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I own a red 2021 Model 3 Dual motor long range. There were several Tesla “talking heads” who helped me make up my mind to buy my car. You were the Most influential of the bunch. Thanks!
As a 2019 Perfomance tm3 owner who is trying to sell theirs now.... we don't talk about it because of how much it stings :') Buy car for 60K try to get 20K
When I drove a gas car the periodic maintenance was performed every 3 or 4 months (depending on the miles) and cost $350 per visit, over $1000 per year. Since purchasing my electric car my maintenance costs are now in line with yours. A tremendous saving.
In the real world, you can change the oil a couple times a year at Jiffy lube and spend maybe $200 bucks a year on other maintenance like fluids and filters and wipers, etc. for the first 5 or 6 years if you buy a good Japanese ICE or HEV car. You do NOT have to do those ridiculous expensive maintenance intervals at the dealer.
@@rogergeyer9851 …That’s true, however, for warranty purposes it is better to have documentation of service performed by an authorized mechanic because if anything does go wrong the car maker will find a way to make the customer pay full price. Also, when tires are excluded I have paid 0$ for maintenance on my Leaf after almost three years. To me that is a huge benefit.
@@rogergeyer9851as a mechanic, an idiot with a basic harbour freight tool set can maintain their vehicle, it’s no different than learning that money works best in a s and p 500 rather than your .5% savings account, you tube = unlimited information, no excuses for people that say, I can’t do it
@@rogergeyer9851 But can any petrol car have autopilot or self-driving features? When it comes to tech, most manufacturers are at least 10 years behind. That’s why, like myself, I would go for a Tesla - they’re simply leading the way with advanced technology.
I have free charging at work and I car pool with coworkers and one person I pick up on carpooling app. My 2 coworkers pay me $50 a week and the other person $12 per day. I used to drive to work in my Toyota Tacoma paying around $100-$120 a week. The money that I was paying for gas in my Tesla model 3 payment plus insurance and some left over for any extra expenditures in the future. I have only paid for charging on road trips.
see the thing is free charging at work is very temporary. as these things get more popular you are not going to be able to get that free charging anymore. plus if you are living anywhere in california electricity cost even when charging at home is close to 0.4 per kwh, no where close to 0.08 that this guy is getting. so long term i dont see how electric cars are going to be any different from gas cars, especially for someone getting a car right now.
The main problem people worry about that is one of the biggest issues is having to replace the battery outside of warranty. That can run people over 10k and that can be a big reason why people hesitate to switch to a Tesla car.
Suggestion: move the charging port out of the garage and into the driveway. The battery is aging and the risk of a lithium fire increases with every charge! Then, if the fire burns up the car, at least it won't burn up your house. Your financial analysis did not include either vehicle depreciation or battery replacement amortization.
Back in 2018 I bought a used 2012 Toyota Prius V with 28,000 miles on it for $14,000. Now I've got 133,000 miles on it & total cost have been $29,000 over the same 6 years of ownership. It's running great, & will more than likely run past 300,000 miles. I've hauled water heaters, furnaces, air conditioners, etc. all while getting over 40 MPG with over a 400 mile range, summer or winter. Love it. I think there will be a lot more hybrids in the future because there are no sacrifices owning one.
Hi Andy. As someone that grew up in Kentucky and graduated from U of L, I have watched your podcasts from day 1. All my best to you. I have done a lot of traveling since then as I kept traveling west to California then to Hong Kong and after retiring to Portugal. I am now over 80 and in great health.😢
Great video, but the breakdown cost feels a bit incomplete. We should also put car resale value in the equation. Let's say the current value of the 2018 Tesla model 3 would be $17000 So, total out of pocket cost for 6 Years ownership with 144k miles would be: 75175-17000= $58175 Cost per year - $9696 Cost per mile - $0.40 (the most indicative data) Cost per mile with the BMW mentioned in video could be easily $0.60 which is 50% more compared to Tesla.
I have a 2018 LR, 82k miles. Didn't use the official battery health check but seems to be within the tolerance range. Maybe 10% off. I only need to charge to 80% daily, on trip to 90%. Tesla has warranty to 70% for 120k miles/8 years.
What state is giving you $0.08 a kilowatt? And are you factoring in taxes and fees because that's the real cost per kilowatt. Sounds too good to be true. I see public charging stations charging $0.40-$0.70 per kilowatt in NYC Tri-State Area. We're in Central NJ and we pay $0.16 per kilowatt that's with taxes and fees.
I live in the same city as he does. And yes it is $0.08/kw. I drive a 2015 Leaf, and pay probably $10 or so a month to drive and charge daily. State is Kentucky btw.
I bought a comparable Mitsubishi lancer new 13 years ago, full leather interior with a ten year manufacturers warranty. It cost 27,000 CDN new. I have come NO where near $75,000 total cost of ownership yet. Including fuel, tires, two gas trunk lid openers and one steering control bar replacement. But then again, I live in a walkable city where I don’t need to drive if I don’t want to. And I usually don’t drive. A tremendous savings over a new electric car.
This defies every other video I've seen regarding EV costs. BTW I own a BMW 5 series and I fill it on regular gas and haven't had a problem with the car in the 10 years I've owned it.
When the manual recommends premium and what most BMW drivers fills in, you filling with regular gas doesn't mean that's the norm. I owned plenty of BMWs at most I'd fill occasionally is Plus (never regular). If I see any cost comparison I want to see it compared with premium gasoline price. That'd be like telling people one gets 40mpg because one drives at 55mph on highways.
They never mention previous TIME wasted charging outside homes and stress it causes. Also they don’t mention cold weather and other conditions that make them useless.
@@georgiaguardian4696 I saved previous TIME by not needing to go to gas stations and service centers for various of maintenance. Cold weather hasn't affected my usage of car.
@@Trust_but_Verify I can always plan for car maintenance whenever I want to while doing other things the same trip. You are forced to stop by charging stations whenever you take longer trips. And not everyone has Fast home charging either. EVs still have more restrictions for most people. That’s why most people still refuse EVs.
My 5.5 years Model 3 91k miles haven't had as many issue you encountered. Replaced the charging door and passenger seat sensor (wrap insulation) under warranty. 12v battery was replaced after 4.5 years. Yes I switched from BMW SUV.
in fairness, you should add 10-15% to the energy used to account for charging losses, that you pay for anyway. Besides, I believe the reported energy used by Tesla doesn't take into account for climatization energy used
@@bondnikunj Dear, it has nothing to do with charger cost. When you charge a battery, there are resistive losses, that is of 100kWh an outlet delivers, only 85-95kWh will actually get stored into the battery. And the M3 keeps count only of the latter, while you pay for the former
I had to replace my front arm bushings at 30k miles. I went with upgraded solid mount bushings from mountain pass performance and it made the steering tighter and they will last forever.
Great video ! Many of the costs could have been much lower but still a great illustration of the cost savings. Now imagine if you bought a used Model 3 for 15k and charged it on some 35 dollar solar panels. That said the total cost of ownership seen @9:05 is why Tranportation as a service will crush individual car ownership in urban areas.
Lately I've been salivating over buying a new Model 3 but your "total costs" scenario has me rethinking everything including your insurance premium. (and I emphasize the word premium.) You make owning a Model 3 sound like it's not for the faint of heart.
so i bought a 2011 jeep liberty in 2016 for $1,300. had it in the shop a few times for oil pan, trans pan, waterpump, brakes, brakes again, one set tires that were $100 each. One battery couple years ago. Still going strong even thou I complain about money spent on it. Oh and full coverage insurance is $310 for 6 months. Now what about that, no matter how much gas I use, at least I don't have to worry about it going dead in the middle of nowhere and gas stations are everywhere and only take 5 minutes to fill up
Wow, you have over 98k more miles than I have on my 2018 M3. Of course, working at home since March of 2020 is the biggest reason why I have only 46k miles on my M3. Nice breakdown video. 👍
That 14-50 outlet hasn’t given you any trouble with overheating or anything? I have the exact same but in a 10-30 and my plan is to get the Tesla 10-30 adapter
Thanks for the recap. Btw, some of that free SC credit you received is when I used your referral code back in early 2019. Andy, you mentioned you4 insurance around $100 /mo. What insurance company is that and in what State? Thanks.
