What is the Yearly Cost of a Tesla? My First Year Owning a Tesla Cost Breakdown


Paul Whisler

100 Comments

  1. Why do you need to be in a sound booth? So the BS doesn't leak out I suggest!. Great that you made savings, forget about the cost to the environment for the use of rare metals and non-recyclable plastics/composites in your Tesla!

  2. I am considering buying a Tesla…actually have a model 3 on order but when I go into the Tesla dealer…they are pushing hard for me to buy and S or X as it would be a better option. I did a monthly pricing comparison on what it cost to own a Tesla and several other models in which we are considering and due to the miles we drive and the expense of the car…it comes in at the most expensive car option. We commute around 36,500 miles a year.

    cars I compared…X, S, 3, Macan, F-Pace, Pathfinder, Altima and my current 05 Acura TL (current car…175,000 miles on it)

    X – 20,000/year
    S – $18,960/year
    3 – $15,240/year
    Macan – $16,610/year
    F-Pace – $14,287/year
    Pathfinder – $13,507/year
    Altima – $10,979/year
    2005 Acura TL – $4,706/year

    Things I considered were insurance, Gas or KW, service/oil, tires and Payments (72 month loan with $5,000 down)

    Also…they neglect to tell you that you have to do service on your Tesla every 12,500 miles…which is about $500 average each visit. (so that is about $2,000/year for the amount of miles we commute)

    I am having a hard time justifying the Tesla….and it is an ongoing argument with in the house hold 🙂

    I did drive an X and I feel like it is a shiny object right now with the doors and bells and whistles. The simplicity jaw dropping and it really is an amazing automobile…I think…for a cost or is my judgment being clouded.

    Great videos by the way!!

    I would like to know your thoughts?

  3. Gas prices are pricey everywhere else, but the U.S. friggen 1.20 -1.30/L which is 70-80$ a tank a week..

  4. From Palm Springs, where the charging is cheap and abundant; Our 1st lease was a compliance Spark. Mischief and fumbling on the part of the dealer cost them the deposit after BBB showed they were leaving themselves open to a "bait and switch" claim. That notwithstanding, the car was delightful, paid $2500 cash from the State and cost two front tires and two wiper blades (It never rains so you never have usable wipers when it does). Insurance stayed the same as the previous Toy Truck. $221/month/36 months, we used 18,000 miles of 32,000 (or so) allowed. Chevy "threw" in a Bosch level II charging machine that still has the plastic on it. 2 or 3 dozen city chargers are available, I can walk the dog to two when needed. Our 45 yr old house is being upgraded slowly, but doesn't need another 10 kwh/day tacked onto it's already "red-lining" electric bill. My wife is at the hospital almost everyday but I hesitate to clutter her schedule so I take my "VR ready laptop" and arrive early to charge the car when necessary, on days when the car needs it.
    Eight years now and I can't get the maintenance people at the hospital to install a "private" 120 V outlet in the underground parking. We use an existing outlet, along with a Rube Goldberg security tether of cable and locks. The Scottish blood in me noticed back in 2008 that fuel is free in California. The monthly cost of ownership was less than a (comprehensive) bus pass in Toronto.
    End of lease I asked Chevy for another and we could not find common ground so I walked across the street to Chryco's show and got a Fiat 500e for $2100 down (covered by the State rebate of $2500) and $121/month. Almost the same car but in "Italian clothes". I haven't bought or burned a gallon of gas since 2008, or (almost) any fuel. We have a Chargepoint card but even that is covered by the hospital, for some employees. I'm about to light up the Level II charger at home, right after we install the 5kw Solar PV system, (working on it now) which will cover the car, until we move up to Tesla! God save us, is there no end to the acquisitions! I haven't had this much fun since before I was married.

  5. I think your data have problems. if you assume most/all of your super off peak was because of the car how do you explain the huge difference between 2/28 and 8/25 when you drove around 720 miles. in august you actually used more energy overall in that month than feb so there's no way it was because you were on a lower tier. and 2/28/16 and 2/28/17 rates are similar but in 02/2017 you drive 1003 miles vs 720 miles in 02/2016. also, when almost every other tesla user is reporting about only 30-40% cost of gas cars, your numbers are unusually high.

  6. Out of warranty repairs are astronomical and it eats through tires quickly. You left that out of the equation.

  7. I used to have a fuel cost of $600/month (Canadian) for driving 5,000km (3,000mi) every month. Previous vehicles were both 2011 Mercedes's ome a C300 and one an ML350 diesel. Maintenance for Mercs was at least $5000+/year owned them 3 years.
    Tesla Model S costs $80-90/month in electricity @$0.11/kwh for all that driving and no maintenance. Easily $10,000/year savings plus I have to insure one less car as I have no need to have an extra Merc to rest the other. I love our Tesla! Our Prius is gathering dust.

