You May Not Save Money by Driving an EV
CNET,Technology,News,Tech,science
It all depends on a handful of personal factors you need to consider before you make the plunge to buy your first electric car, hoping to laugh at gas stations. It may not work out that way.
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0:00 Intro
0:26 Buying an EV
1:47 Depreciation
3:22 The Battery
4:51 Daily Costs
7:15 Close
#Save #Money #Driving
I find this to be a very biased or misinformed article. Why are you comparing a regular car manufacture to a luxury car manufacture. How about doing an Apples to Apples comparison. Does CNET have something against Tesla? How about UNBIASED reporting.
Hi Buddy
I’m here in the UK, if you use your head, you can buy a secondhand EV, just as I did, 10,000 miles on the clock for £13,000, great for around town, people here aren’t really buying new cars, because the Government are banning ICE vehicles in the future, so won’t get their monies worth out of an ICE.
So my advice, get a secondhand EV to test the water & start to understand your needs, then choose another vehicle that suits you & your personal use ..
As for the difference in charging, choose the cheapest provider, because others are greedy & set higher rates .. enough said.
Drive safe my US cousins & breath cleaner air. Your choice changes your child’s future 😉🇬🇧✌🏻🇺🇸
not blowing exhaust into pedestrian faces is kinda nice
you could get a nice ebike for a max of 10 grand and almost no maintenance. hopefully biking around you can be done
When the ICV are lawn ornaments and relics …how’s that for depreciation? Further, our budgets pale in comparison to the issue that we actually want a tolerable climate left for our children and grandchildren!
EV fans are freaking out over this vid. Love how he is just stating facts and ppl can’t handle the truth.
You save thousands on maintenance with a ev. It’s still cheaper than a gas car.
There’s a lot of “well, sorta” here, but your final summary is reasonable: “It depends.”
In my case, I can charge at home at ~13c per KWh. Our Prius Prime (plug-in hybrid), even when gas was $2.20/ gallon cost about 40% less per mile than driving it on gas (in town — it doesn’t go very far on battery out on the highway).
For me though, the main thing that makes me drive on electric as much as possible is not the economics as much as that EVs are, more responsive, quieter, and lower-maintenance.
Frankly, driving on gas has gotten to fell just plain disgusting for me! Eeew!
most EVs come with a ten year battery warranty though
You don’t ever break even with a stinking ice car. Plenty electric cars are priced well now. The Tesla is great. All car depreciate no car is a good asset.
Broadly speaking, while he did not address some facts like some comments are pointing out, unless you can readily afford it. Like that buying a new car isn’t something you sweat. You’re better off buying an ice. They are just less expensive in the long run even factoring gas, and basic maintenance (oil, coolant etc) the cheapest working beater will be cheaper than the the cheapest old ev. Ev batteries are just too expensive
It looks like most of the people commenting here are already sold on the idea of EV ownership. Great for them! But if you read the head statement “It all depends on a handful of personal factors you need to consider before you make the plunge to buy your first electric car, hoping to laugh at gas stations. It may not work out that way.” Yep, if you live in downtown “crazyville”, you’ve done the math on your cost to debt ratio and you factor in the “Joy” value then an EV works for you. But not everyone lives in your world. The infrastructure still isn’t there in the rural areas regardless if you charge at home and still have to travel long distances. And let’s not forget in some states (mostly California) there are rolling blackouts during the summer that can last for days. You can’t move your house just so you can charge overnight but you can find a gas station just a couple of miles away that still has power to pump. Bottom line, again, “It all depends on a handful of personal factors you need to consider before you make the plunge to buy your first electric car, hoping to laugh at gas stations. It may not work out that way.” Good Video and very informative!
Not to mention theres lots of EV’s that are cost roughly the same or are actually more affordable than their gas counterparts. Such as the Nissan Leaf, Chevy Bolt, and of course the Aptera which starts at just 26k AND is the most efficient electric vehicle ever designed. Production starts in December 2022.
Also $12 to fill your EV, sure, maybe if you’re only using public charging. the vast majority of EV owners just charge at home. This can save you a ton of money especially if you charge during off peak hours, or already have a home outfitted with solar panels.