You missed windshield wiper fluid and also you missed to factor in the charging loss, which is usually around 10%. Also: Did you never preheat your Tesla? 🤔
If you drive lots, especially city driving, it makes a ton of sense to buy an EV. I drive about 5500 miles a year (9K km). A nice but less expensive gasoline car (VW GTI) does it for me. I ran the math and the savings just aren't there in my case. If I still lived in a big city with a long commute, I'd probably have gotten a model 3 and been quite happy
Same here because I work from home so no gas savings for me which is why I’m struggling to buy an EV right now. The value proposition isn’t there. Plus my car gets 30-35MPG. Ford Fiesta ST.
We almost bought a Tesla used model Y for 28k that had 49k miles. Our payment would have been 210$ a month but.. CA had a spike in insurance and it would have cost us 750 a month for insurance alone. If we subtract our other car, it would be about 650 per mont. :(. It don't help that a person in my insurance has a at fault accident that expires in 5 months so that could factor in. We will try again after the 5th month.
I like the idea of the Model 3, but long term reliability and quality has me worried. Currently drive a Civic that we have owned for 10 years. Nothing has broken on it. Maintenance costs have been minimal, and it feels like it will go another 10 years and 100k miles no problem. All the fiddly little problems your Mode 3 has had are concerning. I know yours is an early car, so I’m hoping the 2024s have much better quality. What is a better buy for someone who wants to keep their car for 15 years? A Model 3 or something like a Civic Hybrid?
Tesla is still relatively new to the automotive industry. Hybrids are tried and true technology. You are gambling with Tesla, when everyone knows for a fact that Honda’s & Toyota’s will last 300k+ miles when properly maintained. I would keep a Prius as a backup or daily driver.
I understand the concern about long-term reliability, but Tesla has made significant improvements in quality over the years, especially in the newer models. While early Model 3s did have some issues, the 2024 models are expected to be much better. Also, don’t forget the technology Tesla offers, like over-the-air updates and autopilot, which you won't get with a Civic or Hybrid. If you value tech, innovation, and future-proofing, the Model 3 might be worth the investment for the next 10-15 years.
Glad you posted this. My 12 year old Prius has experienced less than $200 in repairs in 12 years ... total. Gas, oil and tires is all it has required and very little gas.
Im considering a 2021, dual range model 3 with 170,000 which would be $13,500 after EV tax credit. Battery health looked great, and overall car looked good. Good or no?
They can pollute three times as much as a normal lightweight car . The tyres wearing out three times faster means three times asich serious pollution in the streams and rivers and the sea .
Hey mate, thanks for the video. I’ve had my Model 3 for 7 months and absolutely love it. You didn’t mention anything about your current battery health / degradation. How has that held up?
@@chezchezchezchez what do you mean negligible? 10% degradation is normal for a car that age and that’s not negligible. Some Teslas more, some less. It’s a valid question and valid thing to consider
People that buy new cars always want new cars...they buy them and sell them within 2 years. The depreciation value is coming into play as EV saturation becomes apparent. Everybody that wants an EV has one. So the demand for used and new EVs have fallen as they are not a rare status symbol any more. New car buyers that want to trade up their cars for newer models are not buying EVs because the depreciation value is too much. Fleet owners are suffering too.
You clearly don't understand depreciation. Depreciation of cars means that your once new, and now older car, is worth less than it was when you first bought it. That can happen because your now used car is falling apart and no one wants it. But in the case of EV's which actually hold up far better than most ICE cars because there are way less moving parts, in the case of EV's they are currently depreciating because the new model EV's are better and cheaper than ever, and so why would anyone want a used EV when you can get a brand new one at a great price. Therefore there’s lack of demand in the used EV market as new EV's dramatically improve and their prices come down. This, by the way, is a temporary phenomenon. In the coming years the EV market will settle out as the technology matures, and as EV makers get better and better at building their EV's at the lowest possible price. It's the same thing that happened in the computer industry a little while back, to name just one. And with smart phones, to name another. In a few more years, its pretty clear that EV’s will actually depreciate far slower than ICE cars.
Tap your brakes, @Tom-dt4ic. That's quite the salty response to the OP on the topic of depreciation. Who know this topic could cause such emotion?! True, depreciarion can be due to mechanical issues exactly like you said. That's not all though, is it? Nope. Depreciation happens when an asset's value decreases relative to similar assets on the market. Even a shite colour can devalue a car relative to others out there, EV or not. More importantly, just like the OP said, market saturation is the biggest driver of EV depreciation right now. Just ask Elon whether its happening on new cars or not.
I own a model y. I hit my first year milestone in April. At the one year mark I had driven 18,180 miles. I was interested in trading it in for a mode x. So we did the math. My all in cost was $44,000 after rebate and $4300 in fuel savings, add to this the four oil changes and other routine maintenance at $300 per service was another $1200 in savings. Charging with my home charger was $680, and maybe fifty bucks on super charging. So my cost is about $42,000 and I could trade the car in for $34,000. So i am $8,000 upside down. In two more years of driving equal mileage I'd break even as the car might lose a bit more value but nothing to call a loss in the end. With new car prices falling and resale values solid three years for us is the idea time to buy up. Andy kept his model 3 far too long! And his numbers are nuts. Electric vehicles lose serious value when you hold them that long. His battery is soon toast. Not smart. The car becomes valueless at that age once his batteries fail. They are only warranted to 120,000 miles.
Current data on Tesla battery life is turning out to be far better than anyone expected. Most batteries are still going strong after 150,000 miles with less than 15 percent battery degradation, much of that typically happening in the first year. (ICE car engines also lose efficiency over time.) And the batteries they’re putting in EV's today are even better, and will no doubt last even longer than their predecessors. In fact, the vast majority of today’s EV batteries will outlast their car.
@@rameshr4395 We are in a world of new car buyers unfamiliar with EV life.. Despite the facts they are not going to pay much for older batteries. The selling point is the warranty. New EV used car shoppers will want to know the car is under warranty. The closer you get exceeding the warranty the value drops fast. Go to Tesla and do an estimated trade in value of a six year old 150,000 mile Tesla. As you add mileage the values start to plummeting. You can ask this of the salesman at Tesla. They can run quick calcs on trade in value for you. Selling privately might get you a few penny's more.
If you want to know about Tesla values after warranty, look at model s prices. There's loads of older high mileage cars to help take out some of the guesswork.
@@EwanM11 Correct. I have done so. I was at the Tesla dealership in FIfe Washington and they said mileage/battery age plays a big role in the resale price. BTW we just started our free test of Full Self Driving. After about 100 miles of driving county roads, freeways I like it but had to intervene a few times and my wife does not feel it is ready as the speed varied 10 mph for no apparent reason despite setting the limit when engaged. A bicycle rider caused the car to veer into the oncoming lane, a lane with a car in it and I had to quickly grab the wheel and force the car back into our lane to avoid hitting the oncoming vehicle! The other issue was cars with turn signals on trying to change lanes in front of our Tesla we had to turn off FSD as it would not slow down to allow them to change lanes. It ignored the turn signal. FSD is about 95% but we would rather use autopilot over FSD. I might pay for a month of FSD on a long road trip, as my son in law did for his Y. FSD is polite and moves over to allow faster cars to pass but is not intuitive on complying with other drivers requests, feels a bit road rage prone......I'm not slowing down!
It's good you are calling these out. But it was ridiculous to me that I was quoted tire repair to fix punctures at 120 per tire here in IL. THATS STUPID!
I thought I would own my 2022 Model 3 LR forever. Then they announced the new Performance model which comes in thousands less than I paid for my '22 Model 3, so....... It's trade-in time.
@@1duncanjohnston I test drove the MYP and after flooring it a few times, it got old. It’s kinda a 1-trick pony. It’s just the 0-60 that is what it does well. Aside from that, not much else really usable. At least for those of us that have a dedicated sports car. I would highly suggest test driving the MYP before getting rid of your current one.
Tesla gives a 8 years or 100,000 miles warranty on the model 3. Be shure that the battery on average lasts a lot longer, as calculating it just on the edge would cause a lot of expensive replavements under warranty. A Tesla model S in germany from 2013 has made 1,3M miles. It had several batteries. The first one's with 2013 battery tech lasted 180.000miles, the second one 156.000miles. But the third one, with better 2016 tech, lasted 425.000miles. Remember, that is a 450HP car. The current is 320.000miles. The first batteries where replaced under warranty, which was better back then. He paid for the last himself, it cost $22.000. That is about 5,1cent/Mile battery wear cost, which is ridicculously low. The smaller Model 3 battery is about $16.000 several Model 3 reached >375.000miles, so that's 4,2cent/mile battery cost. But most people will not even reach 200.000miles.
