Electric Car Case for ROI

I recently purchased a Nissan LEAF. I’ve always wanted an electric car. I remember seeing long gas lines when I was a kid during the seventies. I’ve been following electric car progress ever since.

I n my opinion, two things now make them a very viable transportation choice:

1. Range: LEAF get 80 to 100 miles per overnight 120 V charge. Tesla’s get a lot more but they violate my #2.

2. Price: Brand new $30,000 plus LEAF are still pricey, but barely used LEAFs coming off-lease are going for only $13,000! Higher mileage LEAFs go for even less. I’ve seen some 40K mileage ones for $8,995. With really low interest rates available you can begin to get amazing ROI’s.

Many Americans are commuting 50 miles per day and spending $300 or more per month in gas.  A $13K purchase plus tax, tag, title, etc will run about $275 per month for 60 months. Yes, I think a low mileage LEAF (and its battery) will last at least that long. Add $25 to $40 a month to charge it each night and you have a vehicle that earns its keep in gas savings. If it last more than 60 months, it makes you money!

I’m sure I haven’t accounted for all the costs involved. There are probably a few more, but even at the national average of 12 cents per kwh, the LEAF yielding 4.6 miles per kwh makes it a very cost effective alternative to the average gas powered car.

One final tip: Make sure you get an electric vehicle with the quick-charge option. This help combat “range anxiety”. More about this in my next post.

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