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If you're buying a new one might want to take advantage of those tax rebates before they are all gone. If you're buying a used one, I'd way until summer. The bump from tax rebate season will be over and the used car market is oversaturated with EV's.
If you're buying a new one might want to take advantage of those tax rebates before they are all gone. If you're buying a used one, I'd way until summer. The bump from tax rebate season will be over and the used car market is oversaturated with EV's.
Currently the tax rebates are cash on the hood. And while there's a $7500 credit/cash for most new EVs, there's a $4000 one for used EVs (so long as they are over 2 years old and already under $25k) making used EVs pretty popular right now. I mean, a 4 year old Bolt with a price of $22k at the dealer can thus be had for $18k. And most likely will have a new 100k mile warranty. It's a great, inexpensive way to get into the EV world.
Because Federal tax credits will end as they sell more. Same for state and power companies rebates. Also no additional charge for road maintenance on registration that also will end as more and more people get them.
If you live in a smog check state and have an older car smog checks are going to get harder to pass.
I don't know how you think the highway use tax is just magically going away for EV owners. The roads still have to be maintained and redeveloped which requires funding from taxes and EV owners will not be exempt from paying them...at least not in North Carolina.
I don't know how you think the highway use tax is just magically going away for EV owners. The roads still have to be maintained and redeveloped which requires funding from taxes and EV owners will not be exempt from paying them...at least not in North Carolina.
This summer will be a good time to buy an EV, when everyone digests the coming news stories about how badly they're holding their value. You want desperate carmakers and salespeople. They're nowhere near desperate enough. Next fall/winter will be even better, once the coming summer gas price shocks subside and people forget that gas is sometimes over $7/gallon.
If you want a plug-in-hybrid, now is the time. Actually maybe a month ago. They are about to be the new automotive media darlings, after years of being denigrated. Scads of brand-new PHEV's coming out will whet the public's appetite for them, but they'll be so expensive that even the used models of yesteryear will also rise in price.
Also; what others have said about EV credits and bonuses ending.
Here in Washington State EV drivers pay $100/year for road tax, and we have no smog tests at all any more.
$150. Figuring the gas tax is 50 cents a gallon that means 300 gallons of gas. Figuring most of the EVs or fairly efficient types of things like Civics or CR-Vs that the gas analogs get maybe 30 mpg that's about right. EVs don't tend to be driven much for several reasons. The people that own them are richer and don't need to drive as far until they qualify, they take the gas cars when the go farther. The big study was about 7k miles a year, but that was also using some older data before there was much of a charging network so probably it's more now. At any rate, it's about right for a Model Y/CR-V but not about right for an F-150 Lightning.
Over the past 6 months, the market has slowed a little bit and prices have fallen as manufacturers have dropped prices to try to keep their unit sales up, so yes, not a bad time.
I wonder about Tesla and EV sales. I read on the news today that it is possible for Tesla to decrease its workforce by 20%. But it is true that those who want to buy an EV may be able to find good deals at the moment. It is also true that some buyers from a few months ago had to pay more for their new EVs than what buyers are paying now.
“Tesla on Saturday once again cut prices on several of its models for the U.S. market, as part of around-the-world price cuts. Given the cuts, anyone considering the Model 3 and Model Y in the U.S. may want to take a fresh look at the numbers.
The base price of the Model Y rear-wheel drive has dropped $2,000 versus last week, to $44,630, while the Model Y Long Range AWD price has dropped by the same amount to $49,630. Both are eligible for the $7,500 EV tax credit, cutting the effective price for many households to just $37,130 and $42,130 respectively.” -From greencarreports.com.
$37,130 for a Tesla Model Y. This is, again, quite a deal.
NJ is ending its positive EV environment very soon. Has me thinking about jumping on a Rivian now before the tax breaks go away. The only problem is that for roadtrips, they still don’t have the NACS port. I’m not buying another brand until they do.
Another good reason to hold off for a bit is that currently not all Tesla Superchargers work with Rivian. When I look on Rivian's charger map, they indicate only two Tesla Supercharger locations in my state that are compatible with Rivian (in North Platte and in Kearney), when I know there are also Tesla Superchargers in Omaha, Grand Island, and I think in Scottsbluff. And the map shows NO compatible Superchargers along Interstate 90 in South Dakota. But I have no doubt that the Tesla Supercharger network will be upgraded (as well as continuing to expand), so I expect that by the time the R2 (which seriously interests me) comes into production the Rivian charging map will look better.
You might want to check the routes you usually take for road trips on the Rivian map; if there are plenty of compatible Tesla Superchargers on those routes, you could get an R1T or R1S with the NACS port next year. But if you want an R2 or R3, or if the Rivian charging map for your trips looks sketchy, then holding off until 2026 or later is a good idea.
I'm waiting for the next gen of Rivian SUV (R2) to come out in early 2026....starting price $45k, but you know how that goes...I'm figuring $60k because I'll want the high-end model w/ extended range, 4 whel drive, & leather.
Its a bit smaller than the one out now, & will have the universal charger receptacle.
Somebody posted a link to the Rivian CEO doing a video about the next gen Rivian's coming out, & I was impressed by his presentation...which previews the coming models.
I doubt I'll use it for cross country trips though. We'll keep 1 gas SUV for that.
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