I have a 2022 Bolt. It's a great car. In July I calculated it costs me $12 to drive 670 miles. If we drove our ICE car those same miles it would have cost $112. So a $100 / month savings. Plus the Bolt is a lot more fun to drive.
@@waylonmccrae3546 Happy to say way longer than you think. Battery chemistry has gotten very good in the last 10 years. Degradation had been shown to be roughly ~5% over 10 years, no replacement necessary. Plus, batteries are not thrown away at the end of their lives. All the parts are recycled. That's why I think that the calculations in this video are being extremely conservative when it comes to resale value. They're going to be worth a lot more than their gas counterpart when it comes time to sell.
Couldn't agree more! I've had my 2019 Bolt EV Premier for almost 4 years now (including 4 Canadian winters) and it is THE best car in my life! Incredibly reliable, ridiculously cheap to operate, silent as a cobra, fast as a bolt! :)
Andy: Another component in TCO analysis is insurance. Like loan payment the insurance premium depends on so many personal factors. It is difficult to generalize here. For my case, my insurance company does not favor or penalize Bolt EV. The premium is the same as a conventional vehicle with the same MSRP.
I own a bolt and would like to mention that you don't always get 4miles per kWh. In fact, you can get as low as 2mi/kWh in the winter. Also the biggest negative is traveling in a ev, you never know if a charger will be working or if someone is using it, the time it takes to charge your ev is a big negative, Rates can also be higher than 50cents a kWh on some of these chargers. I would not recommend a ev to anyone that has to do a lot of traveling. Another fact is you will have to pay more to plate and insure your ev. Where I live they tack on an additional $200 a year because of the gas tax you’re not paying. I think most people are not paying 4.57 a gallon for gasoline, my last fill up in my truck I paid $1.90 a gallon. There are many ways to get your gasoline price down if you use certain credit cards along with other incentives. If I could do it all over I would pick something like a corolla hybrid or other 50mpg+ car, or better yet a 40mpg car like a elantra that you can pick up 15 to 18k. The bolt has been a great little car, I do like it, you can’t beat an electric drive train, its smooth and powerful, but that's where the advantages end. i think you can save more if you buy certain gasoline cars over an ev.
Actually, you can get as low as 0.5 miles per kWh, if you’re holding the pedal to the floor and blasting the heat with all the windows down on a -10F day. Just a minor correction there. As for your claim of gas being 1.90/gal, nice try; cheapest I can find anywhere in the US is a Loves in Nebraska that put their price at 30 cents (clearly a typo, since everything else in the state is $3+). Next would be 2.60 on the Mississippi side of the MS/AL line. As for your assertion that gas is cheaper, I already did the math on that long ago. For gas to exactly match the operational cost of an EV, 4 things must be true at the same time: Gas price no greater than $1.50/gal; Electric price no less than 0.20/kWh (rare, outside California in the summer); Gas car gets unconditionally no less than 30mpg (even a Prius doesn’t); EV gets unconditionally no more than 3 miles per kWh (which is tough to do unless you’re actively trying). Also, you mention winter cutting efficiency on the EV, as if gas vehicles don’t lose efficiency in the same conditions. I mean, I guess I shouldn’t expect honesty from someone who quoted gas prices being 70 cents a gallon lower than the lowest in the US, but jeeze.
Back in 2006, I ran these exact same calculations between buying my Generation 2 Toyota Prius, and a much less expensive, but non hybrid Yaris. Back then, gasoline was ~$3.00 per gallon. When I ran the numbers, it turned out, that I needed to drive the Prius 240,000 miles, to make up the difference in purchase price in fuel savings. I now have ~295,000 miles on the Prius, and the car still runs like new. I've saved money on fuel. I've been lucky, and have NOT had to replace the Synergy Drive battery, a cost of ~$3,000 dollars. If I had to, that would reduce the advantage of the Hybrid, but the hybrid is still the winner. The REAL savings is the maintenance costs like the starter motor, alternator, vacuum brake booster, Power Steering pump, or the clutch. The Prius doesn't have these expensive components, which by now, would surely have been replaced. Another huge savings, is that I needed a brake job at 270,000 miles, owing to regenerative braking. I probably won't need another brake job for the rest of the life of the car. In your comparison between the Trax and the Bolt, know, that the brakes are another opportunity in long term savings, because the regenerative braking in the Bolt is superior to the Toyota Prius. (2006) Theoretically, the Bolt won't need a brake job, but depending on how it's driven, you very likely won't do it twice in the lifetime of the car. The caveat...The battery in the Bolt costs more than $3,000! The good thing is, if you charge level 1 or level 2 at home, you should have no problem getting at least 300,000 miles out of the battery. By the time you need one, you will likely be able to find a battery with more capacity, at a lower cost. (If you keep the car that long)
What used to stop me from considering an EV was the mind blowing battery replacement cost which offsets all the fuel cost you'd pay for a combustion car. But now, some manufacturers offer free battery replacement so now, it's an easy choice.
Randomly watching this, not buying a car but on behalf of everyone who is, thank you for such a well explained video. This is the kind of stuff people want to know but they don't always want to do the math so thanks on behalf of everyone.
Andy: as a Bolt owner your maintenance cost estimate is about right. I pay $25 to rotate the tires once a year and $50 for vehicle inspection. Over 5 years, I have changed the windscreen wipers once, which costs about $70 (2 front and 1 rear).
With the gallon at about $6.50 and electricity between 0.07 and 0.11 cents/kw, the choice is clear up here in Quebec. The only problem is the 18-24 months waiting list to get a Bolt at the moment. :(
Thanks for the breakdown. I charge for free from my paid off PV system. The difference is that you never have that option with a gas car so it's not even close to a choice for me as I've been driving Bolts for the last six years for free and the higher gas goes the more I save. This is one of the things people don't realize PV and EV hedge inflation. Electricity goes up, gas goes up, it means nothing to me. The reason you can't find maintenance costs on the Bolt is because there aren't any. The manual says change the cabin filter and rotate the tires for the first 150k miles. There are other things too, if you charge at home you're never wasting time going to gas stations and you're never taking time to have oils changed, air filters, etc. Those $5k plus repair costs mean that's your time and time I'm not wasting. Time is money, you have to account for that too.
Buy one used. Best way to buy an EV. They don’t hold their value well, yet. Got a 2019 Bolt for under 9k. Got the new battery under the recall. Love the car and I use mostly free public charging so it’s been very little money spent on electricity. I even drove over 1000 miles over a period of time without using my own electricity. Used all free public charging. Saving quite a bit of moneyversus if I bought an ICE car for 9k.
Great fair comparison. My back of the envelope calculations when I have looked at an EV vs a similar ICE vehicle came out the same. Basically at 3 years, the EV is break even with ICE and after that the EV starts saving you money. After 3 years, the ICE vehicle will start costing you more as the warranty expires and the parts start to need replacing.
i own a 10 year old EV and 10 years in i am at close to 1200 in maintenance. this is between rusted brake rotors which never got used, and two failed wheel barings from putting 130,000 on the car. the car has no lost range vs new and it runs as new still. it has used 4 sets of tires which were the highest maintenance cost.
Andy: It is worthwhile to mention the federal tax credit and other state incentives available to Bolt. If your viewers are eligible, the initial cost of a Bolt is much cheaper than a Trax. Then there is no need to do TCO calculation.
It does cost more to register the Bolt per year (to make up for the gas taxes you aren’t paying) in my state, but that works out to less than $20 a month so the Bolt still comes out well ahead. And ironically these are the two cars I’ve considered buying. I test drove the Trax. It’s very utilitarian. It would work, but the Bolt (esp the EUV) is a step or two above in terms of comfort and such. The Trax doesn’t even have a center console for example. It feels tinier (because it is inside.) You’d be paying more, overall, for discernably less. I think insurance is less on an EV too (but that could vary.)
