@Kingsley Sun Can you drive a RAV4 and never charge it? Does the RAV4 have the highest safety ratings in the industry? Does the RAV4 last for 700,000+ miles? All these questions change the buying equation. Enjoy your RAV4. I will buy a TESLA.
Yup. Its why I'm looking at rivian still gets the ev credit. Also I'll more than likely not nearly drive as many miles! Ryan must had made alot of content this year.! Great video Ryan.
Wow, those costs sure add up. Bought a nicely used 2002 Passat in 2003 for 16K cash (about 25K new) and it still looks and runs great. It sure has saved me a lot over the years and my yearly registration fee is only $143 (in CA). I think I might stick with that car for a few more years. I'd never trade in a car either as you'd get way more for it selling it private party.
@@Uncommonsensetoo Smart buying used gas vehicle. Never get rich buying expensive cars on credit. I have only had one new car in my life and because of things like that I was able to retire at 59. Debt free, two homes, couple of Mercedes and an airplane.
You ignored that a RAV costs $26K. Even if you buy the most expensive RAV, the plugin version at $38K the monthly payment will be vastly less. The savings on fuel means little if you are counting dollars.
No he didn't. This isn't a RAV4 vs Model Y cost comparison video. He just used a RAV4 gas cost vs electricity cost of Model Y. He should compare it to my Jag...17 MPG. Then you'll really see some savings.
Break even for Model 3 vs commuter ICE car is 4-7 years. Tesla designs their vehicle for Million miles (batteries ~400k), ICE cars rarely see much over 250,000. You will need to buy 2 RAV4 cars before you have to replace the batteries in the Tesla. That puts the 2 cars at cost parity assuming 0% inflation. If you factor in ICE maintenance, particularly toward end of life, the RAV4, assuming 0% inflation will be more than double the Tesla cost in a 15 year term.
So I configured the exact same car here in Europe: 78000$.... So yeah. ICE is still cheapest here, by a lot. Especially with those exuberant Belgian electricity prices.
The only problem with your comparison to the RAV4 is ..the RAV4 price. With the money you can save by buying a RAV4 instead of Tesla you can buy gas for an eternity. 28,000 vs 63,000 plus interest, plus the inconvenience of charging, ...I don't understand why anybody thinks this is a good deal. In other words, with the 35,000 $ (only the price of the car) you save with the RAV4 you can pay gas for more than 312,000 miles, the equivalent to 18+ years of ownership at 16,628 miles per year...and by the way, your RAV4 is probably is going to be running after 18 years If you only drive 16000 miles a year..Tesla will see..
Thank you, Ryan, for this very thorough and honest breakdown on ownership costs. I bought the 2021 Long Range Model Y and could not be happier. It is by far the best car I have ever owned - perhaps the best thing I have ever owned. Wishing you continued success with both your car and your channel.
So would you recommend the model y over something like a Toyota Corolla I’m only really worried about it’s cost and it’s charging time so would you think it’s worth it?
60 thousand paid for Tesla comparing to 42 thousand Honda Pilot exl awd is not saving no matter what gas $/gal is!!! I like what Tesla do, and I would like to have one, but my math calculation is not justified to jump on Tesla Y model.
800 and change for monthly payments is A LOT! Definitely wouldn't be able to afford that even if I wish I could, that's almost as much as my mortgage 🤯🤯
Look at his battery costs. $11,000. I've been told by T owners that aver life of battery is,130,000mi. So trade it in? If u get used car u have to consider the miles in its battery
0:00 What will be in the video 0:45 The configuration that I went with 1:05 My opinion on Tesla's calculation on money savings 1:25 My order's pricing 1:58 Base price of Model Y 2:16 The off-menu standard range Model Y 2:35 Taxes and fees for my purchase 3:22 Rebates and incentives 4:29 Charging costs 6:39 Cost comparison with equivalent gas car 9:21 Net savings 10:15 Maintenance cost 10:29 Insurance cost 11:14 How I paid the car? 12:21 My first year payment details and what yours will probably be like 13:30 What if I didn't seek better interest rates through refinancing 13:44 How are Tesla cars valued overtime 14:04 How much would my Model Y be priced if I trade it after 1 year? 14:15 FSD cost (I purchased it after delivery) 14:44 What payments are next for me? 16:31 Last words from me for this video
I didn't spend the money on a home charger. I went on Amazon and bought the appropriate 50 amp plug and weather proof box to mount on the outside of my garage for 50$ and wired it in myself. Saved way over 1000$. It charges a tiny bit lower 30 miles an hour instead of 37 but it never matters. I even turned the charge rate down a bit so it actually takes a little longer than it could but it's better for the battery to charge slower and it still only takes about 5-6 hours generally to charge over night
The one I used was the Talon LGP1S 50-Amp enclosed outdoor rated receptacle. It's in Amazon for 72$ Canadian. It's the same plug pattern a range would use it's a 50 amp 14-50r plug. You can do it even cheaper if you are installing it inside your garage. Then you literally can just install a range plug that u would use for your oven on the wall of your garage. I had to put mine on the outside of my garage as we've converted the garage into a building for a business we run so we don't have any indoor parking. I wish I could put a picture up on here of what it looks like installed.
Great video, but I would have mentioned the significantly lower base cost of the RAV4 when doing your comparison. It’s so much cheaper to purchase that over the lifetime of ownership it’s still going to be more economical. Tesla’s are still way cooler and feature packed. Great job and I subbed to your channel!
I live in ID and got rid of my 2020 Sentra for a model 3 long range 2021. My registration cost me $5 to transfer and $90 for registering an EV since you don’t pay the gas tax. I’m $110 a year for registration. And 6% sales tax instead of over 10 helps. Currently my charging over my first month has made my electric bill not change at all yet (level pay at $44 per month) and so far this month I’m estimated to use $40 in electricity even with relatively consistent charging at home. I also pay 10$ at a supercharger to get a full battery (80% not 100) so its really nice, no issues at all so far and the recent boom box update has made my car fun to sneak up to people at work and use the DJ horn to scare them.
Not many people calculate the full cost of ownership for their vehicle. It's insane, after working it out and saving a bunch of money driver a motorcycle again, I don't know when I'd be prepared to pay for a car again.
@mugenctr yea, that’s 10x+ cheaper. I got two Acuras around my 17th birthday. One fell asleep at the wheel and totaled the entire driver side on the median, brutal but cosmetic outside of the doors being inoperable $500. Got another who never changed the oil and cooked the engine $500. Swapped the front and rear quarter panel and doors then sold the bad motor one for $200. Got a great car only 6 years old with 30k miles for $800 and drove it for 5 years before it was too expensive to fix. I want an electric car like much of America does, but they are still unaffordable.
I bought new a 2018 Hyunai Ioniq Hybrid for $26,500 including all taxes, registration, fees, and a 100,000 mile extended Hyundai bumper-to-bumper warranty on top of the standard 6-year bumper-to-bumper and 10-year 100,000 miles drive train warranties. Moreover, Hyundai guarantees the battery for life to the original buyer. I get an average of 55 to 60 mpg in combined city/highway driving. Range on fill-up is about 650 miles on the 11.5 gal tank of gasoline, which is twice the range of this model Y, and fill-up at a gas pump is much quicker than charging a Tesla on a trip. You can find gas stations in just about every city and small town as well as in the middle of almost nowhere, whereas charging stations are harder to find in remote areas. So I paid less than half as much as this Tesla cost, and my gas consumption cost is twice as good as the gasoline car used in this comparison so the per-mile cost is not as different as in this video's example. I love the car. You'll need to do your own math to decide what type of car is best for you and the way you use it. And when you compare an all-electric car, be sure to include a term for the eventual battery replacement.
