Last post on Apr 10, 2013 at 10:32 AM
You are in the Chevrolet Volt
What is this discussion about?
Chevrolet Volt, Electric Cars, Sedan
#70 of 140 Comparing lease costs...
Oct 25, 2010 (8:24 am)
Chevy has a $350/month lease, right? I'm wondering if this accounts for the $7500 federal tax credit?
By my math, I live in the DC area, one of the Volt markets, and commute 26 miles each working day, about 22 times per month (working days). I use about a gallon of gas each day, so it costs me a little under $3 a day. At current prices let's call it $60 per month.
For me I may never need to buy gas - so potentially I'd save roughly half on the cost of "fuel", if you want to call it that.
But...when I look at a $350/month lease, vs. a $199/month lease for a Cruze or similar compact car (maybe even less), it doesn't really add up. Even if I got free solar and paid zero for electricity, I'd have to make up the $151/month discrepancy in the lease cost, or about $6.86 for each of those 22 working days. Even if gas prices doubled it wouldn't add up.
The $7500 credit may offset that, though. Let's say it's a 3 year lease, apply $2500 credit per year, or $208.33 per month. That would be enough to make the Volt cheaper to own than a Cruze for 3 years.
Question is - can you get the $7500 credit on a lease?
Also, what are the terms on that $350/month lease?
#71 of 140 Re: Don't be fooled [ateixeira]
by PFFlyer@Edmunds HOST
Oct 25, 2010 (8:25 am)
I'm not sure thart "happy" is the right word, but at the moment consumers are willing to pay what fuel costs. The cost to "fuel" to Volt isn't going to settle far from that. let's use the electric only range or 50 miles. Say I was within that range for my daily driving. At 28-30 mpg (which is what I get on my Altima around town) I use roughly 2 gallons of gas daily. That's $5.75 at today's price at the pump. So the way I'm looking at the "$1.50 to fill up" claim is that it seems too good to be true, so in all likelyhood, it's not
#72 of 140 Re: Don't be fooled [pf_flyer]
Oct 25, 2010 (8:33 am)
Maybe it would help to look at TCO, i.e. total costs.
You save on fuel costs, but spend more to acquire one in the first place.
The idea of never (or rarely) having to go to the gas station is appealing to me. My Miata's low fuel light goes on after just 280 city miles or so, since the gas tank is small.
Then again it costs half what a Volt does, pre-rebate at least.
#73 of 140 Re: Don't be fooled [pf_flyer]
Oct 25, 2010 (8:42 am)
This is what I've calculated also. That is, you're not going to get 50 miles range for $1.50. At least most people won't.
30 miles for $1.50 is closer to reality for the average consumer. And don't even get me started on the "Zero Emissions" claims. There is no free lunch. Coal-fired power plants are among the worst polluters on earth. The "Zero Emissions" claims go up in smoke as soon as you plug in an electric vehicle.
#74 of 140 Re: Don't be fooled [dodgeman07]
Oct 25, 2010 (9:06 am)
I prefer the term "Remote Emissions", because they simply happen somewhere else, i.e. not at the tail pipe.
#75 of 140 The electric cost?
Oct 25, 2010 (9:10 am)
I looked in the Leaf thread to see if anyone there is worrying about the cost for recharging over there. No one is concerned about the cost over there yet. The Leaf must use a different electric source than the Volt?
#76 of 140 Re: The electric cost? [imidazol97]
Oct 25, 2010 (9:14 am)
I want to see a bicycle-powered generator charging the battery. That plus solar and wind. Then you've really got zero emissions.
If you've never seen Living with Ed, it's a great show. He makes toast by riding on his bicycle. It's a funny show, most the of humor coming from his relationship with his wife. They drive each other crazy.
#77 of 140 Re: The electric cost? [imidazol97]
by PFFlyer@Edmunds HOST
Oct 25, 2010 (9:28 am)
Nobody anywhere seems to be worried about recharging costs as if there is going to be zero impact on electric rates when the demand of charging electric vehciles is added to the load on the grid. I just don't get how that can NOT be looked at.
#78 of 140 Re: Comparing lease costs... [ateixeira]
Oct 25, 2010 (9:44 am)
Even if I got free solar and paid zero for electricity, I'd have to make up the $151/month discrepancy in the lease cost, or about $6.86 for each of those 22 working days. Even if gas prices doubled it wouldn't add up.
But you're not counting the value of the smug grins that Volt drivers get to enjoy! Surely thinking "I'm so virtuous" is worth $151/month!
#79 of 140 Re: The electric cost? [pf_flyer]
Oct 25, 2010 (10:11 am)
My opinion on this is taken from my gut feeling, along with things I have read about this situation.
First, in the beginning, almost ALL the charging will be done at night, when the demands on the grid are at their lowest.
And in addition, the number of EVs on the road will ramp up slowly.
Most people who will buy them as early adopters will be people who are confident they can do their commute mostly or entirely on electric power. This will leave them as "night chargers" only.
So because of those reasons, I'm almost certain that "Grid Impact" will be small at first.
Later, say five years from now, things might change.
By then, ASSUMING THAT EVs take off in popularity similar to what happened to Hybrids in the first 5 years, there will be more of a Grid Impact.
There will be charging stations at random locations, Interstates, and at workplaces. This will be the era when more people WILL start charging during the daytime. This WILL affect the Grid.
Hoping that by then, utilities will have ramped up their non-coal alternative sources and will have enough capacity to handle it.
Only Time Will Tell.