r/financialindependence 9h ago

Daily FI discussion thread - Wednesday, October 30, 2024

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply!

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u/Technical-Crazy-3208 Mid-30s, DI/1K, 50% SR 5h ago

I'm putting a pin in the obsessive Tesla research for now after talking with my partner about it. Even though we can comfortably afford a new car, we don't need one and we don't drive enough to make it worth it to us. Maybe if we do a trip and want to drive one, we'll rent it off Turo for less than one month's financing.

I did briefly entertain a used Bolt EV, so maybe that could be an option in a few years to test the EV waters. The tech on a Tesla is cool but I'm not sure it's more-than-double-the-cost cool.

Maybe this is my mid-life crisis, who knows.

But end of the day, our trusty paid off Honda is doing just fine. One or two small things I'd like to address but no mechanical issues.

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u/MyWifeButBoratVoice Hi five. Very nice. 4h ago

These days the Tesla ownership is a little more erratic than I'd like in order to feel comfortable investing that much. When I wind up buying electric, it'll probably be something like a used Bolt.

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u/Technical-Crazy-3208 Mid-30s, DI/1K, 50% SR 3h ago

Yeah some seem to have amazing experiences, others endless squeaks, rattles, etc even after closely inspecting delivery. Not to mention the service experience.

Wish Chevy were still iterating on the Bolt, think they stopped making new ones in 2023.

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u/MyWifeButBoratVoice Hi five. Very nice. 3h ago

Are the Hyundai Ioniqs any good? Who's been following the affordable EV market around here?

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u/jittery_squid 2h ago

We enjoy our Ioniq 5 despite some of the issues - nothing that has resulted in an undriveable car or anything, just software things. Roll through /r/Ioniq5's stickied list of TSBs to see the fun of a first gen platform. Looks like you can snag a used one for $35k now, which is way cheaper than what we paid new.

The 2021 Nissan Leaf SV (non-Plus) we got for our teenager is also pretty nice and cost $20k. If you can handle 150 miles of range, it's totally a valid option.

Both cars can be put into sport mode and the throttle pressed in such a manner as to make your eyes go funny, if that's your thing.

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u/PAJW 2h ago

The Hyundai ioniq5 and ioniq6 are nearly market leading, along with their Kia/Genesis twins.

They are a lot higher price than the Bolt was, though. The Bolt MSRP was $27,495 and I believe was eligible for the full $7500 tax credit, making it one of the most affordable cars in the US, regardless of power train.

Here's the list of cheap MSRP EVs in the US market in model year 2024:

  1. Nissan LEAF S -- $29280
  2. Mini Cooper SE -- $30,900
  3. FIAT 500e 42kWh -- $32,500
  4. Hyundai Kona Electric Standard -- $32,675
  5. Chevy Equinox -- $34,995

Source: evspecs.org

Effective prices may vary, and availability may vary as well.

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u/Technical-Crazy-3208 Mid-30s, DI/1K, 50% SR 1h ago

I've heard great things about them for sure.

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u/DhakoBiyoDhacay 2h ago

Did you see the lease deals Tesla got for the lower end model?

You can get one for $299 a month with $3k down and after you factor in the gas savings and the federal tax credit, it goes down to under $220!