I did the research. I still missed stuff.
When I bought my first EV, I thought I had it figured out. I'd watched the YouTube videos. Read the forums. Compared the specs. But there were a few things that caught me off guard once I actually owned one.
Here's what I wish someone had told me.
Do the math properly (and be honest about it)
Insurance costs more than you think
At least here in Sweden, EVs are noticeably more expensive to insure. The batteries are costly to repair or replace if something goes wrong, and insurers price that in.
What I did was compare quotes from different insurance providers using the registration numbers of cars I was interested in. Good thing I did, because prices varied a lot. Same car, same specs, same mileage, same model year. Wildly different insurance quotes.
If you can, get insurance quotes before you commit to buying. It might change which specific car you go for.
Charging isn't always cheap
Yes, electricity is cheaper than petrol. But maybe not as cheap as you're hoping.
If you charge at home with a good rate, you're golden. But if you rely on public chargers? Those costs add up fast.
I worked out that my breakeven point compared to my old car was around $0.60 per kWh. Anything above that and the EV wasn't saving me money on fuel at all. Public fast chargers often cost more than that.
The fuel cost calculator can help you figure out your own breakeven point. Plug in your actual numbers before you buy.
Buying used? Check the battery first.
This is a big one. The battery is the most expensive part of an EV. If it's degraded, you're looking at a potentially massive repair bill down the road.
Before buying a used EV:
- Ask for a battery health test. Ideally from an independent source, not just the seller's word.
- Check the car's own diagnostics if it has a detailed battery health report built in.
- Look at the state of health (SOH) percentage. Anything below 80% means reduced range and possibly warranty issues.
- Check the remaining warranty. My Tesla Model Y Long Range came with "8 years or 192,000 km (119,000 miles), whichever comes first, with at least 70% battery capacity retained." That's solid peace of mind. Different manufacturers have different terms, so verify what's left on the car you're looking at.
Some sellers will show you the range the car displays. That's not the same thing. The displayed range can be optimistic. Actual battery capacity is what matters.
Wheels and tyres: the hidden cost
If you're buying used, ask if wheels are included. Both summer and winter sets if you're somewhere with proper seasons.
Why does this matter? EV wheels and tyres are expensive. Here's what caught me off guard:
The price of a new set
If wheels aren't included, budget for it. A full set of winter tyres on appropriate rims can easily cost €1,000-2,000 ($1,100-2,200) or more depending on the car.
Check what you're getting
If wheels are included, don't just take them at face value:
- Check the dimensions. Are they the right size? Some sellers throw in whatever they have lying around.
- Check the condition. Worn tyres, curb rash on the rims. Factor replacement costs into your negotiation.
EVs eat tyres faster
This one surprised me. EVs are heavy because of the battery pack. That extra weight plus the instant torque means tyres wear out faster than on a similar-sized petrol car.
Budget for replacing tyres more often. It's not a dealbreaker, but it's a running cost people forget about.
The bottom line
EVs can absolutely save you money. But the savings depend on your specific situation. Do the math with real numbers, not optimistic ones. And if you're buying used, don't skip the homework on the battery and tyres.
I love my EV. I just wish I'd gone in with more realistic expectations.
Use the ownership calculator to run your own numbers before you commit. Better to know upfront than to be surprised later.