u/jmecheng

I would budget more than $40k. Insurance alone can be $8k, plus licensing ($2k+), plus vehicle, plus advertising. You would probably be at $20k without purchasing a vehicle before you can start any work, not including tools, equipment and required inventory. Add the vehicle (as you said current vehicle wouldn't work) plus tools and equipment you're probably at $70k-$80k.

Do you have a business plan?

Is there a way you can start with what you have (no truck, limited tools, limited inventory)?

Many people fail in starting a business because they don't budget enough, and don't have the required income to sustain them through the first couple of years while building the business.

As a locksmith, there are liabilities that you have to insure for.

10k seams low...

Do you already have the vehicle? If not add the cost of the vehicle.

What about licensing and insurance? How about fuel? Maintenance? Key cutting machine?

Can you support yourself for 2-3 years without income from this venture?

Why doesn't your friend want to start this on their own? What would your security be?

Why the Variablegrid? The good thing is that there is a credit program for this charger (looks like $0.10/kWh), however if you don't need power management for the EVSE, there are other options.

For winter range, you're better off with NMC batteries. This would be VW, BMW, Hyundai, Kia (except the new model, EV6 long range and older are NMC).

Home L2 charging will help. Schedule heat and charging for departure time, this way the vehicle warms up while plugged in to the home.

I'm in Vancouver, but regularly travel to the interior, Jasper, and Calgary, including winter. With NMC battery at -20 deg C I experienced a 20% loss in range.

I will not go back to ICE unless there is something extremely significant that changes in my driving or technology.

Used EV, change out the vehicle with the worst fuel economy (33mpg) first. Then solar, then 2nd vehicle.

Exactly.

The idea of HV batteries being an issue is an old "wives story" and commonly repeated in many discussions on EVs. They have been proven to be false for years now. Even in the worst BEV (Nissan Leaf with air cooled battery), the cost to replace the battery with a new, aftermarket battery with higher capacity and longer life is $8k in Canada (upgrade from 30kWh to 64kWh battery), I've heard of options for under $5k.

On my VW ID4 ProS with the large battery option (82kWh battery) to replace the battery with a brand new OEM assembly is under $18k, to swap the battery with a used battery is under $6k with parts and labor (again, in Canada where things are typically more expensive).

Tesla M3/MY battery replacement is $12k for parts and labor done by Tesla (at one of their authorized repair centers).

There was a report published last month that calculates that the used EV HV Battery market, to repurpose the batteries to stationary storage is estimated at $2b-$5b by 2035.

This is a great thing to do to help the tenant out. However in BC this is not the landlord's responsibility.

This should be taken with caution.

Landlord is only responsible for the rental amount on the days that the suite is not livable.

Many tenant insurance policies have a statement that will void paying for alternative accommodations if the landlord provides a rent abatement for days lost. This can be a significant difference in costs and it may be a better option for the tenant not to take a rent abatement to get full coverage on alternative accommodations.

Tenants should read their insurance policy terms before filing for any claim due to loss of use.

Replacement batteries out of warranty are less common than replacement engines. Much like a replacement engine, most people won't put a brand new engine in to a higher millage (out of warranty) car, why put a brand new battery in when there are batteries that are in great shape in wrecked vehicles. Swapping a HV battery in most EVs takes less time than swapping an engine.

Most EV HV batteries will last about 600,000 miles.

As for the savings, it will depend on how much you drive, how long you own it for, what the cost of electricity is in your area and what the cost of gas is in your area.

I'm a high millage driver, if I hold on to my current EV for 7 years, I will have saved the purchase price of my EV in fuel saving only (I'm currently saving about $8,700/year, however my setup is a bit different as I'm on solar at home and charge at work).

With my fuel savings per year, it would take me 2 years to pay off a new battery in the ID4 I drive (current estimated cost to replace the battery is about $15k here).

At his point, I would talk to the landlord and request that either the showings are limited to a couple of days per week, or that you receive written notice for each showing.

The realtor should be more comfortable with the limited days than having to give 24 hours written notice for each showing.

Text message is not considered noticed as per RTB.

You're biggest issue will be affording the gas bill...

Regular maintenance will go far to reduce maintenance costs.

