Electric Vehicle Total Cost Of Ownership Comparison And Calculator
There’s one question that is always brought up when thinking about indulging in the purchase of an electric vehicle: how much will it cost compared to running an ICE car? Thankfully, there’s a tool that will calculate the cost of ownership for both types of car so you can have the peace of mind to make the final decision.
The front page shows an example of how it works, where they compare a Tesla Model S Performance to a Mercedes-Benz S450.
Clicking on ‘Show graph values’, and you’re treated to a breakdown of the numbers:
As you can see from the figures above, compared to the Model S Performance which is the more expensive car by almost $7,000, the Model S still comes out cheaper than the German saloon.
It’s likely the website uses Californian averages for mileage and costs, and largely uses estimates for maintenance and insurance as these costs are liable to drastically change between users. Diving deeper into the calculator, you can change the cars you’re comparing, as well as the mileage. What is missing, however, is the depreciation of both vehicles over the five years it’s measuring over, as this can be a major contributing factor to the potential purchase of a car. Although there’s no realistic way of getting a trustworthy and realistic figure.
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