I suspect that will come to every state at some point. Texas had a proposal around $250-450 per year on top of the gas car registration but it didn't pass in that session. I have nothing against such a fee *but* it needs to not be higher than the amount of lost fuel revenue. I calculated how much fuel tax the state gets on 12k miles per year based on average fuel economy and it's about a third of that they were proposing so EV drivers would have been paying 3x more for the roads than gas cars which is clearly not acceptable.
@T R I ended up leasing a Model 3. GM was taking way too long to build my Bolt, the Model 3 lease was cheaper than buying the Bolt and I got the Model 3 a week after my deposit (vs putting down a deposit on a Bolt in October and… I’d still have a couple months to wait from now at best!) And, our insurance went DOWN adding the Model 3 (it would have been even lower with a Bolt I imagine.) Good luck getting the Bolt! It is very efficient, that makes up for slow charging to a large degree!
@T R If you get winter tires and have a garage you should be ok in the winter. It’ll lose some range but not enough to make it unusable at all. The slow charging will be the issue when on longer winter trips. Heating up the battery with hard acceleration and regen cycles en route to the charger may help. Some swear by it, other say it’s does nothing. I dunno.
What people have to keep in mind with the Mini comparison is that none of the EV's based on ICE cars, like the Mini, the Soul, the Kona, etc. is that they are inferior cars compared to purpose-built EV's which all charge faster and have much longer range.
A battery replacement for the Bolt is estimated to be around _$17,000_ including labor. I worry when 65% of the price of the vehicle is wrapped up in one component.
The battery warranty is 8 years or 100,000 miles. Plus, all older Bolts will have had the battery replaced (eventually) due to a recall so that warranty starts all over again. A Bolt owner could theoretically have their battery covered for 200,000 miles. Battery replacement should not even be a consideration.
And how much do you estimate it costs to replace the engine or transmission in an ICE vehicle? Because I’ve had shops quote an average cost of 12k, parts and labor, assuming that they don’t find anything else that needs fixing. And that’s for a used engine, as pulled from a junkyard heap. For a decent rebuilt engine, 18-22k is cheap. And don’t even get me started on DFC transmissions and their reputation of being complete waste-of-metal garbage.
Also - you NEVER get free gas ever! When I go to Grocery store there is free charging which I do once a week, I don’t linger any longer than planned to get more charge just go shop and leave and in 6 months I have not paid anything towards charging cost! I never have to charge at home - I do however work from home and dont drive that much but again you NEVER get free gas!
this is a great break down! i have a 2020 chevy trax and didnt even know this thing existed. saw one out on the road and it looked so similar, i thought it was an electric trax
First. I have spent NOTHING on my bolt for 2 years other than plugging it in every day. Second if you purchase a gas car in about 4 years the value of your car is going to fall DRAMATICALLY. This trend has already been confirmed by multiple studies. EV's values go up and ICE... NOT SO MUCH!
I have a bolt and what got me in the Bolt in May 2019 and was able to get the $10k-$12k subsidy. So that would drastically change and skew the numbers. I am a heavy user and have driven 104,000 in 3.5 years. I think that the numbers work well for the long run for the Bolt over the Bolt or most ICE vehicles comparison. Plus my area gives rebates if you have a EV and the electric prices are lowered to .10 cents a kWh. But charging is around $20 for fast charge and that is where the numbers are skewed a little more and dependant on area access and availability. But I can write those off as i use my EV for driving to meetings and I get paid .62 cents a km, but if I use any ICE vehicle I would generally make less as the price of fuel fluctuates wildly and Electric prices are a constant set price. But I like your assessment of possible light use, and a bolt is a better EV as you don’t need a $12,000 down payment to finance a any Tesla EV. So not all EV’s are the same….
There’s a reason why they still sell whole bunch of gasoline powered cars in the US more than electrical cars. We travel a lot and a battery powered car can I travel as much as a gasoline car?
Thanks for the very detailed video! I hope that as many people as possible will see it and will not stop telling lies that electric cars are more expensive than conventional cars.
Maintenance for EVs vs. fuel based vehicles is no contest. I've forked out less than $500 in total (even with a flat tire replacement) in the 11 years of driving my Nissan Leaf (still on original battery). However, a recent study has shown that carbon wise if you account for the production of an EV and its battery that the range capacity of that EV is a major determining factor of when the EV saves more carbon than a gas vehicle. For every 100 mile range capacity battery requires the EV to be driven 100k miles before it actually saves more carbon than a fuel based vehicle.
Well spotted! I should have explained that I made allowance for the fact that it takes more than 65kWh to fill a 65kWh battery as home chargers are typically just over 80% efficient. Looks like I used 78kWh which means 17/18% loss to charger inefficiency.
@@AndysComputer Good point. Is that for both Level 2 and Level 1 trickle chargers? We use a standard 120v outlet for 99% of our charging (2020 Niro EV) and it’s great, especially at $0.09 per kWh!
@@drewmcdougall891 Level 1 is less efficient than Level 2. So on a 120v trickle charge only 70% makes it to the battery, about 80% on a Level 2 and about 92 or 93% on a DV fast charger. The numbers vary across cars but this is a rough rule of thumb I did a video comparing charging the Mini on Level 1 vs Level 2.
This is an older video, but by next year, the savings will be even more. The tax credit turns into a point of sale credit. So what was almost $27,000 MSRP would go down to close to $19,500. Whew
The maintenance schedule for the Bolt only list replacing windshield wiper blades, in-cabin air filters, and the gas struts for the rear hatch over the first 150k miles.
Probably also need to replace the 12 volt battery a couple of times. I have replaced the 12 volt battery in my Tesla twice in about 6 years. It's also the only car that I haven't changed myself ( not easy to change) so it was much more expensive than any ice car I've owned.
The Bolt now qualifies for $7,500 tax credit so it's even a better deal. On the flip side the price of gas has dropped a lot and is now down to $4.49 per gallon in California and much lower in most other states. The cost to charge at my home in Northern California PG&E EV rate is 24.17 cents per kwh from 12 midnight to 3 pm. 4-9 pm is up to 55 cents per kwh. Cost to charge away from home can very from 0 to over 50 cents per kwh. I actually have free supercharging for life. However what I paid for my Tesla S P85 dl will never pay out through fuel and maintenance savings. By the way one maintenance cost typically higher on an EV is tires because they weigh so much more they wear the tires out quicker. Without the $7,500 tax deduction the Toyota Prius is a great choice on overall cost getting over 50 mph and costing about the same as the Bolt. If you can't charge at home or take many trips and need to charge away from home the Prius is probably lower overall cost.
Yes I agree, great breakdown between electric and gas vehicles. I definitely want to break away from buying gas. I am single, retired, and will be doing just around town or short single charge trips with an EV. Illinois is now starting to add back 42 cent gas taxes in Jan and Jun of 2023. So just when gas is decreasing a little they do this. That is why I want an EV vehicle. I feel gas is never going to go down, at least in Illinois. I plan to get the Bolt EV LT2 model this spring 2023 which the base price or MSRP is just over 29,000 dollars. It will give me a few more nice features that the LT1 model does not provide that you are comparing to in this video. The LT2 model provides heated seats and steering wheel. I want to get the adaptive cruise control which is optional. There may be a couple other things for the LT2 but can't think of them for the moment. I will not be getting the Entrotainment option (added 595 dollars) with the Bose speakers because I am not much in listening to music, at least not in a car. Again, thank you for all the charts and comparisons. Take care.
Just to throw a huge wrench in your maths; you didn't take into account any of the State or Local rebate programs that exist that reduce the price of the EVs. In the Central Valley of California, most people will qualify for a minimum of $5,000 in rebates and upwards of $9,000 depending on income qualifications. Those are rebates - not tax credits.
