Should I wait for better EV tech before buying?

Seeking Advice
1

We love our Bolt EUV, but it’s feeling a bit small for road trips, and the slow DC fast charging is frustrating.

We’re thinking of trading in our second car, a 10+ year old gas hatchback, and looking into a used ID.4 or possibly a new Equinox EV. The old ICE car is only worth around $5K now, and I’m worried about it breaking down and forcing us to buy something in a hurry.

If we wait, EV tech keeps getting better. For example, the ID.4 Pro gains 10 miles of range and 20 kW of DC charging speed each year. On the other hand, I could trade in the old car now while it still has some value, and wait until the end of the year for deals when dealerships are trying to hit their sales numbers.

What do you all think: trade now and live with last year’s tech for 10 years, or wait and hope for something better?

2

There’s already better tech than what you have right now. But if you’re always waiting for something better, you’ll never stop waiting.

3

jabali said:
There’s already better tech than what you have right now. But if you’re always waiting for something better, you’ll never stop waiting.

Exactly. My dad used to say that next year would be better. He’s still driving a 2001 car and has a TV from 2004. It’s fine to be mindful of the environment, but getting something new once a decade wouldn’t hurt!

4

jabali said:
There’s already better tech than what you have right now. But if you’re always waiting for something better, you’ll never stop waiting.

This sounds like people waiting for the next PC hardware update. You’ll just keep waiting for the next big thing… forever!

5

jabali said:
There’s already better tech than what you have right now. But if you’re always waiting for something better, you’ll never stop waiting.

That’s not always true. Some things, like hybrid sedans, haven’t really changed much in the last 10 years. And then there was the Covid price spike.

6

jabali said:
There’s already better tech than what you have right now. But if you’re always waiting for something better, you’ll never stop waiting.

True, but things move fast. New features and updates roll out every couple of years, and prices keep dropping. I was hesitant to get an EV too, but I took the plunge last year. Just keep in mind that depreciation is real. I got a 2023 ID.4 Pro RWD for a good deal because of the 2024 refresh.

7

jabali said:
There’s already better tech than what you have right now. But if you’re always waiting for something better, you’ll never stop waiting.

You could always go for a hybrid or plug-in hybrid. You get some EV benefits without all the hassle, and you have way more vehicle choices!

8

There’s some cool battery tech coming, but it’s still at least four years away. My advice: save money, drive the ICE until it dies, and by then, EVs will be more affordable and better.