Tesla Model 3 Total Cost After 5 Years! I'm Shocked

Pretty amusing that the cost of both cars come out less than the IRS standard mileage deduction of 65.5 cents per mile for business use of a vehicle.

How was the insurance price not calculated on Toyota?

Did you mention if you paid cash, or was your car financed? If you paid cash, the price you paid for a Tesla over the Toyota is still $10000 more even after the tax rebate. If you financed your tesla, the car payment would have been higher than the Toyota because there would be a higher dollar value on the amount of interest you paid.

Rear wheel drive? Give me gas cars

That's pretty cool. I wonder how long the battery pack will last. IF Tesla would replace the battery pack say after 10 years for a small price, this would make buying one a no brainer if you can afford one.

As a tesla ex certified technician all tesla vehicles are completely garbagel they are not worth their value they are made from low carbon steel almost equivalent to soda cans. car is completely uneven always habe computer problems I can go on forever 😂

Good analysis @aslye. The main point I got out of this is that you have plenty of levers to optimize your financial outcomes. I compare the Model-3(TM3) with a 3-series BMW. After many BMWs and VWs, I won't be buying another gas car. The TM3 has great range, charges quickly, inexpensive to run and constantly keeps getting upgraded. EV battery failures mostly exist in the imagination of people still driving gas cars. I would buy a TM3 with +300k miles over a clunky gas car with valves, timing belts, intake and exhaust, radiator, head-gasket, water pump headaches ANY day! EVs are going to only keep getting better.

You're leaving out resale value at the end of the 5 year period and subtracted that from the overall cost of ownership. Also, you gas hasn't been 3.74 per gallon consistently for the past 5 years. you should have gotten the average annual gas cost for each of the past five years and used that to calculate the average fuel cost over the 5 year period. I think it would have been a lot less than what you used.

The reselling value is probably where yu will se the difference and time spend for maintenance on ICE car

LOL compares a v6 instead of a hybrid.
Yeah, These videos are all bought and paid for

Don't want to be that guy but um actually the 2021-2023 average for super chargers is 37c per kw.

That subsidy though… someones paying it (it just isn't you).

Once a Tesla is 8 years old, and battery warranty is up, you could have 30k miles on it and it wouldn't matter for resale value. Time is the enemy of all EV cars. Mileage and use is the only enemy of gas cars. My mother drives only to the store, she has 2022 Honda Civic with 1500 miles that we got in July of 2021. She would lose so much money on a EV and could never keep it for 12 or 15 years with her usage.

Wait till you get the bill for new batteries and avoid flodded areas

I would imagine like most EV's, the battery pack would need to be replaced after 10 years ($15,000?) whereas the Toyota and other ICE vehicles do not need their engine replaced after 10 years and many go on for another 5 or 10 years with the same engine.

This is very interesting and accords with other calculations I've seen - that it takes about 80,000 miles before an EV becomes more economical in total than an ICE vehicle. Your analysis shows that after 120,000 miles and 5 years, your Tesla is only breaking even with a similar ICE car in terms of financial outlay. To me this really means that the reasons for choosing one car over another is not an economic one, but one that should accord with your personal preferences, whatever they may be. Perhaps you like the idea of an EV more than an ICE, which is perfectly fine. For myself, I like the idea of not having to fill up, but I do worry about range on long journeys.

A related topic that would be a big part of decision making is the availability of spare parts following an accident or just general wear and tear. Toyota spares are pretty easy to source, but I have my doubts about Tesla. I've not seen this topic covered anywhere, but I've spoken to an insurance assessor who claims that Tesla spare parts are very difficult to source and that there are long waiting times. Granted, I am in Australia, not the USA, so perhaps the whole comparison is different here.

BTW, if you are able to charge your Tesla from rooftop solar, the fuel costs might be even more reduced, although you'd need to factor in the upfront cost and maintenance costs of the solar panels. The cost equation is not simple as you might have other uses for your rooftop solar.

26 mpg for a Camry? My Ford Mondeo (Fusion in the US) is a diesel but I get 60 mpg and more on the motorway. 26 mpg is pretty poor nowadays.

Great video Andy, you hit the major points of basic costs and were fair when calculating the gas engine variant. This was not a bias video which I can respect. There are finer points and costs of owning an electric vehicle but this was not about that.

Here's something else to factor in, depending on your local legislature.

Many are looking at adding a tax on EVs to make up for the loss in gasoline tax revenue.

one thing you forgot to mention batteries don't last forever and i can't imagine how much it would cost to replace it

Tesla is absolutely garbage.

2018 Camry 21,000 average price.
2018 Model3 33,000 average price.

Why is Tesla! Not using salt battery?

What happens when Gov. Newsom says you can't charge your Tesla because of a brownout situation??

You're including the federal tax credit. That's cheating. It's like the government having its thumb on the scale to promote something. $7500 is a big chunk of the total cost. And it only counts if you make $$$$ and pay lots of taxes to take advantage of the credit.

thanks but 3 points for effort mate! All in all though, you haven't even scratched the surface mate! The re-sale value comparison in short- medium and long term, cost of replacement of battery vs. major engine repairs, cost of charging / re-installing the charger for those NOT owning the house but renting, cost if primarily charging at superchargers, comparison of electricity cost vs. fuel in short / med term., customer satisfaction index (built quality comparison), cost related to political decisions (what if you get gov. dotations/tax breaks cancelled), cheap China's EV's influence over market... I can go on... AND, do not forget the COST OF EV's to ENVIRONMENT and this in REAL terms, NOT politically motivated BS you've been told!!!

The most common Camry is the 4 cylinder, so $6k less to purchase not to mention better fuel economy. Did you forget to factor in battery replacement on the Tesla? Also, what about resale? I've heard battery replacement comes around 10 years and I expect that's going to greatly effect your resale at 10 years...