In MA, electricity price is 27C/kw, and there is delivery charge, together is about 42C/kw. And gas price comes down a bit recently. It's about $4.15/gallon now. In terms of maintenance, gas car won't have great disadvantage at first 30000 mile, except oil change ($40 once a year), more wear and tear on breaks ($100 / year). other than that, both are the same. The main advantage of EV cost of ownership would be resale value in this video. The video didn't discuss the insurance difference. EV should cost more. When Federal brings back $7500 tax credit for EV purchase, EV would be clear winner in terms of cost. Without federal tax credit, I believe both are roughly the same, EV may cost you a little more. Don't forget the inconvenience of EV, it's hard to do road trip.
good point about electricity costs. The number in the video would appear to be just the generation cost. On my itemized bill, if you add up all the charges and taxes that are based on the per Kh usage, the cost for each additional KwH is in the range of .40c. On the other hand, you're under-estimating the cost of maintenance on the ICE Trax. The video says 10K miles/year, which is two oil changes if using synthetic ($75 each where I am) or roughly 3 if using traditional oil, roughly $40. So $120-150 /year.
@@rinaturalhistory maintenance cost is a separate issue. if you drive a new car up to 5 years, ICE maintenance has only oil change and break paddles (assuming EV doesn't need to change break paddle life time or only once in life time). so ICE maintenance is also close to zero just like EV. Then the cost of ownership should concentrate on energy, resale value (which can be found statistically), and insurance. my feeling is that EV wins in energy and resale, but loss in insurance. It's hard to say EV is cheaper.
@@yili9725: The only time that insurance cost has ANYTHING to do with the vehicle itself is when you start getting into the higher-end supercars. Other than that, it’s all down to where you are in the US, what demographic you as a person are (man/woman/white/black/Asian/age/etc), and whether you have a history of wrecking your vehicles. So drop that BS about insurance being more expensive.
EVs are typically a no-brainer from a cost standpoint. As long as you can afford the monthly payment on the EV, and are able to manage the logistics of charging, the EV will be the lower overall cost.
@T R Nobody with a brain is suggesting anyone is getting a free lunch. It is basic math. Energy costs tend to track with each other. Fuel and electricity tend to go up in similar ways, and I don't see that changing.
Only thing I would mention is that Bolt will burn through tires faster so maintenance will be higher than suggested. However electric will be much cheaper in the long run. Not to mention any government rebate you happen to qualify for.
True, the extra weight and more importantly high torque off the line means they will likely be heavier on tyres wear, especially if you "enjoy" them too much.
Speaking from experience, the only setting in which that’s true is if you equip non-EV tires. The EV tires that came with my LEAF lasted past their 50k mile tread wear warranty, and I could have likely gotten even more life out of them; but because we were expecting a ton of snow and ice last winter, I went ahead and replaced them. And because I’m a cheapskate, I went with some non-EV all-season Goodyears that were on sale. I’m not even 3k miles on those, and they’re already down 1/32 of tread depth (that shouldn’t happen until 7-8k miles), so I don’t expect them to last beyond 20-25k miles max. So long as you put EV tires on an EV, they should last about as well as regular tires would on a gas car.
The ONLY time it makes financial sense to get an EV is when buying new to new. I just did a spreadsheet comparing my car to buying a new Ev. $45,000 in Canada Versus investing that $45,000 @5% and my used car came out WAY ahead.😢 Dang
Now a days a year later. Electricity at least in my area has gone up to more than double the cost mentioned in this video. With that in mind it would actually cost me just as much if not more to charge the car. as it would to fill up a gas tank in a car that goes over 300 miles on a tank even with city driving. When you consider that plus the higher payments for the bolt. It would actually cost more to drive the bolt. I am not against it. I am an Uber driver I would love a bolt for that. but I currently pay 344 dollars a month for electric car. Just imagine how much more it would cost with an EV. The current rate for electricity in my area is 32 cents per KWH. As much as IO would like an EV. they just are not practical or cheap in this current economy,
The Chevy Bolt has added cost the Trax doesn't. Most states charge more for plates each and every year than a Trax. They claim it's to help pay for roads because you don't pay any road repair tax. And EV's pay higher car insurance. An EV will also go through tires much faster than a gas car. So an EV will be slightly cheaper to own but not near what you are letting the public think it is.
The one thing that is not taken into account is if you're in an accident with an EV you will have a harder time getting it fixed and if the battery is damaged then you may have your car scraped.
own a Bolt and it good as far as maintenance , tires are gonna cost you more than 800 for a set after 30,000 miles. and it will go through tires faster, heavier car. plus one EV bonus, you can find free charging stations here and there, no free gas that I know of?😂
15 cents kwh? Not in California as of June 2023. I would keep the $4.57/gal gas price, but the electric price should be a much more realistic $0.37/kwh assuming zero charging 4pm-9pm. I also object to using 4 miles/kwh because that's too optimistic while I have no objections to the 28 MPG. Even with horrible traffic at all hours in LA, I would object to an EV driving a freeway at 50 mph. The semi trucks will be going 65 mph. That is why the 4mi/kwh is not realistic unless your commute is less than 10 miles one-way. Long commutes mean I get to assume you will be driving at highway speeds like a normal person. Total TCO will probably still be cheaper in an EV despite the above, but the savings are a lot less than before when electricity was a lot cheaper.
People are buying cars like Tesla which now will cost you about 70k depending on the model. I am assuming EVs are environmentally friendlier but to try to justify a 50-80k? I am not sure
Nobody buying a Tesla is cross-shopping with a Trax. They're more likely people who might have otherwise bought a BMW, Lexus, or some other 60k+ vehicle.
People spending $70k on a Tesla (when a base Tesla is $47k) are buying them because that is what they want vs some economic calculation. There is no need to spend that kind of money to have an EV, as the $27k Bolt shows, and if you have more money, say the low-mid $40k range which is the average cost of a new car in the USA today, there are many EV's to choose from.
I bought my 17 Bolt for $17,500 last November with 20,000 miles on it, got a new Battery in March of this year. So far I have spent $395 in electricity (both home and public charging)to drive it 11,660 miles since purchase.
I'd expect the Trax gets 28 highway while the Bolt gets 4mi/kWh city, not exactly comparing like to like but it is the better number for both. City I can reach 5mi/kWh in my Bolt if I'm careful, highway it's usually about 3. The Bolt has almost 50 more horsepower and goes 0-60 3 seconds faster, plus it has a much lower center of gravity; all that means more fun on pavement. The Trax might be able to do light off roading with its taller stance and 4wd trims.
I have heard that insurance is more expensive for EVs. Have you found that to be true? Also, my state (Ohio) charges more to register and renew an EV. A gas car costs about $55 per year and an EV about $225. While I don't think that would change the outcome, it is an added expense that should be considered.
I have heard mixed things with most increases being specific to Tesla vs a comparable gas car. A friend switched from a Volvo SUV to a similarly priced Tesla and his insurance increased over 70%. Given a UK RUclipsr showed the purchase cost of parts to repair a small bump were lower than typical, I am wondering if the difference in repair cost (and therefore insurance) is due to the fact there are very few Tesla approved collision repair centers and they are charging a premium for their labor to recover their investment sooner? An EV like the Mini Cooper SE should not cost any more to repair than a gas Mini Cooper S as it is the same bodywork and the "electric" parts as just as, if not more, protected than the gas version. I only know of one gas Mini Cooper S owner who switched to an electric Mini SE (to give us a fair comparison) and his insurance only went up $10 per month. In our house we went from a Land Rover Discovery plus Kia Soul to a Tesla Model Y plus Mini Cooper SE and our insurance went up $10 per month. So I'd suggest any large increase is perhaps only on Tesla vs comparably priced cars, as opposed to all EV's automatically being much more expensive.
