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A second M3?

A second M3?

Hello Peeps, We do have a 2018 RWD M3 with FSD which the wife took over, and a Honda Civic on Lease which is set to expire this month. Pre-ordered a Model Y AWD 7 seater due 2021. Question is, Is it wiser to buy a M3 SR+ now and sell of my 2018 M3 as I get my Y in 2021, or is it wiser to buy out my Civic after the Lease and sell it off in 2021.

Lonestar10_1999 | 09. marraskuu 2019

Here in Pennsylvania public charging stations are more scarce than in California. I knew when I traded in my Prius for the SR+ that taking road trips would need more planning and have less spontaneity.

For instance, when I visit friends and family in New York, I know I can take a route that will enable me to recharge along the way but the duration of the trip is longer with the SR+ than if I drove an ICE. This is why I always take my wife’s Camry for longer trips.

For you it may make sense to have both household cars as BEV depending on availability of recharging stations. For me, I prefer one BEV and one ICE due to my personal range anxiety.

bjrosen | 09. marraskuu 2019

Are you asking about the best financial decision or about your happiness. If it's a happiness question then buy another Model 3. If it's a wallet question then you need to look at the cost of the buyout on your Civic vs buying a used EV. EVs have the worst depreciation of any vehicles, the Model S and X bucked that trend for a while but they were sold in low numbers, by 2021there will be a million Model 3s on the road so I suspect that the depreciation will be pretty terrible. The other side of the depreciation coin is what's bad for the seller of a used car is good for the buyer. The wisest financial choice would be to buy a used EV. Used Volts are cheap and used Chevy Spark EVs are even cheaper. I have a colleague who picked up a low mileage Spark for $7K, he's getting over 7 mile per KWh and it's plenty perky, he's very happy with it. The Spark only has 80 miles of range so it's strictly for short commutes. I own a 2017 Volt as well as a Tesla. You might be able to pick up a used Volt for about $15K. I get around 70 miles of EV range in my Volt in warm weather, it drops to it's EPA rating for 53 miles in colder weather and less than that if I use the heater on battery (when it's really cold I just use the engine because ICE heat is free). It's a very peppy car, it's quiet, and it's a hatchback so it's good for shopping. It's not a Model 3 but for local driving it's a true EV and it can go anywhere because of it's range extender, I get about 45MPG when I use the gas engine.

vmulla | 09. marraskuu 2019

How much do you expect to loose if/when you buy and sell the Civic?

Wilber | 09. marraskuu 2019

I disagree with bjrosen about depreciation of EVs. I would agree as far as Leafs and other shorter range EVs are concerned. After a few years, the Leaf or similar, the latest version has been upgraded to a longer range. But Teslas have been the exception since they have at 200 mile range and they have superchargers.

vmulla | 09. marraskuu 2019

Ok. Since OP didn’t provide any new info:

Get the SR+ now.

Just think if you’d buy your civic in 2 yrs time. You can easily sell your lr rwd 3 for a decent price in 2 yrs, the civic - not so much.

EAPme | 09. marraskuu 2019

Check your lease agreement for "Residual Value" cost and if there is a dispo or purchase fee. Use the RV and purchase fee (if there is one) to determine if the cost is what you think it ought to be at lease end.

Might be the easy first step to help qualify/disqualify the Civic.

kevin_rf | 09. marraskuu 2019

I would say, if it's cost effective, go with the Civic and keep it until you are ready to buy the Model Y.

I nursed my 2005 Prius with 400k miles over the finish line while waiting for the Model 3. Just kept the Prius around, the kiddo is now using it to commute to and from college each day. She's put 4000 miles on it since September.... Clearly taking the scenic route each day. That was not the original plan, but much easier than her figuring out the whole car thing on her own.

A car coming off lease has a ton of life left in it. I would keep it until you are ready for the Model Y.

Btw. If I had to choose between keeping an SR+ and a MR, I would keep the MR and sell the SR+, even though it's a year newer.

gballant4570 | 10. marraskuu 2019

Don't invest in an asset that is soon to be stranded. That being said, how long will that stranding take? No one knows with sufficient granularity when compared to the short life of the value of an ICE to determine if your particular asset would be stranded during the time you either own it, or during the time that it actually maintains any value.

In your particular case, would taking the course you want to take introduce a less acceptable financial condition, one that crosses your own acceptability line? Likely not, or you would have already chosen without asking. So I would say make the choice you want to make. If you need to convince your significant other, you probably know how to push that person's buttons better than people here do.....

Do what you want today, and cross the Model Y bridge when it arrives.

JAD | 10. marraskuu 2019

When you get in an accident, do you want to be in the 3 or a Civic?

jebinc | 10. marraskuu 2019

-@kevin_rf

I concur. Of course, we didn't run any numbers, but philosophically, I agree the OP should hang onto the fun Civic and M3 until the Y they so desire arrives.

DuckDuckEv | 17. marraskuu 2019

Sorry for the late response peeps, Upon some research and inputs, I feel like waiting until 2021 with the Civic and move on to the Y keeping the current 3.

kevin_rf | 18. marraskuu 2019

+1