Tesla Model 3 - £££ Total Cost of Ownership (4 Years)

How much has this Telsa Model 3 cost me from day one until today? Fuel, tax, repairs and depreciation all included.

#electriccars #tesla #cars

[jezebabe]

Very interesting video, thanks! I notice you often say that you always sell your cars privately. This is something I usually avoid as it's so convenient to p/x, but I would be interested in a video by you on "how to sell your car privately" or something like that, covering all aspects (positive and negative) . Cheers 👍🏻

[bigfist]

Paid 1k for my petrol car 2.0 turbo saab had it 5 years spent about 1k on servicing in yhat time including new tyre's its currently worth 2k, thats free motoring and no range anxieties.

[DavidWilliams-nbup]

Remember, part of the depreciation is the VAT lost instantly you drive away from the dealer… a big chunk of the figure.
Obviously it applies to all vehicles and is a genuine cost of ownership.

[raffiefoxmew]

The shock horror tactics used by EV skeptics never fails to amuse me. They act like the same just doesn't happen with a traditional ICE car...when it absolutely does. Depreciation on most brand new cars is savage for the first few years and then tapers off.

I'm so so happy with my Model 3, I won't sell it likely I'll keep it til it's done.

[barryhaeger]

Nice one especially as I've the same mode as you have and about 4 months older than yours which I bought as a low-mileage used car from Tesla exactly a year ago this week. Delighted with the car and the running costs to date although it has to be said depreciation is the highest cost element principle because everything else is so negligibly inexpensive. As you say most journies are out and back from home with low-cost charging and therefore only occasionally topping up on Tesla Superchargers at well below the average for non-Tesla Rapid-Chargers. In fact, because I drive a Tesla I can be on the Intelligent-Octopus tariff and therefore I also get the benefit of lower overnight rates for not only EV Charging but also Home Battery, Hotwater, Heat-Pump, Washing-machine and Dishwasher etc for 6 hours a night and Home Battery can in all but really cold weather run the rest of the home including heating until bedtime. Time shifting 90% of my grid consumption to the lower off-peak which wouldn't have been available to me without the EV and saving me a sizable wedge.

[johniooi]

Interesting on Fuel. I run a Niro EV, previously a Niro HEV. Still doing same miles a month. After 7 months of EV ownership, I still have not spent as much on home charging as it cost me for one month of petrol. A guess is it will take another 3 months to be around the same cost.

[davidevans]

Not many mile, there are plenty with 300, 000+ miles. You should keep it to reduce your depreciation figure. Battery degradation at 300.000 miles is 10% or less.

[justsomeguy]

I'm over here across the pond and I wait for your videos to come out! Please keep making them!

[mjwndave]

Great video! I did exactly the same the other week for my Long Range comparing it to my brothers Kia Ce'ed and I frightened him to death on how cheap it is for fuel! As you can imagine he's now looking at electric alternatives

[bongofury]

Really interesting, thank you for the breakdown. Including insurance it works out for you to be about £600 a month. I have my 2022 Model 3 RWD on a salary sacrifice 4 year lease with an annual mileage of 20000 that includes insurance, maintenance and tyres. i am in the higher tax bracket so save around 40% in income tax on the main fee which works out as about £520 a month, I looked at March's data on EEVEE app and its cost me £3.15 to travel 1926 miles, however I get free charging at work, travel 100 miles a day and got a free home charger installed through Octopus so pay 7.5p per KWH for smart charging from home overnight. I occasionally use the Supercharger network on long trips but this would average about £5 a month over a year. So i reckon i spend around £540 a month on the lease. Plus washer fluid!

[-Will-]

Nicely done EVM. As well as your point about long trips having a portion of home charging. It's worth pointing out to those new to EVs that you might only need to put in a minimal charge just to get home again. Vs when you are out in an ICE car and fuel costs the same everywhere so you just constantly put a lot in.

[gregrobinson]

Thanks for the heads up on VED/Car tax. I hadn't realised it applied to all electric cars registered after 2017. I thought it was just those registered after Apr 2025. I'm looking at buying an electric van and that's a big jump in tax, £0/yr to £330/yr.

