The Economics Of Owning A Tesla

I’ve done lots of research on the economics of owning a Tesla, because I realize how affordable Teslas can be for normal, middle-class people, especially compared to their gas-powered luxury competitors. When you own a Tesla, you save thousands upon thousands of dollars on gas. You also save money on maintenance. Teslas are so much more reliable than their competitors. Consumer Reports says that the average ICE (Internal Combustion Engine) vehicle costs twice as much to maintain as an EV over 200,000 miles. This is mostly because EVs have so many fewer moving parts. A Tesla drivetrain has 17 moving parts, versus the 200 or so moving parts the average ICE vehicle has. Another large factor is that EV brakes last so much (about 3 times) longer that an ICE vehicle’s because of regenerative braking. Last but definitely not least, driving a Tesla does so much to save the environment – while you may think that just one more Tesla will make no difference, it really does. Driving an ICE car that gets 25 MPG (and many get much worse) for 200,000 miles will pollute 160,000 lbs of Co2 into the air. After all these savings, a Tesla, especially a used one, would cost about the same or less than a new Toyota Highlander or top-of-the-line Camry.

Here’s my proof:

Tesla vehicles are so much more affordable than their luxury ICE competitors, even though their base prices are similar to so many of them. Here are some examples:

Vehicle	Base Price	Maintenance / repair COst over 200k	Fuel type	mpg*	Fuel Price Over 200K**
Tesla Model X	$80,000	Approximately $6,000 USD	Electric	96 MPGe	About $8000 or less
Lexus LX	$86,580	Approximately $12,000 USD	Premium	14 MPG	About $40,000
Land Rover Range Rover	$92,000	Approximately $20,000 USD or more	Premium	20 MPG	About $28,000
Mercedes-Benz GLS-Class	$76,000	Approximately $20,000 USD or more	Premium	22 MPG	About $25,000
Mercedes-Benz G-Wagon	$131,750	Approximately $25,000 USD or more	Premium	15 MPG	About $37,000
BMW X7	$74,900	Approximately $20,000 USD or more	Premium	21 MPG	About $27,000
Infiniti QX80	$69,050	Approximately $15,000 USD or more	Premium	17 MPG	About $33,000
Lincoln Navigator	$76,185	Approximately $12,000 USD	Regular	18 MPG	About $31,500
Cadillac Escalade	$76,195	Approximately $20,000 USD or more	Premium	17 MPG	About $33,000

Vehicle	Base price	Maintenance / repair Cost Over 200k	Fuel Type	MPG*	fuel price over 200k**
Tesla Model S	$69,420 USD	Approximately $5,000 USD	Electric	116 MPGe	$8,000 or less
Mercedes-Benz S-Class	$94,250	Approximately $25,000 USD or more	Premium	22 MPG	About $25,000
BMW 7-Series	$86,800	Approximately $20,000 USD or more	Premium	25 MPG	About $22,500
Audi A8	$86,500	Approximately $18,000 USD or more	Premium	21 MPG	About $26,600
Lexus LS	$75,450	Approximately $12,000 USD	Premium	29 MPG	About $19,500

Vehicle	Base PRice	Maintenance / repair Cost Over 200k	Fuel type	mpg*	fuel price Over 200K**
Tesla Model 3	$35,000	Approximately $5,000	Electric	140 MPGe	Less than $7,000
Lexus IS	$39,000	Approximately $12,000	Premium	26 MPG	About $22,500
Lexus ES	$39,900	Approximately $12,000	Regular	27 MPG	About $21,000
BMW 3 Series	$41,250	Approximately $18,000	Premium	31 MPG	About $18,500
Mercedes C-Class	$41,600	Approximately $16,000	Premium	29 MPG	About $19,500
Audi A4	$39,100	Approximately $15,000	Premium	27 MPG	About $21,000
Volvo S60	$37,750	Approximately $14,000	Premium	28 MPG	About $20,000

Vehicle	base price	maintenance / Repair cost over 200k	fuel type	mpg*	fuel price over 200k**
Tesla Model Y	$49,990	Approximately $5,000	Electric	120 MPGe	Less than $8,000
Lexus RX	$45,070	Approximately $12,000	Regular	22 MPG	About $25,000
Lexus NX	$37,510	Approximately $12,000	Regular	25 MPG	About $22,500
BMW X4	$51,600	Approximately $16,000 or more	Premium	26 MPG	About $21,500
Audi Q5	$43,300	Approximately $15,000 or more	Premium	25 MPG	About $22,500
Mercedes-Benz GLE-Class	$54,250	Approximately $20,000 or more	Premium	22 MPG	About $25,000
Acura RDX	$37,800	Approximately $12,000	Regular	25 MPG	About $22,500
Volvo XC60	$41,700	Approximately $13,000	Premium (Regular for T5)	25 MPG	About $22,500

Savings with a Tesla:

Model X: Over 200,000 miles, expect to save between $20,000 and $35,000 on fuel. Expect to save between $6,000 and $20,000 on repairs and maintenance.

Model S: Over 200,000 miles, expect to save between $12,000 and $16,000 on fuel. Expect to save between $7,000 and $20,000 on repairs and maintenance.

Model 3: Over 200,000 miles, expect to save between $12,000 and $16,000 on fuel. Expect to save between $7,000 and $13,000 on repairs and maintenance.

Model Y: Over 200,000 miles, expect to save between $14,000 and $18,000 on fuel. Expect to save between $7,000 and $15,000 on repairs and maintenance.

Thanks for reading Our Electric Future! I hope this post may open your mind to buying an electric vehicle instead of an expensive gas-guzzling ICE car!