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The analysis below finds that a Tesla Model 3 actually has a slightly lower cost of ownership over 5 years than a Toyota Corolla! I realize that there is some "windage" in any such analysis. However "fuel" cost being significantly lower is found in every analysis, and the powertrain of most EVs is significantly simpler than for an ICE car. At minimum, I think that this shows that the TCO is a lot closer than it appears at first. The Audi is found to have a far higher cost of ownership than the other two, which isn't going to shock most people.
A Corolla is a vehicle that a lot of people buy when they’re younger and couldn’t get financing for anything much more expensive. Teslas used to qualify for a $7,500 tax credit, but it’s slowly sunsetting.
If someone were considering a BMW 3-Series or Mercedes-Benz C-Class, then I wouldn’t hesitate in recommending a Tesla Model 3. Those three vehicles are similarly priced and sized.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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The biggest difference is in the cost per mile, that is, gas vs electricity. Both are subject to change in either direction, so what may be a small advantage now for the Tesla could in the future be a much greater advantage, or it could end up costing more, when electricity rates go up to accommodate the expanded infrastructure. Even now many cities (Seattle, for example) are attempting to reduce their greenhouse gas footprint by reducing or eliminating not only ICE vehicles but also natural gas, for vehicles, and also for homes (Berkeley, CA) in favor of clean electricity. Already the demand is greater than the supply in some areas resulting in brownouts.
This is assuming that you can afford to finance a 2X more expensive car.
Long term ownership of a Corolla, no problem.
Long term ownership of a Tesla... given their bottom feeder reliability, a very iffy proposition.
Once the warranty's up, you're keeping one and dumping the other.
And don’t forget lots of complaints from people who own Teslas and can’t get parts. Considering they are on the used car market parts should be available. Even general parts like brake stuff etc.
you want to keep a Tesla running after warranty....you better have a few wrecked ones you can scavenge parts from.
Way I see it is if I buy a car and it’s mine as a purchase I should be able to do my own work and parts should be available. Until that time I won’t bother looking at a Tesla
-Where they get the resale figures from? A five year old Camry goes for more than that.
-$4000 in maintenance in five years for a Camry? What maintenance has that been?
-Using the average males per year and average gas price, the fuel number is way, way inflated.
The analysis below finds that a Tesla Model 3 actually has a slightly lower cost of ownership over 5 years than a Toyota Corolla! I realize that there is some "windage" in any such analysis. However "fuel" cost being significantly lower is found in every analysis, and the powertrain of most EVs is significantly simpler than for an ICE car. At minimum, I think that this shows that the TCO is a lot closer than it appears at first. The Audi is found to have a far higher cost of ownership than the other two, which isn't going to shock most people.
I hate corolla but hear its been around for 50 years or so..
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