As the Electric Vehicle market continues to grow, more and more people are considering making the switch to a Tesla Model 3. With its sleek design, impressive performance, and eco-friendly features, it’s no wonder why this car is becoming increasingly popular. But one question that many potential buyers have is, how much does it cost to maintain a Tesla Model 3?
According to recent data, maintaining a Tesla Model 3 will cost about $3,587 for maintenance and repairs during its first 10 years of service. This may seem like a hefty price tag, but when compared to the industry average for luxury sedan models, the Model 3 actually comes out on top by 8.37%. This means that, on average, owners of a Tesla Model 3 will spend less on maintenance and repairs than those who own other luxury sedans.
In addition to the cost savings, there is also a 8.64% chance that a Model 3 will require a major repair during that time period. While this may sound concerning, it’s actually 30.92% better than similar vehicles in the segment. This means that owners of a Tesla Model 3 are less likely to experience major repair issues than owners of other luxury sedans.
To illustrate how these costs and repair probabilities will increase over time, let’s take a look at a hypothetical scenario. In the first year of ownership, the average cost of maintenance and repairs for a Tesla Model 3 is $358. As the years go by, this cost will gradually increase, reaching a peak of $912 in the 10th year of ownership. While this may seem like a significant increase, it’s important to remember that these costs are still lower than the industry average for luxury sedans.
In terms of repair probabilities, the likelihood of a major repair occurring in the first year of ownership is 3.2%. This number will also increase over time, reaching a peak of 12.4% in the 10th year of ownership. While no one wants to deal with a major repair issue, the fact that the Model 3 has a lower probability of experiencing these issues than other vehicles in its segment is definitely a plus.
Overall, when it comes to maintenance and repair costs, the Tesla Model 3 is a solid choice for those looking to save money in the long run. With lower costs and a lower probability of major repair issues, this Electric Vehicle is a reliable and cost-effective option for luxury sedan buyers. So if you’re in the market for a new car and are considering a Tesla Model 3, rest assured that you’ll be making a smart investment in terms of maintenance and repairs.
