Americans Prefer Leasing EVs Because They're Not Stupid

Sales

Early adapters always want the latest thing.

There’s a marketing industry term for a certain type of consumer: “early adapters.” As the name suggests, these are the first ones in line to buy something new and are not afraid of doing so. Early adapters are also, not surprisingly, typically the first to drive EVs. But according to Bloomberg, an overwhelmingly majority of US electric vehicle drivers are not buying but rather leasing their rides. About 80 percent of all EVs in the US today are leased, while nearly 55 percent of plug-in hybrids are also leased. Why is this?

Because these people know that in just a few years, by the time their leases run out, there’ll be new tech to try out and they don’t want to be stuck with the so-called old stuff. Because of this trend, there’s often a large number of used EVs turning up on dealership lots, meaning there are good deals to be found. Used EVs and plug-in hybrids also usually sell for less than their gasoline counterparts. One downside, however: these secondhand EVs and plug-ins are no longer eligible for the $7,500 tax credit, which is a one-time thing. But look at it like this: a used 2015 Nissan Leaf with just 5,500 miles on its clock can be had for just under $12,000, less than one-third of its original sticker price.

You Might Also Like
Can't Afford The 2019 BMW 8 Series? Here Are 8 Cheaper Super Coupes
Can't Afford The 2019 BMW 8 Series? Here Are 8 Cheaper Super Coupes
Why We Really Need Supercars
Why We Really Need Supercars

Heck, the battery is still under factory warranty until 2023. The first wave of leased Chevrolet Bolts will be coming off lease in 2020 and analysts told Bloomberg they’ll still be capable of achieving about 200 miles on a single charge. As for those early adapters, well, they’ll be turning in those Bolts for whatever comes next. Fortunately for them, GM is planning to have an all-new EV ready to go right around that time.

WatchThe Extraordinary Nissan GT-R50 Being Built By Hand

It’s all about bending sheet metal the old-fashioned way.

Here's How Aerodynamics Make The Lamborghini Aventador SVJ So Much Faster

Take a behind the scenes look at this amazing system.

Fake Lamborghini Murcielago SV Reverse-Engineered By Iran

The Chinese couldn’t have done it better.

Hennessey Trackhawk Is World's Quickest SUV

That's what a thousand horsepower will do for ya.

5 Things You Need To Know About The 2019 BMW X5

After driving the car for the first time, here are our key takeaways.

Watch The BMW M2 Competition Lap The Ring In 7:52

That was supercar territory not long ago.

Kim Jong-un Gets Classy With New Ride

So much for sanctions.

Drifting A 1,000-HP Corvette On Mountain Roads Takes Some Serious Skill

Thought drifting the entire Nurburgring was challenging? Try it in a 1,000-hp Corvette on a mountain road with no safety rails.

What's Hot

Related Cars

Starting MSRP
$33,220

Related Reviews

2017 Chevrolet Volt Review
Chevrolet Volt Hatchback
0
2017 Chevrolet Volt Review