Advertisement Banner

Personal Finance 101: I buy EV so that I save money. True?


Personal Finance 101: I buy EV so that I save money. True?

There are so many ways we could save money

If we are spending RM30 per day for meals, we could save RM3,650 (RM10 x 365 days) per year if we reduce this to just RM20 per day. NOT ordering drinks 3 times is already a savings of RM8 from this amount.

If we are spending RM400 for petrol per month, we could take up the My50 offer and enjoy unlimited rides via Rapid KL Rail and bus services. This is a savings of RM350 x 12 = RM4,200.

Meanwhile for those who are used to renting one whole unit for RM2,500 could either rent a room or rent out the empty rooms. Both these measures would save RM1,000 off the bill easily per month. That’s RM12,000 per year in savings!

Just these three would allow savings of close to RM20,000 per year!! Now, this is what I call savings. Then again there are friends who told me that when they buy an Electric Vehicle (EV), they are saving money. Please allow me to smile first. Okay, now we look at the photo below:

Image Source:

Top 10 cars for driving range and their price

The below shows the top 10 cars with the LONGEST driving range in the world. Lucid Air leads with 830km! However, buying one is US$138,000 and if we assume no price change and we just convert directly, that’s RM642,000. I assume one can drive this car for 10 years? That’s RM64,200 per year or around RM5,350 per month. I have no idea if there are anyone who spends over RM5,350 for petrol every month?

Let’s be fair. We take the CHEAPEST EV in the list and that’s Hyundai Ioniq 6 and it has a driving range of 581km. Impressive frankly because it’s 3rd in the top 10 list for driving range and yet it is the cheapest car in the whole list! I am sure there are cheaper EVs being sold here in Malaysia but those have a lower driving range yeah. Ioniq 6 is US$45,000 and that’s around RM209,305. Again, driving this car for 10 years would be RM20,905 per year or RM1,742 per month. Again, I really wonder if there are that many petrol car owners who spend so much on petrol every month.

Image Source:

Buy a cheaper petrol car, that saves a lot more than an EV

Below are the typical prices of cars that would have saved by far more money than buying an EV.

Buying an EV can be a personal choice

Just say I love EV. Just say I love Hyundai Ioniq 6. Just say petrol cars are so out-dated. The first two statements are personal opinions and no one could say you are wrong yeah. Out-dated is debatable BUT saving petrol via an EV is a myth. Stop trying to tell people about this myth and pretending that it is real or that one could drive an EV like for 50 years? By the way, even if you drive that Lucid Air for 50 years, you are still spending RM1,284 per month for the car. WOW… saving money?

Property News Malaysia? Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER). Alternatively, Follow me on Telegram here.

Please LIKE FB page to get daily updates about the property market beyond articles. Else, follow me on Twitter here.

Next suggested article: When rates rise, property transactions drop, right?

**In Article Advertisements Banner

Leave a Reply

Subscribe to Blog via Email

Few seconds to subscribe for FREE and get property investment tips, latest financial and property news and more.

Join 1,940 other subscribers.
Motion arrow towards right
Motion arrow towards right
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.


Advertisement Banner

Facebook Comment

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like

%d bloggers like this: