You forgot to mention that german suvs especially BMW, Mercedes depreciate "MASSIVELY" in comparison to Tesla and they become nightmare to maintain. I LOVE BMW, Mercedes and Audi but this is just a cold hard fact. Having bought and sold many and having family in the auto industry...
You failed to mention long term maintenance which is ridiculous. Very Average warranty and high cost of parts is eye watering. There is a story of a blogger who reportedly had to replace a light globe at a cost of $2000 who complained which got the attention of Musk who reportedly apologised to him personally and provided it at cost. Good luck if your just an average person who needs parts
I'm not sure what you're trying to convey in your video, but it's not the cost of ownership. Some of your costs like paying the principle part of the loan aren't really costs - because you'll get some of them back when you sell. To calculate the true cost of ownership you should be including actual depreciation, electricity cost, maintenance cost and finance cost. Your video gives people some idea of the financial outlay of buying a Model Y if you have around $10k to put towards it, and that is helpful.
This video was very helpful and I would never want the first release of a car. I doubt any of these owners are keeping these vehicles until paid in full/72 months. Looking at his upfront cost, (if offered at the time) he could have paid cash to lease that vehicle for 2 years with the cash from his downpayment, trade in, etc. Makes sense why they're making fluff videos daily like their car notes depend on em lol. I totally understand now, do what ya gotta do. The cost really need to come down.
Ah yes, the internet scold appears. If you don't like it, or can't afford it, don't do it. How hard is that? Ryan ditched his FIT for five bills and that car will make someone happy (I am a fan of the FIT and if that were my budget I'd buy it in a heart beat). Generally speaking the world doesn't need people to tell adults what they should (or should not) be spending their own $ on.
Nuts??? I agree that's cheap, compared to what I paid for my 100k 2015 Model S. Monthly payments is relative to your place in life right now. One day that won't seem so high to you. Your day will come.
@@henrycruz45cal I can easily afford a monthly payment that high. I choose not to take on that much debt for a car and incur a high monthly payment, but others may. I see your angle though-imply that I can’t afford it. If you read my comment, you’ll see that I said that this monthly payment is too high or would be irresponsible for MOST Americans. Guess what? Americans have a debt problem, a savings rate that is too low, and allow their desire for new and shiny things and instant gratification to put them in a precarious financial position.
@@meloapa wrong. Financial literacy is sorely missing in our culture. Most people would do well to learn financial responsibility including debt and cash flow management. When the average American can’t afford a $1K home repair and splurges on debt-fueled shopping sprees, we’ve got a problem. Grown adults can do whatever they want. Go smoke 2 packs a day, eat fast food and get fat, become a diabetic, watch tv all day, buy more than you can afford. Sure-we live in a free society. But I can still give people my opinion that maybe they should consider having some restraint. That’s just one small voice in the cacophony shouting at us to buy more, spend more, accumulate more, impress more.
Wow, one of the best, if not THE best, review of a Telsa ownership after a couple of months. Incredibly detailed and useful for everyone. Thanks a lot Ryan...
Thanks for the video . I rode in one the other day and fell in love with the torque . I Concidered purchasing a Tesla thinking I would save over time with the lack of fuel cost and much less maintenance . I now realize it's an expensive ,but fun , toy . I'll just keep driving my Toyota 'til the wheels fall off .
It might make good sense in the short term to take advantage of free Supercharging, but it may come back to bite you in the long run. Supercharging reduces battery life compared to slower home charging, and a new battery can cost over twenty grand. You can buy a lot of kWh's at $.15 each with that kind of money.
One thing to keep in mind is that there's an efficiency loss in the home charging equation. Tesla estimates about 80% efficiency, so 1,649 kWh of energy used by the car from home charging meant you actually used around 2,061 kWh to get that much power into the car.
Great information in your video. But two other Tesla considerations: batteries are heavy, so your tires will wear out sooner. And as the battery ages, its charge capacity will decrease, meaning range will decrease. I believe this is true with all EVs.
And won’t using the heater and AC decrease range too? No one says how many mile decrease in range that is. And we have all heard that Teslas cannot be towed. They have to be put in a special Service mode, but you cannot do that if you already ran out of electricity. Then there is the GM EV problem of bursting into fire. GM has a directive out to not park you GM EV in a garage but far enough away from your house, so if/when it bursts into flame, your house does not burn down. They are having lithium battery issues. I have to assume that also means don’t park in a parking garage, so you don’t burn up other peoples cars too.
Loveeee this video bro. Especially the math of it all, people tend to forget that not all of your monthly payments go to the cars price and at times it could even go towards your interest first.
Especially when I can buy a good used car outright for his nine-month ownership cost. He is going to have to own that car for a long time to make it work out financially.
@@aboutface102 He spent $62K ($68K with interest) to buy the car. He also said KellyBB puts the car at $53K. So if he sold after 9 months, he'd lose $9K and some change.
Have you calculated the time you need for charging at a supercharger instead of getting gas in 3 minutes on average? Of course, to be able to charge at home saves some time. What about the initial cost of an EV over a similar gas engine car?
@@kevinpohlner2840 not really,I'm not being a dick here but he has alrdy spent about 35 k more in 9 months 4 his Tesla than I have in 12 years 4 my edge just sayin
@@rickwhite9220 now one talks about the annual registration fees being significantly higher than annual gas registrations. Also, in years 2 and beyond, one would not have the rebates to reduce the annual cost.
@@kevinpohlner2840 That is assuming you have a station available for you to charge into... The more the EV market will develop the more "traffic" you will get on the charging stations. Like SW mentioned, a gas station is for a few minutes, less than 10 in worse case scenario while charging is far longer than that.
That trade-in value is nothing until you actually trade it in for that amount, kbb says my Model 3 is worth around $40k for trade-ins, but Tesla&Carmax&Carnava all offered merely $32k-$34k.
@@nemesis656 Relax man. The guy drives a ton and he loves the car. He’s also made a decent name for himself with a Tesla based videos. This means he’s got some income. Lastly, if he needs to jump ship he can sell the car and not be upside down. What makes you say he can’t afford it?
I have a 10 year old Volvo diesel. It is reliable and has not let me down in 8 years. It can be serviced cheaply by the local guy down the road. To fill the tank from empty costs around 50 pounds. With this I get 800 miles, yes 800 miles of range. So If I fancy driving from London to Scotland and back on one tank, no problem. No range anxiety, no stress, no worries. To fill up takes 5 minutes and no hunting around for charge points. I can pick up a good second hand car in the UK for around 3 to 5k sterling. You do the math.
Good video . . . But, what about the battery pack replacement cost down the line? I'm talking about your want to sell after 8/9 years, but, now the batter pack has MUCH less range & a HUGE cost to replace! Will this factor not affect the resale cost at that time? Also, what about your time wasted waiting at super chargers?
With a battery-pack degrading to about 80% of its capacity at about 300k miles, if you need to replace the battery pack, you have already used your vehicle for longer than most gas cars. If you compare cost between a tranny and engine replacement, you are at a comparable level (in price) to a battery replacement. If right to repair gains more steam, then we could be seeing cheaper repairs by third parties to squeeze some more life out of existing packs
@@VlikeInMewe I'll bet that 2008 Honda Fit was on original tranny and engine. My 10 year old Acura still runs like new, never needs anything but maintenance and consumables. Fully expect it to get 250k+ miles with no major issues.
What is the true cost of recycling a battery? Man hours, energy, tools and machinery. Cost of disposal PLUS $1000, needs to be factored into the initial price of the Car. The $1000 (which the car owner will receive from a qualified recycler, upon delivery of Car) is an incentive to do things properly... not just crush, bury, or ship off to Africa.
Also from what I understand is that Telsa is also selling individual cars at a loss. They make a profit from getting some kind of green rebate, either from the government or by selling "greenness" to other auto-manufacturers who don't do electric cars yet.
When the warranty is done, what will the cost be when you have to take it the Tesla's dealer for repairs. What was the fit and finish. People are complaining about the quality. Consumers report ranked them pretty bad.
for $12k, you can get the 4th generation Prius. The 2017 models and up have TSS standard. Add Comma ai, and you can make your Prius level 2 autonomous driving for an extra $1000. I plan on doing this in 2021 when I upgrade and let go of my Prius C.
I hate all these videos of "how much money I saved by buying a Tesla" A tesla is still out of a lot of people's finances (especially this guy's 1k/month recurring loan payment for 5+ years) That auto loan + insurance is someone's nice 3 car house mortgage in not-California
My 2004 Prius has 126,000 miles. Had to replace the main battery for 1800 dollars 6 months ago, but that was originally a 2004 battery! There are plenty of people driving used Priuses for over 200,000 miles. When you own a car for over 200,000 miles, you get your money’s worth. The Tesla is more comfortable than a Prius, but the Prius is vastly more economical to own. I don’t think there is another car that will beat its value. Sanjosemike (no longer in CA)
get a better paying job then. also, obviously, pay more cash up front and lower your car payment. I am putting down 23.000 euros as car payment on my M3 LR and my monthly cost will then be 270 euros with 1.95% interest
@@ZekeMagnum But the question is why would you put down 23,000 euros in the first place. I could buy a Tesla with cash outright but for me a car is just a means of transportation. I don’t care how fast it is or how cool it looks. I would much rather invest my money or buy property.
How long do you expect to own the car ? I am interested to see a review at the 3 year and 5 year mark, if you keep this car that long. I usually keep my cars for 10 to 15 years.
