Hyperdrive
So You Decided on an Electric Car. Now What?
Whether you should buy or lease, how long it will take to charge, and all your other EV questions, answered.
Illustration: Arina Shabanova for Bloomberg Green
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An electric car is cleaner and, over time, will save you money. No brainer? Read on.
Battery technology is improving so fast—providing longer range at a lower cost—that a new electric vehicle can become obsolete within the span of a three-year lease. You don’t want to be the one holding that fast-depreciating asset: “When we look at used values for electric vehicles, they’re not good,” says Jessica Caldwell, executive director of insights at Edmunds. On the flip side, there are bargains to be had in the used EV market, and that’s a good way to reduce your carbon footprint.