It’s 2024 and the automotive industry is in a weird place. The car-buying public finds itself at a moment of uncertainty, wondering if it should buy electric cars or gas cars or plug-in hybrids or regular hybrids or…hydrogen? When people ask me what they should buy, here’s what I tell them: If you plug in at home, consider a PHEV. If you can’t, buy a regular hybrid. Here, allow me to explain.
As a car journalist, I get asked the “What Car Should I Buy?” question all the time, and what I’ve come to learn is that oftentimes someone has a car in mind already, and they should probably just buy that. My brother, for example, kept asking me for car advice, and I gave him lots of options better than a white, rental-spec 2017 Hyundai Elantra, but he chose that anyway. He liked it. He thought it looked “sporty.” I respect that; if you have a car you like, you should probably buy that.
But some people don’t have a car in mind; they think with their brains, not their hearts. And many of those people are wondering: Should I buy an EV or a gas car? The answer that I’ve been giving lately? Neither.
Why I Wouldn’t Buy A Gas Car Today
My parents just bought a BMW X3 after their 2011 Equinox lost its timing chain and burned an entire tanker full of oil. The X3 is a great car by almost all measures, and yet, I did wince a little when they told me they bought it. It wasn’t a bad call, but I’d have gone with something electrified; I’d have hedged my bets.
My parents live in Germany, where fuel prices are absurdly high and volatile. Right now, the average gasoline price in Germany is $7.22 a gallon, but I wouldn’t be surprised if that figure climbs as the government pushes EVs into the market. Europe has been especially aggressive in pushing its transition towards electrification, and it makes sense. It’s a densely-populated continent that could see major health benefits for its citizens by moving pollution away from cities and towards rural powerplants. (Europe has been pushing solar and wind energy, too, which is great). A number of European cities have banned diesel cars and many have put tariffs on gas cars or outright banned them.
To drive a 24 MPG car like the BMW X3 for the next 13 years in Europe seems…difficult.
My parents are paying U.S. gas prices since my dad is a government employee (Uncle Sam subsidizes his gas while he lives abroad), and they will likely be moving back to the U.S. soon. Still, I’m not sure I’d want to buy a brand new 2024 car that only gets 24 MPG; maybe in certain states it’ll work out for 13 years, but fuel in California is already well over $5 a gallon, and I wouldn’t be surprised if that figure got jacked up in a push to electrify America’s fleet.
Plus, from an environmental standpoint, driving a 24 MPG car in 2024 all the way out to 2037 seems silly. We have the technology to move you much more efficiently.
Luckily, my parents don’t drive much, so this isn’t as big of a deal, but I’d just never buy a gas guzzler as a daily driver in 2024 when there are so many better options, not just for the environment, but for my pocketbook.
Why I Wouldn’t Buy An EV Today
With that said, I often find myself unable to recommend a new EV purchase, either, especially to those who cannot charge at home. My friend Jeb lives in Washington DC. He’s a true environmentalist who thinks gas cars are dumb in 2024. And yet he drives a gas Mini Cooper. Why? Because he can’t charge at home, and plugging in his EV at a charging station when so many of them are broken is just going to be stressful.
I know this because I tried charging my i3 yesterday, and received this fun error:
If this weren’t the 9 millionth time I’ve had such BS happen at a charging station then this wouldn’t be worth sharing. But EV chargers are notoriously unreliable, and if you rely on public chargers to get to work, since you don’t have a place to charge at home, then this will drive you nuts.
The bigger reason why I can’t recommend EVs is depreciation. My partner, Elise (not her real name), has been eyeing a Lexus RZ for a while. The thing MSRP’d at $54,000, but the one she likes costs around $60 grand.
You can find these things lightly — and I mean lightly — used for just $39 grand. That’s $21,000 in depreciation over, in the case of the Carmax car below, just 5,000 miles of driving!
Could you imagine how silly you’d feel if you’d bought this car for $60 grand and paid $21,000 to drive it for only 5,000 miles?
The Lexus RZ is a bit of an extreme case of New EV Depreciation, but it’s happening across brands and models. From Polestars to Hyundai Ioniq 5s to Volkswagen ID.4s — EVs are depreciating at alarming rates. To buy one new seems like a bad move right now.
