Going all Electric Wheels Has Been a Game Changer. Why I Stopped Using Gas Pumps

Posted by on Nov 27, 2017 in Financial planning, Psychology of money | 0 comments

Life with focus and purpose

Financial Planner and Author, Steve Wightman

Going All electric Wheels? When I was a boy, my mechanically-minded dad shared a bit of his youth – when he was infatuated by new technology; automobiles. One in particular stood out in memory. It was all electric and it could go as fast as a horse to reach an amazing speed of 40 MPH and might go not a lot further than a horse before the batteries died a temporary death. I’ve long fantasized about owning and driving an all electric automobile, but none of the ones I considered could get beyond the 100 mile range barrier. Then the 2017 Chevy Bolt entered my life. With an EPA Average 238 mile range approaching that of gas fed cars, I was sold!

 

What was the clincher? The more I read about this smart car with Apple Talk, Itunes and remote climate control, the more I fell in love. Like my wife it directs me and it also actually listens to me. When I give it directions and commands it faithfully and promptly follows them. Want satellite radio, directions, or a restaurant reservation? Just ask and like a genie out of a bottle, my command is granted via a three months free On Star subscription that pairs with my I-phone and gives me full on screen access to all my addresses and phone numbers. Wow!

 

Were there surprises to going all electric wheels? Oh yes. Highway acceleration is absolutely breathtaking, 0-60 MPH in 6.4 seconds. The first time I tried it I was nearly pinned to my seatback. Safety: with 360 degree cameras and safe driving sensors a collision avoidance system will first warn and if no response it will slow and even stop the car if there is a forward object like another car or pedestrian. Rear back up and yes, futuristic sky view cameras give me a real advantage backing up. I can now see obstacles like the trash cans I forgot about that were out of my field of view in other cars, including rentals, I had driven. On the downside, the lithium ion batteries that power electric cars degrade with time and lowering temperatures. GM recently released a new Owner’s Manual for the Bolt. It GM says “Like all batteries, the amount of energy that the high voltage “propulsion” battery can store will decrease with time and miles driven. Depending on use, the battery may degrade as little as 10% to as much as 40% of capacity over the warranty period.”[1] However, limited current data suggest degradation will likely be at the low end of that range for up to 150,000 miles – and long before then I would have traded for a new set of wheels. Last, with cold temperatures and my heater on, I’ve noted about a 20% decline in range. Since most of my driving is local and I recharge nightly, the cold doesn’t crimp my style.

 

All electric wheels means free energy thanks to state energy initiatives. Of a total of 42,530 charging stations nationwide I found lots of municipal and state charging stations – free often with free parking to boot! [2]

Chevy Bolt: Going all electric wheels and a new life!

What a deal I got. Up front I landed a fully loaded new car at a great price from a car buying system I created called the Car Buyer’s Option, CBO. I saved thousands off published dealer prices. You can too. See www.wightmanfinancial.com for an upcoming white paper available December 7 on my secret method, the Car Buyers Option, or CBO. Further, the Bolt comes with solid warranties – up to 8 years on the batteries. Last, by joining the ranks of 685,860 current EV owners I don’t have to pay for even a single drop of gas. That alone will likely save me over ten thousand dollars over my vehicle lifetime.

One of many financial incentives to buy an EV

Are we on the cusp of a transportation revolution? Maybe we are. On Sunday November 19th I attended an electric car rally at Depot Square, Lexington MA sponsored by Mass Energy. About 20% of the cars in the lot were all electric; Nissan Leaf, Tesla Model S [3] and a few Chevy Bolts. The rest were hybrids. Past experience strongly suggests this response represents early adopters of this new technology. As Moore’s Law[4] has consistently shown with computer and cell phone sales, most people will at least partially electrify en masse within a few years.  Volvo has already said it will stop producing internal combustion engine, ICE powered cars in 2018. The Sunday audience seemed very interested and enthusiastic about electric cars. Some were amazed that the range of a Tesla or a Chevy Bolt was over 200 miles. Most of all, the event was pure fun.

 

Let’s clear the air. I now feel liberated from hydrocarbons. I no longer have to pour oil and no more gas pumps. In fact I love driving by them! All electric wheels is a new generation saying goodbye to the fume choking old one. It’s not your dad’s or even your granddad’s car. It’s just the car they wish they could have chosen knowing what we know now. It’s all electric like how I now feel about my future and my legacy to my planet and my own grandchildren. I’m bolted to it now!

[1] https://electrek.co/2016/12/07/gm-chevy-bolt-ev-battery-degradation-up-to-40-warranty/

 

[2]  https://www.chargepoint.com/

 

[3] https://en.wikipedia.org/wiki/Tesla_Model_S

[4] https://en.wikipedia.org/wiki/Technology_adoption_life_cycle

 

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