Owning a Tesla Model 3 may seem like a luxury reserved for the wealthy, but in reality, it is much more affordable than you might think. In a recent video by Jonathan on Cleaner Watch, he breaks down the true purchase price and total ownership cost of driving a Tesla Model 3, showing that it could cost about the same as driving a much less expensive Toyota or Honda.
Jonathan starts by highlighting the misconception that electric vehicles are only for the rich, emphasizing that the introduction of affordable electric vehicles like the Model 3 has changed that perception. He then dives into the true purchase price of a Tesla Model 3 Standard Range Plus, which starts at just under $38,000 before destination and document fees.
While $38,000 may still seem out of reach for many people, Jonathan explains that electric vehicles, especially Teslas, have a high value retention rate. This means that when you sell the vehicle, you retain a significant portion of its value, making the actual amount you pay for the vehicle much lower.
Jonathan then goes on to calculate the true total ownership cost of driving a Tesla Model 3 for three years and 15,000 miles per year, including running costs like insurance, energy costs, maintenance, and repairs. He breaks down the depreciation or retained value numbers for the Model 3, showing that it maintains around 90% of its value after a three-year ownership period.
By factoring in maintenance costs, energy costs, and insurance costs, Jonathan calculates the total three-year, 45,000-mile cost of owning a Tesla Model 3 to be around $22,264, or 49 cents per mile. This breaks down to roughly $7,000 per year, making it a much more affordable option than many people realize.
Additionally, Jonathan mentions that there are often local incentives for driving electric vehicles, further reducing the cost of ownership. In states like California, Oregon, Colorado, New York, and New Jersey, there are incentives available that can make owning a Tesla even more affordable.
In conclusion, Jonathan’s analysis shows that owning a Tesla Model 3 is not as expensive as many people believe. With a combination of high value retention, low maintenance costs, and energy efficiency, driving a Tesla can be a cost-effective option for a much broader range of people. So, if you’ve been dreaming of owning a Tesla but thought it was out of reach, it may be time to reconsider.
