Navigating EV Ownership: Andreas Jones on Rising Anxiety and Smart Investments

Andreas Jones is a recognized authority in personal finance and frugal living. As the founder of KindaFrugal.com, an online educational platform and blog, he has dedicated himself to helping individuals make informed financial decisions. He is also the author of Financial Dignity and the creator of the Well and Wealthy newsletter.

Thank you for joining us today, Andreas. Many EV owners are expressing growing concerns. Can you shed light on what’s driving this anxiety?

Andreas Jones: Thank you for having me! EV ownership is evolving rapidly, and with that comes uncertainty. A significant source of anxiety stems from charging infrastructure. While early adopters were willing to deal with limitations, mainstream consumers expect convenience, and the current infrastructure isn’t meeting those expectations. Another issue is resale value—many owners worry about depreciation, given how quickly technology advances. Finally, range anxiety still persists. Even with improvements, EV owners remain concerned about how realistic advertised ranges are under real-world conditions.

Beyond environmental benefits, many buyers consider EVs a smart financial investment. Do you believe they still are?

Andreas Jones: It depends on how you define “smart investment.” If we’re talking about fuel and maintenance savings, EVs still outperform traditional gas-powered vehicles over time. However, the upfront cost remains a hurdle for many buyers. The potential for long-term savings is there, but factors like battery longevity and replacement costs introduce uncertainty. Additionally, government incentives fluctuate, making timing an important consideration. A well-researched purchase can pay off, but buyers need to be realistic about both costs and benefits.

One of the biggest concerns is the charging network. How can consumers make informed decisions about this challenge?

Andreas Jones: Research is key. Before purchasing an EV, prospective owners should map out charging stations in their daily routes and consider home charging options. Having a Level 2 charger at home can alleviate much of the stress. Additionally, some automakers offer free charging credits at select networks, which can be a temporary solution. I also recommend looking into future infrastructure plans in your area. If expansion is planned, it could help address these concerns in the near future.

Depreciation is a major financial concern for any vehicle. What trends are you seeing with EV resale values?

Andreas Jones: EV depreciation has been a challenge, largely because battery technology is improving so quickly. A car bought today could be outdated in just a few years. Tesla has managed to hold value better than most brands, but many EVs are seeing significant depreciation, particularly as new models with longer ranges and faster charging times enter the market. One strategy is to buy a used EV with proven longevity or lease a new EV to mitigate the risk of rapid depreciation.

With so many uncertainties, what advice would you give to someone considering an EV purchase today?

Andreas Jones: I’d say approach it like any major financial decision—do your research, calculate total ownership costs, and consider your lifestyle. If you have reliable access to charging and plan to keep the car long enough to reap the savings, an EV can still be a great investment. However, if you frequently take long road trips or don’t have convenient charging access, a hybrid might be a more practical choice for now. The key is to assess how an EV fits into your daily life rather than just following market trends.

You can find me at www.WellandWealthy.org, www.KindaFrugal.com, and www.Instagram.com/kindafrugal.