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Well, to be accurate, one should not use 50 or 60k, but rather the difference between buying an EV vs buying a conventional ICE vehicle. Secondly, Biden must have misspoke, because most people spend more like $80 per week, not per month.
So, let's assume that buying an electric vehicle costs you $10k more than a comparable ICE vehicle, then your breakeven point is more like 30 months. That's not bad.
That assumes you're currently in the market for a car and you would buy a car regardless. Most people already own a car and for a good portion of those car owners, their cars are already paid off. So you would have to run the numbers on the full acquisition cost, not the price difference. No one's going to ditch their fully paid off fully depreciated car that has another 100k miles left in it to save $80/month or whatever on gas.
As for me, I filled up for the first time in two months last weekend. Cost me $40. My break even point even at the $10k price difference is something like 500 months. No thanks.
#1 - Biden said nothing about buying a $50,000 EV
#2 - A 5 second search shows several EVs well below 50k, in the 20 to 30k range.
#3 - The Build Back Better Plan intends to offer as much as a $12,500 rebate on EV purchase
#4 - Cons don't care about any of this because it doesn't fit their narrative to make Biden look bad therefor " Buy A $50,000 EV And "Save About $80 A Month" fitstheir spin a lot better.
Let try to actually be real for 30 seconds.
A 25k economy gas car with an assumed life span of 8 years (96 months). 25k plus $40 bucks a week ($16,640 for 8 years) for gas .... that's $433 a month for car and gas.
A 25K EV (less a build back better rebate, lets say a minimum of 5k rebate). According to Kelly Blue Book, it will cost about $55 a month ($5,280 for 8 years) to charge an EV at home. That totals out to about $263 a month for car and electricity.
Yeah, yeah ... there are a lot of variables ... but it should be obvious EVs can be a lot cheaper to operate on average, which is basically Biden's point . Trying to discredit that requires one more big lie.
I just looked and it seems there currently are tax incentives to purchase an EV? The Rivian has a 7500 one right now. Is Biden thinking of offering an extra 5000?
Pay $50,000 in order to save $80.00 That makes sense inside the beltway but out in the real world where a household budget is more than just numbers on a piece of paper it is insanity.
These people are so out of touch with reality and that is why I think that we should start requiring that anyone that runs for any seat above the town Dog Catcher needs to have successfully run a small business for at least 1 year.
That assumes you're currently in the market for a car and you would buy a car regardless. Most people already own a car and for a good portion of those car owners, their cars are already paid off. So you would have to run the numbers on the full acquisition cost, not the price difference. No one's going to ditch their fully paid off fully depreciated car that has another 100k miles left in it to save $80/month or whatever on gas.
As for me, I filled up for the first time in two months last weekend. Cost me $40. My break even point even at the $10k price difference is something like 500 months. No thanks.
Does Tesla take trade ins? That sort of matters, I honestly don't know. Can I bring my Yukon In and ride away in a Tesla?
Pay $50,000 in order to save $80.00 That makes sense inside the beltway but out in the real world where a household budget is more than just numbers on a piece of paper it is insanity.
These people are so out of touch with reality and that is why I think that we should start requiring that anyone that runs for any seat above the town Dog Catcher needs to have successfully run a small business for at least 1 year.
Yes indeed. There are many plusses in being totally detached from reality. Which is easy to achieve when you've been "serving" for 50 years, operating in Unrealityland.
Location: In the middle of nowhere... and enjoying it
1,949 posts, read 834,943 times
Reputation: 1807
Quote:
Originally Posted by ditchoc
#1 - Biden said nothing about buying a $50,000 EV
#2 - A 5 second search shows several EVs well below 50k, in the 20 to 30k range.
#3 - The Build Back Better Plan intends to offer as much as a $12,500 rebate on EV purchase
#4 - Cons don't care about any of this because it doesn't fit their narrative to make Biden look bad therefor " Buy A $50,000 EV And "Save About $80 A Month" fitstheir spin a lot better.
Let try to actually be real for 30 seconds.
A 25k economy gas car with an assumed life span of 8 years (96 months). 25k plus $40 bucks a week ($16,640 for 8 years) for gas .... that's $433 a month for car and gas.
A 25K EV (less a build back better rebate, lets say a minimum of 5k rebate). According to Kelly Blue Book, it will cost about $55 a month ($5,280 for 8 years) to charge an EV at home. That totals out to about $263 a month for car and electricity.
Yeah, yeah ... there are a lot of variables ... but it should be obvious EVs can be a lot cheaper to operate on average, which is basically Biden's point . Trying to discredit that requires one more big lie.
According to Quartz, the average cost of a new car in June 2019 in the U.S. was $36,600. This was a 2% increase from the year before. However, according to data from Cox Automotive, the average cost of an electric vehicle decreased from $64,300 to $55,600
That $20K spread in the average cost works out to about $400 a month in car payments. Difficult for the ave Joe to spend that much more for a set of wheels, a lot of them might not even qualify for the additional loan amount.
Does Tesla take trade ins? That sort of matters, I honestly don't know. Can I bring my Yukon In and ride away in a Tesla?
I don't know. I suppose you could sell your car to Carvana and put that money toward an EV. It would still require incremental Capex and for me, there would have to be an extremely strong financial case for me to even consider going through the hassle.
I personally have zero desire to spend the kind of money I would need to to get a comparably equipped Tesla on any car, unless I was absolutely loaded, in which case the cost of gas wouldn't even be a consideration.
It certainly has worked for me. Of course not without subsidies, which may no longer be useful enough.
So basically you need my help to make it work for you.
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