The hidden costs of owning electric cars
The hidden costs of owning electric cars
EV owners love their cars. But an 8 News Now Investigators’ examination of insurance costs and other money associated with ownership of electric vehicles shows the bottom line might be a lot higher than consumers realize.
wtf is Biden Administration’s problem
LOL, almost every manufacture has an electric car now, yet this article is specifically ONLY about Tesla brand. California still salty about Elon fleeing to Texas for more eco business friendly conditions? 😂
Electric cars..are NOT the future
This makes no sense. I have a 500 hp. Alfa Romeo Giulia quad. I also have a 10-year-old Volvo XC, 90 and a new Honda pilot. Five grand a year total. For stellar insurance with an umbrella policy.
What kind of FUD video is this. Comparing a Model X insurance to a Ford Escape?!?! lol gtfo
Fake news!!!!!! My wife drives a Model X, my 16 year old drives a model 3 , and I drive a Taycan GTS and ride a Harley Davidson Nightster Special and it cost $7900 a year with State Farm for all 4.
sorry, this is a pure manipulation. compare Model X with camry?
I don’t care for EV’s, but this is obviously a hit piece on Elon Musk, otherwise the media wouldn’t be able to criticize EV’s.
I pay less to insure my 2023 Tesla model y than my 2014 Mazda. This reporting is a joke.
Also, the Biden administration wanted to make it easy to qualify for the tax credit! It was Congress that made it difficult!
I hates Teslas❤
hertz dont want any 😂🤣😅🤣
You are comparing the most expensive Tesla to the Toyota Camry and Nissan Altima? Seriously?
its 100% repairs. bc tesla hate its customers and near any dent is a totaled car in insurance lmao
Comparing an Escape to an X model? What’s the original cost of each?
There are people who are very loud in their opposition to EVs. That doesn’t make them right or wrong.
BTW, another savings in EVs is regenerative braking greatly increases the life of brake components. If the USPS switches to EVs and they use one pedal driving, (when you take your foot off the accelerator, the vehicle stops because the EV goes into maximum regenerative braking) they could go much farther on brakes then ever before.
As for the costs of batteries, it’s only a matter of time before aftermarket parts makers either repair or make competing battery boxes and components and the original manufacturers will either lower their prices or lose sales.
Those insurance numbers are way too high. Must have maxed out all of the numbers for the estimate
Conveniently overlooked the extraordinary fires that cannot even be put out with one fire truck by these electric vehicles that’s why more expensive to insure and a lot of auto repair body shops won’t let them stay there
Electricity is not juice like a liquid its electrons which is a form of energy like light particles.
They are comparing a Ford escape that goes for $37,000 with a model X that goes for $79,990 and the model X cost 16% more in insurance. Wow. The model X seems to be the better deal here.
For the record, the new Tesla cyber truck fender cost $500. Assuming you’re able to damage it. You literally bolt it on, there is no paint, no preparation, no nothing. I’m actually trying to bend my brain to figure out why that pick up truck whatever go to a "body" shop
What bs 😂, my cost only 1600$ a year 2023
I don’t see how you compare the cost of fixing a model X with that of your dads old car , insurance for any new car is always more then and old car & old cars have used parts you can get to fix them ( nit enough used electric parts around as , as they are new
, my insurance is the same on my electric car as it would be for any ICE vehicle of same price , as for minor dents in bumpers , Tesla’s of 2023 no longer have sensors or radar in bumpers( so much for Tesla costly sensor repairs ) and most new ICE cars over $60000 have auto Cruz’ and sensors and cameras , not just electric cars . If your going to do a story about hidden cost of cars use similar priced & options of ICE vehicles to EVs
It’s cause repair bills are outrageously expensive
Why don’t the media ever mention the massive cobalt mines that essentially rely on slave labor to make batteries for these cars(and indeed much of our modern rechargeable electronic devices)?
We have had no issues on both of ours. Our insurance is the same as any car at the price. People that trash on teslas usually don’t have one. They are the safest car you can drive. The insurance guy would put his son in a old car? Old cars are not as safe in a crash so not sure why anyone would do that.
