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Originally Posted by heavytbfagain
I've been contemplating making the jump to EV for a while. There's a lot good info in here about ongoing cost (particularly for fuel) savings for EV vs. ICE. However I'm not seeing much about the massive up-front cost differential in these vehicles. You're all talking about making the switch like it's a guarantee to be financially prudent. Doing a quick comparison of various models of SUVs in the Canadian market (the style I'd like) and even with the government incentives I'm seeing at least a 20% up front premium. Aren't you all just paying for the lifetime fuel savings up front on these?
I can appreciate the environmental impact of EV vs. ICE, but if that's the only advantage we have a long way to go yet. I'm certainly open to your perspective as I'd love to do away with the gas pump permanently.
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It really depends on kms driven, specific model, and electricity/fuel prices. A used EV is a no brainer right now.
Having said that, no new vehicle purchase is a wise fiscal decision so I suppose you'd pick what you want within your budget. If you can get a higher price vehicle that has a similar lifetime cost of ownership it makes it more about what you want. EVs are continuing to narrow the gap on price and parity isn't far away