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Would You Buy or Lease an Electric Vehicle? | Electric Vehicles

The results are in on EnergyDSM’s first online poll.  Thank you to all those who voted!  We received a modest 39 votes, and here are the results:

After the $7,500 federal tax credit, which electric vehicle option is most attractive to you?

  • Coda Yowsa for $37,400 (2%, 1 Votes)
  • Nissan LEAF for $25,300 (41%, 26 Votes)
  • Chevy Volt for $33,500 (25%, 16 Votes)
  • None of these are attractive options (32%, 20 Votes)

Total Voters: 63


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One out of 39 voters thought the Coda Yowsa was the most attractive electric vehicle option (if you are out there, please comment on why you made this choice).  In an interesting comment, Charlie provides insight into why Coda’s electric vehicle may have trouble competing:

“I was initially excited about the Coda. I read their website, perused the marketing jargon … and then I got to the technical specifications and pricing. This car is astonishingly over-priced.

The car, however green and well-intended, will compete with Civic and Prius – and yes, the new Chevy Cruze despite its gas-only powerplant – and it will lose miserably. $37,400 net would buy you TWO of the Cruze models. Sure, that’s a lot more gasoline & carbon but at double the price, “green” just isn’t as pretty a color as it should be.”

In general, respondents thought that the Nissan Leaf and Chevy Volt were equally attractive.  However, the largest proportion of respondents (36%) thought that none of the three vehicles were attractive options.

Consumers are apprehensive about purchasing these electric vehicles because they are untested in the market.  The batteries may not be reliable and better technology may be coming down the line.  For these reasons, leasing will be a more attractive option for some electric vehicle enthusiasts.

In an interesting twist in the pricing saga leading up to the release of these electric vehicles, General Motors has aggressively priced the lease of the Chevy Volt.  Although the Volt costs about $8,000 more than the Nissan Leaf, the lease price will be approximately the same.  To lease the Volt for 3 years, it will cost you $350 per month with a $2,500 down payment.  The lease deal for the Leaf is the same except with a $1,999 down payment.

Will the lease option change which electric vehicle consumers prefer?  You decide:

After considering the lease options, which electric vehicle option is most attractive to you?

  • Buy Nissan Leaf for $25,300 (22%, 11 Votes)
  • Lease Nissan Leaf for $349 per month with a $1,999 down payment (12%, 6 Votes)
  • Buy Chevy Volt for $33,500 (6%, 3 Votes)
  • Lease Chevy Volt for $350 per month with a $2,500 down payment (25%, 13 Votes)
  • None of these are attractive options (35%, 18 Votes)

Total Voters: 51


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