Hey everyone,
My current situation:
I currently drive a 2021 Toyota C-HR Hybrid with 107,000 km (66,500 miles) which i bought in June for 18 000. It's been a really good car, and I have no real complaints about it.
However, I still have around €10,000 left on my car loan, with monthly payments of approximately €220 for the next four years.
The Hyundai I'm considering:
I found a used 2017 Hyundai Ioniq Electric Premium for €13,999, with only 51,164 km (31,800 miles) on the odometer.
Here are its main specifications:
First registered in August 2017
28 kWh battery
88 kW (120 hp) electric motor
Automatic transmission
Premium trim
Heated seats (and apparently ventilated seats as well)
Blind spot monitoring
Front parking sensors
Built-in navigation
Lane departure warning
Apple CarPlay
...
Sold by a professional dealer in Belgium
A few things make it appealing to me:
it's cheaper than my current Toyota
Being fully electric, it could significantly reduce my running costs.
It seems to offer more comfort features than my C-HR.
It has considerably lower mileage, although it's obviously an older vehicle.
I live in Belgium and I'm also self-employed on the side, meaning I could potentially deduct a percentage of the vehicle's business-related expenses for tax purposes.
My driving habits:
I mostly drive around Brussels, so the majority of my trips are relatively short city drives.
Once or twice a week, I travel from Brussels to Namur, which is approximately 120 km (75 miles) round trip.
I also have the possibility of charging at home, although not necessarily every day. It would most likely be through a regular household outlet.
I know the 28 kWh Ioniq doesn't have a particularly large battery, but I've heard it's an extremely efficient EV, so I'm wondering whether its limited range would actually be an issue for my driving habits.
Here are my main concerns:
Reliability: How reliable is the original 28 kWh Hyundai Ioniq Electric compared to a Toyota C-HR Hybrid? Toyota has a fantastic reputation for reliability, and that's probably my biggest hesitation about switching.
Battery health: Considering the Hyundai is already around 9 years old, should I be worried about battery degradation even with relatively low mileage? Would you consider a State of Health (SOH) report essential before buying?
Financial sense: Would switching actually save me money in the long run, considering I still have an outstanding loan on my Toyota? I'd obviously have to account for selling my current car and paying off the remaining loan.
Depreciation: Do you think this older Ioniq will lose value significantly faster than my Toyota, especially considering how quickly EV technology and battery ranges are improving?
Real-world range: Would the 28 kWh Ioniq comfortably handle my driving habits, especially the 120 km round trips during winter, with heating on and some motorway driving?
Long-term ownership: Are there any common problems with this particular generation of Ioniq Electric that I should know about? How expensive are repairs and maintenance compared to a Toyota hybrid?
Ultimately, I'm trying to figure out whether selling my C-HR and switching to this Ioniq would be a smart financial decision, or whether I'd be better off keeping my Toyota for several more years.
I'm not looking to change cars just for the sake of it. I genuinely want to know if this could be a sensible long-term decision, especially considering the lower running costs, potential tax advantages, and the fact that the Hyundai is relatively inexpensive.
Thanks in advance and feel free to ask if you need any more clarifications !!