Monthly budget

[Nick87]

Sounds about like everyone under 20 working in the trades. I had a guy that bought a brand new truck and justified it because he needed new tires for his old truck.

This guy is almost forty years old.

 

[The_Jim]

This guy is almost forty years old.

So was the tire guy, paying child support for 5 kids if I remember the number right. Got to love the people you meet at work…

 

[NoWiser]

So, this thread got me thinking a bit, and that’s usually not a good thing.

With my wife’s daily commute, an EV would save us (between gas and regular maintenance) about $300-$350 per month, given current fuel prices, vs driving her 2017 Sienna with 180k miles on it. Probably a bit less than that when you figure insurance, tabs, and more frequent tire replacement, so let’s say $300/mth.

If we took our current savings for a vehicle and sold her Sienna, we could get her into 1-2 year old EV Crossover with about $300 monthly payments and, presumably, less risk for a major repair over the next 5 years.

Pros: Newer vehicle, no stopping at a gas station, less maintenance, staggering vehicle ages (my truck is the same age and mileage as her van.)

Cons: Vehicle loan that you NEED to make every month.

That said, she’s not changing jobs anytime soon. The amount of gas she burns will not change. The only thing that changes is price per gallon.

I’m not sure what the smart move is on this one.

 

[Treeshark]

driving her 2017 Sienna

Aside, and man-card be damned, but that is one of the greatest vehicles ever made.

We traded one in last year and I almost ran back in and told them I’d buy it back.

 

[jryoung]

So, this thread got me thinking a bit, and that’s usually not a good thing.

With my wife’s daily commute, an EV would save us (between gas and regular maintenance) about $300-$350 per month, given current fuel prices, vs driving her 2017 Sienna with 180k miles on it. Probably a bit less than that when you figure insurance, tabs, and more frequent tire replacement, so let’s say $300/mth.

If we took our current savings for a vehicle and sold her Sienna, we could get her into 1-2 year old EV Crossover with about $300 monthly payments and, presumably, less risk for a major repair over the next 5 years.

Pros: Newer vehicle, no stopping at a gas station, less maintenance, staggering vehicle ages (my truck is the same age and mileage as her van.)

Cons: Vehicle loan that you NEED to make every month.

That said, she’s not changing jobs anytime soon. The amount of gas she burns will not change. The only thing that changes is price per gallon.

I’m not sure what the smart move is on this one.

Factor in charging costs, potential insurance changes, and tire wear. Might be splitting hairs, but something to consider.

 

[sclancy27]

So, this thread got me thinking a bit, and that’s usually not a good thing.

With my wife’s daily commute, an EV would save us (between gas and regular maintenance) about $300-$350 per month, given current fuel prices, vs driving her 2017 Sienna with 180k miles on it. Probably a bit less than that when you figure insurance, tabs, and more frequent tire replacement, so let’s say $300/mth.

If we took our current savings for a vehicle and sold her Sienna, we could get her into 1-2 year old EV Crossover with about $300 monthly payments and, presumably, less risk for a major repair over the next 5 years.

Pros: Newer vehicle, no stopping at a gas station, less maintenance, staggering vehicle ages (my truck is the same age and mileage as her van.)

Cons: Vehicle loan that you NEED to make every month.

That said, she’s not changing jobs anytime soon. The amount of gas she burns will not change. The only thing that changes is price per gallon.

I’m not sure what the smart move is on this one.

How many years is the break even?

 

[Nick87]

So, this thread got me thinking a bit, and that’s usually not a good thing.

With my wife’s daily commute, an EV would save us (between gas and regular maintenance) about $300-$350 per month, given current fuel prices, vs driving her 2017 Sienna with 180k miles on it. Probably a bit less than that when you figure insurance, tabs, and more frequent tire replacement, so let’s say $300/mth.

If we took our current savings for a vehicle and sold her Sienna, we could get her into 1-2 year old EV Crossover with about $300 monthly payments and, presumably, less risk for a major repair over the next 5 years.

Pros: Newer vehicle, no stopping at a gas station, less maintenance, staggering vehicle ages (my truck is the same age and mileage as her van.)

Cons: Vehicle loan that you NEED to make every month.

That said, she’s not changing jobs anytime soon. The amount of gas she burns will not change. The only thing that changes is price per gallon.

I’m not sure what the smart move is on this one.

