How Much Will an Electric Car Save You?

BluebirdV on 03/09/2021 - 13:44
Last edited 03/09/2021 - 19:05 by 1 other user

Hi guys,

I am curious how much an electric car will save in terms of servicing and maintenance costs? Assuming ownership over 15 years. I remember in the NRMA magazine they had a full breakdown of the cost of ownership of different cars with the cheapest around $100 a week to own over it's lifetime and the more expensive models around $500 a week over their lifetime. Also how much will it save of fuel costs? I guess this depends also on the state with some having a tax on electric vehicles.

Also, how far can we expect electric car prices to fall? There is a Chinese model expected to arrive next year for around $35,000. Over it's lifetime would it work out cheaper to own this car than a $15,000-$20,000 petrol model? Assuming petrol prices will go sky high when petrol cars are being phased out.

Automotive Electric Vehicle

Comments

  • sockpuppy on 03/09/2021 - 22:29
    +1

    If you want to save money, keep the car you have until it dies , then revive it and keep it even longer.

    If you want to have a car that is better in every way then test drive and then buy a Tesla. Electric cars are simply better. Fast, reliable, lower cost per/km, you can run them off the sunshine hitting your roof. If you live in ACT, NSW or Vic get the lowest cost Model 3 with the incentives, keep it 10~20 years.

    • Thinkscape on 04/09/2021 - 09:49

      Yes this ⬆️

  • Bristhrifty on 04/09/2021 - 07:20
    +3

    Everyone is assuming that when electric cars become cheaper than petrol cars that there will be a huge switch, leaving behind petrol cars. (Except maybe in the country/4wds). However, it worth remembering that petrol prices are not market driven, they are decided by OPEC and others who limit supply.

    If petrol demand starts bring impacted, OPEC will respond, lowering the price of petrol to retain usage and stop people switching on mass.

    It may be that there is a huge benefit coming to owners of petrol cars as electric cars become more popular.

    • tonyjzx on 04/01/2022 - 22:56

      yeah i wouldnt hold my breath

      i remember when people chucked a spaz when petrol went to $1… and then $1.20 and $1.33 and now $1.50

      wasnt it around $1.75 in 2008 with the gfc?

      this is like house prices… still waitnig for the fall

      what with rents going up and $1 mil. housees you think petrol is going to go down?

      unless ther's some catalclysm like ww3 i doubt we will see $1.20 again soon… i mean i hope people are right, i would love to see it but i would love to see $250,000 houses too

  • Myone888 on 04/09/2021 - 07:55
    -4

    EV cars have a big set back. That is the capacity of lithium ion batteries degrade from year to year. Failure rate of cells also very high. Thus this is biggest down side for me, couple with batteries labor and replacement cost. Not to mention lithium ion battery are highly inflammable.

    • Ade99 on 04/09/2021 - 08:29
      -3

      …plus the high environmental impact of the mining and processing of these minerals…….

    • Boogerman on 04/09/2021 - 08:37
      +3

      -Oil has to be extracted & processed into petrol/diesel
      -Petrol/diesel kill people with cancer
      -Petrol/diesel engine cars deteriorate at a faster rate than EV motors/batteries, such that they can lose more than half their power & range after 20 years (Top Gear did a show on this)
      - Petrol/diesel cars often catch fire independent of an accident & its orders of magnitude more prevalent than EVs (not sure on rates though)

    • Thinkscape on 04/09/2021 - 09:47
      +2

      Yeah, nah. More fud.
      - Li-Ion BEV are much less likely to catch fire than fossils (literally sitting on tank of liquid explosive, just Google it, heaps of studies and stats)
      - real-life degradation in Teslas is about 5% in first few years, less than 10% in first 250.000km (again Google, heaps of reports and data directly from
      - batteries are under warranty, usually 8 years.
      - pack replacement is extremely rare (even after 200.000km) and usually gets press coverage.
      - There are currently recalls in GM and Hyundai because of factory manufacturing defects, not related to the tech itself.
      - no such thing as “failure rate of cells is high”. It’s not a Makita.

