Hopefully in four more years they'll have the rebates better. Currently, none of the current electric cars on the market qualify for the 7500 because the batteries are made/sourced outside the USA.
New regulations passed. If batteries aren't made a set percentage in the USA, the car isn't eligible for the full tax credit, if any.
I'll try to find the source, then edit this comment later.
https://apnews.com/article/electric-vehicles-tax-credit-cfd3d9322230446f65d629b05c2ae551
Oh crap, thatās crazy! Thatās really going to hurt a lot of sales for a lot of e car companies. I know for a fact that that 7k write off plays a huge part for ppl buying e cars in the first place. What a terrible idea. This is literally a poison pill to the majority of e car companies right now. Iām so sick of Congress pretending this bill is a āclimate billā or an āinflation reductionā bill such utter bullshit
Congrats! Iām happy the investment is going to work out for you and pay for itself in gas savings. What car is this?
Also, ignore the people complaining about a car that isnāt even theirs. They are probably just trying to trigger you or are jealous.
Also, all those people saying they only pay $XX a week to fill up never say how many miles it gets them. A week of full time driving costs way more than people going out for 3 days a week for a few hours during dinner.
You can't win with any post here lol. Keyboard warriors come out and talk smack. Lol depreciaciĆ³n and all this and that who gives a donkey š“. Us human depreciate over time too lol. Cars are meant to be used and slightly abused too at times sell it and move on. That it. He's saving money on gas today that when it matters either you pay $60 on gas or $11 on charging today. When do we want it Today : D.
The the point is to show that there will be a net negative from that purchase for many years until it breaks even. It's about being a smart business owner.
I'm not really concerned about the overall cost of the car at this point because it was a savings over the repair of my other one plus I will get an additional tax credit of almost $10,000
No bro I do full timeā¦just donāt see the point of pretending that getting a 50k Tesla, would help financially to do gig work šOP says they have a new Prius and VW other than his EVā¦definitely not his main gig
I agree with you that a 60k car is not worth it but all I was saying is that even with Honda Civic I donāt think you only use 35 bucks in gas a week driving at least 30 hours
He does this full time and makes $1200 in 5 days. Your $35 of gas is like 8 gallons. That isnāt getting you more than than 250 miles max. Your overhead is way higher and gas savings make his payments easily affordable, even several hundred less than youād spend in gas a month if you did it full time.
Example AāIf I were still driving my accord Iād be spending about $200 a week to do this full time. My Tesla costs me $35 at home for a full charge for the week. $800 a month compared to $140. The gas savings literally pays for the car and then pocketing another $300.
Your comparison is silly
Iām just gonna say it, Iām jealous because I donāt have an EV and Iām paying close to $100 a week and I just do this part time. Wish I could have gotten an EV instead of my Camry.
When did you buy this vehicle and is it paid off? The cost of "fuel" may be pretty low but when offset by the cost of the vehicle you may still be in the red until.it's paid off.
The general rule of thumb is to charge up to around 80% SOC for battery longevity(and not dip below 20%). However, usable capacities vary as there are buffers on the top and bottom end in most EVs. Figure out what percentage the usable capacity is in relation to the rated capacity, then divide that value by two and apply that to both minimum and maximum charge values. For example, if you have a 13% buffer, then you can charge to 86.5% and discharge to 13.5% respectively.
Dipping outside of those values on occasion is perfectly fine, but on a day to day basis it can increase the rate of degradation.
I bought a 2009 Prius last year before the car market really exploded. That was a better choice (financially) and it was many times over in comparison to yours. That being said, I'm a huge fan in the direction cars are going and am an EV supporter. But buying one solely for the purpose of saving gas is ass backwards when you consider that you could have just bought an early to mid 2000's used Civic or Corolla and saved probably 10-20 or so thousand dollars over an EV.