You should, however, look into leasing one. I hate the idea of leasing, as you’re just borrowing a car and not building equity in it. But if you value newness, paying a little to borrow a car for two years isn’t bad, as you could just buy a severely-depreciated version of that car after those two years are over; you might end up paying less than if you bought the car outright. A lease should cost enough to cover that crazy depreciation, but there are deals to be had out there.
Why I Wouldn’t Buy A Plug-In Hybrid Today (If You Can’t Charge At Home)
As many of you likely know, I love plug-in hybrids, but recently I bought a second BMW i3S, booting my daily-driven regular-i3 from the garage (as you can see above, the two don’t fit back-to-back) where I used to charge it. Now I have no at-home charging for my daily-driven PHEV.
So you know what I do instead? I drive it on gasoline power only unless I can find charging at work. How do I feel when I’m driving this PHEV on gas power? Like a chump. Particularly because I’d be getting better fuel economy if I just bought…
… A Regular Hybrid
Seriously, the only smart new car purchase in 2024 if you don’t have at-home charging (if you have at-home charging, a plug-in hybrid is a good option, too) is a regular hybrid. My D.C.-based friend, Jeb, who has no at-home charging should buy a hybrid. If I didn’t plan to use my new BMW i3S as my daily commuter, I myself would be smart to replace my now-gas-propelled i3 with a regular hybrid.
You don’t have to worry about bullshit infrastructure issues like the bad EVgo charger I showed earlier or the malfunctioning Chargie app that left me in a bind yesterday (see above). You just park wherever you normally park, you get 40-50 MPG, and you don’t have to worry about serious depreciation. Heck, in some cases, your car might actually appreciate over the next year or so, as demand for certain hybrids has been through the roof.
Did I ever think that I’d only be able to recommend hybrids to people asking for car advice? Nope. But again, it’s a weird time in the auto industry.
I drove a Chevy Volt for 7 years, and fully expected its replacement to be an EV. Instead, it’s an Accord Hybrid.
Why? I needed something bigger for work, and I don’t like crossovers. There is no affordable PHEV that meets those criteria. There are a couple of EVs that fit the bill, like the Ioniq 6, but the charging infrastructure is not nearly as far along as I had hoped it would be by now when I bought that Volt in 2017.
I have to drive to smallish industrial towns for work on a semi-regular basis. The nearest Level 2 charger is 20 mi away from one I was just at, and I’d have to sit at it for hours. It’s just not practical. There needs to be destination charging at pretty much all hotels, and DCFC at places other than major interstates.
On the plus side, the EX-L trim of the Accord Hybrid is getting over 50 MPG combined, which pleasantly surprised me compared to the EPA ratings. The Volt only got 42 MPG on gas, so for long enough trips where the EV range of the Volt wasn’t a significant percentage of the total miles this Accord is an improvement.
I drove a Chevy Volt for 7 years, and fully expected its replacement to be an EV. Instead, it’s an Accord Hybrid.
Why? I needed something bigger for work, and I don’t like crossovers. There is no affordable PHEV that meets those criteria. There are a couple of EVs that fit the bill, like the Ioniq 6, but the charging infrastructure is not nearly as far along as I had hoped it would be by now when I bought that Volt in 2017.
I have to drive to smallish industrial towns for work on a semi-regular basis. The nearest Level 2 charger is 20 mi away from one I was just at, and I’d have to sit at it for hours. It’s just not practical. There needs to be destination charging at pretty much all hotels, and DCFC at places other than major interstates.
On the plus side, the EX-L trim of the Accord Hybrid is getting over 50 MPG combined, which pleasantly surprised me compared to the EPA ratings. The Volt only got 42 MPG on gas, so for long enough trips where the EV range of the Volt wasn’t a significant percentage of the total miles this Accord is an improvement.
Hybrids are a compromise, and an unnecessary one as long as you could charge a fully electric (BEV) at home.
Hybrids are a compromise, and an unnecessary one as long as you could charge a fully electric (BEV) at home.
Stop worrying so much about depreciation. If you don’t like it, a) don’t buy luxury brands and/or b) buy used.
