Over the life of the LEAF (assuming 100,0000 mile life) I am on track to save over $10,000 in fuel expenses compared to the Chevy Malibu I had previously which was frugal anyway, I got 25mpg while driving the Malibu. These numbers are based on today’s gas prices of $3.48 and the amount of electricity I have consumed to travel 1,400 miles since I got the LEAF.
If one also figures in the incentives to date which exceed $12,500 the net cost of the vehicle is reduced to $11,000. Not a bad price for a new vehicle 🙂
I compiled a spreadsheet showing how I arrived at these numbers. I will keep it up to date on a monthly basis. The savings I am realizing on fuel match very closely the anticipated savings I calculated prior to deciding to buy the LEAF.
Not figured in yet are expected savings on maintenance. It’s too early to gauge how much I will save. The first two service intervals for the LEAF include a tire rotation at 7,500 miles and the same again at 15,000 together with a few inspections. The 15,000 mile service includes a free battery check/tune-up. There is very little that needs doing to the LEAF!! I purchased an extended warranty good until 100,000 miles which should eliminate expenses due to electronic or mechanical issues. The Malibu cost on average $800 per year to maintain, One would hope to be able to cut this by a third with an EV. That may end up saving me an additional $1,750 over the life of the vehicle. Time will tell how much the scheduled services actually cost.
If the LEAF lives beyond 100,000 miles, which it should, the savings just keep mounting. The LEAF will be about 7 years old when I reach 100,000 miles given my current mileage. It will probably be time to trade anyway, electric vehicles will have advanced significantly by then.
Who said Electric Vehicles are too expensive?
If you are a LEAF owner, feel free to download and use the spreadsheet for your own cost savings tracking. Enter into Orange cells the one-time parameters for the spreadsheet. Enter into the yellow cells the latest information regarding the vehicle mileage and gas costs in your area. Also you’ll need to maintain the log of kWh used on the table to the left of the savings analyses. Send me a comment if you have suggestions for improvement or have questions in customizing to your vehicle.