I’m planning to buy a new-to-me electric vehicle soon. I’ve changed my mind a few times about what I’m looking for. First, I wanted a Nissan Leaf, then I started considering Chevy Bolts (still in the running), and now I’m thinking about the Niro EV. The problem is that I can’t get a straight answer from dealers about leasing costs. I’m hoping to get some advice about buying a 2020-2022 EV with under 40k miles versus leasing or buying new. I’m in Massachusetts, and I…
I just bought a used 2022 Niro EV in October and couldn’t be happier. It cost me $19K, plus I got the $4000 federal tax credit. It had only 29,000 miles on it, but it looks and drives like new. I think it was a great deal, even though it’s a bit basic compared to other EVs. Plus, there are plenty of great options coming off leases. My finance payment is $232 per month, and I no longer need to buy gas.
@Val
Was it $19K before the tax credit, meaning you paid $15K after the credit?
Milo said:
@Val
Was it $19K before the tax credit, meaning you paid $15K after the credit?
Yes, it was $15,200 after the tax credit.
Milo said:
@Val
Was it $19K before the tax credit, meaning you paid $15K after the credit?
Yes, it was $15,200 after the tax credit.
Wow, I should probably look outside of WA for better-priced EVs.
@Milo
I bought mine near Orlando.
I can’t speak about the specifics of leasing, but I think used EVs are a great value right now. You can get a Certified Pre-Owned (CPO) car for peace of mind with the warranty. I used the Kia website to find available CPO models. The used EV tax credit is tough to get because some dealers are reluctant, but even without it, you can find a great car for $20K-$25K with 15-25K miles. I used the $4K tax credit and got a 2021 Niro with 14K miles for $20,500.
@Dallas
Also, if you’re in Massachusetts, look for EVs with the cold weather package.
@Dallas
Yes, I got a '23 Wave with the cold weather package and 8K miles for just under $25K. If you qualify for incentives, it’s a great deal these days.
Hart said:
@Dallas
Yes, I got a '23 Wave with the cold weather package and 8K miles for just under $25K. If you qualify for incentives, it’s a great deal these days.
That’s exactly what I’m looking for, and I want to get it in January, before the $4K federal EV credit potentially expires. Wish me luck.
@Dallas
Kia allows warranty transfers for CPO vehicles. The CPO warranty only extends the EV motor warranty from 60K to 100K miles.
Jules said:
@Dallas
Kia allows warranty transfers for CPO vehicles. The CPO warranty only extends the EV motor warranty from 60K to 100K miles.
Yes, the 60K-mile / 5-year warranty transfers to new owners. The CPO also gives the new buyer a 12K-mile / 1-year bumper-to-bumper warranty in addition to the 100K-mile / 10-year powertrain warranty from the original service date. I think the extra powertrain coverage is worth it. Plus, CPO cars are usually checked and repaired before being sold.
If I didn’t already own a 2022 Niro, I’d definitely consider a used one or a Premier Trim Bolt EUV, mainly because of the super cruise feature. Both are priced similarly right now and should qualify for the $4000 federal tax rebate. The EUV has a max DC charge of 50-55kW, and it has all the creature comforts, like heated and ventilated seats. The Niro has faster DC charging at around 75kW but lacks some of the features like super cruise and a glass roof. Both are very similar in range.
@Ezra
Just to clarify, the Niro EV EX Premium in the US does have ventilated front seats, a sunroof, and adaptive cruise control. Not sure if that’s the same as super cruise. Is super cruise hands-free?
@Vaughn
Super cruise is GM’s version of autopilot. It can automatically slow down and keep a set distance from the car in front. Both the EUV and Niro can work with open pilot if they have adaptive cruise control, but super cruise models cannot.
If you buy used, the Gear Drive Unit warranty doesn’t transfer unless you get a certified vehicle.
Used ones are a great deal, and that’s what we went with. If I were leasing new, I’d probably go for an Ioniq 5 unless the price difference is huge.
It depends. If you’re leasing new, I would look for better deals on the Niro since it’s becoming more popular. Otherwise, you could get a used 2020-2022 Niro and still qualify for the $4K federal credit, which brings the price down to $16K-$21K for those model years.
We lease a 24 PHEV for $320 per month with 10K miles per year, and $3K down. I think EVs might be more expensive, though.
Used ones with 30K miles go for around $15K with dealer credit. The best part is you own it, and you can modify it however you like. You can add a frunk and get rid of the backup alarm.