Hi Ryan, good video. I enjoy watching you on UA-cam. I have a model Y, which we took delivery of on Dec 24th and live just outside of Toronto Ontario. The spread in cost between gasoline and electricity in my case is mind boggling. Keep in mind, the model Y is substantially more expensive in Canada than in the US, even factoring in exchange. The LR model Y is 70k. Even with a GENEROUS exchange rate, the LR MY should be a maximum of about 67 to 68k. Now on to the good news, Our electricity rates are adjusted on a fairly frequent basis, but they don't change all that much. Right now off peak is 8.5 cents per kWh and then they deduct the "Ontario electricity rebate" of 21.2%, so off peak is actually about 6.7 cents per kWh. (About 5 cents USD) and gasoline is currently going for aprox 1.25 per litter which equals about 4.73 per US gallon., so my wifes 100 mike daily commute used to cost aprox 20 per day in her 2012 rav4 and now costs about 2 bucks on electricty. We also have free supercharging for a year, so we could save huge if we utilized that. There is a supercharger very close to us as well, but the convenience of just plugging in when you get home and paying 2 bucks seems like a no brainer. Plus supercharging often doesn't sit well in my gut( no evidence, just gut) for battery life. I figure we should be saving a minimum of 3k per year on fuel. Plus pulling into my garage and having a "gas station" right there can not be over stated on the convenience factor.
If you borrow at ~2% you’re doing better than inflation, currently. With low rates you should take financing for as long as you can, and as time goes on you are paying with cheaper and cheaper dollars. You can do better putting your extra cash in the market and beating a 2% return. The average joe will stay poor because they don’t understand the time value of money.
Don't forget in your cost of ownership to include the increase in equity in the vehicle, if you're making payments. You paid $8k in principle over those 12 months, depreciation will eat some of that, but it still lowers your cost of ownership substantially.
Great channel man - glad you are surviving while posting vids with some critical analysis of Tesla! (I have 2 teslas and huge Elon fan, but rabid reactions to any even mild critical reporting on Tesla disturbs even me). In NJ we have much better deal: no sales tax, 5k state tax refund, plus I get 4k EV refund from my job (large US bank). Saved me 15k!
Add to that the fact that the RAV4's 31 mpg would likely be on the highway (when you're doing the Supercharger) and probably closer to 21 mpg in the city (when you're fueling through your home and more fuel efficient with driving), your fuel savings were probably much greater.
Edison charges generation and delivery fee per kWh. It’s still slightly cheaper than superchargers and more convenient. It’s still cheaper than gas. I traded in a Prius and i get somewhere around 48-51MPG. I still save money on gas when compared to my previous car. I have mine scheduled at 2am. I recently added additional solar panels. I now have 35 panels. essentially, my charging is “free” at home. I was curious about the mobile services. They charge $40 for tire rotation and about $70 for cabin filter change. You can get tire rotation free from America’s tire. I also had to replace a tire due to puncture damage. Usually replace in pairs and was able to replace a pair of Bridgestone (19” size) for around $450. This model is i believe V rated where the stock i think is W rated. The rating is related to wear and tear as well as top speed it can “handle”. Just wanted to share what I’ve paid so far for maintenance on my Model 3 Dual Motor with the 19” wheels and 16K miles driven in 1 year.
did i hear it correctly that you traded in your honda fit for $500 ? If yes, wouldn't it be better to sell it otherwise which i believe would be at a much better price point ?
We were looking at the model Y last week. After going through the Tesla web forms, it comes out close to $60k. This video gives us a better view of first year ownership costs.
Your electricity prices in CA are very high. Here in South Florida, my charger is metered at a condominium where cost is only 9 cents/kWh. Standard residential rate is only a penny more.
@@LTVoyager My electricity in Houston, TX was from 100% green sources and cost 11c /kWh. Location matters more than energy source when determining cost. Besides, there are always hidden costs to cheaper products or energy sources. It's cheaper to dump waste into rivers rather than disposing responsibly, but it harms the environment. Fossil fuels might be cheaper than green energy in some places, but it's harmful to the environment. Same principle.
I’d want to look at the life cycle cost of the vehicle, probably over the life of the loan. Sounds like the big advantages are the lower depreciation and some fuel savings. Initial cost, insurance, tires offset those advantages though.
This video was certainly interesting, but what really would have been helpful is to show a comparison to the RAV4 or other equivalent vehicle. I can’t make the numbers work at all for me personally. I tend to keep vehicles 15 years or 200,000 miles and I really don’t think an EV battery will last that long without significant loss of range. And with the purchase price being 60 - 80% more than a similar ICE SUV and the insane tire life and costs, and given I do my own maintenance at costs far less than dealer service rates, the numbers just don’t work at all. I may still buy a Tesla for the fun factor, but I won’t delude myself thinking it makes sense financially.
I think the biggest difference for us in the UK is insurance costs. I drive an electric Nissan Leaf, about 13000 miles per year. Fully comprehensive insurance on the car for me and my wife costs approx $350 per year! Even if I was as young as you are, I can't envisage a five fold increase.
I'm a Realtor and I am required to have $500,000 in Vehicle coverage. Houston Texas is #2 in the country for insurance rates. I was quoted $1,800 per year for full coverage vehicle insurance for the model 3. If we get a Telsa we will do 99% of charging at home, since we have an ICE Jeep for long trips.
Some interesting points- I wouldn’t expect to spend much on maintenance on any new car in the first year. It is in the subsequent years particularly as the mileage gets 60k plus that I would see the real lower costs of ownership
It would be interesting to see a cost comparison with, say, a BMW X5, or other comparable car up to year seven. Sometime around the 5th year of ownership, BMW’s and similar cars, get very expensive to own.
@@vadacoo how much does it cost you to service the Macan? here where I live a normal service can go up to 350 USD just for an oil change and normal inspection... a major service goes up to 2k ouch
This is an excellent video. I am only halfway through it and so many of my real concerns have been answered. Great information in regards to the rebates and tax credits.
My Nema 14-15 charging station in my Condo garage was $4500 which I offset with the SDG&E rebate of $4500 for my Model 3, Oct 2019 Tesla. The decision to purchase was the 2 year free Super Charging, which I used about 1 year while my HOA decided to let me install the charger. Condo Charging stations billed directly to my electric system seems to be much more expensive.
I pay 4 cents per KwH to charge my 2019 Chevy Volt at night, or charge free at solar panels a 10 minute walk from my house. I paid $19,500 all-in out the door for the car in January. I financed the entire car at 2% for 5 years. The car was basically new with only 3600 miles. Leather heated seats, leather heated steering wheel. I like Teslas but I got 90% of the electric car experience for 1/3 the cost. As far as Tesla’s holding their value, I don’t find that to be true. Asking prices appear to be high but I watch them and they don’t sell, they just sit.
Ryan, 2 questions - 1. Why do you need new tires already after 1 year and only ~16k miles driven? Very confused how you already need new tires here. 2. Do you know if you can install run flats on the 20” wheels? Since Tesla doesn’t give us a spare nor use run flats I’m very curious. Thanks
You didn't discuss the extra cost of Insurance for Telsa models. AAA charges about double what a similar gas-powered car would be. I asked why - they said because there are no ( not yet anyway) 3rd party places to get parts. Telsa is only supplier of repair or collision parts - thus the larger expense.
Ryan when you calculate cost of gasoline your cost per gallon has tax built into it. I'm not from CA so I don't know how your electric bill costs but here in IL my electric bill has a bunch of taxes per KWH (charge multiplied per kwh.) These taxes actually double my cost per KWH which is only fair to consider for such a comparison and one thing I consistently find missing in the Gas vs electric comparison. I typically find that tesla supercharging costs are about the same as at home charging costs when you add the taxes you pay per kwh on the bill. That's based off Illinois of course.
Great video Ryan with complete analysis. You did leave out the expenses associated with paint correction, ceramic coating, and PPF. I think you had a video that showed that you did that work on the car, as did I.
Great video! I love Tesla and what they're accomplishing... If I were to buy one of these at 58k cash I'd have to drive it 242k miles to stand up where my current 4 cylinder cars' true cost stands. Between oil changes, ALL maint cost, gas, and purchase price I have spent close to 42k on a 20k ten year old car (new when I purchased). True cost for my gas car is ~$0.24 per mile at 182000 miles. Teslas cars true cost at this price point I would need to drive 242k miles...and that is not factoring in charging cost beyond a year. However Tesla's will be far more cost effective the longer you own it..banking on durability and next to zero maintenance cost. Initially it's a lot of up front cost, cheaper later. I encourage everyone to do the math on their own gas car for comparison
Do you track on TeslaFI? kWh consumption is not only driving usage. Don't forget to account for phantom drain (especially when using Sentry Mode). You would be surprised at how much that adds up to in a year.