Didn't mention anything about timing for charging the car, which should be taken into consideration for the ones that don't own a home charging station. Hours/time will probably add a lot of it. Time is money, they said.
Look, I don't mind a video discussing the pros/cons, but don't lie. The math isn't anywhere close to "20k" in gas savings. Regular (not premium) as there are plenty of luxury cars that run on regular, fluctuated between 2 and 4 dollars between 2017 and now, for a rough average of around 3/gal. 3/gal at a mixed used of 27 mpg (which again, there are plenty of lux cars that exceed that) the gas usage would have been 17,300. Then subtract out "charging" for a realized savings of 14k. Even using premium it would have raised the raw "gas cost" from 17.x to 20.x as a rough estimate at 27mpg. So, this is definitely cherrypicking to skew the results. I'm not against the 3, I am actually considering one for a commuter, but be honest.
I bought a Tesla model Y last year and keep all stats. The $.08/kw cost to charge doesn't add up. I'm not sure what state he's in but in IL with a discounted plan the cheapest seasonal rate I've paid is $.13 and $.16 on the higher side. My annual gas savings compared to my Audi Q7 w/17 mpg and premium gas are about $1000 for 8 miles. If you compare it to an efficient car or hybrid those would be significantly less. My charging is mostly at home and if it was public charging then the savings would disappear as rates double or triple in cost. I bought it because I love the concept and it's a cool fast car. It definitely doesn't fit every budget or purpose.
@@parastheoneI live in West Michigan where my electric is $0.085. My utility is an owned by the city I live in and therefore is profit free. They simply cover their own costs. On a nice day I can easily get 4 miles per kW/hr, costing me then 2-3 cents per mile. I bought a M3 but was driving a Honda Civic before hand. If you average 35mpg and gas is $3.50, you’re paying 10 cents per mile. On the highway I could get 40mpg, so I’d be paying more like 8-9c/mile. So basically, my M3 is about 3-5x less expensive in fuel costs than a Civic.
Yeah those gas savings he mentioned don't really make sense. Most compact economy non-hybrid vehicles that are similar in size to the Model 3 are averaging about 29 mpg. I think he's using the Tesla app which I wouldn't really rely on 😂. Obviously the Tesla app is gonna say he saved a boat load. I drive about 20k per year, the Model 3 is costing me about $0.06 per mile. Using a non-hybrid with 29mpg avg it would cost me about $0.17 per mile. At best I think he saved about 13-14k in fuel savings.
If you live in California like me it probably sounds like a understatement 😭 4.20 per gallon was the cheapest I seen in the last 2-3 years I wish I was lying
Insane costs, I still have my 2013 Ford C-Max PHEV that I purchased for $16K back in 2015. I have 145K miles on it, Its battery has degraded by 35% but I only charge it at work for free. I've had no major problems, and only needed new breaks once do to its great regenerative breaking, Oil changes are only every 10k miles and other general maintenance has been under 2k for the last 8 years. I spent $700 to update the sync system to version 3 so I could have Android auto on it. It's simply the best car I have ever owned, and it will keep going for years to come I hope. I can't imagine spending all the money an a pure EV and have its battery range degraded 30% or so over the years and have to deal with all the other BS of charging. That's why I never plan on getting one until the batteries last longer or charger faster.
Is that charging cost really believable? I have a quote from my utility for an EV rate plan and the per kwh cost is just over 4(four) times that. The EA chargers are only 7 cents more and the Tesla chargers 20 cents more. It is still cheaper than gas in cents/mile, barely.
@@Trust_but_Verify Yeah, I'm patiently watching and waiting to see how things are going to pan out. EV's have so much sketch to them because the government has their dirty hands in so many markets! Makes it so hard to predict. Also considerinng the Hyundai Ioniq 5 N but it's actually pricier than the TM3P.
@@georgevigil7001 What sketch? I haven't considered any other EV besides Tesla because they have had long experience. Ioniq 5 has expensive coolant flush every 3 years.
andy, how much has the battery degraded in the 144k+ and 6 years that you've owned the car?...and have you always charged the car to 100%, or only to 80% to extend the battery life? I'm really wanting to buy a Model 3 ( it will probably be pre-owned), but I'm nervous about having to replace the battery! Thanks.
I drove a 2016 Model S for 8 years/113,000 miles- battery degraded only 5%. I charged mostly 20-80%. Loved the car- looked like new. I wanted a smaller car, so Tesla transferred free supercharging to 2024 Model 3 for short time- I got the standard range battery- different kind- recommended to charge 100%-270 miles. Would never buy another car- we have owned 4 Teslas and love them. Tires and wipers only maintenance. No brakes after all those miles. Fun to drive, safe..... hope this helps
6 years of your driving experience does not equate to 10 years of typical miles ownership. Your real experience is $75,000 / 6 years = $12,500/year or $1,041.67 per month to own and drive the Tesla. The manufacturing process of a Tesla Model 3 battery can emit between 3 and 16 tons of carbon dioxide (CO2). Obtaining the necessary minerals to produce a single 1,000 lb EV battery involves mining, moving and processing 500,000 lbs of raw materials. While I really want an electric vehicle, (Rivian to be specific) My ICE engine is better for the environment.
Extended warranties are a scam. There have been dozens of reports on them. They don't usually cover what you would expect and the contracts are full of exceptions to coverage. Don't buy them unless you want to be ripped off. Another thing, for most of us, a car is transportation not a status symbol. You don't have to buy a $60,000 car unless you want to buy an EV. Comparing a Tesla 3 to an expensive import car is misleading the public. I bought a Toyota Camry and used it for 14 years and 240,000 miles. I sold it after that and got back some of the cost. Not much because cars with 240,000 miles do depreciate. I believe the cost was around 20,000 or so when I bought it. Also the maintenance on this car was minimal. Just oil changes, tires, etc. No major expenses. If you like buying fancy cars then by all means buy a lamborgini, Mercedes, Tesla, etc. I will pass on that. Also don't buy new cars every three years like a good friend of mine does.
You neglected to factor in depreciation. You say you will keep the car forever? When someone else totals your Tesla, add the value of the insurance payout which is current market value. Do the same thing with a wrecked Camry hybrid,. The Camry will hold the value a lot better with an insurance payout that is a much bigger percentage of the original cost than a very depreciated Tesla.
Video addresses "cost after 6 years", not potential future cost. Depreciation is irrelevant until you sell it or in your scenario are forced out of it. To each his own, but I'm not going to base my car buying decisions on the assumption that someone is going to total my car.
@@brianmills4891 Depreciation already occurred in the 6 years. When someone totals you, you are forced out of the Tesla. You have no choice in the matter. You are simply keeping your head in the sand by pretending depreciation hasn't already happened.
Sorry, but when you compare purchase and driving costs with a $30,000 50+mpg Prius, the cost differences become negligible and you don't have to worry about power outages, floods, or cross country travel. NO SALE.
These are 50yr old international combustion engine that are still up and running to date... question is if Tesla was to last 50yrs how many times will you have changed the battery? That would be a good long run comparison
Great video. This is exactly what the ICE car owners are missing. The more you drive, the bigger the savings. Other saving includes not having to go to gas station, esp Costco.
@@DerekDavis213 Not when we charge at home. We drive in and plug in. Takes all of 5 seconds and we aren't standing in the rain, sun, heat or cold. Note that he charges at home 94% of the time. How often do you charge overnight at home while you are sleeping?
@DerekDavis213 My Tesla has about 300 miles of range and I spent less than 20 seconds per week to charge it and I am pendling to and from work and have some trips on the weekend as well. I am using 325 kWh per month, now you can calculate my cost (off peak charging) for my 1100 miles, and no engine service, big advantage over Camry
Lots of videos of EV owners spending hrs at charging stations which they could have spend working overtime at work making money instead of charging a car. People usually go spend money to go eat while their car is charging.