@@superstarcat7654 Lol what battery are you thinking of? triple AAA batteries? at worst he would need to change 2 times, and there are new batteries on the way
@@cythose4059 I am going off of the Tesla batteries. Three years life for a battery, saying you want to keep the charge above 200 miles of a battery that new gives you 280 miles. And 250,000 to 280,000 miles total. And no one says how much using the heat and AC cuts into your mileage.
This breakdown on ownership cost put things in perspective. I’ll keep my paid off car and rather invest that 800 - 1000 dollars right back into the market. Hell, I would rather just invest it into Tesla stock.
I guess I’m missing something. Approximately 14500 miles in a medium sized sedan would be roughly 580 gallons of fuel or $1450. I don’t see any savings? 14500 in a Honda FIT would use 414 gallons of fuel or $1,035. Seems to be cheaper by far to drive a gas vehicle.
The Tesla still cost way more for the “average” person than a normal gas car. When you can buy a descent Toyota for half the price. You will never get back the extra savings from the Tesla.
@@chrishubbs8633 You can buy a ton of cars for less, but they don't do half the things. If all you want is a cheaper car, you're right, there are a lot of options
@@NashvilleWarEagle Half the things? Are you speaking of technology wise? The average consumer don’t care about self driving capabilities, auto pilot, blah blah blah. They just want a dependable affordable car. Which Tesla is not, its aimed at a niche market. Which I think is locking itself in a box. All you are paying for is the technology and the battery tech. Which who is driving 300 miles at one time constantly on a daily basis? And if they are, guess what they aren’t in a Tesla. They are more than likely driving a fuel efficient gas or Hybrid vehicle.
But then you are comparing a 60k car to a 30k car, you could say the same about any car. If you get an actual 30k electric car then it would make a difference. I understand you are not for electric cars, but why make a claim like this, when you know tesla is supposed to be a "luxury" vehicle. I'm not saying it actually is, but that that is the price range tesla has set it self up in for now. There are plenty of electric cars in the 30k range.
Very informative but you forgot another variable in the equation: time. Normally it takes a person 5 mins to fill their gas tank. How long does it take to charge at the supercharger? Also, convenient fee. You easily find a gas station every 5 mins drive. How far does it take to drive to supercharger station? Is it mostly convenient for you??
@m mars This is not a gasoline powered vehicle. Since there is no danger of spillage and fire, you are not required by law to stay with your vehicle while it is fueling, as you are with an ICE car. Most people intelligent enough to purchase an electric car are intelligent enough to figure out that they can eat at a restaurant, shop, or sleep (at home, at a campground, or in a hotel) while the car is charging, so the time penalty is minimal. See my reply to Evan Wu above for more.
Thank you for giving us all your detailed costs. Operating a financial practice has given me some insights that may help you audience. First of all, you would need to compare the costs of similar cars. I suggest comparing a Honda Accord to the Model Y (not a BMW X3). Compare over 72 months. Here’s an example. Because the Base price of the Honda is less expensive, let’s say your monthly payment is $300 less. So 300 X 72 (months)= 21,600 extra you paid over the 72 months. Now comes the important part. This means your “opportunity cost” of owing the Tesla was 21,600. In other words, had you purchased the Accord you would have had an extra 300/month to invest over your lifetime. (Assuming you keep buying Tesla’s) If you can average 10% growth per year on this money, you will double your money every 7 years. Using a future value financial calculator your opportunity cost would have been 683,697 over a 30 year period. However, even if you stop buying cars after 30 years your costs do not stop. Had you this 683,697 it would keep doubling every 7 years (at 10% growth). So after 30 years, if you were age 65, then 7 years later it would be worth over 1.3 million and at age 79 over 2.6 million. If you died at age 86, you would have forfeited over 5.2 million of legacy to your children. And, the costs don’t stop there. They keep accumulating generation after generation. So you see, if you don’t factor in “opportunity cost” (as 95% of financial planners don’t), you are not getting the full story. (We are not factoring in trade in values or taxes in this simple example, which actually would make owing the Tesla more costly, unless you could write it off your business)
Finally! A well thought out and non-emotional analysis! And yes, you are right. If you want to purchase a Tesla, or any car for that matter, run it through a business or side hustle.
I considered Tesla, but in terms of features and driving range I found Honda CRV a much better value for money. CRV has very nice interiors and costs less than half.
@@raygold1 I don’t know how that can be. If the value of the car is higher, it should cost more to insure it. Did you have a terrible deal on your old insurance policy?
That was excellent... You have made a sale for my new 2021 Audi SQ3. Your numbers were scary real and until Tesla's prices come down I'm not a customer.
It’s an expensive car for people that can afford it. I think it’s fine if you’re looking at a car for a similar price, but the huge downside is lack of service. My boss got into an accident with his tesla (wasn’t his fault and the built in cameras proved it) and it took 2 months or so to get it fixed. I think that is currently the biggest drawback/risk to having a tesla. Once their infrastructure for repairs and service matures I think the upsides will outweigh the downsides.
1 thing that goes unnoticed is tyres. You replace them earlier because all of that torque wears them out more quickly. Expect to get 30,000 kms only on a set.
I'm also wondering that. I can easily drive over 300 miles a day and don't want to spend my time at a charging station verses the few minutes it takes to get gas. Plus my current car gets over 600 miles to a tank of diesel!
@Evan Wu It effectively takes almost no time to charge at home in your garage while you sleep. If you take only a couple of long trips per year, the total time spent at charging stations will be LESS than the total time loss for a ten-minute gas station visit every week: 10 minutes x 52 weeks = 520 minutes or 8.5 hours. Most electric vehicle recharging sessions are 30 to 45 minutes at most. You might well get in 10 to 15 recharging sessions (while you are grabbing a lunch or taking a toilet break) in the same total amount of time you now spend waiting around inhaling poisonous fumes. Think about it.
@@justynthyme do you own your home or own your apartment ??? Seems like something someone who can’t afford things would say. Money is good to have fluid why blow your entire savings on a car when you can use that 50k to invest in other things and by 3-4 years earn that money back x2 in stocks and in real estate. having debt is a good thing if you think the richest people in the world don’t have debt then that’s why you aren’t making Tesla videos on your own 😂
Well, even a Tesla lasts more than 4 years, so I do not see the logic. Of course its cheaper to pay cash, because interests do add up, but if you plan on keeping the car for at least 7 years, there is no problem with a 7 year loan. My real concern with Tesla (or EVs in general) is that you run the risk that technology takes a huge jump. If Tesla does some of the things they claim they will do, like the million mile battery, the price of used Tesla will go through the floor.
Recent Tesla owner here (2023 Model 3 RWD), your channel was recommended to me and I love it. Great video! It's crazy how expensive hydro is in California. I'm in Canada (Ontario), which does not mean cost of living is cheap to live here but I pay $0.08/kwh (Time of use off peak is $0.07 so I preferred to pay the extra $0.01 and charge whenever I want).
I think it's best to leave out the trade-in $500 (or any other trade-in amount), because it really has nothing to do with the ownership cost for the other vehicle. Good rundown other wise. I waiting on my CyberTruck (about 2 years out) and will do the math on it before committing to a final purchase. I will be replacing 2 vehicles (my 2003 SportTrac truck and a 2019 Honda Fit) in 2022/2023 when my number comes up.
I don't even care and my cars are worth a few grand tops. All of my Infinitis get 15-18 mpg lol. I still get the same range as a pos tesla...except I can fill it up anywhere and doesn't matter when I forget to refuel for that same reason. And, nope, Tesla performance models can't even out-perform them. Booooost.
Great break down and enjoyed how you covered the topic. But theses type of cars don't work for everyone. I'll stick to my 1ton dully and 93 octane SS trailblazer. Keep up the great info amigo
I’m curious on your upgraded suspension. What the name of your aftermarket shocks, Where did you find the data to upgrade, Where did you go, what was the cost and how do you like it?
Solid video. Only issue is that the Model Y is not a luxury car, like the BMW. People treat it as such, but it's just not. It's definitely a premium EV, but that's the most accurate way to describe it.
They also depreciate rapidly toward the end of the warranty. The battery packs and drive units will fail by the 10 year mark making the car useless. Gas cars last 25 years on a average. The additional insurance will be more than the gas savings, not to mention tires are very expensive.
Its because you lose less time charging an electric than with a gas car, people are charging their car 98 % of the time at home while sitting in their couch while a gas car user will lose around 2 to 10 mins every week depending on where is the gas station plus the time to fill up. My neighbor has been driving his electric car for 4 years every day and he has not charged anywhere else than at his home yet.
@@bobwesley4634 and in that case, home charging is the cheapest available, especially when charging at low peak hours. The video I just watched broke down the math. 100k miles cost as little as $300.
When I charge my EV outside of my home I take a walk, go eat, grocery shopping, watch a video or something else. So you don't have to sit there doing nothing. I would say It's kinda relaxing to just sit there though in this stressful world.
Please include life cycle costs. We own cars over decades and I am interested in cost to change batteries every ten years. The other analysis is how often should you buy and sell.
It was a fair comparison. Tesla is viewed as a luxury car. It had brand appeal. The initial cost and depreciation is the biggest chunk. This is why some cars are worth paying a higher price for because you can sell them for more later. Sure if he bought a similar sized car but cheaper, the money saved would probably pay for the fuel until he sold it. At the moment Teslas have high resale value compared to regular cars. Personally I think that is mainly due to the lack of availability. 10k to turn on a software feature and be a guinea pig is a rip off IMHO. Some dude used the auto park feature at the cars suggestion and Tesla told him "bad luck" when it failed and damaged the car. Of course, (I admit I skipped a lot of the video, hoping for a simple chart at the end), what price on convenience of recharging and range etc. It sounds like his car is more of a toy rather than used in a practical way most people use cars. 2 hours to "refuel" or 3 minutes?