My wife has a 2022 Escape and I have a 2022 Bolt EUV, I pay 3 dollars more per month. I really think this rumor started because of the folks who have purchased higher priced luxury electric vehicles and got sticker shock with the insurance. Higher priced cars can sometimes cost more to insure. I personally know a fellow who purchased a Plug-in hybrid Jeep and his insurance is high. He has been blaming it for being electric but has totally forgot the fact that his particular model has a MSRP of $70k.
@@MrKrieger56 - You should shop around for insurance, if you haven't already. Our insurance went down about 10% when we went from an Acura to the Bolt.
This doesn't count in the new bill (if it passes), that will have the tax rebate at point of sale of $7500 for the bolt. Which will make it any even better deal
Love this comparison. I have a 2020 Bolt, and absolutely adore it! One thing I hear a lot from people is the "dreaded battery degradation" and how it will make me have to replace it in x years. I know it's not as dire as some of the comments I've heard, but it is a real issue to consider. Any thoughts on incorporating? It would be difficult to predict since it has so many factors that influence it, but maybe a standard %?
I added it in the video I did on the electric Mini Cooper Se, the savings on that one were so great that if you had to pay out of pocket to replace the entire battery out of warranty you were still better off than buying the gas car! I included it there just ti prove a point, but in reality as battery technology and more importantly battery management, has improved the degradation question is less relevant. Especially as more chargers appear. Buying a car with a 250 mile range today that may only have 180 miles range in say 10 years will be less of an issue as there are more chargers around, and the car will stil be useful as a second car, or as a main car to people who rarely travel far.
@@AndysComputer perfect, I'll check out that video! I am not concerned, like you say in 10 years who knows what the charging world will look like. It's helpful to have the math to set people straight. Thanks!
The dreaded battery degradation. Let’s talk about that for a minute. As an early adapter, I bought a Leaf. After 12 years, I have lost more than 50% of my battery capacity. My range went from 85 miles when new in 2011, to 41 miles in 2022. This will vary depending on which car you choose to buy, as the new cars now have bigger batteries, and longer range. My current (ha!) vehicle is a plug-in hybrid. I have electric power or I can switch it to gasoline. My range is now 614 miles per the EPA.
@@Qrail that's awful! I have 259 miles rated range, so I'm not worried about loss. Maybe if it gets down to 100 miles. It's mostly a daily driver, and we don't mind stopping to charge. If I never buy gas again I will be happy!
@@Qrail Also, remember that the LEAF doesn't have a thermal management system. My 2015 VOLT still holds it's full 45 miles and practically no degradation.
Also depends on your state with tab prices and what not. My tabs in Washington just cost me a little over 300$ for my bolt compared to my previous 75$for my old jeep wrangler
I rented an EV it wasn’t too too good how to charge it for a very long time how much for for gasoline engines I can do much more I can tow with the car and I can. I have actually a huge umbrella range I can drive state state continuously, very easy and a gasoline car not a battery powered car.
One thing: the electricity costs quoted in the video assume that you have a home charger, which is impossible for many people who don’t own a single-family dwelling. Using a paid public charger raises the cost substantially. For example, the Blink network charges a minimum of 39 cents per kWh, last time I checked. Don’t get me wrong, I have a Bolt myself and I love it. But I’m lucky enough to have a home charger installed which makes EV ownership vastly more convenient and less expensive. And lastly, having a home charger installed is not cheap; you may wish to include it as a one-time cost in future analyses.
Very true. Public charging is still cheaper than gas but does diminish the savings. If you can't charge at home an EV is less convenient and the difference in "fuel" cost will be much smaller (although still cheaper). I'd definitely pay a membership fee to a charger network to get cheaper kWh pricing. $4 per month to Electrify America reduces the rates by 25% I believe. and is well worth it if you rely on them
A couple of years ago, Trump presidency, gas was in the low $2 range. I watched a Video where someone took a trip across the country in a tesla and added up the charging costs. His analysis was that an equivalent gas car needed to get 38 mpg to break even in cost of fuel. That's easily done with a hybrid car nowadays and they are just as easy to operate a a gas car. Toyota is not keen on full electric. They say it's better for the environment to build 10 hybrids for the same amount of scarce battery material, each hybrid saving 30% on fuel rather than building 1 all electric vehicle. Don't get me wrong, I think the idea of not having to buy gas is great, and having driven electric cars, I can confirm they are great fun. I own a 2020 kia optima hybrid, wife's car, and they really do save 30% on fuel, it's averaging 42.3 mpg over the last 9,999.9 miles and that's down from when I checked it last summer. It was 43.6 then. She does 90% around town. Usually gets 48 to 51 on the road. 600 to 700 miles out of a 15.9 gallon tank of fuel that's 10 hrs of driving @70 mph. I personally think at this point Toyota is right. 5 years from now, we all will have some data to know if battery's will stand the test of time. Take Nissan leaf for instance, they have changed the battery in that car 4 times since it came out and not just size since 2011, same for tesla their battery's have changed.
without finish the whole clip, for the cost of refill, 65kWh x $0.15= $9.75, did you get the $11.7 using about 83% charging efficiency? detail my man, details. Also, the real world EV range is only about 70%, your actual charging cost is actually $5371 by 80,000 miles. Now, how about battery degradation by then? about 2.3% degradation per year, so, with a little help of Excel, to achieve the 10,000 miles per year range, your actual electricity cost is $5877. Also, are you counting on the highly likely battery replacement after 80,000 miles?
hold on to your short hairs when the electricity goes up thousands of percent over there lol, oh btw they are telling people in california to not even charge their ev lol
hmm, lets put a little wager on it, ill bet you $1k that im telling the truth. i just purchased gas today for $1.45 a gallon(average cost is $3 per gallon in my area). i have the receipt right in front of me. for $1k ill show you my receipt and tell you how to do it. i would have told you for nothing if you would have asked, instead you called me a lair.
32-35cents/kwh in my area of CA and what about insurance differences and tire wear i hear is problem not to mention Insurance. IMO the EV is probably still cheaper but the headaches it brings when needing something fixed aka no local mechanics can work on one?
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I have a 2022 Bolt. It's a great car. In July I calculated it costs me $12 to drive 670 miles. If we drove our ICE car those same miles it would have cost $112. So a $100 / month savings. Plus the Bolt is a lot more fun to drive.
That's a significant saving every month!
Just picked up a 2022 Bolt myself back in June. Best thing for us, we have solar at our home, so no grid charging during the day.
How long did they say the batteries would last ?? 100K Miles maybe ??
@@waylonmccrae3546 Happy to say way longer than you think. Battery chemistry has gotten very good in the last 10 years. Degradation had been shown to be roughly ~5% over 10 years, no replacement necessary. Plus, batteries are not thrown away at the end of their lives. All the parts are recycled.
That's why I think that the calculations in this video are being extremely conservative when it comes to resale value. They're going to be worth a lot more than their gas counterpart when it comes time to sell.
@@ThisIsReMarkable That all sounds good, so about 100K miles you would say ?? Then how much to replace them ??
I did this math... and bought the euv. Couldn't be happier. In 3 weeks? It's saved me 200 in gasoline
Couldn't agree more! I've had my 2019 Bolt EV Premier for almost 4 years now (including 4 Canadian winters) and it is THE best car in my life!
Incredibly reliable, ridiculously cheap to operate, silent as a cobra, fast as a bolt! :)
Andy: Another component in TCO analysis is insurance. Like loan payment the insurance premium depends on so many personal factors. It is difficult to generalize here. For my case, my insurance company does not favor or penalize Bolt EV. The premium is the same as a conventional vehicle with the same MSRP.
Thanks for the video! Now that there are rebates for the Bolt, and gas prices have changed, could you do an updated video?
Plus, the EV is better for the environment.