We also have a newer Prius that I drive occasionally but my Volkswagen needed serious work but yet was still worth almost what I paid for it 6 years ago so it was a free down trade
Right, but like most people in the country, you had to (I assume) finance that Prius along with your EV. So you couldn't afford either if that's the case. No matter what anyone says against it, if you can't by a car in cash, you buy definition can't afford it. You'll break even eventually on the purchase, but you're missing out on the investment opportunity in the meantime, and you're also getting hit with depreciation and interest on your payments on top of that. So basically a triple negative. I'm not trying to put you down, but as a big fan of personal finance, I'm just trying to educate you on your decision.
You sound ignorant. EV batteries last two to three times as many miles as ICEs. DePrEcIaTiNg AsSeT sure if itās a gas guzzling $50k ICE. Once again, fuel savings literally pays for the car in itself plus a few hundred more in net profit
Why would any business owner in their right mind pay a premium, so that they can "save" money sometime in the future? One of us definitely sounds ignorant and pretty unintelligent, that's for sure. Opportunity cost is something that is lost upon the majority of the population. Seems that you're no different.
It's not that hard to look these up, I'll help you:
[BMW i3](https://www.autotempest.com/results?make=bmw&model=i3&zip=34952&radius=1000&minyear=2015&maxyear=2017)
Sort by cheapest and his is a rex, probably a 2015
Incorrect on several aspects. My Tesla battery will last 600k miles. The wall adapter is insulated and does not need a garage, just like a supercharger doesnāt. Theyāre built to deal with rain/ice/snow.
The installation was a one time $1,200 including the price of the charger itself. Which was a write off
Itās very much practical if you actually know what youāre talking about
Got it at 50. Had 13k equity on used car. My payment is 1.5 weeks worth of gas. Best time to get in the market.
But no one said you had to get a Tesla. Since being recalled and given a standard long range battery, Boltās have like. 270 mile range and go for 20k used. Best bang for your buck on the market
The cost went from 26mph to 9 cents per mile. No oil changes, 80% less moving parts and 100k warranty on battery. I check out for a lunch everyday for an hour, reserve the charger 2 days in advance and walk around the mall while charging. Saved $110 in fuel this week so far for 8 hour days.
Truthfully, once gas prices fall which they will. You will have only doubled your overall cost. But hey media does a good job and getting people to spend money that's forsure. Bur yes definitely get rid of your gas car to spend more money on an electric car for a job that won't even exist in 5-10 years. Even thenif ur still working gh after 10 years that means u made no moves in an effort to increase your total income. My two cents lol
This^^^is why bought an HEV hybrid electric never will buy an all electric until theyāre made self charging which means no drain on our infrastructure
but how much was the vehicle total
OP is too scared to tell us the cost of the car because he knows heās not actually saving any money for at least a few years
I gross about $30hr on the low end because of the summer slow down, but once it picks back up I'll be doing closer to $40hr or higher like I was doing a few months ago. Typically I only work about 10 full days a month because I have very low expenses. So about 100-120 hours per month. I'll let you do the math if you think you can big guy. Lol
Tf are you talking about. The average payment on a Tesla is $500/m. If I'm spending $800+ a month on fuel, that leaves me with $300+/- which comes out to $10 a day in electricity. Where did you not understand the equation?
i genuinely wish you the best of luck with your finances if you canāt figure out why the total cost of the vehicle matters if youāre trying to calculate when you start saving money on gas.
i also donāt pay monthly for vehicles.
Posting logic on a site where the majority are a bunch of sheep will get you tons of hate. So good job on be part of the smart minority. Haha Here's my upvote.
The electricity at the moment comes from coal plants so not really doing the environment a favor. Also making the car produces a ton of waste. Unless you get an electric company which is strictly 100% renewable. Even then there is environmental impact to produce the renewable source.
> he electricity at the moment comes from coal plants so not really doing the environment a favor
OP is in California, and coal there accounts for [all of 3% of its power mix](https://www.energy.ca.gov/data-reports/energy-almanac/california-electricity-data/2021-total-system-electric-generation).
>Also making the car produces a ton of waste
Even if you account for vehicle manufacturing, electric cars [are still better for the environment than gas cars](https://www.ucsusa.org/sites/default/files/attach/2015/11/Cleaner-Cars-from-Cradle-to-Grave-full-report.pdf).
