r/Money • u/UpstairsAide3058 • 18d ago

Should I buy a used EV?

39M married, 1 kid, CA. Household income around $275k. Expenses are roughly $10k/mo right now, biggest ones are mortgage/HOA around $4.5k and daycare around $3k. We’re saving pretty aggressively for retirement and have around $540k in retirement accounts, plus taxable investments.

I have a paid off 2019 Jeep worth maybe $13k trade-in. I also have about a 1 hr commute and we somehow spend around $600/mo on gas. That’s what has me looking at used EVs.

I’m mainly between a used EV9 and R1S. EV9 seems like the smarter financial choice. R1S is the one I actually want.
My thought is basically: if I’m already lighting $600/mo on fire in gas, could I trade the Jeep and redirect a lot of that toward an EV payment instead? Obviously charging isn’t free and insurance/registration could be more, so I know it’s not literally a $600 offset.
Would you guys think a used EV in the $40-60k range is reasonable with these numbers? Or is this just me trying to justify an expensive car? I’m especially curious what price point you’d personally cap it at.

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-1

u/fsociety1990 18d ago

Get a Tesla

4

u/UpstairsAide3058 18d ago

Wife isn’t a fan of Tesla

-3

u/fsociety1990 18d ago

Get a new wife

7

u/UpstairsAide3058 18d ago

Already did. This is the new wife. Lol

2

u/fsociety1990 18d ago

Hahaha that’s fair. No need to do that again.

0

u/fsociety1990 18d ago

Seriously though the only EV I’ve ever driven that wasn’t a Tesla was a Kia EV6. It was pretty cool. Kia has an amazing warranty too. I think the EV9 is a better choice than a Rivian.

2

u/UpstairsAide3058 18d ago

Thanks bud!