Hidden Expenses When Owning an Electric Car You NEED to know about
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- เผยแพร่เมื่อ 3 มิ.ย. 2024
- Hidden Expenses When Owning an Electric Car You NEED to know about
Hello, and welcome back to our channel, where we delve into the world of cars! Today, we're venturing into the realm of electric vehicles, uncovering hidden expenses that manufacturers might not disclose. This is insider information from experienced EV owners you won't find anywhere else.
If you are thinking of buying an electric car, this is a must-watch! Electric vehicles offer many benefits, from lower operating costs and environmental friendliness to energy independence and a smooth driving experience.
But before you make the switch, it's essential to understand the potential hidden expenses that come with owning an EV, and no one is talking about it.
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What is your experience regarding the costs of driving electric? Would you recommend owning an electric car? Let us know in the comments below.
I've had one for 7 years. I have solar, so the levelized cost (over 25 years) of electricity is about 6¢/kWh so about 1.5¢/mi. Or if you want to calculate it from the cross over point and since it's generated more electricity than it costs, the electricity is free for as long as the system lasts (it still has 16 years on its warranty). I already had a 240v outlet in my garage and got a EVSE for free. I've paid for charging 3 times in that time. I replaced the tires once and added windshield washer fluid. That's it. I drive less than 40 miles a day, so I could have just continued to use the included 120v charge cord. Oh, I also changed the cabin filter twice. Strangely, the windshield washer blades are still streak free after all this time. So in total after 7 years it's about $45 + tires. My registration isn't more, in fact my yearly inspection is less since there's no emission testing. My insurance is strangely $7 less than my older gas car that I put fewer miles on. My EV weighs 300 lbs more than it's gas equivalent. Not significant at all in registration fees. Shorter tire life span is certainly a thing, at least for your first set. But once you get the silent 0-60s yahoos out, my second set of tires are wearing normally. Based on the current wear rate, we'll get about 60,000 miles.
In the UK gasoline prices are very different. There is fuel tax, value added tax, and value added tax on the fuel tax. As a result, UK gas prices are about 2.5 times US gas prices (allowing for a US gallon being smaller than an imperial gallon).
In the long term the UK Government will have to find an alternative way to tax EVs to make up for this difference. Also, massive investment will have to be made in the electricity infrastructure, which I don't think is being addressed adequately yet.
holy cow 400 bucks for each tire? that would be the best All terrain pick tire price, and to be replaced that soon is insane.
You can get regular tires as long as they match the weight rating and size. I have a $600 set of 4 snow tires that I got new from Amazon. The only thing is they are rated to only 113mph, so no drag racing in the snow for me.
Also they don't wear out faster than other vehicles, actually less than my F150, because the Weight of EVs isn't as high anymore. Most of the cost is for the special foam deadening and the speed rating. Nice to have, but totally optional.
lmao. Alright let's go through this list.
1. Charging is possible with a standard wall outlet. Nothing more is strictly needed. I did this for years at my old house without issue. At my new house I did decide to install a dryer outlet to allow for faster charging. I was able to install this myself (though I am comfortable with minor electrical work) and the hardware was $50 at most (a new breaker, cable, and an outlet and box). Professional installation definitely depends on the location but most installations can be done for ~$200
2. Battery degradation is a thing that happens, and I do think the rate of 1-2% per year is pretty accurate. I'm 6 years (80k miles) into my tesla and am at about 7% degradation. All EVs have advanced charge management systems that keep cells healthy and protect against damage. With those systems active, battery packs can be expected to last upwards of 200k miles, about the same as a gas engine. Ask how much an engine rebuild costs. :)
3. This one is just nonsense. EVs have far fewer moving parts, making them far cheaper to maintain. In the 6 years I've been driving an EV, I have had to replace one panel on the undercarriage (which was my fault) and cost about $200. I'm still on the original brakes, and everything else has held up great despite my driving. :) I'm not counting tires yet, since that's its own category. Shop waiting lists I guess could happen somewhere, but I have yet to meet any EV owners anywhere around the world that have had this problem.
4. This was true of insurance companies 10 years ago. Consumer EVs have been around for more than a decade now. They have the safety data and as a result, have lowered the rates for EVs.
5. There are no automakers that are requiring a "subscription" for software updates. One thing that IS happening is that cars are now asking to connect to your home wifi to allow them to download the update data without using cell data. There are "upgrades" that can be purchased through the infotainment systems, but those upgrades involve scheduling service for hardware changes.
