 transmission ~$1000, 6 pair of tires @$400/set=$2400 and roughly 50 oil chanes @$20=$1000. Still running strong.

          I paid $11,000 for it new+ ~$5000 maintenance = 300kmiles/$17,000= $0.0566/mile. 30mpg = ~10,000 gallons of gas =~$20,000. So in total I've paid about $36,000 for 300,000miles or about 12cents/mile averaged over 30years ballpark for everything except insurance.


          If there is sufficient market, there will be a secondary market solution. Simple really.

        • by stooo ( 2202012 )

          >>This makes used electric vehicles much less attractive because they have a very expensive, unavoidable cost lurking in the future
          Nah, that's not the case any more.
          On today's vehicles with big range, the battery outlasts the car on a factor 3x.
          The question is not any more, "what will I do with the car once the Batttery is dead?", but rather "what will I do with the battery once the car around it is worn out ?"

    • Actually, the plug-in hybrids aren't likely to age out so fast. I had to replace my old Forrester. I got a Prius Prime, which gets > 25 miles on electric, handling most of my commuting. It then gets over 50 mpg on gas, making it well suited to long range driving - I will do well over 1000 miles a day when on the road. I bought it, not leased it. I figure in another 4 years I will replace my wife's Corolla with an all electric self-driving vehicle, as she is directionally challenged.
      • I will do well over 1000 miles a day when on the road.

        You average well over 41 MPH every hour for 24 hours per day? What, do you only drive the interstates in empty places like Nebraska, or the Autobahn in Germany?

        Another factor that would drive leasing over buying is the cost of replacing the batteries when they lose capacity. Nobody wants to be stuck for the cost of new batteries in a few years. This, too, is why the resale value would be low.

        It's interesting that there is a question about Tesla's lease rate when they sell their cars directly. I'd guess "0

        • by swb ( 14022 )

          I'd bet there are ways to convert a Tesla sale into a lease on paper for those people or businesses that need to lease it for tax purposes. Tesla might even offer this themselves, with the lease held by some third party leasing company.

    • by vanyel ( 28049 )

      Exactly; my second Leaf lease is about to end. I made the mistake of buying my first Leaf after the lease ran out because it looked like the tech wasn't advancing as fast as I'd expected, then the battery wore out enough to make regional driving problematic, but not enough to trigger a replacement. So I replaced the battery with a bigger one (24kWh -> 30kWh), which happened to come with a new Leaf ;-) Unfortunately, Nissan doesn't believe in active cooling, making the 30kWh battery actually *worse* fo

    • by rfengr ( 910026 )
      I’m glad people fleece their cars. That way I can buy a 2 year used one at a steep discount. Bought a 2015 Leaf for $8k at 19k mikes.
      • Sure - sounds great. But it's not me losing out here. It's the dealer. The dealers are offering end of lease residuals in the region of $12-15k for 30k miles. If they want to take a $4-7k loss on every vehicle they have to hand on, that's fine by me.

        For me, my eGolf lease cost ~$15000 total across 3 years... Minus $7500 of federal tax credits... Minus $2500 of california rebate. So grand total, $5000 for 3 years of owning a vehicle from brand new, with 0 fuel costs (since charging is paid for by my emp

        • by rtb61 ( 674572 )

          It is you losing at the tax office. Why leasing, well, corporations do it a lot, whole lot and auto manufacturer lobby like crazy and so do auto dealers, just look at the attacks on Tesla. Why lease, because the tax advantages are wildly over the top and hence it is a major tax dodge especially employee vehicles, counts as a tax free wage with major tax deductions for the employer.

    • by AmiMoJo ( 196126 )

      Not sure about the used market being dead though. Maybe depreciation is bad, but those cars are attractive to people who want a commuter car and to businesses like taxi firms.

      My old Leaf is a taxi now.

    • by Ranbot ( 2648297 )

      Cool man... keep it up. A steady supply of cheap used cars is good for other people, like me, who bought a used Nissan Leaf a couple years ago at a massive discount. My Leaf runs great and meets my needs, needs that aren't changing just because a new EV with longer range comes out.

    • What about overall cost though? You're perpetually making a monthly payment with no end.

