Sunday, March 18, 2012

The First Quarter with an Electric Car - a few money points.

So a friend on Facebook asked me to keep FB up to date on my electric car.

Rather then share many pros and cons there on FB, I think a blog is a great place to discuss and gather information and links about electrics.  I'll try to give an honest appraisal of my direct experience with my electric car as well as other electrics.

12/18/11 - 3/17/12 - Miles 2880, 3 Months ownership.

The first overall experience is a tremendous pleasure at the car totally removing the gas engine from the equation. My last vehicle was a 2003 Honda Civic Hybrid which for a short time longer I still own for longer trips.  In three months it has received about a tank and a 1/4 or about 15 galons. About $60 for the quarter vs the $160 a month I used to pour into it. It's currently 3/4 full.   I now spend about $32 for gas.  So rough figures for this quarter, $160x3=$480 - $60 still filled = $420 - $100 electric is about $300 for the quarter. So:

Pro - $300 gas savings or $100 a month.  Most gas guzzler models replaced vs my hybrid will be way more.  My old gas car was an old HCH '03 hybrid but it still gets about 36-38 mpg.

Con - it's a more expensive car.  Like my hybrid (which eventually paid for itself when incentives were counted, especially in its 45mpg days ) the Leaf in the top line SL model with floormats, title etc, and destination is expensive.  With all destination charges and etc - $38,000 which in a very reasonable %1.79 percent loan is $663 for five years.


Yet many of my friends with midline F150's,  BMWs, Crossover SUV's, and others are actually in similar cost brackets.  They pay premiums for hauling,  power,  luxury, safety, or space and size.  Plus some incentives turn this around a bit.  Maryland cuts out an exemption taken at the dealer for $2000 in excise (sales) tax.  The federal government if you were liable for at least $7500 in federal tax lets you keep more of your money - in my case $7500 regardless of AMT.  Was very nice getting that back.

So we are really more of 28,000 - 30,000 new car depending on base or nicer trim.  Immediately take off $100 - $200 monthly gas dollars you get miles from the plug instead.  None of which goes to OPEC.  Passing the pump lines - priceless.  All with me just plugging in when I get home.

Current rating - very happy - lets look at some more tomorrow.


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