I own a bolt and would like to mention that you don't always get 4miles per kWh. In fact, you can get as low as 2mi/kWh in the winter. Also the biggest negative is traveling in a ev, you never know if a charger will be working or if someone is using it, the time it takes to charge your ev is a big negative, Rates can also be higher than 50cents a kWh on some of these chargers. I would not recommend a ev to anyone that has to do a lot of traveling. Another fact is you will have to pay more to plate and insure your ev. Where I live they tack on an additional $200 a year because of the gas tax you’re not paying. I think most people are not paying 4.57 a gallon for gasoline, my last fill up in my truck I paid $1.90 a gallon. There are many ways to get your gasoline price down if you use certain credit cards along with other incentives. If I could do it all over I would pick something like a corolla hybrid or other 50mpg+ car, or better yet a 40mpg car like a elantra that you can pick up 15 to 18k. The bolt has been a great little car, I do like it, you can’t beat an electric drive train, its smooth and powerful, but that's where the advantages end. i think you can save more if you buy certain gasoline cars over an ev.
Thanks for a more realistic review.
Actually, you can get as low as 0.5 miles per kWh, if you’re holding the pedal to the floor and blasting the heat with all the windows down on a -10F day. Just a minor correction there. As for your claim of gas being 1.90/gal, nice try; cheapest I can find anywhere in the US is a Loves in Nebraska that put their price at 30 cents (clearly a typo, since everything else in the state is $3+). Next would be 2.60 on the Mississippi side of the MS/AL line.
As for your assertion that gas is cheaper, I already did the math on that long ago. For gas to exactly match the operational cost of an EV, 4 things must be true at the same time:
Gas price no greater than $1.50/gal;
Electric price no less than 0.20/kWh (rare, outside California in the summer);
Gas car gets unconditionally no less than 30mpg (even a Prius doesn’t);
EV gets unconditionally no more than 3 miles per kWh (which is tough to do unless you’re actively trying).
Also, you mention winter cutting efficiency on the EV, as if gas vehicles don’t lose efficiency in the same conditions. I mean, I guess I shouldn’t expect honesty from someone who quoted gas prices being 70 cents a gallon lower than the lowest in the US, but jeeze.
Great video
Back in 2006, I ran these exact same calculations between buying my Generation 2 Toyota Prius, and a much less expensive, but non hybrid Yaris. Back then, gasoline was ~$3.00 per gallon. When I ran the numbers, it turned out, that I needed to drive the Prius 240,000 miles, to make up the difference in purchase price in fuel savings. I now have ~295,000 miles on the Prius, and the car still runs like new. I've saved money on fuel. I've been lucky, and have NOT had to replace the Synergy Drive battery, a cost of ~$3,000 dollars. If I had to, that would reduce the advantage of the Hybrid, but the hybrid is still the winner. The REAL savings is the maintenance costs like the starter motor, alternator, vacuum brake booster, Power Steering pump, or the clutch. The Prius doesn't have these expensive components, which by now, would surely have been replaced. Another huge savings, is that I needed a brake job at 270,000 miles, owing to regenerative braking. I probably won't need another brake job for the rest of the life of the car.
In your comparison between the Trax and the Bolt, know, that the brakes are another opportunity in long term savings, because the regenerative braking in the Bolt is superior to the Toyota Prius. (2006) Theoretically, the Bolt won't need a brake job, but depending on how it's driven, you very likely won't do it twice in the lifetime of the car. The caveat...The battery in the Bolt costs more than $3,000! The good thing is, if you charge level 1 or level 2 at home, you should have no problem getting at least 300,000 miles out of the battery. By the time you need one, you will likely be able to find a battery with more capacity, at a lower cost. (If you keep the car that long)
Great breakdown! Finally a company has made a competitive gas-electric alternative for an even better overall price!
Thanks, glad you found it useful!
What used to stop me from considering an EV was the mind blowing battery replacement cost which offsets all the fuel cost you'd pay for a combustion car. But now, some manufacturers offer free battery replacement so now, it's an easy choice.
Randomly watching this, not buying a car but on behalf of everyone who is, thank you for such a well explained video. This is the kind of stuff people want to know but they don't always want to do the math so thanks on behalf of everyone.
your videos are legit! i hope your channel grows
I hope so too!
Andy: as a Bolt owner your maintenance cost estimate is about right. I pay $25 to rotate the tires once a year and $50 for vehicle inspection. Over 5 years, I have changed the windscreen wipers once, which costs about $70 (2 front and 1 rear).
I love my Bolt EUV and hope I can keep her for 8 years. The savings will be huge!
Great breakdown!!
Thanks!
With the gallon at about $6.50 and electricity between 0.07 and 0.11 cents/kw, the choice is clear up here in Quebec. The only problem is the 18-24 months waiting list to get a Bolt at the moment. :(
Wow. I’m speechless.. what an awesome video.. thank you..!
As I always say to my wife, "I did the math!"
Thanks for the comparison, numbers don't lie.
Awesome video! Thanks
Thanks for the breakdown.
I charge for free from my paid off PV system. The difference is that you never have that option with a gas car so it's not even close to a choice for me as I've been driving Bolts for the last six years for free and the higher gas goes the more I save. This is one of the things people don't realize PV and EV hedge inflation. Electricity goes up, gas goes up, it means nothing to me.
The reason you can't find maintenance costs on the Bolt is because there aren't any. The manual says change the cabin filter and rotate the tires for the first 150k miles.
There are other things too, if you charge at home you're never wasting time going to gas stations and you're never taking time to have oils changed, air filters, etc. Those $5k plus repair costs mean that's your time and time I'm not wasting. Time is money, you have to account for that too.
Buy one used. Best way to buy an EV. They don’t hold their value well, yet. Got a 2019 Bolt for under 9k. Got the new battery under the recall. Love the car and I use mostly free public charging so it’s been very little money spent on electricity. I even drove over 1000 miles over a period of time without using my own electricity. Used all free public charging. Saving quite a bit of moneyversus if I bought an ICE car for 9k.
Where I live it's 9 cents per kw/hr and chevy installed my home level 2 charger. It's also a WAY nicer car to drive.
That's an excellent rate!
Great fair comparison. My back of the envelope calculations when I have looked at an EV vs a similar ICE vehicle came out the same. Basically at 3 years, the EV is break even with ICE and after that the EV starts saving you money. After 3 years, the ICE vehicle will start costing you more as the warranty expires and the parts start to need replacing.
i own a 10 year old EV and 10 years in i am at close to 1200 in maintenance. this is between rusted brake rotors which never got used, and two failed wheel barings from putting 130,000 on the car. the car has no lost range vs new and it runs as new still. it has used 4 sets of tires which were the highest maintenance cost.
Andy: It is worthwhile to mention the federal tax credit and other state incentives available to Bolt. If your viewers are eligible, the initial cost of a Bolt is much cheaper than a Trax. Then there is no need to do TCO calculation.
It does cost more to register the Bolt per year (to make up for the gas taxes you aren’t paying) in my state, but that works out to less than $20 a month so the Bolt still comes out well ahead. And ironically these are the two cars I’ve considered buying. I test drove the Trax. It’s very utilitarian. It would work, but the Bolt (esp the EUV) is a step or two above in terms of comfort and such. The Trax doesn’t even have a center console for example. It feels tinier (because it is inside.) You’d be paying more, overall, for discernably less. I think insurance is less on an EV too (but that could vary.)
I suspect that will come to every state at some point.
Texas had a proposal around $250-450 per year on top of the gas car registration but it didn't pass in that session.
I have nothing against such a fee *but* it needs to not be higher than the amount of lost fuel revenue. I calculated how much fuel tax the state gets on 12k miles per year based on average fuel economy and it's about a third of that they were proposing so EV drivers would have been paying 3x more for the roads than gas cars which is clearly not acceptable.