  • Obvious flaw (Score:4, Insightful)

    by meerling ( 1487879 ) on Wednesday January 03, 2018 @07:49PM (#55859181)
    When I looked into electric and hybrid cars a few years ago, most of them could ONLY be leased.
    I don't know if that still holds, but it would set both a trend and expectations, so attempts to analyse customer preference based on owned/leased would be unfairly bent towards lease. It would be far more accurate to actually ask people with those vehicles if they'd rather own or lease the it if they had the choice.
  • Battery life? (Score:2, Insightful)

    by Krishnoid ( 984597 )

    Isn't there something about lithium-ion batteries having a 3-year shelf/life, whether they're used or not? I'm not sure if this is true, but if it is, it would make sense to turn the car back in if you'd have to replace the battery, which is the most expensive part (?) of an electric car.

    • by OFnow ( 1098151 )

      When the batteries are poorly managed (as on Leaf) then 2-4 years use
      can reduce the battery capacity 50%. That large a drop in capacity does
      not happen to everyone. But it happens. Depends on the use
      of the vehicle and the temperatures it is used and recharged in.
      Or so I gather from comments by owners.

      But if well managed (as in Tesla) the batteries last a long time.

      Our 2014 S had 100% battery capacity after 3 years (we traded
      it in for a 2017 to get an even bigger battery and more

      In other words, ba

      • Re:Battery life? (Score:5, Informative)

        by mspohr ( 589790 ) on Wednesday January 03, 2018 @08:23PM (#55859337)

        My 2015 Tesla S still has 96% of the original battery capacity after 60,000 miles. I'm happy I bought it since leasing is expensive and I don't see getting rid of this car for a long time.
        OTOH, I have heard that Leaf batteries don't last long since they don't have a good battery management system.
        Leasing is sensible with EVs since the technology is changing fast. Tesla's are good since I get monthly software updates and the battery is good.

      • The Tesla also has a battery composed of so many groups of cells that the battery management system can just stop using a group if it starts performing badly or failing.

        So basically, if a small percentage of cells fails, you'll lose a little capacity but not like with a phone where you have ONE cell that, if it fails, that's it, you're done.

    • Re: Battery life? (Score:2, Informative)

      by Anonymous Coward

      EV batteries have different chemistries. They have turned out to be surprisingly long lasting, especially if properly cooled. Most new EVs have 8-10 year battery warranties.

    • Re:Battery life? (Score:5, Interesting)

      by geoskd ( 321194 ) on Wednesday January 03, 2018 @08:29PM (#55859367)

      Isn't there something about lithium-ion batteries having a 3-year shelf/life

      Un-conditioned lithium batteries tend to have a relatively low life, as measured both in charge/discharge cycles, and in total lifespan. Cell phones have this problem because the cost of Battery conditioning hardware, and the space/weight of such equipment makes it unacceptable for cellphones. As a result, Cell phone batteries (and for similar reasons, laptop batteries) have a useful lifespan of only a few years.

      Car batteries by contrast feature bettery conditioning which maintains temperature conditions in the battery within an ideal operating range which greatly extends the lifespan of the battery (3x to 5x improvement).

    • Most electric cars ship with a 10 year warranty on their battery pack.

    • This was true in the first generation Leaf, after that battery tech has advanced enough where the batteries are lasting the life of the vehicle. There is a Volt owner with over 400k miles with no shown battery loss still.

  • by rogoshen1 ( 2922505 ) on Wednesday January 03, 2018 @07:54PM (#55859203)

    if one truly cared about the environment, and was still wanting to drive themselves (for whatever reason)

    Does it make more sense to:
    a. new car, and all the energy intensive production needed to make it.
    b. used car

    Financially, the calculus is even worse (and gets worse the more you spend, like a fucking Tesla for example)
    Tesla -> ~60k (there's other EV's of course, around what, 30k or so?)
    Used economy car -> 5-10k ?

    That price differential would more than likely be more than you'd spend on gas for the life of the car (realistically several of your life times).

    I'll admit Teslas are pretty fricking cool, but i don't think they should be subsidized by tax breaks.

    • Re: (Score:2, Offtopic)

      by OFnow ( 1098151 )

      If you believe (as I do) that it is crucial to be reducing carbon emissions you immediately grasp why the subsidies exist. When sufficient sales volumes are achieved the subsidies may not be needed to encourage sales, but can still matter (even if smaller) to push down carbon emissions. (yes, we generate enough electricity to charge our Tesla and more: solar).

      If you don't think Carbon matters...never mind.

      • If you believe (as I do) that it is crucial to be reducing carbon emissions you immediately grasp why the subsidies exist.

        Subsidies do not exist because either you or I think it is crucial to be reducing carbon emissions. They exist because the government wants to social engineer the tax-ees into doing what the government thinks is best for us. Sometimes it is because the legislators get lots of campaign contributions from the companies that they are subsidizing, or they are scratching someone else's back so they'll get theirs scratched for things they want. They don't actually care what we think about it.