6. Resale value of EVs is significantly higher than traditional cars, namely due to the used market not being saturated yet.
7. Higher registration fees are something I've seen. And the reason of "covering gas tax" is plausible.
8. Tire lifespan has honestly been about the same as my previous cars.
Things I have not had to do since switching: Go to any gas station, ever. You don't realize how nice this is until you experience it. No oil changes. No brake maintenance (the motor does 90% of all braking, so brake pads last 150k miles).
Same on all counts, except I'd say the motor does 95% of my breaking. The higher registration usually exceeds the gas tax typically and the gas tax is mostly BS to begin with as heavy trucks are actually the vehicles doing most of the damage to the roads. Passenger vehicles will never compare to 18 wheelers with 80,000LBs GVW. If there should be a "gas tax" it should be on diesel almost exclusively.
You compared EV battery work to ICE Engine work. EV battery is equivalent to ICE gas tank which does not shrink over time and I know of no one that had to repair or replace his gas tank. If you do have to replace it, it does not cost anywhere near replacing a battery pack. Granted, EV motors theoretically should be more reliable and less complicated than ICE Engines. However, the 20 year old truck I got rid of to get my EV had the original engine and the original gas tank and was in great running condition when I sold it. I will be surprised if my original EV battery works in 20 years. Battery tech still has a long way to go with safety, reliability and energy density.
All that said, I doubt I will ever go back to ICE. EVs will only get better and cheaper (If we let Chinese in).
@@Tooradj Gas engines get scoring, warping, and stress fractures over time, especially high performance ones. It is fair to compare an EV battery to the gas engine because while the battery degrades gradually, so does the efficiency and performance of the engine. You will never have as tight tolerances in an engine as you did the day it was new unless you do a complete re-build, bore out and put new piston sleeves in and fresh pistons to go with it. Even then you'll need to re-surface it and when thats done you lost some of the displacement. An EV battery 10 years from now will be better, and likely much cheaper than it is today, so a replacement is an upgrade and the old battery can be ground up to make new batteries which is a process that Redwood Materials returns 99% of the raw material from.
I don't trust chinese EVs yet, but I do believe they should be allowed to sell to the US market.
@@user-fl4pi2ut9c Some fair points in there. The reason I compared gas tank with batteries is that they both are source of energy as electric motor and ICE engine job is converting that energy to kinetic energy (motion). Regarding replacing your battery with a better/cheaper one in 10 years, it is theoretically possible and I hope economically feasible as well but keep in mind some of those packs (at least mine) come with their own BMS in each module which talks with other modules. In case of Tesla, it is more all in one kinda deal but in both cases, the new battery needs to interface with something else that may be proprietary. The right to repair movement in U.S. is a bit too slow and laws to push manufacturers to make that easy for us is not quite there yet. Third party shops that are few and smart enough to do it have realized they can’t do it for cheap. I am hoping as we have more EVs on the road that changes.
I do believe EVs are the way to go. Just saying they would be much more amazing when they have had as much time as ICE to mature.
It costed me $50 for a Nema 14-50 outlet, breaker, and wiring in my garage. The box and outlet were $5 from habitat for humanity. Alternatively, I only drive on average 40 miles a day, so the 120v outlet probably would have been fine.
Insurance cost is basically not true. My premium didn't change at all because my Model Y was about the same as my Grand Cherokee I traded for it.
The battery degradation is basically non-existant in more than half of EVs because most Tesla's and more of other brands are switching to LFP cells which have between 6000 and 8000 cycles. In theory those figures should have over 1 million miles before replacement. But most Tesla's existing Li Ion should last over 400k miles, and by the time you replace them, the cost will be much lower than it is today, just like it's lower today than it was 10 years ago.
Only Tesla, Rivian, and to some extent Ford, are able to do OTA software updates. None of those companies have ever charged for that feature. Further, premium connectivity is optional in all of them and you can just use your phone as a hotspot instead. Tesla's internet connection only costs $8/mo making it cheaper than paying my carrier to allow hotspots on my phone. I would assume plans with rivian and ford are similar.
The tire wear thing is true... except for Teslas. Teslas traction control is insane and won't allow burnouts or slip unless you put the car in drift-mode. But If you have a lucid or hummer EV, expect to hear squealing. I've been to the track and those are great, very fast, and cool vehicles... but the owners tell me how bad the slip is and that they need to be perfectly lined up or they could easily lose control and traction.
