Is it worth me switching to an EV?

thejinkazama

Hi,

I currently own a 19 plate Focus ST Line (petrol) outright. It has some cosmetic damage but full service and MOT history. I usually do around 10,000 miles annually. I don't change cars frequently.

I am considering switching to an EV to save on fuel costs. I would purchase a home charger if so. I'm not really bothered about cars anymore so would happily buy a used budget car (ideally with low mileage). Based on my research, I could get around 5k for my car and therefore (only) need to put a few grand towards an EV.

With what I've said, does this make economical sense or would I be better holding on to my petrol car?

Thanks

Newbie_John

800 litres vs 3000kWh

£1272 vs (£240 - £720) (depends what rate at home you get, I showed range for 8p - 24p)

I'm probably in similar situation as you - my next car will definitely be EV - just not in a rush now, will try to squeeze as much as possible from a current car.

facade

Petrol is about £1.60 a litre and an ST might get 40MPG.

10,000 miles would take about 250 gallons, which costs £1812.
An economical EV might average 5 miles/kWh so you'd use 2000kWh on Octopus Go at 9.5p a kWh costing £190 or standard rate 25p costing £500.

So you'd save £1622 or £1312 a year. If the EV only averages 4miles/kWh you would be paying out 25% more for electricity

If you can buy an EV that lasts 5 years for under £13K (£5K + 5x£1622) then you will be a winner, provided prices of petrol and electricity don't change much when The Other War That Isn't In The News Much Now Either ends (or escalates...).

(You can buy a pre-reg Dacia Spring for around £10K, but whether it will last 5 years through British Winters with all the corrosive salt on the roads is anyone's guess, 10,000 a year is around 40 miles a day, which a Spring will easily manage, and recharge from a 13A socket in around 4 hours during Octopus Go)

There are other costs, like super special EV tyres, but an ST uses super special go faster tyres which would be around the same price, and last about as long.

In general, buying a new car to save on fuel costs doesn't work unless you do starship mileages, but if you want a new car anyway, things are different.

daveyjp

Switch because a pure EV suits your needs, not for a saving on just one element of the whole life costs of a vehicle as other costs may be higher.

thejinkazama

Thank you all for your input. What else should I be considering, aside from fuel costs?

Woodstok2000

https://forums.moneysavingexpert.com/discussion/comment/82119469#Comment_82119469

Insurance can be slightly higher for EVs. Servicing costs are generally much lower.

Totally subjective, but driving an EV is a world away from an ICE. I would happily pay more for the ease of use of an EV, just happy I currently don't have to!

facade

https://forums.moneysavingexpert.com/discussion/comment/82119469#Comment_82119469

EVs suffer from large depreciation (from new), some of them suffer from failures of the complex electronics and there are very few garages that are prepared to fix them outside of eye-wateringly expensive main dealers with extremely long wait times even if you can afford the bill, or have a warranty (Avoid Stellantis for this reason)

Tesla, Original BMW I3 (a geat car, you'd like it compared to your ST, but getting a bit long in the tooth now and has low range), Renault Zoe & Nissan Leaf are commonly fixable.

If your ST breaks, there are hundreds of independents who will repair it, spare parts are plentiful, and only high cost. You can even do most of the repairs yourself if you are so inclined, with common tools. Not so an EV, apart from brake pads and suspension parts.

fatbelly

II was thinking to keep the until i realised it probably has the ecoboost 1.0 engine.

Tree_pipe99

Work out the longest daily distance you will be driving as that will determine what range you need from an EV and if home charging will cover it.

If home charging can cover almost all of your needs then an EV is a no-brainer.

But that changes if you need to use public chargers for a significant amount. Public chargers can be as expensive (or even more expensive) than petrol.

Bendo

Don't forget to factor in eVED which is coming soon. https://www.gov.uk/government/publications/electric-vehicle-excise-duty-eved/electric-vehicle-excise-duty-eved

born_again

https://forums.moneysavingexpert.com/discussion/comment/82119633#Comment_82119633

Current cost for home charging a EV 2p a mile. If they actually add the 3 p a mile, that 5 p a mile. Can you think of a ICE that costs that little?

makes a PHEV even more pointless at 1.5p a mile.