Simplifying the math, and $2 per litre gas (like in Vancouver), the electric car upgrade will nearly pay for itself in 10 years from how much you’re not buying in gas, which a modern car battery can last about that long even with regular usage.
Don’t forget you don’t need oil changes, you can charge at home so you don’t need to go out to get gas, you won’t need tune ups as often either because the parts are less complex.
It can pay for itself within a week if you get out a loan for the car because it’s cheaper to pay the interest on the loan than to pay for fuel. I did some calculations above using Australian data - short version is that a week of petrol is $124, vs a loan repayment of $98 per week plus around $10 on charging cost.
Yeah no worries, I can only make assumptions about your situation when I make my estimate, without knowing everything about stuff like where you live, and to keep the math easy for myself. And I don’t think everyone could or should obligate themselves as consumers to go out and buy a new car immediately. When you’re in the market to replace (ideally before you desperately need a car when your current one gives up the ghost), that’s when you can see a used EV as a better value proposition than a ICE equivalent, or a new EV vs. a new gas car or hybrid.
https://carcosts.caa.ca/ could give you a more representative value of the cost per year of BEV ownership in your province, and compare it to your own records of car expenses.
Simplifying the math, and $2 per litre gas (like in Vancouver), the electric car upgrade will nearly pay for itself in 10 years from how much you’re not buying in gas, which a modern car battery can last about that long even with regular usage.
Don’t forget you don’t need oil changes, you can charge at home so you don’t need to go out to get gas, you won’t need tune ups as often either because the parts are less complex.
It can pay for itself within a week if you get out a loan for the car because it’s cheaper to pay the interest on the loan than to pay for fuel. I did some calculations above using Australian data - short version is that a week of petrol is $124, vs a loan repayment of $98 per week plus around $10 on charging cost.
A week of petrol for me is <$50 CAD. I drive an economy car that I don’t own outright.
Also charging infrastructure isn’t ideal where I am. Can’t charge where I park at night.
Yeah no worries, I can only make assumptions about your situation when I make my estimate, without knowing everything about stuff like where you live, and to keep the math easy for myself. And I don’t think everyone could or should obligate themselves as consumers to go out and buy a new car immediately. When you’re in the market to replace (ideally before you desperately need a car when your current one gives up the ghost), that’s when you can see a used EV as a better value proposition than a ICE equivalent, or a new EV vs. a new gas car or hybrid.
https://carcosts.caa.ca/ could give you a more representative value of the cost per year of BEV ownership in your province, and compare it to your own records of car expenses.