He utterly skipped the home charger cost of ownership, but did cover the cost of electricity, and completely ignored the road taxes you pay in ICE cars which will 100% come to EV and already are reality in Norway making the cost of transport ~equal if the car cost upfront is equal in said country... Example: ~30mpg and each gallon has ~$0.50 in federal road taxes + local taxes. So, each mile driven has a TOLL(tax) of ~2c/mile and is even higher for diesel. Thus, his 14,000 miles driven will have an additional TAX of $280 that the government will 100% guaranteed get one way or another in either supercharging taxes/kWh, or in license plate taxes, or tabs or.... So, his $500 saved in fuel each year is in fact ~$200. Nothing to ignore, but not exactly a giant selling point.
@@OldCharlieRum1903 and the fact a Bmw will have better build quality. Some of the comments on forums and UA-cam reviews showing bad paint jobs and panel gaps etc doesn't give great confidence in Tesla. I bet most people could pick up a Bmw x1 on the second market and afford it unlike a Tesla
Cost is still WAAAAAY too steep to upgrade. I will wait. Right now, the cost of my paid-off vehicle is about $300-400 a year. Hard to beat that, especially when your monthly payments are... 2-3x that. Yikes.
Outstanding breakdown and explanation of your costs, even if most folks couldn’t stomach the payments (by reading the comments). Thanks for doing this.
Elon goes to Larry, hey man would you float me a couple of billion until my company actually starts to return a profit? Larry "Fuk No, you moron, dreaming about your futuristic reality!"
@@romanplays1 you think or you know He's a smart smooth move he leveraged a lot of people to create an asset allowing him to seek his vision I don't take anything from him about that My concern is being disingenuous about a product that has just been put on the global stage as a possible cure all Let me see the books and I'll determine if he's made a profit from the sales of his products and services not from promoting stocks and bonds and all the other beneficiaries of monetary quantitation Ty Good luck on your endeavors Peace and love always
@@romanplays1 CEO since 2009 I believe and he was burning thru money at a loss for years. Almost went under, so turning a profit for about a year and 3 months now is not impressive to me bud. Here’s the real question: Can Tesla sustain themselves in this type of market? We will see soon enough.
Dude, thanks for the interesting info, but ... I would not include the downpayment in full in the 9 month cost or I would do a second alternative where I would amortize the downpayment over the full number of months you plan to own the car. I would also suggest doing a lifetime average cost per month and year and comparing that to an ICE vehicle. I would even do a comparison for your Honda Fit (avg / mth over total life) and for the BMW X3. I have a Model Y that I'm due to take delivery of within the next week. I have owned 3 BMW 5s over the last 25 years. I buy them as they come off lease (to avoid the initial depreciation). The first one I had for almost 10 years and planned to get to 200k miles but I was forced to trade due to needing 2 big repairs that I was not going to pay for on a car that old. The next one lasted to 100k before the same scenario and the last one is at 75k and I'm bailing because of a $4,000+ set of needed repairs. Each has cost me more each year due to the shortening lifespans. I'm paying more for my model Y than I ever have for a vehicle but I expect to actually get to 10+ years and 200k+ miles this time with the only big expenses being tires, brakes, and possibly some suspension repairs due to wear. I calculate that this will be the least expensive vehicle -- n terms of the total cost of ownership per month -- that I have ever owned.
Same, I’ve owned quite a few BMWs, they’re the only cars I’ve purchased. I started with a 323i and progressed to 528iA, X5 and another X5. Traded in the 323 for the 5series, hydroplaned in the 5series, the air suspension went out in my first X5 leaving me with a lowered backside so I traded that in for my current X5 that’s having a repair bill of $5k and the Model Y is actually the least expensive vehicle to buy at this point. I would like to add though that all my BMWs achieved high mileage before having to come into high repair bills and I’ve owned them for some time. My current X5 is a 2012 and a friend wants to buy it from me at $8k because he only wants it to transport his grand daughter in 🤣😂 because he has a brand new Camaro. But I’m waiting on a few things to be added to the model Y before I order mine.
@@DanielEndy2 the new center console and hoping heated steering wheel and really really hoping they surprise me with a magnetic suspension or something 😬 and the new unibody casting.
Yeah, the guy is a long way from being a proper accountant. Btw, the comment immediately above yours on my screen (from a "dalton knox") claims it will need a total battery replacement ($12,000 or $24,000, can't tell what he's trying to say) every 100k miles. This section is fizzing with hatred for Tesla. Just red-hot, fists-clenched, blurred-vision anger.
Hi Ryan, great video! Thank you for taking the time to breakdown your cost. I have one issue however and it's not just with your video but every price breakdown of owning a Tesla I've seen as well. People always say that the price of electricity is cheap and "around x cents per kw". Usually anywhere between 4 and 10. Yet I find that this is never the true cost. I own a model 3 and was surprised to see how much I was *actually* being charged from my utility company (this shock is also related to having my own house for the first time and constantly seeing the breakdown of a full electricity bill). What I see on the bill is that electricity is rated at around x center per kw (as everyone says) but the utility company also tacks on a bunch of extra charges, mainly "delivery". This shoots the true cost up to anywhere between 18 and 25 cents per kilowatt for me. I was so surprised that I asked some family and friends to send me their full electricity bill. This seems to happen all over from what I can tell. I've seen bills from MA, NH, CT, GA, and TX. Perhaps a video better explaining this would a good next topic for you to cover.
What you are experiencing is a rate hike in the cost of power. When the EPA decided coal power was bad, the only alternative was a more expensive source for your power. Since 2006, most people have seen a doubling in their electric rates. Add inflation to this cost and it looks even worse. It's most prominent in the NE since a lot of coal power was turned off in the NE. I would say I feel sorry for people eating these rates, but the reality is I don't. When you remove a cheap source of energy solely due to political activism, you get what you get. You're voting yourselves into poverty.
@@bobhabib7662 Good comments Bob , from up north in BC Canada , it's going to be many years , a much better more practical product before I would consider purchasing a electric car.
Looks like one of the most important factors is omitted here (as is the case with most comparisons and calculations like these): battery capacity reduced with time and battery replacement cost. Also, a luxury vehicle such as BMW is not an appropriate comparison with Model Y, which is premium. There is a distinctive difference between Premium and Luxury.
The NCM battery is expensive. Wuling Hongwan, 300 km NEDC range, very small 4 seater. You either get a trunk or 4 seats for two adults and two kids in the back. Cost $5500 in China. Made by a joint venture between Wuling GM and SAIC.
One of the best videos I’ve seen about owning a Tesla by the way paying $816 + car insurance was close to 1k a month but maybe the shocking part for me was the monthly insurance payment I was expecting more in the car insurance especially after going from a Honda fit to tesla!
Holy cow!! His car payments are super high!! Some financial experts say you should not buy or finance a car that is more than 50% of your annual gross income.he seems very happy with his Tesla. Thank You for the video.
Good video. I'm weary of the KBB trade-in value though. Will Tesla take back one of their cars as a trade-in say wanted to upgrade to a new model S, X or 3? How much would Tesla give you for the Model Y? I think it would be good for viewers to share what they were offered if anyone has successfully traded in any model Tesla for either a new Tesla or a conventional car to see how accurate KBB's Trade-In Value calculation is. I learned a lot. Thanks for taking time to make this.
I just ordered a Model 3 ER. Wells Fargo rate is 2.49% but when I used my MAC Numbers formula it comes out to be 2.53%. The down payment is $576 the principal is $49,000. I changed the loan down to 5 years. My Investment account returns 4.4% so I will be paying the loan off with inflated cheaper dollars. NJ has no sales tax and gives a $5000 rebate. the cost per mile comes out to the same as my 3.5 yr Volt.
What it ultimately comes down to, if a person can afford it and wants to enjoy and splurge a bit in life? Why not, get your priorities set of course first, but after that if you got wiggle room and want to enjoy life? Do it, purchase what you want and do what you want. You don’t take your savings when you die
You're right. The numbers really work best when you're comparing a premium car of the same comprable price to the Tesla. Honda fit's are going for around $16,000 now. That's a big difference. Also you'd save a little bit uninsurance. Hopefully one day they will have an affordable electric car for the masses.
True my girlfriend has an 11 year old Honda Fit worth as much as she paid for it ($8,000 lol) over 5 years ago and it gets 30-40mpg. The insurance on these Tesla’s are insane so there’s no real cost saving or justification to have a car payment to save $100 in gas and pay more in insurance. It only makes sense if someone is already spending $50-70k on a vehicle and wants something that has a little bit of everything and will be cheap to run. I’ll get a model Y blacked out performance in like 2 years when everything settles down they’re phat
You’ve been a great influence in my introduction to Tesla. I paid my $2,500 down payment for a RWD Long Range Model Y in January, but modified it last month to a AWD Y in red also. I opted to pass on induction wheels based on reports of tire damage, and don’t need (IMHO) FSD, but did add the hitch. I’m expecting delivery this month, and already have a home charger from my stint with a Kia Soul EV, so I’m super excited. Thanks for all the outstanding reporting and guidance this past year.
You know it's a Tesla 'mania' when a reasonable, sane $500 Honda Fit owner thinks it's a good financial decisions to buy a $63,000 new car to get around town.