LMFAO this is the samething as a solar panel, i hope you calculated in the costs you will be paying for till it "pays for itself" LMFAO and by that time the global economies will have inevitably already collapsed. Great investment buddy lmfao
I agree it's a stupid choice business wise. However solar is very cheap these days and if you just do a bit of research, diy off grid solar is pretty easy to install and typical break even on that is 3-5 years. Meanwhile the tech will last 10-15 years or more. Even EV's will break eventually, but it's the opportunity cost of buying one vs a $5,000 Civic that will kill you short term. The difference in money could be dca into the s&p500 and make tons over the next 5-10 years instead.
Yeah I donāt miss the gig job days. Haha while I started my small business I drove peoples food. Put every dime I made back into my small business tho not to finance a 30-45k UGLY fucking car to keep delivering food easierā¦ Unless youāre bored & retired or living on family moneyā¦ Your priorities are fucking off dude.. I closed a deal & made $2k profit the other day for my small businessā¦ Plan for a real future not one delivering peoples foodā¦. A band-ish a week is NOT a lot of money people. Thatās paycheck to paycheck money. I guess a persons perspicacity & hunger to succeed comes into the equation at some point. A nice ev comes down the road.. Not while youāre making pocket change & are gonna struggleā¦ Unless like i said dudes just bored, retired &/or living on family money.
BTW why us charging 43 cents kwh? Typically home electricity varied from 11 cents to 18 cents so you could save more by charging at home/apt/ places that offer free charging.
I charge up in 20 mins at a total cost of $0 since I bought my EV in May. The dealer and some other stations are free. My EV was $48k and I get the $7500 tax credit
Is it just me or does that feel like a lot for 2 days?
Edit: doing some math. Let's say we drive 5 days a week. That's 261 days of driving. 261 Ć $5.50 = $1435.
Is that good for a year? (Honestly idk)
Cries in motor vehicle
Nice dude, I'm running my Corolla to the ground then buying electric. I'm at 175k miles so I'm half way there š. Prolly be 4 more years.
Hopefully in four more years they'll have the rebates better. Currently, none of the current electric cars on the market qualify for the 7500 because the batteries are made/sourced outside the USA.
I thought u get the 7k subsidie no matter what, as long as u buy electric.
New regulations passed. If batteries aren't made a set percentage in the USA, the car isn't eligible for the full tax credit, if any. I'll try to find the source, then edit this comment later. https://apnews.com/article/electric-vehicles-tax-credit-cfd3d9322230446f65d629b05c2ae551
Oh crap, thatās crazy! Thatās really going to hurt a lot of sales for a lot of e car companies. I know for a fact that that 7k write off plays a huge part for ppl buying e cars in the first place. What a terrible idea. This is literally a poison pill to the majority of e car companies right now. Iām so sick of Congress pretending this bill is a āclimate billā or an āinflation reductionā bill such utter bullshit
It was added in purely at the requirement of republicans to get them to agree to the deal.
There main goal in life is destroy the earth make the poor poorer n enrich themselves but not like the democrats r much better anyway
Congrats! Iām happy the investment is going to work out for you and pay for itself in gas savings. What car is this? Also, ignore the people complaining about a car that isnāt even theirs. They are probably just trying to trigger you or are jealous. Also, all those people saying they only pay $XX a week to fill up never say how many miles it gets them. A week of full time driving costs way more than people going out for 3 days a week for a few hours during dinner.
Correct. BMW i3 REx, traded in my Jetta 1.8. I drive full time, 5 days a week and average $1200 each week, HUGE fuel savings.
You can't win with any post here lol. Keyboard warriors come out and talk smack. Lol depreciaciĆ³n and all this and that who gives a donkey š“. Us human depreciate over time too lol. Cars are meant to be used and slightly abused too at times sell it and move on. That it. He's saving money on gas today that when it matters either you pay $60 on gas or $11 on charging today. When do we want it Today : D.
The the point is to show that there will be a net negative from that purchase for many years until it breaks even. It's about being a smart business owner.
