Why I’d Never Buy an Electric Car, And You Shouldn’t Either
There’s a line in every car buyer’s journey where aspiration meets arithmetic. Lately, that line is littered with electric vehicles—and more than a few regrets. Having driven just about every EV that’s hit the road, I can tell you this much with unwavering certainty: I’d never buy one. And if you knew what I know, you probably wouldn’t either.
Isn’t that a bit extreme?
Quite possibly. But then again, so is buying into a segment where technology evolves faster than a TikTok trend and resale values plummet like a falling piston rod. You see, it’s not the cars I take issue with—some are genuinely thrilling. It’s the ownership model that’s gone stale.
What’s wrong with buying an EV?
Let’s begin with the big D: depreciation. A typical gas-powered car loses around 39% of its value in three years. The average EV? 52%. The Nissan Leaf? A staggering 70%. That’s not value erosion; that’s automotive disintegration.
Leasing an EV, however, makes you immune to this financial flu. You return the keys just as the next battery breakthrough hits the market. No awkward resale conversations. No explaining to a dealer why your range is now “aspirational.”
But what about that $7,500 tax credit?
Ah, yes—the ever-elusive pot of gold. It’s a maze of regulations and fine print. Only a handful of models actually qualify for the full federal credit under the latest revisions to the Inflation Reduction Act. That is, if you earn the right income, buy the right vehicle, and fill out the right paperwork with the enthusiasm of a CPA.
If you lease? The leasing company claims the credit and passes the savings to you up front. It’s the only time the taxman actually helps you avoid paperwork. A rare delight.
Isn’t EV tech finally catching up?
Yes—and that’s exactly the problem. Buy an EV today, and you’ll be lapped by next year’s advancements before your coffee cools. Charging standards are shifting (Tesla’s plug is now the U.S. norm), battery chemistries are evolving (solid-state looms), and infrastructure is sprinting to meet demand.
And let’s be honest—would you buy a phone that can’t get software updates or use the latest charger? Of course not. So why treat a car any differently?
Aren’t there any EVs worth owning?
Oh, absolutely. Two, in particular, spring to mind.
First, the Dodge Charger Daytona SRT EV. Yes, it’s electric. Yes, it’s loud—on purpose. Dodge engineers have imbued it with a synthetic V8 soundtrack that’s somehow both hilarious and glorious. With the most accurate range prediction I’ve tested, it’s a muscle car that doesn’t make excuses.
Second, the Hyundai IONIQ 5 XRT. It’s what happens when clever design meets modern utility. There’s room for the dog, the groceries, and your in-laws’ emotional baggage. It even tackles light off-road terrain with minimal embarrassment.
Both are brilliant in their own ways. And both are ideal to lease—not own.
How does this affect everyday drivers?
If you’re the sort who drives until the wheels fall off, EV ownership is a gamble. Cold weather slashes range. Repairs take longer. Insurance is 20–30% higher. And unless your house is wired like NASA Mission Control, home charging may cost you extra.
Then there’s infrastructure: still patchy, often broken, and occasionally located behind a closed Burger King.
So, what’s the verdict?
Drive EVs? Absolutely. Enjoy them? Definitely. Own them? Not unless you fancy watching your investment dissolve like a sugar cube in the rain.
Leasing allows you to experience the tech without absorbing the risk. You get the thrill without the thud of declining value. And you can upgrade every two or three years—before your car becomes the punchline to someone else’s podcast.
Final word?
I don’t hate electric cars. Quite the opposite. I’ve driven nearly all of them—from the silent city crawlers to the torque-happy titans. I simply believe that until the technology settles, the infrastructure matures, and tax policy finds its compass, leasing is the only sensible way to plug into the future.