I don't think buying the Tesla was smart. Use that money to invest in something and keep using the fit. I mean, the paint job of the Tesla alone costs more than the Fit.
in NY it would cost ~$26 to charge model 3 standard range plus (263 miles) which is about the same you would spend to fill up a 2006 honda civic (390/520 city/highway miles). So buying a $70k car vs buying 3k car (in great condition). you can swap the whole engine for under $1k on honda civic or just buy another car vs paying $1k for a windshield.
But where and how did you drive it ? Long trips say 800 km Do you drive fast do you tow a trailer how much weight of passengers and luggage etc ? All of these need to be factored in
$900 every 6 months for insurance is insane to me. I pay $165 every 6 months for liability on my truck. I pay $120 annually for full coverage on my motorcycle. Full coverage on a brand new ZL1 Camaro is $625 for me. With as few miles as I drive, the savings from buying electric instead of fuel doesn’t offset the cost of insurance for me, let alone the price of the car itself.
He utterly skipped the home charger cost of ownership, but did cover the cost of electricity, and completely ignored the road taxes you pay in ICE cars which will 100% come to EV and already are reality in Norway making the cost of transport ~equal if the car cost upfront is equal in said country... Example: ~30mpg and each gallon has ~$0.50 in federal road taxes + local taxes. So, each mile driven has a TOLL(tax) of ~2c/mile and is even higher for diesel. Thus, his 14,000 miles driven will have an additional TAX of $280 that the government will 100% guaranteed get one way or another in either supercharging taxes/kWh, or in license plate taxes, or tabs or.... So, his $500 saved in fuel each year is in fact ~$200. Nothing to ignore, but not exactly a giant selling point.
I like to buy 10 plus year old cars for $3000. I fix them myself, drive for 10 years for about $3000 in repairs. Not sure how buying new cars saves any $.
@@williamconrad1087 For some folks I guess that may be true. Being that I used to work on cars for a living it does not take me as long as most folks either. Hours wise I may spend two days a year doing everything. Brakes, bearings, belts, gaskets etc. Giving up a few days time to save thousands is a great trade off for me but not everyone I guess.
I used to do that, as I've driven company vehicles for 30 years, so don't rely on a personal vehicle to get to work. Then I realized I'd rather not die horribly in an accident in a cool old car, that I would walk away from/avoid in a boring modern car with the latest safety tech. I live in a major metropolitan area where virtually every trip involves a freeway, and it only takes one distracted idiot to change/end your life...
Good breakdown! Your data = objective. People in the comments screeching about "expensive" = subjective. It costs to have luxury, and honestly at $55k, its a fair price.
Wow, I have 250k miles on my Tacoma with a monthly cost of 200/mo. Gas and full coverage insurance included. Almost bought the performance model Y and realize this makes no sense other than owning a luxury item. I invest 1-2k/ mo more on stocks and dividends every month. That’s my way of going green. ; )
I am with you buddy, I reserved the cybertruck and immediately started investing $600/month. I'm driving 99maxima and happy with it. I already know there's a 50% chance I probably won't end up getting the cybertruck but wanted my place in line just incase.
I paid 3k for a crown Vic, cash. Still driving it after 8 years, spend 500 on has per month, 50 on insurance, and 80 on oil change every 6 months. No issues
The best monetary strategy is to keep driving the same car for the life of the vehicle. In many cases that means 10-15 years or more and +300K miles. Compare the cost for repair of an out-of-warranty EV that requires a new battery ($10-15K) or a comparable ICE vehicle that needs a new engine ($3-5K).
How much will it cost to replace the batteries once they start to degrade to the point it isn’t worth charging them and how long will that take? What will your efficiency be and how many more times will you have to charge once the batteries no longer charge to full capacity?
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
► UPDATED 1 YEAR TRUE COST VIDEO: ua-cam.com/video/GkpOZ1UlkPc/v-deo.html
You forgot to mention that german suvs especially BMW, Mercedes depreciate "MASSIVELY" in comparison to Tesla and they become nightmare to maintain. I LOVE BMW, Mercedes and Audi but this is just a cold hard fact. Having bought and sold many and having family in the auto industry...
You failed to mention long term maintenance which is ridiculous. Very Average warranty and high cost of parts is eye watering. There is a story of a blogger who reportedly had to replace a light globe at a cost of $2000 who complained which got the attention of Musk who reportedly apologised to him personally and provided it at cost.
Good luck if your just an average person who needs parts
I'm not sure what you're trying to convey in your video, but it's not the cost of ownership. Some of your costs like paying the principle part of the loan aren't really costs - because you'll get some of them back when you sell. To calculate the true cost of ownership you should be including actual depreciation, electricity cost, maintenance cost and finance cost. Your video gives people some idea of the financial outlay of buying a Model Y if you have around $10k to put towards it, and that is helpful.
Insane is to think you save money 😂
you spent $50K to $90k to save gas and hunt for cheap insurance....great logic. $500 for a honda fit?
Good to know the Honda Fit is cheaper than an Airpods Max.
Hahahahaha
Dying
😂😂😂
Shots fired! Lol
Edmonds says a used 2008 Honda Fit is worth $800 to $3,800.
$816/mo car payment is nuts. I get that you offset that with revenue from this channel, but for most people, that just seems like a bad decision.
This video was very helpful and I would never want the first release of a car. I doubt any of these owners are keeping these vehicles until paid in full/72 months. Looking at his upfront cost, (if offered at the time) he could have paid cash to lease that vehicle for 2 years with the cash from his downpayment, trade in, etc. Makes sense why they're making fluff videos daily like their car notes depend on em lol. I totally understand now, do what ya gotta do. The cost really need to come down.
Ah yes, the internet scold appears. If you don't like it, or can't afford it, don't do it. How hard is that? Ryan ditched his FIT for five bills and that car will make someone happy (I am a fan of the FIT and if that were my budget I'd buy it in a heart beat).
Generally speaking the world doesn't need people to tell adults what they should (or should not) be spending their own $ on.
Nuts??? I agree that's cheap, compared to what I paid for my 100k 2015 Model S.
Monthly payments is relative to your place in life right now. One day that won't seem so high to you.
Your day will come.
@@henrycruz45cal I can easily afford a monthly payment that high. I choose not to take on that much debt for a car and incur a high monthly payment, but others may. I see your angle though-imply that I can’t afford it. If you read my comment, you’ll see that I said that this monthly payment is too high or would be irresponsible for MOST Americans. Guess what? Americans have a debt problem, a savings rate that is too low, and allow their desire for new and shiny things and instant gratification to put them in a precarious financial position.
@@meloapa wrong. Financial literacy is sorely missing in our culture. Most people would do well to learn financial responsibility including debt and cash flow management. When the average American can’t afford a $1K home repair and splurges on debt-fueled shopping sprees, we’ve got a problem. Grown adults can do whatever they want. Go smoke 2 packs a day, eat fast food and get fat, become a diabetic, watch tv all day, buy more than you can afford. Sure-we live in a free society. But I can still give people my opinion that maybe they should consider having some restraint. That’s just one small voice in the cacophony shouting at us to buy more, spend more, accumulate more, impress more.
Wow, one of the best, if not THE best, review of a Telsa ownership after a couple of months. Incredibly detailed and useful for everyone. Thanks a lot Ryan...
Thanks for the video . I rode in one the other day and fell in love with the torque . I Concidered purchasing a Tesla thinking I would save over time with the lack of fuel cost and much less maintenance . I now realize it's an expensive ,but fun , toy . I'll just keep driving my Toyota 'til the wheels fall off .
Robert Bryce said it best in his book Power Hungry. “Electric Vehicles are the next best thing, and always will be”.
It might make good sense in the short term to take advantage of free Supercharging, but it may come back to bite you in the long run. Supercharging reduces battery life compared to slower home charging, and a new battery can cost over twenty grand. You can buy a lot of kWh's at $.15 each with that kind of money.
One thing to keep in mind is that there's an efficiency loss in the home charging equation. Tesla estimates about 80% efficiency, so 1,649 kWh of energy used by the car from home charging meant you actually used around 2,061 kWh to get that much power into the car.
Don't break his heart again.
tests have shown well above 90% for 240v charging and as low as 50% efficiency for 120v... just dont 120v
@@IkethRacing And all private homes have easy access to 240 so it's only laziness that stops an owner from obtaining the best charging situation.
@@RetroCaptain Laziness won't pay the electrician's bill to run that circuit, get a permit, pay for inspection, etc etc. Think before you judge.
Would like to see your updated video when you replace the battery bank in 3 years(aprox $20K)
Great information in your video. But two other Tesla considerations: batteries are heavy, so your tires will wear out sooner. And as the battery ages, its charge capacity will decrease, meaning range will decrease. I believe this is true with all EVs.
And won’t using the heater and AC decrease range too? No one says how many mile decrease in range that is.
And we have all heard that Teslas cannot be towed. They have to be put in a special Service mode, but you cannot do that if you already ran out of electricity. Then there is the GM EV problem of bursting into fire. GM has a directive out to not park you GM EV in a garage but far enough away from your house, so if/when it bursts into flame, your house does not burn down. They are having lithium battery issues. I have to assume that also means don’t park in a parking garage, so you don’t burn up other peoples cars too.
Battery degradation should be included in the cost of ownership analysis above (but is not).
And these heavier vehicles wear out the roads quicker. No more blaming (road wear) it just on the trucks.
Loveeee this video bro. Especially the math of it all, people tend to forget that not all of your monthly payments go to the cars price and at times it could even go towards your interest first.
Yes, very glad he included all the extra costs.
He did a great job detailing a terrible financial decision.
Especially when I can buy a good used car outright for his nine-month ownership cost.