I worry about my 18kw car battery not being available after 10 years. I am driving a Toyota RAV4 prime which is a plug-in hybrid. Toyota said they give a 10 year warranty on the battery. The battery gives me 50 miles and the gas tank gives me 450 miles. All the grocery stores, parks, and movie theaters are nearby so 90% of the time I only use batter and do not burn any gas. If I go for a long drive then once the battery runs out it switches to hybrid and I get 39 miles per gallon. If I have to drive from state to state which is going to be 75 miles then 50 mi goes on the battery and the rest 25 miles and goes on the gas. And since it’s 39 miles per gallon I end up not even burning a full gallon of gas. The best part is I’m getting 40 solar panels for my house so charging the car is not going to cost me anything. My second worry is sometimes the gas in my tank sits there for 6 months since I don’t drive that far. Does gas go bad if it is sitting in the tank for a long period of time? Toyota has told me that I have not break in my new car engine yet since it’s not being used almost most of the time and it’s been a year.
I am i get 2 free yrs of charges plus a discount at the home night charging. You Alaso get a free home charger. I got $9500k with states and federal incentives. Now that has is going to so much and no cars available electric car value can be sold for me than you purchased it. No oil changes, breaks last longer since i bearly use them due to regen brakes. No going to dealer for maintenance is also a value of time. So I’m making out like a king. Problem is there’s no cars right now so I would put an order in for one. Another advantage is the fact that you don’t have to hassle that price.
Don’t fool yourself, buying an electric car will come back and bite you in the A$$ .… as it did my family ! … Forget Batteries ! … an lets move on to a newer energy source that won’t poison everybody on earth !!
Electricity doesn’t come from thin air … ( like most EV car owners think ) … it is made at the cost of even more pollution to our environment ! .….. Wise-up people !!
If we continue to pump greenhouse gases into the atmosphere by using vehicles that burn fossil fuel, the amount of money we may (or may not) save today will be insignificant compared to the very real near-future costs of worsening climate change. It’s this simple: climate change will make inflation rates soar in every sector of the economy. Practically speaking, we can’t afford NOT to invest in vehicles that utilize sustainable, renewable energy. It’s possible that we might save a few bucks today by choosing to buy an internal combustion vehicle, but the costs down the road will be much higher for us all. I’m surprised that CNET is engaging in such short-sighted thinking.
So your conclusion is ambiguous at best, and most will find confusing. Moreover, what price do you put on the environment, and can you even put a price on the environment?
So you’re saying by not saying, that if I drive a particular EV such as a Tesla versus a GM product or some other auto manufacturers product, and I get my Energy from solar panels, and storage batteries, selling the access energy back to the grid, participating in Teslas virtual power plant strategy, that somehow gasoline powered vehicles that don’t have that kind of diversity or flexibility, can somehow compete with an electric vehicle?
So the smell of gasoline alone it’s enough to make me wanna drive an EV, and oh btw, I can actually camp out in my Tesla, and not worry about dying of carbon monoxide poisoning, and soon, I will be able to summon my car to pick me up or send it to pick up someone else.
So I won’t ever have to touch the steering wheel, and in the future there won’t be a need to have a steering wheel or petals and maybe, who knows, some genius me figure out a way to charge the battery while I’m driving it, how many future gasoline cars will be able to do that?
So not to pile on here, but with all the advantages, and flexibilities of owning an EV over an ICE vehicle, not to mention but governments, and add municipalities all converting to EV’s, and in the case of California, Washington state, Oregon, and Massachusetts, and now I understand New York state has joined with California and these other states to prohibit the sale of these vehicles by 2035, you won’t even be able to drive your vehicle in these state unless it’s a zero emission vehicle.
So in conclusion, I do appreciate you breaking down some of these issues, and I do like horses, but I’m not trying to own one.
So here’s my conclusion, in a couple of years buying a gasoline powered car will be like owning a horse, and I don’t know what the market is for the resale of horses, and that would be a problem. Comphrende! Cheers!🥂
LOL My 2014 Prius went up in value from what I bought it for used.
No body talks about the process to destroy the old battery. It takes more harmful products to destroy the lithium ion battery.
I’m a real estate photographer. I drive a total of 3–4 hours a day in between shoots, on average which is about 32,000 — 34,000 miles per year. I had a Nissan Maxima up until two and a half years ago, and I was spending $550-$600 a month on gasoline, with the price of gas on average was $2.30 — $2.40 per gallon in Chicago. I decided to buy a 2019 Nissan Leaf extended version, which I charge at home and now use that for commute. If I had that maxima, with todays gas prices, I’d spend about $1,000 — $1,200 a month on gasoline, since the price of a gallon of gas have doubled where I’m at, compared to two years ago. That $1,000-$1200 a month I’m saving on gasoline, is paying my leaf car payment, my auto insurance for my leaf, wife’s mini van and my 1949 Cadillac antique vehicle insurance, paying my electric bill at home plus I have some money left over. So yea, it’s saving me a bit of money. If you think about it, I’m getting paid to drive an ev car. On top of all that, I don’t have to worry about oil changes, tune ups, spark plugs etc.
