Real World Figures
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I am looking to change my car and buy a Skoda Enyaq. I have a 2nd petrol car for long distance road trips so range is not a issue.
My journeys are mostly 50 mile round trips doing 15k miles per year.
I can use my Current Car as a 8k deposit and pay £363 per month with a 19k balloon payment. I am thinking the skoda will cost me £163 per month after fuel saving.
1. i pay £65 to £70 per week for petrol so saving at least £50 per week.
2. I will be charging at home 100%
I have used pcp before and i think the GFV protects me if EV values drop too much ( I handed back a Audi A6 with £6k negative equity when everyone stopped buying big diesel cars.
My journeys are mostly 50 mile round trips doing 15k miles per year.
I can use my Current Car as a 8k deposit and pay £363 per month with a 19k balloon payment. I am thinking the skoda will cost me £163 per month after fuel saving.
1. i pay £65 to £70 per week for petrol so saving at least £50 per week.
2. I will be charging at home 100%
I have used pcp before and i think the GFV protects me if EV values drop too much ( I handed back a Audi A6 with £6k negative equity when everyone stopped buying big diesel cars.
Edited by sw67 on Saturday 4th November 09:39
What are you basing your at home charging costs on?
When I was looking at this I didn't factor in the cheap overnight tariffs and just used normal electricity rates so by the time I had the car it actually worked out a lot cheaper.
Also take in to account servicing in your costs, the electric should require servicing less than the petrol although that may be countered by increased insurance costs.
When I was looking at this I didn't factor in the cheap overnight tariffs and just used normal electricity rates so by the time I had the car it actually worked out a lot cheaper.
Also take in to account servicing in your costs, the electric should require servicing less than the petrol although that may be countered by increased insurance costs.
Easiest way to work out your cost is to find the typical miles per kWh for the types of journeys you do. 4 miles/kWh is very typical but could be a little different for a Skoda. The unit rate you are charging at if you have an EV tariff will be around 7.5-9p. So per mile it will cost 1.9-2.25p. Obviously tweak those numbers to fit your car better. Mine are from my Tesla.
2022 Niro EV. 4 miles/kwh (3 with the heater on). Usage approx 75% @ 60mph, 25% @ 30mph.
Charging at home is circa 20p kwh via Octopus Tracker.
EV charge only accounts for 1/3 of household energy use so cheap EV tariffs actually work out more expensive.
Charging at home is circa 20p kwh via Octopus Tracker.
EV charge only accounts for 1/3 of household energy use so cheap EV tariffs actually work out more expensive.
Edited by Mr Hoops on Monday 6th November 11:49
sw67 said:
My journeys are mostly 50 mile round trips doing 15k miles per year.
On that type of use you are looking at a likely efficiency of around 3.5 miles/kWh or even lower if you are heavy with your right foot - https://ev-database.org/uk/With electricity at 7.5p/kWh if you had a compatible charger then that is £321 a year in fuel costs. If you don't have a compatible charger then the cost will be higher and any saving will be less.
Therefore to save the £200 per month on fuel costs you expect, then your existing driving would need to be as low as 37mpg - if you get more than that you will be saving less than £200 a month.
Personally I would suggest that a 50 mile round trips doing 15k miles per year is not a good type of use for an EV to make big savings - lots of short journeys are where the big savings are to be made.
The true cost needs to include the £8k deposit over how many years?
vs the true cost of any other option, which includes depreciation if you keep the owned car, risk of major bills and all the unknown unknowns?
If you want the Enyac and can afford it, just be honest and buy the damned thing because you want it.
vs the true cost of any other option, which includes depreciation if you keep the owned car, risk of major bills and all the unknown unknowns?
If you want the Enyac and can afford it, just be honest and buy the damned thing because you want it.
OutInTheShed said:
The true cost needs to include the £8k deposit over how many years?
vs the true cost of any other option, which includes depreciation if you keep the owned car, risk of major bills and all the unknown unknowns?
If you want the Enyac and can afford it, just be honest and buy the damned thing because you want it.
Unfortunately while i can afford it i cant make the figures work after talking to my local dealer. Assuming the car is worth the same as the GTFV after 3 years i would lose £7k per year new and ex demo. Thats too much for me.vs the true cost of any other option, which includes depreciation if you keep the owned car, risk of major bills and all the unknown unknowns?
If you want the Enyac and can afford it, just be honest and buy the damned thing because you want it.
Dave Hedgehog said:
That's a terrible rate Intelligent Octopus Go is 7.5p kwh
As I said in my post, that rate doesn't work with our usage. 7.5p for 4 hours and 31p for the other 20 hours vs 20p all day. I've done the maths and the EV tariffs are at least 20% more expensive over an average week. You need to look at your individual case and not assume the EV tariffs are best.I should also add that 20p is on the higher end for the tracker at the moment. It was 13p one day last week.