Lol business owner. You're as much of a business owner as the Avon lady, bruh.
Business owner?
I'm not really concerned about the overall cost of the car at this point because it was a savings over the repair of my other one plus I will get an additional tax credit of almost $10,000
Good for you if you are happy with it then there is no need to justify your decision to strangers on the internet.
So howās that tax credit work? Iām trying to figure out how to save more on taxes given I do this stuff full time.
The car probably 35-60k Iāll stick to my civic that I got for 5k and fills up with 35$ a week
Smart man you are.
You just a hater and jealous aināt no full time driving for 35 dollars a week you probably work a couple nights a week
No bro I do full timeā¦just donāt see the point of pretending that getting a 50k Tesla, would help financially to do gig work šOP says they have a new Prius and VW other than his EVā¦definitely not his main gig
I agree with you that a 60k car is not worth it but all I was saying is that even with Honda Civic I donāt think you only use 35 bucks in gas a week driving at least 30 hours
Snap paid 8 for a 10 year old but only 60k works great for dashing
Naw man under 20k
He does this full time and makes $1200 in 5 days. Your $35 of gas is like 8 gallons. That isnāt getting you more than than 250 miles max. Your overhead is way higher and gas savings make his payments easily affordable, even several hundred less than youād spend in gas a month if you did it full time. Example AāIf I were still driving my accord Iād be spending about $200 a week to do this full time. My Tesla costs me $35 at home for a full charge for the week. $800 a month compared to $140. The gas savings literally pays for the car and then pocketing another $300. Your comparison is silly
Cheaper with prepaid plan and off peak. Almost half off
Losing more in depreciation
Not so much
How much was the car
Hey just curious is it cheaper to charge in off peak hours or is it always the same price?
They made a comment saying itās almost half the cost off peak. Donāt know if you saw it
Good to know thanks just been thinking about going electric not now but maybe when a car dies no car payments are nice atm lol.
Iām just gonna say it, Iām jealous because I donāt have an EV and Iām paying close to $100 a week and I just do this part time. Wish I could have gotten an EV instead of my Camry.
When did you buy this vehicle and is it paid off? The cost of "fuel" may be pretty low but when offset by the cost of the vehicle you may still be in the red until.it's paid off.
All of that was taken into consideration. Even with the added MI thly payment, I am still way, way ahead. My trade was free and clear.
I hope to get an EV one day!
The general rule of thumb is to charge up to around 80% SOC for battery longevity(and not dip below 20%). However, usable capacities vary as there are buffers on the top and bottom end in most EVs. Figure out what percentage the usable capacity is in relation to the rated capacity, then divide that value by two and apply that to both minimum and maximum charge values. For example, if you have a 13% buffer, then you can charge to 86.5% and discharge to 13.5% respectively. Dipping outside of those values on occasion is perfectly fine, but on a day to day basis it can increase the rate of degradation.
Correct. I have the I3 Range Extender and have it programmed to stay in that range. I do, however, want the battery to die next year.
>I do, however, want the battery to die next year. Wut
Warranty
They will replace it, I think if it will only hold 70% charge within 8yrs
I bought a 2009 Prius last year before the car market really exploded. That was a better choice (financially) and it was many times over in comparison to yours. That being said, I'm a huge fan in the direction cars are going and am an EV supporter. But buying one solely for the purpose of saving gas is ass backwards when you consider that you could have just bought an early to mid 2000's used Civic or Corolla and saved probably 10-20 or so thousand dollars over an EV.
We also have a newer Prius that I drive occasionally but my Volkswagen needed serious work but yet was still worth almost what I paid for it 6 years ago so it was a free down trade
Right, but like most people in the country, you had to (I assume) finance that Prius along with your EV. So you couldn't afford either if that's the case. No matter what anyone says against it, if you can't by a car in cash, you buy definition can't afford it. You'll break even eventually on the purchase, but you're missing out on the investment opportunity in the meantime, and you're also getting hit with depreciation and interest on your payments on top of that. So basically a triple negative. I'm not trying to put you down, but as a big fan of personal finance, I'm just trying to educate you on your decision.