Sorry about your scrape up on your driver's side rear quarter panel. It looks like an easy uncomplicated bodyshop repair. I have been driving Honda's and Toyota's that are over 17 years old and if I try let my insurance company handle my repairs of a minor fender bender, they just total my vehicle and then double my insurance rates. So, I take my vehicles to a local hundred-year-old German-owned body-shop, in Northern Kentucky, and pay for body repairs out-of-pocket and they make it very reasonable.
I watched your video from a year ago. You compared your Tesla to a Camry in that video, and you used $0.10/kwh for your calculations. It seems disingenuous. If you’re going to use the most favorable rate for kWh in calculations, you should use the most favorable gas cost, which was less than $2 in 2018-2020. Also, it would be interesting to hear how selling the cars adjusts the equation. How does 6 year depreciation compare between the model 3 and either the Camry or the BMW ?
Most of us buy cars that run on regular petrol, even some higher end models. I'd never put a Tesla Model 3 in the same "class" at that BMW, so maybe take the comparison down a notch or two.
Well, now you have an independent house and you can charge it. But what will happen if the people living in the building charge electricity at fast charging stations? How much money will they spend? $11,000 or so ? Now is the time to tempt people into electric cars. If there are more electric cars, the prices will increase
There are no savings to be had with electric. First off the startup cost is much higher but you also have to get a charging station for your house. For the same money you can get an internal combustion car that is just as good for way, way way less. From this alone you will never make up the money for not paying for fuel. The maintenance related to internal combustion isn't much its oil change, and the rare differential and fluid changes every few years. One hidden cost is repairs because electric vehicles are VERY unreliable the best being the Model 3 which is about as dependable as your typical domestic so if you think Chevy or Ford are good you'll love the (un) reliability of the Tesla. Other brands fared much worse and are amongst the most unreliable cars on the market. Once the bumper to bumper warranty expires (not powertrain) this is a problem because many things cannot be fixed by your local or shade tree mechanic. Because it doesn't pollute there is no requirement to have OBD-2 communication so the diagnostics and repair is proprietary. Extended warranties are a scam. You pay up front but the company knows what the repair costs will be and distributes the risk across the board. You would be better served taking that money and investing it in the stock market. Just like the Casino if it didn't make money (in other words upcharge the customer losing THEM money) then these products wouldn't exist. LEt s not even get into powertrain failures. Fine there is a warranty on battery just long enough so that it will likely fail after the warranty expires which is past 6-8 years and just beyond your testing timeline. Its 14k to get a new battery on a 6-8 year old car. This pays for a lot of fuel and oil changes. I knew six people with EV's. The three that love them are very wealthy and childless with lots of money and time. The other three with families also wealthy but ran away screaming not just for short range/long charge times (long trips, sports w/ family/kids are awful) but also reliability issues and cost to fix. Not ready for prime time.
I want to know, Why did your fender get chipped if you spent (wasted) $1800 on a PPF Why did you need to replace your windshield twice? you kind of brushed that off. do you expect every tesla owner will need to replace their windshield repeatedly? If i bought a used tesla and did not have a warranty how much would I spend on such a job?
I have 95% battery health after 144K miles according to my Recurrent report: www.recurrentauto.com Estimated range loss = 5% (310 miles of range in 2018: 295 miles of range in 2024)
@@Resist4 Welcome to 2024. Time to give up on your anti-EV disinformation myth. Andy's results are constant with the battery data gathered from thousands of similar EV's.
@@Tom-dt4ic I've probably been driving EV's longer than you, so I'm not about disinformation. I'm about facts. You have to remember that Andy also said in one of his videos a while back that his battery health was at 100%. That proved to be incorrect by many other sources that discovered an error in the calculation.
Hmmm. Let's see. After nearly 6 years and 78,174 miles, my Model 3 cost me $69,260.36, including purchase price, Supercharging, accessories, repairs, insurance, registration, etc. At least I saved $20,927 by charging it at home with rooftop solar.
Yeah I think Teslas are great for people that just drive from point A to point B. But not good for car enthusiasts. I think the model 3 performance might be good enough for car enthusiasts. Hopefully!
Sponsored: Click here to find the right coverage for your vehicle. Use referral code "SLYE10" to get 10% off all AmberCare coverage plans: www.getamber.com/?Andy
the fact 2018 is 6 years ago..... time is flying.
please dont say this out loud
Only gets faster my young friend.
I own a red 2021 Model 3 Dual motor long range. There were several Tesla “talking heads” who helped me make up my mind to buy my car. You were the Most influential of the bunch. Thanks!
I’m not an EV but for the 1st time, I’m considering the 24 Model 3 performance. I can’t even believe I’m typing this 😂.
@@georgevigil7001 Ask for the insurance cost first so there is no surprise.
@@georgevigil7001 The 24 model seems incredible. Finally makes me want to buy one for myself now that the $7.5k tax credit applies to it.
@@georgevigil7001same bro lol
No one out here talking about depreciation. Buy 2 years used and save a bundle.
As a 2019 Perfomance tm3 owner who is trying to sell theirs now.... we don't talk about it because of how much it stings :') Buy car for 60K try to get 20K
@@VolpeMReuling sorry to hear that
When I drove a gas car the periodic maintenance was performed every 3 or 4 months (depending on the miles) and cost $350 per visit, over $1000 per year. Since purchasing my electric car my maintenance costs are now in line with yours. A tremendous saving.
In the real world, you can change the oil a couple times a year at Jiffy lube and spend maybe $200 bucks a year on other maintenance like fluids and filters and wipers, etc. for the first 5 or 6 years if you buy a good Japanese ICE or HEV car.
You do NOT have to do those ridiculous expensive maintenance intervals at the dealer.
@@rogergeyer9851 …That’s true, however, for warranty purposes it is better to have documentation of service performed by an authorized mechanic because if anything does go wrong the car maker will find a way to make the customer pay full price. Also, when tires are excluded I have paid 0$ for maintenance on my Leaf after almost three years. To me that is a huge benefit.
@@rogergeyer9851 and you lose the warranty
@@rogergeyer9851as a mechanic, an idiot with a basic harbour freight tool set can maintain their vehicle, it’s no different than learning that money works best in a s and p 500 rather than your .5% savings account, you tube = unlimited information, no excuses for people that say, I can’t do it
@@rogergeyer9851
But can any petrol car have autopilot or self-driving features? When it comes to tech, most manufacturers are at least 10 years behind. That’s why, like myself, I would go for a Tesla - they’re simply leading the way with advanced technology.
I have free charging at work and I car pool with coworkers and one person I pick up on carpooling app. My 2 coworkers pay me $50 a week and the other person $12 per day. I used to drive to work in my Toyota Tacoma paying around $100-$120 a week. The money that I was paying for gas in my Tesla model 3 payment plus insurance and some left over for any extra expenditures in the future. I have only paid for charging on road trips.
see the thing is free charging at work is very temporary. as these things get more popular you are not going to be able to get that free charging anymore. plus if you are living anywhere in california electricity cost even when charging at home is close to 0.4 per kwh, no where close to 0.08 that this guy is getting. so long term i dont see how electric cars are going to be any different from gas cars, especially for someone getting a car right now.
@@nightwing8666 yeah it could happen but they have planned to add more charging stations and solar panels but we have it good here.
The main problem people worry about that is one of the biggest issues is having to replace the battery outside of warranty. That can run people over 10k and that can be a big reason why people hesitate to switch to a Tesla car.
I'm curious, has anyone needed that for a Tesla under normal usage?
Suggestion: move the charging port out of the garage and into the driveway. The battery is aging and the risk of a lithium fire increases with every charge! Then, if the fire burns up the car, at least it won't burn up your house.
Your financial analysis did not include either vehicle depreciation or battery replacement amortization.
Back in 2018 I bought a used 2012 Toyota Prius V with 28,000 miles on it for $14,000. Now I've got 133,000 miles on it & total cost have been $29,000 over the same 6 years of ownership. It's running great, & will more than likely run past 300,000 miles. I've hauled water heaters, furnaces, air conditioners, etc. all while getting over 40 MPG with over a 400 mile range, summer or winter. Love it. I think there will be a lot more hybrids in the future because there are no sacrifices owning one.
Hi Andy. As someone that grew up in Kentucky and graduated from U of L, I have watched your podcasts from day 1. All my best to you. I have done a lot of traveling since then as I kept traveling west to California then to Hong Kong and after retiring to Portugal. I am now over 80 and in great health.😢
What happened with the low battery health rating you got when you tested it?