Dude that’s was clear!!! Good info there too Thanks for the hints I’m waiting for my model Y It was supposed to be delivered to me 8 weeks ago and I’m still waiting for it Let me know if u want to review my delivery I’m in LA too I’ll keep u posted 👍
As per my calculations your home charging cost would have been only $160 if you lived in india Here electricity price is same all time and petrol is very expensive
But india solar effective and very cheap. 4000$ enough to install for a big home. So car buyers use that in future. India will be producing more electric cars than any country as ev much econimic than ice in india.
@@californiaplant-basedeater2761 Most people that buy luxury vehicles don’t keep the vehicles more than 5 years. Most gas cars have more expenses the older they are. There are many factors that can influence whether it’s cheaper.
Loved the comment about replacing the 12V battery. My brother-in-law had his die without warning on his Model 3 within 2 years. Tesla came out to the house to replace it, but when he inquired about why it died so soon they just shrugged and said it was a common problem. Luckily it was at home in his garage.
The 12v batteries apparently die for multiple reasons. They're lead-acid so they're not going to be good for many cycle lives. They can discharge too low if the car is left sitting for too long. The DC-DC converter that charges them from the main battery can also have problems. These are several reasons that Elon wants to switch the in-car electronics & computers up to 48v and use Li-ion. The 12v systems are legacy automotive systems. Tesla uses them because most of the components they were ordering for the original models were all made to be 12v.
@@Nphen the 12V batteries in my ICE cars typically lasted 5 years or more, and they had to crank the engine over. Not sure why EV’s are having problems with them.
@@peterwright837 It's not about "large current load = more stress = less life" it's about *how* the charging and discharging happens. The lower power drain from electronic use only can actually cause more problems with these batteries than the normal use case of cranking a car motor. Instead of a few large loads per day, these batteries are constantly being drained by the onboard computer - even when the car is not running. If your friend doesn't drive every day, then the 12v battery may be discharging too low while his car is parked. These batteries are being put into the wrong use case.
@@Nphen Interesting. ICE cars also have onboard computers these days, but it sounds like the issues may stem more from the always on connectivity which is far more common on EV’s than ICE cars.
Great video. Keep it to 2 commercials and I’ll stay a subscriber. I almost always watch til the end unless you overwhelm me with commercials. With the full disclosure I understand why all the commercials. I’ll subscribe again.
I would have loved a comparison to a somewhat similar gas car for all the costs, that would have been nice, but very informative. One of the great things with Tesla is, that they keep their value really well especially just after buying, so often enough owning it is really cost efficient if you take that into consideration. Obviously it's hard to tell if this will stay this way for the future. The Model S had it's loss of value if you look at older models, but I think some of the main reason is that a new Model S is quiet a bit different and most importantly has a bigger battery which is really pushing the range by quiet a bit especially when the older Models have some degradation and obviously we now have great vehicles like the Model Y and 3 which many buyers can consider instead, so less demand for used cars here. OTA updates def. help though.
This was a good honest review. I did my own math for a Cybertruck purchase, and found that the total cost of ownership on a Cybertruck over 10 years will not exceed what my actual costs were for a 10 year cost of ownership of my VW GTI. It's just the up front buying costs of an EV, rather than the distributed cost of owning, fueling, and maintaining a gas vehicle. Some people just can't afford an 800/mo car payment for the first 6 years.
I suggest this: Divide the additional incremental cost of your Tesla (compared to the RAV4) by the annual fuel cost savings...how many decades will you have to drive that Tesla in order to offset the original purchase price premium? Ha ha, the battery won't last nearly that long. Neither will the car.
How much did your insurance go up from $1700 after you changed your $1000 deducible to $500 or is that after you changed it? I'm in the Boston area and my insurance co. wants to charge $2000 on a $500 deducible for a new M3.
Nice video. I recently attempted to purchase model y standard range. The update I received is as you said they are not making that model any longer. You can only get whatever model was already build and in inventory. I ended up going up to long range due to none being available in my area as well as I wanted the new interior options. They had a few in different states but they didn’t have my color and the interior was the previous style which I really wasn’t a fan of
I think whether you should buy an ev depends on how much mileage you drive. Let's take my own case, for example. I don't drive a whole lot. I live in Southern California. In July 2019, bought a 2006 Toyota Sienna Minivan with 106,000 miles for $6,000. Before Coronavirus hit in March 2020, I drove about 3000 miles, but since the virus, only 1000 miles, since I no longer needed to drive to work, and worked mostly from home. No need to drive mom to church, so 1000 miles are mostly to the grocery store and back. I think I made a good decision buying this car, which just passed California smog a few days ago with no problems. First of all, the cost of ownership is really low. With the virus, gas cost were down to $3/gallon at one point. So for the 4000 miles I've driven it, if we use $3.50 for gas cost average and a conservative 20 mpg, I paid only $700 for gas for almost 2 years of driving. My DVM fees cost $161 and my insurance is only $300/yr. I paid cash, so no car payments. Resale value for my minivan I would guess is still high, maybe around $5000. So my first year out of pocket cost is a little over $7500, including sales tax, but then it is only $1,200 per year after that. And from the initial payment, if I were to sell, I could get at least $5000. So for two years, I'm out net of only $2500, or about $1200 per year, or $100 per month, which is super cheap. So compare that with the high cost of ownership of ev. Do I enjoy driving my Sienna as much as eV? Absolutely. It has a load capacity much bigger than a Model Y. It still looks new from the outside, drives quiet, but the best thing is that this car is mine without any car payments.
I drive a RAV4 and 31MPG is only on a good highway. In actual city stop and start driving I get a measly 15-16. Sometimes I’ve driven only 150miles on a full tank of gas. The actual cost to drive 16k miles in the RAV4 will be way higher.
Good video but three things: 1. The comparison would have been better with a luxury/ performance crossover like a BMW X3 or Audi Q5. 2. Show the true costs of one of these cars. 3. The other phenomenon everyone misses is while the Tesla price starts at MSRP, Most ICE cars can be purchased at a discount from the dealer. A $57K BMW X3 can be had for $51K or less. I’d love to see the comparo redone for 3 yrs of ownership
Ryan I found a significant difference between the watt hours per mile as shown by the vehicle and the actual amount of energy supplied during charging by your home charger. So I’m wondering if you included the cost from the actual number of kilowatt hours used for all your charging versus if back calculated using the watt-hours per mile numbers. The difference can be as much as 30% higher consumption when calculated using the watt hours per mile.
You are looking at a TCO of ~$1/mile for the first two years. Very similar to my experience with a Mercedes B-Class electric with a Tesla drive line at three years of ownership.
My next car (3 years to go) will definitely be Electric. In Montreal electricity is $0.06 USD/KWh and federal and provincial rebates can go as high as $10,350 USD depending on the car. Thanks for your video, very detailed and useful.
This was a nice video. But, honestly it really shows more the extra cost associated with buying this premium car (I am a heavily invested tesla fan too). You emphasized fuel cost savings. If that is your main "bar" for comparison, then I suggest you compare it to a new hybrid car like the Honda Prius.
@@longtat1102 you have no idea what he is referring to. More denser higher populated areas drive insurance cost up. BFE Iowa is going to have lower insurance costs than NYC or LA.
I have a model 3 performance (comp & collision) and an old gas car (basic), with 2 drivers. My insurance in Missouri is about $1100 per year with Progressive.