He is going to have to own that car for a long time to make it work out financially.
This will be insane profitable since he got fsd
Don't forget how well these hold value. If he went to sell it he could get most of that money back.
he did make a youtube channel out of it and makes a living on talking about it.
@@aboutface102 He spent $62K ($68K with interest) to buy the car. He also said KellyBB puts the car at $53K. So if he sold after 9 months, he'd lose $9K and some change.
Have you calculated the time you need for charging at a supercharger instead of getting gas in 3 minutes on average? Of course, to be able to charge at home saves some time. What about the initial cost of an EV over a similar gas engine car?
Time is money. Many people do not equate those together.
If you have 30 minutes to an hour to hang out in a grocery store parking lot waiting for your battery to charge halfway, an electric car is for you.
@@kevinpohlner2840 not really,I'm not being a dick here but he has alrdy spent about 35 k more in 9 months 4 his Tesla than I have in 12 years 4 my edge just sayin
@@rickwhite9220 now one talks about the annual registration fees being significantly higher than annual gas registrations. Also, in years 2 and beyond, one would not have the rebates to reduce the annual cost.
@@kevinpohlner2840 That is assuming you have a station available for you to charge into... The more the EV market will develop the more "traffic" you will get on the charging stations. Like SW mentioned, a gas station is for a few minutes, less than 10 in worse case scenario while charging is far longer than that.
That trade-in value is nothing until you actually trade it in for that amount, kbb says my Model 3 is worth around $40k for trade-ins, but Tesla&Carmax&Carnava all offered merely $32k-$34k.
Seriously. No one is going to pay $50k+ on a trade in for a car that is barely more than that brand new.
True, KBB had my car at $6,500 trade in and Tesla offered me $4,100
That is the least of the problems with this video!
Trade in value always sucks because the dealer has to make money off it. Got to sell directly instead of trade in.
Your car payment is more than my mortgage on a 2,500 square ft house not including taxes and insurance in Charlotte NC.
Wow that's a closet apartment in NY, please don't move to NY🤣
I need to move to Charlotte. Los Angeles home prices are awful
Ya but I can live in my Tesla and drive it wherever I feel like going
Exactly, in Charlotte!
And more than my investment property in arizona generating $.
Kinda sad. Government pumping 1200, $600 and potentially 2k for this
So in a nutshell, you couldn't afford a $50,000 car but you still managed to get in debt just to own one.
and then gets happy about "saving" 500 bucks in gas after getting ripped off.
@@nemesis656 Relax man. The guy drives a ton and he loves the car. He’s also made a decent name for himself with a Tesla based videos. This means he’s got some income. Lastly, if he needs to jump ship he can sell the car and not be upside down.
What makes you say he can’t afford it?
Lol
I wonder the 500$ gas saving if he work at home hahahhahahahha
This video paid for the Tesla
I have a 10 year old Volvo diesel. It is reliable and has not let me down in 8 years. It can be serviced cheaply by the local guy down the road. To fill the tank from empty costs around 50 pounds. With this I get 800 miles, yes 800 miles of range. So If I fancy driving from London to Scotland and back on one tank, no problem. No range anxiety, no stress, no worries. To fill up takes 5 minutes and no hunting around for charge points. I can pick up a good second hand car in the UK for around 3 to 5k sterling. You do the math.
Same here......in Sweden i get a nice BMW X3 for 10k usd, why buy a 60k Tesla, maybe in 10 years or so.
Good video . . . But, what about the battery pack replacement cost down the line? I'm talking about your want to sell after 8/9 years, but, now the batter pack has MUCH less range & a HUGE cost to replace! Will this factor not affect the resale cost at that time? Also, what about your time wasted waiting at super chargers?
With a battery-pack degrading to about 80% of its capacity at about 300k miles, if you need to replace the battery pack, you have already used your vehicle for longer than most gas cars. If you compare cost between a tranny and engine replacement, you are at a comparable level (in price) to a battery replacement. If right to repair gains more steam, then we could be seeing cheaper repairs by third parties to squeeze some more life out of existing packs
@@VlikeInMewe I'll bet that 2008 Honda Fit was on original tranny and engine. My 10 year old Acura still runs like new, never needs anything but maintenance and consumables. Fully expect it to get 250k+ miles with no major issues.
What is the true cost of recycling a battery? Man hours, energy, tools and machinery.
Cost of disposal PLUS $1000, needs to be factored into the initial price of the Car.
The $1000 (which the car owner will receive from a qualified recycler, upon delivery of Car)
is an incentive to do things properly... not just crush, bury, or ship off to Africa.
Also from what I understand is that Telsa is also selling individual cars at a loss. They make a profit from getting some kind of green rebate, either from the government or by selling "greenness" to other auto-manufacturers who don't do electric cars yet.
I saw somewhere Tesla deletes upgrades if transferred to new owners, claiming the new owner did not pay the fee.
IF they do..... that would be some bogus shit !
This is correct, because if you upgrade to a new Tesla you keep the 10000 auto drive feature
When the warranty is done, what will the cost be when you have to take it the Tesla's dealer for repairs. What was the fit and finish. People are complaining about the quality. Consumers report ranked them pretty bad.
Tesla is the latest fad. Wait a few years and something else will come along. The real world keeps catching up.
Final decision: Buy Used Toyota Prius for $12K and $30 monthly insurance and be done with it!! Thanks for the video! ✌️😃
Hmm !
for $12k, you can get the 4th generation Prius. The 2017 models and up have TSS standard. Add Comma ai, and you can make your Prius level 2 autonomous driving for an extra $1000. I plan on doing this in 2021 when I upgrade and let go of my Prius C.
I hate all these videos of "how much money I saved by buying a Tesla"
A tesla is still out of a lot of people's finances (especially this guy's 1k/month recurring loan payment for 5+ years)
That auto loan + insurance is someone's nice 3 car house mortgage in not-California
My 2004 Prius has 126,000 miles. Had to replace the main battery for 1800 dollars 6 months ago, but that was originally a 2004 battery!
There are plenty of people driving used Priuses for over 200,000 miles. When you own a car for over 200,000 miles, you get your money’s worth.
The Tesla is more comfortable than a Prius, but the Prius is vastly more economical to own. I don’t think there is another car that will beat its value.
Sanjosemike (no longer in CA)
never drive a small car again . it is too dangerous.
I like not having a car payment way more than I like having a new car. Those payments are just insane.
Haha... same here. I have been pushing out buying a new car for years now.
Same, my 07 Honda still going strong 🤣
@@milojayjay 2006 Accord here 227k miles. New clutch at 199k. Otherwise it's just gas, tires, oil and brakes.
get a better paying job then. also, obviously, pay more cash up front and lower your car payment. I am putting down 23.000 euros as car payment on my M3 LR and my monthly cost will then be 270 euros with 1.95% interest
@@ZekeMagnum But the question is why would you put down 23,000 euros in the first place. I could buy a Tesla with cash outright but for me a car is just a means of transportation. I don’t care how fast it is or how cool it looks. I would much rather invest my money or buy property.
How long do you expect to own the car ?
I am interested to see a review at the 3 year and 5 year mark, if you keep this car that long.
I usually keep my cars for 10 to 15 years.
That is five battery replacements. Yikes!
@@superstarcat7654 Lol what battery are you thinking of? triple AAA batteries? at worst he would need to change 2 times, and there are new batteries on the way
@@cythose4059
I am going off of the Tesla batteries. Three years life for a battery, saying you want to keep the charge above 200 miles of a battery that new gives you 280 miles. And 250,000 to 280,000 miles total. And no one says how much using the heat and AC cuts into your mileage.
Wow, it sure costs a lot to save money!
but it's getting cheaper all the time!
It's not really saving money until it's fully paid off.
This breakdown on ownership cost put things in perspective. I’ll keep my paid off car and rather invest that 800 - 1000 dollars right back into the market. Hell, I would rather just invest it into Tesla stock.
I guess I’m missing something. Approximately 14500 miles in a medium sized sedan would be roughly 580 gallons of fuel or $1450. I don’t see any savings? 14500 in a Honda FIT would use 414 gallons of fuel or $1,035. Seems to be cheaper by far to drive a gas vehicle.
@@NextProcessing The cost of Fuel is a very small portion of the overall cost of buying and operating a vehicle.
Dave Ramsey is shitting his pants watching this video.
This made me laugh so hard it isn't even funny.
🤣🤣🤣
Lmfaoooooo “72 months!” *faints*
Did as Dave proposes and paid cash.
Good. I can't stand him.
THANKS for talking me OUT of getting a Tesla!
It retains its value and has a lower cost to own. And you DONT want that? FOOL!
The Tesla still cost way more for the “average” person than a normal gas car. When you can buy a descent Toyota for half the price. You will never get back the extra savings from the Tesla.
@@chrishubbs8633 You can buy a ton of cars for less, but they don't do half the things. If all you want is a cheaper car, you're right, there are a lot of options
@@NashvilleWarEagle Half the things? Are you speaking of technology wise? The average consumer don’t care about self driving capabilities, auto pilot, blah blah blah. They just want a dependable affordable car. Which Tesla is not, its aimed at a niche market. Which I think is locking itself in a box. All you are paying for is the technology and the battery tech. Which who is driving 300 miles at one time constantly on a daily basis? And if they are, guess what they aren’t in a Tesla. They are more than likely driving a fuel efficient gas or Hybrid vehicle.
Same here. LOL. That Honda Fit is looking pretty sweet.