Great video, but the breakdown cost feels a bit incomplete.
We should also put car resale value in the equation. Let's say the current value of the 2018 Tesla model 3 would be $17000
So, total out of pocket cost for 6 Years ownership with 144k miles would be: 75175-17000= $58175
Cost per year - $9696
Cost per mile - $0.40 (the most indicative data)
Cost per mile with the BMW mentioned in video could be easily $0.60 which is 50% more compared to Tesla.
hope to hear an answer :
what about the battery degradation ?
how it is after all this time & distance ?
thanks !
good roads to have, I wish you !
I have a 2018 LR, 82k miles. Didn't use the official battery health check but seems to be within the tolerance range. Maybe 10% off. I only need to charge to 80% daily, on trip to 90%. Tesla has warranty to 70% for 120k miles/8 years.
Damn, this guy made a whole review just to tell us about our cars extended warrenty.
What state is giving you $0.08 a kilowatt? And are you factoring in taxes and fees because that's the real cost per kilowatt. Sounds too good to be true. I see public charging stations charging $0.40-$0.70 per kilowatt in NYC Tri-State Area. We're in Central NJ and we pay $0.16 per kilowatt that's with taxes and fees.
In Georgia, I'm paying about 12 cents a kilowatt, not on an EV plan, but my city has free 6.7 and 62.5 kilowatt chargers available
I live in the same city as he does. And yes it is $0.08/kw. I drive a 2015 Leaf, and pay probably $10 or so a month to drive and charge daily. State is Kentucky btw.
I bought a comparable Mitsubishi lancer new 13 years ago, full leather interior with a ten year manufacturers warranty. It cost 27,000 CDN new. I have come NO where near $75,000 total cost of ownership yet. Including fuel, tires, two gas trunk lid openers and one steering control bar replacement. But then again, I live in a walkable city where I don’t need to drive if I don’t want to. And I usually don’t drive. A tremendous savings over a new electric car.
What's your mileage on it? If you drove 144k miles, the difference would probably change
@@Indi3vidual also the drivability of a lancer is not comparable to the fun of driving a model 3
This defies every other video I've seen regarding EV costs. BTW I own a BMW 5 series and I fill it on regular gas and haven't had a problem with the car in the 10 years I've owned it.
When the manual recommends premium and what most BMW drivers fills in, you filling with regular gas doesn't mean that's the norm.
I owned plenty of BMWs at most I'd fill occasionally is Plus (never regular). If I see any cost comparison I want to see it compared with premium gasoline price.
That'd be like telling people one gets 40mpg because one drives at 55mph on highways.
They never mention previous TIME wasted charging outside homes and stress it causes. Also they don’t mention cold weather and other conditions that make them useless.
@@georgiaguardian4696 I saved previous TIME by not needing to go to gas stations and service centers for various of maintenance. Cold weather hasn't affected my usage of car.
@@Trust_but_Verify I can always plan for car maintenance whenever I want to while doing other things the same trip. You are forced to stop by charging stations whenever you take longer trips. And not everyone has
Fast home charging either. EVs still have more restrictions for most people. That’s why most people still refuse EVs.
@@georgiaguardian4696 ...what? You don't wait for your car to be serviced? Why are you lying? You're real productive at gas stations?
Thanks for the nice video ! What is the condition of the battery after 144,000 miles ? When will it need to be replaced and how much will THAT cost ?
There is no set in time that the battery needs to be replaced. It could run to 250k+ miles.
The battery packs last from 300,000 to 500,000 miles. Replacement cost is about 13,000.
My 5.5 years Model 3 91k miles haven't had as many issue you encountered. Replaced the charging door and passenger seat sensor (wrap insulation) under warranty. 12v battery was replaced after 4.5 years. Yes I switched from BMW SUV.
2019 Model 3s were vastly better than 2018 or 2017 versions.
as you increase the mileage on the car , the numbers become even more favorable.
in fairness, you should add 10-15% to the energy used to account for charging losses, that you pay for anyway. Besides, I believe the reported energy used by Tesla doesn't take into account for climatization energy used
He already added the huge cost of establishing charger that was a 1 time expense so that offsets it
@@bondnikunj Dear, it has nothing to do with charger cost. When you charge a battery, there are resistive losses, that is of 100kWh an outlet delivers, only 85-95kWh will actually get stored into the battery. And the M3 keeps count only of the latter, while you pay for the former
@@USUG0 yup I got that part. I was trying to say he already added huge extra cost so that will equilibriate any losses incurred during charging.
@@bondnikunj no logic in your claim.
I had to replace my front arm bushings at 30k miles. I went with upgraded solid mount bushings from mountain pass performance and it made the steering tighter and they will last forever.
Great video ! Many of the costs could have been much lower but still a great illustration of the cost savings. Now imagine if you bought a used Model 3 for 15k and charged it on some 35 dollar solar panels. That said the total cost of ownership seen @9:05 is why Tranportation as a service will crush individual car ownership in urban areas.
What sort of solar panels can you get for $35 probably take months if not years to charge a car up.
@@chrishart8548 Locally I can get used 240's for 35 and online for minimal shipping you can get used 290's for 43 dollars.
@@chrishart8548 Maybe a 1,000 of them...
8 cents per kwh😮
In derbyshire in the uk 🇬🇧
We are paying 25p (31 cents) for our home charging
Lately I've been salivating over buying a new Model 3 but your "total costs" scenario has me rethinking everything including your insurance premium. (and I emphasize the word premium.) You make owning a Model 3 sound like it's not for the faint of heart.
so i bought a 2011 jeep liberty in 2016 for $1,300. had it in the shop a few times for oil pan, trans pan, waterpump, brakes, brakes again, one set tires that were $100 each. One battery couple years ago. Still going strong even thou I complain about money spent on it. Oh and full coverage insurance is $310 for 6 months. Now what about that, no matter how much gas I use, at least I don't have to worry about it going dead in the middle of nowhere and gas stations are everywhere and only take 5 minutes to fill up
Yeah sounds like you’re on struggle street.
Wow, you have over 98k more miles than I have on my 2018 M3. Of course, working at home since March of 2020 is the biggest reason why I have only 46k miles on my M3. Nice breakdown video. 👍
What was the upfront cost of the BMW 3 Series car you mentioned? Curious.
How much battery efficiency did you lose after that much miles/6 years?
Probably none at all that's noticeable. Between hot and cold weather it changes the range a lot .
He said it retained 94% after 5 years in another vid. Another data point would be nice.
That 14-50 outlet hasn’t given you any trouble with overheating or anything?
I have the exact same but in a 10-30 and my plan is to get the Tesla 10-30 adapter
Thanks for the recap. Btw, some of that free SC credit you received is when I used your referral code back in early 2019. Andy, you mentioned you4 insurance around $100 /mo. What insurance company is that and in what State? Thanks.
You missed windshield wiper fluid and also you missed to factor in the charging loss, which is usually around 10%. Also: Did you never preheat your Tesla? 🤔
If you drive lots, especially city driving, it makes a ton of sense to buy an EV. I drive about 5500 miles a year (9K km). A nice but less expensive gasoline car (VW GTI) does it for me. I ran the math and the savings just aren't there in my case. If I still lived in a big city with a long commute, I'd probably have gotten a model 3 and been quite happy
Same here because I work from home so no gas savings for me which is why I’m struggling to buy an EV right now. The value proposition isn’t there.
Plus my car gets 30-35MPG. Ford Fiesta ST.
Good for you, I also advocate EV only for long range drivers, 12k+ miles a year to get the operational/maintenace savings.
We almost bought a Tesla used model Y for 28k that had 49k miles. Our payment would have been 210$ a month but.. CA had a spike in insurance and it would have cost us 750 a month for insurance alone. If we subtract our other car, it would be about 650 per mont. :(. It don't help that a person in my insurance has a at fault accident that expires in 5 months so that could factor in. We will try again after the 5th month.
Good price on a y. If u find one for 25k you maybe able to get used car ev tax credit
I like the idea of the Model 3, but long term reliability and quality has me worried. Currently drive a Civic that we have owned for 10 years. Nothing has broken on it. Maintenance costs have been minimal, and it feels like it will go another 10 years and 100k miles no problem. All the fiddly little problems your Mode 3 has had are concerning. I know yours is an early car, so I’m hoping the 2024s have much better quality. What is a better buy for someone who wants to keep their car for 15 years? A Model 3 or something like a Civic Hybrid?