  • Boogerman on 04/09/2021 - 08:32
    +2

    A US study found that a Tesla Model 3 Standard Range is cheaper than a Toyota Camry after 5 years, by factoring in rebates, depreciation, fuel, servicing, insurance, etc
    EDIT: Also a current Australian study found likewise (in fact the savings are huge)
    https://insideevs.com/features/521424/tesla-model3-camry-hyb…

    • TEER3X on 14/09/2021 - 09:34

      Not if you take the Camry savings and invest in Bitcoin.

  • Waltervp on 04/09/2021 - 08:58

    Is not so much a money factor. If it was much more expensive we wouldn't be doing it, but it's part of a global shift to get away from fossil fuels. The world economy will make sure they get their fair share of$$$ out of us and that will be market based, meaning they'll exploit us equally for either. Whatever the case at least we won't be polluting or running out of oil reserves and we shouldn't be causing more wars in the middle east, letting them fight their own wars and we can watch the injustices and suffering from abroad without interfering :( I'd love to step up for human rights and animal/ women and children suffering etc but the world is too big and too mean. Oil has been the prime motivator to get involved, before that communism, and probably next we will interfere militarily with Asia because of chip manufacturing dependence. …. who knows but the future is green Whether we like it or not and they will price us out of fossil fuels eventually.

  • Thinkscape on 04/09/2021 - 09:37
    +1

    48% of households in AU have solar on roof.
    Vast majority of EV owners charge at home.
    If you use grid you have super-off-peak rates to jump on.

    I don’t have solar so it’s usually like $5 for full battery (around 500km).
    The ROI will depend on how much you drive weekly.

    Don’t forget to include negligible maintenance costs (for Teslas usually just tire rotation, car wash, washer liquid, wiper blades).

    • Antikythera on 05/09/2021 - 13:37

      if people drive to work their EV isn't in their garage when the sun is hitting their solar panels. what is the cost of home batteries?

      • Thinkscape on 05/09/2021 - 15:52

        True. Some variables to take into account.
        Tesla powerwall 13.5kWh usable capacity is around $10-15k with installation depending on state and deal (subsidy). Brighte is a cheap way to finance it.

  • Kazzamc on 04/09/2021 - 10:24
    +2

    There is a very interesting Fb group called Electric Car for Australia. Lots of real life data is available.

    • Thinkscape on 05/09/2021 - 15:57
      +1

      Tesla Australia and Model 3 Australia are good on FB too.
      You’ll get real world data, experiences (good and bad) and recommendations.

  • OzHunterNSW on 04/09/2021 - 11:52
    -4

    An arm and a leg.
    Don't forget, someone has to pay for electricity.
    And once the battery goes - and they will, you are up for thousands and thousands and thousands to replace.

  • Lionmaru-G on 05/09/2021 - 12:57

    Government will tax you back from else where…. make up some bs tax for using the road

    • tonyjzx on 16/09/2021 - 11:23

      its already here

      came to $500 fee for 20,000km travelled per year as per Vic advice… and it seems to be about the same as other states who have implemented this

      what is more galling is that it seems to eventaully effect hybrids too!

  • Kamsi on 05/09/2021 - 13:46

    I've driven petrol and diesel cars but I would love to give a electric car ago but I don't think it ready yet, particularly the charging side… I'll wait till it ready.

    • Thinkscape on 05/09/2021 - 15:56
      +1

      From all the things, charging is actually sorted very well. 90% you’ll charge at home (for free if solar on roof), on road trips there’s heaps of fast charging networks esp. east coast there’s one every 50-100km. Fast charging on road trips is 100-200kW so usually the stops are around 20-40mins.
      I went on road trip NSW-VIC-SA through the rural areas and there’s NRMA there, and charging at accomodation from wall plugs (as last resort).

  • Kamsi on 05/09/2021 - 20:17

    so usually the stops are around 20-40mins.

    I'm not that patient waiting for the car to charge 20 to 40 Min on the hwy :)

    But I understand the electric car have come a long way and so far it very tempting but I think there still need to be further refined before I put my hard earn cash into it.

  • mini2 on 13/09/2021 - 09:16

    Will look into changing over when my cars becoming economically unviable to continue to maintain but as it stands, the running/servicing cost is still a whole heap less than whacking an EV on a lease where I own my cars outright.

