Getting into an EV, work out cheaper with PCP?
Discussion
I currently own a 330d, and I roughly put in £300 per month in fuel, and I have a small personal loan which is £100 per month.I find lately we are staying more local due to the fuel cost.
So, I thought about an EV, ID3 or the like, I have found them used for £36,000 or £450 PCP £10k down.
My question is, would the ID3 make sense?
How much would it cost to charge from home? We have a Tesco with charging stations just round the corner, what would the cost of those also be, roughly?
Is all new, and to get into an EV it would need to work out cheaper, and where I can also use the car more, compared to my current 330d.
I hope that this thread makes some sense?
Kind regards
Luke
So, I thought about an EV, ID3 or the like, I have found them used for £36,000 or £450 PCP £10k down.
My question is, would the ID3 make sense?
How much would it cost to charge from home? We have a Tesco with charging stations just round the corner, what would the cost of those also be, roughly?
Is all new, and to get into an EV it would need to work out cheaper, and where I can also use the car more, compared to my current 330d.
I hope that this thread makes some sense?
Kind regards
Luke
£10k down + £450/m PCP is £26k over 3yrs or almost £32k over 4yrs, depending what your terms are. Your current fuel + loan repayment would be £14.4k and £19.2k respectively, minus the value of your 330d at the end of that time.
Even if your electricity was 100% free you're not going to be saving money, unless the ID3 retains strong equity vs the GFV on your PCP agreement.
Does that mean it's a bad purchase? No, but it's not a money saver.
As for Tesco charging, I believe most (all?) sites are free charging for 90mins. Cost to charge is going to depend on your energy provider, solar panels, your miles per kWh based on your usage - For a better idea of precise charging costs there's a thread on here where people are commenting on their setups, vehicles and costs.
Even if your electricity was 100% free you're not going to be saving money, unless the ID3 retains strong equity vs the GFV on your PCP agreement.
Does that mean it's a bad purchase? No, but it's not a money saver.
As for Tesco charging, I believe most (all?) sites are free charging for 90mins. Cost to charge is going to depend on your energy provider, solar panels, your miles per kWh based on your usage - For a better idea of precise charging costs there's a thread on here where people are commenting on their setups, vehicles and costs.
Now PCP is all new, I have always bought my car outright, this time I have a small low rate loan on my current car as stated.
The way you have shown me is interesting!
I was mainly looking at the cost saving/expenditure on a monthly basis, my loan and fuel, compared to PCP and charging, but also having an EV and free charging would work out cheap? And also get to travel further for free if charging at Tesco.
Again, all quite new, so excuse the lack of knowledge and understanding here!
Kind regards
Luke
The way you have shown me is interesting!
I was mainly looking at the cost saving/expenditure on a monthly basis, my loan and fuel, compared to PCP and charging, but also having an EV and free charging would work out cheap? And also get to travel further for free if charging at Tesco.
Again, all quite new, so excuse the lack of knowledge and understanding here!
Kind regards
Luke
What's your current mileage? at £300/month in a 330d I'm assuming that you're doing close to 25k miles per year.
I just quickly used the charging cost calculator on zap-map's website, which suggested with a 7kw charger you're looking at 6.5hrs and £13 in electricity to charge to full and an estimated 175mile range from that charge, working out at 7.2 pence per mile. If you did all of your charging at home, with the tariff assumed on there then 25k miles/year would be £1800/yr on charging, or £150/month.
Effectively it looks like you'd be cutting your fuel cost in half but increasing your monthly car payment from £100/month to £450 - That's without even considering the £10k deposit.
You are not going to save money by swapping in your 330d for an ID3. But if you're looking for a brand new car anyway then the ID3 might not be a bad choice for you.
I just quickly used the charging cost calculator on zap-map's website, which suggested with a 7kw charger you're looking at 6.5hrs and £13 in electricity to charge to full and an estimated 175mile range from that charge, working out at 7.2 pence per mile. If you did all of your charging at home, with the tariff assumed on there then 25k miles/year would be £1800/yr on charging, or £150/month.