  8. Just take depreciation as a hidden cost factor into account. It is a luxury car after all.

  9. If we are planning human colonization of mars by 2024 why do we have to rely on a $12,000 antiquated battery to power the Tesla?! I can buy a new car 🚗 for the cost of that crappy battery ! Not to mention that the coal industry is supplying the electricity! I truly believe Tesla in 2017 is all marketing !

  10. supercharging is very cheap isnt' it?? and if you charge at home then who really cares about supercharging

  11. So in 20 uears you might break even. Fyi your mpg of 22 for gas cars is way low.

  12. Many people commenting here seem to forget that your costs will drop like a rock after 36 months. Month 37 will have ZERO loan expense. (Obviously there is still Opportunity Cost from money tied up in the car.) But it sounds like a very attractive deal to me. Sign me up!!

  13. Whyndo tesla owners feel so compelled to make youtube channels around their cars.

  14. I'm driving Chevy Bolt.
    So far I drove 2.5k miles and spent $5 on charging.
    So far so good -)

  15. $100 a month covers 3 cars, home and life insurance? Where do u live ? Im paying $125 a month for just one car after 20 years of driving and no tickets or accidents. Life and home insurance is another $125.

  16. This fucking TOOL spent $18K in his first year of ownership? You could have purchased a brand new Hyundai Accent for that, MSRP, and come away with lower operating costs, screw Mother Nature and the shit environment. If this TOOL wants to "feel good", he can take all his excess cash and put it in my pockets, I'll find better uses for it.

  17. not bad – very well formed video ty for that. I'm waiting for a truck though – if tesla made a pickup id be all over it. I hear its in talks.

  18. Interesting video. i don’t know how this compares to the States, but In the UK, for those of us who need to drive for business,, we can get a yearly tax rebate of .45p per mile for the first 10,000 miles to cover the cost of fuel and wear and tear of the car. after 10k miles the rate drops to 20p. so a second hand tesla makes a compelling argument in certain circumstances – particularly if you can super charge as you get £4k plus back per year. These rates are due to fuel being very expensive in the UK (£4.50 per US Gallon currently , but was £6 not that long ago ) however, if you compare. to a similar age E or S class merc the E class would cost around 20k and s class,around 35k to buy which is about 25k to 10k less than a comparrible used Tesla, so it’s not a strait forward choice on costs. But as we all use diesels here, a tesla is way greener, much more fun and generally cooler. and there are various other rebate and perks such as free parking, not having to pay a charge to drive into london etc.

  19. 17k first year? For those kinds of costs I could have 2 real luxury cars at the same time for less than that

  20. 30% average fuel savings / month for Electric charging vs average price of gas /month
    however considering the differential in cost and the monthly payments for say a RAV4 Hybrid roughly about $501 for the IC hybrid car vs $1856/month: 72 months at 7% rate for both cars "a Model S is a very expensive proposition about 3x+ as expensive for the electric lux sedan for 4/5 family size.

  21. I Wil ask you when coming time to replace battery.. To trade that car you gonna get nothing. Tesla is a waste of money

  22. I was curious about registration. How much did they charge you to register your Tesla?

  23. 100 bucks a month insurance? That's crazy, here in Bulgaria car insurance is roughly 400$ per year

  24. Electricity is more expensive in the US than Europe and gas/petrol is so much cheaper that it makes it less worthwhile having an EV. The price of a gallon in the UK is about 7pounds I.e. about 9 dollars (admittedly our gallons are 4.5 litres I think the US one is about 3 litres) but still it's a massive difference. But on the excel sheet he's paying 70 in electricity and 75 in gas. In the UK that would be 60vs say 180, about a 3rd

  25. Ideally you should be reworking this to take into account depreciation. It's irrelevant how much you're paying off your loan per month. If you're Tesla depreciates 5k a year and a gas can 7k a year it helps to prove that Tesla's are cheaper (or maybe more expensive)

  26. Wow your insurance cost is very low, compared to my. I am paying $4600 for 2 cars, 1 house, umbrella and life. Why your cost is so low? What is your insurance company?

  27. The data analysis point of view is PERFECT. Exactly what is needed.
    (Talking about YouTube videos which dip their toe in data).
    An intelligent data driven decision making approach is to be leveraged far more than a perception based one, and you are great at it.
    Looking forward to more of your videos and analysis.

