Sneaky EV Expenses to Budget For | EV Basics

Автокөліктер мен көлік құралдары

Electric vehicles have A TON of benefits over gas- and diesel-powered cars and trucks, but these advantages often do not come cheap. Things like registration, insurance, and even tires can catch you by surprise. In this edition of EV Basics, we present 10 unexpected EV expenses you need to be aware of.
EV Basics is Powered by WiTricity. Learn more about wireless EV charging at www.witricity.com
📚 Get More EV Basics: • EV Basics
🔌 Check out our recommendations for the best home EV chargers:
🏆 Best Overall Charger: JuiceBox 40 - go.evpulse.com/EVSE-BestOverall (affiliate)
🏷️ Best Value Charger: Emporia EV - go.evpulse.com/EVSE-BestValue (affiliate)
🔗 Full List w/ Reviews: go.evpulse.com/EVSE-BestList
👏 Join this channel to get access to perks: / @evpulse
0:00 Introduction
1:04 Ford F-150 Lightning Cost Comparison
1:46 Tax Credit Conundrum
2:03 Unexpected Fees
2:25 EV Car Insurance
3:05 VW ID.4 & Lightning Battery Replacement
3:59 Remanufactured EV Batteries
5:11 Charger Installation
5:47 Tires for EVs
6:11 Selling Your Old Electric Car
6:50 Residential Charging vs. DC Fast Charging
7:54 Time is Money
8:30 EV Advantages over Gas Cars
9:16 Conclusion
👩‍💻 For the latest news from the electric vehicle frontier visit EV Pulse (www.evpulse.com).
📚 EV Pulse has all the information you need to master Electric Vehicles! How do you reduce range anxiety? Should you keep your car constantly charged? All of those questions and more are ones we want to help you answer, so you can be an expert when it comes to EVs.
➡️ Follow EV Pulse on Social:
Facebook: / evpulseonline
Instagram: / evpulseonline
Twitter: / evpulseonline
TikTok: / evpulse
#EVPulse #EVBasics #CraigCole

Пікірлер: 52

  • @EVPulse
    @EVPulse11 ай бұрын

    Do you really need to spend money on a home charger? We tackle that question here: kzread.info/dash/bejne/nIJ5m7h8dq6qhLQ.html

  • @smartelectriccar

    @smartelectriccar

    11 ай бұрын

    I charged my first EV for 5 years on the included L1 slow cord. 50 km per day of driving replenished overnight

  • @markshellard

    @markshellard

    11 ай бұрын

    Yes unless you never drive above 5 miles a day, in which case you can use the Level 1 cord.

  • @antoinepageau8336
    @antoinepageau833611 ай бұрын

    I saved $8,500 in fuel costs in the first year of ownership of my model 3 (I drive 40k / year). It cost me $1,150 in charging cost (mixed home and supercharger). It’s a no brainer.

  • @usaverageguy
    @usaverageguy11 ай бұрын

    I am proud of EV Pulse for posting this video. Most EV channels avoid talking about the negative factors in EV ownership. But, if these issues prevent someone from converting to electric. Then there are likely other issues that they are struggling with. Such as politics or just fear of the unknown.

  • @PShawtx

    @PShawtx

    10 ай бұрын

    No ev's cost to much.

  • @usaverageguy

    @usaverageguy

    10 ай бұрын

    @@PShawtx I hear this all the time. Last year average price of a pickup was $56,200. There are plenty of EVs for under $45k. And even some under $35k.

  • @ALMX5DP
    @ALMX5DP11 ай бұрын

    Great overview. I just want to see more small cars in this segment. Feel automakers arent doing enough, or are prioritizing larger EVs due to their (understandable) higher profitability.

  • @eileen_a_b

    @eileen_a_b

    11 ай бұрын

    Agreed!!! It's disappointing to see companies looking to build only on profit rather than what people want. I can't imagine that tactic will work because people who want smaller cars aren't going to buy big and pricey just because that's what they're offering.