Effectively it looks like you'd be cutting your fuel cost in half but increasing your monthly car payment from £100/month to £450 - That's without even considering the £10k deposit.
You are not going to save money by swapping in your 330d for an ID3. But if you're looking for a brand new car anyway then the ID3 might not be a bad choice for you.
J1990 said:
What's your current mileage? at £300/month in a 330d I'm assuming that you're doing close to 25k miles per year.
I just quickly used the charging cost calculator on zap-map's website, which suggested with a 7kw charger you're looking at 6.5hrs and £13 in electricity to charge to full and an estimated 175mile range from that charge, working out at 7.2 pence per mile. If you did all of your charging at home, with the tariff assumed on there then 25k miles/year would be £1800/yr on charging, or £150/month.
Effectively it looks like you'd be cutting your fuel cost in half but increasing your monthly car payment from £100/month to £450 - That's without even considering the £10k deposit.
You are not going to save money by swapping in your 330d for an ID3. But if you're looking for a brand new car anyway then the ID3 might not be a bad choice for you.
Most of my driving is town and the quick A road trip. I find I am putting in £40 per week commuting to work and £20 at a weekend, and that’s with me limiting my mileage due to fuel costing lately, again all estimated with the trip up north added in too here and there.I just quickly used the charging cost calculator on zap-map's website, which suggested with a 7kw charger you're looking at 6.5hrs and £13 in electricity to charge to full and an estimated 175mile range from that charge, working out at 7.2 pence per mile. If you did all of your charging at home, with the tariff assumed on there then 25k miles/year would be £1800/yr on charging, or £150/month.
Effectively it looks like you'd be cutting your fuel cost in half but increasing your monthly car payment from £100/month to £450 - That's without even considering the £10k deposit.
You are not going to save money by swapping in your 330d for an ID3. But if you're looking for a brand new car anyway then the ID3 might not be a bad choice for you.
Free charging is great, £13 175miles seem reasonable? I would guess £20 or so would net 160 miles in my current driving style/routes.
Kind regards
Luke
aestetix1 said:
If you want to save money then look at some of the more affordable EVs. Nissan Leaf, MG range, used Kona or eNiro.
Or a more economical IC car.Depends whether the Op's mileage includes many trips where the range of an IC car is a bonus.
It's quite a lot of miles and isn't going to be the cheapest deal for leasing etc as a result.
If it's mixed mileage, then it might be worth considering a cheap e-chariot for the short trips and keep the Beemer for where it comes into its own?
That works a treat for a friend of mine.
Have you spent time with an ID3? Not to offend owners but compared with how you think of VWs, with an IDx you are taking on the role of development driver. My father's always had some software quirk or other and the daily prayer was that the next software update would fix the excessively loud radio, or the fuel flap that wouldn't open etc etc.
Another thought to leave with you: VW actively phoned him and offered more than he'd paid to buy it back such is their supply chain issues. So look very carefully that the second hand "deal" you're being offered is all that.
EVs, especially those with small ranges, really are currently for pioneers or those who predictably do short journeys and home charging.
No offense intended.
P.S He did sell it back to them, bought a ICE 2-series and his life has become infinitely simpler....
Another thought to leave with you: VW actively phoned him and offered more than he'd paid to buy it back such is their supply chain issues. So look very carefully that the second hand "deal" you're being offered is all that.
EVs, especially those with small ranges, really are currently for pioneers or those who predictably do short journeys and home charging.
No offense intended.
P.S He did sell it back to them, bought a ICE 2-series and his life has become infinitely simpler....
Edited by jrb43 on Thursday 4th August 22:20
A 330d is peak diesel. Enjoy it while it lasts! (Disclaimer: have a 530D and an I3)
Not saying you can't enjoy the ID3 but if it only makes financial sense depending on free public chargers instead of the major convenience of an EV, charging at home while you're asleep, then EV ownership will be a nightmare as the car will no longer be a convenience but you'll be a slave to it.