Has anyone heard had a ev long term? I qlwqys hear about costly battery replacement and how fast they depreciate. None of which was first hand though. I don't think I know anyone who owns one personally.

 

[NoWiser]

Factor in charging costs, potential insurance changes, and tire wear. Might be splitting hairs, but something to consider.

I think I have those pretty accurately figured into the $300/mth savings over the Sienna. She burns quite a bit of gas.

 

[sclancy27]

Has anyone heard had a ev long term? I qlwqys hear about costly battery replacement and how fast they depreciate. None of which was first hand though. I don't think I know anyone who owns one personally.

My brothers wife has a Tesla. The market on those has dropped precipitously.

She loves it, but they only drive it in town. All the longer trips they use his Toyota to avoid stopping and charging.

They had to spend 2-3K to get a charging setup installed at the house, make sure you factor that in. Once the batteries are toast, it is a big time expenditure, that's why the used prices are so good on EVs.

 

[NoWiser]

How many years is the break even?

I think break-even would be immediate, unless gas prices drop considerably. If a big repair pops up on the Sienna, we’d be ahead with the EV. But, so far the van has been great. I’ve been able to do all the maintenance and repair, other than a water pump I didn’t have time to tackle. And, there’s something to be said about not having a car loan, even if it might make sense financially.

 

[cgasner1]

Factor in charging costs, potential insurance changes, and tire wear. Might be splitting hairs, but something to consider.

How new is your house? A lot of people don’t take into consideration the actual power grid and that they only have a 100 amp panel. Then it can cost a lot for an upgrade. Did one a couple years ago we had redo half the block to make it work

 

[NoWiser]

How new is your house? A lot of people don’t take into consideration the actual power grid and that they only have a 100 amp panel. Then it can cost a lot for an upgrade. Did one a couple years ago we had redo half the block to make it work

I have 240 in my garage right now. I think 30 amp. I’d have to verify, it might be more.

 

[sclancy27]

I think break-even would be immediate, unless gas prices drop considerably. If a big repair pops up on the Sienna, we’d be ahead with the EV. But, so far the van has been great. I’ve been able to do all the maintenance and repair, other than a water pump I didn’t have time to tackle. And, there’s something to be said about not having a car loan, even if it might make sense financially.

If the payment+insurance/registration difference = gas bill from Sienna, then yes.

You'd need to factor in charging as well, but the above would be close anyway. With that much driving, I'd want charging at home.

 

[Elkmagnet]

I think break-even would be immediate, unless gas prices drop considerably. If a big repair pops up on the Sienna, we’d be ahead with the EV. But, so far the van has been great. I’ve been able to do all the maintenance and repair, other than a water pump I didn’t have time to tackle. And, there’s something to be said about not having a car loan, even if it might make sense financially.

Newer Toyota camry hybrid get an honest 50+ mpg. Its flat impressive in every way. Its also available with awd and it doesn't need a plug in so unlimitedrange. Only down side is tall people getting in and out.
500mi on a 10gal tank.

 

[Elkmagnet]

To the threads title I have never had trouble budgeting in a sustainable manner until recently. I am getting to the point where the only fat left to cut is hunting and fishing related.
The average American is about to take a step back in quality of life if I am any indication.

 

[Nick87]

Newer Toyota camry hybrid get an honest 50+ mpg. Its flat impressive in every way. Its also available with awd and it doesn't need a plug in so unlimitedrange. Only down side is tall people getting in and out.
500mi on a 10gal tank.

You've got my attention

 

[Elkmagnet]

You've got my attention

Id rent one for a weekend If I was in the market for a new car.

 

[cgasner1]

I have 240 in my garage right now. I think 30 amp. I’d have to verify, it might be more.

240 volts doesn’t mean anything and 30 amps will probably charge that car about 5% over night

 

[sclancy27]

240 volts doesn’t mean anything and 30 amps will probably charge that car about 5% over night

I was gonna say, it takes 10 hrs to charge my camper battery on 30 amps.

 

[NoWiser]

240 volts doesn’t mean anything and 30 amps will probably charge that car about 5% over night

I have a 240 circuit in the garage that I think is 30 amps. The garage service is 60 amps and all I run in it is LED lights and overhead door openers. I think I could wire in a 40 amp charger pretty easily. I’d have to double check the wiring.