DaveMiller
Posts: 58
Joined: Thu Sep 12, 2013 4:16 am
Location: Normal IL

Re: New owner in West Michigan!

Thu Oct 08, 2015 4:48 pm

Did you get the car home? What are your first impressions?

Just curious,
Dave

DutchBrad
Posts: 8
Joined: Tue Sep 29, 2015 2:35 pm
Location: Holland, MI USA

Re: New owner in West Michigan!

Sun Oct 18, 2015 5:20 pm

I trailered the car home two weeks ago. Been driving it every day since. I love it! Still learning how everything works, but very happy. My employer has charging stations, so I am driving for the cost of insurance and plates. LIKE that. It is a torquey motor. Fun to drive.
DutchBrad
Labrador Black Pearl SE Premium

Aerowhatt
Gold Member
Posts: 446
Joined: Wed Jan 28, 2015 1:52 pm

Re: New owner in West Michigan!

Sat Oct 24, 2015 11:30 am

DutchBrad wrote:I trailered the car home two weeks ago. Been driving it every day since. I love it! Still learning how everything works, but very happy. My employer has charging stations, so I am driving for the cost of insurance and plates. LIKE that. It is a torquey motor. Fun to drive.


Congratulations!! The 'i' is my favorite car that I have ever owned or driven. I've driven a bunch of different vehicles in my 40 year driving history. Ironically, it promises to cost the least of any of them while I have it!

Aerowhatt
(July) 2014 cool silver ES, acquired new 4/2015 (40.9ah at ~34K miles)
(Aug) 2014 Labrador Black Pearl ES, acquired new 3/2016 (39.7ah at ~20k miles)

Don
Site Moderator
Posts: 2987
Joined: Thu May 10, 2012 3:55 pm
Location: Biloxi MS

Re: New owner in West Michigan!

Sat Oct 24, 2015 11:52 am

Aerowhatt wrote:
DutchBrad wrote:I trailered the car home two weeks ago. Been driving it every day since. I love it! Still learning how everything works, but very happy. My employer has charging stations, so I am driving for the cost of insurance and plates. LIKE that. It is a torquey motor. Fun to drive.


Congratulations!! The 'i' is my favorite car that I have ever owned or driven. I've driven a bunch of different vehicles in my 40 year driving history. Ironically, it promises to cost the least of any of them while I have it!
It's among my very favorite cars too and that goes back more than 40 years

As to cost . . . . I'm not so sure. We bought our first iMiEV in May of 2012 for $30K less the $6K we got in Federal credits, so call it $24K. Two years later it was only worth about 1/3rd of what we paid for it - We took advantage of the HUGE depreciation on these cars and bought a 3,900 mile SE Premium about 6 months ago for $8,700. I'm not sure even that one will turn out to be a financial win once we have 100K on it and look back. Replacing a battery pack after the warranty expires would amount to a higher cost than buying 100K worth of $2 gasoline for a compact 35 or 40 mpg car. The resale value on a 10 year old iMiEV would be very close to ZERO, so there's no recouping anything we paid for the car

I can think of several other cars which turned out to be much cheaper to drive in the long run - If you had bought a '64 Mustang convertible new and put 100K on it and sold it 20 years later, you'd have got back every dime you spent on it a couple times over. I read an article about a guy who bought a used Sunbeam Tiger for $2,500 to use as his college car. He ended up keeping it for 10 or 12 years (until his law office was up and flourishing) and sold it for $25K. An antique iMiEV will likely never be worth 1/10th what we paid . . . . unless it's for parts for someone to home-build a car. Cheapest car I've ever owned? I've had a couple that I sold for more than I paid for them already and as much as I love both of our EV's, I don't think they're never going to rate as the cheapest to drive of the cars I've owned

Don
2012 iMiEV SE Premium, White
2012 iMiEV SE Premium, Raspberry Metallic
2012 iMiEV SE, White
2017 Chevy Volt Premier
2014 Ford Transit Connect XLT SWB wagon
2006 Itasca Navion Sprinter Motor Home

Aerowhatt
Gold Member
Posts: 446
Joined: Wed Jan 28, 2015 1:52 pm

Re: New owner in West Michigan!

Sat Oct 24, 2015 2:12 pm

Yes like making the comparison between it and classic (they turned out to be and no one knew when they were new) cars is a fair comparison.

However when comparing apples to apples the iMiEV comes out on top, easily. Current MSRP is $23,000 minus $7500 tax credit. The 60,000 mile fuel savings using electricity instead of gas is 8,750 (according to the EPA) take it to 100,000 miles and add another $5800.00 in fuel savings. That doesn't even include the cost of radiator flushes and oil changes saved over keeping up an ICE for 100k miles.
Bottom line $23,000 - $22,050 (total savings) = $950 plus insurance, tires, etc., which both "apples" will need relatively equally and can be excluded thusly. It doesn't need to have any resale value to wipe the floor with the economics of any sub $25,000 ICE (which doesn't turn out to be a classic collectors car down the road).

Actually, as an aside. The iMiEV has higher than average potential of becoming a highly valued collectors car in the future (not that it needs to). First real production EV in the world for instance. Keeping in mind that the odds of any car becoming a collectors item are slim to none.

Back on topic - Good to have you aboard DutchBrad. Welcome to the club and I hope you stick around the forum in the future.

Aerowhatt
(July) 2014 cool silver ES, acquired new 4/2015 (40.9ah at ~34K miles)
(Aug) 2014 Labrador Black Pearl ES, acquired new 3/2016 (39.7ah at ~20k miles)

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