Scamsurance
Yall know yall teslas have to be oil changed right 😂 that’s why yall seeing so many teslas breaking down or stop working yall thinking bitch running on air 😂 all them gears need oil
Misleading. there is a 20K difference in value between Tesla and ford listed. Yes buying a 50-70K tesla will cost more in insurance than a 30K (other) and a 120K BMW will cost more to insure than an 80K telsa. duh. These aren’t hidden costs of owning an EV. They are perfectly expected costs of buying a 70K car
This reporting is trash people that buy Tesla vehicles can afford the insurance also whats the insurance of Ford’s expensive trucks.😢
How about the hidden cost of owning an ICE vehicle ? Lets start with something nobody talks about. A trip to a gas station. Cost, time, tire/engine wear on those trips. Some says , oh I don’t go out of my way, just pull up to the one on the side of the road. Well, then most time you pay extra compare to the cheapest stations. Then the trips to oil change/filter change places. Cost of fuel and time. Some say – oh I change it myself. Ok, you still spend time and money and most times you make a trip to a store. The fuel filter replacement is often neglected which leads to injector and engine failure. Most of the 2011 and newer Turbo vehicles have a hard time going for more then 125k miles without major repair. Transmission fluid is also not recommended to be changed, but transmissions do fail at 150k miles. So yes, you do pay slightly more for insurance (about 15-20%) on insurance, but the time and money NOT spent on maintenance is easily offset that cost. The only maintenance I do on my EV is to change a cabin filter at every 25k miles or 2 years. I order online and cost me 22.99 incl. delivery. Done. Nothing else. Has not visited a public charger in 30 months of ownership and 31k miles. Not once. I charge at night while I sleep. I still use L1 charger as I never needed anything faster. I do have a L2 charger in my garage, never ever used it. I drive 50-70 miles daily with a few 100-125 miles drives. I have not visited a gas station in 30 months and never spent a single minute with "waiting to be recharged". When I pull onto the drive-way I connect the charger and when I leave It is almost always fully charged. The car that I bought used, (was 4 years old with 33k miles) now has 64k miles and 7 years old (2017). The battery capacity is at around 96% of the new battery. (95.6%). Show me a car that has not lost 4% of HP after 64k miles 🙂 I expect the battery to last around 200k miles when it will need a replacement. I saw a few companies doing rebuilds. (simple process since all batteries are built from cells.) a rebuilt unit is around 4500usd at the moment plus $800-$900 install and come with 1year 12k miles warranty. Check how much is a rebuilt engine and replacement ? No, not a junk yard motor, a rebuilt engine for a 2011+ model car. Yes, same or more. The junk yard batteries are 1500-3800 usd depending on mileage. I found one with 18k miles for $2800. Add a $1000 for labor, still under 4 grand ! Same as a used engine or transmission installed. No hidden costs or no extreme expenses with EV’s anymore. The more they build, the cheaper the prices will become. My EV is a relatively old and outdated and rare model BMW i3. Tesla sells 22 times as many cars as BMW sold of the i3 at its best time ! An another thing I want to mention – stop asking range on an EV. Nobody ask a range on a ICE car ! Compare them just like gas/ice cars. Our i3 gets 4.5-4.8 miles/kw. Winter time 4.4-4.6 miles/kw. (Yes, ice cars burns more fuel in winter too and yes, ev’s ran through the juice quicker.) There are methods that could reduce the cold winter extra load, by preconditioning the battery. Simple and elegant solution, your car is warm and ready to roll in a morning. So next time you see an EV, and want to see how it works, ask what is the miles/kw and you will get a better picture. Our car has a 33kw battery so on average we can go 4.5-4.6×33 = 148-150 miles. But we do not want to run to zero, so real world mileage is around 125-130. If you get a newer EV, the battery capacity will be bigger. Tesla 3 has a 57 or 82 kw battery depending on build, but they do not get that good of a miles/kw. They average around 4 miles / kw. So their range is around 228 / 328 miles ! Plenty enough for 95% of the population ! With one charge per day (40 minutes) you can go 450 / 600 miles. Most people (95%) never does more then 450-600 miles a day !!! In fact the average US driver drives 40 miles per day. (Hence the reason the Chevy Volt had a range of 41 miles) SO before you jump on a bandwagon and believe the oil company sponsored social media ads, give it a try. Most rent-a-car companies rent EV’s. Rent them for a weekend or 3 days and take a trip , go to a store, visit friends, etc. Try and live with them for a few days. I guarantee you will be a changed person. I jumped on it and bought one without ever testing one. After 3 days I was hooked. Never ever looked at ice cars the same as before. Sure some has a merit to exist, but lets face it most people buy boring cars to commute. Camry, Accord, Optima, Civic, Altima, etc. How many people buy exciting cars to commute ? Alfa Romeo, BMW Z4, Supra, 400Z, etc. These cars are typically used on a weekends and 2nd or 3rd cars. The new EV’s from Hyundai and Kia are excellent cars. Audi, BMW, Mercedes all have a strong line of EV’s. Chevy and Ford too, but their cars aren’t that good. Chrysler is lacking on EV’s and hence the reason they are having a hard time at the moment. Tesla , while the propaganda works against them , are excellent vehicles. Sure some fitments are not top notch, some have quality issues, but none are really bad. Also Tesla stands behind their cars and fixes all issues. They are really the leader in EV revolution. Look out for BYD in a next few years. The world largest EV maker and a really cool cars.
