EV versus ICE Cost of Ownership calculator

Discussion in 'Rivian Versus Competitors' started by Nuclearn8, Oct 2, 2019.

  1. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    Does anyone know a good online comparison calculator that lets the user edit the inputs to see where the break-even point is during ownership, if there is one financially?

    I am working on one in excel in my spare time, but if a good one already exists, no point..

    thank you.
     
  2. skyote

    skyote Well-Known Member

    Vehicles:
    Jeeps & 2500HD Duramax
    Joined:
    Mar 13, 2019
    Location:
    TX
    Messages:
    190
    Likes Received:
    131
    Nuclearn8 likes this.
  3. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    So I edited the suggested google sheet and did a quick comparison between a R1T and a Tacoma.... and it's not pretty, even making assumptions in the R1T's favor...

    I need to seriously rethink the practicality of this purchase before committing to my pre-order.

    I'm hoping someone can point out some errors in my comparison.... (jpg attached since excel cannot be attached)

    Comparo.JPG
     
  4. ElectricTrucking

    ElectricTrucking Well-Known Member

    Vehicles:
    Porsche 911
    Joined:
    Dec 23, 2018
    Location:
    Cave Creek AZ
    Messages:
    115
    Likes Received:
    71
    I completely agree with the lack of practicality in the purchase of the Rivian vs the Tacoma. Putting that aside I'm tired of dealing with service departments and gas stations. I'm not interested in saving the world. My time left is limited and I'm not interested in leaving my assets to someone when I still have wants and the R1T is a want just as the 911 that I drive and enjoy every time I get in it. By the way, for many years I serviced all of my vehicles and avoided service shops as much as possible.
     
  5. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    Unfortunately I'm not in a place in life where I can buy simply based on want alone.... oh how I wish!... haha.

    It needs to make financial sense or at least be close enough to justify the additional monthly expense an EV brings with it, given the premium price tag and not being able to afford to pay cash up front. Right now the numbers aren't close enough for me to say with certainty I'll buy one (I could afford it but at the expense of taking less adventurous... which kind of defeats the purpose of buying an adventure vehicle) but it's nice to have a place in line and time to make a decision....
     
  6. EyeOnRivian

    EyeOnRivian Well-Known Member

    Vehicles:
    Mitsubishi Endeavor, pre-ordered R1S but may change to R1T
    Joined:
    Feb 14, 2019
    Location:
    Chicagoland
    Messages:
    206
    Likes Received:
    139
    I haven't done any deep dive into ROI of an EV to an ICE, however, I'm not surprised by those numbers. First, I'm not sure of the validity of that comparison of a start up company with an introductory product to that of an established vehicle from an established company with plenty of competition. If you're looking to save money/expenses with purchasing an EV I believe you're barking up the wrong tree with Rivian at least at this point. Rivian is a start up. Just like with Tesla (and for that matter just about any introductory product by a new company) they needed to raise as much capital as possible starting with the more premium packages and options (e.g. 180 kWh battery pack). You have to expect to pay more. Early adopters are basically investing in the company for the company's future success and rarely are seen as initially as getting a lower cost deal.

    The ROI is typically just too far out for most people. Using your comparison that would be 14 years, possibly longer. That's a long time for things / values to change especially in a tech driven automotive industry. Rivians at this point are a "want" vehicle. If you prefer an EV *and* would like a much earlier ROI when compared to an ICE, I believe you may be better off looking at other EVs ... I've been down a similar thought process on what I would like my first EV to be. For me, it comes down to this: I'm done with the ICE maintenance (both cost, frequency and inconvenience), the environmental impacts of ICE, and the fun and convenience of an EV. Cost is certainly a factor for me but it's not the number one driving factor. I respect one's views and circumstances that goes into purchasing an EV, certainly at this price point, are unique as are mine. Good luck.
     
  7. Cactusone

    Cactusone Member

    First Name:
    Rob
    Vehicles:
    Toyota Tacoma Acura RDX corvette
    Joined:
    Mar 5, 2019
    Location:
    Sonoran desert
    Messages:
    15
    Likes Received:
    8
    #7 Cactusone, Oct 3, 2019
    Last edited: Oct 3, 2019
    Cars are the biggest waste of money there is. Buy a used vehicle that meets your minimum requirements and keep it forever, there’s your roi. If you’re asking about the gas mileage on a Ferrari, maybe it’s not for you. This is cutting edge tech people, you’re gonna pay...a lot. Putting a $3000 solar panel on the tonneau cover to save money on charging is not gonna do it. Lol. Desires meet bank account, battle royale
     
    skyote, Nuclearn8 and EyeOnRivian like this.
  8. JeffOutWest

    JeffOutWest Active Member

    First Name:
    Jeff
    Vehicles:
    Tacoma, Wrangler
    Joined:
    Apr 29, 2019
    Location:
    Northern California
    Messages:
    25
    Likes Received:
    11
    Those numbers actually aren't as bad as I was expecting lol... I guess I'll run some numbers of my own, but they should come out close to yours. Also I think insurance will probably be much more expensive on the Rivian.. and you could buy a used Tacoma to make the comparison even worse.... I'm against a rock and a hard place because I want the Rivian really bad, but 80k is crazy for me.
     