Tesla is still relatively new to the automotive industry. Hybrids are tried and true technology. You are gambling with Tesla, when everyone knows for a fact that Honda’s & Toyota’s will last 300k+ miles when properly maintained. I would keep a Prius as a backup or daily driver.
I understand the concern about long-term reliability, but Tesla has made significant improvements in quality over the years, especially in the newer models. While early Model 3s did have some issues, the 2024 models are expected to be much better. Also, don’t forget the technology Tesla offers, like over-the-air updates and autopilot, which you won't get with a Civic or Hybrid. If you value tech, innovation, and future-proofing, the Model 3 might be worth the investment for the next 10-15 years.
Glad you posted this. My 12 year old Prius has experienced less than $200 in repairs in 12 years ... total. Gas, oil and tires is all it has required and very little gas.
@@john9852 Doubtful.
The most basic 2020 Prius under the same cost/investment would be less than half of 75K 👀
how many sets of tires have you gone thru?
He said 2 sets and two punctures.
Im considering a 2021, dual range model 3 with 170,000 which would be $13,500 after EV tax credit. Battery health looked great, and overall car looked good. Good or no?
$100 per month for insurance? How ?
2:54 Spray WD40 “silicone” in the joint part of the handle every quarter.
I have a 2006 Scion...and I've never had any problems with my door handles...or any other problems 😁
They can pollute three times as much as a normal lightweight car . The tyres wearing out three times faster means three times asich serious pollution in the streams and rivers and the sea .
Hey mate, thanks for the video. I’ve had my Model 3 for 7 months and absolutely love it.
You didn’t mention anything about your current battery health / degradation. How has that held up?
wtf, it's always negligible.
@@chezchezchezchez what do you mean negligible? 10% degradation is normal for a car that age and that’s not negligible.
Some Teslas more, some less. It’s a valid question and valid thing to consider
People that buy new cars always want new cars...they buy them and sell them within 2 years. The depreciation value is coming into play as EV saturation becomes apparent. Everybody that wants an EV has one. So the demand for used and new EVs have fallen as they are not a rare status symbol any more. New car buyers that want to trade up their cars for newer models are not buying EVs because the depreciation value is too much. Fleet owners are suffering too.
You clearly don't understand depreciation. Depreciation of cars means that your once new, and now older car, is worth less than it was when you first bought it. That can happen because your now used car is falling apart and no one wants it. But in the case of EV's which actually hold up far better than most ICE cars because there are way less moving parts, in the case of EV's they are currently depreciating because the new model EV's are better and cheaper than ever, and so why would anyone want a used EV when you can get a brand new one at a great price. Therefore there’s lack of demand in the used EV market as new EV's dramatically improve and their prices come down. This, by the way, is a temporary phenomenon. In the coming years the EV market will settle out as the technology matures, and as EV makers get better and better at building their EV's at the lowest possible price. It's the same thing that happened in the computer industry a little while back, to name just one. And with smart phones, to name another. In a few more years, its pretty clear that EV’s will actually depreciate far slower than ICE cars.
Tap your brakes, @Tom-dt4ic. That's quite the salty response to the OP on the topic of depreciation. Who know this topic could cause such emotion?!
True, depreciarion can be due to mechanical issues exactly like you said. That's not all though, is it?
Nope. Depreciation happens when an asset's value decreases relative to similar assets on the market. Even a shite colour can devalue a car relative to others out there, EV or not. More importantly, just like the OP said, market saturation is the biggest driver of EV depreciation right now. Just ask Elon whether its happening on new cars or not.
I got a 21 year old vehicle that I drive almost daily. Last year I put 5000 miles out west and back again. In a 30 day period
I have a car that I paid 18k 24 years ago,.
Did I expend 36k in 24 years in order to match the cost of that tesla?
@@JmnZFilms Good luck trying to buy a similar car today for 18k
Great update! Where did you get your radar detector out?
Uniden is the brand he has and is by far the best brand - they sell on Amazon, their website, Best Buy, Sam’s club
I own a model y. I hit my first year milestone in April. At the one year mark I had driven 18,180 miles. I was interested in trading it in for a mode x. So we did the math. My all in cost was $44,000 after rebate and $4300 in fuel savings, add to this the four oil changes and other routine maintenance at $300 per service was another $1200 in savings. Charging with my home charger was $680, and maybe fifty bucks on super charging. So my cost is about $42,000 and I could trade the car in for $34,000. So i am $8,000 upside down. In two more years of driving equal mileage I'd break even as the car might lose a bit more value but nothing to call a loss in the end. With new car prices falling and resale values solid three years for us is the idea time to buy up. Andy kept his model 3 far too long! And his numbers are nuts. Electric vehicles lose serious value when you hold them that long. His battery is soon toast. Not smart. The car becomes valueless at that age once his batteries fail. They are only warranted to 120,000 miles.
Tesla batteries typically last 300k miles. Most gas cars (I had a Honda and Toyota) fall apart by 200k miles with costly repairs
Current data on Tesla battery life is turning out to be far better than anyone expected. Most batteries are still going strong after 150,000 miles with less than 15 percent battery degradation, much of that typically happening in the first year. (ICE car engines also lose efficiency over time.) And the batteries they’re putting in EV's today are even better, and will no doubt last even longer than their predecessors. In fact, the vast majority of today’s EV batteries will outlast their car.
@@rameshr4395 We are in a world of new car buyers unfamiliar with EV life.. Despite the facts they are not going to pay much for older batteries. The selling point is the warranty. New EV used car shoppers will want to know the car is under warranty. The closer you get exceeding the warranty the value drops fast. Go to Tesla and do an estimated trade in value of a six year old 150,000 mile Tesla. As you add mileage the values start to plummeting. You can ask this of the salesman at Tesla. They can run quick calcs on trade in value for you. Selling privately might get you a few penny's more.
If you want to know about Tesla values after warranty, look at model s prices. There's loads of older high mileage cars to help take out some of the guesswork.
@@EwanM11 Correct. I have done so. I was at the Tesla dealership in FIfe Washington and they said mileage/battery age plays a big role in the resale price. BTW we just started our free test of Full Self Driving. After about 100 miles of driving county roads, freeways I like it but had to intervene a few times and my wife does not feel it is ready as the speed varied 10 mph for no apparent reason despite setting the limit when engaged. A bicycle rider caused the car to veer into the oncoming lane, a lane with a car in it and I had to quickly grab the wheel and force the car back into our lane to avoid hitting the oncoming vehicle! The other issue was cars with turn signals on trying to change lanes in front of our Tesla we had to turn off FSD as it would not slow down to allow them to change lanes. It ignored the turn signal. FSD is about 95% but we would rather use autopilot over FSD. I might pay for a month of FSD on a long road trip, as my son in law did for his Y. FSD is polite and moves over to allow faster cars to pass but is not intuitive on complying with other drivers requests, feels a bit road rage prone......I'm not slowing down!
The trade -in value needs to be taken into consideration, that is also a cost of ownership..ie ...depreciation
I love that radar detector mount. Anyone know where to buy it? Cheers.
Radar detector: geni.us/Uniden
Mount: geni.us/XSPqnN
It's good you are calling these out. But it was ridiculous to me that I was quoted tire repair to fix punctures at 120 per tire here in IL. THATS STUPID!
Isn't that more to the shop's pricing? Normal tire nail patch is $25-$30.
@@Trust_but_Verify yep exactly it's way way over
15$ here in tn
I thought I would own my 2022 Model 3 LR forever. Then they announced the new Performance model which comes in thousands less than I paid for my '22 Model 3, so....... It's trade-in time.
The performance looks awesome with add carbon in rims saying from a car guy likes gas power vehicles put think of getting a ev 😮
I’m considering an EV for the 1st time because of the Model 3 Performance. Can’t event believe I’m typing this 😂
Just like iPhone I replace every 1-2 years
Same here, except I'm looking at Plaids for $60k
@@1duncanjohnston I test drove the MYP and after flooring it a few times, it got old. It’s kinda a 1-trick pony. It’s just the 0-60 that is what it does well. Aside from that, not much else really usable.
At least for those of us that have a dedicated sports car. I would highly suggest test driving the MYP before getting rid of your current one.