NMC batteries are rated for 80% SOH after 2,500 x charge cycles. A charge cycle is about 1% true SOC to 99% true SOC (note, EVs will not let a battery discharge below 5% or above 95% true SOC). The shorter the cycle the more cycles the cell can handle, charging from 20%-80%, even though this is 60% of the cell capacity, it is less than 50% of a charge cycle. Even if you take it as 50%, that means you can charge from 20% to 80% 5,000 times before the cell will reach 80% SOH. At 2,000 cycles, this would be around 1,260,000km (780,000 miles) to reach 80% SOC. DC fast charging and charging to 100% will shorten this as will aging of the cell.

LFP batteries are rated for 3,000 - 5,000 cycles under the same conditions.

There are new LFP batteries rated for 6,000-8,000 cycles.

I've been looking over the BlackVue Box serries, I think that might be the best option for now...

Thanks for your comment.

You are in a fixed term lease, you are responsible for the entire term of the lease. The landlord has a duty to litigate their losses by advertising at current market rate.

If the landlord files with RTB, you can expect to be found liable for the liquidated damages plus 1-2 months worth of rent.

If the landlord rents out the unit at a lower rate than your current rent, they can file with RTB for the difference in rental amounts until the end of your current agreement.

Wouldn't this be a warranty claim? Most EVSEs come with at least a 12 month warrenty.

The ship for being an early adopter for an EREV has long since sailed. Chevy introduce the Volt in 2011.

Most current model PHEVs operate very similar to EREVs.

For most people full BEV is more than suitable, I personally think that the time for EREVs was 5 years ago in most locations (there are couple of areas that don't have sufficient fast charge locations) but unless you are doing weekly road trips of over 800km return and have the ability to charge at home, an EV will work out to be significantly less expensive for fuel costs and maintenance costs than an EREV or ICE.

I've been driving EVs since 2018 and am a high millage driver.

I will not go back to ICE.

My daily commute is 110km (68 miles), I do road trips at least once a month at 1600km (1,000 miles) round trip or longer monthly, they add about 40 minutes each way to my drive over ICE, however this is time that I am typically stopping for washroom breaks, coffee, or meals. Actual extra time over ICE is less than 20 minutes total.

The first couple of trips will require a bit more planning, but once you know where the stations are, its easy.

Late night drives long drives in an EV are easier then ICE now where I live as EV stations are open 24/7 and gas stations aren't anymore. There's one drive that I do where after 11pm in winter there's 600km between open gas stations, if you don't have a full tank at the start, you risk running out of gas before you reach the next station. On the same route, there's over 16 EV fast charge locations with 2 or more stations at each location.

Insurance rate will depend on driving history, value of the vehicle, vehicle options.

EVs batteries in current (2022 and newer) model EVs (other than the Nissan Leaf air cooled batteries) are expected to last over 600,000 miles on average.

If (and the chances are low) you need to replace the battery once out of warranty (100,000 miles, 8 years), you can replace it with a used battery from a wrecked EV, much like replacing an engine in an out of warranty ICE, in most cases, it's quicker to replace a battery pack than to replace an engine. There are also rebuilt batteries available for many EVs now, that are less expensive than new and come with warranties.

That's where 2 year old used EVs come in, about the same cost as a similar ICE with additional fuel cost savings. Current listings locally for the i4 are about $1-$5k less than similarly equipped 4 serries ICE when 1-2 years old. Wife loves the i4 and now I don't have to worry about taking her car to the gas station once a month.

In some locations, EVs have lost a lot of value from new, making them an even better deal.

I state this far too often, but will again.

1 or 2 year old BMW EV, i4 or iX, both great rides, fun, comfortable, quite... Depending on the area used BMW EVs depreciate an incredible amount in the first 2 years, making them great deals at the 2 year old mark for the quality they offer. Also the BMW EVs so far have been extremely reliable.

What materials are you familiar with welding, what qualifications do you have?

There are many questions to answer prior to being able to state lease or finance:

1) How much do you drive per year.

2) Is having a vehicle a condition of your new role (sales)?

3) If a vehicle is required for your role, how (if) do they compensate you for the vehicle use (millage, monthly amount, combination)?

4) How long will you realistically have the vehicle for?

When it comes to financing (lease or purchase) when you have a variable income, base your spending/budget on the base with savings until you have 2-3 years of consistent commission. Your variable pay should go straight in to saving (preferably RRSP, TFSA).

With a lease, the lease rate will increase with millage per year. Its less expensive to pre-pay millage then to pay at the end of the lease. Some leases have an option that if you use less millage than the lease, they will pay back some of the pre-paid millage.