Not only will you not save money, considering the subscriptive nature of ownership, you’ll be locked into a regular yearly update ‘fleecing’ by the manufacturer, alongside a souless, limited, and boring driving experience.
Depreciation is extremely low for Tesla’s currently. The life of a Tesla is over a million miles now. A gas car goes a little over 300k on average. I don’t stop to fill my car day to day. It’s fully charged every morning. Also gas variation can differ that much from Hawaii to California to Idaho just as much as electricity. Oil changes. Transmission going out belts and gas filters. There is so few components on an ev. To replace your engine if you want to continue driving your gas car is 6 to 10 thousand so I’m replacing a battery instead of an engine.
It’ll eventually become cost competitive
Just about wrong on all counts. Of course, EV’s are more costly to buy, but it’s all about your weekly running costs. The battery life thing, from what I have read, people are getting over 150,000 miles in the EV’s and the battery is still going strong, may have slightly less range, but for most people makes very little difference.
There is one big one you missed, servicing, I have heard of many people with 100,000 miles on their Tesla, only changed tires and cabin filter, there is very little that needs to be serviced. No oil & filter in the engine, on trans oil, no diff oil. So, over a 10 year period big savings in servicing costs.
Also, what if you have solar panels on the home roof, free power.
$30K EV designed for short(ish) trips, 20kWh solar, charge at home. You are right. Planets need to be aligned.
Honestly one of the least educated educational videos I’ve ever watched.
The amount of smug on these leftist channels is insufferable 🤣 hope leccy prices balloon
Child slave labour is involved in the hazardous processes of mining the highly toxic materials that are used in the production of EV batteries, for this single reason alone I would not feel comfortable with having an EV.
Not my tank! I drive very little and rarely buy gas.
Many governments are introducing a tax per mile/km on EVs to cover road maintenance. EV owners will be slugged so hard they’ll wish they’d never bought an EV. I’m not anti-EV, but the math has to stack up, and once you account for these taxes it won’t. What scares me is everyday income people going out and buying Teslas with the good intention to save the planet. What they are buying is a luxury vehicle at a price point they would never have considered otherwise, and expecting to break even after x‑many years. It’s a debt trap and a tragedy.
Thats why I’m buying hybrid.
You get 10 year 100k warranty on the battery. These ev battery’s are meant to outlast the car.
I buy 20 year old cars for about $1500 dollars. They usually last me about five years. That’s $300 dollars a year. No way I’m going to work for a year to buy a $50 000 EV to get me to a place I don’t even want to go to. Lol!
4:40 This is actually really BAD advice. Cells do not all age at the same rate, and failing cells would cause the BMS to no longer be able to charge properly. With poor software or specific failures, it could be a safety issue. It is not just reduced range that occurs when a battery starts to fail, so it might be all just fine, until suddenly, it isn’t.
And all the money you spend on food and drink while waiting for your car to charge is going to cost extra . And that hour you spent at the charger if you were in a gas car you would be 60 miles nearer your destination. A stupid invention that will be short lived like the 8 track player and betamax VCR or cassette player etc
You forget to mention the most important thing… “This video is brought to you by BMW”
I see a lot of delusional comments saying EVs are cheaper to own. If that was really true then everyone would buy one already. Take away the tax credits and $7500 cost savings is gone immediately.
I use my car for work and spend 800 a month on gas and another 300 on maintenance every month. My new EV payments are 600 and the charging added about 25 dollars to my monthly electric bill. It was a no brainer for me. I’m putting 500 dollars a month back in my pocket by owning an EV.
Brought to you by Exxon Mobil
Worth it? EVs are not. The price difference out the door between a base Camry and base Tesla 3 in my market worked out to $20,538. Based on 12,500 miles a year and the price of gas and the efficiency of the Camry, they got to drive their car for free (gas) for 8.55 years till they reached the cost of the Tesla. And in that same time period, the Tesla had to pay for their charging. You don’t need a PhD in math to figure that out.
👎🏻
I think it depends on your location. I have a model 3 long range and live in a rural hilly/wooded area with winding back roads. The regen braking makes it feel like you’re “floating” over the hills, and all the weight being in the floor makes the car quite fun in the corners. But it’s really being on those back roads keeping the speed under 60 that allows you to actually have 300+ miles range. If you have highway driving everyday it’ll get way less range. Transmissions in internal combustion vehicles are most efficient usually around 55mph, but an EV only really has air resistance to worry about, the slower you have to drive the longer you’ll be able to go.
3:30 “than a combustion engine car that is very UNlikely to need a engine replacement in its life”
Hyundai/Kia is exempt from this statement.