Edited by Mr Hoops on Monday 6th November 19:25
Mr Hoops said:
Dave Hedgehog said:
That's a terrible rate Intelligent Octopus Go is 7.5p kwh
As I said in my post, that rate doesn't work with our usage. 7.5p for 4 hours and 31p for the other 20 hours vs 20p all day. I've done the maths and the EV tariffs are at least 20% more expensive over an average week. You need to look at your individual case and not assume the EV tariffs are best.I should also add that 20p is on the higher end for the tracker at the moment. It was 13p one day last week.
PF62 said:
On that type of use you are looking at a likely efficiency of around 3.5 miles/kWh or even lower if you are heavy with your right foot - https://ev-database.org/uk/
With electricity at 7.5p/kWh if you had a compatible charger then that is £321 a year in fuel costs. If you don't have a compatible charger then the cost will be higher and any saving will be less.
Therefore to save the £200 per month on fuel costs you expect, then your existing driving would need to be as low as 37mpg - if you get more than that you will be saving less than £200 a month.
Personally I would suggest that a 50 mile round trips doing 15k miles per year is not a good type of use for an EV to make big savings - lots of short journeys are where the big savings are to be made.
I've spent the last 5 years doing a 55 mile round commute in my i3 with a mixture of A & B roads followed by 5 miles of Dual carriageway.With electricity at 7.5p/kWh if you had a compatible charger then that is £321 a year in fuel costs. If you don't have a compatible charger then the cost will be higher and any saving will be less.
Therefore to save the £200 per month on fuel costs you expect, then your existing driving would need to be as low as 37mpg - if you get more than that you will be saving less than £200 a month.
Personally I would suggest that a 50 mile round trips doing 15k miles per year is not a good type of use for an EV to make big savings - lots of short journeys are where the big savings are to be made.
I have averaged 4.2m/kW across the year (can hit 6 m/kW in the summer) and charge on a 3 pin plug at home using Octopus Go. My average cost has been less than £10 per month.
With energy prices having gone up, i'm now on 7.5p unit rate overnight and its now approx £20 per month.
Sorry to have debunked some of your points
PF62 said:
Mr Hoops said:
Dave Hedgehog said:
That's a terrible rate Intelligent Octopus Go is 7.5p kwh
As I said in my post, that rate doesn't work with our usage. 7.5p for 4 hours and 31p for the other 20 hours vs 20p all day. I've done the maths and the EV tariffs are at least 20% more expensive over an average week. You need to look at your individual case and not assume the EV tariffs are best.I should also add that 20p is on the higher end for the tracker at the moment. It was 13p one day last week.
My average per unit is about 13p these days. Buying a new heat pump clothes dryer with a timer was one of the biggest factors I think, it's since paid for itself. It runs only in the cheap hours. As does the dishwasher.
If you're feeling crafty you can also limit the charge speed of the car to half normal rate, so you get twice as many cheap hours... IO will generally give at least 10 hours of cheap rate providing the car needs charging...
TheDeuce said:
This is true. And once you've shunted a few other household usages into the cheap hours, it's virtually always the case for any EV driver that overall IO is the cheapest option. Even those that do minimal miles/charging.
My average per unit is about 13p these days. Buying a new heat pump clothes dryer with a timer was one of the biggest factors I think, it's since paid for itself. It runs only in the cheap hours. As does the dishwasher.
If you're feeling crafty you can also limit the charge speed of the car to half normal rate, so you get twice as many cheap hours... IO will generally give at least 10 hours of cheap rate providing the car needs charging...
I charge less than one full charge per week at home as I get free charging at work and it would be on average 20-30% more expensive for me compared to Agile. My wife and I both WFH most days and have the washing machine and tumble dryer on during the day when the rate is at most 15p rather than the 30p it would be on IO. We have the advantage of being able to wash multiple loads and dry them while awake as if using IO you aren't exactly going to get out of bed to move a load between machines or put another on. The other advantage is that when the wind is blowing you get plunge pricing so I avoid charging for free at work and instead fill the car with negative priced electrons.My average per unit is about 13p these days. Buying a new heat pump clothes dryer with a timer was one of the biggest factors I think, it's since paid for itself. It runs only in the cheap hours. As does the dishwasher.
If you're feeling crafty you can also limit the charge speed of the car to half normal rate, so you get twice as many cheap hours... IO will generally give at least 10 hours of cheap rate providing the car needs charging...
IO definitely makes sense for anyone doing a reasonable mileage that needs to charge most nights but it is far from virtually always cheaper. If you are willing/able to be flexible with when you charge then agile and tracker can work out a fair bit cheaper overall as you get cheaper daytime energy and lower low prices. The downside is that if you absolutely must use large amounts of energy between 4-7pm then you can be paying anywhere from 35-65p at that point. We just use the gas hob on the worst days and do no laundry at peak times and it works for us without too much micromanaging.
Everyone's use case is different so it makes sense to do the sums although there are apps that can help with comparisons
Everybody obsesses over half a groat per mile differences with novelty tariffs which might not last as long as the PCP contract.
The real money is purchase/rental and depreciation.
If you really need to worry whether a mile is costing you 3p, 6p or 9p, you probably shouldn't be looking at new cars.
The real money is purchase/rental and depreciation.
If you really need to worry whether a mile is costing you 3p, 6p or 9p, you probably shouldn't be looking at new cars.
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