Road Tax on EV's

MouldyOldDough

Jenni_D said:

What did that IC vehicle cost in the first place? And what has been the lifetime cost of ownership?

If you're going to try and make comparisons, please be consistent.

In my case - the IC vehicle cost £15,000, 4 years ago and has done less than 20,000 since then - at 50mpg = 400 gallons @ average £5.50 per gallon = £2200 or approx 10p per mile. It has not broken down.

And servicing is similar - road tax is neglible (£30) and insurance costs (average £150 is going to be considerably lower in my car than a brand new EV).

Compare that to a brand new EV ( £35k+ @ 5p per mile) - its going to take many years to become cheaper for me to run an EV.

Plus the added fact that not everybody can afford £35k for a car in the first place

See where I am going with this ?

ElefantEd

Was your IC vehicle new? Again, compare like with like.

I definitely couldn't afford (nor would want) a new car of any stripe, but bought a second hand EV for about £15k, with zero road tax, cheap insurance, cheap maintenance (less than an ICE, there's simply less to go wrong) and a per mile cost of about 2p. See where I am going with this?

Herzlos

MouldyOldDough said:

 and insurance costs (average £150 is going to be considerably lower in my car than a brand new EV)

What makes you think that? I went for an 8 year old worth £8k car to a 6 month old car worth £20k that was a much higher insurance group, and my insurance went down 25%. The actual replacement cost of the car is a lot less relevant than safety kit.

You can also get new EV's for less than £35k. List price on a Leaf is £28,500. It's about the same size as a Focus, and is about the same price as a similar specced Focus (given a top spec Vignale is £28k and a base spec focus is £21,500).

But yeah, if you're comparing an 8 year old hatchback to a new EVm the 8 year old one is almost certainly going to work out cheaper unless you're doing highish miles.

MouldyOldDough

ElefantEd said:

Was your IC vehicle new? Again, compare like with like.

I definitely couldn't afford (nor would want) a new car of any stripe, but bought a second hand EV for about £15k, with zero road tax, cheap insurance, cheap maintenance (less than an ICE, there's simply less to go wrong) and a per mile cost of about 2p. See where I am going with this?

My I.C was brand new with 3 year warranty - not that I've had to use it 
 what's the insurance cost of an EV?
less than £150?
You compare like-cost with like-cost

According to what I read 5p per mile for an EV

https://insights.leaseplan.co.uk/electric-vehicles/ev-news/electric-vehicle-cost/

Petriix

I paid £23k for my MG5. That's roughly what I could sell it for today. I've done 13.5k miles at an approximate cost of £150 for charging and £33 for maintenance. I've paid about £400 in interest on the money I borrowed to make the purchase. Insurance has been broadly similar to what I was paying before.

I appreciate that not everyone can borrow £20k at 1.84%. But keeping my old car on the road over the same period/milage would have cost £2,500-3,000. I was anticipating that depreciation would have swallowed that saving, but that would have made it cost-neutral. As it happens I'm ~ £2k to the good; all while upgrading from a 16 year old car to a brand new one.

MouldyOldDough

ElefantEd said:

Was your IC vehicle new? Again, compare like with like.

I definitely couldn't afford (nor would want) a new car of any stripe, but bought a second hand EV for about £15k, with zero road tax, cheap insurance, cheap maintenance (less than an ICE, there's simply less to go wrong) and a per mile cost of about 2p. See where I am going with this?

Where do you get 2p per mile from ?

Try 5p per mile - and this can only increase (double ? with increasing energy costs) to make it similar  to my 50mpg running costs of 10p per mile

Road tax - neglible gains (mine is only £30 pa)

And as I keep saying - mine is already owned - saving £15k or whatever

its win win for me

ComicGeek

MouldyOldDough said:

ElefantEd said:

Was your IC vehicle new? Again, compare like with like.

I definitely couldn't afford (nor would want) a new car of any stripe, but bought a second hand EV for about £15k, with zero road tax, cheap insurance, cheap maintenance (less than an ICE, there's simply less to go wrong) and a per mile cost of about 2p. See where I am going with this?

Where do you get 2p per mile from ?

Try 5p per mile - and this can only increase (double ? with increasing energy costs) to make it similar  to my 50mpg running costs of 10p per mile

Road tax - neglible gains (mine is only £30 pa)

And as I keep saying - mine is already owned - saving £15k or whatever

its win win for me

If someone else in your position was doing a higher annual mileage then it might still make sense to sell the existing ICE and buy a second hand EV. What will you do when your current car becomes uneconomical to maintain and you need to get a new car anyway? At that point it would be worth considering a EV, and a lot of second hand EVs with decent range will be coming through.

I charge my car for 7.5p/kWh, and get currently 3.8 miles/kWh, so that is 2p per mile for me. My energy costs have already increased to this, and are fixed for 12 months - yes, there may be increases beyond this but likely to be matched in fuel cost rises. 

Herzlos

MouldyOldDough said:

ElefantEd said:

Was your IC vehicle new? Again, compare like with like.

I definitely couldn't afford (nor would want) a new car of any stripe, but bought a second hand EV for about £15k, with zero road tax, cheap insurance, cheap maintenance (less than an ICE, there's simply less to go wrong) and a per mile cost of about 2p. See where I am going with this?

Where do you get 2p per mile from ?

Try 5p per mile - and this can only increase (double ? with increasing energy costs) to make it similar  to my 50mpg running costs of 10p per mile

Are you sure your 50mpg is only costing you 10p/mile? Because diesel at £1.48/l works out at about 13.5p/mile and I haven't seen it that cheap in a long time. I think I paid £1.79.9 last time which would be 16.3p/mile.

It's pretty disingenuous to try and claim that electric prices increasing will affect EV's but ignoring fuel price increases.

2p/mile is easily achieved. That's 4miles/kwh at a charging rate of 8p/kwh which is higher that some EV plans (I think Octopus is now 7.5p/kwh for new customers and 5p/kwh for existing).

Jenni_D

I've been tracking my fuel efficiency fill-fill for several years. My current diesel car gets ~47 mpg average. My last fill up was at £1.58.9 and the calculated cost was 15.4p per mile. I have never achieved 10p per mile, even with 50 mpg and fuel cost under £1.10 - lowest I can remember was 11p per mile. (And this is fuel-only cost).

@MouldyOldDough is living in dreamland if they think they get 10p per mile from 50 mpg, especially with current fuel prices.

Edit: I must apologise - I have in fact achieved 10p per mile ... 3 times ... in 4.5 years.

Grey_Critic

I found this rather interesting.

https://www.telegraph.co.uk/technology/2022/03/28/electric-cars-have-dirty-secret/