My great GrandPa’ saw the car evolution at the turn of the 20th century. He told me when he saw the 1st car, he was flabbergasted. Who would buy this machine ? Where would you get the gasoline for it ? How would it drive in a winter freeze ? How long before the gasoline runs out and you are stuck on a road ? When my horse gets hungry, I just stop and let him eat the grass on the side of the road. Who will fix those cars ? There is a vet in every town and city. Everybody has one, they are common animals and simple to feed them and shoe them. I can get a full set of shoes on them quickly and cheap. Them cars needs fancy round rubber rolls. Where do you get those ? What do you do when that highly combustible gasoline gets on fire ? You just watch your automobile burn. Don’t tell me its safe to sit on a tank full of gasoline and have a spark plug throwing sparks around it ! That will kill thousands one day. Also my horse can ride for 15 years and them cars will break down after 2-3 years. Then it will be so expensive to fix them. I can just get an another horse and sell mine to the butcher for a few dollar, he makes a great sausage out of them. Nah, them cars will never take the place of a horse….
He said these in 1904 when he first saw them. Sounds familiar ? We are in 2024, so 120 years later. Some argues the same way he did. He was wrong. He later admitted it. Do you want to be wrong or right ?
The future is already here and its EV’s for the every day. Its your choice
The real pain of Tesla and repair is waiting for parts. My Model Y got a accident, hit a deer, entire from left side is ruined, not totaled though. It has been almost 2 month and I am still waiting for the parts to arrive. There is only handful of "Tesla Authorized" body shops can get parts, Tesla seems too busy making new cars and making parts for repair is low on their priority. And I live in Fremont CA, 5 miles away from Tesla factory. Insurance premium is reasonable IMO, not more expensive then the other car I own. Overall I like my Tesla, not because of cost saving / eco friendly (its not, BTW). I like it purely because of the superior driver assist features "Auto Pilot", it really takes away 90% of my stress during rush hour commute.
base on your report, I think the problem is the insurance company, not Tesla.
This is just an EV hit piece. Zero integrity.
2025 all the tax incentives go away that means everything goes up.
EV is shit !! Once the warranty runs out and the batteries go bad you have nothing left worth any money. A gas car taken care of properly can last 25 years No EV car will ever be half that
$7417 a year for car insurance? check your math. does the reporter own a car? live in the US? who are they insuring? an escaped convict with 3 DUIs?
Insurance agencies are robbing the public
As for Moe, he can clearly afford his Tesla has plenty of money saved up for any damages. For most average Americans, that’s not the case too expensive for repairs
Its great until it breaks. You’re not getting out of an EV repair shop for less than 4 to 5k.
The Insurance companies are not making good money or profit anymore.
Do insurance companies give any kick back or reduce the premium to those people who had never made a single claim 😂?
there is a oil change and filter. weak a links and suspension. whoops he will be in for a shock.
this is incorrect I pay 171 a moth for my 2023 model y performance
Insurance huh? That’s the best you can come up with? Another media hit job (IMHO)
BTW, Tesla sells their own insurance based on your own driving as sensed by your Tesla in real time. Oh and Tesla won’t buy a second of advertising, which cuts the media’s craw!😅
What about nontesla cars?
And who has ever replaced a drive battery?
They should have just stuck with the HYBRID cars.
NO ONE WANT A FULL ELECTRIC CAR.
Lol the guy said no parts in the car you gotta worry about….
EXCEPT…
THE WHOLE CAR IS MORE EXPENSIVE TO MAINTAIN AND REPAIR THAN A CAR THAT RUNS ON GAS.
think about that for a min….
Terrible comparisons
What a crock of shit 😄
I’ve had mine for over 5 years and I’ve saved tens of thousands of dollars. It’s not rare. Stop spreading BS info.
Called my insurance for EV Lucid it will cause 1700 for 6months that is so expensive.
THERES NO CAR REPAIRS UNTIL YOU HAVE…TO…REPAIR…YOUR…CAR…😂😂😂
No maintenance, etcetera, but one number one batteries when goes up in flames. What would you do.