It’s entirely reasonable that the value of an EV that has had rebates taken advantage of has that factored into the used value. Is that Lucid example extreme? Sure, but they’re an unproven company selling a halo product. If you’re buying a new model from a new company with the expectation of flipping it (or it appreciating), you’re delusional. If, however, you pay a price you can afford for a car you like, *it’s fine.*
Cars are by their nature depreciating assets. Everyone here knows that a car that is driven regularly will eventually need expensive repairs and non-mechanical parts like seats or trim pieces will age and wear. Cars that don’t get driven will still eventually need expensive repairs due to entropy.
If you’re treating your vehicle as an investment, that’s dumb and you shouldn’t. If depreciation means you can’t buy new cars frequently, that’s OK. Buy a car you like, enjoy the value that you consume, and then move it on when it’s at the end of it’s useful life, comforted in the knowledge that you got your money’s worth.
Stop worrying so much about depreciation. If you don’t like it, a) don’t buy luxury brands and/or b) buy used.
It’s entirely reasonable that the value of an EV that has had rebates taken advantage of has that factored into the used value. Is that Lucid example extreme? Sure, but they’re an unproven company selling a halo product. If you’re buying a new model from a new company with the expectation of flipping it (or it appreciating), you’re delusional. If, however, you pay a price you can afford for a car you like, *it’s fine.*
Cars are by their nature depreciating assets. Everyone here knows that a car that is driven regularly will eventually need expensive repairs and non-mechanical parts like seats or trim pieces will age and wear. Cars that don’t get driven will still eventually need expensive repairs due to entropy.
If you’re treating your vehicle as an investment, that’s dumb and you shouldn’t. If depreciation means you can’t buy new cars frequently, that’s OK. Buy a car you like, enjoy the value that you consume, and then move it on when it’s at the end of it’s useful life, comforted in the knowledge that you got your money’s worth.
Has this question been answered:
Why are used EVs priced so much lower than new ones?
I’ll try to help:
I.e., most of us do not want to pay 10% off new for a used EV. We (the market) prefer a 40% drop just to think about buying.
Also, are those prices post-rebate? Asking for a friend.
And the $7,500 tax credit…
Has this question been answered:
Why are used EVs priced so much lower than new ones?
I’ll try to help:
I.e., most of us do not want to pay 10% off new for a used EV. We (the market) prefer a 40% drop just to think about buying.
Also, are those prices post-rebate? Asking for a friend.
And the $7,500 tax credit…
I mean, you are writing an opinion piece, so by definition you can’t be incorrect.
But arguing PHEV’s are a bad option because you actually do have room to charge one in your garage and just choose not to do so?
I mean, you are writing an opinion piece, so by definition you can’t be incorrect.
But arguing PHEV’s are a bad option because you actually do have room to charge one in your garage and just choose not to do so?
I don’t comment much, but I’ll bite this time.
I am skeptical about the whole banning ice cars thing. Even Europeans*, bleeding hearts one and all, have just voted in people who will most likely stop or delay the green agenda.
It’s all fun and games in theory, but people need cars and the ‘government’ can try to take them away, or force them to buy EVs, but I wouldn’t be so sure of that governments ability to stay in power after basically screwing its constituents over.
‘The planet’, 2050 goals and everything else sound really nice, until you’ve priced most of your constituents out of a vehicle.
EV mandates are taxes on poor people.
*written by a European
As an EVangelist, I don’t agree with governments forcing decisions on people. EVs are great for most people, but it shouldn’t be a requirement. And certainly not until they’re much cheaper.
I don’t comment much, but I’ll bite this time.
I am skeptical about the whole banning ice cars thing. Even Europeans*, bleeding hearts one and all, have just voted in people who will most likely stop or delay the green agenda.
It’s all fun and games in theory, but people need cars and the ‘government’ can try to take them away, or force them to buy EVs, but I wouldn’t be so sure of that governments ability to stay in power after basically screwing its constituents over.
‘The planet’, 2050 goals and everything else sound really nice, until you’ve priced most of your constituents out of a vehicle.
EV mandates are taxes on poor people.
*written by a European
As an EVangelist, I don’t agree with governments forcing decisions on people. EVs are great for most people, but it shouldn’t be a requirement. And certainly not until they’re much cheaper.
