Episode 46

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Published on:

6th Apr 2023

The EV Purchase Conundrum - Buy New, Used or Not at All?

00:00 - OPEN - The EV Purchase Conundrum - Buy New, Used or Not at All?

In this episode, learn more about government mandated EV target dates, the problems that lie ahead for Electric Vehicle adoption in the US and how those problems might affect you.  Also, if you’re considering getting an EV sooner than later, I’ll give you some ideas on how to dip your toe into the EV waters, without getting in over your head.  

01:15 - INTRO - The Government Push For New EV's

Governments around the world are pushing manufacturers to switch from building mostly gas powered vehicles to producing mostly or only electric powered vehicles as soon as possible.  

06:00 - Experts Don't Think The Current EV Target Dates Are Achievable

A recent survey of more than 600 industry experts found that nearly 2/3rds of respondents didn’t believe the government mandated shift to EV production was achievable within the 2035 to 2040 legislated timelines.  

07:05 – Reasons Why Industry Experts Believe EV Adoption May Not Happen By The Government Target Dates

ELECTRIC VEHICLES

  • Less EVs to choose from (this includes used EVs)
  • High EV prices overall (new and used) compared to gas-vehicles 
  • Incentives help, but they only offset the high price
  • Purchase incentives don’t make EVs affordable to the average person. 
  • Current EV adoption rates are not growing at the rate necessary to meet the target dates

BATTERIES

  • Battery range for lower end models is limited
  • Shortage of raw materials for battery production
  • Difficulty adapting to a new battery supply chain
  • High levels of investment by automakers and suppliers
  • Retraining the automotive work-force
  • Overall cost of labor  

INFRASTRUCTURE

  • Current lack of charging stations
  •  Inconsistent charging capability  
  • Lack of grid capacity

POTENTIAL UNFORESEEN PROBLEMS

  • High-priced EVs are not affordable to lower & middle income families
  • Where do all the old batteries/battery materials go?  
  • Who takes old batteries apart and deals with toxic materials?
  • Bad actors may damage the power grid

15:05 - Your EV Purchase Options - Buy New, Used or Wait?

BUY A NEW EV

  • Buying a new EV is still much more expensive than gas-powered vehicles
  • Federal incentives don’t help as much because the criteria for getting the incentives have changed and fewer EVs and buyers qualify
  • My recommendation is to wait until EV choices and supply go up and prices moderate

BUY A LATE-MODEL USED EV

  • Purchase a late-model used EV (EX: Tesla Model 3) for $30-35K
  • Should have sufficient range for longer trips
  • Access to the Tesla Supercharger network for fast recharging

BUY AN INTERIM HYBRID VEHICLE

  • If you must buy new, I suggest you skip EVs for now and get the new 2023 Toyota Prius
  • It's finally attractive, relatively quick and fun to drive and you don't have to sacrifice your dignity to get 50-mpg

BUY AN INEXPENSIVE USED EV+ A GAS-POWERED VEHICLE

  • My favorite suggestion is to get 2-vehicles: A cheap used EV for local errands and short commutes, plus a gas-powered vehicle for longer trips and weekend adventures
  • For your used EV, I suggest a first-generation Nissan Leaf or the Fiat 500e, which was sold new as a compliance car in California and later in Oregon

STICK WITH GAS FOR NOW AND GET AN E-BIKE FOR LOCAL ERRANDS

  • With an E-Bike you can go Electric relatively cheap without paying EV prices
  • The caveat? Drivers don't pay attention like they should, so you might be vulnerable riding an electric bicycle on the road

DO NOTHING NOW AND WAIT FOR EV PRICES TO DROP

  • If you're not willing to invest in an EV yet, wait.
  • Prices will eventually drop and charging access will improve over time

24:50 - CLOSE - Quick Review of EV Purchase Recommendations

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About the Podcast

Better Than New
Find a cool used car, truck or SUV at a price you'll love
The average new car sales price in the US is nearly $50,000, and the average used vehicle sales price is close to $30,000... I think that's insane! Well if you're like me and you don’t want to pay these crazy inflated car prices, I believe you should still be able to drive something fun. That’s the idea behind Better Than New – a podcast to help you find a cool used car, truck or SUV at a price you’ll love.

I’m Gary Crenshaw, host of Better Than New and a long time automotive enthusiast, and I want to inspire car buyers on a budget to think differently about what they can actually afford to drive. My goal is to introduce listeners to the broad array of interesting, fun-to-drive, enthusiast-friendly used cars, trucks and SUVs available at prices just about anyone can afford… vehicles from the 80s, 90s, 2000s and beyond that offer buyers a wide range of interesting choices. Each week we’ll explore a specific vehicle or vehicle category, tell you what to look for and what to avoid, and give you practical tips to help you find your next cool used car, truck or SUV and keep it on the road for years to come.

With a little work, the joy of owning a cool used car at price you’ll love is within reach and this podcast is here to help you find it.

So hop in, buckle up and let's go for a drive!

About your host

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Gary Crenshaw

A lifelong lover of all things mechanical, Gary has spent the majority of his existence driving, dreaming about or wrenching on cars, motorcycles and even the occasional airplane.

It started with mini-bikes and go-karts as a kid, progressed to 2-stroke dirt bikes, followed by his first car… a 1969 Volkswagen Beetle. Then came the Yamaha era with several RD400s, RZ350s and a Canadian RD350LC (should have kept that!). A pilot’s license was next with some memorable hours flying a 1946 Aeronca Champ low and slow around the Pacific Northwest. While in college, his brother-in-law who sold high-end cars hired him to deliver BMW, Mercedes and Porsche vehicles to customers.

Those early experiences led to a lifetime of owning an eclectic mix of interesting used cars, including a ‘65 Mustang GT, a ’72 Datsun 510, a Porsche 914, a Celica Alltrac Turbo, a Mini Cooper S, a couple of Miata’s, two Audi S4 Avants, a Galant VR4, a Fiat 850 Spider, a 1983 Subaru 4x4 GL wagon and a first gen RX-7, along with dozens of daily driver cars and SUVs from Acura, Honda, Toyota and Mazda. And his favorite? Depends on when you ask, but that distinction likely goes to the Mazda RX-4 station wagon he learned to drive in. That fun-to-drive car combined Gary's passion for wagons, rotary engines and manual transmissions all in one.

So what about you? Which used car, truck or SUV would you love to own? Let’s find it together!