The EV Market is a Lot Tougher. Readers Share Their Experiences.

Dow Jones00:11

People looking to buy an electric vehicle are finding it harder to get the good deals of just a few years ago now that tax credits and other incentives are gone.

Some EV owners who are sold on the technology are digging in their heels and settling for high prices. Others are still in search of more affordable prices in the used market. Some are going back to hybrids or gas cars.

More than 1,600 readers wrote back with their stories of owning and shopping for an EV -- or a replacement for one -- in a market that has fewer EV options and higher prices. Here are some of their responses, edited for length and clarity.

Bill Colaianni, 77, a part-time executive coach at the University of North Carolina School of Medicine in Chapel Hill, N.C., who drives a hybrid 2026 Mercedes E450 All-Terrain.

An EV residual at lease end can exceed the car's actual market value. In my case, my 2023 Mercedes EQS had an end-of-lease buyout of nearly $60,000, between $15,000 and $20,000 higher than what used examples were fetching from retailers like CarMax.

Not willing to take a chance on what someone else might have done to a similar car or pay Mercedes an above-market price, and regarding how difficult it was to charge the admittedly splendid EQS in rural North Carolina, I simply walked away and purchased a hybrid with a more predictable depreciation path.

My range anxiety when heading for the Blue Ridge Parkway has been reduced to zero.

Donald Francis Bohlinger, 70, a tenured professor of screenwriting at USC, Los Angeles, who drives a 2024 Nissan Ariya.

I now drive a 2024 Nissan Ariya, which I bought used with 10,000 miles for $23,000. Such a deal. It gets 215 miles on a charge. I had put down a deposit to buy a Rivian R2, but I just couldn't see paying an extra $25,000 to $30,000 for something brand new. So far, the Ariya is great.

I'm a total convert to EVs. We put solar panels on our roof 12 years ago, so I'm driving on Sunshine. My work is close, about 20 miles round trip. My wife does drive a Subaru Forester, which is a gas car -- but we rarely take it out of the garage. We do take it when we have longer trips beyond 200 miles or so.

Steven Miller, 70, owns an independent commercial real-estate brokerage and lives in Greenwood Village, Colo.

I'm still on a honeymoon. My wife and I had two Chevrolet Volt plug-in hybrids, which we drove for 10 years and thoroughly enjoyed until the battery died in one and Chevy wanted $35,000 for a new battery. We sold the running Volt for good money and traded the dead Volt to Tesla for a Model Y Long Range. Love the car.

All three of those cars, I received a $7,500 tax credit and even more from the state. Then, I bought a used Tesla Model 3 Performance for cheap. No tax credits, but oh my God, that is when the love really started. There is no car like it. I used to drive Mercedes-AMGs and this Model 3 Performance will cream any AMG out there and still cost only half, or a third, or a quarter of the cost.

I travel for work and always try to rent a Tesla. Last trip, they were out of Teslas and gave me a Camry. It worked. It was a car. But it was no Tesla. There was no love there. Give me a Tesla!

Eeraj Qaisar, 58, works in information technology and lives in Robbinsville, N.J. He drives a 2024 Tesla Model Y and a 2025 Tesla Model 3.

I am not going back to gas or hybrid cars. Gas cars do have an advantage -- range and repairs at the local Bob's Car Service if needed. I'm very satisfied with the Tesla Model 3 and Model Y. One-pedal driving, superb handling, confident acceleration and excellent stopping power if needed spoil you. And I don't miss going to the pump.

Both Teslas have improved magically via numerous software updates. I don't lease and keep my vehicles for at least 10 years. I can see benefits of leasing, though -- you don't need to worry about repairs after the warranty runs out.

Marek Domanski, 67, a pediatric anesthesiologist in Fresno, Calif., who also has a home in Boise, Idaho. He drives a 2025 Hyundai Ioniq 5.

I also leased an Ioniq 5 for $343 a month because I couldn't decide which gas car to buy, and I got hooked. From November last year until now, I spent $450 to power my EV for commuting, running errands and local trips. No gas station visits, no oil change, just tire rotation and a brake check.

My next car is most probably going to be a BMW iX3, just coming to the U.S. market for around $60,000. If you don't like EVs, there is no law forcing you to buy one. There is nothing wrong with an internal combustion engine car. I also still have one, which I keep in my vacation house in a different state.

Michael Schumann, 74, a furniture store owner who lives in Naples, Fla., and drives a hybrid Ford Maverick truck.

Ford just took more wraps off their new EV pickup truck called the Fathom in the last couple of days. Entry level price is $28,350. Preorders open in early 2027, with deliveries starting later in 2027.

I'm ordering one as soon as I can to replace my Ford Maverick Hybrid. The Maverick has been an awesome truck. I am getting 42.4 MPG average since new (20,000+ miles city and highway). I'm putting solar on my house, so I'm pretty excited about no longer buying gas and being able to drive for free! There will be a lot of EV options for people in the next year or two. A little patience will be well rewarded.

 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment