Did it ever make sense to move from an old combustion car to a new EV

I forgot this is boards…

😆

More power, mpg, mpge, no serpentine belt and ancillaries in the Toyota, heat pump in the Toyota, ecvt rather than a automatic doing something it was never designed for, and sufficiently bulletproof for New York cabbies!

I would say it makes sense for us (trading up from a 192 Tiguan 87000kms to a new ID4 Life DX for €9500). Its cost positive over 5yrs (€1200/year savings on fuel plus residual values will be a lot higher on a 5yr old ID4 vs a 10yr old Tiguan with double the mileage. Wall charger cost (€600 after grant) offset by lower annual motor tax.

Thats the only reason we are changing!

How much are you repaying PM currently on the Tiguan?

How much will you be repaying on the ID4 PM?

It’s an R-Line Tiguan to be clear (DSG & Leather, one owner). No finance on either, paying cash to trade up.

Dealer have them listed 38-40k although one dealer dropped his R-line to 33.6k. Unless VW giving them good margin on the ID4, I don’t see much on it for them. Probably 3k. We paid €44k for the Tiguan in 2019.

And for the unbelievers, a simplified total cost of ownership calc. €1967 = depreciation of the car over the 3 years I owned it. Bought for €25400 brand new on the road price, sold for €19500 privately

You have amazing insight into my posting history. For a user who only signed up to boards a few days ago. Although it seems you have misunderstood my postings on EVs over the last 8-9 years or so.

He's worth stalking, he's a gold mine of information. Even if you disagree with it.

Yep appears to be a knowledgeable fella across areas such as solar, ev, crypto and motors from what I read on here and appears to have things nicely set up.

Interesting costings. the only part I disagree with is the zero listed for opportunity cost/funding cost on the EV. There is a higher initial cost, and that has a cost associated. Even if you're lucky enough to buy with savings, the cost associated with tying up 25k of cash in a non appreciating asset(especially as that was an era of near zero yearly inflation) are not zero.

Bought car with savings, money was sitting in the bank, not used. At the time, there were no longer any savings accounts that paid more than a few tens of a percent interest, so negligible. Like you say, there was no inflation to speak of at the time. These days in that situation, the opportunity costs would be negative because of inflation!

Of course had I bought the car on PCP / with a loan, the cost of finance should have been taken into account in total cost of ownership calculation

That's a tough ask in any motoring domain, let alone a fast changing one like EVs.

EVs in 2024 and 2034 may be like chalk & cheese potentially.

Now I do believe you have changed your tune and finally seen sense!

Congrats!

Nah I’ve taken on board your points but your wrong.

Anyway it’s been done to death I thought you’d turned over a new leaf (pun intended 😂).

Re the original question.

Was well aware of my potential ICE car options before i bought my 2nd hand Ioniq 28 in 2021.

Had been driving two old diesels previously.

Considered various ICE car options at various times in the 10 years pre buying the EV.

When I made the decision to buy I knew I wanted (not needed) a new to me car and that I wanted it to be electric.

Because I enjoyed the EV test drives I'd had pre Covid.

My impression from the Leaf 40 test drive (in 2019) was pretty much that if it wasn't for rapidgate* I'd have pretty much bought the one with the light coloured interior in showroom there and then.

From a purely financial viewpoint - I'd be better off buying stuff like Mondeos for 7000 euro or so at the time.

And yes I did consider buying a Mk 4 Mondeo as that would be less money out of my bank account on day 1 of ownership. But those were mostly DIESELS - so no.....

But from an ownership enjoyment viewpoint it's been worth every penny.

Which is good because I paid 22.5 k cash for it.

Drove the diesel crossover my brother owns - yesterday.

And the thing pretty much irritated me.

No regen braking is a dealbreaker - because regen braking that works well makes for a nicer drive.

The question of whether it's worth changing to an EV from an older is a very individual question.

Because it depends on the persons priorities.

The EV savings you hear about are easiest to justify if you actually need or want a fairly new car anyway.

If you run a 2007 Corolla that's going well and the EV you want is 30 grand then the reality is that 30 grand would last you a long time putting fuel in the Corolla and keeping it on the road.

Hence why its an individual decision.

*I thought rapidgate was an indicator of a car whose battery might not have the best durability in long term. Thought an actively cooled battery was the obvious choice for reliability.

Not really 😂🤦‍♂️👍

An economist, an accountant and a fintech specialist say so in the last few posts. But of course @tom1ie is telling them all they are wrong 😂

😂 unfortunately to continue this conversation further I think a new thread would be required based off prior direction @liamog am I right in saying that?

How is that even a question for anyone beyond the junior cert.

What part are you disagreeing with?

Which is what I am debating?

Spending money upfront, secured via a loan, to spend on an EV, to save money on fuel.

Surely this is exactly what the thread is about 🤔

I’m only replying to certain posters that keep stating the opposite.

Surely a discussion thread needs all sides of the discussion addressed, unless only one side should be discussed?

I can only speak of my own experience. I used to drive an 08 Mazda 6 and it was getting to the money pit stage as more things were failing (over 340,000 km on the clock). The average monthly cost of running the Mazda was €399.58 - that's fuel, tax, insurance, NCT, and maintenance.

I switched to an MG4 and the average monthly cost thus far is €577.57 - this includes all of the above and the repayments of a 5-year loan. It's costing me €178 more per month for a new car, or just over €40 per week and I felt this was good value for the peace of mind of the warranty and the reliability of a new car... not to mention the extra comfort and safety. My wife uses the car when I am not, and her fuel bill is about 1/3 of what it was, it's probably saving her around €80 a month too, but I am not factoring that in. I also have a large solar array and I'm generating a surplus from April - October and from May - Aug, I'm generating around 3 times what my daily usage would be, so powering the car costs very little.

The car will depreciate, but the reality is that after 3 years I will have paid €22,350 and I will have to pay back the balance of the loan which will be a further €13,440 - a total outlay of €35,790 and it's realistic to expect the car would be worth at least €15k (3-year-old car with approx 50,000 km on the clock). Total outlay minus resale = €20,790.

With the Mazda, I would have paid €14,384 and have nothing at the end (realistically, it would probably cost more with major jobs required). Therefore, the difference in cost over 3 years is €6,406, but it could easily be less than €5,000.

I considered getting a 5-year-old diesel and I was looking at north of €15,000 - add in fuel, NCT, Servicing, Tax, and Insurance and it would cost more than the new EV, hence why I chose the EV.