For a Hyundai Ioniq 1st gen in Canada, insurance is less than $2000 CAD. I don’t have to look it up. I’ve been paying between $1000 and $2000 CAD forever no matter what car I’ve had. I buy an EV i can afford, not the year’s model with more bells and whistles than i care to know about. And I don’t buy gasoline, which save me another $1000 or more.
depreciation? did you know that EV’s have a high depreciation, so if budget is a concern, you should be looking at second hand cars instead of of new ones? look it up!
Unfortunately that also tells you that in 4 years when you should sell it (before the 8 year powertrain and battery warranty is over), it will have depreciated a ton more.
I suspect the depreciation rate drops off when that warranty is over, so if you’re not afraid of the battery going, just get one that’s already out of warranty anyway
Hyundai Kona 2021 136 ps, 18900€ and insurance costs around a thousand euros, don’t even know what my electricity bill would look like, if you don’t think that’s a bit expensive then i envy your income.
My main point will always be that the insurance is too expensive.
For a Hyundai Ioniq 1st gen in Canada, insurance is less than $2000 CAD. I don’t have to look it up. I’ve been paying between $1000 and $2000 CAD forever no matter what car I’ve had. I buy an EV i can afford, not the year’s model with more bells and whistles than i care to know about. And I don’t buy gasoline, which save me another $1000 or more.
No one steals EVs. Try insuring a Lexus SUV -2X everything else.
And did you factor in the cost of electricity?
depreciation? did you know that EV’s have a high depreciation, so if budget is a concern, you should be looking at second hand cars instead of of new ones? look it up!
Ioniq 5 in Canada: $68K. 3 years later, $28K. EVs are cheap used.
Unfortunately that also tells you that in 4 years when you should sell it (before the 8 year powertrain and battery warranty is over), it will have depreciated a ton more.
I suspect the depreciation rate drops off when that warranty is over, so if you’re not afraid of the battery going, just get one that’s already out of warranty anyway
Oh my god!
Hyundai Kona 2021 136 ps, 18900€ and insurance costs around a thousand euros, don’t even know what my electricity bill would look like, if you don’t think that’s a bit expensive then i envy your income.
My main point will always be that the insurance is too expensive.