what most cost efficent way of purchasing ev car ( over 25 years )

cadencep45

to date. Approch for ICE cars was;

Buy upfront small diesel car

Keep well maintained

Keep for 10-12 years

repeat cycle.

This does not appear a valid approch for ev's as;

ICE car v EV - ev much more expensive

Most expensive part in ev = bettery = life span roughly 8 years so expect very litfle resale value !

Gumbo

What were you smoking when you done the maths on the 8 year life span?

I must tell my 2011 Leaf to stop driving or the 2014 Model S it’s days are numbered and the 2016 Model S that he only has one year left 😂😂😂

the_amazing_raisin

Tesla were talking about batteries that could last 1 million miles (or 1,600,000km) before it's trashed

That's enough for 64,000km per year which is pretty high mileage for anyone

Also we've covered this in other threads, when an EV battery degrades faster than expected it's usually just a few bad cells to blame

An EV battery is just a bunch of cells usually grouped into modules. Replace the degraded module for a couple of thousand instead of the full pack and you can keep the car running for years and years

grumpygit

https://youtu.be/r1BBNJDnkTQ?si=0LKfJzgrxPJ-4tFu

i thought that was an informative YouTube video on batteries, if you can believe anything on YouTube

Redfox25

Cheapest way to stay motoring so for Op, buy another diesel, keep it for 25 yrs, worry about evs then.

liamog

https://www.boards.ie/discussion/comment/121167462#Comment_121167462

If OP has solar panels and is driving 50,000km per year then that isn't remotely true. The devils in the detail when it comes to whether an EV works out for an individual.

Redfox25

https://www.boards.ie/discussion/comment/121167674#Comment_121167674

I was alluding to the point that the op is trolling, who buys a car for 25yrs?

KilOit

https://www.boards.ie/discussion/comment/121167751#Comment_121167751

Someone who enjoys visiting garages?

liamog

https://www.boards.ie/discussion/comment/121167751#Comment_121167751

OP claimed to keep a car for 10-12 years. Doesn't seem that unreasonable to me.

Gumbo

https://www.boards.ie/discussion/comment/121167799#Comment_121167799

OP claimed that “to date” their cycle was 10-12 years.

Thread title claims 25 years though 🤷

kanuseeme

Maybe it's buy a 12.5 year old car, keep for 12.5

OP you need to clarify if you ever show up again

I'm actually getting more and more convinced that I should just drive our two EVs to the ground.

I haven't taken any measurements from the Tesla but it has just under 70k on the clock at 2 years and something and I expect that it still has about 90% of it's usable lifetime left. If we keep driving it 30k a year, in 2041 it will "only" have approx 600k on clock. It would mean lots of savings on financing costs and based on the purchase price back in 2021 it would cost just under 3000 euro a year on depreciation, which is way less than what our two previous cars cost, and almost in-line with the year one depreciation of the used leaf we bought last year.

This is what I call long term planning and I think it would a very interesting experiment.

oinkely

OP - 8 years for a battery was pub talk from anti EV idiots 8 years ago! The current argument is the life cycle CO2 etc and the environmental damage caused by mining rare earth metals etc for batteries. That's the approach you need to take when presenting the anti EV arguments at this stage.😉

Looks like we are approaching normal levels of depreciation for EVs now (ie on a par more or less with ICE in previous years) so your strategy to date will also work now for EVs - however depending on what segment of car you used to buy upfront and keep for 10-12 years you may not have too much choice as the smaller segment EVs are thin on the ground vs the larger and more expensive segments - ie loads of choice at 40K plus, and very little in the 20 to 30k bracket (IMO).

And sure if the current offerings of EVs don't suit your strategy just stick with the diesel. If it works for you then leave the comfort and convenience of EV driving for others.

Redfox25

Was looking at title and thought this was a trolling thread.

I get keeping a car for years, but 25 would be an outlier.

I think if the car you have is fine, keep running it. Plan to keep my own ev for 4 years, then check if anything else catches my attention, if not keep it for another while. Lfp battery will last for years and lack of regular servicing souds good. (M3). It does need some serving but much less than diesel predecessor.

zg3409

To answer the OP, typically depreciation is biggest cost of owning a car and typical depreciation is 20% year one, 10% all other years. That's just a rough estimate and depends on supply and demand when you go to sell. Some cars have much higher depreciation such as big engined bmw with big petrol engine.

The next biggest cost is often fuel which is a lot particularly for average mileage. Fuel costs can be easily saved by 60-80% by going EV and home charging.

EVs are slightly different. During high demand the used prices went up, demand seems to be way down now in used market while supply is increasing. Prices also jumped all over the place with 2 price cuts this year on Tesla and lots of price increases and 1+ year waiting lists on some EVs which have mostly been resolved.

The sums vary depending on your use case and preferred car type, mileage etc.

If you take say a 3 year old Niro EV for 25k euro and 50,000km and say you keep it 5 years. After 5 more years it may have 120,000km and be out of battery warranty. The value at that point may be hard to predict but without major issues the car may be worth 5000 euro. Depreciation estimate 4,000 per year, but if you take the risk of driving these out if warranty you may get a much better deal with the risk of an expensive repair or scrap same as any old banger on the road. Many people may chose to not sell their EV at say 10 years old if there is very little day to day problems or high cost nct repairs. There is a boards.ie thread on bangernomics and these days cheap 5,000 euro EVs may make more sense for cheap motoring than any petrol or diesel cheap car.

oceanman

any car i ever bought was about ten to twelve years old and i would keep it at least that long again, driving a 03 at the moment and hoping to keep it another few years so im getting close to that 25 years myself! lol