This is an interesting and honest comparison of how new electric a vehicle compares to new gas vehicle when looking at total cost of ownership. It made me thankful for 15 and 20-year-old Toyota’s that are affordable to buy and seem to last forever.
Two years ago, my son bought a 2001 Toyota Camry LE, for $1,400 cash, with 186k on it and it does not burn oil and the AC is still ice-cold. He has not had any accidents with his car so, he pays $68 per month for full coverage. His 4-cylinder Camry LE gets 29 MPG highway mileage. I have pondered the idea that owning an older vehicle (that, has a reputation for lasting forever, cost little enough to purchase without a car loan, and costs less to insure) could possibly be a better deal than owning a new vehicle with car payments and even a new fully electric vehicle as well. I guess one thing that keeps my son’s cost of ownership low is my son and I do DIY maintenance an repairs ourselves. But, I think it is a privilege to be able to afford a new vehicle and new vehicles provide a sense of confidence and security when doing long road trips. So, I’m not putting down buying new. But very reliable used vehicles can be a cost effective path in car ownership.