You could own a secondhand I3 (or Leaf?) for a lot less possibly making more sense on the financial side, but I would never advise it to replace a 330D as it's not designed with the same purpose. The ride isn't as good nor is the motorway comfort, but it's a brilliant bit of kit for more local journeys.
Not saying you can't enjoy the ID3 but if it only makes financial sense depending on free public chargers instead of the major convenience of an EV, charging at home while you're asleep, then EV ownership will be a nightmare as the car will no longer be a convenience but you'll be a slave to it.
You could own a secondhand I3 (or Leaf?) for a lot less possibly making more sense on the financial side, but I would never advise it to replace a 330D as it's not designed with the same purpose. The ride isn't as good nor is the motorway comfort, but it's a brilliant bit of kit for more local journeys.
PLuKE said:
J1990 said:
What's your current mileage? at £300/month in a 330d I'm assuming that you're doing close to 25k miles per year.
I just quickly used the charging cost calculator on zap-map's website, which suggested with a 7kw charger you're looking at 6.5hrs and £13 in electricity to charge to full and an estimated 175mile range from that charge, working out at 7.2 pence per mile. If you did all of your charging at home, with the tariff assumed on there then 25k miles/year would be £1800/yr on charging, or £150/month.
Effectively it looks like you'd be cutting your fuel cost in half but increasing your monthly car payment from £100/month to £450 - That's without even considering the £10k deposit.
You are not going to save money by swapping in your 330d for an ID3. But if you're looking for a brand new car anyway then the ID3 might not be a bad choice for you.
Most of my driving is town and the quick A road trip. I find I am putting in £40 per week commuting to work and £20 at a weekend, and that’s with me limiting my mileage due to fuel costing lately, again all estimated with the trip up north added in too here and there.I just quickly used the charging cost calculator on zap-map's website, which suggested with a 7kw charger you're looking at 6.5hrs and £13 in electricity to charge to full and an estimated 175mile range from that charge, working out at 7.2 pence per mile. If you did all of your charging at home, with the tariff assumed on there then 25k miles/year would be £1800/yr on charging, or £150/month.
Effectively it looks like you'd be cutting your fuel cost in half but increasing your monthly car payment from £100/month to £450 - That's without even considering the £10k deposit.
You are not going to save money by swapping in your 330d for an ID3. But if you're looking for a brand new car anyway then the ID3 might not be a bad choice for you.
Free charging is great, £13 175miles seem reasonable? I would guess £20 or so would net 160 miles in my current driving style/routes.
Kind regards
Luke
J1990 said:
£10k down + £450/m PCP is £26k over 3yrs or almost £32k over 4yrs, depending what your terms are. Your current fuel + loan repayment would be £14.4k and £19.2k respectively, minus the value of your 330d at the end of that time.
Even if your electricity was 100% free you're not going to be saving money, unless the ID3 retains strong equity vs the GFV on your PCP agreement.
Does that mean it's a bad purchase? No, but it's not a money saver.
As for Tesco charging, I believe most (all?) sites are free charging for 90mins. Cost to charge is going to depend on your energy provider, solar panels, your miles per kWh based on your usage - For a better idea of precise charging costs there's a thread on here where people are commenting on their setups, vehicles and costs.
I've been to Tescos in London that offer free Podpoint charging to customers for between 2-3 hours maximum stay. I find most of the time, the charging bays are empty. I find, it's mostly retired people or minicab drivers who are using the bays. Just like with all of these EV incentives, who knows how long Tesco will be keeping "free" charging for customers.Even if your electricity was 100% free you're not going to be saving money, unless the ID3 retains strong equity vs the GFV on your PCP agreement.
Does that mean it's a bad purchase? No, but it's not a money saver.
As for Tesco charging, I believe most (all?) sites are free charging for 90mins. Cost to charge is going to depend on your energy provider, solar panels, your miles per kWh based on your usage - For a better idea of precise charging costs there's a thread on here where people are commenting on their setups, vehicles and costs.
Consider that ID3 has up to 16 months lead time for new factory orders, so I don't know if that has any impact on future value of the ID3 you are considering.
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