What does the future of the battery replacement cost hold for Tesla owners? Is it a bad idea to lease a Tesla vs Finance/buyout?
Tesla gives a 8 years or 100,000 miles warranty on the model 3. Be shure that the battery on average lasts a lot longer, as calculating it just on the edge would cause a lot of expensive replavements under warranty.
A Tesla model S in germany from 2013 has made 1,3M miles. It had several batteries. The first one's with 2013 battery tech lasted 180.000miles, the second one 156.000miles. But the third one, with better 2016 tech, lasted 425.000miles. Remember, that is a 450HP car. The current is 320.000miles.
The first batteries where replaced under warranty, which was better back then. He paid for the last himself, it cost $22.000. That is about 5,1cent/Mile battery wear cost, which is ridicculously low.
The smaller Model 3 battery is about $16.000 several Model 3 reached >375.000miles, so that's 4,2cent/mile battery cost.
But most people will not even reach 200.000miles.
Didn't mention anything about timing for charging the car, which should be taken into consideration for the ones that don't own a home charging station. Hours/time will probably add a lot of it. Time is money, they said.
Depreciation is the biggest cost. They depreciate rapidly, especially when the battery warranty expires
If I click on your link - does TESLA still give me supercharging credits? when I purchase a Tesla? Or is that offer expired?
Sadly it’s expired
They have indefinitely ended the referral program, but it's supposedly coming back in the future. We just don't know when :(
Look, I don't mind a video discussing the pros/cons, but don't lie. The math isn't anywhere close to "20k" in gas savings. Regular (not premium) as there are plenty of luxury cars that run on regular, fluctuated between 2 and 4 dollars between 2017 and now, for a rough average of around 3/gal. 3/gal at a mixed used of 27 mpg (which again, there are plenty of lux cars that exceed that) the gas usage would have been 17,300. Then subtract out "charging" for a realized savings of 14k. Even using premium it would have raised the raw "gas cost" from 17.x to 20.x as a rough estimate at 27mpg. So, this is definitely cherrypicking to skew the results. I'm not against the 3, I am actually considering one for a commuter, but be honest.
I bought a Tesla model Y last year and keep all stats. The $.08/kw cost to charge doesn't add up. I'm not sure what state he's in but in IL with a discounted plan the cheapest seasonal rate I've paid is $.13 and $.16 on the higher side.
My annual gas savings compared to my Audi Q7 w/17 mpg and premium gas are about $1000 for 8 miles. If you compare it to an efficient car or hybrid those would be significantly less. My charging is mostly at home and if it was public charging then the savings would disappear as rates double or triple in cost.
I bought it because I love the concept and it's a cool fast car.
It definitely doesn't fit every budget or purpose.
@@parastheoneI live in West Michigan where my electric is $0.085. My utility is an owned by the city I live in and therefore is profit free. They simply cover their own costs. On a nice day I can easily get 4 miles per kW/hr, costing me then 2-3 cents per mile.
I bought a M3 but was driving a Honda Civic before hand. If you average 35mpg and gas is $3.50, you’re paying 10 cents per mile. On the highway I could get 40mpg, so I’d be paying more like 8-9c/mile.
So basically, my M3 is about 3-5x less expensive in fuel costs than a Civic.
Yeah those gas savings he mentioned don't really make sense. Most compact economy non-hybrid vehicles that are similar in size to the Model 3 are averaging about 29 mpg. I think he's using the Tesla app which I wouldn't really rely on 😂. Obviously the Tesla app is gonna say he saved a boat load. I drive about 20k per year, the Model 3 is costing me about $0.06 per mile. Using a non-hybrid with 29mpg avg it would cost me about $0.17 per mile. At best I think he saved about 13-14k in fuel savings.
Ikr? I feel like he is lying lol
If you live in California like me it probably sounds like a understatement
😭 4.20 per gallon was the cheapest I seen in the last 2-3 years I wish I was lying
Insane costs, I still have my 2013 Ford C-Max PHEV that I purchased for $16K back in 2015. I have 145K miles on it, Its battery has degraded by 35% but I only charge it at work for free. I've had no major problems, and only needed new breaks once do to its great regenerative breaking, Oil changes are only every 10k miles and other general maintenance has been under 2k for the last 8 years. I spent $700 to update the sync system to version 3 so I could have Android auto on it. It's simply the best car I have ever owned, and it will keep going for years to come I hope. I can't imagine spending all the money an a pure EV and have its battery range degraded 30% or so over the years and have to deal with all the other BS of charging. That's why I never plan on getting one until the batteries last longer or charger faster.
I what type of electricity do you have coal / nuclear / petrol ?
Is that charging cost really believable? I have a quote from my utility for an EV rate plan and the per kwh cost is just over 4(four) times that. The EA chargers are only 7 cents more and the Tesla chargers 20 cents more. It is still cheaper than gas in cents/mile, barely.
As a fellow KY resident, we do, in fact, pay about 8 cent a kWh.
Once the general public is on EVs the bait and switch will occur and the cost of electricity will SKYROCKET
@@georgevigil7001 You better not buy that Performance Model 3 then!
@@Trust_but_Verify Yeah, I'm patiently watching and waiting to see how things are going to pan out. EV's have so much sketch to them because the government has their dirty hands in so many markets! Makes it so hard to predict. Also considerinng the Hyundai Ioniq 5 N but it's actually pricier than the TM3P.
@@georgevigil7001 What sketch? I haven't considered any other EV besides Tesla because they have had long experience. Ioniq 5 has expensive coolant flush every 3 years.
andy, how much has the battery degraded in the 144k+ and 6 years that you've owned the car?...and have you always charged the car to 100%, or only to 80% to extend the battery life? I'm really wanting to buy a Model 3 ( it will probably be pre-owned), but I'm nervous about having to replace the battery! Thanks.
I drove a 2016 Model S for 8 years/113,000 miles- battery degraded only 5%. I charged mostly 20-80%. Loved the car- looked like new. I wanted a smaller car, so Tesla transferred free supercharging to 2024 Model 3 for short time- I got the standard range battery- different kind- recommended to charge 100%-270 miles. Would never buy another car- we have owned 4 Teslas and love them. Tires and wipers only maintenance. No brakes after all those miles. Fun to drive, safe..... hope this helps
I've had impressive battery health so far. Recurrent has my range score at 98 with estimated 294-297 miles on 100% charge: www.recurrentauto.com
6 years of your driving experience does not equate to 10 years of typical miles ownership. Your real experience is $75,000 / 6 years = $12,500/year or $1,041.67 per month to own and drive the Tesla.
The manufacturing process of a Tesla Model 3 battery can emit between 3 and 16 tons of carbon dioxide (CO2).
Obtaining the necessary minerals to produce a single 1,000 lb EV battery involves mining, moving and processing 500,000 lbs of raw materials.
While I really want an electric vehicle, (Rivian to be specific) My ICE engine is better for the environment.
Extended warranties are a scam. There have been dozens of reports on them. They don't usually cover what you would expect and the contracts are full of exceptions to coverage. Don't buy them unless you want to be ripped off.
Another thing, for most of us, a car is transportation not a status symbol. You don't have to buy a $60,000 car unless you want to buy an EV. Comparing a Tesla 3 to an expensive import car is misleading the public. I bought a Toyota Camry and used it for 14 years and 240,000 miles. I sold it after that and got back some of the cost. Not much because cars with 240,000 miles do depreciate. I believe the cost was around 20,000 or so when I bought it. Also the maintenance on this car was minimal. Just oil changes, tires, etc. No major expenses.
If you like buying fancy cars then by all means buy a lamborgini, Mercedes, Tesla, etc. I will pass on that. Also don't buy new cars every three years like a good friend of mine does.
Have to pay yearly registration cost? didn't know that is a thing in canada we just pay the insurance monthly and that is it
How about comparing it with Prius prime
You neglected to factor in depreciation. You say you will keep the car forever? When someone else totals your Tesla, add the value of the insurance payout which is current market value. Do the same thing with a wrecked Camry hybrid,. The Camry will hold the value a lot better with an insurance payout that is a much bigger percentage of the original cost than a very depreciated Tesla.
Very very true, but buying a new Tesla wont solve this issue since he will have to pay for yet another round of extremely fast depreciation.
Why does it matter if I can get a used one for the depreciated value the insurance company gives you?