  • @RodGreenshields

    @RodGreenshields

    2 ай бұрын

    @@eileen_a_b Or maybe the only way to fund research into EV technology and eventually bring the price down is to sell it to wealthier people willing to pay for premium EVs. Don’t forget that ABS, cruise control, and a whole bunch of other technologies all started in more expensive cars before becoming affordable to go mainstream. According to a recent research report I read, Rivian loses $40k-$45k per vehicle they sell. They’re still trying to scale the expensive technology.

  • @LoveStallion
    @LoveStallion16 күн бұрын

    I am 1000% here for the Cole Motor Rickshaw Company' glorious building entrance. 6:13

  • @Dogbehu
    @Dogbehu16 күн бұрын

    I'd strongly disagree about the higher maintenance expenses, but the rest are fair shots. It's also good to point out that with high enough mileage, you wipe out all those extra costs with fuel savings...

  • @MrSmith-ok7tl
    @MrSmith-ok7tl3 ай бұрын

    Great video, but you forgot fire risk. EV lithium ion batteries have increased fire risk. While the likelihood is very low, the damage that will occur from a Li-ion battery fire is substantial (there are videos of EV's burning while underwater, yes - the Li-ion battery is a chemical reaction that can burn underwater). For this reason, I think keeping an EV in your garage has some increased risk for which owners should be aware. I park my F150 lightning outside (it doesn't really fit in the garage anyway).

  • @captainofbluepearl

    @captainofbluepearl

    17 күн бұрын

    FYI Gas cars 11x more likely to catch fire.

  • @Steve_in_NJ
    @Steve_in_NJАй бұрын

    For me, who just leased a KIA Niro EV Wave, the positives FAR outweigh the negatives. Here's why. I live in NJ. I received both Federal and State tax credits as I leased. I get $250 back from one NJ Agency for buying a level 2 charger (ChargePoint); another $1500 (give or take) back from the Utility company for the cost of professional installation (no need to upgrade my electrical panel), and KIA gives you 500 kWh free with Electrify America. I paid no NJ sales tax, and I have solar roof panels so my home charging will basically be free. My monthly lease payment is much lower than my previous Hyundai lease amount, which will help offset the increase in my insurance premium. Finally, I don't drive a whole lot, so my tire life should last a couple of years before they may need to be replaced. Overall, EV driving isn't for everyone -- why hybrids are the biggest sellers -- but for me, the EV version was less than the Hybrids because nobody wants an EV, so my dealership was more "generous" in lowering the final selling price; as well as not charging me for the "crap" add ons they put in the car, such as Nitrogen in the tires!!

  • @jandraelune1
    @jandraelune111 ай бұрын

    Cali has a state sponsored credit of an aditional $7500 and on top of that for low income another up to $9000 for a total of $21,000 off, so not surprising that Cali is leading in EV sales and ownership.

  • @normt430

    @normt430

    11 ай бұрын

    Colorado is up to $24,000 off!

  • @BradThePitts

    @BradThePitts

    11 ай бұрын

    In California, if you make a $150,000 a year or more you get either the rebate OR the carpool lane sticker.

  • @jimbocharles2428
    @jimbocharles2428Ай бұрын

    You forgot to add the cost of coffee and snacks usually purchased whilst recharging away from home.

  • @cs_fl5048
    @cs_fl50483 күн бұрын

    Yeah...I had a Nissan Araya blue, just like the first car in your video...the higher end....and at 732 miles is was T-boned and totaled. Fortunately I have a decent record and my insurance didn't go up. I have a very good company and good credit rating. I decided on an Ioniq 5 to replace it. I wish I could justify the cost of Witricity. I do have two EVSEs on 40 amp 14-50s.

