TESLA vs GAS: TRUE Costs After 50k Miles

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I went over all of my costs from 50,000 miles of owning my 2022 Long Range Tesla Model 3. These costs include charging, maintenance, and insurance. I showed the data of how much I paid and versus how much I saved by driving a Tesla and by not driving a gas car.

Obviously, charging is cheaper than getting gas, but the amount of how much cheaper it is may surprise you. Insurance, at least with Tesla insurance, is also cheaper than what an average gas car pays for insurance. Also, the maintenance on my Tesla has been very minimal. I am still on my original tires.

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[ezumach]

I purchased my Tesla MYP early last year. I am a CPA, and I crunched the numbers prior to making my purchase for around $58, 000. With the nonrefundable tax credit of $7500, that brought me down to $50, 500. I purchased the vehicle through my company, which allows additional front loaded depreciation. That brings the total net cost down to about $40, 000. I am saving about $1200 per year in gas, an average of $1000 a year in oil changes and repair costs as I had a BMW prior. I am also saving $60 per month in insurance, since Tesla‘s are cheaper to insure. If I keep my Tesla for eight years, my total cost of ownership is $220 per month. Don’t listen to all of the Tesla haters, this vehicle is a workhorse and many people are over 200, 000 miles without having to replace anything beyond the tires. A Tesla is a good investment if you hold onto it for at least five years, preferably eight. The problem is everybody wants the latest car, so they buy new cars and sell them two years later for a big loss. That has nothing to do with Tesla, and more to do with people’s poor lifestyle choices. Most people are financially illiterate.

[catchingbutterflies]

im driving a Diesel car, and i live in Germany, i was watching like A LOT of Tesla owners videos, and i can say 100% that your video was better and show me real stuf what i wanted to know! Good job, and from now one im folowing you!

[JWAR]

I genuinely don’t understand peoples uproar about depreciation values, every car depreciates, some faster than others, but if you basically plan on keeping a car until the wheels fall off, that shouldn’t really matter. Isn’t the point of financing/owning a tesla is the longevity of it?

[VivARUD]

As both a driver and owner of a Tesla and a gas vehicle, I can say that the Tesla is fast, fun to drive, and cheaper to maintain and operate when charging at home. However, the ride comfort is below average for long road trips, and the insurance is expensive, along with very high annual registration fees. Additionally, equivalent gas vehicles are often more affordable for road trips. Many people don't realize that public charging is quite costly, usually more expensive than fueling a comparable gas vehicle when you factor in cost per mile. Also, the Tesla app's comparison of gas versus electric costs is inaccurate.(I live in Midwest for reference)

[mrxraymri]

Here's my take!
Oil changes: $1, 000 (10 changes, 5, 000mile intervals @ $100, can be cheaper if done yourself, but worth time changing it?)
Other ICE maintenance: $200-500 (3 x Engine air filter, Spark plugs, ect.)
Tires and other car maintenance are negligibly the same for EV's and ICE cars.
Total Operating(minus other negligible items) : $7266.66

EV charging cost: $2, 840 ( His number)

Total cost savings between the two at 52K : ~ $4426.66 (That's $1475.55 a year if you drive 17k miles a year)

NOW!!! Who wants to talk about total cost of ICE vs EV after they hit 150-200k miles? Engine replacement vs Battery replace? That's $5-10K for engine vs $10-20K for battery.

Drum roll.... they are about the same after 150-200K miles some would argue the ICE can be maintained cheaper the longer it goes. Saving money.

[luminary]

This is what I understand - Hyundai

limited Sonata VS Hyundai Iconic

Gas $37000 MSRP vs EV $60000

Gas full tank under 5 minutes Vs sleep or leave at charging station

Sonata cost $6200 gas for 50000 miles + oil and filter replacement 17 times x$50 = $850 every 3000 miles Im DIY guy I did it at home Front 2 tire replacement $600 at tire center + brakes shoes replacement DIY $200 5 years insurance $ 7200

Sonata total cost $52050 Vs Iconic 60000 Msrp

[select]

I was thinking of picking up a used car since we're moving out of the country and back to the city. I realized that used car prices between ICE and Tesla's were very comparable. And after watching this, I think I'm convinced I need to go with a model 3. Great video and info.