Good video and thanks for the breakdown 👍🏻. At 60K you could get a loaded Toyota and use the 30K saved for life time fuel and maintenance
I’m trying to tell my wife the same thing
@@benh5774 good luck from west Tennessee
But then you are comparing a 60k car to a 30k car, you could say the same about any car. If you get an actual 30k electric car then it would make a difference. I understand you are not for electric cars, but why make a claim like this, when you know tesla is supposed to be a "luxury" vehicle. I'm not saying it actually is, but that that is the price range tesla has set it self up in for now. There are plenty of electric cars in the 30k range.
Got a used Toyota Prius for 11k. I get 58 to 60 mpg to my work.
Winning!
I've got pictures to prove it.
Very informative but you forgot another variable in the equation: time.
Normally it takes a person 5 mins to fill their gas tank. How long does it take to charge at the supercharger?
Also, convenient fee. You easily find a gas station every 5 mins drive. How far does it take to drive to supercharger station? Is it mostly convenient for you??
Nice video, thank you for this. If you would have invested that money in tesla stock in March, you would have had @ $140k now. Insane
Dayummmmm
LOL. Nice comment.
That’s what I did! Maybe buy a Tesla courtesy of Tesla!
@@rubendominguez2868 you're a legend!
"that money"? Tesla stock tripled since March: $16k ("the money he actually spent") * 3 is $48k... not $140k.
How can he be disrespecting the Honda Fit like that. Those things never die. I got a 2007 civic with 260,000 miles and still runs perfect.
AND the number of hours sitting in your car during charging time, add to that, the half charge max in East coast cold weather!
@m mars This is not a gasoline powered vehicle. Since there is no danger of spillage and fire, you are not required by law to stay with your vehicle while it is fueling, as you are with an ICE car. Most people intelligent enough to purchase an electric car are intelligent enough to figure out that they can eat at a restaurant, shop, or sleep (at home, at a campground, or in a hotel) while the car is charging, so the time penalty is minimal. See my reply to Evan Wu above for more.
Thank you for giving us all your detailed costs. Operating a financial practice has given me some insights that may help you audience. First of all, you would need to compare the costs of similar cars. I suggest comparing a Honda Accord to the Model Y (not a BMW X3). Compare over 72 months. Here’s an example. Because the Base price of the Honda is less expensive, let’s say your monthly payment is $300 less. So 300 X 72 (months)= 21,600 extra you paid over the 72 months. Now comes the important part. This means your “opportunity cost” of owing the Tesla was 21,600. In other words, had you purchased the Accord you would have had an extra 300/month to invest over your lifetime. (Assuming you keep buying Tesla’s) If you can average 10% growth per year on this money, you will double your money every 7 years. Using a future value financial calculator your opportunity cost would have been 683,697 over a 30 year period. However, even if you stop buying cars after 30 years your costs do not stop. Had you this 683,697 it would keep doubling every 7 years (at 10% growth). So after 30 years, if you were age 65, then 7 years later it would be worth over 1.3 million and at age 79 over 2.6 million. If you died at age 86, you would have forfeited over 5.2 million of legacy to your children. And, the costs don’t stop there. They keep accumulating generation after generation. So you see, if you don’t factor in “opportunity cost” (as 95% of financial planners don’t), you are not getting the full story. (We are not factoring in trade in values or taxes in this simple example, which actually would make owing the Tesla more costly, unless you could write it off your business)
Finally! A well thought out and non-emotional analysis! And yes, you are right. If you want to purchase a Tesla, or any car for that matter, run it through a business or side hustle.
I considered Tesla, but in terms of features and driving range I found Honda CRV a much better value for money. CRV has very nice interiors and costs less than half.
I think you are forgetting the insurance premium, for me all the “fuel” savings are
Lost in insurance premium alone.
I just got a quote from estrange which bumped up 6m premium by $60 for switching from Honda Accord hybrid to model Y
Very good point, and in my state, I’d have to pay a lot more in property tax on the car.
FWIW My Model Y insurance is less than I was paying for a 2017 Honda Civic.
@@raygold1 was it a type r?
@@raygold1 I don’t know how that can be. If the value of the car is higher, it should cost more to insure it. Did you have a terrible deal on your old insurance policy?
That was excellent... You have made a sale for my new 2021 Audi SQ3. Your numbers were scary real and until Tesla's prices come down I'm not a customer.
It’s an expensive car for people that can afford it. I think it’s fine if you’re looking at a car for a similar price, but the huge downside is lack of service. My boss got into an accident with his tesla (wasn’t his fault and the built in cameras proved it) and it took 2 months or so to get it fixed. I think that is currently the biggest drawback/risk to having a tesla. Once their infrastructure for repairs and service matures I think the upsides will outweigh the downsides.
thanks for taking ur time on this video, its so helpful. thought about owning one myself so this help a lot! well done
Not at all well done!
Once we get 40% electric, electricity prices will triple minimum especially in California.
1 thing that goes unnoticed is tyres. You replace them earlier because all of that torque wears them out more quickly. Expect to get 30,000 kms only on a set.
Charging cost should include time cost as well.
I'm also wondering that. I can easily drive over 300 miles a day and don't want to spend my time at a charging station verses the few minutes it takes to get gas. Plus my current car gets over 600 miles to a tank of diesel!
@Evan Wu It effectively takes almost no time to charge at home in your garage while you sleep. If you take only a couple of long trips per year, the total time spent at charging stations will be LESS than the total time loss for a ten-minute gas station visit every week: 10 minutes x 52 weeks = 520 minutes or 8.5 hours. Most electric vehicle recharging sessions are 30 to 45 minutes at most. You might well get in 10 to 15 recharging sessions (while you are grabbing a lunch or taking a toilet break) in the same total amount of time you now spend waiting around inhaling poisonous fumes. Think about it.
If you can’t afford the payments over 48 months, you can’t afford the car.
@@justynthyme do you own your home or own your apartment ??? Seems like something someone who can’t afford things would say. Money is good to have fluid why blow your entire savings on a car when you can use that 50k to invest in other things and by 3-4 years earn that money back x2 in stocks and in real estate. having debt is a good thing if you think the richest people in the world don’t have debt then that’s why you aren’t making Tesla videos on your own 😂
@@justynthyme PREACH
If you can’t afford to pay the car off within 2 years, get rid if it - Dave Ramsey
@@justynthyme You will never own your home, even when you pay it off, the very ground you walk on isnt yours.
Well, even a Tesla lasts more than 4 years, so I do not see the logic. Of course its cheaper to pay cash, because interests do add up, but if you plan on keeping the car for at least 7 years, there is no problem with a 7 year loan.
My real concern with Tesla (or EVs in general) is that you run the risk that technology takes a huge jump. If Tesla does some of the things they claim they will do, like the million mile battery, the price of used Tesla will go through the floor.
imagine going from a 2008 honda fit to a tesla model y, that’s the type of upgrade my life needs
Just start a youtube Tesla channel. ;-)
Me too
It’s yours for a cool grand a month with good credit.
Recent Tesla owner here (2023 Model 3 RWD), your channel was recommended to me and I love it. Great video! It's crazy how expensive hydro is in California. I'm in Canada (Ontario), which does not mean cost of living is cheap to live here but I pay $0.08/kwh (Time of use off peak is $0.07 so I preferred to pay the extra $0.01 and charge whenever I want).
I just wonder how much it costs if you have to replace the battery?
Tesla batteries are warranteed for 8 years.
I think it's best to leave out the trade-in $500 (or any other trade-in amount), because it really has nothing to do with the ownership cost for the other vehicle. Good rundown other wise. I waiting on my CyberTruck (about 2 years out) and will do the math on it before committing to a final purchase. I will be replacing 2 vehicles (my 2003 SportTrac truck and a 2019 Honda Fit) in 2022/2023 when my number comes up.
Unless there was something majorly wrong with the Honda Fit, he got hosed on that trade-in. I see high-mileage models going for $6k+ today.
lol $65k on a car and he talks about $500 in gas as being a significant savings. If you're spending that much on a car, nobody cares.
i was thinking the same...
I don't even care and my cars are worth a few grand tops. All of my Infinitis get 15-18 mpg lol. I still get the same range as a pos tesla...except I can fill it up anywhere and doesn't matter when I forget to refuel for that same reason.
And, nope, Tesla performance models can't even out-perform them. Booooost.
Great break down and enjoyed how you covered the topic. But theses type of cars don't work for everyone. I'll stick to my 1ton dully and 93 octane SS trailblazer. Keep up the great info amigo
I’m curious on your upgraded suspension. What the name of your aftermarket shocks, Where did you find the data to upgrade, Where did you go, what was the cost and how do you like it?
Solid video. Only issue is that the Model Y is not a luxury car, like the BMW. People treat it as such, but it's just not. It's definitely a premium EV, but that's the most accurate way to describe it.
Thanks, your Honda was not terrible because you got 200k miles out of it.
Thats it 200,000
The Tesla symbol is really an anchor when you turn it upside down to payments that you surely will not enjoy
They also depreciate rapidly toward the end of the warranty. The battery packs and drive units will fail by the 10 year mark making the car useless. Gas cars last 25 years on a average. The additional insurance will be more than the gas savings, not to mention tires are very expensive.
But you haven't mentioned your time for waiting for charging, which has a cost??
Its because you lose less time charging an electric than with a gas car, people are charging their car 98 % of the time at home while sitting in their couch while a gas car user will lose around 2 to 10 mins every week depending on where is the gas station plus the time to fill up. My neighbor has been driving his electric car for 4 years every day and he has not charged anywhere else than at his home yet.
