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“Just go buy and EV!”
Top of the morning to you, Patriots!
I am sure you have heard the Secretary of Transportation say something to the effect of “if are mad about gas prices, buy an electric vehicle (EV)”. If you haven’t, there are several news articles out there by the big companies to read up on it. What I want to discuss with you is the price of these vehicles. Not just the sticker price. Let’s talk maintenance. Yeah, that one topic no one ever wants to really discuss, but is what cost you the most when owning a vehicle.
First, Let’s look at the Chevy Bolt from Edmunds.com
Ownership Costs: 5-Year Breakdown
Selected Model:
2021 Bolt EV Hatchback LT 4dr Hatchback (electric DD)
| Ownership Costs: 5-Year Breakdown | ||||||
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
| Tax Credit | $0 | $0 | $0 | $0 | $0 | $0 |
| Insurance | $1,726 | $1,786 | $1,849 | $1,914 | $1,981 | $9,256 |
| Maintenance | $122 | $341 | $171 | $456 | $1,493 | $2,583 |
| Repairs | $0 | $0 | $97 | $230 | $336 | $663 |
| Taxes & Fees | $2,781 | $84 | $72 | $72 | $72 | $3,081 |
| Financing | $850 | $672 | $490 | $302 | $107 | $2,421 |
| Depreciation | $5,130 | $2,027 | $1,917 | $2,249 | $2,130 | $13,453 |
| Fuel | $695 | $716 | $737 | $759 | $782 | $3,689 |
| True Cost to Own® | $11,304 | $5,626 | $5,333 | $5,982 | $6,901 | $35,146 |
Now, let’s look at the Dodge Challenger maintenance from caredge.com. This is easily one of the costliest vehicles to own. I just wanted to compare opposite ends of the spectrum. It’s hard to find something that directly compares the two vehicles, but these are the best 2 charts I could find on a limited time.
Dodge Challenger Maintenance Costs
| Year | Annual Costs | ||
| 1 | $313 | ||
| 2 | $360 | ||
| 3 | $435 | ||
| 4 | $555 | ||
| 5 | $655 | ||
| Total | $2,318 | ||
From the research I can find at hand, it appears the EV doesn’t need much maintenance until year 2 of ownership. However, if you go by the chart, you’ll see in year 1 the difference is $191. Hardly that much of a savings. But look at year 5! The total cost of maintenance over a 5-year period for the Chevy Bolt is $2,583 and the cost of the Dodge Challenger over the same time period is $2,318. Leaving you a savings of $265 for owning the gas guzzling V8 while also leaving your testicles intact.
Shifting gears. Let’s go into the major repairs. Let’s say you have a battery issue with both vehicles. According to https://www.greencars.com/guides/cost-to-replace-an-electric-car-battery this is where the cost and variation really skyrockets. If you look at the 3rd paragraph down it list the Chevy Bolt’s battery cost to replace as $100-300 per kWh. At 66kWh the Bolt’s battery replacement is $16,000. Meaning if you decide to stick with the EV, you’ll be paying a grand total of $51,146 compared to the Dodge V8 at $48,314 for the R/T Scat Pack Widebody. Meanwhile I can go to my local Interstate Battery dealer and get a top of the line battery replacement for my Challenger for $219.95. Don’t believe me? Check out https://www.interstatebatteries.com/product-search-results/2020-dodge-challenger-v862l#
I will save this for a later article, but this hasn’t even scratched the surface on the environmental damage harvesting the rare earth metals has on our planet compared to drilling for oil.
- Swamp Fox
“Maximum Effort!”