        When sufficient sales volumes are achieved the subsidies may not be needed to encourage sales,

        If nobody wants to bu

    • by mspohr ( 589790 ) on Wednesday January 03, 2018 @08:25PM (#55859349)

      The new vs used argument is only valid if you assume that no one else would buy the used car.

    • by Anonymous Coward

      I think old EVs will be great because they're mechanically simple. The motor has one moving part. The entire power train typically has 8 gears including differntial. There's no fuel system, air system, ignition system, exhaust system, no oil and a very simple cooling system. No component gets hotter than boiling water, greatly reducing material aging. There will be third party battery replacements.

    • Re: (Score:2, Interesting)

      How do you feel about subsidies that are artificially keeping the price you pay for gasoline low? Should those subsidies also end, or is it only subsidies that bring down the cost of electric vehicles be eliminated?

      • How do you feel about subsidies that are artificially keeping the price you pay for gasoline low?

        Upon which line of the 10-40 do I enter the tax rebate I will be getting for purchasing a specific product -- i.e. gasoline?

    • by DogDude ( 805747 )
      I'll admit Teslas are pretty fricking cool, but i don't think they should be subsidized by tax breaks.

      If gasoline burning cars are going to continue to be subsidized so heavily, why shouldn't electric cars? That doesn't make any sense.
    • Financially, the calculus is even worse

      Only if you want to drive a used car. If you're going to buy a new car either way, and your driving patterns fit the profile that current EVs work well for (which is becoming less of an issue; 200+ miles range works for most people), then the total cost of ownership calculation for EVs gets to be pretty good even without tax credits, and quite compelling with them.

      And if you don't mind driving a used car, you can buy a used EV. It's pretty disingenuous of you to compare new EVs to used ICEVs.

    • There's other EV's of course, around what, 30k or so?)
      Used economy car -> 5-10k ?

      There about 14million new cars sold every year. 8/10 of the EVs currently on the market in the USA are cheaper than the median new car cost. Your financial advice while sound in general does not apply to the market.

      Also it's quite dishonest to compare a new EV to a used ICE vehicle when talking about an industrial change. I hope that in 20 years we get to a point where your used economy cars ARE EVs.

      I'll admit Teslas are pretty fricking cool, but i don't think they should be subsidized by tax breaks.

      Tesla aren't subsidized by tax breaks. EVs are subsidized by tax breaks. There's nothing stopping any other c

  • by GeekBoy ( 10877 ) <(moc.liamtoh) (ta) (bsweel)> on Wednesday January 03, 2018 @08:18PM (#55859305) Homepage

    Nobody wants to be stuck with the cost of replacing the batteries when they stop effectively holding a charge, or they hold much less of a charge than when you first bought the vehicle.

    • Re: (Score:3, Funny)

      by Anonymous Coward

      Complain until Tesla offers $29 replacement batteries.

    • by stooo ( 2202012 )

      That's good, because 99.99% of the EV owners are not stuck with a dead battery.

    • Not at all. Batteries can be replaced. The real issue is no one wants to be stuck with outdated tech. EVs second hand value doesn't hold because the industry moves so quickly. A 5 year old EV is just plain garbage (in terms of range, charging capabilities, features etc) compared to a modern one, whereas a 5 year old ICE car is very similar to a modern one.

  • Three things drive this:

    1. Battery tech continues to improve, both in charge time, discharge, and cost factors. Literally I've seen 20 basic patents for this in just the last two years here at UW Seattle. Thus, it's not worth buying, as the battery depreciates in value more rapidly than the car. Early EVs had 3-7 year lifespans and new battery tech usually means a retrofit to some of the internal systems or the chargers. So by leasing, you avoid buying into one form of tech, and can buy the winning tech (h

  • If you're in California, you can get a $2,500 check from the State for purchasing a pure EV. It's simple.

    If you're looking to capitalize on the $7,500 Federal tax credit, it's less simple. Since it's a non-refundable tax credit, you have to make sure you have a $7,500 tax bill at the end of the year. If you qualify for a $2,000 tax refund, then your $7,500 tax credit just poofed. You get nothing.

    If you have a $2,000 tax bill, then $5,500 of your tax credit went up in smoke.

    Thus, those who like t
    • If you have a $2,000 tax bill, then $5,500 of your tax credit went up in smoke.

