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2 Year Spending Goals Update Number 2 - New Vehicle

July 11th, 2016 at 03:10 pm

The more we research, the more we lean towards getting an electric vehicle.

Because auto makers are rapidly making technology advancements on electric cars, it makes sense to try to wait another year or more before purchasing. The biggest improvements are in the driving ranges(without a range extender). For example, the Nissan Leaf has an estimated range of 84 miles but the Chevy Bolt coming out in 2017 has an estimated range of over 200 miles. That's a big difference!

So, the current plan is to get new tires for the old car (total cost with tax $226) but let the repair go (it's still drive-able) and coax another year or so out of it. If the car happens to die before we are ready to pull the trigger on an electric car, we'll manage fine with one vehicle for awhile.

As we ponder purchasing an electric vehicle, knowing we'll be using more electricity, we are also compelled to think more seriously about installing a solar power system on our home. Tomorrow evening friends with a solar system are entertaining us at their home so we'll certainly be asking lots of questions!

P.S. - A friend just purchased a new SUV. He offered to sell his old one to us for what he could get from the dealer at trade-in, which was about $4K lower than KBB Private Party sales value. While we were very appreciative of the offer and realized that he was offering us a great deal (we know how he maintains his cars, he treats them like babies, and takes them only to the dealer for every single maintenance and repair), we only considered accepting his offer for about 15 minutes. As soon as I did an internet search and found out that the gas mileage is 12 MPG, we had to say thanks but no thanks!

4 Responses to “2 Year Spending Goals Update Number 2 - New Vehicle”

  1. LivingAlmostLarge Says:

    I know an engineer who worked on the leaf battery and he said to lease electric cars for the next 10 years. Actually two engineers because the battery life not only doesn't support driving far but it also dies quickly. Just a suggestion My brother bought a leaf, not smart, and luckily the battery lost holding charge in 4 years to less than 50 miles so it was replaced for free. He won't be so lucky next time. And he admits after he bought it he'd heard the same about leasing electric cars.

  2. scfr Says:

    Good information LAL, thanks. I wonder how many miles a year your brother drives and if that affects battery life? DH currently drives only 3-3,500 miles a year (no commute).

  3. FrugalTexan75 Says:

    As a TSLA stockholder, I won't encourage you towards any one particular brand of electric car. Except to say that my aunt and uncle bought a Model X? and absolutely love it. Smile

  4. rob62521 Says:

    Folks don't buy SUVs for gas mileage, that's for sure. Smile

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