Depreciation is a massive slice of the pie in all cars, but EVs are hit even harder. Buying a used EV is probably my best bet in about 5-10 years from now.
Comment on xkcd #3214: Electric Vehicles
surewhynotlem@lemmy.world 23 hours agoMust be a Europe thing. I ran the numbers in America and avoiding gas cost (vs electric cost per mile) means the car paid for itself after 30k miles. And that’s ignoring that it needs no maintenance.
I thought European gas was expensive. Is the electricity over there also really pricey?
turboSnail@piefed.europe.pub 21 hours ago
exasperation@lemmy.dbzer0.com 8 hours ago
Depreciation is a massive slice of the pie in all cars, but EVs are hit even harder.
I think that’s a quirk of Tesla trying to preserve market share by aggressively cutting prices of their new models over the past 5 years, which naturally puts pressure on all used models on the road. I don’t think that can last.
If EV manufacturers are racing to compete on price, then the new EVs will get cheaper faster to where EVs are cheaper than ICE vehicles new. And if the EV manufacturers stop cutting prices, then that will alleviate that depreciation pressure.
surewhynotlem@lemmy.world 20 hours ago
TCO is even better for electric. Near zero maintenance. The depreciation is real, but only if you plan to sell it at it’s half life. If you plan to hold it a long time, depreciation evens out.
My EV is ten years old and cost $30k. It’s paid for itself twice over in just gas. More if I factor in the zero maintenance (not totally zero. I changed the tires a few times and had to replace a trunk component). The resale on it is about $8k lower than an equivalent ICE. But for me, the EV was a good deal.
I’d definitely recommend getting a used one though. I bought mine new, and that makes the numbers worse.
turboSnail@piefed.europe.pub 14 hours ago
The way I see it, rich people can buy new cars. Everyone else who needs one should consider buying a used one instead. After a few years, depreciation isn’t quite so rapid any more, which makes TCO less of a burden.
Maintenance expenses do increase as the car ages, but as long as it isn’t like 25 years old, it’s not completely absurd. Currently, I’m looking to buy something that is about 5 years old, and then sell it when it begins to require frequent maintenance. That way, I should be able to avoid the two expensive extremes.
However, there’s another nasty twist. Cold environment will murder the NMC cells in no time. Not too long ago, I had to leave my car in a cold parking lot for a long time, and when I got back it was about -30 °C. Fortunately, I don’t need to abuse the engine this way any more than maybe twice every year. Oh, boy did it sound unhappy with that cold start, but it managed it anyway. If I had an EV, I would probably need to leave it at home, and take a bus for horribly timed trips like that.
Let’s say, about 6 times a year, I’ll have badly timed trips, with temperatures hovering around +5…-15 °C: That isn’t a complete disaster for EVs, but it’s still very bad for the cells. Some cars have a built-in heating system for the battery, so I guess that feature would see frequent use. When I’m eventually buying a use EV, having a battery heating system is going to be a completely non-negotiable feature.
AA5B@lemmy.world 22 hours ago
It depends where you live. We have cheap gas and I live in an area with one of the more expensive prices for electricity (and there are worse), but “filling up” at home is much cheaper than “filling up” my ice car.
However
surewhynotlem@lemmy.world 20 hours ago
Perfect time to buy one then
AA5B@lemmy.world 16 hours ago
Yes, I’ve argued that too. While there is the factor of fast changing technology, I think used EVs are a great buy right now.
I’m not in the market for an additional car although I’ve actually been tempted anyway …. I have two college kids sharing my old Subaru and it would prevent a lot of fights if I had another old vehicle for them
Then again my older kid just applied for a summer job with like 90 miles each way commute so may not be appropriate for limited or unknown range