EV cost savings

oinkely wrote: »

We have a full size toddler seat in ours, along with two narrow booster seats. I bought them specifically for their narrowness - the standard boosters are about the right size for an adult arse, not a child!

And that's the difference right there. Some boosters are too wide and some child seats are just enormous. Christ, don't get me started on the buggies!!!

As I said in another thread, you are mixing up cash flow and costs

Your depreciation is a cost and so is the interest you pay on your loan

Your monthly repayments are irrelevant...

ELM327 wrote: »

I'm not mixing up cashflow with cost, at the moment I'd say theres a lot more depreciation on the supposedly depreciation free car than what I've put in as loan repayments.

Yes you are.

The repayment of the loan is equally the cost as getting the loan is your profit.

Also you completely excluded servicing costs on a 16 year old 320D


that is not small.

And adding depreciation in doesnt make sense, because you are not paying depreciation so that would have no bearing on your mortgage as alluded to above...
depreciation is not an outgoing cost.

ELM327 wrote: »

+1
So depreciation of 2-3k in a couple of months so far, plus the 7% interest.
Still more expensive than 350 quid of fuel and a few quid extra for tax.


Am I missing something?

You need a longer term view.... 2-3 months of ownership isn't enough to really determine what your depreciation costs are.

If you have truly suffered 2-3k in depreciation in a couple of months I'd say you overpaid for the car rather than saying that that is going to be your typical depreciation for the next 2-3 years

You need to ask yourself.... what do you think the car will be worth after 3yrs of ownership or whatever your normal "buy a new car" cycle is. Then use that as your cost.


I think you have been too dismissive of the maintenance costs too. Oil, filter, pads is the easy bit. What about flywheels, EGR Valves, turbos etc. Can you do those yourself?
Just ignoring those inevitable costs and saying you'll throw the car away and buy another one isn't helping you make an apples to apples comparison because those costs are real.

ELM327 wrote: »

I can afford the payments, that's not the issue.
The issue is how much of the 526 is for depreciation.

How long are you planning to keep the car?

If you were only going to keep it for 6 months, then spending €27k on a nearly new car from a dealer was pure madness. If it is 2, 3, 4 years or more, let us know (also your interest percentage) and we'll do you up a banger vs EV TCO overview

ELM327 wrote: »

Are you trying to help or argue (again genuine question I'm not getting the tone of what you're saying)






I was planning to keep it 2 years. Purchased in April 2018. So 2 years was to April 2020 which is when I guessed my model 3 would be available. I've since cancelled my model 3 reservation so I don't have anything in mind for 2020.

My point is, youve done bad math up twice on the same thread. As has been pointed out to you. Youve had the card a few months, and your already ansty about it.

The repayments costs havent changed on it you knew what they were. But you want to get rid of it to reduce the costs.

So then sell it, because according to your own charge its losing money every month right now.


** dont buy Tesla 3., youll have the same cost evaluation problems albeit with higher monthlys because its a more expensive car.

Ok let's stick to your original plan

BMW - we'll go with your figure of €473 and budget for zero maintenance

Ioniq - we'll go with car bought for €27k, worth say €17k after 2 years. Average outstanding loan value sa €20k interest 7%, so monthly interest €115, depreciation €415. Tax + insurance €70, total €600

Not surprisingly, it is not cheap to buy a new car and change it every 2 year. Take the above figures into 3 years, be a bit more realistic about the BMW maintenance (and remember you'd have to buy one too which you conveniently forgot to mention ), you'd have cheaper TCO with the brand new EV

EDIT - I see others got here before me while I was writing this, but I'll leave it up anyway now! Was the BMW a gift? You have no loan repayments on it now, but presumably it cost you something to buy ...? Also, you've left out maintenance, which will be close to nil on the Ioniq over the first three years of its life, and absolutely the opposite on the BMW. That's a big gap in your cost of ownership. I have a car which truly is a case of bangernomics, as it cost me a mere £380 to buy. However I knew at the time of purchase that it would cost me more than a brand new/nearly new car to keep on the road, and so it has turned out to be. The latest cost is replacement rear backplates and handbrake shoes - it's not too bad, at £140 for both sides plus £30 for new brake pads, plus probably £40 for fitting (I live in NI), but it's not nothing either. A few months ago it was the in-tank fuel pump, luckily a very cheap component at £40 plus £30 to fit, but the inconvenience & stress was a bigger factor there as the initial signs of failure manifested themselves about 100 miles from home en route to a weekend away. That was just a month after getting a full set of tyres. A couple of months before that, it was rear suspension arms at £190 to buy the pair plus another £80 to fit them. About this time last year I spent over £300 on a new exhaust. Yes, some of those items will last the remaining lifetime of the car, but cheap cars are only cheap at the time of acquistion. Over the past year, I reckon I've spend close to a grand in various increments on maintaining that car of mine. And a lot of that is with mate's rates on the labour. If I try to sell it with a long MOT I might get £700, or I might get no bites at all and end up paying to scrap it. If/when you sell your Ioniq, you'll recoup far more of the car's value than if you were offloading a similarly aged ICE. Years ago, I bought a new Renault Clio for something like £11500, then had to sell it a year later after a change of work meant a big increase in commuting distance - I got just over £6500 for it. With your 320d, the turbo will need to be replaced if it hasn't already been, as they are prone to blades breaking off and being sucked into the engine, necessitating a new engine. Up here, you'd be lucky to get away with less than £200 to replace that turbo. New injectors will likely be needed, at £80 minimum to buy a reconditioned set plus labour to swap them out. I don't think there's a DPF on that engine, but plenty of diesels do have them and replacing a failed one is a massive expense. A failure of any clutch components on my car will set me back at least £600 as the whole lot will have to be replaced - e.g. if the master cylinder goes, the slave will follow, and that's located inside the gearbox bellhousing, meaning that the clutchplate itself could end up contaminated with hydraulic fluid. To me, it's still worth keeping my car as I can't afford a new car anyway, and I could spend four or five grand buying a newer used car and still encounter the same sort of expenses. But I'm under no illusions about the total cost of running it, and I'm very much looking forward to being able to buy a 4-5 year old Niro EV. EDIT 2 - apologies for the block of text, can't seem to split it into paragraphs ...

ELM327 wrote: »

what?



That's very helpful, thanks.
Shows that I have €127 per month in the difference to cover maintenance on an older car.
Going to have to see if playing the long game (ie keeping the Ioniq to 3 years and probably 150k km on the clock at that stage) is better.
Will have a nice single malt later and see what I will do. I'd intended postponing any decision until I return from holiday at the start of October.

I can recommend method and madness single malt from Midleton. Fantastic stuff.


but thats for another thread