alt Hacker NewsI think the real way I've lost money is on depreciation - that's more severe than anything else that happened - even though I always buy second hand.
If you're buying second hand, like it would appear from the price you quoted, then reliability could be the thing that makes the price worthwhile.
I also don't do high mileage but as our petrol car gets older, it's starting to be less reliable. I've had brake issues - EV regenerative braking should ease that problem - and the engine is starting to use more oil. My car has a reputation for gearbox issues from the Uber drivers that I know.
Every time there is some problem my wife gets more freaked out. To avoid total disaster I'm going to have to get something and if it's an EV I just hope that it will give us some years of plain sailing.
I bought my car 4 years ago with 12 months MOT. It’s just passed again, with two new tyres and some suspension work. And a new bulb. It’s only needed tyres, wipers, and a new wing mirror in previous years.
Not bad for £1200.
The killer cost is the massive VED, way more than petrol Tax. I’d far rather VED were removed and the revenue reclaimed by taxing per mile. Seems crazy to have high fixed costs and low marginal, that just encourages driving.
VED is coming in on electric cars, and so is per mile charging. Meanwhile politics won’t allow fuel to return to 2012 levels in real terms let alone expanding beyond.
Far better ways to invest cash - home battery for example - than in an electric car. Maybe in 5 years there will be reasonable specced second hand ones.