Sunday, November 21, 2010

What Would You Pay?

I love new, innovative vehicles.  That’s why I got Bianca as soon as she hit the lots.  She was so different from what I was used to and what I’d seen out there.  I don’t mind being “different.”

Todd and I have looked into electric vehicles for years.  We have gone so far as to researching making Bianca into an electric vehicle!  However, with my commute to work (45 miles each way,) it is just not fathomable.  No electric cells would go that far and back on a single charge.

That being said, the Nissan Leaf  is coming out in the next year.  This is an all-electric vehicle.  The question is, at what cost? Nearly $33,000!  If you were to purchase this at 3.99% interest for 5 years, the payment would be $607/month!!  And that is a low interest rate!  OK, they say there is a $7500 tax credit, but I don’t count those in (if I did, it would be a $470/ month.)

My car payment on Bianca was $215/month.  She is paid off (and has been paid off for over a year.)  I spend approximately $30/week on gas to drive 450 miles.  $30.00/week x 4 weeks a month = $120.  $215+$120=$335 .  That is nearly HALF of the payment of the Leaf.  We did not take into account the price for electric.

I understand it is a 0 emissions vehicle.  I want to reduce my footprint on the earth just as everyone else does.  But the question is, at what cost?  I used to love the Honda Insight that came out in 2002.  I was going to purchase it as my first vehicle, but I could not rationalize getting out of college and getting a $25,000 vehicle!  I also like the Prius.  But guess what?  The price of a low-end Prius is $22,000.  That is $10,000 more than Bianca was.  And you know what else?  It gets only 6-10 miles better per gallon than Bianca.  Todd figured out the time-frame to break even if I purchased a Prius, and it was over 12 (or was it 15?) years.  Not to mention, Bianca is a lot cuter!

Would you pay this amount of money for an electric vehicle?

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