Owning a Tesla Model 3 Standard Range Plus for four years may seem like a dream come true for many Electric Vehicle enthusiasts. But what is the real cost of ownership for this popular electric car? In this blog, we will break down the total cost of owning a Tesla Model 3 Standard Range Plus for four years, including fuel, depreciation, tax, repairs, servicing, tires, and more.
Let’s start with the service costs. The author mentions that they have only serviced their Tesla once in the last four years, costing them £221.50. This is significantly lower than what they would have paid for servicing a traditional petrol or diesel car, which usually requires more frequent maintenance.
Next, let’s talk about tax. The author mentions that the road tax for their Tesla is zero, which is a significant advantage of owning an Electric Vehicle. This saves them money on an annual basis, unlike traditional vehicles that require road tax payments.
Tire costs are also factored in, with the author estimating that they have spent £1,980 on tires over the four years. This is a common maintenance cost for any vehicle and is to be expected over time.
Fuel costs are where owning an Electric Vehicle really shines. The author breaks down their fuel costs, with the majority of their miles being done from home charging. They estimate that they have spent £1,000 on home charging and £750 on rapid charging over the four years. This is significantly lower than what they would have spent on petrol or diesel for the same mileage.
Depreciation is another factor to consider when owning a car. The author paid £40,000 for their Tesla and estimates that its current value is around £18,000. This means they have experienced a depreciation cost of £22,000 over the four years. While depreciation is a significant cost for any vehicle, the author notes that the Tesla Model 3’s depreciation has been in line with industry averages.
In total, the author estimates that they have spent around £65,000 to own their Tesla Model 3 Standard Range Plus for four years. This includes all the costs mentioned above, as well as insurance costs that have remained relatively stable over the years.
Overall, owning an Electric Vehicle like the Tesla Model 3 Standard Range Plus can be a cost-effective and environmentally friendly choice. While there are upfront costs to consider, the savings on fuel and maintenance can make it a worthwhile investment in the long run. If you are considering purchasing an Electric Vehicle, it’s essential to factor in all the costs associated with ownership to make an informed decision.
