Total Cost of Ownership - ICE and EV

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Kim_Wilko
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Total Cost of Ownership - ICE and EV

Post by Kim_Wilko » Mon, 08 Oct 2018, 21:49

hi all,
Newbie here
Interested in buying an EV in the near future (say within 6 months)
Trying to get a feel for the Total Cost of Ownership" over the life of the car (as it will probably be my last).

RAC WA has published some costs of ownership over 5 years for several current EVs (as well as lots of ICEs) - see attached document.
Web-site is here: https://rac.com.au/car-motoring/info/bu ... ning-costs
I have an excess of energy from the PV array, so plan (hope) to power the EV from this source.

Would be interested in your comments from the real world.
cheers Kim
Attachments
VOC_2018_Electric.pdf
RAC WA costs of owning different EVs in 2018
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mikedufty
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Re: Total Cost of Ownership - ICE and EV

Post by mikedufty » Tue, 09 Oct 2018, 08:42

As RAC say, the biggest cost is depreciation, so an EV should compare well to a similarly priced ICE, but poorly compared to a similarly specced ICE which is half the price. If it is going to be your last car, that may not concern you.

Electricity cost and insurance should be pretty easy to work out.
Servicing should be a little cheaper for an EV.
Out of warranty repairs can be highly variable and depend on luck, I suspect more than an ICE car at the moment but should end up less as they become more mainstream.
My recent problems with i-MiEV charger would cost $5000+ to have repaired by the dealer, but some people have managed to fix themselves for about $200.

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jonescg
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Re: Total Cost of Ownership - ICE and EV

Post by jonescg » Tue, 09 Oct 2018, 09:55

The RAC report included the cost of finance, as if to suggest that borrowing money to buy a car is not only the done thing, it's encouraged.
AEVA National Secretary, WA branch vice-chair

Kim_Wilko
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Re: Total Cost of Ownership - ICE and EV

Post by Kim_Wilko » Tue, 09 Oct 2018, 10:22

There is some logic in the inclusion of financing cost, as it could be earning interest . However that is much less than the charges for borrowed money.

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