I wish you would do a comparison between cost of ownership for the Tesla and that Rav 4 you were comparing it with (or any comparable size gas vehicle), to include the difference in purchase price. Is it and how much would you save to own a Tesla vs a Rav 4? (Ps: I know a Gas car will not do 0-60 in 4 seconds, that’s why I’m planning on getting a Model Y just because I like it)
Great job. Let me do a simple comparison with very rough numbers (use typical average 12,000 miles/year, $3/gallon gas, 5 years): Electric car (new Tesla): $60K upfront cost (net of rebates) + $6K finance cost = $66K, say $5K electricity (1K/yr) + $9K insurance (150/mo)+ $2.5K (500/yr) maintenance + $1K licensing, etc = $83.5K over 5 years for 12K mi/yr = $1.39/mile Gas car (new Toyota Corolla nicely equipped): $30K upfront cost + $3K finance cost = $33K, mileage say 25 mpg -> $8.4K gas (12K miles/yr x $3.5/gal / 25 mpg x 5 yrs) $8.4K gas + $6K (100/mo) insurance + $5K (1K/yr) maintenance + $1K licensing, etc = $53.4K over 5 years for 12K mi/yr = $0.89/mile So, over 5 years, an electric Tesla car costs you about $30K more over a traditional Toyota gas car. Over 5 years at 12,000 miles/year, that is about 50 cents per mile higher. Edit to add: If you choose the Toyota Corolla hybrid, that doubles the MPG to around 50. So, your gas cost is cut in half to only $4.2K/year vs Tesla electricity at $1K/year. I think the Tesla has to drop to around $35K to make the math work. Also, there is a residual value after 5 years. Realistically, after 5 years, the Tesla might be worth $25K, while the Toyota Corolla might be worth $15K - $20K, say $17K. So, you can't recoup the cost of operating your Tesla after 5 years by selling it.
I feel like I would like you as a human, like I would enjoy sitting down for a beer with you. not important for the video but I just enjoy how you’re smart and kind, your voice is very genuine sounding.
Great video Ryan. Now that you’ve driven your MY for a year on Southern California roads, how’s the front end rock chip situation? With all that painted body work up there and no grill, I’m curious how it holds up on our beat up roads here in California.
Thanks Ryan that was very interesting. I’ve owned three Ford Fusion Hybrids and I am really pleased with them. That is here in Alberta the engine gives more heat in winter and our fuel prices have been really low. Now we have a carbon tax, so the price of fuel is going up. I’ve always been fascinated by the Teslas. That I hope will be my next car.
Great video. Question about the charger. Do you think it’s worth the extra money to but the $500 Tesla charger or just go with the 240 outlet and use normal included charger. Wonder if the charging speed differences is worth the extra money in your opinion. The Tesla charger does look pretty cool in a garage.
Wow, your gas / electricity is expensive (compared to Atlanta, GA). My electric on-peak cost is equal to your off-peak... super off-peak is free up to 400kWh per month.
I just took delivery of a 2021 Model Y and In New Jersey there is no tax on full electric vehicles but no other rebates just wish i could get that 7500 rebate and being that it snows here and the roads are salted i will have to have my calipers pads inspected more often for rust and lubrication so an added cost
New rebate is in the works. supposedly for $7k and up to 400k cars sold. Did you have to pay a luxury tax in NJ ? Wondering if the tax free FEV sale also waives the NJ luxury car tax for cars over $45K
@@jn07513 Congress is in the works on two new green bills for $7k rebates that’s rumored to include who took delivery already this year. Good to hear about the no luxury tax in NJ. I’m looking to get a model 3 next spring but if I see the rebate running out before then I’m gonna buy earlier.
This is why the VW id line is so important and the Chevy EV line (to a lesser degree) are so important. Tesla is outragously priced and their real world range doesn't meet their claims. We need Volkswagen to bring the EV market to the masses. When the id begins being produced in Tennessee in the fall of 2021 it will drop pricing by 5k and put the car in-line with more home budgets.
I don't get it... In Sweden: Take the price you get offered. Pay. Done. What is added? Normal yearly road tax and such. Sales tax is included in the price from the beginning, registration is included and so on.
While I don't like passenger cars (ice or ev), I still liked the video for real life actual cost breakdown and total cost. You live in a very expensive city / state, and being young your insurance rate is very high. I'm 56 living in great lakes area with regulated electric rates, so my insurance & electric cost would be substantially lower. My highest electric bill in 2020 was July, with central air at 72 degrees 24/7: 533.98kwh @ .104085 = $55.58. Total bill was $92.22 with all the add on fees.
I mean the actual saving on gas ( or petrol as it should be know ) isn't as much as I thought. If you actually bought a hybrid or a efficient Diesel your looking at a minimum of 40mpg and would almost be the same cost at that point
How much do brakes cost and tires shocks and a new battery pack? Those are things I would worry about on a Tesla because battery pack is what weighs down a Tesla wear and tear on the car. What if your car battery gets wet from flood. If you Super Charge your battery degrades your mileage.
Do you frequently get Streets Flooded, in your usual Drive areas? Current Tesla's aren't the Cybertruck, so aren't intended for booting Through ditches & streams, but have been driven through Flooded Streets, with no immediate Damage!
what about inspection cost? oil changes, oil filters, brake fluid etc. are a significant maintenance cost factor in any ICE. Even compared to other EVs from legacy automakers a tesla will save money by having no short-mileage mandatory inspection intervals.
you missed out not needing every month to check oil and coolant levels. much cleaner under the bonnet. over time ICE car engines become dirty by the tars etc in the fuel effecting MPG. and loss of horsepower. and can block fuel pipes with a mass of gloop
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Go to NordVPN.com/ryanshaw or use code ryanshaw to get a 2-year plan plus 1 additional month with a huge discount.
KIA make far better EVs.
Toyota Rav4 is not a good comparison to Tesla Model Y. 7 seconds difference in 0-60. Lol
@Kingsley Sun I want one that can do both and get 130 mpge.
@Kingsley Sun No vehicle costs that little. Unless you ignore fuel and maintenance.
@Kingsley Sun Can you drive a RAV4 and never charge it? Does the RAV4 have the highest safety ratings in the industry? Does the RAV4 last for 700,000+ miles? All these questions change the buying equation. Enjoy your RAV4. I will buy a TESLA.
This video was super clean. Really well done, man. You're getting a lot better at this, and it's noticeable!
Yup. Its why I'm looking at rivian still gets the ev credit. Also I'll more than likely not nearly drive as many miles! Ryan must had made alot of content this year.! Great video Ryan.
Wow Ryan. This was very helpful and very detailed. I have never seen anyone do a breakdown to owning a Tesla like this. Great job man!
Damn that’s expensive! Guess my next EV will be an electric bicycle. ☹️
Mine will be electric ⚡️ shoes 👟 lol 😂
Tesla is making a smaller car for 25k. It’s overseas small
I bought my Kia Soul EV for 11k last year. It's been perfect for my lifestyle! So there are definitely other options out there.
Wow, those costs sure add up. Bought a nicely used 2002 Passat in 2003 for 16K cash (about 25K new) and it still looks and runs great. It sure has saved me a lot over the years and my yearly registration fee is only $143 (in CA). I think I might stick with that car for a few more years. I'd never trade in a car either as you'd get way more for it selling it private party.
@@Uncommonsensetoo Smart buying used gas vehicle. Never get rich buying expensive cars on credit. I have only had one new car in my life and because of things like that I was able to retire at 59. Debt free, two homes, couple of Mercedes and an airplane.
You ignored that a RAV costs $26K. Even if you buy the most expensive RAV, the plugin version at $38K the monthly payment will be vastly less. The savings on fuel means little if you are counting dollars.
Comparing to a RAV was the wrong comparison..... It is like comparing a VW to a Porsche.
No he didn't. This isn't a RAV4 vs Model Y cost comparison video. He just used a RAV4 gas cost vs electricity cost of Model Y. He should compare it to my Jag...17 MPG. Then you'll really see some savings.
@@philotimo5089 Have driven a Tesla, VW and Porsche? The ride and fit/finish of Tesla is closer to Ford.
Comparing this to a highlander makes more sense
Break even for Model 3 vs commuter ICE car is 4-7 years. Tesla designs their vehicle for Million miles (batteries ~400k), ICE cars rarely see much over 250,000. You will need to buy 2 RAV4 cars before you have to replace the batteries in the Tesla. That puts the 2 cars at cost parity assuming 0% inflation. If you factor in ICE maintenance, particularly toward end of life, the RAV4, assuming 0% inflation will be more than double the Tesla cost in a 15 year term.
Use Tire Rack. Better prices than Costco. More variety too
Tire Buyer is worth a look, too. They have a military/veteran, first responder and teacher discount.
Tire rack is FAR better than Costco. Better prices and selection and easier to use online website as well.
Discount Tire in SD Matched the on line store of Tire Rack for me
So I configured the exact same car here in Europe: 78000$.... So yeah. ICE is still cheapest here, by a lot. Especially with those exuberant Belgian electricity prices.
