I am a California resident.
I am going into analysis paralysis and it’s making me crazy when I sit down to decide if I should go with an ICE car or an EV. HELPPPPPP!!!
Sure ICE vehicles cost more in fuel and maintenance, but EVs have some other costs as well:
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Costs relatively more to insure
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Registration cost every year is higher
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Opportunity cost: a $40k EV is generally compared to a $30k ICE car in terms of break even in 5-6 years. But people rarely mention the opportunity cost of spending the extra $10000. That $10k can make you around $1k each year if invested (subject to market risk ofcourse).
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Supercharging is still not cheap: while still being 50% cheaper than gas, its not cheap. I see 50c/kwh near my area. And not everyone has a home to charge.
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Rate of depreciation: All cars depreciate. But some loose value faster than others. My personal feeling is EVs depreciate faster than ICE. Simply because the tech is growing so fast. The argument for ICE is that there will be less demand for ICE in future due to increasing EV market share. So, little conflicted on the right answer here
I don’t know if am the only one who is unable to see the savings in EV (long term). Am I missing something?? Can eV owners share their perspective?? HELP ME come out of this shit and just book a carrr!!!
Assuming a rate of return on the market of 10% is a little ambitious. You’re more likely to be around 5%. Also the depreciation piece being a matter of your opinion is gonna throw off any calculations you’d make. Supercharging also won’t be your sole method to charge as more and more chargers are popping up everywhere. There are a lot of different variables at play here but I think my main question for you is, do you want an EV? This post almost seems like you’re trying to talk yourself out of it. This is your car, and if you have the means to choose you should get something that you’d like and be comfortable in as opposed to what’s the best investment.