  • Boogerman on 15/12/2021 - 11:22
    -8
    Merged from Extra Benefit of Owning an Electric Car

    If any internal combustion engine vehicle p*sses you off, you can report them to the EPA for excessive emissions
    Booyah!

    • MS Paint on 15/12/2021 - 11:23

      That makes sense. Cheers

    • pharkurnell on 15/12/2021 - 11:26
      +1

      Officially slowest news or bargain day of the century?

    • godofpizza on 15/12/2021 - 11:29
      +1

      It will be a combustion engine truck that will have to tow your car once it breakdown or runs out of charge.

    • SF3 on 15/12/2021 - 11:44
      -1

      wtf

    • djones145 on 15/12/2021 - 11:50

      I like hard tacos but also soft tacos

      what if u have a hybrid, do u have to report urself.

      dammmmmn

    • pegaxs on 15/12/2021 - 12:12
      +2

      I'm just glad they merged this down to a comment so now we can neg it.

      How about I ring the EPA about how much more pollutions it takes to manufacture an EV.

      Or the amount of methane let off from all the bullshit that EV fanbois spew forth?

      How about, instead of ringing the EPA and wasting their time with nonsense shit, you get to lobbying government to make changes to encourage EV uptake.

      • Boogerman on 15/12/2021 - 12:52
        -1

        This is road rage payback.
        Life has its little gifts.
        snigger

        • pegaxs on 15/12/2021 - 16:10

          You do realise that you can get in just as much shit for making false claims to the EPA about cars if you are found to be making consistent and erroneous or vexatious claims of people polluting and they are found not to be (There is a big warning while you are filling out the report that this is a possibility).

          What you are talking about is basically making false and misleading statements to a government body responsible for fining people, for which, if I stand corrected, is actually a criminal offence (Crimes Act NSW, 307B, your state may vary.)

      • [Deactivated] on 15/12/2021 - 17:15

        Nevermind all that (which are all valid points), what about the poor kiddies in the congo mining the cobalt for the battery packs, not getting any schooling, limited food, drinking dirty water, all so some zealot can claim their car is kind to the planet.

        • BluebirdV on 03/01/2022 - 12:28

          Source?

          • [Deactivated] on 03/01/2022 - 14:03

            @BluebirdV: the council of foreign relations and a story from The New Yorker
            Love the “emissions free and environmentally friendly” rhetoric.

            • tonyjzx on 05/01/2022 - 11:25

              @[Deactivated]: i get that but there's no good actors here

              do you think the global instability around oil extraction is ok? for the last half a century if not more

              further i wonder if you care about the amount of those rare earths going into your phones laptops and electronics?

              it suddenly hits your conscience when it goes into EVs but hey, we'll ignore the last 50yrs of transistor, computer devices…

              • [Deactivated] on 06/01/2022 - 12:15

                @tonyjzx: I don’t ignore it, but the global push to get out of fossil fuel vehicle in the next 3-5 years ramps up this production cycle infinitely. There is no sustained way of mining this for the millions of EVs the zealots want to push down our throats. The minimal amount in phone and laptop batteries I’ve used in my lifetime would probably take me 2km in an electric vehicle.

                • spackbace on 06/01/2022 - 12:42

                  @[Deactivated]: Considering the majority of lithium comes from Australia (WA to be exact), it's not a bad thing to be behind as it keeps all the jobs and money in the country

                  • [Deactivated] on 06/01/2022 - 13:58

                    @spackbace: Saving the world through increased consumption, something doesn’t add up there though.

  • jv on 15/12/2021 - 17:11
    -1

    How Much Will an Electric Car Save You?

    Will probably end up costing more in the long run.

    • gimli on 15/12/2021 - 20:34

      Cost you more negs?

