How much are you really saving

[RickMachE]

I live in CT and my favorite vacation spot is Newport RI. There is no charging infrastructure on that route yet. Unfortunately, I had to take my Accord Hybrid in 2 trips. Yes, it was 48 mpg.
I bought the MME to get off fossil fuels, not to save money. Plus, I got rid of a ‘12 Kia Sorento and it was time to upgrade. Plus, I wanted it.

New London has EA chargers. An hour out. Lots of level 2 chargers in Newport if needed.

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[ChuckA]

My electricity is free.
I pay about 3.95 for gas, get 22 mpg and drive 105 miles per day round trip commute. Assuming I don't drive anywhere else that's $3400. Per year.

Sounds like a math problem. The answer is you commute 180 days per year.

 

[Killerzees]

Sounds like a math problem. The answer is you commute 180 days per year.

This is accurate, and ironically I'm a math teacher. Thus the 180 days of commuting. ??

 

[ChuckA]

New London has EA chargers. An hour out. Lots of level 2 chargers in Newport if needed.

I'll need to check that out. I thought Waterford were the only EA chargers on route. The level 2 at the Marriott is the only one that makes sense in Newport if I want to tie up the car for 5 hours.

 

[ChuckA]

This is accurate, and ironically I'm a math teacher. Thus the 180 days of commuting. ??

My mother was a teacher! I recognize the number.

 

[phil]

This is accurate, and ironically I'm a math teacher. Thus the 180 days of commuting. ??

An English teacher would know that this is not ironic.

 

[RickMachE]

I'll need to check that out. I thought Waterford were the only EA chargers on route. The level 2 at the Marriott is the only one that makes sense in Newport if I want to tie up the car for 5 hours.

I meant Waterford. One hour from you destination. You charge to 95% and arrive with 70%?

 

[ChuckA]

I meant Waterford. One hour from you destination. You charge to 95% and arrive with 70%?

My MME hasn’t yet received 21P22 so at 80% charging speed drops to 11 kWh. Ford hasn’t yet released that update to my VIN.

Waterford works for me but the wife won’t let me go under 25% SOC. I tried Waterford when I went to the Mohegan Sun casino. It’s a good EA charging site. I’ll do it next time.

 

[RickMachE]

Charge to 80%. Arrive with 50%. Use 110v when the car isn't being used.

 

[jpiazza67]

Pretty tough to tell what you're asking. Electricity costs vary all over the place. My off-peak in Michigan totals, with all the pieces off the bill, at 12.5 cents. My cost per mile is about 4 cents.

I drive an F-150 also. Same MPG.

240 miles x 4 cents per mile = $9.60.
240 / 17 x $4.15 per gallon = $58.59.

Of course spending $60K to save that isn't ever going to breakeven...

...unless you keep the car and drive it into the ground.

10 year savings...
lets say gas is $5 on average for the next 10 years, 15,000 miles a year...

Mustang 10 years
15,000/240mi = 62.5 X 9.60 = 600 x 10 years = $6,000
add 10% to cushion rate hikes = $6,600
add 10% for energy lost in the transfer from house to car = $7,260

Other 17 MPG 10 years
15,000/17 x $5/gal = $44,117
plus oil changes = $2,000

There's more savings such as breaks and the muffler system but your at $46,000 vs $7,000

Keep for 25 years and that's about $100,000 savings, minus the cost of a new battery. The breakeven point is somewhere after a few year of driving if comparing to the average cost of a new vehicle. I love my Mustang, fun to drive, IMO luxurious, but the number 1 reason I bought it was it's practicality as compared to other options. I bought a 2 year old MME, my breakeven point was the moment I signed the paperwork.

 

[Mach1E]

...unless you keep the car and drive it into the ground.

10 year savings...
lets say gas is $5 on average for the next 10 years, 15,000 miles a year...

