Introduction
We recently began searching for a second-hand car to replace our current one, with the goal of reducing our monthly overhead costs. Naturally, this wasn’t an easy decision—especially for someone like me, who’s been a petrolhead since attending my first car expo back in 1988 at the tender age of 10.
Our requirements were quite specific, and although not listed in strict order of priority, each was given almost equal importance:
- AWD or 4×4 capability – essential for handling Finland’s extreme weather conditions.
- A large boot – to accommodate our 55kg dog along with camping and outdoor gear.
- Low maintenance costs – we wanted to avoid being tied to expensive servicing.
- Strong resale value – a critical factor in overall cost efficiency.
- No older than 3 years – to ensure modern safety features and reliability.
- Mileage under 50,000 km – for better longevity and warranty considerations.
- Low environmental impact – a growing priority in today’s world.
- A price range between €23,000 and €28,000 – fitting our budget constraints.
Unsurprisingly, this proved to be quite a challenge. Throughout the process, my long-standing critiques and doubts about the auto industry—particularly its current direction—reached a point of deflation and more questions and confusion than answers.
I figured I would publish my findings and reflections. I hope it offers some useful insights for others who might be navigating similar decisions.
We all have seen how vehicle technology has been evolving and environmental policies tighten, and in the Nordic countries specifically in Finland for this article, drivers are faced with a challenging question: Is it still worth investing in a traditional internal combustion engine (ICE) vehicle, or is now the time to switch to a plug-in hybrid (PHEV) or fully electric vehicle (EV)? There are many factors to consider—upfront cost, maintenance, resale value, fuel or electricity prices, tax benefits, and of course, Finland\’s national goal of electrifying all new cars by 2030. Although ICE vehicles are often cheaper to maintain and repair in the short term, their long-term value is increasingly uncertain. Meanwhile, EVs and PHEVs promise lower running costs, but carry higher purchase prices and potential battery replacement costs. So, how does this all balance out?
Resale Value Trends in Finland
In Finland, the resale value of vehicles is heavily influenced by environmental policy, market demand, and the availability of charging infrastructure.
| Vehicle Type | Current Resale Trend | Future Outlook (Post-2030) |
|---|---|---|
| ICE | Declining, especially diesel | Likely to drop significantly, especially in urban areas |
| PHEV | Stable, strong for popular models | May lose some ground to EVs, but remains viable as a transition technology |
| EV | Increasing, particularly for long-range and reliable brands | Likely strong resale value due to regulatory push and consumer demand |
Finland’s ambition to eliminate new ICE car sales by 2030 and implement low-emission zones in cities like Helsinki means ICE vehicles may soon become less desirable, especially in urban settings.
Operating and Maintenance Costs
Operating cost is where EVs and PHEVs often shine. Here\’s a comparison of typical expenses over the life of the vehicle:
| Cost Category | ICE | PHEV | EV |
|---|---|---|---|
| Fuel / Energy | High (petrol/diesel) | Low (electric + some petrol) | Very low (electric only) |
| Annual Tax | High (>€650) | Medium (€350-€650) | Low or exempt <€350 |
| Maintenance | Medium (oil, brakes) (€250 -€650) | High (dual system: ICE + EV) (€350-€850) | Low (fewer moving parts) |
| Charging Cost (home) | N/A | ~0.15–0.25 €/kWh | ~0.10–0.20 €/kWh |
| Repairs (battery) | Low risk | Medium risk post-warranty | High risk if battery fails |
ICE cars are simpler to repair and generally cheaper per incident. However, over time, EVs more than compensate with significantly lower running costs.
Total Cost of Ownership (TCO) Over 5–10 Years
A more comprehensive picture emerges when we look at the total cost of ownership (TCO), including purchase, fuel, tax, and maintenance:
Estimated 5-Year TCO in Finland
| Vehicle Type | Avg. Purchase Price | 5-Year Fuel/Energy Cost | Maintenance & Tax | Est. Resale Value | Total Cost |
|---|---|---|---|---|---|
| ICE | €30,000 | €8,000 | €5,000 | €12,000 | €31,000 |
| PHEV | €38,000 | €3,000 | €5,500 | €18,000 | €28,500 |
| EV | €42,000 | €2,000 | €3,000 | €22,000 | €25,000 |
(Note: These are illustrative values based on Finnish market averages and may vary by model.)
