So, we are finally going to pull the trigger on getting rid of our facepunch mobile - a leased entry-level luxury car. Yeah, yeah, I know. It's two years old now so I should be able to trade it in or sell it for the lease buy out amount, or pretty close to it anyway. Can't wait to be rid of the $500/month payment + $200/month insurance + $150 or so of gas per month. Ugh. I bought this car before MMM, and didn't calculate my actual driving cost, which is over $0.60 per km. Instead I just asked "can I afford this?" Ugh.
We want to go electric. Our second vehicle (an older, non-luxury, higher mileage SUV that is totally paid off) is good for any longer road trips. So the electric vehicle will be our primary commuting vehicle, and we will drive it as much as possible. (I figure for every 100km, we will save about $10, maybe a bit more??) My wife and I commute together since we work at the same spot but our schedules are a little offset, some days she works when I don't and vice versa. So, going down to one vehicle isn't an option for now.
But, as we consider the EV purchase, I find I am falling victim to two different traps that are pushing me into wanting to get a new vehicle (which I swore I would never do again):
1) range anxiety and
2) fears of depreciation on a used vehicle / missing out on really sweet govt incentives.
Example:
2019 Bolt. 383 km range. $40,000 ($45,000 base - $10,000 incentive + probably some options, let's be honest)
2016 Leaf. 172 km range. $25,000
Simply put, is the extra range / more options / govt incentives "worth" the extra money? Will the shorter range vehicles become obsolete quickly? Will battery degradation of the shorter range vehicle mean that before long it doesn't suit my needs? What is the best way to determine my ACTUAL needs? As my wife and I were discussing this we quickly fell into the trap of "well, what about the days we have to leave work to go to an appt in the city and that means we are driving more those days?" etc etc. I'm like, just take the SUV those days.
I was thinking of starting a mileage log to really track how much we drive in a given day. I know that we do about 15,000 km per year in each vehicle, but I have no idea how that is distributed throughout the week, or how frequently we have a "peak usage" requirement where we are driving, say 200 km in a day. To/from work is only 15 km each way, but then you add on kids activities and various errands, and ...well, it's different every day. Is it worth tracking this beforehand to get a solid number, and add a buffer to account for changing life circumstances?
Can anyone who has done this share what worked for them in coming up with their range needs, and if they would do it any differently?
Thank you!