The ACTUAL Cost of Owning a Tesla Model 3 - FULL Breakdown and Guide

Are you looking to buy a Tesla and want to know what it will actually cost you? Well in this video I am going to break down exactly what my Tesla Model 3 costs me, including both up front costs and monthly operating costs. I also explain why the sticker price on EVs is misleading, and demonstrate why they are cheaper than you might think, all while explaining this nifty cost calculator I built.. which is free for everyone to use at the link below!

Don't forget to like and subscribe if you enjoy the content and comment down below if you have any suggested improvements to the Cost Calculator.

Tesla Cost Calculator Tool:
If you are logged into a google account, you'll have to "Make a copy" in order to edit.

Thinking of buying a Tesla? Use my referral code and get 1,000 miles of free supercharging!

[illgazillion]

For the record. I love spreadsheets too. I use them every time I plan to make a decent purchase or any kind of financial purchase.

[MrXyborg]

Great video! For a reference from across the world: . That same car: Tesla Model 3 LR is just over $79, 000 with taxes here in Sweden (i just ordered one). Then again gas is $6, 50 /gallon and financing through Tesla can usually be had at roughly 1.8 - 2.0% intereset rate. At the time of my order they had a special offer on the financing so I got 0.45% interest on the loan over 7 years.

[ReavoEnd]

Dude, this is above and beyond. Thank you for keeping the numbers on screen instead of showing flashy footage of a Tesla driving around - which I can find just about anywhere. Thanks for breaking everything down, giving helpful suggestions, for sharing your spreadsheet tool and then explaining everything about it. Amazingly helpful!

[marklauber]

Good analysis but as an accountant there is an expression I can create a spreadsheet to prove or say anything you want

[douglasflores]

The spreadsheet is amazing and extremely helpful! Thank you!!

[burntwafflz]

Wow this is the EXACT video I’ve been looking for! You break down everything I‘ve been looking for. In conjunction with your M3P vs LR AWD video, I’ve solidified my choice and have an accurate picture of what it’s going to cost me. Thanks so much for your videos! 👊🏽

[anthonym]

This was so awesome! definitely going to use the spreadsheet you made!

[corpuzone]

You’re a life saver since you setup a spreadsheet for us with formulas set in place 😇. Now we can know the “true” cost owning one of these beauties. You’re lucky to have $100 monthly in California where I live you’re looking at $200-400 monthly on insurance alone! Definitely expensive to live here. By the way, I hear if you finance through Tesla they’ll ask for the tax to be paid on delivery? So might finance through my own bank if I find a decent deal. I also got a ‘18 Honda with about 20k (kbb) worth trade in good condition. If I get the standard range + you think I could get a $380/monthly payment 🧐 🤔? If not I rather get a more affordable car can’t do $600-700 like your range. Hmm how I wish I made more money 💵. Thanks for the video!!!

[ReavoEnd]

Just one thing - wish there were spots for insurance and registration for ICE and Tesla separately. They are drastically different in my state.

[noahhuckleby]

I want to buy a Tesla model 3 some day when I have a good stable or even multiple sources of income

[_hello_sunshine]

I wish I had of planned as well as you. I recently found a cheaper insurance provider, these things all add up right.

[u_ori]

Sorry but I can’t are you mark zurkerburg’s brother

[griffinstambaugh]

on the spread sheet you included the destination fee and sales tax in the amount financed, which isn't the way it works

[jesterlampoon-tj]

I'm a little lost. This was good info, but it was a bit of a data dump. What would you say is the total savings over the life of the car? Call it 10 years, though I'm sure Tesla's could push it to 20 :)

[nickbailey]

Wow, your insurance on the spreadsheet is cheap. My quote is 960 more a year than my current Passat. $6000 over 5 years more.

[zacktripp]

Here is the link to the Cost Calculator! You'll have to "Make a copy" in order to edit. Let me know if you have any issues or questions on it. Like and subscribe if it has helped you :)

And if you are thinking of buying a Tesla.. Use my referral code to place your order and get 1, 000 miles of free supercharging!

[xJoshykinz]

Do you insure with Tesla, or are you with a 3rd party company?

[juliewhitaker]

If I drive 25000 miles each year would it be worth buying a Tesla model 3 if I currently drive a Prius

[redgeciccone]

These Tesla Evengelists make me laugh.

Here is the real thing.

* The bad *

1- If you buy this car because it is green, make sure that where you live the electricity is not produced with coal or natural gas. If so, you are not green at all.

2- Even though Tesla keeps the value, it is quite difficult to sell as most people will prefer to buy it new as the price difference is not that big and you have a brand new one. I saw a garage with an older Tesla, they've been there 8 months, they just can't sell them for the price they want.

3- Many people compare Tesla with BMW or Mercedes. It's not at all comparable, as Tesla quality is not premium. I give my daughter my 2008 Mercedes and the paint quality is amazing, the build quality is really not the same. You should compare it to a Honda Accord for the quality of the car. Also, BMW is not good at gas mileage.

4- The insurance is 1000 $ for me for model 3, pray not to have an accident with it. I saw tesla hitting by front end and bumper, hood, fender, estimated repair cost was 50K as they are all made aluminum.

5- The monthly payment is high, even if you save on gas, it's like quitting smoking, you save but you don't really see it.

* Good. *

1- Fun car to drive, the performance is incredible.
2- The technology of the car is cool too.
3- You save gas.
4- Tesla is worth it if you do a lot of mileage.

[richardferris]

So try those numbers with a four year old Honda....