How much are you really saving

[DrJay32]

Simple calculation for me:
I drive roughly 10k miles per year, and average 22MPG.
10,000/22 = 454.4 gal of gas
454.5.x $4/gal = $1818 annually

10,000 mi / 2.7 kWh per mile = 3703 kWh per year
3703 x $0.118 per kWh (Colorado Springs Utilities) = $437/year

With gas prices only going up, I’m good with this math.

Whether it’s a good value depends on your personal feelings. My personal feeling is that I’m getting a car that’s going to be fun to drive, and far cheaper to operate and maintain than ICE.

Sponsored

 

[ChuckA]

Simple calculation for me:
I drive roughly 10k miles per year, and average 22MPG.
10,000/22 = 454.4 gal of gas
454.5.x $4/gal = $1818 annually

10,000 mi / 2.7 kWh per mile = 3703 kWh per year
3703 x $0.118 per kWh (Colorado Springs Utilities) = $437/year

With gas prices only going up, I’m good with this math.

Whether it’s a good value depends on your personal feelings. My personal feeling is that I’m getting a car that’s going to be fun to drive, and far cheaper to operate and maintain than ICE.

Done very well, simple to understand. If set up as a spreadsheet with annual mileage, mpg, gas cost, and KWh cost. as variables, it’s a model anyone can use.

 

[DrJay32]

Done very well, simple to understand. If set up as a spreadsheet with annual mileage, mpg, gas cost, and KWh cost. as variables, it’s a model anyone can use.

https://docs.google.com/file/d/1A5c...6sHTbT/edit?usp=docslist_api&filetype=msexcel

 

[ZuleMME]

I've been modeling my savings since I got my Mach-E in August last year. Saved $640 as of Mar 31st over my BMW X3 M40i. If your daily grind is short enough to get out and back under power from your home everyday AND your energy costs at home are reasonable ($0.20 or under) you're likely to save a lot. Otherwise your math might be murkier and savings lower...

 

[ChuckA]

https://docs.google.com/file/d/1A5c...6sHTbT/edit?usp=docslist_api&filetype=msexcel

Only recommendation is that difference be renamed to “annual savings” and provide equivalent gas cost per gallon off the same inputs.

 

[MW1515]

I did not buy my $60,000 car for "savings".

True.... but there are plenty of people that buy $60K cars that don't pay for themselves over time.

 

[Chuck]

So I have con Ed. Ny westchester. Horrible. Anyway how much are you really saving. I drive like 240 miles a week. My current car gets like 17 per gallon. Off peak charging should be good.

I have solar. I haven't paid for fuel since April 27, 2021. At current gas prices of about $6/gallon I'm saving $6,285.00 per year in fuel costs alone over my 2009 Edge. I got 21 mpg in the Edge. This does not include oil changes and other unexpected expenses that occur on a 13 year old car.

 

[YFD_233]

I wonder since they now cancelled orders and they are hard to find if it’s worth buying it then maybe selling it after a couple months. My GT is the only one the dealer had received. I’m not sure I can afford the Mach e for long this purchase around

 

[RickMachE]

I wonder since they now cancelled orders and they are hard to find if it’s worth buying it then maybe selling it after a couple months. My GT is the only one the dealer had received. I’m not sure I can afford the Mach e for long this purchase around

Buying a vehicle that you can't afford isn't very smart. You have no control over what the price is going to be in a few months. In addition, buying a car with the intent to turn around and resell it is against the thought behind the tax credit.

 

[Kennykustom]

$600/month in fuel.

 

[B.Regard]

I wonder since they now cancelled orders and they are hard to find if it’s worth buying it then maybe selling it after a couple months. My GT is the only one the dealer had received. I’m not sure I can afford the Mach e for long this purchase around

I think it’s almost a no-lose proposition financially to go ahead with the purchase. Maybe you will like the car and be able to keep it, maybe not. This is possibly a once in a lifetime chance to have that freedom. I‘ve have 4 cars I wished I could have dumped but was stuck with for years because of the usual first and second year depreciation. The point of the tax credit is just to get an electric on the road. You‘d be doing that. Rich people never think twice about getting tax breaks, why should we? Besides, you didn’t order it to flip it.

That said, I just cancelled my GT order because I bought another car after 6 months of waiting

 

[Jiji]

Your situation is a lot like mine except my winter kWh is less since I have oil heat. My solar system is 8400 kWh which I got prior to my MME. What’s your system size, about 14,500 kWh?

Just under 25kW, 72 panel ground mount array with three inverters.

And consumption to date for 2022, dominated by heating and EV charging:

 

[DrJay32]

Only recommendation is that difference be renamed to “annual savings” and provide equivalent gas cost per gallon off the same inputs.

Made some tweaks. Thanks for the suggestions!

 

[igotnoclevername]

I oversized my solar when I had it installed in anticipation of the day I'd run an EV off it. That day is almost here, so $5+ gas & oil changes will go bye bye.

 

[Rt1AWD]

Drove around 1500 miles since getting a car on Feb 16. So saved around $400 so far

Sponsored