Let’s say you drive 10k miles per year and you’re getting 20mpg that’s 500gal of fuel per year. If gas is $5/ gal that’s $2500 per year. Let’s say I can get a car that gets 40 miles per gallon. Over ten years I’m saving $12k so I’d need to spend less than $12k on a car in order to save money. Idk what the cost of electric is over the cost of gas but I know that I can’t get an electric car for less than $12k that isn’t going to need an expensive battery replacement in the near future.
Spending a lot of money on gas isn’t saving money.
He’d still come out ahead by driving his old car and then electrifying it when he can afford it. It’d beat taking on a new car loan or lease.
Let’s say you drive 10k miles per year and you’re getting 20mpg that’s 500gal of fuel per year. If gas is $5/ gal that’s $2500 per year. Let’s say I can get a car that gets 40 miles per gallon. Over ten years I’m saving $12k so I’d need to spend less than $12k on a car in order to save money. Idk what the cost of electric is over the cost of gas but I know that I can’t get an electric car for less than $12k that isn’t going to need an expensive battery replacement in the near future.