Trade GX460 For Electric Car?
Posted by gargen_state@reddit | askcarguys | View on Reddit | 20 comments
we have a 2018 GX460, just shy of 100k miles. it is our family hauler most of the time. we use it for road trips, taken it to the mountains for skiing a few times. But with the gas price spike we haven't been driving it much. my daily driver gets a lot better mpg.
Truck is paid off. I had a carvana offer a whole back for $24k. Guessing I could get that or a little better for trade in.
Just started looking online yesterday, as it's the first time I've had the thought. Looking at something like a Kia EV9. I have seen a couple Lyriq priced not too bad. Goal would be to have a car payment and increase in electric bill that is less than what we spend on gas. We fill up at least once a week.
An EV would give me some pause trying to take to Telluride. but that is only once or twice a year.
Am I crazy?
Acceptable-Room985@reddit
Math wont math. Keep the GX.
Sea-Property-5977@reddit
You’re crazy, find a cheap EV lease if you want one so bad and keep the GX for road trips!
Gunk_Olgidar@reddit
Research "ICCU Failures" before buying a recent or new Kia/Hyundai EV.
jskis23@reddit
No payment and gas is gonna still be cheaper than a 600-900 a month payment. Add EV insurance costs…keep the GX
gargen_state@reddit (OP)
Truck is completely paid off. Been looking at stuff in the $30k price range. So not brand new.
RicoViking9000@reddit
i did the math myself for my own 10 year old ford fusion sedan (paid off, of course). using my march driving stats of 1248mi at avg 23.2mpg, and with gas prices near me (VHCOL) having gone from 2.60 to 3.89, i’d be paying $215 per month on gas instead of $140. that’s an increase of $75. even if i buy a used EV for just $20k, the monthly payments would exceed that + the offset from charging, even with my cars value of ~7k. my car costs me basically nothing to maintain too.
there are many reasons to buy an EV and trade in a working car, but you can’t justify the money aspect with rising gas prices. it’s not a matter of financials. if you want an EV, do it, but you’d need to spend enough to not downgrade from a lexus.
abductee92@reddit
Still more expensive than gas and that gx has plenty of life in it.
onemasterball@reddit
I have a similar gx as a family hauler and I think you're nuts for considering a downgrade like that over gasoline
Weekly_Ad7944@reddit
Not crazy, but you'd want to look at the charging infrastructure for the routes and places you'd want to go vs. the range for your vehicle.
TheCarcissist@reddit
Check the Honda Prologue, I got a lease at like $140 a month and they recently just dropped the price. At that payment you can keep both
Rough_Cancel7265@reddit
There are so many variables in this equation. Using the national average of gas, filling your tank completely 4 times a month is about $375. I have seen one pay Lyriq leases that work out around $300 a month. But if we're talking about financing? I don't see a world where that's a reality.
Ashamed_Corgi_3693@reddit
I'd keep that GX over any electric vehicle.
mpgomatic@reddit
Keep the GX460, swap the daily driver for suitable and affordable used EV that can provide electricity to the home if/when the goes out?
PlanetExcellent@reddit
I would not trade what is surely one of the most ideal long term vehicles there is.
Disastrous-Group3390@reddit
If it’s a spare vehicle you don’t have to drive, I’d say keep the bulletproof, low depreciation, paid off Lexus. You’ll lose more in depreciation on a new EV, especially a Kia/Hyundai, than you’ll ever save by not buying temporarily expensive gas to go in it when you choose to drive it.
Gas price spikes are ALWAYS short lived. Happened half a dozen times since ‘73 and people always panic and make dumb decisions like it’s permanent. I’ve seen get rid of paid off reliable guzzlers: All sorts of musclecars and land yachts for Vegas, Plymouth Arrows and the like, ‘76 Olds 98 Regency for a diesel Rabbit, Suburban for a financed Equinox, Grand Marquis for a Passat, Trailblazer for a Spark…people trading predictable fuel costs for payments, phantom savings and flimsy technology.
jrileyy229@reddit
"Goal would be to have a car payment and increase in electric bill that is less than what we spend on gas. We fill up at least once a week."
You need to put and numbers around that. Sounds like you haven't been driving the gx, so I'm confused as to how you fill up once a week.
Even filling the gx once a week at say $100... Adds up to only $400 a month.
You're going to be hard pressed to cover increased electricity usage and a car payment in that overlap... Not to mention that when you buy and sell a car through dealers as most do, you lose a little money on both sides of the equation.
Just for easy math, assume buying a 35k EV and selling the GX costs you about 4k in total equity.... That loss can fuel the GX for an entire year. So you've got a long uphill battle to find any financial gain
mattSER@reddit
If Mach-E is big enough for your family, they are proving to be super reliable and a great used value.
Also, Nissan Ariya seems to be extremely solid and very affordable used.
Foot-Note@reddit
We have a GMC Terrain and a Chevy Bolt. I love having an electric car. Its the daily driver and does what I need it to do.
I would not get rid of a SUV for a second car though. They are tools. If you have a daily driver then use it. Only use the SUV when you need it. You are going to hate not having the capabilities of an SUV when you need it (even if its rare)
No reason to get a payment. Now if your wealthy and money isn't an issue go for it.
Ok-Translator-7718@reddit
Ev from Kia and Hyundai have a tons of recalls
Daniele323@reddit
I sure as hell wouldn’t trade a paid off reliable vehicle for a possible crapshoot of an EV like a Kia or Lyriq. Especially in the current economy.