All - I have 4 months remaining on my 2018 Clarity Touring lease and am considering my options. When I leased in June 2018, I put no money down and am paying $380/month. I also installed a ChargePoint 240V charge receptacle outside my garage. I have had 36M trouble-free miles with the Clarity (except for a dead battery that was replaced under warranty and quick wear-out of the Energy Saver tires that I replaced with Michelin CC+). For me, the Clarity is not my ideal car - I definitely would enjoy a better infotainment center, sunroof, and more power but have enjoyed driving the Clarity. So here are my options:
1.) Continue the Clarity lease for another 12 months or purchase off-lease for the $16.5M residual. Today re-sale value for Clarity Touring's in excellent condition is lower so unless I can somehow purchase off-lease cheaper is not a good financial option. Also, with minimal changes made to the Clarity, except for the benefit of a new HV battery and factory warranty coverage I don't see the benefit of leasing another one.
2.) I can lease a 2020 Accord Touring Hybrid for the same monthly cost but would need to come out of pocket $2M at inception. I test drove the Accord and like its amenities and Power. 2.) I also like the fact that I will be under warranty for another 36 months. However, the engine does drone under hard acceleration and I will give up the ability to drive 40-50 miles in Electric mode and temporarily stop using my ChargePoint...
Option 3 and 4 assume I drive the Clarity through lease expiration in June AND NJ will renew the Drive Electric incentive in Summer 2021.
3.) Purchase or Lease a RAV4 Prime XSE - I test drove one a few weeks ago and appreciated the amenities and Power missing in the Clarity Touring. I could have purchased it slightly under MSRP but even with the $7.5M tax credit, It still does not seem to me to be a good value. I am hoping supply ramps up to the 20M Toyota is forecasting for annual production by the summer and as other EVs and PHEVs are introduced that pricing will be more reasonable.
4.) Purchase or Lease a Tesla Model Y. - I also rented a Model Y Long Range on Turo late last year and enjoyed driving it. However, the Model Y ride is much firmer than all of the traditional cars above, and given build quality concerns, I would not buy one until Tesla can fully work out their production issues. I also still prefer AA and Apple Car Play and traditional switches and guauges over Tesla's one-screen infotainment. Finally, even with Tesla's extensive charging network in the Northeast, I still like the convenience of having a gas engine for backup when you are driving "off the grid".
I have really enjoyed following this forum and reading everyone's collective input so value your thoughts on the options I have outlined above. Thank you in advance.
1.) Continue the Clarity lease for another 12 months or purchase off-lease for the $16.5M residual. Today re-sale value for Clarity Touring's in excellent condition is lower so unless I can somehow purchase off-lease cheaper is not a good financial option. Also, with minimal changes made to the Clarity, except for the benefit of a new HV battery and factory warranty coverage I don't see the benefit of leasing another one.
2.) I can lease a 2020 Accord Touring Hybrid for the same monthly cost but would need to come out of pocket $2M at inception. I test drove the Accord and like its amenities and Power. 2.) I also like the fact that I will be under warranty for another 36 months. However, the engine does drone under hard acceleration and I will give up the ability to drive 40-50 miles in Electric mode and temporarily stop using my ChargePoint...
Option 3 and 4 assume I drive the Clarity through lease expiration in June AND NJ will renew the Drive Electric incentive in Summer 2021.
3.) Purchase or Lease a RAV4 Prime XSE - I test drove one a few weeks ago and appreciated the amenities and Power missing in the Clarity Touring. I could have purchased it slightly under MSRP but even with the $7.5M tax credit, It still does not seem to me to be a good value. I am hoping supply ramps up to the 20M Toyota is forecasting for annual production by the summer and as other EVs and PHEVs are introduced that pricing will be more reasonable.
4.) Purchase or Lease a Tesla Model Y. - I also rented a Model Y Long Range on Turo late last year and enjoyed driving it. However, the Model Y ride is much firmer than all of the traditional cars above, and given build quality concerns, I would not buy one until Tesla can fully work out their production issues. I also still prefer AA and Apple Car Play and traditional switches and guauges over Tesla's one-screen infotainment. Finally, even with Tesla's extensive charging network in the Northeast, I still like the convenience of having a gas engine for backup when you are driving "off the grid".
I have really enjoyed following this forum and reading everyone's collective input so value your thoughts on the options I have outlined above. Thank you in advance.