A
anon_mlxxvlbug9dpa
Guest
Well I’ll say it: the Volts are ugly cars. That’s not helping them fly off the shelf.
Homies, is there a good thread on electric vehicles on the site? Thinking about buying one this year and would love some opinions.
- Thread starter Eppy99
- Start date
Compared to the Prius or other hybrids tho?
I actually don't mind the look but it's the tech that has me pulling towards it.
I've only had three cars my entire life (A turd brown Citation, a Nissan 240SX and my current car).
I tend to view cars from a frugal POV as long as they have heat, AC, a good stereo and doesn't nickle and dime me to death.
With the way I drive and as many miles as these electric hybrids are able to put on....this could easily be another 20 year vehicle.
I don't know that this would be a factor with @Eppy99 since he's got a lease, but today on Dave Ramsey was a guy who bought a car in 2019 and recently sold it for $10K more than he paid for it. Then he realized he was looking at a $10K capital gain. Maybe @stollcpa could weight in. Ramsey was speechless.
Note that this wasn't an antique or collector car, it was just plain old transportation.
Note that this wasn't an antique or collector car, it was just plain old transportation.
I'll bet that is never reported to the IRS so I'm not sure how many people would report that gain.
My thinking as well. Of course, Ramsey had to tell the guy he was going to have to declare it and pay up. I wonder how @stollcpa would handle this.
If a client tells me this my answer will be: “by the letter of the law the gain is a capital gain and must be reported. Most probably don’t report. Since you’ve told me, I am sorry but I can’t prepare your return this year if you choose not to report the income.”
Last edited:
I figured as much, you ol' stick-in-the-mud.
Surely you could at least throw in an "It's all Biden's fault, of course" jab.
(And before @hoot1 gets all wound up, that wasn't meant as an insult.)
Nope, I can post like a political hack but I try to operate my practice ethically.
I do delight in talking to clients about credits and deductions they aren’t eligible for because of their income. Many are shocked to find out the politicians consider them “rich” and ineligible for the credits and deductions.
Usually I don't listen to you A-holes, mostly because you're A-holes, but this time I will. I think I'm gonna hold off on buying an electric vehicle. First and foremost my car is the most likely vehicle our family will take even on short trips to Chicago or for camping. I think it makes more sense for my wife to have the electric car since she only uses it to commute to work and drive the kids around on the weekends. I'm not prepared to replace her Audi since she loves it and this will also give the electric infrastructure time to build out the charging network.
So with that said, I still think I'm prepared to take the profit from selling my lease. I reserve the right to change my mind if I don't see a new vehicle at the price I want to pay. I've been leasing cars for a long time though and you don't just ignore an opportunity to make this much money off a vehicle you would normally just hand back to the dealer. So I will do my due dilligence and see what can be purchased or leased.
So....if I do step down from the Honda Odyssey to a mid or larger SUV I'd love some opinions. We don't normally buy a luxury vehicle for myself, but I've had a good couple years and willing to spend a little more than normal. This car will still be used for hitting the road for softbball tournaments, the occasional short trip, camping 1-2 times per year, but mostly for driving around town everyday taking my kids to activities and school.
Shill me your favorite SUV's. Anyone driven a Genesis SUV? I may also check out the Kia Telluride. I don't see myself rolling in an escalade.
So with that said, I still think I'm prepared to take the profit from selling my lease. I reserve the right to change my mind if I don't see a new vehicle at the price I want to pay. I've been leasing cars for a long time though and you don't just ignore an opportunity to make this much money off a vehicle you would normally just hand back to the dealer. So I will do my due dilligence and see what can be purchased or leased.
So....if I do step down from the Honda Odyssey to a mid or larger SUV I'd love some opinions. We don't normally buy a luxury vehicle for myself, but I've had a good couple years and willing to spend a little more than normal. This car will still be used for hitting the road for softbball tournaments, the occasional short trip, camping 1-2 times per year, but mostly for driving around town everyday taking my kids to activities and school.
Shill me your favorite SUV's. Anyone driven a Genesis SUV? I may also check out the Kia Telluride. I don't see myself rolling in an escalade.
I can't really comment on which SUV, but you need to pump that camping number up. Those are rookie numbers.
My FIL spends about 10-15 minutes telling me how great the Telluride is every time I see him. He has enough money to buy two $100K SUVs but bought two Telluride's because he thinks they're a great deal.
With vanity plates that read: CRYPTOThis is you, man.
Holy crap.....guy from dealership just called me about the unsolicited appraisal they left for me on my window. Of course they want my Odyssey....what do they have for me if I want to buy a new car from them? That would be abbsolutely nothing. In fact they say I could continue driving my car while I wait 1-2 months for a car on back order. Seems I probably should have been thinking about this 6 months ago!
I’m open to exploring EVs but not just yet. And even now, I’d limit my search to cars and not larger people haulers. I’ve heard the Ford Mach E is a tremendous EV. It would be a great commuter car, but it sounds like you have different needs for your vehicle. I’d suggest looking at hybrids for now.
Unless someone has a long commute a plug-in hybrid would probably function as an EV 95% of the time. At this point the range/charging location/cost lines for pure EV's don't intersect for me.
Toyota is rumored to be gearing up to offer a battery warranty of 600,000 miles at greater than 70% initial battery capacity on all of their EVs by 2025.
Their testing indicates >90% battery capacity at 600,000 miles, with 95% of prototypes tested. The next 5 years are going to be interesting. I would jump on it if and when initial range exceeds 500 miles, if that level of warranty goes with it.
The minor catch is that the 600,000 mile warranty will likely require continuous servicing at a Toyota dealer/service center.
Their testing indicates >90% battery capacity at 600,000 miles, with 95% of prototypes tested. The next 5 years are going to be interesting. I would jump on it if and when initial range exceeds 500 miles, if that level of warranty goes with it.
The minor catch is that the 600,000 mile warranty will likely require continuous servicing at a Toyota dealer/service center.
