- The family needed a new second car for city driving, and after crunching the numbers, a used Nissan Leaf emerged as one of the best deals on an electric vehicle in America, with a price tag of around $20,000 and super low maintenance costs 10s.
- The fuel cost of the Nissan Leaf is about a fifth of what would be paid for a conventional gas vehicle, and the insurance cost is not significantly higher than a conventional vehicle, with the all-in 5-year cost for this car after trade-in being $30,000 42s.
- In comparison to the Nissan Leaf, a Hyundai Elantra hybrid would cost about twice as much to fuel as a pure electric vehicle, with comparable insurance and maintenance costs, resulting in an all-in cost of $33,000 over 5 years 1m26s.
- The gas-only version of the Elantra was also analyzed, with a lower initial cost but a fuel cost four times higher than the electric vehicle, and similar insurance and maintenance costs, resulting in an all-in cost of $32,000 over 5 years 2m6s.
- A used Honda Fit with over 100,000 miles was also considered, with high maintenance and fuel costs estimated at $6,000 and $10,000 respectively over the next 5 years, but an overall lower cost of $28,000 if driven into the ground 2m50s.
- Ultimately, the Nissan Leaf was chosen due to its convenience, low maintenance, and safety features, with the potential to be a good financial decision if gas prices remain high or continue to rise 4m10s.
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The Undeniable Math That Convinced Me to Go All-In on EVs | WSJ
Economics
17 May 20261 min summaryFrom The Wall Street Journal
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