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Re: It can't really be maintenance free... Posted by Justin VanAbrahams [Email]  (#32) [Profile/Gallery]
(more from Justin VanAbrahams) on Mon, 17 Mar 2014 16:00:48
In Reply to: It can't really be maintenance free..., Cary, Mon, 17 Mar 2014 15:02:05 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The cost of purchasing the vehicle is quite high - $32k - but the cost of leasing the vehicle in California is quite low, about $5500 in fixed costs over three years (after the California rebate). Accounting for increased electricity, a California driver racking up 12,000 miles annually in a car averaging 28mpg buying $3.50 unleaded from Arco will save $100/mo on fuel, so over the course of the lease that's $3600 saved. The real, final cost of this vehicle is $1900 over three years for Mr. Average driver. Driving a new car for three years for $1900 is an unbeatable value. There is almost no reason not do it.
Now, our actual numbers are slightly skewed from this simplified, optimal situation - gas was costing us more than reflected above, but insurance was less (we had liability only). We also optioned up the 500e by two grand (paint, sunroof, something else).
The 15 year old Audi was approaching new tire ($586 in 2010) and brake ($300-ish) time for sure, and who knows about other maintenance costs over three years. We've spent on average $400 annually (tires in 2010, motor mounts and battery in '11, timing belt and oil pump in '12, and I don't remember what the '13 expense was) with me doing all work. Registration in California was $100 annually, oil changes about $120 annually. Given nothing unexpected came up, and a continued $820/yr spent on the Audi, that'd be $2460 total.
Rolling everything up together for our specific situation, the cost of the 500e ends up being just over three grand over three years. Yes, it's more money than we would have spent continuing to run the Audi (given nothing broke...) but not by much and it yields a brand new car in the process and absolutely no financial surprises. As far as I'm concerned, three grand is a great insurance policy, because let's face it, a 15 year old Audi with 155k is just itching to explode its transmission all over the highway. :D
The 500e has no engine, so, no, there are no wear items there. Braking is 95% regenerative (pads only engage below 8mph) - I know Prius owners with less efficient technology on their original brakes at 150k. I would not expect to do the brakes on the 500e in its service lifetime. Yes, I'm sure eventually CVs and AC compressors need to be addressed, but that stuff doesn't wear on modern cars like it does on old cars. Our '02 9-3 with 150k still had its original CVs, its AC compressor finally died at 135k. It went through head light bulbs annually, but never interior or brake or turn signal bulbs. Obviously nobody knows what a 10 year old or 100k old Fiat 500e will look like, but based on other cars made in the last ten years, I don't expect much. What the 500e is saving is, primarily, tuneup items like spark plugs, air filters, oil changes, etc.
Believe me, I'm a huge fan of old cars and will absolutely defend their ownership. Mine aren't going anywhere. I'm just saying that I fired up Excel and did the math for a wide variety of usage scenarios, and the real, quantifiable costs for the 500e are very, very low. More than running a 15 year old Audi, yes, but not by much. Admittedly, that's almost entirely function of Fiat's aggressive compliance with California law, but I don't care about why it's happening... I'm just saying I will take advantage of it. ;)
posted by 12.195.130...
, Fri, 14 Mar 2014 12:20:20
, Mon, 17 Mar 2014 09:16:08, Mon, 17 Mar 2014 10:46:59, Mon, 17 Mar 2014 12:48:50, Mon, 17 Mar 2014 16:00:48 <-- Viewing This Message
, Tue, 18 Mar 2014 07:35:40, Tue, 18 Mar 2014 10:02:46, Mon, 17 Mar 2014 15:47:02, Fri, 14 Mar 2014 19:50:43
, Wed, 26 Mar 2014 10:27:05
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