Not lusting after it, but certainly stupid: a car. We've been a one-car family (of four) for the better part of 6 years, which has worked just swimmingly while I e-bike around town. Our kids have been aging relentlessly and are nearing driving age. We have no plans to just buy them a car when they get a license. I'm an anti-car dependence advocate and have been hammering it into their brains for years that alternate modes of transportation should be sought whenever possible. Nevertheless, a second family car has been in the planning as we reach three and then four drivers in the household.
We're still a couple of years out, but I have started poking around, with an interest in a used EV to capture the $4k tax credit. We just sneaked under the MAGI cutoff last year. Not sure if we will this year. Might end up with the same car (Tesla Model 3) I was actually lusting after years ago before I flipped the switch and went all in on e-biking.
Well, I did it. Was still planning on waiting until sometime next year, but then November 5 happened, and I quickly realized that meant a strong possibility of the tax credit disappearing or otherwise being gutted. Beyond the $4000 itself, the tax credit has helped depress prices of used EVs in general, as it pushed slighly higher-priced cars down to the $25k limit (and this cascaded down the line).
Thankfully, it does seem that the insurance will be much cheaper than I was fearing, so once we get this charging stuff figured out, after gas savings it shouldn't be too much of a recurring hit to have two cars. Obviously, we're out the purchase price, but I'm satisfied with paying just over $20k after taxes for a car that was ~$60k just a few years ago.
I have to razz you here (good natured!) ... lets consider the last 6 years: "anti-car dependence" guy refuses to get 2nd vehicle, but at end spends $20k purchase price on 2nd car. Meanwhile I (suburban guy driving everywhere) have 2 cars the full 6 years for almost exactly $20k (counting purchase price).
Why did you go new electric rather than cheap Toyota/Honda you could've had this whole time? And (as someone who has never researched electric) how will your ongoing costs (fuel, insurance, maintenance, etc) going forward compare (Old ICE vs new electric)? Just thought I'd snarkily point out someone might have to take your 'anti-car dependence' badge 😂
Certainly deserved in the sense that we don't need a second car, and now we have one. I am still e-biking everywhere when possible, leaving both cars at home, but having two cars does make me feel a little dirty! I will note that my hatred of giant cars and car culture is not just a cost complaint.
When it comes to the ongoing cost comparison, though, the EV (it is used, not new) is much lower than ICE, which is part of why we went in that direction. It's also why we went EV instead of PHEV - the gas motor and associated hardware all needs to be maintained even if you're not using it often. Fuel is about 1/5 the cost of gas for our situation, and maintenance should mostly just be tires.
I was fearing that insurance might be pricey, but it wasn't bad at all. They asked me the purchase price, and insuring a $20k EV is much cheaper than the $60k this car would've been new. I dropped the coverage on the old car to lower mileage, liability only, and insured the EV to the same level that our previous coverage was. Total insurance cost only went up about $200/year.
Nevertheless, thanks for the facepunch (seriously), even if I might quibble with your finer points. Need more of those around these parts.
Topic: What's the stupidest thing you're lusting after right now? (Read 1418028 times)
