fooljoe said:
... so I expect it would actually cost more to lease [the oil burner Rav4] than the [Rav4] EV.
Yes, I've pencilled out many times how the Rav4 EV is cheaper to own in 5 years than the oil version. The fact that there are no oil changes and no gasoline to purchase is HUGE.
The $51,000 Rav4 EV is reduced in net cost by a $7500 federal tax CREDIT (not deduction... $7500 off your tax bill when you file IRS form 8936 with your taxes), plus in California (the only place this is sold), there is a $2500 rebate that is mailed to you within a few weeks after you apply.
In addition, some local utilities, governments, regions, etc, offer money for the purchase of an EV. At a minimum, you can reduce the cost by $10,000 ($2500 + $7500). As of February 2014, Toyota has an additional $2500 discount for a purchase. The current lease offer is HUGE, with $16,500 off (includes your $7500 federal tax credit), with unlimited miles offered. You are still eligible for the California $2500 rebate. Any Toyota discounts are only available in California since Oct 1, 2013 to comply with getting three CARB-ZEV credits per vehicle.
Because it is a zero emission vehicle, it is eligible for a California High Occupancy Vehicle (HOV) lane sticker in white. Hybrids like Prius and Volt get green which will likely run out in summer 2014. With that, you can drive solo in the HOV lane.
The total cost of any EV compared to a gas burner is as follows for 100,000 miles of operation (assuming each is worthless at the end):
------------ Rav4 EV ---- Rav4 V6 oil burner
Sales Price- $51,000 ----$26,000
Fuel cost ---$ 3,000 -----$18,000
Oil changes -------------- $ 300
Smog Check---------------$ 100
Maintenance $ 1300 -----$ 1900
Subtotals -- $55,300 ---- $46,300
Tax breaks -(10,000) ---- $ ------
Net costs ---$45,300 ---- $46,300
Never go to a gas station, no oil changes, no smog checks, no camshaft belts, no spark plugs, no transmission or cooling system flushes, almost maintenance free.... rotate tires, check windshield washer fluid.
Zero vehicle emissions, quiet, smooth, powerful.
Since you could easily drive 100,000 miles in 3 years on an unlimited mileage lease, here's that comparison with a $500 per month / zero down lease / unlimited miles. Lease "sales price" is $500 multiplied by 36 months:
-------------- Rav4 EV --- Rav4 EV ---- Rav4 V6 oil burner
--------------- lease ----- purchase ---- purchase
Sales Price- $18,000 --- $51,000 ----$26,000
Fuel cost ---$ 3,000 ---- $ 3,000 -----$18,000
Oil changes ---------------------------- $ 300
Smog Check----------------------------$ 100
Maintenance $1300 ----- $ 1300 -----$ 1900
Subtotals -- $22,300 --- $55,300 --- $46,300
Tax breaks - (2500) ---- (10,000) --- $ 0
Feb discount - N/A ------ (2,500) ---- $ 0
Net costs -- $19,800 --- $42,800 --- $46,300
*************************************
Equity ----- $ 0 --------- $15,000 ---- $ 8,000
New Battery - N/A ----- (36,000) ---- $ 0
Net equity - $ N/A ----- (21,000) ---- $ 8,000
There isn't any commercially available way to make the Rav4 EV go 200 miles. However, if you're driving 100 miles each way to work AND you can fully charge at work, the current unlimited mileage lease is unbeatable.
Why don't you tell us exactly what town you're going from and to, and if you can get charged at the destination.
Yes, there are quality issues, but if you're within California, they should get addressed. If you're out-of-state, good luck.
Read this thread for the current sales offer:
http://www.myrav4ev.com/forum/viewtopic.php?f=3&t=210