Charging Infrastructure & Weather Considerations
Finland has made substantial investments in public and residential charging infrastructure. As of 2024, there are over 6,000 public charging points nationwide. Home charging remains the most economical option. However, it’s worth noting that EVs can lose up to 30% of range during severe winter months, making battery thermal management and pre-heating features important for Finnish buyers.
Environmental & Policy Factors
The Finnish Transport and Communications Agency (Traficom) and EU-level regulations support the transition to electric vehicles through incentives, reduced taxes, and infrastructure grants. Companies are also penalized with higher taxes for fleets with high CO2 emissions, nudging both individuals and businesses toward electrification.
Conclusion: Which Is the Smarter Choice?
If you:
- Drive under 50 km/day and have access to home charging: EVs offer the best long-term value.
- Want to balance low emissions with fuel flexibility: PHEVs are a practical bridge technology.
- Need low upfront costs and don\’t plan to resell soon: ICE cars are still viable—but increasingly outdated.
Over a 5–10 year horizon, EVs and PHEVs outperform ICE vehicles in total value, despite higher initial prices. Given the tightening regulations, fuel costs, and technological improvements, the shift to electrified vehicles in Finland isn’t just environmentally sound—it’s economically sensible.
Now, Let\’s put on our reality and risk assessment hats:
After all the information I went through, there were a lot questions that still weren\’t answered or that felt weren\’t even addressed. I needed to take a step back before running out and buying a circa €30K electric chariot because it “makes economic sense”, and \”it\’s green\”. All this math/data? All these policies? They look neat in a spreadsheet. But life is not snapshot from a spreadsheet (even though we work with those everyday)-.
Let’s say the internet goes down tomorrow—like it did in Portugal and Spain recently. Power grids flicker, and now your EV is just a big, silent sculpture in your driveway – a potentially even more expensive one if something blew while it was charging. Charging? Forget it. You’re back to public transport, if that even works. And don’t even get me started on the batteries. You think ripping lithium out of the ground in South America is sustainable? You think dumping spent battery cells into landfills or “recycling” them in some outsourced corner of the world doesn’t come with a cost? Wake up.
And here’s the kicker: carmakers know this. They’re already whispering their exit strategies from EVs (https://carbuzz.com/all-the-automakers-that-have-pushed-back-ev-production/). Because while Europe tightens its grip, the rest of the world—the real majority— cannot afford to play that game. India? Africa? South America? They’re not going full EV anytime soon. So what happens when the markets that matter don’t follow suit? Automakers pivot, as they should. And suddenly, all these expensive, over-regulated cars in Europe become yesterday’s news with a big \’oops, sorry!\’.
Oh wait! Let\’s not forgot another uncomfortable truth: these vehicles are hackable. Yeah—software-defined, cloud-connected, over-the-air-updated EVs are also walking cybersecurity risks on wheels. What happens when a malicious actor takes control of your brakes or disables your charger remotely? We\’re not just talking about privacy breaches or stolen data—this is about road safety, physical security, and national infrastructure vulnerabilities. You lock your front door, right? But did you ever think your car could be the back door into your home Wi-Fi?
In any case, this whole enforced green revolution? It’s got a blind spot. And if we don’t account for that—if we don’t plan for resilience instead of trend-chasing—we’ll be left with garages full of unused tech, larger waste piles. and a planet still warming up. So what\’s my conclusion? Easy: the car is just a material but useful luxury, and the trend in the news in Finland is that PHEV and EV are safe for the next 5 -10 years. So, the risk-free thing to do is go with the flow and get PHEV, that is comfortably within its battery warranty time-frame and get rid of it within 5 years and let it become someone else\’s problem. Very ungreen and wasteful, but that is the outcome of short-sighted legislation.
Sources & References:
- Autoalan Tiedotuskeskus (Finnish Information Center for the Automotive Sector, https://www.epressi.com/uutishuoneet/autoalan-tiedotuskeskus.html)
- Motiva.fi (Sustainable driving & energy efficiency )
- European Environment Agency (EEA https://www.eea.europa.eu/en/topics/in-depth/electric-vehicles)