@@bobwesley4634 and in that case, home charging is the cheapest available, especially when charging at low peak hours. The video I just watched broke down the math. 100k miles cost as little as $300.
When I charge my EV outside of my home I take a walk, go eat, grocery shopping, watch a video or something else. So you don't have to sit there doing nothing. I would say It's kinda relaxing to just sit there though in this stressful world.
What? The charging that prob comes from a coal fired power plant ? LMFAO
@@jamesjoslin7586 Luckily i live in Sweden with great green energy alternatives. We don’t use coal power plants.
How much the battery will cost you though after 100,000 miles?
Please include life cycle costs. We own cars over decades and I am interested in cost to change batteries every ten years. The other analysis is how often should you buy and sell.
So, basically, to make it appear cheaper to own, he had to ignore some of the costs, include subsidies, and compare it to a BMW.
Lot of creative accounting to juice the numbers.
It was a fair comparison.
Tesla is viewed as a luxury car. It had brand appeal.
The initial cost and depreciation is the biggest chunk. This is why some cars are worth paying a higher price for because you can sell them for more later. Sure if he bought a similar sized car but cheaper, the money saved would probably pay for the fuel until he sold it.
At the moment Teslas have high resale value compared to regular cars. Personally I think that is mainly due to the lack of availability. 10k to turn on a software feature and be a guinea pig is a rip off IMHO. Some dude used the auto park feature at the cars suggestion and Tesla told him "bad luck" when it failed and damaged the car.
Of course, (I admit I skipped a lot of the video, hoping for a simple chart at the end), what price on convenience of recharging and range etc.
It sounds like his car is more of a toy rather than used in a practical way most people use cars. 2 hours to "refuel" or 3 minutes?
He utterly skipped the home charger cost of ownership, but did cover the cost of electricity, and completely ignored the road taxes you pay in ICE cars which will 100% come to EV and already are reality in Norway making the cost of transport ~equal if the car cost upfront is equal in said country... Example: ~30mpg and each gallon has ~$0.50 in federal road taxes + local taxes. So, each mile driven has a TOLL(tax) of ~2c/mile and is even higher for diesel. Thus, his 14,000 miles driven will have an additional TAX of $280 that the government will 100% guaranteed get one way or another in either supercharging taxes/kWh, or in license plate taxes, or tabs or.... So, his $500 saved in fuel each year is in fact ~$200. Nothing to ignore, but not exactly a giant selling point.
And compare it to an expensive X3, when in reality the Model Y is more similarly matched to a cheaper X1.
@@OldCharlieRum1903 and the fact a Bmw will have better build quality. Some of the comments on forums and UA-cam reviews showing bad paint jobs and panel gaps etc doesn't give great confidence in Tesla. I bet most people could pick up a Bmw x1 on the second market and afford it unlike a Tesla
And I was so close to buying an EV! Thanx for giving my head a shake!
Last year I got a year-old Nissan Leaf for 20K and I love it. The EV market is not just Teslas.
No matter. 10 years from you will be forced into buying one. They are the wave of the future.
Cost is still WAAAAAY too steep to upgrade. I will wait. Right now, the cost of my paid-off vehicle is about $300-400 a year. Hard to beat that, especially when your monthly payments are... 2-3x that. Yikes.
Arguably, the best and most articulate video description I have seen. Thanks.
Your charging costs do not factor in the loss of power through conversion. The values for the supercharger and your home charging will be different.
you traded your honda fit for $500, notify me when you trade in your Tesla Model Y!
but don't worry, he saved a whopping 500 bucks in gas!!!
Outstanding breakdown and explanation of your costs, even if most folks couldn’t stomach the payments (by reading the comments). Thanks for doing this.
as the old saying goes , a fool and his money are easily parted.
Elon goes to Larry, hey man would you float me a couple of billion until my company actually starts to return a profit?
Larry "Fuk No, you moron, dreaming about your futuristic reality!"
@@richardshane456 it has been turning a profit for about a year and 3 months by now..
@@romanplays1 you think or you know
He's a smart smooth move he leveraged a lot of people to create an asset allowing him to seek his vision I don't take anything from him about that
My concern is being disingenuous about a product that has just been put on the global stage as a possible cure all
Let me see the books and I'll determine if he's made a profit from the sales of his products and services not from promoting stocks and bonds and all the other beneficiaries of monetary quantitation
Ty
Good luck on your endeavors
Peace and love always
@@ChrisRGB how about a link to Tesla and subsidiaries for a peek in to the financial liquidity of this corporation...???
@@romanplays1 CEO since 2009 I believe and he was burning thru money at a loss for years. Almost went under, so turning a profit for about a year and 3 months now is not impressive to me bud. Here’s the real question: Can Tesla sustain themselves in this type of market? We will see soon enough.
How much is your insurance? How many charging stations are there across the country? How long do batteries last?
What happens when your battery fails in year 5?
Dude, thanks for the interesting info, but ... I would not include the downpayment in full in the 9 month cost or I would do a second alternative where I would amortize the downpayment over the full number of months you plan to own the car. I would also suggest doing a lifetime average cost per month and year and comparing that to an ICE vehicle. I would even do a comparison for your Honda Fit (avg / mth over total life) and for the BMW X3. I have a Model Y that I'm due to take delivery of within the next week. I have owned 3 BMW 5s over the last 25 years. I buy them as they come off lease (to avoid the initial depreciation). The first one I had for almost 10 years and planned to get to 200k miles but I was forced to trade due to needing 2 big repairs that I was not going to pay for on a car that old. The next one lasted to 100k before the same scenario and the last one is at 75k and I'm bailing because of a $4,000+ set of needed repairs. Each has cost me more each year due to the shortening lifespans. I'm paying more for my model Y than I ever have for a vehicle but I expect to actually get to 10+ years and 200k+ miles this time with the only big expenses being tires, brakes, and possibly some suspension repairs due to wear. I calculate that this will be the least expensive vehicle -- n terms of the total cost of ownership per month -- that I have ever owned.
Same, I’ve owned quite a few BMWs, they’re the only cars I’ve purchased. I started with a 323i and progressed to 528iA, X5 and another X5. Traded in the 323 for the 5series, hydroplaned in the 5series, the air suspension went out in my first X5 leaving me with a lowered backside so I traded that in for my current X5 that’s having a repair bill of $5k and the Model Y is actually the least expensive vehicle to buy at this point. I would like to add though that all my BMWs achieved high mileage before having to come into high repair bills and I’ve owned them for some time. My current X5 is a 2012 and a friend wants to buy it from me at $8k because he only wants it to transport his grand daughter in 🤣😂 because he has a brand new Camaro.
But I’m waiting on a few things to be added to the model Y before I order mine.
Christopher K. What are you looking forward to being added?
Looks like you would have, almost certainly, done a better job than he did.
@@DanielEndy2 the new center console and hoping heated steering wheel and really really hoping they surprise me with a magnetic suspension or something 😬 and the new unibody casting.
Yeah, the guy is a long way from being a proper accountant. Btw, the comment immediately above yours on my screen (from a "dalton knox") claims it will need a total battery replacement ($12,000 or $24,000, can't tell what he's trying to say) every 100k miles.
This section is fizzing with hatred for Tesla. Just red-hot, fists-clenched, blurred-vision anger.
Hi Ryan, great video! Thank you for taking the time to breakdown your cost. I have one issue however and it's not just with your video but every price breakdown of owning a Tesla I've seen as well. People always say that the price of electricity is cheap and "around x cents per kw". Usually anywhere between 4 and 10. Yet I find that this is never the true cost. I own a model 3 and was surprised to see how much I was *actually* being charged from my utility company (this shock is also related to having my own house for the first time and constantly seeing the breakdown of a full electricity bill). What I see on the bill is that electricity is rated at around x center per kw (as everyone says) but the utility company also tacks on a bunch of extra charges, mainly "delivery". This shoots the true cost up to anywhere between 18 and 25 cents per kilowatt for me. I was so surprised that I asked some family and friends to send me their full electricity bill. This seems to happen all over from what I can tell. I've seen bills from MA, NH, CT, GA, and TX. Perhaps a video better explaining this would a good next topic for you to cover.
One more of those Murican mind-benders like price tags without tax on them
So YOU'RE that one black guy that drives a Tesla! I think I saw you the other day!
What you are experiencing is a rate hike in the cost of power. When the EPA decided coal power was bad, the only alternative was a more expensive source for your power. Since 2006, most people have seen a doubling in their electric rates. Add inflation to this cost and it looks even worse. It's most prominent in the NE since a lot of coal power was turned off in the NE.
I would say I feel sorry for people eating these rates, but the reality is I don't. When you remove a cheap source of energy solely due to political activism, you get what you get. You're voting yourselves into poverty.
@@bobhabib7662 Good comments Bob , from up north in BC Canada , it's going to be many years , a much better more practical product before I would consider purchasing a electric car.
I would have given you $600 for the FIT. Reach out next time. ;)
I would have given $601 for the fit.😎
Have to factor in sales tax for private sale of the Fit.
$625 for your Fit
@@vinnieng1216 LOL right? that fit couldve probably gone to 350k
@@vinnieng1216 a Honda motor? No doubt about it
Looks like one of the most important factors is omitted here (as is the case with most comparisons and calculations like these): battery capacity reduced with time and battery replacement cost. Also, a luxury vehicle such as BMW is not an appropriate comparison with Model Y, which is premium. There is a distinctive difference between Premium and Luxury.
