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Tesla Model Y AWD: 1-Year Cost of Ownership for 20,000 Miles

One Year with Our 2023 Tesla Model Y: A Family’s Journey into Electric Vehicle Ownership

When my family decided to venture into the world of electric vehicles (EVs) by purchasing a 2023 Tesla Model Y with all-wheel drive, we were both excited and a bit apprehensive. Fast forward to a year later, with 20,000 miles on the odometer, it seems like the perfect time to share our experiences, particularly in terms of cost, convenience, and overall satisfaction.

The Transition to Electric

Transitioning from a traditional gas-powered vehicle to an EV felt like stepping into the future. The Tesla Model Y offered a smooth ride, impressive acceleration, and the quietness only an electric motor can provide. However, the real test was not just in the driving experience but in adapting to a new routine of charging instead of fueling up.

Charging: Setup and Costs

We opted to use an NLX Juice Box charger leased from our power company, which allowed us to take advantage of off-peak charging rates. This setup requires a flat rate electricity charge of 13.6 cents per kWh. To utilize off-peak rates, we needed a specific charger provided by the utility company, which came with its own set of challenges, including the need for a NACS adapter. Despite these hurdles, the cost savings were noticeable. Charging from midnight to 8 a.m. significantly reduced our electricity bill, even with two EVs at home.

Over the past year, our electricity bills have shown considerable fluctuation, from $146 to $183 monthly, depending on usage. With the installation of the Juice Box, we could track our usage meticulously, distinguishing between peak and off-peak consumption, which helped in managing costs more effectively.

The Second Tesla Model Y

Seven months into our journey, we decided to add a second Tesla Model Y to our garage. This decision brought about new considerations, such as whether we needed a second charger and how to manage charging schedules. Fortunately, I could charge at work, which alleviated the need for an additional home charger. This setup worked well for us, as it balanced out the charging needs without incurring extra costs.

Cost Breakdown

Here’s a breakdown of our costs related to the Tesla Model Y over the past year:

  • Electricity for Charging: Approximately $56.91 monthly for both vehicles, with the majority being off-peak.
  • Additional Costs: The lease of the charger added about $20 to our monthly expenses.
  • Insurance: Initially miscalculated in our budget, the corrected insurance cost is roughly $63 per month per vehicle, reflecting a more accurate figure.

Maintenance and Unexpected Benefits

One of the unexpected benefits of owning an EV has been the low maintenance cost. Apart from tire replacements and regular checks, the Tesla Model Y has required little upkeep, thanks to its fewer moving parts compared to traditional vehicles. Additionally, the safety features and advanced technology not only made our rides safer but also occasionally lowered our insurance premiums due to fewer claims.

Reflections and Future Thoughts

A year into owning our Tesla Model Y, we’ve found that the benefits far outweigh the initial hurdles. The cost savings on gas, reduced maintenance, and the environmental benefits of driving an EV have made this a worthwhile investment. Looking forward, we are excited about future updates and the potential for more streamlined charging options as automakers standardize EV technologies.

As we continue our journey with Tesla and explore further into the world of electric vehicles, we remain enthusiastic about the advancements and the positive impact they have on our daily lives. The transition to electric vehicles might seem daunting at first, but the long-term benefits are clear and compelling. Whether it’s the quiet, smooth rides or the joy of skipping the gas station, the shift to electric has changed how we view driving.

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