I am a California resident.

I am going into analysis paralysis and it’s making me crazy when I sit down to decide if I should go with an ICE car or an EV. HELPPPPPP!!!

Sure ICE vehicles cost more in fuel and maintenance, but EVs have some other costs as well:

  • Costs relatively more to insure

  • Registration cost every year is higher

  • Opportunity cost: a $40k EV is generally compared to a $30k ICE car in terms of break even in 5-6 years. But people rarely mention the opportunity cost of spending the extra $10000. That $10k can make you around $1k each year if invested (subject to market risk ofcourse).

  • Supercharging is still not cheap: while still being 50% cheaper than gas, its not cheap. I see 50c/kwh near my area. And not everyone has a home to charge.

  • Rate of depreciation: All cars depreciate. But some loose value faster than others. My personal feeling is EVs depreciate faster than ICE. Simply because the tech is growing so fast. The argument for ICE is that there will be less demand for ICE in future due to increasing EV market share. So, little conflicted on the right answer here

I don’t know if am the only one who is unable to see the savings in EV (long term). Am I missing something?? Can eV owners share their perspective?? HELP ME come out of this shit and just book a carrr!!!

  • FlounderFit6680@alien.topBEnglish
    1·
    1 year ago

    People need to shut up about opportunity cost.

    It’s theoretical, not guaranteed which the vast majority are too busy living paycheck to paycheck to even have.

    Let’s be honest, you aren’t going to invest that 10k unless it’s already invested and you’ll be getting closer to 5%. A lot of ifs.

    You can seriously do the math yourself.

    Get quotes on the insurance, estimated electrical costs from your EVs customer reported efficiency and your utility rate.

    Compare that to your ICE car of choice.

    Decide for yourself.