They aren’t all Luxury cars. Short of Tesla, most EVs just have higher upfront costs and dumb people can’t figure out math or make long term plans. The car may cost more cash per month for the first 5 years unless you drive 30,000km+ per year, but they’re cheaper over their lifetime. Spend a little to save a little.
You can pick up a Kia Niro EV for $50k CDN or a Kia Forte for around $26k, So a $24k difference in price for a reasonably comparable car. The Niro EV uses around 15kwh per 100km, the Forte boasts a fuel economy of around 8L/100km, at $2.10 per liter and $0.145 per kwh you save about $14.63 per 100km to drive the EV. That $24k price is completely paid off at 164,000km, and the battery has a 160,000km warranty on it. You also save money on service costs, since there’s no oil changes, though part of that is offset by slightly higher tire costs. Any amount you drive it past the 164,000km is just going to put more money back in your pocket.
This also assumes that gas stays at around $2.00, if it goes up to say $2.50, or even $3 over the next decade then you’re going to be paying off the EV difference that much faster.
Should you buy one if your annual driving is 5000km? No, you will never make up the cost Should you buy one if you have nowhere to charge the damn thing? Also no, but maybe bug your employer to install chargers at the office Should you buy one if you drive to Alberta every other weekend? No, there are better models for road tripping.
But a large majority of people don’t fall into those three categories and should absolutely be investing in an EV.
Plus, they’re quite pleasant to drive. Go test drive one. Quiet, smooth, and responsive.
Did you add in the cost of financing that 24K and tax over 5 years, plus the cost when they inevitably then flip the outstanding balance onto their line of credit because they can’t afford the payments to pay out the full amount over a 5 year term? Yeah, it probably won’t ever be cheaper for the average Canadians I know.
If the 24k difference is a problem for you financially, you probably shouldn’t be buying a new vehicle at all.
Like I said, the price difference per month is not that big, If you drive 20,000km a year, gas works out to $315 a month in that Forte, and the car payment is $433 before financing. The EV would be $833 before financing and $43 in electricity . If you’re financing at 7%, the totals come out to $151 extra for the ICE and $291 for the EV in the first year, dropping each year for both of them. Assuming 5 years for both.
Totals are then $900 vs $1167 per month for the two vehicles, a difference of $267 now, in order to end up saving $300 a month in gas once the car is paid off after 5 years. In addition to the cheaper maintenance, and the fact that you aren’t fucking the environment quite as badly, and the fact that if gas prices go up (which is likely) you save even more.
If that doesn’t work for you, buy used. Nothing wrong with buying used ICE vehicles, those owners can then shell out to to buy new EVs that will then be sold used in a few years at prices you can afford. Or you can buy a used EV, just don’t go for one of the older leafs.
You can buy a used '20 Niro EV with 90,000km on it for $27,000 right now listed at Kia in Vancouver. $450 monthly, plus $157 in financing, plus $43 in electricity. Total monthly cost is now $650. You’d have to buy a used ICE below $15,000 to get that monthly payment with the gas costs. Based on current stock, that’s about a 2016-2018 Forte equivalent.
dumb people can’t figure out math or make long term plans
Wow, a smug, sanctimonious, self-congratulatory asshole who spends thousand words making the problem just a little bit worse rather than exhibiting even just a little bit of understanding or empathy for others who are in different circumstances or come fr a different background, who also thinks some technology is also the solution to a social problem.
Shocking!
Try again, only this time without letting yourself believe that other people are just dumber than you. Because you sound downright mid.
Nah, other people ARE dumber than me. You know this, I know this, everyone knows this.
We both know how many idiots there are driving around stupid impractical vehicles, trucks that have never been off asphalt or ever carried more than a hockey bag in the bed and 8 seat SUVs that have never had more than 4 people in them.
If someone is buying a NEW vehicle today, and they’re choosing an ICE, they’re clearly not making the best financial decision. The only good financial options are used ICE vehicles, used EVs, and New EVs. The only exception to this may be a mini-van simply due to a lack of EV options in this category.
If people want to make poor financial decisions that will end up costing them more money, they can go right ahead, but we shouldn’t call them smart for doing so.
I’m not sure why you got downvoted so much. I live outside Calgary and you’d think sedans or any regular sized car doesn’t even exist here. Then you get the ironic “Fuck Trudeau” folks pulling up to the gas station with their big ass truck and complain about gas prices. No shit you pay a lot, you modified the engine to roll coal when you accelerate. Morons, the lot of them.
https://imgur.com/gallery/GBAEQLb
Completely agree btw
