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How did you justify the cost of your EV?

  • I carefully gathered all costs, mileage, etc and worked out I would save money over some years.

    Votes: 23 25.0%
  • I thought about it and reckoned/guessed I'd probably save money or break even.

    Votes: 14 15.2%
  • I don't/didn't expect to save money - I wanted the car (includes man maths).

    Votes: 61 66.3%
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Discussion Starter · #1 · (Edited)
This may have been done before, so apologies if so.

Please ignore the pandemic effects which has obviously trashed many calculations. It's your reasoning at the time of deciding to buy that counts, not what spanner life then threw in the works thereafter.

IF YOU HAVE BOUGHT MORE THAN ONE EV USING DIFFERENT REASONING YOU CAN VOTE FOR MORE THAN ONE OPTION.
 

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There is no way a new car can be cheaper than a 10+ year old one with 200k miles on the clock, which is what I changed from. In all honesty I wanted a shiny new toy for once... Pandemic has made it look even more frivolous 10k miles in first 8 months, followed by about 5k over the next 12 when it's largely just sat still as I've worked from home, and not really gone anywhere at weekends either.
 

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I'm still trying to find a justification...

Unfortunately my existing car is still running ok, costing me very little to keep running and the COVID situation means my annual mileage has fallen off a cliff, an EV would be nice ornament for the drive but wouldnt provide much benefit. I'm probably going to wait until the current car becomes uneconomic to repair, forcing a purchase by which point hopefully the pricing and ranges will have improved.
 

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Zoe GT Line 2020
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The prospect of not having to drive the 80 mile round trip to the office 5 days a week made it possible to consider a lease or PCP rather than borrowing the whole amount, thus making an EV affordable. I took out a 15k pa PCP but still haven’t been to the office even once so it looks lie I could have managed with much less mileage and saved a few quid.

So, there is a financial element, and as a card carrying leftie of course there’s an environmental element too - but in the end I’m a professional geek and I like gadgets :)
 

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I've not voted because I'd need to vote for 2 answers.

First off was to save money - we bought a second hand leaf, ran it for 12000 miles over 19 months, sold it for £350 less than we paid for it and saved nearly £1800 on diesel alone for our other car. So from that standpoint, it was calculated and planned as a money saving exercise.

However, the Leaf really whetted my appetite for a better EV, and then Man Maths™ applied. We now have a Model 3SR+, which we didn't really need but I wanted it and love it. It's as cheap to run (but will obviously depreciate more) but cost to buy. However, I intend to keep it for a good while yet! It obviously wasn't going to save money over running the Leaf, but part of my man maths calculations involved the leaf's value (like i said - we sold it for £350 less than paid. A year later and values shifted such that it would have dropped by about £2-2.5k from there), and in hindsight the Tesla is now £3200 more than it was when we bought it (was £38290 in blue when we got it, now £41490), so waiting a year would have made the switch almost £6k more expensive than it was at the time we did it - i did take a loan to pay for it which has a total interest cost over its lifetime of £1788, but I'm on the verge of paying that off 4 years early (pandemic saving...) so total interest cost will have worked out around £900 instead. The other bonus was the cancellation of LCT on the model 3 (£1600 over 5 years).
 

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My move to EVs was more a case of trying to avoid losing money than saving it. I had a Golf diesel just as the fan was about to disperse stuff. I suspected that diesel values would plummet soon so I was keen to trade on before that happened. Then a Nissan email arrived offering a 7 day test drive of the Leaf. The first EV experience was positive and a combination of an excellent trade-in figure and a snatch yer hand off monthly PCP deal led to me signing the papers. So dieselgate forced my move but also led to me saving loads over the next five years.
 

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Discussion Starter · #11 ·
My move to EVs was more a case of trying to avoid losing money than saving it. I had a Golf diesel just as the fan was about to disperse stuff. I suspected that diesel values would plummet soon so I was keen to trade on before that happened. Then a Nissan email arrived offering a 7 day test drive of the Leaf. The first EV experience was positive and a combination of an excellent trade-in figure and a snatch yer hand off monthly PCP deal led to me signing the papers. So dieselgate forced my move but also led to me saving loads over the next five years.
That sounds like the middle answer to me. At the time of purchase you hadn't fully worked it out - the large savings that resulted were chance.
 

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Discussion Starter · #12 ·
On the basis of the first 40ish votes exactly 2/3rd (66.7%) didn't do it for the 'savings'. I thought it might well be half or more, but didn't expect it to be that high.
We'll see if the later voters turn out to be the harder-nosed ones :)
 

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Kia e-Niro MY20 64 kWh - Gravity Blue
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Environmentals reasons mostly. I moved to a place about 70 km from work and did not feel good about having to commute in the Euro4 diesel I drove, which was also 10 years old already. Got cash after selling the house, did man maths and figured I'd more or less break even after 10 years of owning the EV so decided to take the plunge. Most expensive car I have ever bought, will ever buy but no regrets. I hate the smell of diesel every time one passes me in the street. Electric is just so much nicer. I am hoping to contribute to accelerating the transition in Spain by owning an EV.
 

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I know I'm not going to save money compared to running a second hand diesel, but the lower running cost of an EV will offset a large enough proportion of the initial outlay to make the overall cost affordable to me. The expense is worth it for the luxury of having a brand new car as well as massively reducing my carbon footprint.
 

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EGGY
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I got sick and tired of chewing on diesel fumes when cycling and decided to make my own small contribution and do something about it
 

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Don't do many miles at all and felt I was just throwing money away after I realised I could charge it so cheaply on Octopus.

Not going to lie, Covid had a part to play too, the only place I was being exposed every single week was the petrol station.
 

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First electric car we bought was based on environment reasons. In the end we had such a cracking deal, it didn't cost much at all for the first two years.
 
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