Random guessing 500% ... more ?, not sure vs $10,000 NZ dollar car ice 🤔 I would think a car is the worst investment on earth so I would buy a second hand reliable TOYOTA 🤔! Pay off the mortgage with 50k

And then the soccer mom blows the doors off every car she sees as she YELLS LOSER while paying 20 cents for the equivalent of a gallon of gas, any guess what the Oil companies will charge for a gallon of gas 5 years from now?

TESLA GOING DOWN .

For myself, the chief concern is the stories of cars catching fire while charging. If your car catches fire in the garage, you can't put it out before the whole house is gone. The fire department won't be able to put out the fire before the house burns down. And leaving the car outside in 10F weather isn't an option either as batteries don't do well in cold weather.

I rarely need 300 miles on a charge, so I would prefer a hybrid 50 mile battery/400 mile gas car. I'd rarely use gas, making the sky is falling crowd happy, and have my gas option for my infrequent long trips. A true electric car is a waste of batteries for most people. Now, unless we rid our government of Biden and his ilk, we will be paying $10 a gallon before long, making electric cars the cheaper option for sure.

EV's are not a good buy,

And the battery lasts 8-12 years and approx $10k to replace

Regardless of the analysis, you should NEVER buy a car that as new has so many problems and malfunctions, but Tesla's poor quality is nothing new.

𝗛𝘆𝗱𝗿𝗼𝗴𝗲𝗻 𝗶𝘀 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 — Electric cars are not the right solution. Most Electric cars use 14kg of cobalt mined by children in the Republic of Congo, where 70% come from Chinese companies. It’s no wonder Elon is building TESLA factories in China and is friendly with this warmonger country.

this was repeat viewing for me. Not counting present vs original value (depreciation) would shift favor to the Camry, primarily because Tesla sale prices have declined $10k since. But EV reliability and repair is way cheaper for years 4-10. There really isn't a useful total here, or economic methodology, and nearly every item you analyze I disagree with. Its clear that you make nice polished vids, but please get an accountant friend and redo this. I would GREATLY PREFER an analysis aimed at what someone considering a new car TODAY could project, utilizing your past data from repairs, tires, fuel, etc. Also you need some Tesla illuminati to influence comments about future values whether because you (should) include resale value, or discuss plans to drive it until "the wheels fall off" with future repairs expected to be much more for an ICE car after the first 120k miles.

Its interesting to note that while worst case Teslas from 2014 seem to get battery issues (lots of supercharging) somewhere after 300k(miles), doomers dominate these comments as if they all drive Volvo 240s with 500k-1Million miles on them? Batteries are better now, and just keep getting better. Current predictions are 2-3 Million mile battery life by 2032 in real world use, meaning a return to planned obsolescence in design by 2040. The only 1st world car today with real battery issues is the Nissan Leaf, solely due to having NO ACTIVE TEMPERATURE regulation system for its battery. Yes, all other Nissan EVs do.

Assuming that new car tires and insurance rates will become equal or favor the Tesla as sales of EVs grow, the future total annual cost differences will be driven by fuel cost (here 15 thousand vs 3 thousand for 120k miles), depreciation (which is probably 5-7 thousand worse for the Tesla in this example but should invert to its favor in a few years for a car bought today), and repair costs (which were under 1400 for both, but for older cars do now and will greatly favor the EV in the future).

people forget there is no federal and provincial or in your case state fuel taxes when you charge your electric car....if everyone had an electric car where would money come from to build and maintain roads?....hard to compare apples to oranges.....wait till they make you install a metered charger where you pay tax on the hydro you consume to charge your EV. It will be like water meters.

If you drove a tesla like many do a Camry your cost would be way higher. Most tesla drivers are worse than Prius drivers.

I never seen more than 150 miles of range when I had a model s. I also drove like I do any other car. Hard asf.

The bottom line is that the pro-EV crowd is blithely assuming that the over-all 'savings' will more than compensate for the risk of fire or sudden failure. 💣Walking down the road to get a few gallons of electricity doesn't appeal to me. *No use trying to make a good deal out of a bad idea.

Need to add the 5 years of time wasted sitting at a charging station. Time is money. For people that live in apartments even more time wasted at charging stations.

Have you watched the Lithium cars that were in the Florida floods?

Tesla or Toyota, you're still getting laughed at.

EV just causes pollution, foreign dependence, and raises the cost of all fuels.

I miss my 74 Vega.

This is an EV trap!

Depends on the price of Juice in your area. and of course you know the more peeps that own electric the price will increase. I have heard Tesla will charge you for updates that will enable you to charge quickly? True? In many applications I am sure it makes sense, Here in Michigan come winter. I am sure it requires much more Juice to keep everything going. With limited charging stations. That makes it a piss poor investment. Especially if you tow or haul things which many of us do. GO TRUMP

The first three years gas was at least a dollar a gallon cheaper so closer to $10,000. Resale value is almost zero with the batteries. Nice if you don't live in the West where it would take you 3 days to just get across Texas.

Wow. That's a lot of money. What about your car registration? In my state, if you have a hybrid car, registration is an additional $250. If you have a full electric car, registration is an additional $500 per year.

For me, I don't use $500 per year for gas! (I travel about 1,500 miles per year.) My 18 year old Saturn has 43,500 miles on it. So an electric car wouldn't be wise for my situation. (I paid a total of about $15k for my Saturn Vue brand new in 2005.)

Seeing all of those problems that you had with your Tesla (windows buttons, door handle not closing, etc.) would concern me.

I'd be curious to see your costs over the next 5 years when, most likely, you'll have to factor in the cost of replacing the battery pack.

This was a good and interesting video. I think my next car will be a new (or used) Camry or Corolla.