The flip side of the rapid tech churn of electric vehicles (and thus the popularity of leasing them) is that used electric vehicles are available for dramatically less money than new cars.
I just purchased a ten year old EV for literally 10% of what its listed price when new.
Stupid move, if you must rely upon it. But for us, it can be an in-town utility grocery getter, even local job commute, all-weather vehicle that is safe at highway speeds... A BMW the price of a golf cart.
> Leasing my Mach-E was the right thing, and more are doing it. Leasing made up over 35% of new EV financing in the first quarter of 2024, up significantly from 12% in 2023, according to global data company Experian. It makes sense for such fast-moving tech. When my lease expires in two years, I expect better batteries, chips and more.
Part of the reason leasing is popular is that the current batch of incentives offers some rebates only if you lease. Some vehicles qualify either way, but a decent chunk of them it's only if you lease. I would have liked to have seen numbers here that show it's actually better to lease. If you only have a vehicle for two years, the bit about low-maintenance is mooted, since most vehicles have little maintenance in the first couple years anyway.