RippyD
Active member
- Jan 24, 2016
- 1,258
- 4
Well... let's do the math. I can get a Tesla Model 3 for ~$32k after the tax rebate. Let's call it $34K to be safe.Lets see how well it fits in about 10yrs. when the battery needs replacing at a cost of around $20,000+ dollars.
Yea I know they claim they’ve somehow improved things now but how do we really know they’re not just saying that with stories out there these days talking about the horrible re sale value of these 1st used EV’s that require high cost maintenance.
Just imagine how bad things would be if the used car market we’ve grown accustomed to were no longer available and everyone was forced to buy a new car that only lasts about 15yrs. before you’re forced to buy a new one again. I could be wrong but if there’s a possibility of that it would suck really bad. Remember what they did with the cash for clunkers and the long term effect it had on todays used car market.
Teslas seem to go well over 200K on the original battery. There are some exceptions, but the norm seems to be significantly above 200K. But we'll say 200K miles.
There is virtually no maintenance on a Tesla. So for 200K miles you're paying $34K * ~$0.05 per mile to charge. For 200k miles this is $44000. Assume the value is close to $0 because it needs a new battery. Add $5K for maintenance, which I doubt it would need, and you're at $49K.
Compare this to a base Camry for $28K. (Btw, I have driven both. The Tesla is a far nicer car to drive than a base Camry. No comparison.) The Camry gets 28 MPG city. Gas cost for 200K miles is ~$30K. Without any maintenance the cost is $58K. Say the residual value is $10K. That's a cost of $48K. So they are about even in terms of cost over $200k. Of course the Camry will need brakes, and oil changes, and a battery or two, a starter, alternator, maybe some engine work. Is that $5K? $10K?
Tesla is a break even or better proposition relative to a gas car. And I'm being very conservative with the Tesla estimate above. The residual value is higher than $0.