  • Boogerman on 03/01/2022 - 10:00
    Merged from Tesla 88% Sales Growth for 2021, with 1.2M Production Run Rate

    https://electrek.co/2022/01/02/tesla-tsla-record-q4-2021-pro…

    For whom the oil death knell tolls
    At this rate (& considering the shrinking of VW & Toyota ICEV production) Tesla should become the greatest annual vehicle production manufacturer by the end of 2025

    • dcep on 03/01/2022 - 11:25

      VW will have the greatest EV sales and production by 2024 , surpassing Tesla

    • pegaxs on 03/01/2022 - 11:27
      +2

      *yawn*

      • Boogerman on 04/01/2022 - 07:55

        That's pretty much what the auto industry did while Tesla passed them by

    • spackbace on 04/01/2022 - 01:45

      Tesla should become the greatest annual vehicle production manufacturer by the end of 2025

      Lol…

      Considering Toyota had produced 7mil by the end of October, Tesla have a long way to go…

      • Boogerman on 04/01/2022 - 03:56

        It’s hard to grasp change when you’re invested in the status quo

        • spackbace on 04/01/2022 - 11:20
          +1

          It's hard to grasp reality when you're financially invested and drunk the cool-aid

          Sure, keep believing they have the manufacturing and sales processes to churn out an 88% increase year on year…

          • Boogerman on 04/01/2022 - 11:39

            @spackbace: Without having produced a brass tack out of the new factories in Germany or Texas yet, it’s worth noting sales jumped 140% in 2017 when they started making Model 3.
            But keep rocking the chair & yelling at clouds about Tesla being over valued

            • spackbace on 04/01/2022 - 13:05

              @Boogerman:

              & yelling at clouds about Tesla being over valued

              When?

              Gotta love when someone misquotes to detour an argument. Perfectly shows when they're losing

              • Boogerman on 04/01/2022 - 20:11

                @spackbace: Check out the share prices of a plethora battery mineral mining companies that have yet to supply a single grain of anything. Some are valued over $1B (eg: Sayona Mining). Why so high? Because investors know what’s coming.
                Why is Tesla more than 5 times the market value of Toyota & VW? Because investors know what’s coming.

                • Euphemistic on 04/01/2022 - 21:03

                  @Boogerman:

                  . Why so high? Because —investor know what’s coming.— speculators are playing with the market

                  • Boogerman on 05/01/2022 - 04:15

                    @Euphemistic: I guess speculators ‘played with the market’ when they assumed the motor car would supplant the horse & buggy

                • spackbace on 04/01/2022 - 21:24

                  @Boogerman: Ah so now you're onto the share prices as well, detouring away from any actual facts

                  Though of course it's self-serving for you to spruke Tesla shares, like your buddy

                  • Boogerman on 05/01/2022 - 04:11

                    @spackbace: News flash! Facts are based on the past, predictions are based on future.
                    Conservatives = fear of change, unimaginative, etc

                    • spackbace on 05/01/2022 - 10:16

                      @Boogerman:

                      Conservatives = fear of change, unimaginative, etc

                      And what's that got to do with anything? 😂 I love how you draw conclusions just to try to spin shit, without even knowing the other person's true thoughts

                      Well done champ, swing and a miss

                      • Boogerman on 06/01/2022 - 09:25

                        @spackbace: True. Can't know another's thoughts when there's not much there

      • rektrading on 04/01/2022 - 07:32

        The best thing with disruptors is they catching incumbents with their skirt down.

        Chip Shortage Makes Big Dent in Automakers’ U.S. Sales

        By Neal E. Boudette Published Oct. 1, 2021 Updated Oct. 27, 2021
        https://www.nytimes.com/2021/10/01/business/auto-sales-gm-ho…

        .

        Sep 22, 2021, 10:28am EDT
        Tesla Flexes Innovative Muscle By Manufacturing Own Chips During Supply Crunch
        Ariel Cohen Contributor
        https://www.forbes.com/sites/arielcohen/2021/09/22/tesla-fle…

        "Gradually, then suddenly" E.H

        • spackbace on 04/01/2022 - 11:17

          It's almost like chips for ~8mil cars would be more difficult to source than those for 1.2mil…

          Wow, shock

          • rektrading on 04/01/2022 - 11:28

            @spackbace: It's not shocking that the biggest automaker in the world didn't have a contingency plan. They probably thought they could wing it.