@T R I ended up leasing a Model 3. GM was taking way too long to build my Bolt, the Model 3 lease was cheaper than buying the Bolt and I got the Model 3 a week after my deposit (vs putting down a deposit on a Bolt in October and… I’d still have a couple months to wait from now at best!) And, our insurance went DOWN adding the Model 3 (it would have been even lower with a Bolt I imagine.) Good luck getting the Bolt! It is very efficient, that makes up for slow charging to a large degree!
@T R If you get winter tires and have a garage you should be ok in the winter. It’ll lose some range but not enough to make it unusable at all. The slow charging will be the issue when on longer winter trips. Heating up the battery with hard acceleration and regen cycles en route to the charger may help. Some swear by it, other say it’s does nothing. I dunno.
What people have to keep in mind with the Mini comparison is that none of the EV's based on ICE cars, like the Mini, the Soul, the Kona, etc. is that they are inferior cars compared to purpose-built EV's which all charge faster and have much longer range.
I don’t know where you got that number from the Chevy bolt spring law in the US is about 40 K
You should add in potential replacement of the battery in 8-10 years.
A battery replacement for the Bolt is estimated to be around _$17,000_ including labor. I worry when 65% of the price of the vehicle is wrapped up in one component.
The battery warranty is 8 years or 100,000 miles. Plus, all older Bolts will have had the battery replaced (eventually) due to a recall so that warranty starts all over again. A Bolt owner could theoretically have their battery covered for 200,000 miles. Battery replacement should not even be a consideration.
And how much do you estimate it costs to replace the engine or transmission in an ICE vehicle? Because I’ve had shops quote an average cost of 12k, parts and labor, assuming that they don’t find anything else that needs fixing. And that’s for a used engine, as pulled from a junkyard heap. For a decent rebuilt engine, 18-22k is cheap. And don’t even get me started on DFC transmissions and their reputation of being complete waste-of-metal garbage.
Also - you NEVER get free gas ever! When I go to Grocery store there is free charging which I do once a week, I don’t linger any longer than planned to get more charge just go shop and leave and in 6 months I have not paid anything towards charging cost! I never have to charge at home - I do however work from home and dont drive that much but again you NEVER get free gas!
this is a great break down! i have a 2020 chevy trax and didnt even know this thing existed. saw one out on the road and it looked so similar, i thought it was an electric trax
How do you like your Trax?
Gas in California today runs from $5.89 to over $7.00 today
Appreciate if you could run same comparison with a hybrid vs electric and put a vedio out , thx
First. I have spent NOTHING on my bolt for 2 years other than plugging it in every day. Second if you purchase a gas car in about 4 years the value of your car is going to fall DRAMATICALLY. This trend has already been confirmed by multiple studies. EV's values go up and ICE... NOT SO MUCH!
I have a bolt and what got me in the Bolt in May 2019 and was able to get the $10k-$12k subsidy. So that would drastically change and skew the numbers. I am a heavy user and have driven 104,000 in 3.5 years. I think that the numbers work well for the long run for the Bolt over the Bolt or most ICE vehicles comparison. Plus my area gives rebates if you have a EV and the electric prices are lowered to .10 cents a kWh. But charging is around $20 for fast charge and that is where the numbers are skewed a little more and dependant on area access and availability. But I can write those off as i use my EV for driving to meetings and I get paid .62 cents a km, but if I use any ICE vehicle I would generally make less as the price of fuel fluctuates wildly and Electric prices are a constant set price. But I like your assessment of possible light use, and a bolt is a better EV as you don’t need a $12,000 down payment to finance a any Tesla EV. So not all EV’s are the same….
Ev epa is in town driving, gas epa is highway driving. The bolt on the highway is 200 miles or less. I travel 150 miles between 1 hour charges
There’s a reason why they still sell whole bunch of gasoline powered cars in the US more than electrical cars. We travel a lot and a battery powered car can I travel as much as a gasoline car?
Thanks for the very detailed video! I hope that as many people as possible will see it and will not stop telling lies that electric cars are more expensive than conventional cars.
Maintenance for EVs vs. fuel based vehicles is no contest. I've forked out less than $500 in total (even with a flat tire replacement) in the 11 years of driving my Nissan Leaf (still on original battery). However, a recent study has shown that carbon wise if you account for the production of an EV and its battery that the range capacity of that EV is a major determining factor of when the EV saves more carbon than a gas vehicle. For every 100 mile range capacity battery requires the EV to be driven 100k miles before it actually saves more carbon than a fuel based vehicle.
For the Bolt: 65 kWh x $0.15 per kWh = $9.75, not the $11.70 listed. Am I missing something?
Well spotted!
I should have explained that I made allowance for the fact that it takes more than 65kWh to fill a 65kWh battery as home chargers are typically just over 80% efficient. Looks like I used 78kWh which means 17/18% loss to charger inefficiency.
@@AndysComputer Good point. Is that for both Level 2 and Level 1 trickle chargers? We use a standard 120v outlet for 99% of our charging (2020 Niro EV) and it’s great, especially at $0.09 per kWh!
@@drewmcdougall891 Level 1 is less efficient than Level 2. So on a 120v trickle charge only 70% makes it to the battery, about 80% on a Level 2 and about 92 or 93% on a DV fast charger. The numbers vary across cars but this is a rough rule of thumb I did a video comparing charging the Mini on Level 1 vs Level 2.
This is an older video, but by next year, the savings will be even more. The tax credit turns into a point of sale credit. So what was almost $27,000 MSRP would go down to close to $19,500. Whew
The maintenance schedule for the Bolt only list replacing windshield wiper blades, in-cabin air filters, and the gas struts for the rear hatch over the first 150k miles.
That's very little!
Probably also need to replace the 12 volt battery a couple of times. I have replaced the 12 volt battery in my Tesla twice in about 6 years. It's also the only car that I haven't changed myself ( not easy to change) so it was much more expensive than any ice car I've owned.
The Bolt now qualifies for $7,500 tax credit so it's even a better deal. On the flip side the price of gas has dropped a lot and is now down to $4.49 per gallon in California and much lower in most other states. The cost to charge at my home in Northern California PG&E EV rate is 24.17 cents per kwh from 12 midnight to 3 pm. 4-9 pm is up to 55 cents per kwh. Cost to charge away from home can very from 0 to over 50 cents per kwh. I actually have free supercharging for life. However what I paid for my Tesla S P85 dl will never pay out through fuel and maintenance savings. By the way one maintenance cost typically higher on an EV is tires because they weigh so much more they wear the tires out quicker. Without the $7,500 tax deduction the Toyota Prius is a great choice on overall cost getting over 50 mph and costing about the same as the Bolt. If you can't charge at home or take many trips and need to charge away from home the Prius is probably lower overall cost.
I pay 712 a month and i was paying 200-400 a week in gas i only pay 20 for a whole week of electricity
Yes I agree, great breakdown between electric and gas vehicles. I definitely want to break away from buying gas. I am single, retired, and will be doing just around town or short single charge trips with an EV.
Illinois is now starting to add back 42 cent gas taxes in Jan and Jun of 2023. So just when gas is decreasing a little they do this. That is why I want an EV vehicle. I feel gas is never going to go down, at least in Illinois.
I plan to get the Bolt EV LT2 model this spring 2023 which the base price or MSRP is just over 29,000 dollars. It will give me a few more nice features that the LT1 model does not provide that you are comparing to in this video.
The LT2 model provides heated seats and steering wheel. I want to get the adaptive cruise control which is optional. There may be a couple other things for the LT2 but can't think of them for the moment. I will not be getting the Entrotainment option (added 595 dollars) with the Bose speakers because I am not much in listening to music, at least not in a car.
Again, thank you for all the charts and comparisons.