      If you're paying only $2000 in income tax, then you probably cannot afford to buy a new EV anyway. From the 2017 draft tax tables, to pay only $2000 you'd have an AGI max of $19,600. Add the $12,700 standard deduction and you have $32,300/yr. Are you buying a $60,000 car on that income? (Numbers are married filing jointly. Lower for single.)

  • These cars are expensive. Leases are cheaper on a monthly base than a 3-5 year payment plan.

    On the other hand the entire market is filled with wealthier individuals, people in those brackets lease for tax purposes as well as the need to have a reliable vehicle. If you can afford (time-wise) to fix your car every other month, then it makes sense to keep your car 10-15 years, myself I am having more and more time-sensitive meetings so I canâ(TM)t afford not to get somewhere because my car broke down agai

    • Who is making such horribly unreliable cars that at 10-15 years old they break down so often? Even when I was driving a PoS 20+ year old Porsche it didn't break down 6 times or even 3 times in a year. I've owned a similarly aged Nissan Z car, a Chrysler sedan, and a large Pontiac I could have put historic plates on. None of them were so unreliable as you seem to think a 10-15 year old car would be. And as my wife would happily tell you I'm horrible about maintaining my cars, the rain provides free wash serv

      • by guruevi ( 827432 )

        Pretty much any American-made or Japanese cheap-car. Jeep, Pontiac, GM, Buick, Chevrolet, Hyundai - I've driven them all, given they were the cheapest of the cheap, most of them cost $1200 or less when I purchased them.

        You're comparing a very expensive high end vehicle to a cheap daily commute car. These cars cost $12-15k when you buy them brand new, not $60-80k, after about 10-15 years of driving in high heat, rain, several inches of snow and salt, up and down hills, this month it's the shocks, then it's t

  • by gurps_npc ( 621217 ) on Wednesday January 03, 2018 @09:19PM (#55859625) Homepage

    That seems to be the take away for this.
    Worst case scenario, replace the battery. Leaf cars can even replace individual cells rather than the whole battery.

  • by ElizabethGreene ( 1185405 ) on Wednesday January 03, 2018 @09:46PM (#55859745)

    I seem to recall a lease was the only way you could get an EV-1 or the electric ford ranger unless you were doing fleet sales. Were the electric Rav4's sold or leased?

  • by Solandri ( 704621 ) on Wednesday January 03, 2018 @10:45PM (#55859993)
    To understand why, you have to understand the economics of EVs. The real economics - not the "EV sales are rising because more people want them" rose-tinted version its proponents like to believe.

    EV sales are taking off because of CARB (California Air Resources Board). They have a ZEV mandate [] (zero emissions vehicles - mostly EVs though Toyota has a hydrogen vehicle on the market). Beginning in 2013 or 2014, CARB required a certain percentage of each manufacturer's vehicle sales to be ZEVs [] or PZEVs (partial ZEVs - basically plug-in hybrids). The percentage goes up every year. The formula is a bit complex but it's about 2% ZEVs for 2018, and supposed to reach over 15% by 2025.

    If a manufacturer fails to reach this percentage, the manufacturer must buy ZEV credits from another manufacturer which exceeded its required quota. This is what keeps Tesla afloat. Since they only sell ZEVs, they always have excess credits which they sell to other manufacturers who didn't sell enough ZEVs. That's right - if you buy an ICE vehicle, you are likely subsidizing someone buying a $70,000 Tesla. This is also why Tesla is in no hurry to ramp up Tesla 3 production. They don't want to flood the ZEV credit market - that would devalue their own credits. So they're going to ramp up production just barely fast enough to keep up with how many credits other manufacturers need to buy to comply with CARB's requirement.

    If the manufacturer fails to sell enough EVs or buy enough ZEV credits, they are banned from selling cars in California. Since about a dozen states automatically adopt CARB's rules, that ban would extend to about 1/3 of the U.S. by population. No manufacturer wants to be banned from that huge chunk of the market, so they do whatever they can to sell enough EVs to comply with CARB's ZEV mandate. This means sales, discounts, incentives, whatever it takes to get however many EVs they need into buyers' hands to satisfy CARB's requirements. This is why the EV deals are better in California than in other states - CARB only counts EVs which are sold in California. So California is where automakers offer the biggest EV incentives. I almost pulled the trigger on a 3-year e-Golf lease in 2016 for $500 down, $79/mo in Los Angeles (the Bay Area had zero down, $79/mo available).