The NCM battery is expensive. Wuling Hongwan, 300 km NEDC range, very small 4 seater. You either get a trunk or 4 seats for two adults and two kids in the back. Cost $5500 in China. Made by a joint venture between Wuling GM and SAIC.
If the self-driving upgrade is only software, it seems overly expensive.
It’s not just software if you include all the included cameras, radar, and r&d
I charge my car at home for 4 cent/kwh( included all the fees).
Paying 22 cents after all fees in CT.
.24c/kwh in MA!
Thats is... so very cheap
32 Eurocent in Germany!!
One of the best videos I’ve seen about owning a Tesla by the way paying $816 + car insurance was close to 1k a month but maybe the shocking part for me was the monthly insurance payment I was expecting more in the car insurance especially after going from a Honda fit to tesla!
Coal isn't 'zero emissions'. Battery replacements will probably dull resale values.
Holy cow!! His car payments are super high!! Some financial experts say you should not buy or finance a car that is more than 50% of your annual gross income.he seems very happy with his Tesla. Thank You for the video.
Ryan, very frank and detailed breakdown, and like the lessons learned regarding loan and insurance too.
Thanks for the helpful breakdown. Definitely solidifies that I can't afford a nice vehicle like this for probably another 5 years or so.
There are other EV options out there that will not break the bank. Bolt, LEAF Plus, Model 3 SR+, Niro EV, and all of the used options as well.
@@pioneer7777777 thanks! I'll definitely look into it
Good video. I'm weary of the KBB trade-in value though. Will Tesla take back one of their cars as a trade-in say wanted to upgrade to a new model S, X or 3? How much would Tesla give you for the Model Y? I think it would be good for viewers to share what they were offered if anyone has successfully traded in any model Tesla for either a new Tesla or a conventional car to see how accurate KBB's Trade-In Value calculation is. I learned a lot. Thanks for taking time to make this.
I just ordered a Model 3 ER. Wells Fargo rate is 2.49% but when I used my MAC Numbers formula it comes out to be 2.53%. The down payment is $576 the principal is $49,000.
I changed the loan down to 5 years. My Investment account returns 4.4% so I will be paying the loan off with inflated cheaper dollars. NJ has no sales tax and gives a $5000 rebate.
the cost per mile comes out to the same as my 3.5 yr Volt.
What it ultimately comes down to, if a person can afford it and wants to enjoy and splurge a bit in life? Why not, get your priorities set of course first, but after that if you got wiggle room and want to enjoy life? Do it, purchase what you want and do what you want. You don’t take your savings when you die
This made me nervous about not including glass damage coverage in my insurance policy...
My Toyota was also only $170 to replace whole window.
I have a 2017 Honda Civic...luckily windshield replacement is zero out of pocket with my insurance (Plymouth Rock).
Definitely very expensive not to burn gas, I'll go with a used one in a few years but they're still a depreciating asset
You're right. The numbers really work best when you're comparing a premium car of the same comprable price to the Tesla. Honda fit's are going for around $16,000 now. That's a big difference. Also you'd save a little bit uninsurance. Hopefully one day they will have an affordable electric car for the masses.
But the reality is that the Tesla ride, interior, comfort and quality feel is a longshot from the premium.
I personally ain’t looking forward to any electric vehicle
True my girlfriend has an 11 year old Honda Fit worth as much as she paid for it ($8,000 lol) over 5 years ago and it gets 30-40mpg. The insurance on these Tesla’s are insane so there’s no real cost saving or justification to have a car payment to save $100 in gas and pay more in insurance. It only makes sense if someone is already spending $50-70k on a vehicle and wants something that has a little bit of everything and will be cheap to run.
I’ll get a model Y blacked out performance in like 2 years when everything settles down they’re phat
Why did you upgrade the suspension? What brand do you recommend? Does it void the warranty? How much did it cost? Thank you.
When do you expect to replace the battery
Pretty helpful in how to not buy a car.
Lol
Especially a Tesla!
You’ve been a great influence in my introduction to Tesla. I paid my $2,500 down payment for a RWD Long Range Model Y in January, but modified it last month to a AWD Y in red also. I opted to pass on induction wheels based on reports of tire damage, and don’t need (IMHO) FSD, but did add the hitch. I’m expecting delivery this month, and already have a home charger from my stint with a Kia Soul EV, so I’m super excited. Thanks for all the outstanding reporting and guidance this past year.
You're a liberal
You know it's a Tesla 'mania' when a reasonable, sane $500 Honda Fit owner thinks it's a good financial decisions to buy a $63,000 new car to get around town.
I don't think buying the Tesla was smart. Use that money to invest in something and keep using the fit. I mean, the paint job of the Tesla alone costs more than the Fit.
He could have purchased 2 brand new Honda Fit.
in NY it would cost ~$26 to charge model 3 standard range plus (263 miles) which is about the same you would spend to fill up a 2006 honda civic (390/520 city/highway miles). So buying a $70k car vs buying 3k car (in great condition). you can swap the whole engine for under $1k on honda civic or just buy another car vs paying $1k for a windshield.
But where and how did you drive it ? Long trips say 800 km
Do you drive fast do you tow a trailer how much weight of passengers and luggage etc ?
All of these need to be factored in
$900 every 6 months for insurance is insane to me. I pay $165 every 6 months for liability on my truck. I pay $120 annually for full coverage on my motorcycle. Full coverage on a brand new ZL1 Camaro is $625 for me.
With as few miles as I drive, the savings from buying electric instead of fuel doesn’t offset the cost of insurance for me, let alone the price of the car itself.
My Mercedes EV is lower in insurance costs than my last Mercedes diesel.
holy crap. so you bought a 100000 dollar electric car to save 500 dollars on fuel?
It’s still less expensive than BMW X6
He utterly skipped the home charger cost of ownership, but did cover the cost of electricity, and completely ignored the road taxes you pay in ICE cars which will 100% come to EV and already are reality in Norway making the cost of transport ~equal if the car cost upfront is equal in said country... Example: ~30mpg and each gallon has ~$0.50 in federal road taxes + local taxes. So, each mile driven has a TOLL(tax) of ~2c/mile and is even higher for diesel. Thus, his 14,000 miles driven will have an additional TAX of $280 that the government will 100% guaranteed get one way or another in either supercharging taxes/kWh, or in license plate taxes, or tabs or.... So, his $500 saved in fuel each year is in fact ~$200. Nothing to ignore, but not exactly a giant selling point.
You gotta remember that this guy makes a living off of Tesla, definitely not your average joe.
@@BoleDaPole Precisely. He had nothing bad to say and 9 months is too soon to come up with cost of running figures.
Yep and the replacement of there light globes are $2000 each
I like to buy 10 plus year old cars for $3000. I fix them myself, drive for 10 years for about $3000 in repairs. Not sure how buying new cars saves any $.
It doesn’t save money in your case buy it saves time, which some people value more than money.
@@williamconrad1087 For some folks I guess that may be true. Being that I used to work on cars for a living it does not take me as long as most folks either. Hours wise I may spend two days a year doing everything. Brakes, bearings, belts, gaskets etc. Giving up a few days time to save thousands is a great trade off for me but not everyone I guess.
I used to do that, as I've driven company vehicles for 30 years, so don't rely on a personal vehicle to get to work.
Then I realized I'd rather not die horribly in an accident in a cool old car, that I would walk away from/avoid in a boring modern car with the latest safety tech.
I live in a major metropolitan area where virtually every trip involves a freeway, and it only takes one distracted idiot to change/end your life...
@@williamconrad1087 Sitting for hours a year waiting on battery to charge? And with the Cali electric grid, they may have a bigger issue.
what about tires? heard they last 12 months, versus up to 80k for gas cars
Good breakdown! Your data = objective. People in the comments screeching about "expensive" = subjective. It costs to have luxury, and honestly at $55k, its a fair price.
Hello, Ryan thank you for the video, a great topic. I have done the math and would be paying 15.50 for a full charge at home.
@R3BOUCAS when you charge during "off peak" hours, your cost goes for 15$ to like 2$.
$19k in 9mo? What a great savings.
Wow, I have 250k miles on my Tacoma with a monthly cost of 200/mo. Gas and full coverage insurance included. Almost bought the performance model Y and realize this makes no sense other than owning a luxury item. I invest 1-2k/ mo more on stocks and dividends every month. That’s my way of going green. ; )
Same. And as much as folks love to say Tesla’s are luxury cars they aren’t that nice. Even a fully loaded S is about as opulent as a base Mercedes.
I am with you buddy, I reserved the cybertruck and immediately started investing $600/month. I'm driving 99maxima and happy with it. I already know there's a 50% chance I probably won't end up getting the cybertruck but wanted my place in line just incase.
Smart man!
I paid 3k for a crown Vic, cash. Still driving it after 8 years, spend 500 on has per month, 50 on insurance, and 80 on oil change every 6 months. No issues
The best monetary strategy is to keep driving the same car for the life of the vehicle. In many cases that means 10-15 years or more and +300K miles. Compare the cost for repair of an out-of-warranty EV that requires a new battery ($10-15K) or a comparable ICE vehicle that needs a new engine ($3-5K).
Good luck selling that BMW in another 3-4 years.
😂
I'll take the 3-4 year old BMW over the Tesla all day.
@@robertpolkamp Cause you’d rather have problems and huge depreciation😭
there goes my tesla dream. time to wake up
I just find it hilarious how Tesla was initially a luxury brand and Elon said it's too expensive
How much will it cost to replace the batteries once they start to degrade to the point it isn’t worth charging them and how long will that take? What will your efficiency be and how many more times will you have to charge once the batteries no longer charge to full capacity?
$13-$15K