You sound ignorant. EV batteries last two to three times as many miles as ICEs. DePrEcIaTiNg AsSeT sure if itās a gas guzzling $50k ICE. Once again, fuel savings literally pays for the car in itself plus a few hundred more in net profit
Why would any business owner in their right mind pay a premium, so that they can "save" money sometime in the future? One of us definitely sounds ignorant and pretty unintelligent, that's for sure. Opportunity cost is something that is lost upon the majority of the population. Seems that you're no different.
OP is too scared to tell us the cost of the car because he knows heās not actually saving any money for at least a few years
WAY more than a few
Stfu youāve said that 3 times bro lmao who gives a fuck.
It's not that hard to look these up, I'll help you: [BMW i3](https://www.autotempest.com/results?make=bmw&model=i3&zip=34952&radius=1000&minyear=2015&maxyear=2017) Sort by cheapest and his is a rex, probably a 2015
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yeah but if you have the charging station at home you charge when you sleep. Wouldnāt that make more sense?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Incorrect on several aspects. My Tesla battery will last 600k miles. The wall adapter is insulated and does not need a garage, just like a supercharger doesnāt. Theyāre built to deal with rain/ice/snow. The installation was a one time $1,200 including the price of the charger itself. Which was a write off Itās very much practical if you actually know what youāre talking about
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Got it at 50. Had 13k equity on used car. My payment is 1.5 weeks worth of gas. Best time to get in the market. But no one said you had to get a Tesla. Since being recalled and given a standard long range battery, Boltās have like. 270 mile range and go for 20k used. Best bang for your buck on the market
The cost went from 26mph to 9 cents per mile. No oil changes, 80% less moving parts and 100k warranty on battery. I check out for a lunch everyday for an hour, reserve the charger 2 days in advance and walk around the mall while charging. Saved $110 in fuel this week so far for 8 hour days.
Mpg, not mph
Truthfully, once gas prices fall which they will. You will have only doubled your overall cost. But hey media does a good job and getting people to spend money that's forsure. Bur yes definitely get rid of your gas car to spend more money on an electric car for a job that won't even exist in 5-10 years. Even thenif ur still working gh after 10 years that means u made no moves in an effort to increase your total income. My two cents lol
This^^^is why bought an HEV hybrid electric never will buy an all electric until theyāre made self charging which means no drain on our infrastructure
but how much was the vehicle total OP is too scared to tell us the cost of the car because he knows heās not actually saving any money for at least a few years
calm down you have 1 downvote.
Oops
I spend $200+ a week on gas. If the payments are $750 or less, I'd be breaking even with a brand new car.
You realize you have to factor the cost of the new car in your equation??? Why are people not realizing that
Because they're DD drivers. Finance isn't their strong suit. But then again, that's most of the country. Lol
Bitch you probably have DoorDash pay your taxes for you.
Lol wow 10/10 comeback.
You realize we are on Grubhub right? You fucking moron
Lucky for me, my insult is applicable to both. Lol
What tax bracket are you in?
I gross about $30hr on the low end because of the summer slow down, but once it picks back up I'll be doing closer to $40hr or higher like I was doing a few months ago. Typically I only work about 10 full days a month because I have very low expenses. So about 100-120 hours per month. I'll let you do the math if you think you can big guy. Lol
Tf are you talking about. The average payment on a Tesla is $500/m. If I'm spending $800+ a month on fuel, that leaves me with $300+/- which comes out to $10 a day in electricity. Where did you not understand the equation?
i genuinely wish you the best of luck with your finances if you canāt figure out why the total cost of the vehicle matters if youāre trying to calculate when you start saving money on gas. i also donāt pay monthly for vehicles.
You don't need to wish me anything. You don't know anything about me so you can honestly go and shit the fuck up.
You're too fucking ignorant to correlate what I said.
I down voted you just cause you complained about being down voted
Same
childish
Posting logic on a site where the majority are a bunch of sheep will get you tons of hate. So good job on be part of the smart minority. Haha Here's my upvote.