Mustang 10 years
15,000/240mi = 62.5 X 9.60 = 600 x 10 years = $6,000
add 10% to cushion rate hikes = $6,600
add 10% for energy lost in the transfer from house to car = $7,260

Other 17 MPG 10 years
15,000/17 x $5/gal = $44,117
plus oil changes = $2,000

There's more savings such as breaks and the muffler system but your at $46,000 vs $7,000

Keep for 25 years and that's about $100,000 savings, minus the cost of a new battery. The breakeven point is somewhere after a few year of driving if comparing to the average cost of a new vehicle. I love my Mustang, fun to drive, IMO luxurious, but the number 1 reason I bought it was it's practicality as compared to other options. I bought a 2 year old MME, my breakeven point was the moment I signed the paperwork.

17 mpg??? Sure if you start there like the OP pretty much anything is better.

At least compare to another small crossover at 30 mpg.

Or even better a PHeV like the RAV4 Prime where the savings go away altogether.

You have to keep a new car for a Decade and drive a lot of miles to “break even” vs a 30 mpg crossover. That’s a long time.

And the resale value of a 10 yr old electric car out of warranty? Gonna be terrible. Probably still a money loser at that point.

Hopefully most people aren’t going electric to save money.

If you want to save money, buy a used Prius not a new $50-70k BEV.

 

[Teslaeata]

17 mpg??? Sure if you start there like the OP pretty much anything is better.

At least compare to another small crossover at 30 mpg.

Or even better a PHeV like the RAV4 Prime where the savings go away altogether.

You have to keep a new car for a Decade and drive a lot of miles to “break even” vs a 30 mpg crossover. That’s a long time.

And the resale value of a 10 yr old electric car out of warranty? Gonna be terrible. Probably still a money loser at that point.

Hopefully most people aren’t going electric to save money.

If you want to save money, buy a used Prius not a new $50-70k BEV.

My stats use a 48mpg hybrid Outlander in the comparison and using its MPG shows that I saved c£3,500 (38%) on fuel alone.

My own company bought the car.

There are substantial tax savings for EVs over the spirit or oil burning “equivalants”

At 66,000 miles I calculate I charged business travel out at c£30,000 and, leaving out the charge out rate for my travel time, adding in only fuel savings, means that at around 100,000 miles it will just about paid for itself?

And if you could monetise the feel-good of owning & driving ‘Stangy, I’m a millionaire?

As for replacement battery? I doubt it’ll need that, I reckon the batteries will be better than that on my experience thus far, and if a cell or cells happen to go down, an array can be swapped out so shouldn’t enter into the break-even calculation significantly or at all esp if the cost of fixing the ICE-man’s EGR, DPFs, DM flywheels & other dodgy technology is taken into account is to be ignored which a lot of propagandist anti-EV comparisons are made!

What if, what if what if??‍

If your aunt was a bloke she’d be your uncle?

 

[Teslaeata]

And there’s more to cost saving, saving the planet from burning and flooding for one thing if it’s not already too late was my main consideration.

 

[Jferrari427]

For 15 years I have driven hybrids. I only put on 3000-4000 miles a year. The cost of the cars compared to ICE never worked out mathematically
As for SALL-E she too will never make financial sense.
But I want it and think I may be doing something good for the planet

Yep I’m in the same boat 3000-4000 miles per year as well. Work from home for own business.

The math of an EV makes no sense over a cheaper gas vehicle lol. But the gas vehicles I was looking at were in the same 60K price range so if you’d buy a 60K EV over a 60K ICE vehicle, you’d actually save money lol.

 

[Mach1E]

And there’s more to cost saving, saving the planet from burning and flooding for one thing if it’s not already too late was my main consideration.

might make a good bumper sticker “saving the world from burning and flooding, one car at a time.” ?

If that was truly your main consideration, you’d cut your impact in half by always car pooling.

Or a larger impact move closer to work.

I have a 1 mile commute and only drive 4k miles/yr. Would take me a 1/4 century to hit 100k.

Doing my part to change the weather? Or I just don’t like driving far. ?

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