When buying a car or anything else, you need to be a good shopper. You need to look not only at the price tag but all the costs associated with the product and the cost of repairs or value when selling. If you did that NO ONE would buy an EV.
“EV batteries use high-demand metals like nickel, cobalt, lithium and manganese, which are also used in phone and laptop batteries. Plus, you need a specialist to replace them. Most car companies only let you get a replacement at one of their dealerships.
EV batteries typically come with eight-year warranties — but beyond that, to replace it, you’re looking at $16,000 minimum.
So, if you try to sell your EV after eight years, who wants to pay for a car—and then another $16,000 for a battery?
In an accident—repairs are significantly higher. Insurance, significantly higher. Now, with high electricity costs, even recharging at home does not save any money.
Are you rich enough to afford and EV?
Guilty as charged
Kim Kommando, 5/2/24 kommando.com
Here’s a shocker you need to know. Replacing the battery in an electric vehicle can set you back up to $50,000. For those of you keeping track at home, that’s more than a brand-new Tesla Model 3. I’m not beating up Tesla; all EV carmakers hope you don’t figure this out.
OK, how long do EV batteries last?
Hmm, 10 years? 20? Nope. According to a Daily Mail investigation, the average EV battery lasts about eight years. After that, there’s no hard-and-fast rule for knowing how much time you have left.
Many EVs lose up to 12% of their charge capacity by the sixth year, and some lose even more. Case in point: By the time a Nissan Leaf reaches eight years old, it may have lost up to 20% of its battery life — 99 miles per charge versus the 124 per-charge miles you got while it was new.
Why so pricey?
EV batteries use high-demand metals like nickel, cobalt, lithium and manganese, which are also used in phone and laptop batteries. Plus, you need a specialist to replace them. Most car companies only let you get a replacement at one of their dealerships.
EV batteries typically come with eight-year warranties — but beyond that, to replace it, you’re looking at $16,000 minimum.
If you’re considering an EV or already have one:
- Charge at home. When you can, use a home-based, mains-connected charger (e.g., a wall outlet) compared to a high-speed charger.
- Weather makes a big difference. EVs operate best between 77 and 113 degrees Fahrenheit.
- Colder temps slow down EV batteries. Frigid weather also reduces their charging capacity over time.
Buying a used EV
Most EV battery warranties cover the first eight years or 100,000 miles, whichever comes first. Make sure you know exactly how much time is left on the EV battery’s warranty and how much it’ll cost to replace it.
🤣 Now, before you say “Tesla” backward, make sure everyone’s ready. Alset? (Oh, tough crowd today!)
