[tom4416]

Hey I'm just going to throw this out there as another option - I know this is a Kia forum and all but the Tesla Model Y is $50k plus depending on where you live there may be government incentives plus you save a ton of money on fuel and don't really need maintenance (no oil changes and brakes last over 100k) other than tires which in the long-run makes it the same price if not cheaper. Just something to consider if you've ever thought about going the EV route. MY is a little smaller than the Sorento I believe though.

I wouldn't buy an electric vehicle from anyone at the moment. Toyota has made a major breakthrough in solid state battery technology where you'll get a 300 mile range and 10 minutes to fully recharge. Toyota is not alone in pursuing the technology, just looks like they might be first to market with it, citing 2025 for a model with the technology. It will make the current lithium battery technology obsolete and probably severely depress the used value of anything thus powered. The future for EV looks very bright and I suspect that before the end of this decade, more than half of what is on a new car lot with be pure EV.

 

[SoCalTiger13]

I wouldn't buy an electric vehicle from anyone at the moment. Toyota has made a major breakthrough in solid state battery technology where you'll get a 300 mile range and 10 minutes to fully recharge. Toyota is not alone in pursuing the technology, just looks like they might be first to market with it, citing 2025 for a model with the technology.

2025 is 4 years out though plus it will be very difficult to get your hands on one of those models the first year - just like when Tesla first launched, or the Prius or the RAV4 Prime.

OP is replacing their current vehicle soon (I'm guessing within the next few months), after just 3(?) years of ownership. In this scenario, I don't think it's unreasonable to get the best EV on the market today (any Tesla) and then 3-4 years from now when something better is available, switch to that. Financially, buying a $50k Model Y will still work out better on paper than buying a $40k ICE SUV over the course of the next 3-4 years. An ICE Sorento will depreciate faster than a Tesla in that same time frame. Plus, you can benefit from all the technology in the meantime - relatively quick acceleration, no oil changes and never having to go to a gas station again (if they are able to charge overnight in their garage) being among the satisfaction and QOL improvements.

One last thought - if OP only keeps their vehicles for a few years at a time, doing a lease would give them protection from any unforeseen sudden depreciation in the market if that is a real concern. If it really did suddenly depreciate in the next few years, OP could simply walk away from their lease at the end. If not, they have other options.

 

[gunrunnerjohn]

I'd have a Tesla if they had an SUV that was in the 50K or under range. The cheapest option being $75K and up is just too much money for a car for me.