Despite being a shareholder in Tesla stock since early 2018, I’ve held off on buying an electric vehicle. With limited funds, it always felt better to invest $50,000 in the stock for potential profit than spend $50,000 on a base-model Tesla car.
Besides, I had just bought a 2015 Range Rover Sport in December 2016 to transport our expected baby. My ideal length of time to own a car is about 10 years. Largely for safety reasons, changing cars every decade is my preference. Besides, car engineers usually come up with nicer creature comforts during this period as well.
However, with gasoline prices averaging more than $4 a gallon in the United States, getting an electric vehicle may finally be a good idea. My RR has a 27-gallon tank. Therefore, at $6 a gallon in San Francisco, it would cost $162 if I were crazy enough to drive until the last drop.
The deja vu thing is, I clearly remember spending $100 to fill up my tank in 2008-2009. Back then, I was driving an eight-year-old Land Rover Discovery II called Moose. He only got about 15 miles per gallon. The high prices didn’t last for long as a recession ensued.
The difference between 2008-2009 and today is that today most of us are much wealthier. We should be able to better take the cost hit, especially if you’ve been a long-time reader.
I know I’m a late adopter of the electric vehicle trend. However, let’s discuss why owning an electric vehicle may be worth it. I’ll then share what I plan to do about our vehicle plans.