Sunday, July 29, 2012

Our Two Electric Cars Are Cheaper Than Two Gas Cars.




Mythbuster #1 Gas cars are not cheaper than Electric cars.

Julie and I are both working professionals and we require reliable transportation for our professions. In 2009 we began our transition into full electric cars with the BMW Mini-E. We had built a home in 2006 and Included a solar PV system in the construction of our home. The Solar PV system  led us to the desire of powering our cars via sunshine beginning with the 2009 BMW Mini-E. Our solar PV system is now complete paid off by the utility and gasoline savings from the prior 6 years. 




Today we have no cost of electricity.  Our home and car solution is a net zero cost for electricity and for the past three years we have accrued a $292 credit.  



If you are a "non solar"  utility customer as you look at the numbers below, factor in about a quarter to a third of the cost for utility supplied electricity compared to your current  gas usage.

When we began the transition in 2009 with the BMW MINI-E, our gas cars that we owned/leased at the time were a 2005 Volvo S60R and a 2005 Infinity G35. Below is a cost breakdown of the total cost of driving those two cars. We took a bath on the Infinity G35. 

Below that is our current cost of driving two very nice electric cars.  In our case our lifestyles and driving patterns allow us to go with two full electrics. We realize this is not the case for most/some families however, we were surprised that the Mini-E and ActiveE completed all of our needed trips thus the decision to ditch the last gas car.  You may be surprised as well at how easy an EV can fit into your lifestyle.

Essentially this is  a snap shot of the cost of the two gas cars that we used to drive and the two electric cars that we are driving today.

Our gas cars that we drove were the 2005 Volvo S60R and the 2005 Infinity G35

2005 Volvo S60R  
36 month lease $2500 down payment = $ 69 a month
Lease payments with tax $479
Insurance $ 80
Maintenance and repair $80 (tires and brakes on the S60R were very expensive)
Gas $175 per month

Total $908  per month

2005 Infinity G35
Purchase $34,000
Downpayment $10000  (over 48 months = $208 per month)
Payments $490
Insurance $80
Maintenance and repair $70 (tires, brakes, service, 60k services was $1600)
Gas $275

Sold for $13,000 same as the balance on the loan.

Total  $1123 per month

Total for two gas cars = $2031 per month


Our electric cars that we drive are the Honda Fit EV and the BMW ActiveE.  

2011 BMW ActiveE

24 month lease, $1900 down payment = $79 per month
Lease payment with tax $534 a month
Insurance $80
Maintanace and repair 0
Fuel cost 0

Total  $693 per month

2013 Honda Fit EV

36 month lease, 0 down payment
$2500 CARB rebate (-$69 )
Lease payment with tax $412 per month
Insurance $46 per month  (Honda pays the comp and collision)
Maintenance and repair 0
Fuel cost 0

Total  $389 per month.

Total for two electric cars =  $1082

Driving electric is a substantial monetary savings for our family. In addition to the savings, it is a better driving experience, cleaner, energy independent, never have to go to a gas station and at the top of the list, we as consumers have the ability if we choose (we choose to do so) to make our own fuel.  We as a nation if we choose can be equally energy independent.



We do not buy into the myth that electric cars are more expensive.
Cheers
Peder & Julie
52,000 miles powered by sunshine
7.5kw system size, 11.5 megawatts a year. 

15 comments:

  1. Great post! Even if you had to pay for electricity (if you didn't have solar) you'd only pay, at most, $40 per month for power per car. Using your numbers that'd be an extra $80 for electric, or $1,162. Still much cheaper than gas.

    ReplyDelete
  2. Yes,
    One other thing is that the electric car models are usually loaded with tech and options. For example a gas model 1 series similar to the ActiveE with similar level of options would lease for the same or more per month.
    Cheers

    ReplyDelete
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  10. Those are two beautiful cars you have there. Do you have any specialized type of car insurance for them yet? We just got two electric cars such as yours and opted to bump up our car insurance policy in the Wakefield MA area to ensure that we are covered.

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  15. It's obvious that the electric cars will be cheaper to maintain than the gas cars. The first thing is, the electric cars are maintenance free and you can go miles with charging once. As the gas price is increasing day by day which gives poor mileage that is why it is better to switch to the electric or solar. BMW Specialist Oakbrook IL.

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