    Nuclearn8 likes this.
  9. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    I can send you the file I used if want... the forum just doesn't let excel files be shared or attached
     
  10. ElectricTrucking

    ElectricTrucking Well-Known Member

    Vehicles:
    Porsche 911
    Joined:
    Dec 23, 2018
    Location:
    Cave Creek AZ
    Messages:
    115
    Likes Received:
    71
    My wants would fit in a 10 car garage but that isn't going to happen. I'm determined to go electric in my next vehicle.
     
  11. godfodder0901

    godfodder0901 Well-Known Member

    First Name:
    Jared
    Vehicles:
    Honda Civic
    Joined:
    Mar 12, 2019
    Location:
    Washington
    Messages:
    52
    Likes Received:
    56
    You didn't add in any maintenance costs for the ICE.... How come?
     
  12. jimcgov3

    jimcgov3 Well-Known Member

    First Name:
    Jimmy
    Vehicles:
    2016 Chevy Spark EV, Rivian R1T Reservation Holder
    Joined:
    Apr 20, 2019
    Location:
    Jacksonville, Florida
    Messages:
    183
    Likes Received:
    152
    In my case, I am coming from a 2017 Nissan Titan Pro-4X completely optioned out that I sold back in May for downpayment money. IF for whatever reason, I decide(which won't happen) to not get the Rivian and go back to say the 2020 Nissan Titan Pro-4X, I would already be ahead after just 5 years in the Rivian based off gas alone. @Nuclearn8, do you actually consider going with a Tacoma vs a Rivian if you decide not to get a Rivian? Just curious. While the trucks might be similar in size, they are very much apples and oranges when you start diving into what makes the Rivian stand out...and I am not saying that the Titan is close at all either...That is just my fallback if I were to actually have one.
     
    Estolworthy likes this.
  13. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    The ICE I'm considering is a Tacoma which has a proven track record of being rock solid reliable. It would only require oil changes above and beyond what a Rivian would also need too (like tires, brakes etc...).... I considered that a wash since the Rivian will likely need some sort of subscription service fee for something to connect to the cloud or or something like that, we don't know what we don't know...
     
  14. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    I'm in the market for a midsize pickup truck and the top of that list for me is the R1T and Tacoma... not really interested in any other, perhaps the Gladiator, due to resale alone (would sell or trade it after the factory warranty expires because I will never again be stuck with a jeep post warranty). the R1T is actually less convenient for me to own in terms of refueling when on road trips, which sucks since it's designed for adventuring and being on road trips....
     
  15. jimcgov3

    jimcgov3 Well-Known Member

    First Name:
    Jimmy
    Vehicles:
    2016 Chevy Spark EV, Rivian R1T Reservation Holder
    Joined:
    Apr 20, 2019
    Location:
    Jacksonville, Florida
    Messages:
    183
    Likes Received:
    152
    Unless you are extremely heavy on the brakes, you'll never need to replace them as the regenerative braking will do most of not all the work in stopping the truck. True on not knowing what we don't know in the subscription service but I feel like Rivian had to get really close to what Tesla offers to make it comparable enough of an offering.

    Not sure where in Texas you are at so take this for what it is. Please check out A Better Route Planner. They have the R1T & R1S in all battery configurations in order to see where you can go and how long it will take you. Unless you live near Fort Stockton or Wichita Falls, I think you'll be surprised.
     
  16. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    interesting item to ponder... if you plan on driving 12,500 miles a year.... one could plant approximately 14 trees and the net impact on the environment from an CO2 emission standpoint would be zero.
    If you plant 14/15 tress a year, technically you're doing more for the "climate crisis" than buying a Rivian alone... $1 plants 1 tree... https://www.nationalforests.org/get-involved/tree-planting-programs so you can still feel good about yourself from a sustainability standpoint, if you decide to go the ICE vehicle route.
     
  17. jimcgov3

    jimcgov3 Well-Known Member

    First Name:
    Jimmy
    Vehicles:
    2016 Chevy Spark EV, Rivian R1T Reservation Holder
    Joined:
    Apr 20, 2019
    Location:
    Jacksonville, Florida
    Messages:
    183
    Likes Received:
    152
    Not the response I was expecting to my reply, but cool...
     
    Godawgs likes this.
  18. JeffOutWest

    JeffOutWest Active Member

    First Name:
    Jeff
    Vehicles:
    Tacoma, Wrangler
    Joined:
    Apr 29, 2019
    Location:
    Northern California
    Messages:
    25
    Likes Received:
    11
    Yeah I calculated how to offset CO2 if that is the goal a while back, and it is trivially easy/cheap, from a quick back of the envelop calculation.. whether that is valid or not, I'm not sure.

    Nate was nice enough to send me his calculator.. my takeaway so far is that I'm actually surprised at how small the difference is, but a big unknown is resale value.

    I'm going to have to sit and think about it some weekend once the reviews for Rivian are out, I suspect it will be a hard decision.
     
  19. Nuclearn8

    Nuclearn8 Member

    First Name:
    Nate
    Vehicles:
    '17 GX460, '05 Corolla
    Joined:
    Oct 1, 2019
    Location:
    Texas
    Messages:
    20
    Likes Received:
    6
    rough calc

    CO2.JPG
     
  20. JeffOutWest

    JeffOutWest Active Member

    First Name:
    Jeff
    Vehicles:
    Tacoma, Wrangler
    Joined:
    Apr 29, 2019
    Location:
    Northern California
    Messages:
    25
    Likes Received:
    11
    And trees, at least by some metrics, are very cheap to plant.
     

Share This Page