Ignore the hype and buy the most boring, proven EV you can find. A car like the Chevrolet Bolt is a perfect example. It's been on the US market for years, the technology is solid, and you're not acting as a beta tester for some brand-new, unproven system. Beware that EV tires wear out a lot faster than on gas cars because of the heavy battery and the instant torque from the motor, so you should budget for a new set of tires sooner than you'd normally expect. For all those normal car repairs, a common model like a Bolt means more independent shops can actually get the parts and fix it without a huge hassle. Legacy brands like Ford or Chevy have a huge advantage right now. When one of our Ford Mustang Mach-Es needed a new charge port door after a mishap, our local body shop had the part and fixed it in two days. That huge, existing network of independent shops all over the country who can get parts and do the work creates competition, which keeps the price and the wait times for common, non-battery repairs reasonable. An EV has far fewer moving parts, which means no oil changes, no spark plugs, no fan belts, and no transmission service. For our fleet, we've calculated that we save about $1,200 to $1,500 a year for each EV we have on the road, just from fuel and avoided maintenance. Bank those savings mentally. That money you're not spending on gas and oil changes every year should be your fund for eventual repairs, like new tires or a brake job down the line. It completely changes the financial equation of a repair when you realize how much you've already saved.
In terms of reliability, our experience with EVs shows that, at more affordable price points, Toyota and Chevrolet have generally performed well. For instance, the Chevrolet Bolt EV is a budget-friendly choice, boasting both a low purchase price and fewer repairs. It has a more basic design and does not leverage high-cost features like Tesla's advanced autopilot or battery systems, so it is easier to maintain. Cost-conscious buyers can't generally afford to make choices they regret, and Toyota's Prius Prime ticks off boxes on both sides of the equation. If you are looking for smarter buys, consider EVs with a long history of reliability. Tesla still reigns supreme here and with great efficiency, while the Model 3 is solid in terms of price/performance tradeoff. However, lately, it has been the Nissan Leaf and Hyundai Kona Electric that are supplanting other top picks due to their higher affordability and lower repair costs. The models come with less fancy tech and include fewer high-tech systems compared to their more expensive cousins, so they have a lower probability of suffering from an expensive breakdown. Even though EVs have fewer moving parts compared to traditional combustion engines, there are still similar repairs that most people will need to consider. One of the biggest costs for an EV owner is replacing the battery, although most EVs have warranties covering batteries generally from 8-10 years. More frequent tire replacements and other brake pad replacements are also necessary, as their regenerative braking systems provide track-specific performance over traditional braking. Charging port problems, as well as intermittent software updates, are also concerns with models heavily reliant on technology like Tesla's. From repair costs, the Chevy Bolt has been reported to be close to $300-$400 a year on average, for occasional maintenance and repairs. By contrast, a Tesla Model 3 could cost just $400-$600 a year. However, these costs are usually significantly less expensive compared to gas-powered vehicles over time, especially with the cost of lower engine maintenance. Repairs of high-end EVs would be costlier and may run into thousands, as these vehicles will contain complex technologies, such as the Audi e-Tron. At LAXcar, we know firsthand that EVs can save money in the long run as well as be dependable to own and operate, given that they are used for the right applications.
My professional background often involves evaluating the long term cost and performance of various power systems, including electric vehicles. The EV market is currently booming, with the discussion of range and charging speed being the most common ones, yet the financial situation of the consumers is much more complicated than it seems. When it comes to consumers who want to have an affordable EV that does not break down as often and is not as expensive to fix, the smarter decision will be to go with brands and models that have been in the market a few years at least, with a more simple design, and a large availability of parts and trained technicians. This is a clear reflection of a direct opposite of the urge to buy the latest and the technologically superior models. Bolt is a smarter choice in buying cars; it is smarter than Chevrolet Bolt and certain generations of the Nissan Leaf. These automobiles are long-established cars, maybe five to eight years, so the technology is seasoned, frequent problems have been ironed out and an extensive aftermarket has emerged. As an example, one of the most frequent repairs of an EV is a battery coolant leak. A new coolant pump may cost between 300 and 500 dollars in a first generation EV, but it may cost up to 1,500 and 2,000 dollars in a highly complex and new model. The established models also have an advantage of a larger volume of qualified technicians. A dealership/independent shop that has a technician who has done 100 or more hours on a certain model is much more apt to diagnose and correct an issue efficiently than a shop that is seeing a new model to the brand. This reduces labor cost and misdiagnosis. Shoppers who want to buy an EV are encouraged to consider a model that has a reputation of being reliable and one that has a simple powertrain. A complex, high performance cooling system or an integrated battery pack that involves specialized tools to do every repair will practically guarantee an increased repair cost even on routine problems. Remaining with models that have been proven and are simpler, offers a vastly more predictable and cost effective ownership experience in the long term.