That's the starting price of a Model Y in Sweden.
Safe to say it's the most expensive country in Europe.
The only problem with your comparison to the RAV4 is ..the RAV4 price. With the money you can save by buying a RAV4 instead of Tesla you can buy gas for an eternity. 28,000 vs 63,000 plus interest, plus the inconvenience of charging, ...I don't understand why anybody thinks this is a good deal.
In other words, with the 35,000 $ (only the price of the car) you save with the RAV4 you can pay gas for more than 312,000 miles, the equivalent to 18+ years of ownership at 16,628 miles per year...and by the way, your RAV4 is probably is going to be running after 18 years If you only drive 16000 miles a year..Tesla will see..
Thank you, Ryan, for this very thorough and honest breakdown on ownership costs. I bought the 2021 Long Range Model Y and could not be happier. It is by far the best car I have ever owned - perhaps the best thing I have ever owned. Wishing you continued success with both your car and your channel.
So would you recommend the model y over something like a Toyota Corolla I’m only really worried about it’s cost and it’s charging time so would you think it’s worth it?
@@RavvaOf_Light I can’t imagine those cars in comparison. Tesla beats a Corolla in every way lol
@@rebeccasmith7041 how so?
@@rebeccasmith7041 you can get auto pilot on Corolla it’s called comma ai 2
60 thousand paid for Tesla comparing to 42 thousand Honda Pilot exl awd is not saving no matter what gas $/gal is!!!
I like what Tesla do, and I would like to have one, but my math calculation is not justified to jump on Tesla Y model.
800 and change for monthly payments is A LOT! Definitely wouldn't be able to afford that even if I wish I could, that's almost as much as my mortgage 🤯🤯
Look at his battery costs. $11,000. I've been told by T owners that aver life of battery is,130,000mi. So trade it in? If u get used car u have to consider the miles in its battery
@@White-ms9uo the warranty is like 250k with a million miles rating on the newer batteries lol. In reality this maps with modern day new cars.
I was one of your referrals! Thanks for the SuperCharger miles!!!!
Same here
0:00 What will be in the video
0:45 The configuration that I went with
1:05 My opinion on Tesla's calculation on money savings
1:25 My order's pricing
1:58 Base price of Model Y
2:16 The off-menu standard range Model Y
2:35 Taxes and fees for my purchase
3:22 Rebates and incentives
4:29 Charging costs
6:39 Cost comparison with equivalent gas car
9:21 Net savings
10:15 Maintenance cost
10:29 Insurance cost
11:14 How I paid the car?
12:21 My first year payment details and what yours will probably be like
13:30 What if I didn't seek better interest rates through refinancing
13:44 How are Tesla cars valued overtime
14:04 How much would my Model Y be priced if I trade it after 1 year?
14:15 FSD cost (I purchased it after delivery)
14:44 What payments are next for me?
16:31 Last words from me for this video
Just took delivery yesterday , I love the acceleration and the emission mode XD
I didn't spend the money on a home charger. I went on Amazon and bought the appropriate 50 amp plug and weather proof box to mount on the outside of my garage for 50$ and wired it in myself. Saved way over 1000$. It charges a tiny bit lower 30 miles an hour instead of 37 but it never matters. I even turned the charge rate down a bit so it actually takes a little longer than it could but it's better for the battery to charge slower and it still only takes about 5-6 hours generally to charge over night
can you elaborate on this?
Could you link the plug you used?
The one I used was the Talon LGP1S 50-Amp enclosed outdoor rated receptacle. It's in Amazon for 72$ Canadian. It's the same plug pattern a range would use it's a 50 amp 14-50r plug. You can do it even cheaper if you are installing it inside your garage. Then you literally can just install a range plug that u would use for your oven on the wall of your garage. I had to put mine on the outside of my garage as we've converted the garage into a building for a business we run so we don't have any indoor parking. I wish I could put a picture up on here of what it looks like installed.
@@jdog8701 NEMA 14-50! A "STOVE PLUG", basically!
Great video, but I would have mentioned the significantly lower base cost of the RAV4 when doing your comparison. It’s so much cheaper to purchase that over the lifetime of ownership it’s still going to be more economical. Tesla’s are still way cooler and feature packed. Great job and I subbed to your channel!
I live in ID and got rid of my 2020 Sentra for a model 3 long range 2021. My registration cost me $5 to transfer and $90 for registering an EV since you don’t pay the gas tax. I’m $110 a year for registration. And 6% sales tax instead of over 10 helps. Currently my charging over my first month has made my electric bill not change at all yet (level pay at $44 per month) and so far this month I’m estimated to use $40 in electricity even with relatively consistent charging at home. I also pay 10$ at a supercharger to get a full battery (80% not 100) so its really nice, no issues at all so far and the recent boom box update has made my car fun to sneak up to people at work and use the DJ horn to scare them.
With supercharging mine has actually costed me the same if not more than if I got a comparable ICE
Really? How much is super charging for you?
Seriously doubt
Not many people calculate the full cost of ownership for their vehicle.
It's insane, after working it out and saving a bunch of money driver a motorcycle again, I don't know when I'd be prepared to pay for a car again.
How do you get groceries?
@@bellarose6310 when I drove a motorcycle, I’d just use a backpack.
@mugenctr yea, that’s 10x+ cheaper. I got two Acuras around my 17th birthday. One fell asleep at the wheel and totaled the entire driver side on the median, brutal but cosmetic outside of the doors being inoperable $500. Got another who never changed the oil and cooked the engine $500. Swapped the front and rear quarter panel and doors then sold the bad motor one for $200. Got a great car only 6 years old with 30k miles for $800 and drove it for 5 years before it was too expensive to fix. I want an electric car like much of America does, but they are still unaffordable.
Thank you Ryan for going through all these numbers with us. Super helpful and well done.
I bought new a 2018 Hyunai Ioniq Hybrid for $26,500 including all taxes, registration, fees, and a 100,000 mile extended Hyundai bumper-to-bumper warranty on top of the standard 6-year bumper-to-bumper and 10-year 100,000 miles drive train warranties. Moreover, Hyundai guarantees the battery for life to the original buyer. I get an average of 55 to 60 mpg in combined city/highway driving. Range on fill-up is about 650 miles on the 11.5 gal tank of gasoline, which is twice the range of this model Y, and fill-up at a gas pump is much quicker than charging a Tesla on a trip. You can find gas stations in just about every city and small town as well as in the middle of almost nowhere, whereas charging stations are harder to find in remote areas. So I paid less than half as much as this Tesla cost, and my gas consumption cost is twice as good as the gasoline car used in this comparison so the per-mile cost is not as different as in this video's example. I love the car. You'll need to do your own math to decide what type of car is best for you and the way you use it. And when you compare an all-electric car, be sure to include a term for the eventual battery replacement.
Hi Ryan, good video. I enjoy watching you on UA-cam.
I have a model Y, which we took delivery of on Dec 24th and live just outside of Toronto Ontario. The spread in cost between gasoline and electricity in my case is mind boggling. Keep in mind, the model Y is substantially more expensive in Canada than in the US, even factoring in exchange. The LR model Y is 70k. Even with a GENEROUS exchange rate, the LR MY should be a maximum of about 67 to 68k.
Now on to the good news, Our electricity rates are adjusted on a fairly frequent basis, but they don't change all that much. Right now off peak is 8.5 cents per kWh and then they deduct the "Ontario electricity rebate" of 21.2%, so off peak is actually about 6.7 cents per kWh. (About 5 cents USD) and gasoline is currently going for aprox 1.25 per litter which equals about 4.73 per US gallon., so my wifes 100 mike daily commute used to cost aprox 20 per day in her 2012 rav4 and now costs about 2 bucks on electricty. We also have free supercharging for a year, so we could save huge if we utilized that. There is a supercharger very close to us as well, but the convenience of just plugging in when you get home and paying 2 bucks seems like a no brainer. Plus supercharging often doesn't sit well in my gut( no evidence, just gut) for battery life.
I figure we should be saving a minimum of 3k per year on fuel. Plus pulling into my garage and having a "gas station" right there can not be over stated on the convenience factor.