    P.S. how about a different channel which focuses more on the data side?
    something which showcases how you approach data, its cleaning, your approach towards the analysis, the tools that you can use for that, how best to use that etc etc

  28. This is based on you paying for all the electric your using correct? If someone had solar to charge their car i'm assuming the cost would be a lot lower than your break down?

  29. Bob Lazar showed how you can use solar power to charge up your car while you are at home. Tesla really needs to make a retrofitted kit that uses battery packs, to create hydrogen, to power existing gasoline cars. It would be very easy to use bolt on parts that can literally be bolted on, to convert a gasoline car to a battery pack powered, electrolysis-hydrogen, fueled car. No internal engine modifications are necessary. It makes sense from an environmental standpoint to retrofit existing cars for people who cannot afford a brand new car. The added benefit is that the oil companies can still profit on oil changes, grease, gear oil, brake pads, rubber belts, timing belts, gaskets, silicone seals, ATF fluid, power steering fluid, brake fluid, anti-freeze, and lead acid batteries. This helps the oil companies stay in business, and have a way to maintain profit, so that they can benefit until they find their own method of transitioning to new energy technologies. I'm thinking in terms of what is fair for all.

  30. The long range non-standard battery should be considered as "fuel cost". Why? An ICE car goes it's max range with the gas tank that comes with the car, you need to pay $$$$ extra for the battery upgrade to go the Model S max range.

  31. It makes no sense…. paying that much money a month. I bought a brand new car that cost me $50k and I was paying less than $400 a month for 3 years.. yes I put $25k down. but why buy a car that still cost you an arm and a leg monthly

  32. I have a Hyundai Equus which Equus is Hyundai’s top tier car. It is definitely 22/23 mpg. and they are comparable in size. Probably not in weight! Definitely not in cost! The Equus is more expensive.

  33. My volvo v50 -05 1.8l this year

    buying the damn thing: 1,500$
    Insurance: 230$
    Tax: 180$
    Petrol is kinda expensive at 1.60$ where I live and car slurps 8L/100 (29mpg) but still…

  34. so you spent $17,000 YTD on the car and emphasize on your savings. lol bro u spent a lot of money and you get to drive what you want. the real factor here I think everybody wanted to know is if you had to pay for maintenance and the short answer is: no youre covered for only 4 years. Which you will have 1 year to be covered because you're wealthy enough to have a 3 year loan on a $50,000 car. My used BMW was $17,000. Ive had it for 4 years. Spent about $1000 on maintenance from parts to labor. I can assure you anybody who isn't spending whopping amount of money on a car with a 3 year loan is getting much better savings.

  35. tesla is a hipster food, nothing more. whatever you save up un gas ends up in Elon Mask's pocket because it costs stupid ammount of money comparing to equvivalent luxury car. its nowhere near as nice as mercedes or any other cars in same price range, funishes are so so, all parts that car is made from cost little to make so car should cost 2/3 of its price at least.

  36. Very well thought out! What i would be curious to know is where your electricity is sourced from… Is it petroleum??

  37. I work from home. Do not drive much. Pay $1200 per month. I think somebody needs a lesson in economics!

  38. It would be interesting to see the savings in the UK, as gas prices are so much higher here! I'm not sure about the electricity cost comparison though.

  39. an entire year's fuel savings doesn't even equal 1/2 of a single payment. Also, the DIA ETF grows 18% year over year, you'd be better off extending the term and investing the difference.

  40. That's crazy 50,000 for a car. I have a beater Honda Civic for 18 years and it has over 300000 miles. I'm saving more money than wasting it on a $50,000 car.

  41. Without being able to take advantage of the full $7,500 federal tax credit and additional thousands of $$$ in state/local rebates, buying a full electric version of any car of the gas-engine model doesn't pencil well (VW Golf, Kia Soul, Chevy Spark, etc.).

    Assuming a difference of 4-cents per mile for electricity versus 10-cents per mile for gasoline (current prices in so. Calif.) you need to drive 167,000 miles to break even without tax credits and rebates. Yes, you'll save some oil changes and smog checks, less frequent brake pad replacements, but until electric battery prices come down even more substantially, EVs are very expensive.

    The depreciation on a $35,000 EV is $7,000 or more per year for the first three years depending on make, model and miles driven – I know because I leased a 2016 e-Golf and the residual after 36-month lease with 22,500 miles is about $12,400.

  42. For all Swedes out there, thats 12 800 kr /month for a used Tesla. You can get 2 new Volvo xc60 hybrids leasing for that amount. + the volvo hybrid has lower LCC than a Tesla and lower Life time emissions.