            Toyota to cut production 40% in October because of the chip shortage.
            By Neal E. Boudette Published Sept. 10, 2021 Updated Oct. 15, 2021

            Most automakers had forecast that the chip shortage would ease in the second half of this year. Yet, companies are still being forced to slow output and temporarily idle plants.
            https://www.nytimes.com/2021/09/10/business/toyota-productio…

            Too big to fail is how they all fall.

            • spackbace on 04/01/2022 - 13:04

              @rektrading:

              It's not shocking that the biggest automaker in the world didn't have a contingency plan.

              They did, and they survived longer than any other major manufacturer, and didn't need to sacrifice car features

              A 40% reduction is still a far greater production output than Tesla, sorry to break it to you. Hell, in 2020, Toyota North America alone sold more cars than Tesla in the whole of 2021 worldwide. For Toyota to make 1.2mil cars would've been easy

              And for production numbers:

              Outside Japan, North America is positioned as the largest source market for Toyota vehicles. Between April 2020 and March 2021, the assembly of Toyota vehicles in North America came to around 1.6 million units.

              • rektrading on 04/01/2022 - 14:27

                @spackbace: Of course, they sell more than TSLA. It's to be expected.

                1.2M and 1.6M are impressive numbers but the numbers that people should be looking at are the ones in the link.
                https://ibb.co/pdsgk52

                I wonder what they'll be at the end of 2022 or in 2025. 🤔

                • spackbace on 04/01/2022 - 15:07

                  @rektrading: When talking about sales numbers, why would I talk about share price?

                  • rektrading on 04/01/2022 - 15:17

                    @spackbace: Because both the sales and stonk price are going up to the right. That is how the market measure success.

                    Selling lots of units while the stonk price goes down to right is how the market measures failure.

                    The biggest automaker in the world is down -98% compared to the smallest doesn't look good. The price looks worse than dog, calamari, cumrocket meme coins.

                    • spackbace on 04/01/2022 - 15:22

                      @rektrading: Ah so share price movement is reflective of quality of the business…? Cool, Gamestop must be doing well

                      Again, everyone knows you own shares in Tesla, so frankly your comments on the brand mean SFA to anyone observing

                      • rektrading on 04/01/2022 - 15:23

                        @spackbace: GME is a meme. They're in good company.

                        I look at the chart and the chart doesn't lie. Anything that is down -98% isn't going to survive.

                        Who says I play with stonks?

  • rektrading on 03/01/2022 - 10:45

    Wait for TSLA to go sub $900, pick up a bag, wait for new ATH and sell above $1,300.

    It will get there as long as they keep delivering.

    • Boogerman on 04/01/2022 - 07:40

      I don't think it will happen as Musk has finished selling shares.
      TSLA up a whopping 13% to $1200 after the massive delivery beat
      Stock price falls boil down to how much is FSD baked into the price & what leeway the company is being given on constantly moving robotaxis back

      • rektrading on 04/01/2022 - 08:00

        Blackrock and their buds will take profits in Q1, let it drop, buy back at Q2 when it's cheaper and sell for EOY reporting.

        • Boogerman on 04/01/2022 - 08:06

          Thanks to the pandemic & the likes of Wall Street Bets, Main Street has a far greater influence on stocks now than Wall Street in the past

          • rektrading on 04/01/2022 - 08:12

            @Boogerman: Do normies really believe that?

            MM, funds and whales control the market. They always have and will for a long time to come.

            • Boogerman on 04/01/2022 - 08:33

              @rektrading: The shorters of GameStop learnt the hard way

              • rektrading on 04/01/2022 - 08:37

                @Boogerman: Yes, both sides got what they deserved.

                The dumb money made some gains while the smart money knows what to look for the next time someone tries it again.

                BTW most of the people that fell for the meme are still hodl their bags that they bought between $320 and $483. They aren't laughing now.

  • blueyez on 07/11/2022 - 22:40

    I've been using this site to compare costs:

    https://www.transport.nsw.gov.au/projects/electric-vehicles/…

    Am still on the fence - I want to get an electric car but don't see the benefit as yet to switch (driving a cheap runaround at the moment, could use salary packaging to get a better car)

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