Ouch a 72 month loan that’s a lot of interest kinda eats up a lot of that fuel savings. Doesn’t make financial sense for the avg Jane or Joe.
Unless you can invest the money not paid upfront and make more than interest/inflation which is difficult and risky to do but can be done.
Bingo David!
If you borrow at ~2% you’re doing better than inflation, currently. With low rates you should take financing for as long as you can, and as time goes on you are paying with cheaper and cheaper dollars. You can do better putting your extra cash in the market and beating a 2% return.
The average joe will stay poor because they don’t understand the time value of money.
Don't forget in your cost of ownership to include the increase in equity in the vehicle, if you're making payments. You paid $8k in principle over those 12 months, depreciation will eat some of that, but it still lowers your cost of ownership substantially.
Great channel man - glad you are surviving while posting vids with some critical analysis of Tesla! (I have 2 teslas and huge Elon fan, but rabid reactions to any even mild critical reporting on Tesla disturbs even me). In NJ we have much better deal: no sales tax, 5k state tax refund, plus I get 4k EV refund from my job (large US bank). Saved me 15k!
Add to that the fact that the RAV4's 31 mpg would likely be on the highway (when you're doing the Supercharger) and probably closer to 21 mpg in the city (when you're fueling through your home and more fuel efficient with driving), your fuel savings were probably much greater.
Well spoken Sir, this is the first and only eye opening info I have watched. Thank you for the great clear, concise, easy to understand education!!
Edison charges generation and delivery fee per kWh. It’s still slightly cheaper than superchargers and more convenient. It’s still cheaper than gas. I traded in a Prius and i get somewhere around 48-51MPG. I still save money on gas when compared to my previous car. I have mine scheduled at 2am. I recently added additional solar panels. I now have 35 panels. essentially, my charging is “free” at home. I was curious about the mobile services. They charge $40 for tire rotation and about $70 for cabin filter change. You can get tire rotation free from America’s tire. I also had to replace a tire due to puncture damage. Usually replace in pairs and was able to replace a pair of Bridgestone (19” size) for around $450. This model is i believe V rated where the stock i think is W rated. The rating is related to wear and tear as well as top speed it can “handle”. Just wanted to share what I’ve paid so far for maintenance on my Model 3 Dual Motor with the 19” wheels and 16K miles driven in 1 year.
did i hear it correctly that you traded in your honda fit for $500 ? If yes, wouldn't it be better to sell it otherwise which i believe would be at a much better price point ?
We were looking at the model Y last week. After going through the Tesla web forms, it comes out close to $60k. This video gives us a better view of first year ownership costs.
Your electricity prices in CA are very high. Here in South Florida, my charger is metered at a condominium where cost is only 9 cents/kWh. Standard residential rate is only a penny more.
Here in Germany we pay around 33-36c/kWh
@@mcbonnes Gotta love that green energy. It is called green because in the US our money is green and green energy costs a lot of green dollars!
@@LTVoyager My electricity in Houston, TX was from 100% green sources and cost 11c /kWh. Location matters more than energy source when determining cost. Besides, there are always hidden costs to cheaper products or energy sources. It's cheaper to dump waste into rivers rather than disposing responsibly, but it harms the environment. Fossil fuels might be cheaper than green energy in some places, but it's harmful to the environment. Same principle.
@@mcbonnes Last year the average kWh price paid by German households was 32 euro cents which is the equivalent of 38 (!!!) dollar cents.
I have a funny feeling everyone's electricity is going to be ridiculous in the near future
I’d want to look at the life cycle cost of the vehicle, probably over the life of the loan. Sounds like the big advantages are the lower depreciation and some fuel savings. Initial cost, insurance, tires offset those advantages though.
This video was certainly interesting, but what really would have been helpful is to show a comparison to the RAV4 or other equivalent vehicle. I can’t make the numbers work at all for me personally. I tend to keep vehicles 15 years or 200,000 miles and I really don’t think an EV battery will last that long without significant loss of range. And with the purchase price being 60 - 80% more than a similar ICE SUV and the insane tire life and costs, and given I do my own maintenance at costs far less than dealer service rates, the numbers just don’t work at all.
I may still buy a Tesla for the fun factor, but I won’t delude myself thinking it makes sense financially.
I live in east WA and our Energy price is 0.075/ kw and my monthly insurance is $90. Very happy
Which insurance company? I was quoted at $179 for full comp coverage and gap
@@Gnarcap State Farm. I have my auto, house and business coverage with them, can’t be more happier.
@@MrAndreybond thanks :)
I think the biggest difference for us in the UK is insurance costs. I drive an electric Nissan Leaf, about 13000 miles per year. Fully comprehensive insurance on the car for me and my wife costs approx $350 per year! Even if I was as young as you are, I can't envisage a five fold increase.
I'm a Realtor and I am required to have $500,000 in Vehicle coverage. Houston Texas is #2 in the country for insurance rates. I was quoted $1,800 per year for full coverage vehicle insurance for the model 3. If we get a Telsa we will do 99% of charging at home, since we have an ICE Jeep for long trips.
Some interesting points- I wouldn’t expect to spend much on maintenance on any new car in the first year. It is in the subsequent years particularly as the mileage gets 60k plus that I would see the real lower costs of ownership
Assuming 72.5kWH usable battery - this would come out to an average of 266 miles range for a year, in case anyone was wondering
Fantastic straightforward breakdown
It would be interesting to see a cost comparison with, say, a BMW X5, or other comparable car up to year seven. Sometime around the 5th year of ownership, BMW’s and similar cars, get very expensive to own.
Very true! I’m in a Porsche Macan and the regular service visits after a few years is insane. $$$
@@vadacoo how much does it cost you to service the Macan? here where I live a normal service can go up to 350 USD just for an oil change and normal inspection... a major service goes up to 2k ouch
This is an excellent video. I am only halfway through it and so many of my real concerns have been answered. Great information in regards to the rebates and tax credits.
Can't believe the cost of insurance in US.
In UK I pay £340 per YEAR on M3 LR!
My Nema 14-15 charging station in my Condo garage was $4500 which I offset with the SDG&E rebate of $4500 for my Model 3, Oct 2019 Tesla. The decision to purchase was the 2 year free Super Charging, which I used about 1 year while my HOA decided to let me install the charger. Condo Charging stations billed directly to my electric system seems to be much more expensive.
Thanks for the clear calculations. I was debating on the actual cost of driving an electric car, and this was helpful.
I pay 4 cents per KwH to charge my 2019 Chevy Volt at night, or charge free at solar panels a 10 minute walk from my house. I paid $19,500 all-in out the door for the car in January. I financed the entire car at 2% for 5 years. The car was basically new with only 3600 miles. Leather heated seats, leather heated steering wheel. I like Teslas but I got 90% of the electric car experience for 1/3 the cost. As far as Tesla’s holding their value, I don’t find that to be true. Asking prices appear to be high but I watch them and they don’t sell, they just sit.
Ryan, 2 questions - 1. Why do you need new tires already after 1 year and only ~16k miles driven? Very confused how you already need new tires here. 2. Do you know if you can install run flats on the 20” wheels? Since Tesla doesn’t give us a spare nor use run flats I’m very curious. Thanks
You didn't discuss the extra cost of Insurance for Telsa models. AAA charges about double what a similar gas-powered car would be. I asked why - they said because there are no ( not yet anyway) 3rd party places to get parts. Telsa is only supplier of repair or collision parts - thus the larger expense.
Ryan when you calculate cost of gasoline your cost per gallon has tax built into it. I'm not from CA so I don't know how your electric bill costs but here in IL my electric bill has a bunch of taxes per KWH (charge multiplied per kwh.) These taxes actually double my cost per KWH which is only fair to consider for such a comparison and one thing I consistently find missing in the Gas vs electric comparison. I typically find that tesla supercharging costs are about the same as at home charging costs when you add the taxes you pay per kwh on the bill. That's based off Illinois of course.
Great video Ryan with complete analysis. You did leave out the expenses associated with paint correction, ceramic coating, and PPF. I think you had a video that showed that you did that work on the car, as did I.