    Since EVs are not actually popular with buyers (at least not at the percentage the ZEV mandate requires), this means the manufacturers have to sell the vehicles at below true market value to generate sufficient sales (sometimes even below manufacturing cost). If they're going to do this, leasing it is preferable to selling it. With a sale, they've lost the entire manufacturing cost of the vehicle. With a lease, they at least get the materials for the vehicle back at the end, which they can then reuse or recycle. And if the blue book value of the EV is less at the end of the lease than was projected, they can write off the difference and get a tax deduction for the loss. Leasing also allows anyone to take advantage of the full $7500 federal tax credit. Being a tax credit, you have to owe at least $7500 in income taxes to take full advantage of it. Based on IRS tax stats, this means the buyer needs to make more than about $70,000/yr to take advantage of the full tax credit. But if you lease it, the tax credit goes to the car manufacturer, who pays a lot more than $7500 in taxes each year. So they can take advantage of the full credit and pass it on to the buyer. That means the real price for a leased EV for anyone making less than $70,000/yr is often less than for a purchased EV.

    All this is why the blue book value of a used EV is so low. The ZEV mandate only applies to new vehicle sales, not used EVs. The incentives lower the price, effectively causing more new EVs to be sold or leased than would've at the correct market p
    • by DogDude ( 805747 )
      That's all great. Nice to see a government subsidy doing something good, for once.
    • A quick look on shows 2015 SEL egolfs selling for $15-$18K. Not at all bad for a car that was effectively selling for $21K new three years ago. Personally I am leasing an eGolf, and expect to net a few K by buying off the lease and selling it at the end of the lease. So for me I am very pleased with the used market.

      OK it's true, really it's a $31K car that had a $10K subsidy. But the subsidy is still going makes sense that it would depress the market for used electrics.

      I fully expect

  • At one point I looked at used Leaf prices, about 60% depreciation for 3 year old one. This makes direct ownership too expensive.
    • Cars are a tool, not an investment with positive yield. Anyone who buys cars based on resale value is fooling thenmselves. Buy the car and drive it for at least 15 years, that is how you get your money worth. may say, your commute to work is an hour each way and you put a huge amount of miles on your car each year. Well....move! That should be rather obvious when your focus is on return on investment. All the time, gas, wear and tear on your vehicle is waste.
      • by sinij ( 911942 )
        I consider resale value as part of my purchasing decision to minimize costs of ownership. I do not intend to drive the same car cradle to grave, so it is inevitable most of the cars I own will be sold at some point.
  • by stikves ( 127823 ) on Thursday January 04, 2018 @01:36AM (#55860591) Homepage

    There two major incentives to lease: price, and obsolescence.

    When I leased, I got a very steep discount on the vehicle total price, and federal tax credit ($7500) was already factored in without going thru any hassles. Also sales tax (which is very high here in CA) is only paid for the portion that you lease every month, and not the full vehicle price. And, when I finally return the vehicle, there won't be another tax for resale, like one would when you do on the used market. Given the lease financing was about 0%, there were many economical reasons to lease than to buy.

    And of course I was expecting the technology to progress fast, like many others, and it would not be wise to be stuck with a short range vehicle (even though I enjoy it in my commute) for the long run.

    The manufacturer and the market just pushes you to lease than to buy with all these incentives.

    • I leased my Nissan Leaf as well, until I bought it. In 2016 my lease was expiring and I extended for a year. In 2017 it expired and I bought the car.

      This all worked out to be *extremely* economical, mostly because Nissan badly mis-estimated the resale value. I leased a $35K vehicle for ~$210 per month for 36 months (no cash down, though there were some documentation fees and sales tax that had to be paid up front on the $7500 federal tax credit). When the lease ended, I paid $6000 to buy the car. 36 * 2

  • A significant number of vehicles, in particular vehicles for business, are leased. This is because Congress hacked up the tax code a long time ago (80's version). And they made an overpriced MBZ require 100+ years to depreciate. The solution, lease. The entire lease is fully deductible on month 1 to end of lease. I believe that maintenance is covered as well, although many leases include all the normal services. Excluding tires, IIRC.

    This was probably written up by someone that is too young to know the re
  • Leasing is great for those who have no money or too much money. The purchase cost for EVs is rather high compared to equivalent gas powered vehicles. That means anyone who is not loaded (and even those) can only afford and EV as a lease. Leasing an EV also circumvents the rather costly battery replacement.
  • by sad_ ( 7868 )

    when you lease the vehicle, the battery is covered in the lease. if you buy it and your battery is underperforming because of age, #charges, etc. you have to buy a new one yourself, which is expensive.

  • We all have too much experience with electric gadgets that won't hold a charge after a few years. When EV batteries have proven themselves robust over time that trust may develop but it will take many years to prove and for that proof to be widely believed.

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