Take care.
Just to throw a huge wrench in your maths; you didn't take into account any of the State or Local rebate programs that exist that reduce the price of the EVs. In the Central Valley of California, most people will qualify for a minimum of $5,000 in rebates and upwards of $9,000 depending on income qualifications. Those are rebates - not tax credits.
In MA, electricity price is 27C/kw, and there is delivery charge, together is about 42C/kw. And gas price comes down a bit recently. It's about $4.15/gallon now. In terms of maintenance, gas car won't have great disadvantage at first 30000 mile, except oil change ($40 once a year), more wear and tear on breaks ($100 / year). other than that, both are the same. The main advantage of EV cost of ownership would be resale value in this video. The video didn't discuss the insurance difference. EV should cost more. When Federal brings back $7500 tax credit for EV purchase, EV would be clear winner in terms of cost. Without federal tax credit, I believe both are roughly the same, EV may cost you a little more. Don't forget the inconvenience of EV, it's hard to do road trip.
good point about electricity costs. The number in the video would appear to be just the generation cost. On my itemized bill, if you add up all the charges and taxes that are based on the per Kh usage, the cost for each additional KwH is in the range of .40c. On the other hand, you're under-estimating the cost of maintenance on the ICE Trax. The video says 10K miles/year, which is two oil changes if using synthetic ($75 each where I am) or roughly 3 if using traditional oil, roughly $40. So $120-150 /year.
@@rinaturalhistory maintenance cost is a separate issue. if you drive a new car up to 5 years, ICE maintenance has only oil change and break paddles (assuming EV doesn't need to change break paddle life time or only once in life time). so ICE maintenance is also close to zero just like EV. Then the cost of ownership should concentrate on energy, resale value (which can be found statistically), and insurance. my feeling is that EV wins in energy and resale, but loss in insurance. It's hard to say EV is cheaper.
@@yili9725: The only time that insurance cost has ANYTHING to do with the vehicle itself is when you start getting into the higher-end supercars. Other than that, it’s all down to where you are in the US, what demographic you as a person are (man/woman/white/black/Asian/age/etc), and whether you have a history of wrecking your vehicles. So drop that BS about insurance being more expensive.
@@jacobcarlson4010 my previous insurer, liberty mutual increased my premium,, quoting the reason: EV are more expensive to fix
EVs are typically a no-brainer from a cost standpoint. As long as you can afford the monthly payment on the EV, and are able to manage the logistics of charging, the EV will be the lower overall cost.
Seems to be the case.
@T R Nobody with a brain is suggesting anyone is getting a free lunch. It is basic math. Energy costs tend to track with each other. Fuel and electricity tend to go up in similar ways, and I don't see that changing.
7500.00 tax credit available now on the Bolt!
Only thing I would mention is that Bolt will burn through tires faster so maintenance will be higher than suggested. However electric will be much cheaper in the long run. Not to mention any government rebate you happen to qualify for.
True, the extra weight and more importantly high torque off the line means they will likely be heavier on tyres wear, especially if you "enjoy" them too much.
Speaking from experience, the only setting in which that’s true is if you equip non-EV tires. The EV tires that came with my LEAF lasted past their 50k mile tread wear warranty, and I could have likely gotten even more life out of them; but because we were expecting a ton of snow and ice last winter, I went ahead and replaced them. And because I’m a cheapskate, I went with some non-EV all-season Goodyears that were on sale. I’m not even 3k miles on those, and they’re already down 1/32 of tread depth (that shouldn’t happen until 7-8k miles), so I don’t expect them to last beyond 20-25k miles max. So long as you put EV tires on an EV, they should last about as well as regular tires would on a gas car.
The ONLY time it makes financial sense to get an EV is when buying new to new.
I just did a spreadsheet comparing my car to buying a new Ev.
$45,000 in Canada
Versus investing that $45,000 @5% and my used car came out WAY ahead.😢 Dang
Think how much you would save if you sold all your cars and walked or rode a bike. You could invest even more.
Now a days a year later. Electricity at least in my area has gone up to more than double the cost mentioned in this video. With that in mind it would actually cost me just as much if not more to charge the car. as it would to fill up a gas tank in a car that goes over 300 miles on a tank even with city driving. When you consider that plus the higher payments for the bolt. It would actually cost more to drive the bolt. I am not against it. I am an Uber driver I would love a bolt for that. but I currently pay 344 dollars a month for electric car. Just imagine how much more it would cost with an EV. The current rate for electricity in my area is 32 cents per KWH. As much as IO would like an EV. they just are not practical or cheap in this current economy,
The Chevy Bolt has added cost the Trax doesn't. Most states charge more for plates each and every year than a Trax. They claim it's to help pay for roads because you don't pay any road repair tax. And EV's pay higher car insurance. An EV will also go through tires much faster than a gas car. So an EV will be slightly cheaper to own but not near what you are letting the public think it is.
The one thing that is not taken into account is if you're in an accident with an EV you will have a harder time getting it fixed and if the battery is damaged then you may have your car scraped.
own a Bolt and it good as far as maintenance , tires are gonna cost you more than 800 for a set after 30,000 miles. and it will go through tires faster, heavier car. plus one EV bonus, you can find free charging stations here and there, no free gas that I know of?😂
15 cents kwh? Not in California as of June 2023. I would keep the $4.57/gal gas price, but the electric price should be a much more realistic $0.37/kwh assuming zero charging 4pm-9pm. I also object to using 4 miles/kwh because that's too optimistic while I have no objections to the 28 MPG. Even with horrible traffic at all hours in LA, I would object to an EV driving a freeway at 50 mph. The semi trucks will be going 65 mph. That is why the 4mi/kwh is not realistic unless your commute is less than 10 miles one-way. Long commutes mean I get to assume you will be driving at highway speeds like a normal person. Total TCO will probably still be cheaper in an EV despite the above, but the savings are a lot less than before when electricity was a lot cheaper.
I suggest you do a similar comparison with a PHEV vs hybrid version vs gasoline only version. RAV4 would be a great one to use.
People are buying cars like Tesla which now will cost you about 70k depending on the model. I am assuming EVs are environmentally friendlier but to try to justify a 50-80k? I am not sure
Nobody buying a Tesla is cross-shopping with a Trax. They're more likely people who might have otherwise bought a BMW, Lexus, or some other 60k+ vehicle.
People spending $70k on a Tesla (when a base Tesla is $47k) are buying them because that is what they want vs some economic calculation.
There is no need to spend that kind of money to have an EV, as the $27k Bolt shows, and if you have more money, say the low-mid $40k range which is the average cost of a new car in the USA today, there are many EV's to choose from.
I bought my 17 Bolt for $17,500 last November with 20,000 miles on it, got a new Battery in March of this year. So far I have spent $395 in electricity (both home and public charging)to drive it 11,660 miles since purchase.
I'd expect the Trax gets 28 highway while the Bolt gets 4mi/kWh city, not exactly comparing like to like but it is the better number for both. City I can reach 5mi/kWh in my Bolt if I'm careful, highway it's usually about 3.
The Bolt has almost 50 more horsepower and goes 0-60 3 seconds faster, plus it has a much lower center of gravity; all that means more fun on pavement.
The Trax might be able to do light off roading with its taller stance and 4wd trims.
I have heard that insurance is more expensive for EVs. Have you found that to be true? Also, my state (Ohio) charges more to register and renew an EV. A gas car costs about $55 per year and an EV about $225. While I don't think that would change the outcome, it is an added expense that should be considered.
I had a 2017 Buick Encore ( Similar to the Trax) and when I sold it and got my 2017 Bolt my insurance decreased by $10 a month.,
I have heard mixed things with most increases being specific to Tesla vs a comparable gas car.
A friend switched from a Volvo SUV to a similarly priced Tesla and his insurance increased over 70%.
