Quote:
Originally Posted by Efthreeoh
So Interesting.
I ran the ICE vs. EV numbers between the Bolt and the Nissan Versa using Sedoy's MSRP for the Nissan (I didn't validate his number) and Chevy's MSRP for the bolt.
I do the calculations to 100,000 miles. I include $2,800 for ICE driveline and brake maintenance and assume all other maintenance costs are equal between ICE and EV (basically tires and repairs). I have EV maintenance to 100,000 miles at $0 since there is no combustion process to maintain (doesn't include a potential house fire and death to the occupants...). Fuel costs are 15 cents per kWh and $3.39 regular gas price (my local fuel costs). This time I added an estimated purchase price for an "out-the-door" price for both cars. My estimate is a 15% add based on my 2022 purchase of my Bronco, so both cars MSRP times 1.15. And of course subtracting the Fed Tax credit of (-$7,500) for the Bolt. The 115% estimated purchase price (above MSRP) includes the cost of a 5-year loan, dealer fees, taxes and registration costs (which vary by sate and purchase methodology).
The financial theory here is the price delta between the ICE and EV is the battery cost, which is usually thousands of dollars more for the EV; for example between an Accord and Model 3 its around $8,500, which I turn into "free ICE miles" after subtracting the ICE maintenance costs. Meaning the extra cost for the battery gives the ICE car an amount of free miles.
Doing the calcs for the Bolt vs. Versa and adding in the estimated purchase price (i.e. 115% of MSRP). The Bolt actually loses to 100,000 miles by $958.
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Again didn't buy an EV for the cost savings the same way I don't buy my ICE vehicles because of their MPG. If I was looking to save the most amount of money then I would just buy a used Corolla and drive it till the wheels fall off as they say. Too lazy to do that kind of math.
HOWEVER assuming all else was equal and I liked both cars equally... I would totally pay the extra $958 to never have to go to a gas station or deal with oil changes, brakes etc.