this post was submitted on 20 Jul 2024
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Electric Vehicles
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All that extra expense up front usually needs to be financed. This also cuts into the long-term benefits via interest.
Edit: ex., I went to car and driver to find a comparable ICE and BEV. The Genesis Electric G80 is $21,225 more expensive than its ICE counterpart. Offered 4.9% interest on that amount only is an extra $3k over a five year term.
This brings the [financed period] monthly BEV premium to $400/mo, in just one example. I personally don’t use anywhere near that much gas, and my break even in this case would be closer to ten years. The entry level electric Hyundai Kona is only $10K more and will get you down the road about 190 miles before needing a charge.
Exactly.