citiCite
FORUMS PHOTOS GROUPS EVENTS WIKI
CREATE ACCOUNT | LOGIN
Mueller Community (change)
Forums
You are NOT logged in.
RSS
Mueller Community
Financial Analysis for PSP Electric Vehicle Program
All of the following posts have been contributed by citiCite members.
Viewing 1 to 6 of 6 posts
Page Header Image
Forum Navigation

Recent Forum Posts

Upcoming Events
Sorry, but there are no upcoming events.

User Profile Image
ineoeni
Mueller Community

Posts: 103
Joined on May 18th, 2008
Financial Analysis for PSP Electric Vehicle Program
by ineoeni on September 20th, 2011

Hi everyone,

At the request of some neighbors, I've put together a spreadsheet to help everyone figure out the financial implications of getting an electric vehicle (through the PSP program or otherwise).

The spreadsheet is pretty robust, in order to take into account the myriad of scenarios we are all in. For example:

If you currently own your car, and think you can get another 5 years out of it, but you think you can get $5,000 for it today, you can do sell it and then get the EV.

If you currently own your car, but still owe some money on it, you can still sell it - cover the balance of your loan and get the EV.

If you are looking for a new car because yours is defunct - you can do a straight up comparison with the spreadsheet.

You can also toggle your expectation of gas and electricity inflation (but I wouldn't really recommend it) - you can toggle the specifics of the Replacement EV (the numbers in it currently are for a Volt. If you want to model the Leaf, change the "Electric MIles" to 100% since there is no gas at all.

The only constraint is that I don't model changes in maintenance costs. The case can be made that if you sell an older vehicle today (or even a new gas-powered vehicle) that since the EV's have fewer moving parts, there should be less maintenance, making it even more financially attractive, but in order to stay conservative and since these variables are currently unknowable, they are ignored in the spreadsheet.

Make sure you fill in every field in blue to the best of you knowledge to get the right numbers.

I did not model the Lease because the primary benefit of the lease is going to be through fuel savings. For people interested in leasing, if your alternative is a vehicle that gets 25 mpg, a Volt would save you $3,000 in fuel costs over three years ($83/month). If your existing vehicle gets 15 mpg - it will save you $5,700 over three years ($158/month). Leasing the vehicle considering the downpayment and lease payment seems like a no-brainer in terms of cost, but reducing cost is not the only consideration with these things.

Good luck and if you find any issues with the spreadsheet, or if you have questions, shoot me an email at amankj at gmail.com.

Aman

 
There is 1 attachment to this post.
EV Analysis v2.xls (45,056 bytes)
Sorry, but there is currently no preview available for this attachment.
 
No Image Available
bryan jones
Mueller Community

Posts: 13
Joined on August 29th, 2009
Financial Analysis for PSP Electric Vehicle Program
by bryan jones on September 20th, 2011

Nice spreadsheet, Aman. Looking forward to running several scenarios in the coming days.

What would it take to add a solar component into this? Or do you think it's negligible to this equation?

Thanks
 
No Image Available
jlincove
Mueller Community

Posts: 34
Joined on March 22nd, 2009
Financial Analysis for PSP Electric Vehicle Program
by jlincove on September 21st, 2011

This is cool. It's easy to add discounting just by dividing the net benefit each year by: (1 plus your personal discount rate)^t (t is the year) before you sum them up.

But why did you include the replacement cost of the current vehicle as an upfront cost? The benefit of not getting a new car is that you don't need to pay for a new car.

 
No Image Available
paulsjv
Mueller Community

Posts: 191
Joined on September 5th, 2008
Financial Analysis for PSP Electric Vehicle Program
by paulsjv on September 21st, 2011

Quote:
The benefit of not getting a new car is that you don't need to pay for a new car.


But if you have a truck like mine that gets about 18 mpg and is 11 years old it makes a difference in the long run. :)

 
User Profile Image
ineoeni
Mueller Community

Posts: 103
Joined on May 18th, 2008
Financial Analysis for PSP Electric Vehicle Program
by ineoeni on September 21st, 2011

Bryan - thanks. I'm not sure what you mean by adding a solar component. The only way solar would be involved in these calculations is that if you have solar, PSP will refund the up-front cost you spent for your install up to $5,000. If the gross cost of the vehicle is 40K and you get 7.5 from the fed and 7.5 from PSP, your net cost is $25,000. If you have solar on your roof, you get another $3,000 to $5,000 (depending on how much you spent on your system).

Jlincove - I didn't add discounting because most people don't think in those terms, and I couldn't find a scenario where it drastically changed the outcome.

However, your specific question of the replacement vehicle, I did address. If you don't plan on buying a replacement vehicle for 5 years, you just enter in 5 in cell D8. While the math still won't take the time value of money into account, it does move the expense of a new vehicle to year 7 (and pro-rates it based on its useful life since the new vehicle will last longer than this analysis).

Thanks
 
No Image Available
Chance Troy


Posts: 102
Joined on July 30th, 2018
Financial Analysis for PSP Electric Vehicle Program
by Chance Troy on March 27th, 2020

They needed funding for the project which was not readily available so they had to take it from the EasyBank. It is the best option for them when it comes to getting a loan.
 
Weird Window Cleaning
Contact us to receive a free estimate for your window cleaning and experience the same service provided to so many of your Mueller neighbors. Mention this ad for 10% off.
512-944-3700
15 yrs exp. Insured.
Doug Gorton Professional Painting
Interior & Exterior Painting, Fence & Deck Staining, Hand Wash Houses, Screens, & Solar Panels
(512) 799-8384
Zen Electronics - Custom Home Theater
A Mueller Resident Owned Business Providing Personalized, Cost Effective, Home Theater & Home Automation solutions in the Austin, TX Area. Click here to learn more.
view more ads »
© 2005 - 2012 cityCore, LLC   |   terms   |   privacy