I like how you took the time to come to the EV sub and tell us this. Slow day?

That seems pretty high, is it a complicated install? I was estimating about 1500 CAD

I mean you need to provide more details on where you live, your annual mileage, the price of fuel v electricity there, the vehicles you are comparing, home charging situation etc.

I ran the numbers on Corolla hybrid vs a Bolt in Ontario,where the difference between gas and electricity prices are steeper than most of the USA.

Through fuel/oil change savings, the Bolt paid for itself in 8 years x 15k km. I estimated that less break changes on the EV where roughly equivalent to less tire wear and cheaper insurance on the Corolla.

However to protect against depreciation I want to lease the Bolt, which makes the payoff closer to 10 years.

Then I’d also have to pay for a charger install at my rental. And my 550km road trips 3-5x annually would be difficult with my family in the Canadian winter. And any major repairs would be more expensive in the Bolt. And Corolla is better equipped. And then factor in the opportunity cost of paying more upfront for the Bolt. And boy is 500 mi of all-weather range nice (570 in the summer). That’s one 5 min pit stop every three weeks or so.

So in short, buying an EV for my use case would not be cheaper, and would be pretty inconvenient in comparison to a Corolla. If I drove 25k+ km a year I might reconsider. What’s your situation?

Explains the popularity of 84 mo financing I suppose

70% of new car buyers earn less than 100k

Maybe. Insurance companies aren’t prone to covering costs they don’t have to.

Yes, either a giant global conspiracy OR EV’s cost more to repair, and are written off more frequently after accidents: https://www.thisismoney.co.uk/money/electriccars/article-12263633/Electric-vehicles-claims-25-higher-petrol-cars.html

Yeah ignorance, and maybe the fact that EV’s don’t work for people without home charging, don’t qualify for tax breaks, or have too rely on one vehicle to meet 100% of their households needs.

The demographics data is very clear - your average EV buyer has a six figure income, owns a single family home, and has two or more vehicles in the driveway. What proportion of the population is that?

Exactly, it’s just that capacity has increased faster than demand, not slowing demand

Can you imagine if the hundreds of billions spent on subsidizing EV’s for wealthy people was spent on transit?

In general I’d agree. But a Corolla is as maintenance free as they come, and easier and cheaper to have repaired than an EV. I don’t particularly care for fueling it in the winter, but with a 570 mi range that would only be five minutes if once or twice a month. That leaves oil changes, but I just get those done when swapping winter tires (a necessity in Canada) so that’s no more inconvenience.

The pros are never having to charge 2-3 times on my 550 km road trips (availability and cost for chargers are still an issue in Canada). Not having to worry about finding charging when going on camping trips. No worries about the battery in winter. Less tire wear. Slightly cheaper insurance. Not having to install a home charger in my rental. Oh, and the Corolla is much better looking/equipped than a Bolt.

Hybrid wins easily for my use case.

2 - this is where the TCO analysis between a Corolla hybrid and an EV breaks down for me. A Bolt is cheaper after 8-9 years if you buy it BUT accounting for depreciation/leasing means it’s just not worth it, especially considering the convenience of the Corolla.