Used BMW X5 or Tesla Model Y
I’ve been driving a used car many years and considering getting a new one. Given: I live in NJ and my electricity bill is pretty low around 15 cents per kWh. There’s a lot of incentives if you buy an electric car in NJ as well, e.g no sales tax, $7,500 in tax credit, etc. My daily commute is 5 mins drive to the train station. My wife and I go grocery shopping and explore different restaurants weekly. It takes no more than 50 miles at most round trip. I’m considering getting either a PHEV or Tesla Model Y. Option1: New or relative new BMW X5 I’ve been driving a crapy car for years and really want to get a nice car. I don’t want to have much debt, thus I’ll pay cash instead of leasing or financing. Option2: Lease Model Y long range The leasing costs around $350 per month. The 3 year treasury is currently at 4.8%. Thus, 85K treasury can completely cover the lease. Treasury can be sold in secondary market. Thus I can have some liquidity if I really want that 85K back. Please let me know what you think. Please comment if you think BMW x5 is the better option as I think my plan for Model Y is literally 0 maintenance. TC: 450K
Used BMW? Nah. Just lease a new X5.
I’m so surprised BMW X5 is taking the lead. Any reasons? My plan for Model Y is literally almost 0 maintenance.
You will get hit on the depreciation though. X5 depreciation is not low but still predictable and mostly reasonable. Electric car depreciations could get crazy when Chinese EVs enter the market.
Well I’m leasing and will return the car in 3 years. Depreciation is really not a concern if I decide to buy Model Y
No sales tax is huge. How are you able to qualify for tax credit with your TC?
Buy Model Y. BMW is leading in your poll because everyone here hates Musk. I bought a Model Y and I am happy with it. Better to buy a next gen EV as opposed to ICE from Nazi era car company.
The model Y lease is not 350 a month. Untick the savings part and go to lease details and include tax and registration fees. It’s more like 5-600 a month. Honestly they are not comparable cars. X5 is larger with far better comfort and ride quality. Model Y at most compares with an X3 or X1. You might want to consider X3 which is a lot cheaper and more comparable car to model Y.
X5 is considerably bigger than model Y as well, maybe also think about if you want a car of that size. An X3 is a logical comparison with model Y
Strange choice. The choice should be between X5 or Model X. You’re doing Apple and orange comparison.
Tesla Y with FSD!!
Get x5 hybrid
Test drive both. Tesla is a step change. BMW will feel more familiar if coming from ICE car
I’ve tried both several times traveling. I like both.
BMW will cost more to maintain. Otherwise both fine options can’t go wrong