Wow, there’s so much misinformation floating around.
Here’s the breakdown, the electric components of the Bolt are covered for 8 years/100,000 miles, while the Corolla’s powertrain warranty is 60 months/60,000 miles.
According to sources, a Chevrolet Bolt EV will depreciate by 27% after 5 years, with a resale value of $24,683. On the other hand, a Toyota Corolla will depreciate by 21%, with a 5-year resale value of $19,177. It’s worth noting that the Bolt’s depreciation is $1,500 more than the $7,500 tax credit. So if you qualify for the credit, your five-year depreciation might only be $1,500.
In terms of overall cost of ownership, buying an EV seems to be the better choice.
Plus, my EV charges on solar power, so it’s much better for the environment. Even if I were to use the grid in my area (Midwest), EVs are still much more environmentally friendly. ICE cars are only 15-30% efficient, while EVs are 80-90% efficient. That means if I charged my EV using an industrial generator running on gas, it would still be more efficient than an ICE car.
And let’s talk longevity, the Ford F150 EcoBoost engine has a maximum reliable mileage of 200-230k miles, according to 4WheelDriveGuide. Meanwhile, there are Teslas on the road with over 500k miles. My i3 has almost 100k miles and still has more range than its specs claim. I recently attended a Corvette show, and those old cars are amazing. They may have low mileage and be babied, but they’re still great cars.