I did some calculations for Australia recently - the average driver here pays about $125 in petrol every week, whereas an EV on a 5 year loan would only cost about $105 ($95 loan repayment and $10 electricity expenses).
So even with an existing car before even considering any trade in value you can save money getting an EV.
Input cost for current paid off 10 year old car of $0 and it takes a long time to pay off.
But assume I’m comparing two new cars, absolutely cheaper to go even PHEV.
I did some calculations for Australia recently - the average driver here pays about $125 in petrol every week, whereas an EV on a 5 year loan would only cost about $105 ($95 loan repayment and $10 electricity expenses).
So even with an existing car before even considering any trade in value you can save money getting an EV.