Post by cadman on Aug 3, 2024 8:13:06 GMT -5
Regarding a misinformation about electric vehicles: Tires wear is simply because people abuse the abundant torque. That is all, no different than any hotrod. EV insurance isn't any more than ICE. I have one, it isn't expensive. This misinformation gets you views, but doesn't help anyone. - Tom Asher Torque News reader.
Stolen from someone who knows.
www.nada.org/nada/nada-headlines/beyond-sticker-price-cost-ownership-evs-v-ice-vehicles
As usual you are full of shit.
I clicked on the KBB link that your link provided. It went to luxury cars and said Tesla was the cheapest to own.
Your NADA link did not appear to adjust costs of ownership based on price equality. An $80,000 car will cost more over 5 years than a $40,000 car. While reading your link several issues popped up. One was Depreciation, which your link had as $43,515 for an EV and $27,883 for an ICE car. It also had the cost of financing was listed higher for the EV. Demonstrating that the new cost value of the EV being compared to the ICE vehicle was higher. There is no reason financing would be any different between the cars.
For insurance, i went to other sources, since it was apparent your link did not use comparably priced vehicles and found an EV can cost between $300 and $500 a year more or $1500 t0 $2500 over the five year ownership for similarly priced vehicles.
Not really a fair comparison. To be fair, you would need to pick similar vehicles and retail values and see which one was cheaper over 5 years.
Looking at your link and just using cost of fuel, insurance, maintenance, and repairs, EVs are slightly cheaper due to fuel savings. While EVs were cheaper in fuel costs by $5000, and about even on repairs and maintenance for the 5 year period, insurance is higher by $2500 or so. It would appear, if we chose two cars or equal value, the EV would be slightly cheaper over the 5 year period, but not significantly.
As far as long term cost of ownership, I think it depends on how long you keep the vehicle. For a consumer who drives locally and gets a new car every 3 to 5 years, an EV would make a lot of sense. For those who keep their vehicles forever and may take longer trips or tow, an ICE vehicle would make more sense. For a lot of families, having one of each seems to be a solution right now.