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:
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.
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?
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