  • @nikoslaskaridis677
    @nikoslaskaridis67722 минут бұрын

    Great video. I should mention though that it's US-oriented, and it seems that there are still less incentives there comparing to Europe. In my country, the government substracts from the price from 9000 to 11000 euros. Also, the annual registration fee is zero (comparing to 250 euros for ICE) and the insurance cost has no difference at all. Additionally, since we use 220V it's much cheaper to install a wallbox - you can even charge with 3.5kW from a special house plug. Same as in the US, charging from home is 3 times cheaper than gas. We can also choose from Chinese brands like MG and BYD and get cars with amazing specs in the price of a Yaris. I should state also that out-of-warranty issues in battery don't need complete battery replacement, just the cell that has the problem, which now may cost about 800 euros, but after 7-8 years that the car will be out of warranty it could be less than 200.

  • @EVPulse

    @EVPulse

    Минут бұрын

    We are a US-based so we appreciate the insight.

  • @eileen_a_b
    @eileen_a_b11 ай бұрын

    I wonder if you can do a video comparing the benefits of replacing an EV after say, 6-8 years, when the battery warranty is done to keeping it for the life of the car after paying it off. I kept my last gas car 15 years (almost 16). Now that I have an EV, I wonder if it's worth doing the same with an EV.

  • @EVPulse

    @EVPulse

    11 ай бұрын

    This is an excellent idea! We'll add it to a list of videos we want to produce. Thanks for watching and commenting!

  • @BogeyTheBear

    @BogeyTheBear

    2 ай бұрын

    Have to wonder how each car model behaves as the battery degrades. The big question is whether your aging EV simply needs to be recharged more often, or is it programmed to stop working completely once the battery gets to a truly terrible state?

  • @JMulachMulach
    @JMulachMulach2 ай бұрын

    Thanks

  • @OtisFlint
    @OtisFlint10 ай бұрын

    1) Go to your Ford dealership. There are no F150s around for less than mid 60s 2) Check your state. My state has no additional reg fees. Even the ones that do, it's usually a small fraction of what you'd spend on gas. 3) My M3P is the cheapest vehicle i've ever insured, but shop around. Some insurance companies are very high for EVs, but not all. Progressive was cheaper for my M3P than my VW GTI 4) I could care less about battery replacement costs because i'll never be doing it 5) 48A charger is $425, install is a standard 220v circuit. 3 wires and breaker, anyone can DIY it with a little research. 5) Tires wear 15% faster. The $900 or so i'll be spending on tires is same as i'd be spending on an ICE sports sedan. 6) Resale value...yeah that one's a concern. Historically it's been good on my car but we'll see. 7) $14 at home vs $40 for gas. Electricity is cheap 8) Time to charge, if you have a level 2 home charger, is usually irrelevant. It only matters on days where you drive 250+ miles and need to stop at a charging station. For most Americans, that's a few days / year where you may need a 10 minute charge stop to complete a trip, unless you're the type that always goes on long road trips.

  • @ObiePaddles

    @ObiePaddles

    Ай бұрын

    The time to charge is a massive saving over ICE cars. Local journeys covered by overnight charges. Takes 30 seconds to plug in vs having to go to petrol station every week or two weeks. And on long journeys I dont have to be with the car while it charges, unlike putting gas in. I usually charge where I want a break every 2-3 hours, so this adds no time to my stop. Over 4 years of EV ownership I have waited at chargers a total of 20 minutes over and above my normal break time. I’ll take that.

  • @sow_scout4989
    @sow_scout498911 ай бұрын

    I'm in a waitlist for an EV car. I'd like to see a video about the benefits and disadvantage between leasing and financing. Great video btw!

  • @TheTom2video
    @TheTom2video11 ай бұрын

    Thanks for sharing this info. I’m fully aware of the unexpected expenses in owning an EV. There is something coming down the pipe which is the maintenance of public roads tax. When you pay for gasoline, some of the taxes you’re paying is to maintain public roads. As for the EV owners, the government is working on a solution to be taxed accordingly. So watch out !!!

  • @davelavigne2133
    @davelavigne213311 ай бұрын

    Charging overall is a time saver when you do it at home vs filling up. Even fast charging my ioniq 5 is just slightly longer than filling a tank. I used to fill up at Costco and the line is always 3-4 cars deep. Pumps run at 9 gallons a minute, if everyone is getting 14 gallons thats 1.5 minutes of fill time *4 plus say 30 seconds to transition. 10 minutes minimum if you count me filling up.