That would be similar cost if you decide to do it on an ICE car though
Great video! I love Tesla and what they're accomplishing... If I were to buy one of these at 58k cash I'd have to drive it 242k miles to stand up where my current 4 cylinder cars' true cost stands. Between oil changes, ALL maint cost, gas, and purchase price I have spent close to 42k on a 20k ten year old car (new when I purchased). True cost for my gas car is ~$0.24 per mile at 182000 miles. Teslas cars true cost at this price point I would need to drive 242k miles...and that is not factoring in charging cost beyond a year. However Tesla's will be far more cost effective the longer you own it..banking on durability and next to zero maintenance cost. Initially it's a lot of up front cost, cheaper later. I encourage everyone to do the math on their own gas car for comparison
Assuming the Tesla is still driveable at 242k
Do you track on TeslaFI? kWh consumption is not only driving usage. Don't forget to account for phantom drain (especially when using Sentry Mode). You would be surprised at how much that adds up to in a year.
Dude that’s was clear!!!
Good info there too
Thanks for the hints
I’m waiting for my model Y
It was supposed to be delivered to me 8 weeks ago and I’m still waiting for it
Let me know if u want to review my delivery I’m in LA too
I’ll keep u posted
👍
As per my calculations your home charging cost would have been only $160 if you lived in india
Here electricity price is same all time and petrol is very expensive
@mugenctr In india farmers has free elctricity, so they can charge for free in overnight. For others on average 9 cents per kwh.
But india solar effective and very cheap. 4000$ enough to install for a big home. So car buyers use that in future. India will be producing more electric cars than any country as ev much econimic than ice in india.
I cannot believe how expensive cars are these days. This is insane.
Lol California has expensive gas and electricity, this calculation is very different in different areas of the country.
EV still cheaper in long run.
This is a luxury suv-ish EV as well.
@@californiaplant-basedeater2761 Most people that buy luxury vehicles don’t keep the vehicles more than 5 years. Most gas cars have more expenses the older they are. There are many factors that can influence whether it’s cheaper.
@@aarshpatel2000 Are you talking to me?
@@californiaplant-basedeater2761 I believe so, you’re the only reply to my original comment.
Where is the link to use when you buy a Tesla?
Loved the comment about replacing the 12V battery. My brother-in-law had his die without warning on his Model 3 within 2 years. Tesla came out to the house to replace it, but when he inquired about why it died so soon they just shrugged and said it was a common problem. Luckily it was at home in his garage.
The 12v batteries apparently die for multiple reasons. They're lead-acid so they're not going to be good for many cycle lives. They can discharge too low if the car is left sitting for too long. The DC-DC converter that charges them from the main battery can also have problems. These are several reasons that Elon wants to switch the in-car electronics & computers up to 48v and use Li-ion. The 12v systems are legacy automotive systems. Tesla uses them because most of the components they were ordering for the original models were all made to be 12v.
@@Nphen the 12V batteries in my ICE cars typically lasted 5 years or more, and they had to crank the engine over. Not sure why EV’s are having problems with them.
@@peterwright837 - Continuous low loads? Insufficient DC-DC Amp Ratings? SLI style, Instead of a Deep Cycle type?
@@peterwright837 It's not about "large current load = more stress = less life" it's about *how* the charging and discharging happens. The lower power drain from electronic use only can actually cause more problems with these batteries than the normal use case of cranking a car motor. Instead of a few large loads per day, these batteries are constantly being drained by the onboard computer - even when the car is not running. If your friend doesn't drive every day, then the 12v battery may be discharging too low while his car is parked. These batteries are being put into the wrong use case.
@@Nphen Interesting. ICE cars also have onboard computers these days, but it sounds like the issues may stem more from the always on connectivity which is far more common on EV’s than ICE cars.
Great video. Keep it to 2 commercials and I’ll stay a subscriber. I almost always watch til the end unless you overwhelm me with commercials. With the full disclosure I understand why all the commercials. I’ll subscribe again.
I would have loved a comparison to a somewhat similar gas car for all the costs, that would have been nice, but very informative. One of the great things with Tesla is, that they keep their value really well especially just after buying, so often enough owning it is really cost efficient if you take that into consideration. Obviously it's hard to tell if this will stay this way for the future. The Model S had it's loss of value if you look at older models, but I think some of the main reason is that a new Model S is quiet a bit different and most importantly has a bigger battery which is really pushing the range by quiet a bit especially when the older Models have some degradation and obviously we now have great vehicles like the Model Y and 3 which many buyers can consider instead, so less demand for used cars here. OTA updates def. help though.
I had heard that if you buy FSD separately from the purchase of the car and the car is totaled you get NOTHING from insurance for the cost of FSD.
This was a good honest review. I did my own math for a Cybertruck purchase, and found that the total cost of ownership on a Cybertruck over 10 years will not exceed what my actual costs were for a 10 year cost of ownership of my VW GTI. It's just the up front buying costs of an EV, rather than the distributed cost of owning, fueling, and maintaining a gas vehicle. Some people just can't afford an 800/mo car payment for the first 6 years.
I suggest this: Divide the additional incremental cost of your Tesla (compared to the RAV4) by the annual fuel cost savings...how many decades will you have to drive that Tesla in order to offset the original purchase price premium? Ha ha, the battery won't last nearly that long. Neither will the car.
How much did your insurance go up from $1700 after you changed your $1000 deducible to $500 or is that after you changed it? I'm in the Boston area and my insurance co. wants to charge $2000 on a $500 deducible for a new M3.
What a CLEAN & EFFICIENT VIDEO!!! wow, so refreshing to see this quality of video on UA-cam. Thank you and keep it up!!!!!
this to remind me just how out of reach this car is for me, dear god thats a pricey first year alone
Nice video. I recently attempted to purchase model y standard range. The update I received is as you said they are not making that model any longer. You can only get whatever model was already build and in inventory. I ended up going up to long range due to none being available in my area as well as I wanted the new interior options. They had a few in different states but they didn’t have my color and the interior was the previous style which I really wasn’t a fan of
It cool, but most of us don’t even drive last year. Saving $19,000 subtract driving a cool car.
I think whether you should buy an ev depends on how much mileage you drive. Let's take my own case, for example. I don't drive a whole lot. I live in Southern California. In July 2019, bought a 2006 Toyota Sienna Minivan with 106,000 miles for $6,000. Before Coronavirus hit in March 2020, I drove about 3000 miles, but since the virus, only 1000 miles, since I no longer needed to drive to work, and worked mostly from home. No need to drive mom to church, so 1000 miles are mostly to the grocery store and back. I think I made a good decision buying this car, which just passed California smog a few days ago with no problems. First of all, the cost of ownership is really low. With the virus, gas cost were down to $3/gallon at one point. So for the 4000 miles I've driven it, if we use $3.50 for gas cost average and a conservative 20 mpg, I paid only $700 for gas for almost 2 years of driving. My DVM fees cost $161 and my insurance is only $300/yr. I paid cash, so no car payments. Resale value for my minivan I would guess is still high, maybe around $5000. So my first year out of pocket cost is a little over $7500, including sales tax, but then it is only $1,200 per year after that. And from the initial payment, if I were to sell, I could get at least $5000. So for two years, I'm out net of only $2500, or about $1200 per year, or $100 per month, which is super cheap. So compare that with the high cost of ownership of ev. Do I enjoy driving my Sienna as much as eV? Absolutely. It has a load capacity much bigger than a Model Y. It still looks new from the outside, drives quiet, but the best thing is that this car is mine without any car payments.
I drive a RAV4 and 31MPG is only on a good highway. In actual city stop and start driving I get a measly 15-16. Sometimes I’ve driven only 150miles on a full tank of gas. The actual cost to drive 16k miles in the RAV4 will be way higher.
Good video but three things:
1. The comparison would have been better with a luxury/ performance crossover like a BMW X3 or Audi Q5.
2. Show the true costs of one of these cars.
3. The other phenomenon everyone misses is while the Tesla price starts at MSRP,
Most ICE cars can be purchased at a discount from the dealer.
A $57K BMW X3 can be had for $51K or less.
I’d love to see the comparo redone for 3 yrs of ownership
Great video, but doesn't apply to New Jersey because New Jersey does not charge sales tax on Tesla vehicles.
