To be honest this thread and the Bolt has me thinking about an EV. Unfortunately we are in a holding pattern with some lifestyle changes.
I keep trying to make the math work on a Bolt, but the purchase/lease prices are still pretty steep.
- If we bought a Bolt, I would take over our current Volt..and all my driving is totally within electric range so the fuel consumption
would go to zero.
- Right now given the high mileage my wife drives every month, electric costs aside
she's averaging about $150/month in gas...which in the grand scheme of things is about $250.00/month less then what she was burning with her old 300.
- I'm burning about $125/month in gas in the Magnum, down from over $200/month before we got the Volt when we used to drive the Magnum more, but we've now shifted our mileage heavily towards driving the Volt whenever possible.
Eliminating both we have a potential savings in gas of $275/month in gas if we were driving 100% electric, not including the cost of electricity altenrately, but we'd still be >$200/month in savings easily.
But in the end, those savings don't come close to fully offsetting the costs, so we'd effectively be left with a car payment still. The 3 year lease on a Bolt, after the full eligible tax credit is still $673/month tax in for the premiere model, with $0 down. Even with a small downpayment (whatever my Magnum is worth when I'm done with it), say.... $650/month.
$650-$200 in gas savings = $400/month net cost of ownership.
In the end when, for us, driving electric is all about saving money, the math still doesn't work....so in the short term it'll likely be another Volt next spring for a few years until lower priced Bolts hit the market.
And in reality given our high mileage driving, a lease likely wouldn't work anyways. The math on financing is even less attractive unless we go on a never-never plan when we're still making payments on the car 90 years later...which I will not do.