Cost Comparison: Combustion, PHEV, and EV Vehicles

 

When deciding between a traditional internal combustion engine (ICE) vehicle, a plug-in hybrid electric vehicle (PHEV), or an electric vehicle (EV), understanding long-term ownership costs is crucial. While EVs promise reduced fuel costs and fewer moving parts, ICE vehicles and PHEVs have their own advantages in reliability and refueling convenience. This guide breaks down the maintenance, fuel, and overall ownership expenses for each vehicle type to help consumers make informed decisions.

Fuel and Energy Costs

• ICE Vehicles: Traditional gasoline or diesel vehicles require regular fuel fill-ups. The cost fluctuates with market conditions but averages between $3 and $5 per gallon in the U.S. Fuel efficiency ranges widely based on the vehicle’s size, drivetrain, and aerodynamics, with economy cars averaging 30-40 MPG and larger SUVs or trucks falling between 15-25 MPG.
• PHEVs: Plug-in hybrids operate on both gasoline and electricity. The ability to drive short distances (usually 20-50 miles) on battery power before switching to fuel provides significant savings. Charging at home is cheaper than refueling with gas, but PHEVs still require periodic engine maintenance and fuel costs when operating beyond their electric range.
• EVs: EVs eliminate fuel costs entirely, instead relying on electricity. Charging at home costs significantly less than gasoline—averaging around $0.10-$0.15 per kWh—translating to about $4-$6 for a full charge on a mid-range EV. Public fast-charging stations can be pricier, often costing $0.30-$0.50 per kWh.

Routine Maintenance and Repairs

• ICE Vehicles: Require frequent oil changes ($50-$100), transmission fluid replacements ($150-$300), air filter changes, spark plug replacements, and cooling system flushes. Over time, ICE engines accumulate wear, leading to higher repair costs.
• PHEVs: Since PHEVs still utilize an internal combustion engine, they require similar maintenance but at a reduced frequency since the engine operates less often. Oil changes and other standard maintenance remain necessary but can be performed less frequently compared to an ICE vehicle.
• EVs: With fewer moving parts, EVs require minimal routine maintenance. There’s no oil to change, no transmission to service, and regenerative braking reduces brake wear. However, EV owners should still replace coolant for battery thermal management ($100-$200 every 4-6 years), and battery degradation can become a concern after 8-15 years.

Brake Wear and Tire Longevity

Brakes:

• ICE vehicles rely solely on traditional braking systems, leading to standard brake pad and rotor replacements every 20,000-70,000 miles.
• PHEVs and EVs utilize regenerative braking, significantly extending brake life. Many EV owners report brakes lasting well beyond 100,000 miles.
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Tires:

• EVs tend to wear through tires faster due to their increased weight from battery packs and instant torque delivery. Performance EVs and models with heavier batteries often require replacements every 15,000-30,000 miles, compared to 40,000-60,000 miles for ICE and PHEV vehicles.
• Using EV-specific tires, which are designed for durability and efficiency, can help mitigate faster wear rates but may come at a higher cost.
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Battery Replacement and Longevity

• ICE Vehicles: No high-voltage battery packs to replace, though 12V battery replacements ($100-$200) occur every 3-5 years.
• PHEVs: Smaller hybrid batteries typically last 8-12 years, with replacement costs ranging from $3,000-$7,000 depending on the manufacturer.
• EVs: Battery packs are built to last 10-15 years with gradual degradation. Most manufacturers offer warranties covering 8 years or 100,000 miles. If a replacement is needed, costs can be substantial—ranging from $5,000 to over $25,000, though prices are expected to drop with advancements in battery technology.

• ICE vehicles tend to have higher fuel and maintenance costs but lower upfront costs and greater fueling convenience.
• PHEVs strike a balance, offering fuel savings and lower maintenance while retaining some ICE-related costs.
• EVs have the lowest long-term maintenance and fuel costs but may require higher initial investments and charging infrastructure considerations.

Final Thoughts

Choosing between an ICE, PHEV, or EV depends on your driving habits, budget, and access to charging infrastructure. While EVs provide the most savings on maintenance and fuel, their higher initial costs and potential battery replacements must be considered. PHEVs offer a middle ground, reducing fuel costs while retaining some traditional maintenance. PHEVs are great if your daily commute or driving requirements are under 30 miles a day. ICE vehicles remain the most convenient in terms of refueling but come with the highest long-term expenses.

How My Car Insight Can Assist You

Navigating the complexities of choosing between an internal combustion engine (ICE) vehicle, a plug-in hybrid electric vehicle (PHEV), or an EV can be daunting. My Car Insight (MCI) is dedicated to simplifying this process and ensuring you make an informed decision that aligns with your needs and budget. Here’s how MCI can support you:

• Personalized Consultation: MCI offers tailored advice to help you understand the advantages and potential drawbacks of each vehicle type, considering your driving habits, environmental concerns, and financial considerations.
• Market Analysis: With access to up-to-date market data, MCI provides insights into current pricing trends, helping you identify opportunities to purchase vehicles—especially used EVs—at competitive prices.
• Vehicle History and Condition Reports: MCI conducts thorough checks on used vehicles to identify potential issues such as accidents, title concerns, and frequent repairs, helping our clients make informed decisions and avoid problematic cars whenever possible.
• Negotiation Assistance: Leveraging industry expertise, MCI assists in negotiating favorable terms with sellers, aiming to secure the best possible deal for you.
• Time and Hassle Savings: By handling the research, evaluation, and negotiation processes, MCI saves you valuable time and reduces the stress often associated with car buying.

Partnering with My Car Insight ensures a seamless and informed car-buying experience, empowering you to make choices that offer long-term satisfaction and value.