Ryan I found a significant difference between the watt hours per mile as shown by the vehicle and the actual amount of energy supplied during charging by your home charger. So I’m wondering if you included the cost from the actual number of kilowatt hours used for all your charging versus if back calculated using the watt-hours per mile numbers. The difference can be as much as 30% higher consumption when calculated using the watt hours per mile.
You are looking at a TCO of ~$1/mile for the first two years. Very similar to my experience with a Mercedes B-Class electric with a Tesla drive line at three years of ownership.
My next car (3 years to go) will definitely be Electric. In Montreal electricity is $0.06 USD/KWh and federal and provincial rebates can go as high as $10,350 USD depending on the car. Thanks for your video, very detailed and useful.
Look into a Chevy Bolt. Cost 1/3 and insurance isn't stupid crazy. It also has about the same range from it's LG battery.
This was a nice video. But, honestly it really shows more the extra cost associated with buying this premium car (I am a heavily invested tesla fan too). You emphasized fuel cost savings. If that is your main "bar" for comparison, then I suggest you compare it to a new hybrid car like the Honda Prius.
What about the monthly navigation fee? I mean the internet usage.
Did you have the tesla insurance when you paid for the glass replacement?
Full coverage $0 deductible in my state for $800 per year. California is insane.
@@lberhold more people, more expensive
@@StoriesByDighe lol you have no idea how insurance work then
@@longtat1102 you have no idea what he is referring to. More denser higher populated areas drive insurance cost up. BFE Iowa is going to have lower insurance costs than NYC or LA.
I have a model 3 performance (comp & collision) and an old gas car (basic), with 2 drivers. My insurance in Missouri is about $1100 per year with Progressive.
I wish you would do a comparison between cost of ownership for the Tesla and that Rav 4 you were comparing it with (or any comparable size gas vehicle), to include the difference in purchase price. Is it and how much would you save to own a Tesla vs a Rav 4? (Ps: I know a Gas car will not do 0-60 in 4 seconds, that’s why I’m planning on getting a Model Y just because I like it)
So Ryan how much do you make a year so we can put your new car buying in perspective, ie are you doing the right thing?
Great job. Let me do a simple comparison with very rough numbers (use typical average 12,000 miles/year, $3/gallon gas, 5 years):
Electric car (new Tesla): $60K upfront cost (net of rebates) + $6K finance cost = $66K, say $5K electricity (1K/yr) + $9K insurance (150/mo)+ $2.5K (500/yr) maintenance + $1K licensing, etc = $83.5K over 5 years for 12K mi/yr = $1.39/mile
Gas car (new Toyota Corolla nicely equipped): $30K upfront cost + $3K finance cost = $33K, mileage say 25 mpg -> $8.4K gas (12K miles/yr x $3.5/gal / 25 mpg x 5 yrs) $8.4K gas + $6K (100/mo) insurance + $5K (1K/yr) maintenance + $1K licensing, etc = $53.4K over 5 years for 12K mi/yr = $0.89/mile
So, over 5 years, an electric Tesla car costs you about $30K more over a traditional Toyota gas car. Over 5 years at 12,000 miles/year, that is about 50 cents per mile higher.
Edit to add: If you choose the Toyota Corolla hybrid, that doubles the MPG to around 50. So, your gas cost is cut in half to only $4.2K/year vs Tesla electricity at $1K/year. I think the Tesla has to drop to around $35K to make the math work.
Also, there is a residual value after 5 years. Realistically, after 5 years, the Tesla might be worth $25K, while the Toyota Corolla might be worth $15K - $20K, say $17K. So, you can't recoup the cost of operating your Tesla after 5 years by selling it.
Wait. What was the actual cost of replacing the windshield?
I feel like I would like you as a human, like I would enjoy sitting down for a beer with you. not important for the video but I just enjoy how you’re smart and kind, your voice is very genuine sounding.
Great video Ryan. Now that you’ve driven your MY for a year on Southern California roads, how’s the front end rock chip situation? With all that painted body work up there and no grill, I’m curious how it holds up on our beat up roads here in California.
Thanks Ryan that was very interesting. I’ve owned three Ford Fusion Hybrids and I am really pleased with them. That is here in Alberta the engine gives more heat in winter and our fuel prices have been really low. Now we have a carbon tax, so the price of fuel is going up. I’ve always been fascinated by the Teslas. That I hope will be my next car.
Great video. Question about the charger. Do you think it’s worth the extra money to but the $500 Tesla charger or just go with the 240 outlet and use normal included charger. Wonder if the charging speed differences is worth the extra money in your opinion. The Tesla charger does look pretty cool in a garage.
The $500 charger is absolutely worth the price. Hook it up to a 60 amp breaker and about 5 hours to charge from 40 miles to 300 miles of battery.
Your tyres are so expensive as well. UK price for Bridgestone Potenza S001 tyres, size 255/40 are £184 per tyre fully fitted (approx $250 each)
Why do you need new tires after only 16k miles?
I suggest you check out Achilles tires. I love mine
Wow, your gas / electricity is expensive (compared to Atlanta, GA). My electric on-peak cost is equal to your off-peak... super off-peak is free up to 400kWh per month.
Great review, a lot of good information and I am sure you put a lot of effort to made that Video.
Thank you.
Excellent video! Why loan vs finance?
I just took delivery of a 2021 Model Y and In New Jersey there is no tax on full electric vehicles but no other rebates just wish i could get that 7500 rebate and being that it snows here and the roads are salted i will have to have my calipers pads inspected more often for rust and lubrication so an added cost
New rebate is in the works. supposedly for $7k and up to 400k cars sold. Did you have to pay a luxury tax in NJ ? Wondering if the tax free FEV sale also waives the NJ luxury car tax for cars over $45K
@@sludog i wont qualifi for the rebate since i took delivery before it past and no luxury either just dmv registration fee tesla destination fee
@@jn07513 Congress is in the works on two new green bills for $7k rebates that’s rumored to include who took delivery already this year. Good to hear about the no luxury tax in NJ. I’m looking to get a model 3 next spring but if I see the rebate running out before then I’m gonna buy earlier.
This is why the VW id line is so important and the Chevy EV line (to a lesser degree) are so important. Tesla is outragously priced and their real world range doesn't meet their claims.
We need Volkswagen to bring the EV market to the masses. When the id begins being produced in Tennessee in the fall of 2021 it will drop pricing by 5k and put the car in-line with more home budgets.
I don't get it...
In Sweden:
Take the price you get offered.
Pay.
Done.
What is added?
Normal yearly road tax and such.
Sales tax is included in the price from the beginning, registration is included and so on.
While I don't like passenger cars (ice or ev), I still liked the video for real life actual cost breakdown and total cost. You live in a very expensive city / state, and being young your insurance rate is very high. I'm 56 living in great lakes area with regulated electric rates, so my insurance & electric cost would be substantially lower. My highest electric bill in 2020 was July, with central air at 72 degrees 24/7: 533.98kwh @ .104085 = $55.58. Total bill was $92.22 with all the add on fees.
I put a performance model Y with all the extras on my roof. But I needed a new roof badly.....
I drove my I3 13,000 miles mostly to work and home and paid NOTHING......Thanks Power-roof!!!
I mean the actual saving on gas ( or petrol as it should be know ) isn't as much as I thought. If you actually bought a hybrid or a efficient Diesel your looking at a minimum of 40mpg and would almost be the same cost at that point
How much do brakes cost and tires shocks and a new battery pack? Those are things I would worry about on a Tesla because battery pack is what weighs down a Tesla wear and tear on the car. What if your car battery gets wet from flood. If you Super Charge your battery degrades your mileage.
Do you frequently get Streets Flooded, in your usual Drive areas? Current Tesla's aren't the Cybertruck, so aren't intended for booting Through ditches & streams, but have been driven through Flooded Streets, with no immediate Damage!
For the rebates do you apply before buying it or after you buy the vehicle
what about inspection cost? oil changes, oil filters, brake fluid etc. are a significant maintenance cost factor in any ICE. Even compared to other EVs from legacy automakers a tesla will save money by having no short-mileage mandatory inspection intervals.
you missed out not needing every month to check oil and coolant levels. much cleaner under the bonnet.
over time ICE car engines become dirty by the tars etc in the fuel effecting MPG. and loss of horsepower.
and can block fuel pipes with a mass of gloop