[brianbarnes]

I don't think people realize how cheap Teslas are right now. My daughter just bought a 2025 awd MY. After sales tax, all fees and tax credits, referral etc she pd $38k. Factor in gas and other savings over life of car, and net cost is about $25, 000. Insurance is $135/mo. Overall, incredibly cheap. I chipped in $8k for fsd because I want her to be extra safe, combo of fsd, internal cameras forcing you to pay attention and car always near top of ranking in crash tests. FSD is amazing, starting in December 2024 Ver 13. You have no idea how awesome and useful fsd is until you have tried it. Super fast, 0-60 in 4.8 ($2k option for 4.2). Super quiet, amazing sound system. And on top of everything else, the car and fsd is constantly improving through monthly over the air software updates. I truly don't understand how anyone could buy any other car, if they passed high school math, and do any kind of reasonable comparison to other cars. ** The value of the fsd experience alone, unique to teslas, can not be over-stated.

[thiswillnotendwell]

What’s crazier is if you compare the Maint costs to a gas car performance equivalent. Considering your Tesla performs like a high performance sports car.

[charlesfostersneckbone]

I have resisted electric for some time but am slowely coming to the realization that it is soon going to be superior. I resisted buying my electric lawnmower but after a year of usage I see the alure of this tech. No more clogged filters, no more bad plugs to replace or carbs to adjust clean and replace, no more stupid hoses to leak. It's not as powerful as a gas mower but for my lawn does exactly what a gas mower does without forcing me to be a small engine hobbyist like my father and his father before him. Yes, I will have to buy a new batter for it in about 5 years (per the warranty- and those batteries are currently 250 dollars) but divide that by 5= 50 dollars a year amortized, but is well worth it to me in time savings of gas stations etc. Currently China has 5 minute electric charges for their vehicles and are rapidly improving the battery tech, there are also new battery tech in the works that is rapidly improving and lowering the cost of everything. We can fight the whole electric thing all we want but what I have noticed is the people who have tried electric say they won't go back to the ancient gas.

[Sectionatebeats]

Great video, thank you for sharing this, I had no idea it could be so cost effective compared to gas!

[RichardJansen-jq]

I totally disregard the Tesla msm haters, everything is politics and only their politics or they torch you. Tesla costs me 20% of my previous ice vehicles. Absolutely no problems.

[Alckemy]

Be ready for that 700+ registration fee every year.

In Vegas. Insurance can actually help lower your rate if you go with the Tesla insurance if you really take the time to improve your driving score. I have full coverage for 100 bucks, where the minimum for the same coverage at other companies were $262

If you get the tax credit, a long range model 3 still comes out to be over 40k because of taxes. There’s also a Tesla registration fee.

If you want the long range base model 3 you should expect to pay 42-45k

[christopherdiaz]

I have the model Y and the biggest cost is insurance and depreciation.

[jackmorgan]

i'm glad you mentioned what you were going to include at the beginnig - Saved me 10 minutes of my life. DEPRECIATION is the number one cost of car

[bigoldjim]

What is it about a Tesla that makes you want to put so many miles on them? My wife's Model Y has 30k in 10 months. My Model Y has 10k in 4 months.

[thehillsdrivingschool]

We use Tesla at our driving school. Our insurance is $14, 000/year. Yes, $14, 000. Berkshire Homestead has monopoly over commercial car insurance specific for driving schools. It’s counterintuitive but driving schools have actually less accidents. In 25 years we had zero accidents. I really wished Tesla offered commercial car insurance. They offer a “business” insurance but it’s not commercial.

[markanthony]

Glad to see your subs above 5K Fam! Let’s go to 10K!! 🎉

[WannaBetBro]

I’m seriously considering buying the new model Y launch edition. Currently driving a 2012 Subaru Legacy with a six cylinder engine on average I get about 20 miles per gallon. I don’t drive very far as of right now but still I find myself putting in gas way more often than not. The upfront pricing can be daunting but looking at all the potential savings really opens my eyes to seeing it as an actual possibility. I changed my oil twice a year, plus get tire rotations and balance and it comes out to about $200 each time for a total of $400 a year. I think I’m going to crunch numbers and possibly pull the trigger on buying one, but it is a huge investment and I should only do it if I’m going to keep the car anywhere between 5 to 8 years. My monthly payment on the car is very low to about $125 a month. The plan is to either trade it in/sell or to just give it to my child for when they graduate high school in two years.

[tjim]

If you don’t factor in depreciation, the earnings from liquidity are significant. I don’t understand why some people consider buying a car as if it were an asset, at the end of the day, a car is primarily a tool for you, you would always had to have one for your work (especially if you’re an entrepreneur), and your family. That being said, these numbers are definitely important to consider. I currently drive a 5th-gen RAV4 (full gas), and I love it, but I’m seriously thinking about switching to an EV. These cars just make life easier (tech-wise), and I believe it would be a smarter move for me and my family.