  43. Good first try. But to be more realistic you need to compare to the vehicles that people would consider as an alternative to Tesla, rather than an average luxury sedan. Those who look at Tesla also look at hybrids and PHEVs.
    It also make sense to compare the purchase price and the realistic cost of financing and the loss of opportunity cost. The interesting wrinkle here is that people tend to buy expensive cars when the economy and market doing well, and thus the opportunity loss cost is the greatest.
    Then you would need to factor in the depreciation. There are many more factors that can sway the equation, but even considering these few would make Tesla a losing proposition.
    Bottom line, you buy Tesla (or any other expensive car for that matter) because you like it and can afford paying for your whims, not because it's a saving mechanism, because it's not.

  44. Thanks for the info! Did the numbers on mine. It would cost me about $500 less per year to daily my 4Runner (which I own out right) vs. financing a Model 3 AWD Long Range and dailying it like I do. Assuming I don't need major maintenance on the 4Runner which is a 1996 with about 316K miles on it (runs like a champ btw! lol) Insurance is included in this to.

  45. Damn man you're gonna pay that thing off fast ! Hopefully you're throwing more money than the monthly to get your cash to principle. Then you'll have an extra $1,300 in your pocket each month and a Tesla ! Lol

  46. Tesla may be asking you for a loan since they are in crap and bleeding money haha, they are asking their suppliers for money back as they have no money pmsl

  47. I have a question if you can help me. What's the DMV fees for an electric car?

  48. I hate Tesla especially because the pricing through ideas phenomenal and could change the world reduce omissions carbons and literally if he made them affordable hugely hugely would impact the environment but now it’s all a money game that’s why I hate it

  49. Buying a Tesla is a investment in clean energy technologies. Tesla reinvests $ from sales into mass production to ultimately lower cost. This is and will always be the case with innovation of technology. At 400,000 miles (low estimate) you might need only replace bearings on electric motor. The motors themselves with no moving parts, will run basically forever.
    Hidden costs Vs not hidden:
    1. Gasoline
    2. Oil change every 3,000 mi
    3. Interval maintenance beyond warranty.
    A. Brakes
    B. Fuel injectors
    C. Timing belts
    D. Catalytics n mufflers
    E. Transmission fluid/filter
    And on and on and on…..
    Buying a Tesla is an investment in clean renewable energy technologies. It's of the utmost importance that america keeps leading the world in automanufacturing .
    Electric vehicles are the future.
    Air pollution
    Water pollution
    Noise pollution

  50. The savings are not worth because the Tesla dealer is the only one can fix their cars. So we have pretty much no other option other than to agree to whatever price they ask to fix an issue.

  51. Electric cars are costly to repair. And as far as safety goes, they are more prone to catching fire.

  52. I don't care about costs. I will not own any electric car even if I get free charging. It's so boring to drive 2 pedal cars. It's like those go karts kids play with.

  53. So the biggest thing that’s holding me back from buying a Tesla is the horror stories of people having to try and fix build quality errors. Door handles, windshield wipers, squeaks and rattles, etc. The main draw I have for Tesla’s is that it’s low maintenance but it seems to be high maintenance. I have a 2013 Mazda3 hatchback right now that I bought new and haven’t had to replace anything on it besides brakes, tires, and spark plugs. Will Tesla hold up similarly or will I spend the same amount or more replacing parts that should work fine on a new car? I’m not broke but I’m also making less than $100k per year and am willing to invest in a Tesla so long as it doesn’t cost more $1,000’s more each year on top of the initial cost.

  54. If you want to save the planet. Just don't buy a car. Walk or use public transport. Electric cars are not the solution.

  55. Serbia – the country that brought you Electricity(Tesla) and Atomic Bombs(Einstein&Mileva Maric)

  56. Wow my fuel cost saving is epic! I bought a 2013 model s pearl white with 21 turbines (DOPE!) Because I drive 1000 miles per week commuting from PA to NJ to work,about an hour commute(87 miles)..4000 miles per month easy with weekends. My cost of fuel was $800 per month!! So that savings totally covers payment of car PLUS i actually pocket what was my other cars payment($500) PLUS the two oil changes per month and whatever maintenance came up. This is the best decision i've made in my life. LOVE MY TESLA! Great channel keep up the great data work!

  57. Anyone who studied economics would think he is about to run a regression

  58. Great video, i would love to know if the car size you chose was the same weight as your tesla? I think that could be more acurate. Thks agin

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