Quote:
Originally Posted by Flashpoint135
Perfect - real data to play with! So lets compare - this is best case for electric - short trips, cheap electricity. The Volt costs over $40,000 and uses about $25 for 500 miles each month.
My 1LT Camaro cost $24,000 out the door. I get a little over 24 miles per gallon, so at $4.00 per gallon of gas if costs me about $83 in gas for that same 500 miles (500/24 x $4.00). So the savings per month driving the Volt is $83 - $25 = $58.
Therefore, at $58 per month savings, it will take the Volt owner over 22 years to make up the $16,000 price difference between the Volt and my V6 Camaro (16,000 / 58 = 275.86 months; 275.86/12 = 22.98 years).
Imagine how much worse these numbers would look if compared against a Cruze that you buy for about $18,000 and gets better mileage in the high 30 mpg range (let's pick 38MPG). Cruze cost to go 500 miles is $53(500/38 x $4.00). Volt cost savings over Cruze is $28. Price difference is $40,000 - $18,000 = $22,000. Years for the Volt owner to break even is 22,000/28/12= 65 years.
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Are you forgetting about the possible $11,500 in Rebates you get back from buying a Volt at tax time?
So, taking your math equation, 16,000 price difference, let's say the average refund for someone that owes $6,500 in Federal, and their state qualifies for a 10% rebate for the MSRP of the vehicle, it's a total of $10,500. So, deduct the Rebates from the $16,000 price difference, it will leave you at $5,500 approx. left over. Now, take that $58 and you should end up with approx. 6-7 years before you reach an equal payoff amount and come even. Then from there on, it's all money in your pocket.
Obviously, no one has claimed the savings are instant, and most savings are long term, and don't have a playing factor for several years. This is also assuming that every person only saves $58 each month. We will be saving approx. $75 per month, and within 3 months I will have another $25-$28 a month less in insurance from the cost of my car we traded in to save on the Volt for 3 years clean (I started with State Farm at that time) So, this will bring my savings to a bit over $100 a month, and in 4 years, I will have more than come clean on the previous payments/gas bills and from then on, we continue to save.
Obviously, this is a rough guesstimate, but nonetheless, you are still saving a decent amount of cash a month/year by buying one.
