I recently picked up a 2019 Hyundai Ioniq PHEV with 50K miles. The $4000 tax credit brought it down to $15.5k, which seemed like a good deal. I’ve got a 7-day return period with Carvana, so I’d appreciate any thoughts before I decide to keep it or not.
My situation:
I live in an apartment in a big city. They offer EV charging for $35/month plus $1 per hour (takes about 2 hours to charge fully). If I stay with the car while it charges, I don’t have to pay the $35. I’m going to ask if I can use my home charger plug instead.
There are also two free chargers nearby, one at a mall 0.4 miles away and another at my college about 1.5 miles away.
My work commute is about 20 miles round-trip, and grocery stores are all within 1–5 miles.
I’ve wanted an EV but needed something for longer trips too, so a Tesla was out of my budget. Even if I don’t charge every day, I feel like the PHEV should still save me money compared to my old 29-34 MPG car.
Question:
With my setup, does having a PHEV make sense financially and practically?
You got a great deal on a low-mileage PHEV, so that’s a win. You’re moving towards electric without breaking the bank. Charging at home is ideal, but for a PHEV, it’s not essential like it is with full EVs.
Think about the cost: $35/month plus about $40 in charging fees is $75 monthly. If that’s less than what you were spending on gas, it’s worth it. And you can still find some free charging spots around town at parks or libraries.
@zendaya
Thanks! I’ll check tomorrow if I can use the outlet for my home charger. If they say yes, that’d be a game-changer. Otherwise, I do think I’d still save a bit with the apartment fees. Appreciate the advice!
Are the free chargers near things you already do, or close enough to go there and back easily? If so, you should be good. Worst case, it’s still a hybrid, so you’re getting better mileage than a regular gas car. Don’t stress too much; there’s always a lot of noise online about EVs and hybrids.
@jessicah
Yes! The closest one is at the mall, just a 7-minute walk, so that’s probably the one I’ll use most. There’s also one on my college campus, plus one at a nearby grocery store. Definitely makes it seem more manageable.
With a PHEV, charging is more flexible. If you can find a regular outlet, that’s all you need. I charge my Pacifica on a 120V wall outlet, and it works fine.
If you don’t have a dedicated plug, you might not get as much benefit, but it’ll still help.
Charging sounds a bit inconvenient with your setup, and PHEVs really work best when they’re charged regularly (a regular home outlet would work just fine). If you could charge at work, that’d be ideal—most PHEV batteries can fill up over an average workday on a standard plug. Otherwise, you’re mostly just driving a hybrid with some added steps.
If the $4k tax credit made it cheaper than a non-plug-in hybrid, you’re still getting a good deal. Just plug it in when you can, and otherwise treat it like a regular hybrid. Who knows, maybe your situation changes in the future, and you’ll be able to make more use of the plug-in feature!
I used to have the same model. Ideally, you’ll want somewhere to charge it daily, like home or work. Otherwise, it can feel like a hassle. But for a PHEV, even a standard wall socket is fine—it’ll fully charge overnight.
I ended up setting mine to a slower charge rate, which took about 7 hours, so it was easy to top up overnight.
With a PHEV, you don’t actually have to charge at all if it’s inconvenient. If you can charge for free or cheaply, great! Otherwise, just drive it like a regular gas car and skip the charging.