This is the same argument I have made for years now. Especially in a state that has relatively average gasoline prices (87 at $3.29/gallon – $4.40 of 93 ouch) and high electric rates ($0.31/kwh). I have priced out and forecasted fuel use vs my roughly 28 mpg in my 87 octane fed Sonata N Line. I would save a few hundred dollars per year with my type of commute, and the environment I drive in vs a Tesla Model Y or Blazer EV, EV6, etc.
I drove a Sonata PHEV Limited for 4+ years before realizing there wasn’t a huge hit to the wallet to go to the more powerful and fun N Line. I know what the hit is in various weather and driving conditions, enough to extrapolate out the range hit to the average EV these days. I also know that given how expensive it is to fuel up with electrons, the cost savings just can’t justify the purchase alone.
As boring as it is, and they are less boring now than ever, the hybrid is the best – if you are looking at a commuter appliance or don’t want one of the other attributes offered by another type of vehicle available today. The Accord hybrid which does well on mpgs and can hit 60 in 6.5 seconds, and still has decent human space, is probably the best car for most. I almost went hybrid when I bought the PHEV, but the PHEV had a bigger discount at the time, plus federal tax credits available, that made it too hard to ignore. Now I don’t qualify for any rebates so unfortunately EVs are not my primary target anymore and leasing for me while driving ~ 23k miles per year is not an option.
This is the same argument I have made for years now. Especially in a state that has relatively average gasoline prices (87 at $3.29/gallon – $4.40 of 93 ouch) and high electric rates ($0.31/kwh). I have priced out and forecasted fuel use vs my roughly 28 mpg in my 87 octane fed Sonata N Line. I would save a few hundred dollars per year with my type of commute, and the environment I drive in vs a Tesla Model Y or Blazer EV, EV6, etc.
I drove a Sonata PHEV Limited for 4+ years before realizing there wasn’t a huge hit to the wallet to go to the more powerful and fun N Line. I know what the hit is in various weather and driving conditions, enough to extrapolate out the range hit to the average EV these days. I also know that given how expensive it is to fuel up with electrons, the cost savings just can’t justify the purchase alone.
As boring as it is, and they are less boring now than ever, the hybrid is the best – if you are looking at a commuter appliance or don’t want one of the other attributes offered by another type of vehicle available today. The Accord hybrid which does well on mpgs and can hit 60 in 6.5 seconds, and still has decent human space, is probably the best car for most. I almost went hybrid when I bought the PHEV, but the PHEV had a bigger discount at the time, plus federal tax credits available, that made it too hard to ignore. Now I don’t qualify for any rebates so unfortunately EVs are not my primary target anymore and leasing for me while driving ~ 23k miles per year is not an option.
2022 Escape PHEV. Have a 5 mile round trip commute, but live in a city the size of a small country and a state that requires 2 days to cross through. This, I wanted better cost per mile without sacrificing my flexibility to jump in and drive 180 miles to my brother’s house without looking for a ‘working’ charging station
One of the best purchases I have made because it fits so well as a commuter car and as a long distance hauler with the adaptive cruise it comes with.
Doesn’t mean I’m giving up my gasser 2012 5.0 F150 (weighing in at a tick over 3 tons) or my two project SUVs that see the fuel light after 200 miles.
However I firmly believe hybrid engine technology is at a point where, for most commuters, it should be in the running for your next DD.
2022 Escape PHEV. Have a 5 mile round trip commute, but live in a city the size of a small country and a state that requires 2 days to cross through. This, I wanted better cost per mile without sacrificing my flexibility to jump in and drive 180 miles to my brother’s house without looking for a ‘working’ charging station
One of the best purchases I have made because it fits so well as a commuter car and as a long distance hauler with the adaptive cruise it comes with.
Doesn’t mean I’m giving up my gasser 2012 5.0 F150 (weighing in at a tick over 3 tons) or my two project SUVs that see the fuel light after 200 miles.
However I firmly believe hybrid engine technology is at a point where, for most commuters, it should be in the running for your next DD.
“ But EV chargers are notoriously unreliable, and if you rely on public chargers to get to work, since you don’t have a place to charge at home, then this will drive you nuts.”
Well EV chargers that are NOT Tesla chargers are. And that’s why if I go with a BEV, it’s Tesla or nothing right now.
I was recently thinking of buying a Teslas as the price of used Model S vehicles are not much more than used Prii… but are so much cooler and have much better performance. What stopped me was when I got the insurance quotes… CAD$125/month for a 2021 Prius Prime vs CAD$300/month for a 2018 Tesla Model S.