Given a UK RUclipsr showed the purchase cost of parts to repair a small bump were lower than typical, I am wondering if the difference in repair cost (and therefore insurance) is due to the fact there are very few Tesla approved collision repair centers and they are charging a premium for their labor to recover their investment sooner?
An EV like the Mini Cooper SE should not cost any more to repair than a gas Mini Cooper S as it is the same bodywork and the "electric" parts as just as, if not more, protected than the gas version. I only know of one gas Mini Cooper S owner who switched to an electric Mini SE (to give us a fair comparison) and his insurance only went up $10 per month.
In our house we went from a Land Rover Discovery plus Kia Soul to a Tesla Model Y plus Mini Cooper SE and our insurance went up $10 per month.
So I'd suggest any large increase is perhaps only on Tesla vs comparably priced cars, as opposed to all EV's automatically being much more expensive.
My wife has a 2022 Escape and I have a 2022 Bolt EUV, I pay 3 dollars more per month. I really think this rumor started because of the folks who have purchased higher priced luxury electric vehicles and got sticker shock with the insurance. Higher priced cars can sometimes cost more to insure. I personally know a fellow who purchased a Plug-in hybrid Jeep and his insurance is high. He has been blaming it for being electric but has totally forgot the fact that his particular model has a MSRP of $70k.
I live in PA and my 2021 Bolt insurance is 50% higher than my Wife's 2021 Lincoln Corsair.
@@MrKrieger56 - You should shop around for insurance, if you haven't already. Our insurance went down about 10% when we went from an Acura to the Bolt.
This doesn't count in the new bill (if it passes), that will have the tax rebate at point of sale of $7500 for the bolt. Which will make it any even better deal
Indeed!
I just leased an EUV and still got 4K off from the state.
Love this comparison. I have a 2020 Bolt, and absolutely adore it! One thing I hear a lot from people is the "dreaded battery degradation" and how it will make me have to replace it in x years. I know it's not as dire as some of the comments I've heard, but it is a real issue to consider. Any thoughts on incorporating? It would be difficult to predict since it has so many factors that influence it, but maybe a standard %?
I added it in the video I did on the electric Mini Cooper Se, the savings on that one were so great that if you had to pay out of pocket to replace the entire battery out of warranty you were still better off than buying the gas car!
I included it there just ti prove a point, but in reality as battery technology and more importantly battery management, has improved the degradation question is less relevant. Especially as more chargers appear. Buying a car with a 250 mile range today that may only have 180 miles range in say 10 years will be less of an issue as there are more chargers around, and the car will stil be useful as a second car, or as a main car to people who rarely travel far.
@@AndysComputer perfect, I'll check out that video! I am not concerned, like you say in 10 years who knows what the charging world will look like. It's helpful to have the math to set people straight. Thanks!
The dreaded battery degradation. Let’s talk about that for a minute. As an early adapter, I bought a Leaf. After 12 years, I have lost more than 50% of my battery capacity. My range went from 85 miles when new in 2011, to 41 miles in 2022. This will vary depending on which car you choose to buy, as the new cars now have bigger batteries, and longer range. My current (ha!) vehicle is a plug-in hybrid. I have electric power or I can switch it to gasoline. My range is now 614 miles per the EPA.
@@Qrail that's awful! I have 259 miles rated range, so I'm not worried about loss. Maybe if it gets down to 100 miles. It's mostly a daily driver, and we don't mind stopping to charge. If I never buy gas again I will be happy!
@@Qrail Also, remember that the LEAF doesn't have a thermal management system. My 2015 VOLT still holds it's full 45 miles and practically no degradation.
The other assumption you have to make is that you are actually going to be able to get a Bolt at $26,890. I'm going to call fat chance on that.
That's a good point, I guess it will depend on the ethics of your local dealer?
Also depends on your state with tab prices and what not. My tabs in Washington just cost me a little over 300$ for my bolt compared to my previous 75$for my old jeep wrangler
Very true, I am waiting for my State to inevitably do the same.
I rented an EV it wasn’t too too good how to charge it for a very long time how much for for gasoline engines I can do much more I can tow with the car and I can. I have actually a huge umbrella range I can drive state state continuously, very easy and a gasoline car not a battery powered car.
One thing: the electricity costs quoted in the video assume that you have a home charger, which is impossible for many people who don’t own a single-family dwelling. Using a paid public charger raises the cost substantially. For example, the Blink network charges a minimum of 39 cents per kWh, last time I checked. Don’t get me wrong, I have a Bolt myself and I love it. But I’m lucky enough to have a home charger installed which makes EV ownership vastly more convenient and less expensive. And lastly, having a home charger installed is not cheap; you may wish to include it as a one-time cost in future analyses.
GM is currently paying up to $1,000 to install a charger in your home when you buy a Bolt.
Very true.
Public charging is still cheaper than gas but does diminish the savings.
If you can't charge at home an EV is less convenient and the difference in "fuel" cost will be much smaller (although still cheaper). I'd definitely pay a membership fee to a charger network to get cheaper kWh pricing. $4 per month to Electrify America reduces the rates by 25% I believe. and is well worth it if you rely on them
A couple of years ago, Trump presidency, gas was in the low $2 range. I watched a Video where someone took a trip across the country in a tesla and added up the charging costs. His analysis was that an equivalent gas car needed to get 38 mpg to break even in cost of fuel. That's easily done with a hybrid car nowadays and they are just as easy to operate a a gas car. Toyota is not keen on full electric. They say it's better for the environment to build 10 hybrids for the same amount of scarce battery material, each hybrid saving 30% on fuel rather than building 1 all electric vehicle. Don't get me wrong, I think the idea of not having to buy gas is great, and having driven electric cars, I can confirm they are great fun. I own a 2020 kia optima hybrid, wife's car, and they really do save 30% on fuel, it's averaging 42.3 mpg over the last 9,999.9 miles and that's down from when I checked it last summer. It was 43.6 then. She does 90% around town. Usually gets 48 to 51 on the road. 600 to 700 miles out of a 15.9 gallon tank of fuel that's 10 hrs of driving @70 mph. I personally think at this point Toyota is right. 5 years from now, we all will have some data to know if battery's will stand the test of time. Take Nissan leaf for instance, they have changed the battery in that car 4 times since it came out and not just size since 2011, same for tesla their battery's have changed.
Just note you are note paying federal gas tax yet, they will eventually come...
without finish the whole clip, for the cost of refill, 65kWh x $0.15= $9.75, did you get the $11.7 using about 83% charging efficiency? detail my man, details. Also, the real world EV range is only about 70%, your actual charging cost is actually $5371 by 80,000 miles. Now, how about battery degradation by then? about 2.3% degradation per year, so, with a little help of Excel, to achieve the 10,000 miles per year range, your actual electricity cost is $5877. Also, are you counting on the highly likely battery replacement after 80,000 miles?
gasoline is the least expensive
hold on to your short hairs when the electricity goes up thousands of percent over there lol, oh btw they are telling people in california to not even charge their ev lol
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You forgot to add the cost to install the 240 volt at-home charger, also the costs to insure the Bolt is most likely higher.
In many places an installed qmerit charger comes with the purchase of a Bolt.
Well done! Very understandable and fair.
hmm, lets put a little wager on it, ill bet you $1k that im telling the truth. i just purchased gas today for $1.45 a gallon(average cost is $3 per gallon in my area). i have the receipt right in front of me. for $1k ill show you my receipt and tell you how to do it. i would have told you for nothing if you would have asked, instead you called me a lair.
Can you speak more clear voice ? I didn't quite get you.
32-35cents/kwh in my area of CA and what about insurance differences and tire wear i hear is problem not to mention Insurance. IMO the EV is probably still cheaper but the headaches it brings when needing something fixed aka no local mechanics can work on one?