[simonreeves]

Hi EVM, love the work you do on this channel. The way to offset depreciation is to keep vehicles for longer, depreciation is an inverse exponential curve, i.e. you loose the most in the early years. I just watched a video from The Electric Viking looking at high mileage Model 3’s, there are many examples that have done circa 300k miles on the original battery pack and drive train. So it would be interesting to see these numbers based on 8 years and 120k miles. Our collective mindset on high mileage being bad is based on the experience of running ICE cars, but all the things that make high mileage ICE cars a pain to own simply do not exist on an EV, even the much feared battery degradation is not the problem we thought it would be. You got through a lot of rear tyres, which suggests to me you enjoy using the performance of the M3, tyre wear = driving style. 😜🤣😜

[C.W.]

Nice shout out to the Renegade Master. Another good vid

[applicationsbroad]

Unfortunately there is one common and very big misrepresentation here. Consumption has been based on the reported wh/m of 250 (4 miles per kwh). That figure is great for working out the range of an EV but is no good for working out the cost. I have two EV's I am not a hater and in my experience if you connected an energy monitor to your charger and compared the total Energy passing through the charger to what the car uses in wh/m you will see a disparity of 25-30%. charging with a 7kw charger you will see a charging loss of 10% for starters (15% with a UMC) then there is sentry mode, preheat, sitting in the car waiting for someone with the heater on etc. A Tesla uses 250w of power when it is awake or 1kwh every 4 hours just sitting on the drive . After you get out it stays awake for up to 20 minutes even if sentry is on. That adds up over time. The car only records energy usage while moving all this lot adds up to more than you think so if you are trying to work out the cost of running an EV you need to add 25-30% to the wh/m figure if you want to get a true cost of fuel. I am disappointed that EVM did not know/include this.

[fsclips]

Very interesting and thank you for the video. I own a Model 3 Highland. I have had it now for 4 months and driven 8000km. I am very lucky in that I get to charge my car with solar for zero cost, so so far I haven´t had to pay any money towards the running cost of my car. Where we live there are no used Teslas available and even the Tesla inventory is empty, so used Teslas, when they pop up go for a lot of money. We are planning to keep ours for 5 years or so and then we will see. So far we are very happy with it and love the drive.

[Knott]

Interesting, Thanks. Re the depreciation, i'm planning to keep mine as long as possible so I'm less worried, although given what I've learnt and the improvements in infrastructure etc, I'd probably have gone for 2nd hand instead of new, then again at the time (2 years ago) the 2nd hand price was higher than new at the time...

[enyaq_gorm]

On depreciation timing is everything. I had a march 2020 SR+ which I sold in may 2021 as it was a complete lemon. It had dropped £6k in that first year. On servicing tesla actually recommend a brake service every 12 months in countries where the roads are treated with salt in the winter. Cleevely have plenty videos showing brake calipers in terrible condition because tesla owners swallow the hype that they're driving a car with no servicing required 😢😢😢

[jeremydavies]

Worth noting with regard to depreciation that a brand new model 3 is barely more than yours was 4 years ago. This is not the case with most cars or indeed anything else. This means the ‘price to change’ to a new model of the same car is a lot less than the BMW for example.

[rustys]

Interestingly, having got used to my little battery-based fleet (Outlander Phev, Peugeot Ion and i3) today I thought I'd give my Mum's 2011 V70 D5 Auto a long pre-mot run. Previously I'd always regarded it as a lovely car to bash off 300 miles in one go.

O.M. .. G! It's been like stepping back into the dark ages: no regen, no low down grunt out of the roundabouts, noise and vibrations (and this is a really nice, tight example).

For the final insult my hands now smell of diesel, the pump was filthy and I had to queue to pay actual money for the experience.

Great work as ever: very interesting and as you say, any £40k new car is going to cost more than buttons over four years, but I bet a lot of people spend £2-300 a month just on fuel and servicing alone.