For folks that don't feel comfortable doing electrical work, the outlet can cost $700-$1200
Battery degradation is not as much of a concern as battery failure after warranty. For Tesla's, even failure during warranty can be bad as well since your entire pack will be replaced with a used pack. If you bought your Tesla yesterday and it failed today, you are guaranteed to get an older battery. If your battery fails after warranty is expired, you spend $15K+ for a used battery that has only 1 year warranty. So as of now owning an EV that is older than 8 years is a crap shoot and you may have to total it if the battery fails.
Tire wear is not just about acceleration and burnouts. When you decelerate, even when you don't skid, stopping a heavier vehicle takes more rubber off. When you you are on a ramp or twisty mountain roads, that extra weight does take away more from edge of your tire. However all of that impact can be reduced with granny driving habits.
All that said, I don't think I will ever go back to ICE.
Most EVs don't need brakes serviced nearly as much.
There is a Model S in Germany with 600,000 miles and the breaks are basically un-used. Soo, I'm thinking breaks outlive the cars themselves at this point.
That will just save $20 a year
@@shashankdegloorkar LOL $20 is $20
@@shashankdegloorkar I'll put that $20/ year on top of my 4 un-needed oil changes, my non-existant lead acid 12v (also lithium and also lasts the life of the car) and of course my total fuel cost of about 1 cent per mile pair with my roof top solar which I cost out to it's warranty period.
My 500HP hatch back is cheaper to own than a prius.
@@user-fl4pi2ut9c Let me know how it goes in 10 years when you need a new battery
2k+ every 10k miles on the tires , according to the charge stats i only save 1k usd vs having a Honda civic so i spent 2.8k already gas would be 3.9k
I put on 21k miles last year on our Y and the vast majority was solar powered home charging at an amortized rate of 4c/kwh over the payoff period for the solar. In other words, 1c/mile for 17,000 miles costed me $170 and the remaining 4000 costed me $1100 Lol.
When you have solar, supercharging seems so expensive by comparison.
How much do owners spend on charging? Is it that low compared to regular fuel?
Very much so, I bought a used 2017 bolt at the beginning of the pandemic before the prices went insane. I have already saved more money than I spent, that includes cost of electricity, a regularly scheduled (once every 5 years) coolant flush, a set of tires and a 12 volt battery. This was coming from a 2003 Toyota Corolla.
I just completed a 5 week 10,000 mile road trip in my EV (a 2018 tesla) going through 30 states and provinces. Doing the most expensive option of only using superchargers, I paid just under half what I would have paid using a similar sized sedan and the national gas average. I could have reduced that further by making more use of destination chargers at hotels and such. In the 6 years I've had the car, I've spent almost nothing on maintenance, compared to all the gas cars I've owned previously. Even with the higher sticker price, I've probably saved $10k or more.
Combined with my rooftop solar, and costed out over the warranty period, it's less than $0.01/mile. So about 85% of my charging is practically free. Another 5% is literally free, because I charge at work and the library on occasion, and then the last 10% is a bit cheaper than gas at 28c/kw at super chargers, but I road trip mostly at night because it saves up to 40% Which is about $150 to florida and back. (I live in Iowa)
It's insane that my family car has 500HP and even factoring sticker price should be cheaper than a Prius after just 5 years. Tesla knows how to make cheap, reliable, and high performance cars.
My Lightning costs significantly more than our outback on long road trips if we use only DCFC. $0.25/mile for Lightning and $0.11 for Subaru. However home charging that has been 90% of my use costs me $0.9/mile for the Lightning. Considering they are different size vehicles and when you travel, you fully charge at home and you may get free charging at hotels, overall unless you are exclusively fast charging, energy should not be the reason not to get an EV. In Hawaii even with home charging, things would be different ($0.22/Mile for Lightning and $0.15/Mile for Subaru) but in most states ICE of the same class just can't beat EV.
When paired with my solar and costing out the solar over the pay-off period, it's about 1c/mile. A prius getting optimistically 50MPG costs more sticker price than a base Tesla Model 3, cost 6c/mile. So for me it's 6x cheaper than the best gas cars have to offer, and a prius... is a fairly unpleasant car to drive. Even the prius prime feels like a toy. Hybrids are more expensive to maintain than gas cars also, because they cycle the battery every single drive thus approach end of life at 50-70k miles. A pure EV cycles it's battery about 1/week so over 400k miles easily.
Pure FUD.
Thanks Toyota for your propaganda