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I'm running on E85 since a few months now, have done 5 or 6 tank refill.
I've never experienced anything wrong.
pros:
WAY cheaper in Europe
more power and torque - definitely noticeable
Never had cold start on my side, even when temperature was down to -5°C (23°F). I'm living in switzerland, and trust me, it's cold over here.
cons:
higher consumption. I've noticed a 10-15% higher fuel consumption, but offset largely by the cheaper cost
Less fuel stations available. I think it's more of a problem in the US - I have 3 E85 station 10 miles around my home here.
note:I'm living in switzerland, and E85 in switzerland is actually different in summer and winter (it's E70 in winter and e85 in summer), and i've never had any cold start issue. Hence I guess that, in the US, cold start issue can be prevented if you simply add 1 gallon of standard fuel in your tank everytime you fill it up during winter
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