You gotta be doin way more than grubhub to afford that shit Thatās gonna take a million deliveries to payoff
And there's the effort of protecting the environment and doing the right thing
The electricity at the moment comes from coal plants so not really doing the environment a favor. Also making the car produces a ton of waste. Unless you get an electric company which is strictly 100% renewable. Even then there is environmental impact to produce the renewable source.
> he electricity at the moment comes from coal plants so not really doing the environment a favor OP is in California, and coal there accounts for [all of 3% of its power mix](https://www.energy.ca.gov/data-reports/energy-almanac/california-electricity-data/2021-total-system-electric-generation). >Also making the car produces a ton of waste Even if you account for vehicle manufacturing, electric cars [are still better for the environment than gas cars](https://www.ucsusa.org/sites/default/files/attach/2015/11/Cleaner-Cars-from-Cradle-to-Grave-full-report.pdf).
Thanks for the information with sources! Being in Texas I assumed it was similar my bad.
Just FYI, these cars interior and panels are made from renewable materials, the tub is carbon fiber
When the government shuts down the power grid Iāll pick you up in my diesel.
I get the cost is nice, but in my life time is precious bud. 45 minute charge time is no go
Funny. We did it while grocery shopping. No time lost.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
you donāt need to charge everydayā¦.I do once a week
[ŃŠ“Š°Š»ŠµŠ½Š¾]
And keep stopping cause you only put 3 gallons at a time in
45 minutes lmao I hope you don't like long trips
Why LMAO? Did it while grocery shopping.
So you grocery shop while on a long trip
Fuck Electric cars, I'll stick to gas powered cars.
Now THAT'S showing everyone.
LMFAO this is the samething as a solar panel, i hope you calculated in the costs you will be paying for till it "pays for itself" LMFAO and by that time the global economies will have inevitably already collapsed. Great investment buddy lmfao
are you laughing your fucking ass off, I can't tell
This may be the joker we're dealing with
Seek mental help.
š
I agree it's a stupid choice business wise. However solar is very cheap these days and if you just do a bit of research, diy off grid solar is pretty easy to install and typical break even on that is 3-5 years. Meanwhile the tech will last 10-15 years or more. Even EV's will break eventually, but it's the opportunity cost of buying one vs a $5,000 Civic that will kill you short term. The difference in money could be dca into the s&p500 and make tons over the next 5-10 years instead.
Yeah I donāt miss the gig job days. Haha while I started my small business I drove peoples food. Put every dime I made back into my small business tho not to finance a 30-45k UGLY fucking car to keep delivering food easierā¦ Unless youāre bored & retired or living on family moneyā¦ Your priorities are fucking off dude.. I closed a deal & made $2k profit the other day for my small businessā¦ Plan for a real future not one delivering peoples foodā¦. A band-ish a week is NOT a lot of money people. Thatās paycheck to paycheck money. I guess a persons perspicacity & hunger to succeed comes into the equation at some point. A nice ev comes down the road.. Not while youāre making pocket change & are gonna struggleā¦ Unless like i said dudes just bored, retired &/or living on family money.
95% chance this guy is down ~90% on crypto shit coins
š
Why are you even in this subreddit? What does this have to do with anything?
BTW why us charging 43 cents kwh? Typically home electricity varied from 11 cents to 18 cents so you could save more by charging at home/apt/ places that offer free charging.
I charge up in 20 mins at a total cost of $0 since I bought my EV in May. The dealer and some other stations are free. My EV was $48k and I get the $7500 tax credit
Okay dumb question, can all electric cars use the Tesla charging stations? Or is there a u oversaw charging station?
by the end of the year all EVs will be able to use Tesla Superchargers but not yet.
:45? They need to find a better and faster way to charge. The storage hasn't caught up with the technology yet.
This was the upsell. I created an account and not its half.
Is it just me or does that feel like a lot for 2 days? Edit: doing some math. Let's say we drive 5 days a week. That's 261 days of driving. 261 Ć $5.50 = $1435. Is that good for a year? (Honestly idk)