Think you can’t afford an EV? Think again [View all]

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http://grist.org/news/think-you-cant-afford-an-ev-think-again/

By Claire Thompson
22 Jul 2013 11:41 PM



It’s easy to see the electric car as a symbol of the kind of offbeat elitism often associated with eco-conscious living — the rich man’s veggie oil-powered VW bus, if you will. But that could change as the industry starts going Model T on EVs, making them more affordable for the masses. Automakers are now offering an array of discount leases and perks that, when combined with government tax incentives, make EV ownership accessible for a much broader segment of the population.

Owning an electric vehicle automatically slashes drivers’ fuel costs by as much as 80 percent. But it’s the up-front cash that presents a barrier to most prospective buyers, not to mention the lack of widespread charging infrastructure. Of course, growing ranks of EV drivers would spur the construction of more charging stations and attract still more electric converts. But with so few choices on the market, none of them wildly affordable, it’s hard to get that cycle started.

Until now. The Wall Street Journal reports:

Bronson Beisel, 46, says he was looking last fall for an alternative to driving his gas-guzzling Ford Expedition sport utility around suburban Atlanta, when he saw a discounted lease offer for an all-electric Nissan Leaf. With $1,000 down, Mr. Beisel says he got a two-year lease for total out-of-pocket payments of $7,009, a deal that reflects a $7,500 federal tax credit.

As a resident of Georgia, Mr. Beisel is also eligible for a $5,000 subsidy from the state government. Now, he says, his out-of-pocket costs for 24 months in the Leaf are just over $2,000. Factor in the $200 a month he reckons he isn’t paying for gasoline to fill up his hulking SUV, and Mr. Beisel says “suddenly the car puts $2,000 in my pocket.”

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