Yeah but you still have to drive a Camry…
Video addresses "cost after 6 years", not potential future cost. Depreciation is irrelevant until you sell it or in your scenario are forced out of it. To each his own, but I'm not going to base my car buying decisions on the assumption that someone is going to total my car.
@@brianmills4891 Depreciation already occurred in the 6 years. When someone totals you, you are forced out of the Tesla. You have no choice in the matter. You are simply keeping your head in the sand by pretending depreciation hasn't already happened.
Model 3 2022 long range with 144k miles for $15k is it worth it?
Same model 2021 with 111k miles $16k
Sheesh Andy, I felt like you were rushing through this video lol
You were talking so fast. But dope video
str8 to the point no fluff, thank you
Andy nice video glade holding in and performing well
I'll wait for your "Tesla Model 3 Total Cost After 10 Years: The TRUTH" video...
Don’t they have registration plates in the us ??
I just bought a 2019 model and its the best car i have ever driven
Sorry, but when you compare purchase and driving costs with a $30,000 50+mpg Prius, the cost differences become negligible and you don't have to worry about power outages, floods, or cross country travel. NO SALE.
My one issue has been cabin noises when I’m over 75mph.
Any advices?
Yes, drive slow😂
@@michaelcrz1430 that’s one solution, lol
Camry is quiet when going 75.
@@DerekDavis213 Makes perfect sense, a whisper quiet ICE engine at 75, quieter than an electric engine. What planet are you from?
@@michaelcrz1430 lol
add 50% more for tyres
No wheel alignments?
These are 50yr old international combustion engine that are still up and running to date... question is if Tesla was to last 50yrs how many times will you have changed the battery? That would be a good long run comparison
Add distribution harbor another $0.08 . So charging coast goes X2
Patiently going to wait for a model y 2024 performance with full self driving used.
Great video. This is exactly what the ICE car owners are missing. The more you drive, the bigger the savings. Other saving includes not having to go to gas station, esp Costco.
Camry Hybrid has range of 630 miles, and you can fill the gas tank in 5 minutes. Big advantages over Tesla
@@DerekDavis213I have the luxury to charge my Tesla model 3 for free at work and we have 8 level 2 charging stations.
@@rsxbulma But 100 million Americans rent, instead of owning their homes. They cannot charge at home. And few workplaces offer charging there.
@@DerekDavis213 Not when we charge at home. We drive in and plug in. Takes all of 5 seconds and we aren't standing in the rain, sun, heat or cold. Note that he charges at home 94% of the time. How often do you charge overnight at home while you are sleeping?
@DerekDavis213 My Tesla has about 300 miles of range and I spent less than 20 seconds per week to charge it and I am pendling to and from work and have some trips on the weekend as well. I am using 325 kWh per month, now you can calculate my cost (off peak charging) for my 1100 miles, and no engine service, big advantage over Camry
Easily less than half the cost of the most basic Prius for the same situation 👀 (over 35K in savings)
Where do you live? I can’t find anywhere that charges 8 cents per kWh
Your gas is $4.24 … in Los Angeles we are around $5.39
Please do an update after you’ve had to replace the battery.
Don't hold your breath. EV batteries these days will usually outlast their cars. Welcome to 2024!
Good honest review 😊
I’m surprised you didn’t get the aftermarket chrome delete.
No need! wtf
@@chezchezchezchez No need for any of this he could’ve been driving a 96” ford festa
Lots of videos of EV owners spending hrs at charging stations which they could have spend working overtime at work making money instead of charging a car. People usually go spend money to go eat while their car is charging.
Sorry about your scrape up on your driver's side rear quarter panel. It looks like an easy uncomplicated bodyshop repair. I have been driving Honda's and Toyota's that are over 17 years old and if I try let my insurance company handle my repairs of a minor fender bender, they just total my vehicle and then double my insurance rates. So, I take my vehicles to a local hundred-year-old German-owned body-shop, in Northern Kentucky, and pay for body repairs out-of-pocket and they make it very reasonable.
I watched your video from a year ago. You compared your Tesla to a Camry in that video, and you used $0.10/kwh for your calculations. It seems disingenuous. If you’re going to use the most favorable rate for kWh in calculations, you should use the most favorable gas cost, which was less than $2 in 2018-2020.
Also, it would be interesting to hear how selling the cars adjusts the equation. How does 6 year depreciation compare between the model 3 and either the Camry or the BMW ?
You should have compared it to a regular Ice vehicle not one that uses high Octane.
Most of us buy cars that run on regular petrol, even some higher end models. I'd never put a Tesla Model 3 in the same "class" at that BMW, so maybe take the comparison down a notch or two.
Well, now you have an independent house and you can charge it. But what will happen if the people living in the building charge electricity at fast charging stations? How much money will they spend? $11,000 or so ? Now is the time to tempt people into electric cars. If there are more electric cars, the prices will increase
There are no savings to be had with electric. First off the startup cost is much higher but you also have to get a charging station for your house. For the same money you can get an internal combustion car that is just as good for way, way way less. From this alone you will never make up the money for not paying for fuel.
The maintenance related to internal combustion isn't much its oil change, and the rare differential and fluid changes every few years.
One hidden cost is repairs because electric vehicles are VERY unreliable the best being the Model 3 which is about as dependable as your typical domestic so if you think Chevy or Ford are good you'll love the (un) reliability of the Tesla. Other brands fared much worse and are amongst the most unreliable cars on the market. Once the bumper to bumper warranty expires (not powertrain) this is a problem because many things cannot be fixed by your local or shade tree mechanic. Because it doesn't pollute there is no requirement to have OBD-2 communication so the diagnostics and repair is proprietary.
Extended warranties are a scam. You pay up front but the company knows what the repair costs will be and distributes the risk across the board. You would be better served taking that money and investing it in the stock market. Just like the Casino if it didn't make money (in other words upcharge the customer losing THEM money) then these products wouldn't exist.
LEt s not even get into powertrain failures. Fine there is a warranty on battery just long enough so that it will likely fail after the warranty expires which is past 6-8 years and just beyond your testing timeline. Its 14k to get a new battery on a 6-8 year old car.
This pays for a lot of fuel and oil changes. I knew six people with EV's. The three that love them are very wealthy and childless with lots of money and time. The other three with families also wealthy but ran away screaming not just for short range/long charge times (long trips, sports w/ family/kids are awful) but also reliability issues and cost to fix. Not ready for prime time.
I want to know, Why did your fender get chipped if you spent (wasted) $1800 on a PPF
Why did you need to replace your windshield twice? you kind of brushed that off. do you expect every tesla owner will need to replace their windshield repeatedly? If i bought a used tesla and did not have a warranty how much would I spend on such a job?
Why no mention of range/battery degradation?
You never frikken looked under your car after the noise started? You could have removed that stick yourself.
Hell yes! Anytime there's a scraping sound, look to see where it's coming from.
Great update. The car still looks great. Could you share a link to the suction cup mouth that you used to mount your radar detector?
Radar detector: geni.us/Uniden
Mount: geni.us/XSPqnN
Great content 👍 Will Amber Care be available outside US at some point ?
What's battery degradation on 144k miles?
I have 95% battery health after 144K miles according to my Recurrent report: www.recurrentauto.com
Estimated range loss = 5% (310 miles of range in 2018: 295 miles of range in 2024)
@@aslye No way it still has 95% battery health at 6 years and 144k miles.
@@Resist4 Welcome to 2024. Time to give up on your anti-EV disinformation myth. Andy's results are constant with the battery data gathered from thousands of similar EV's.
@@Tom-dt4ic I've probably been driving EV's longer than you, so I'm not about disinformation. I'm about facts. You have to remember that Andy also said in one of his videos a while back that his battery health was at 100%. That proved to be incorrect by many other sources that discovered an error in the calculation.
Outstanding
Hmmm. Let's see. After nearly 6 years and 78,174 miles, my Model 3 cost me $69,260.36, including purchase price, Supercharging, accessories, repairs, insurance, registration, etc. At least I saved $20,927 by charging it at home with rooftop solar.
Yeah I think Teslas are great for people that just drive from point A to point B. But not good for car enthusiasts. I think the model 3 performance might be good enough for car enthusiasts. Hopefully!
How about the precious TIME wasted in charging on road and stresses from that? I value my time highly.