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CR: EVs MORE expensive than ICE over 5 years

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Old Mar 6, 2020 | 12:05 PM
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Default CR: EVs MORE expensive than ICE over 5 years

Yeah, I know, nothing like throwing rocks at a hornet's nest with you all and your passions.

Still, I nearly fell out of my chair when I got the latest Consumer Reports car issue. IN GENERAL, while an EV costs about 1/3 to fuel up than an ICE, if depreciation is taken into account over five years the EV probably fares worse than an equivalent ICE car.

One example cited was a 2017 Leaf that sold for $35K (before credits) and now has a wholesale value of just $10.6K. It added that the Volt is in a similar situation. The article mentioned that Teslas do much better at this.

I'd love to see a rigorous writeup on long-term cost comparisons for EVs. I seem to recall reading in CR a year or two ago a comparison for ICE cars and that the Prius was king, with an annual cost of about $5K when everything is factored in--maintenance, fuel, depreciation, insurance, and such.

And, of course, it also means that a used Leaf, say, is a really good deal as long as you can live with the limitations. Better yet, the Volt, with far fewer limitations.
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Old Mar 6, 2020 | 12:17 PM
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Is that the trend for ALL EVs or just vehicles like the leaf?

Last I checked from used Teslas, it seems the folks who add on their value added reseller tax on certain Toyota products (200k 1999 LX470 for $14k) have entered the Tesla game...
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Old Mar 6, 2020 | 12:17 PM
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Originally Posted by riredale
Yeah, I know, nothing like throwing rocks at a hornet's nest with you all and your passions.

Still, I nearly fell out of my chair when I got the latest Consumer Reports car issue. IN GENERAL, while an EV costs about 1/3 to fuel up than an ICE, if depreciation is taken into account over five years the EV probably fares worse than an equivalent ICE car.

One example cited was a 2017 Leaf that sold for $35K (before credits) and now has a wholesale value of just $10.6K. It added that the Volt is in a similar situation. The article mentioned that Teslas do much better at this.

I'd love to see a rigorous writeup on long-term cost comparisons for EVs. I seem to recall reading in CR a year or two ago a comparison for ICE cars and that the Prius was king, with an annual cost of about $5K when everything is factored in--maintenance, fuel, depreciation, insurance, and such.

And, of course, it also means that a used Leaf, say, is a really good deal as long as you can live with the limitations. Better yet, the Volt, with far fewer limitations.
Maybe that's because the Volt and the Leaf are awful turds, and would depreciate like used toilet paper even if they had ICE drivetrains?
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Old Mar 6, 2020 | 12:19 PM
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Doesn't make much sense. If the average Tesla depreciates less than the equivalent ICE and it completely dominates the EV market, then EVs on average do better than ICEs.
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Old Mar 6, 2020 | 12:21 PM
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Originally Posted by EZZ
Doesn't make much sense. If the average Tesla depreciates less than the equivalent ICE and it completely dominates the EV market, then EVs on average do better than ICEs.
How are the lease rates on the Teslas compared to other similarly priced cars?
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Old Mar 6, 2020 | 12:40 PM
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Originally Posted by Och
How are the lease rates on the Teslas compared to other similarly priced cars?
Terrible. People rarely lease because Tesla gives such bad deals. The used car market for Tesla sellers is good because Tesla leases have no buyout option. So Tesla takes ownership and sells the used cars for too much (or keep it for fleet robotaxi). Inflates the market. Don't lease a Tesla. Just buy it and sell it later if you only want it 3 years.
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Old Mar 6, 2020 | 01:15 PM
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Originally Posted by Och
Maybe that's because the Volt and the Leaf are awful turds, and would depreciate like used toilet paper even if they had ICE drivetrains?
Correct. They picked two poor examples, with bad resale. However, much of that is regional. At least the Volt holds up halfway decent here in CA. So really, these test results depend upon where one lives.
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Old Mar 6, 2020 | 01:49 PM
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Just another CR clickbait headline...
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Old Mar 6, 2020 | 02:23 PM
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yes they picked bad examples, but are there any good examples besides tesla?
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Old Mar 6, 2020 | 02:31 PM
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Taycan, e-tron, i3, Bolt, Clarity, Kona, Ioniq, I-Pace, Soul EV, e-Niro, B-Class EV, Leaf, Tesla S, X, 3, e-Golf are EV's that come to mind
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Old Mar 6, 2020 | 04:48 PM
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Maybe someone should post the CR article.
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Old Mar 6, 2020 | 05:10 PM
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Where is the data?
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Old Mar 6, 2020 | 05:40 PM
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what about that Tesla Model X that had 500k miles, some hugely expensive repairs on that one and it chews through rear tires like nobodys business
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Old Mar 6, 2020 | 06:19 PM
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Originally Posted by 4TehNguyen
what about that Tesla Model X that had 500k miles, some hugely expensive repairs on that one and it chews through rear tires like nobodys business
that's an extreme example, not even relevant in this case.
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Old Mar 6, 2020 | 07:20 PM
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Originally Posted by 4TehNguyen
what about that Tesla Model X that had 500k miles, some hugely expensive repairs on that one and it chews through rear tires like nobodys business
Blew through a battery at 300k miles and a motor at 350k miles. Both were replaced under warranty as the car has an unlimited warranty under 8 years for power rain. It does chew through tires but has around 500hp. $29k maintenance and fuel costs over 400k miles seem reasonable for a $100k+ car.
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