JustTheGent
Well-known member
The running costs are important but so is the initial cost of the vehicle. Knowing the initial fixed cost of purchase is vital for most people. Get that out the way and then you can start to work out other calculations. But it's foolhardy to just roll it all into one in the form of a monthly payment, at least for most people. Nothing illustrates that more than the times we currently live in. Those going for electric vehicles pre pandemic won't have been hitting the expected savings on fuel, far from it. That's just a simple example of how running costs are variable.The running costs are important, extremely important when electric is 1/4 the price of fuel, and VED is free. But you can estimate, and have margins of error/ or change of use estimates which is what I do.
Most batteries are covered for 7/8 years, or 100,000 miles, along with the motor, not many engines are covered for that, certainly not high performance ones. There's less to "go wrong" in an electric motor, as they're effectively brushless, and brushless high power motors have been used for decades. The batteries are proven tech, with a proven lifecycle.
Obv an electric car isn't paying for a fan belt, clutch, brakes, pads etc. Who would buy a 70k mile car and not be worried about any of those going, and of course going out of warranty? How much is a new 400BHP engine from BMW, Porsche, Merc etc including labour? 20k+?
I fully expect ICE vehicles to drop like a stone once EV's get to half the market. Diesels will sink first, and 2022 will be the first year electrics out sell diesels.
There will be a clamour of people coming round to the idea of EV's and then to sell diesels, then petrol's etc. Classic cars and one-offs might escape, but 95% of ICE cars are not in that category.
I've got and expensive EV, and getting an even more expensive one, but the model works the same for a 30k or 40k one and other numbers, it just scales down.
Different on used markets, as there's not much choice in used EV's from BMW, Audi, Merc, VW etc, but give it a few years and they will filter down.
Most of my comparisons are on new, like for like cars. That argument is already won by EV's, which will mean it's won in 3 years when they trickle down. There will be a big ICE sell off from 2025-2030 I expect, so you've got a good few years of relatively safe ICE motoring before then.
BMW, Porsche and Mercedes are known as some of the most unreliable used vehicles on the market. As they age, the technology in them breaks down meaning potential huge repair bills. Electric vehicles are loaded with technology, so these will more than likely have big problems in the future. The more complex something is the more difficult and expensive it is to fix. Give me brake pads and fan belts anytime - just take it to a good independent mechanic to get fixed at a fair price.
I hope petrol and diesels do fall in price, it will make them an even better buy over EVs than they are already. But there's no sign of that at the moment, used petrols and diesels are trading at record highs.
With regards to battery warranty, you've got to be careful what the warranty actually says. I know someone who had their EV range vastly reduced but was told there was nothing wrong with the battery. It was said that the battery deteriorates naturally and this was backed up in the small print.
In terms of ICE motoring, of course it's safe. I'm already winning by saving a fortune not having spent a fortune on an EV. Long may it continue