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!!!

  • Impressive_ReturnsBEnglish
    1·
    1 year ago

    OP you are the only one not seeing the long term savings. Sadly you are missing out. Something else you’re missing out on is there is free charging. And that if you have an EV you get a lower rate on your electric bill. I”m saving over $700 per year. Being a California resident you could have gotten a $15,000 in cash rebates and tax credits for buying a new EV like I did. Sadly your waiting means you just missed out on a $!,500 from the government. If you keep waiting you will lose out on thousands more.