With a cost difference of over CAD$2000/year, I decided I’m gonna hold off… get the plug-in hybrid now and then probably my next car is likely to be a BEV.
Also note that I CAN charge at home and if I limit my charging to 11pm and 7am, my electricity rate is 2.8 cents per kwh… and that’s 2.8 cents in Canadian funds. So home charging for me is just a sneeze away from being free.
“My partner, Elise (not her real name),”
OBVIOUSLY her real name is Esprit
“ But EV chargers are notoriously unreliable, and if you rely on public chargers to get to work, since you don’t have a place to charge at home, then this will drive you nuts.”
Well EV chargers that are NOT Tesla chargers are. And that’s why if I go with a BEV, it’s Tesla or nothing right now.
I was recently thinking of buying a Teslas as the price of used Model S vehicles are not much more than used Prii… but are so much cooler and have much better performance. What stopped me was when I got the insurance quotes… CAD$125/month for a 2021 Prius Prime vs CAD$300/month for a 2018 Tesla Model S.
With a cost difference of over CAD$2000/year, I decided I’m gonna hold off… get the plug-in hybrid now and then probably my next car is likely to be a BEV.
Also note that I CAN charge at home and if I limit my charging to 11pm and 7am, my electricity rate is 2.8 cents per kwh… and that’s 2.8 cents in Canadian funds. So home charging for me is just a sneeze away from being free.
“My partner, Elise (not her real name),”
OBVIOUSLY her real name is Esprit
I find it hilarious that 24 mpg is considered a “gas guzzler“ today!
More funny that the guy saying this used to daily a Jeep J10 Pick-up and Lexus LX 460 before drinking the California Kool-Aid. Not to mention, just wrote about how he was parking the i3s for the summer to enjoy the polluters while he can.
I did not have a commute in Michigan.
And yes, I’m enjoying my stickshift cars this summer…
Oh man, it’s hard when people change. Allowing them to grow and change means letting go of our expectations for them.
I loved the old David. I love the new Daivd too.
24 mpg has been considered a gas guzzler for quite a while now in places like the EU.
24mpg in 2024 is almost immoral given modern technology. Demand better
I find it hilarious that 24 mpg is considered a “gas guzzler“ today!
More funny that the guy saying this used to daily a Jeep J10 Pick-up and Lexus LX 460 before drinking the California Kool-Aid. Not to mention, just wrote about how he was parking the i3s for the summer to enjoy the polluters while he can.
I did not have a commute in Michigan.
And yes, I’m enjoying my stickshift cars this summer…
Oh man, it’s hard when people change. Allowing them to grow and change means letting go of our expectations for them.
I loved the old David. I love the new Daivd too.
24 mpg has been considered a gas guzzler for quite a while now in places like the EU.
24mpg in 2024 is almost immoral given modern technology. Demand better
I just picked up a 3 year old F150 Hybrid. Coming from a 2010 F150 V8. I tossed and turned over Lightning, Hybrid, Gas for many months. What I came up with was, I am an EV fan. It has its place but is not practical for my current needs. The hybrid gives me better fuel mileage without the penalty of trucks guzzling fuel. Why don’t I get a sedan? I’m 6’4” and nothing is comfortable but a full size truck or SUV. We have plenty of options (and opinions). Find what fits your needs.
I just picked up a 3 year old F150 Hybrid. Coming from a 2010 F150 V8. I tossed and turned over Lightning, Hybrid, Gas for many months. What I came up with was, I am an EV fan. It has its place but is not practical for my current needs. The hybrid gives me better fuel mileage without the penalty of trucks guzzling fuel. Why don’t I get a sedan? I’m 6’4” and nothing is comfortable but a full size truck or SUV. We have plenty of options (and opinions). Find what fits your needs.
New cars. LOL!
New cars. LOL!
Here is why I disagree. I drive my commuter car for a long time. My current is a 2011 Toyota Camry with 178,000 miles. I bought it in 2015 with 30K miles on it. There is no way I would spend 5K to replace the hybrid battery on car this old. If someone is the buy a new car every 5 years and only puts a modest amount of miles on it, sure, buy a hybrid. Most people should not be spending that much on transportation.