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!