My FIT EV: 6 years and 120,000 Miles later

The Battery Performance

One of the most important features of an electric car is its battery and it’s degradation.

  • charged vehicle to 100% twice; once overnight, other time during the day at work
  • about 2% of the time, I drove the vehicle beyond 0% charge, when it reduced the power etc. but still let me go on for another 5–6 miles.
  • about 50% of the time, draining the vehicle below 40% battery level.
  • never fast charged (car doesn’t’ have that feature)

The $$ Math:

This car I got from Honda through a special leasing program that they had running, which gave me the lease for $259 a month for unlimited miles and including free maintenance and insurance.
Later, after 3 years, they reduced the rate to $199 per month.
So, altogether:

  • Maryland rebate: -$1,000. 00
  • Lease (first 3 years): $259 * 36 = $9,324.00
  • Lease (year 3–4) : $199 * 36 = $7,164.00
  • Maintenance: $0

Gas Savings:

If instead of leasing this car and then driving 120,000 miles, I would have gone to own same car but non EV variant (2013 ICE Honda Fit), then:
Total Gas required to drive 120,000 miles: 120,000/31 = 3,871 Gallon of gas.
Assuming an average of $3.5/gallon over last 6 years, this means
3871 * 3.5=$13,548 of gas put in to drive that 120,000 miles.

Electricity consumed

This car’s EPA rating is 82 mpge, which means once fully charged , the car can drive 82 miles.
So, for 120K miles, Ineeded to charge the car = 120000/84 = 1463 times.
Each time, since the car has a battery pack of 20 kwh, it would cost me : 20* 10 cents ( in reality my electricity rate is about 6 cents/kwh since I have a pilot program rate from Pepco) : $2.00
So, for 1463 times, It probably costed me : 1429 * 2 =$2,926 to drive that car 120,000 miles.

Saving Gas vs Electric

So overall saving for driving the electric car vs a similar gas car was: $13,548 — $2,926 = $10,622

Maintenance & Insurance Cost

Let us just stick to the very basic cost for a gas car to be as generous as possible for them

  • Tire change (once at 60,000 miles): $500
  • Brake pads etc. change $500
  • Fluid change (transmission oil etc., engine flush etc.) : $500
  • Minimum Insurance $500/year = $6000

Conclusion

So in summary, I spent $17,688 to own the car for 6 years and it resulted in $18,722 of gas & related savings.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store