  • @cs_fl5048
    @cs_fl50483 күн бұрын

    People don't want to buy used to get an old battery that has reduced efficiency and then get stuck with replacement charge. Where I lived I charged 184 miles taking 19h21m, before a trip and it costs $5.28

  • @PassportBrosBusinessClass
    @PassportBrosBusinessClass11 ай бұрын

    I ordered a Cadillac Lyriq AWD Sport 3 😮

  • @EVPulse

    @EVPulse

    11 ай бұрын

    Nice!

  • @alanpeterson6768
    @alanpeterson676811 ай бұрын

    A fair assessment of costs. It's important to get the whole story of EV ownership out though I agree that the benefits greatly outweigh the drawbacks. I'm not sure that I agree with you about the cost in time. While it is certainly true that long-distance travel takes longer, for most of the year I am saving time by not visiting gas stations.

  • @EVPulse

    @EVPulse

    11 ай бұрын

    You could also argue that overnight charging doesn't take any time at all, because you aren't staying with the car while it charges. You're doing other things.

  • @kelalamusic9258
    @kelalamusic92583 ай бұрын

    Correction. Registration fees, well for me that is, comes in as huge savings. Here in AZ, a person with a new car (ICE vehicle) can pay around $500/year. My new Leaf costs we a whopping $45 for FIVE years.

  • @90cents49

    @90cents49

    Ай бұрын

    In GA it’s EV Registration renewal fee is $210 and for ICE vehicles it’s 20$

  • @kelalamusic9258

    @kelalamusic9258

    Ай бұрын

    @@90cents49 does it go by year of vehicle where you are? It does here, but EVs seem to get a break.

  • @90cents49

    @90cents49

    Ай бұрын

    @@kelalamusic9258 funny thing GA has an EV Penalty fee🙂

  • @coldwarkid6611
    @coldwarkid661111 ай бұрын

    Actually statistics show the used car market for ICE vehicles is softening but the used EV market is cratering. As for new EV's most dealers have over a 100 day supply. Ford had several hundred thousand preorders for the Lightening and the Mach E. Those orders evaporated so now there are plenty to choose from.

  • @mayumihirtzel7023
    @mayumihirtzel702311 ай бұрын

    Exemplary summary, as always. Thanks for the great rundown! I always chuckle when Craig says "gubmint". :D

  • @EVPulse

    @EVPulse

    11 ай бұрын

    He says it that way in person all the time, too.

  • @gregyohngy
    @gregyohngy10 ай бұрын

    I want to remind you that a Tax Credit is not the same as a Rebate. You have to owe taxes to use a tax credit. Rebates are available without owing taxes.

  • @STRET24
    @STRET2411 ай бұрын

    Beware Tesla body/paint repairs. Has to be a certified collision shop which means mini-monopoly and price gouging. Scraped rear door and quarter panel…should be max $2-$3k. Quotes are $5-$6k.

  • @johnbirk843
    @johnbirk84311 ай бұрын

    There's an old saying "a half-truth, is a whole lie". I would dare say you hook perfect this:-( Scientia Habet Non Domus, (Knowledge Has No Home) antiguajohn

  • @BradThePitts
    @BradThePitts11 ай бұрын

    Who ever said EVs ARE cheap?

  • @Aerostealth
    @Aerostealth10 ай бұрын

    When did you go over to the dark fossil fuel side?

  • @EVPulse

    @EVPulse

    10 ай бұрын

    We didn't. But some things, at least right now, are a bit pricey but those prices will come down.

  • @PShawtx
    @PShawtx10 ай бұрын

    Most of what he talks about he does not say how much it costs. That makes this a poor vid.

  • @BigBossBallSoHard
    @BigBossBallSoHard2 ай бұрын

    I purchased an EV9 and it actually costs a little less than my ICE SUV, insurance wise.

Келесі