TESLA MODEL 3 COST OF OWNERSHIP COMPARISON vs Toyota Camry in 5 years

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Model 3 Cost of Ownership Comparison with Toyota Camry over 5 years | See how Model 3 costs to own compared to Toyota Camry over 5 years after taking into account depreciation, taxes, fuel savings, maintenance and other metrics | Sydney Australia | Tesla Tom | Ludicrous Feed
TESLA MODEL 3 COST OF OWNERSHIP COMPARISON vs Toyota Camry in 5 years

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00:00 Welcome
00:44 Introduction
01:22 Total Cost of Ownership Website
04:33 Results
06:05 Depreciation
09:35 Adding Solar
11:49 Drive Distance Settings
13:15 Happy Charging

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ABOUT LUDICROUS FEED

Ludicrous Feed is a Sydney-based YouTube channel that started in 2018 after Tom purchased his Tesla Model S. He wanted to show the reality of Australian daily life with his family and an electric vehicle. Tom provides straightforward candid insights into key issues around EV adoption such as vehicle range, charging infrastructure and road trip planning. The weekly live stream provides an opportunity for audience members to engage with others from the EV community as well as to stay up to date with the latest industry news. Tom also has a Tesla Powerwall 2 coupled with rooftop solar and has reviewed many other electric vehicles for the channel including brands such as BYD, Polestar, Volvo, MG, Hyundai, Genesis, Kia, Cupra and Rolls Royce.

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[vince]

As an owner for lexus es350(camry upgrade). 10years of ownership 120k+ miles, bought used(at a price of lower than Camry), it did not even cost me 10k on maintenance up til today(two sets of tires, Ac broke down once). That's including higher cost of living here in bay area/silicon valley. You forget the reliability that this robust japanese car company offer. Camry didn't dominate the consumer market over a decade without a reason
The double insurance cost is another thing too
Extra money you saved from maintenance/insurance can buy me another camry in 5years

[Cryptc]

Camry depreciation is only about 50% after 5 years (~$14k) and average maintenance is only ~$400/year or $2000 total. If true, the cost of ownership you provided is off by $11k for the Camry. Easy things to google... please correct me if I'm wrong. Cheers!

[PKDN]

In 5 years you can do a cost comparison of buying a used model 3 vs a used camry and see how that goes!

[JoshuasRecordings]

Who the hell spends 7k on maintenance over 5 years on a Camry or 11k for fuel? The gasoline car prices seem really inflated. That means you drove 158k miles or there about in 5 years. Don't know how much i trust your calculator.

[souravabe]

The taillight of my Camry was broken, went to rockauto and purchased the whole light set for $45 then a local shop installed that for $25. The total cost was 70$. For Tesla, that easily would have been a 500-mile drive and thousands-dollar repair. Also, don't forget that you have to pay at least twice the insurance fee for Tesla than Camry.

[thebowlerusa]

Add the insurance cost (here in US), then that's where it will show the big difference.

[jungleboyfromoz]

Would love to see an update on this calc based on todays pricing (highland 24 / Camry 24 & todays fuel pricing for both)

[fenix]

Don’t you have to pay for the solar too ? Over 20 years? Tesla’s not just going to give you a solar roof

[terrytankersly]

Econ 101 - Opportunity Cost. If you take the 20, 000 initial price difference and invest it for 5 years with a reasonable 7% growth you'll end up with an extra $8, 000/approx. Its disingenuous to ignore this as an additional "cost" you incur when you purchase a more expensive vehicle. Electric vehicles are amazing and the future of transportation but its important to take an honest look at the full cost of purchase and not cherry pick data that makes Tesla look good.

[scottbeesley]

Coming here after hearing you on Dev Raga's podcast. Nearly spat out my food at the $1.26/L price for petrol! wow! Crazy how much it's gone up in just 3 years.

[tomr]

Pointless comparison. I'd love to know where I can buy a 2016 camry with 100k for under $9000! And then there's the fixed price servicing...

[roryreddog]

Great comparison thank you...Interesting that depreciation was $48, 000 for the Tesla. That appears way too high. 18 month old Models 3's are selling almost at full retail price and in the US the average depreciation is only 10.2% after 3 years. Incredibly, I believe a more realistic 5 year value would tip the scales to the Tesla.

[TeslaInTheGong]

This is a much needed comparison mate.

[pierre]

Interesting comparison. I am wondering how numbers would change comparing Tesla to a hybrid model.

[cupompa]

That depreciation though. On par with the Germans!

[ponsaravanan]

Thank you for NSW transport website :)

[BJHermsen]

Using a 2019 camry doesn't account for price increases over 2 years for a new car. Why not compare to a 2021 model year vehicle?

[jeremyv]

Idk the pricing for Australia but in America used model 3 with around 50k miles going for about same price as new.

I got mines in dec a 2021 LR. And cost is very cheap to run compared to a conventional ice car. 12$ a month in electric bills and 700$ for 6 month full insurance. On a regular car I spend 250-300$ on gas alone. And cost to maintain is nothing because it’s under warranty 4yr/50k miles. And battery and drive is covered for 8yr/120k. Literally only need to buy windshield washer fluid lol.

I was a bit skeptical about electrical car but savings over time and resale value is astronomical. For ice cars need maintenance every 3-5k miles(oil change), then there are belts, fluids, mechanical components that need to be changed over time not covered by warranty.

[rich.trails]

I bought a 7 year old Prius last year for 5k. Not hard to get 55mpg. I'll be looking at a 2020 model 3 in 10 years or so.

[MatthewBayard]

We just found that website. We already have a 6.2 KW solar system at home here in Melbourne. We daily drive a Sprinter Van ( 10lts/100kms). So the savings we will get with our soon to be delivered Model 3 is massive. Thanks for the tips.