The math behind owning a Tesla
Getting an electric vehicle has its perks., if you want a clean environment, want to avoid the use of oil and gas, want to save gas money and oil changes, Tesla can be an answer to all your needs. The most popular car of Tesla is the Model S. this model offers few options to the buyers. In the US, Tesla offers three different selections of Model S. these models differ based on battery power and number of motors. Let’s have an overview of the Tesla Model S and its specifications, expectations, and the estimated cost.
Major perks of owning a Tesla
Tesla is quite expensive when we simply look at the price. The most popular car in 2021 model S starts at about $82000. But if all the benefits of owning a tesla are considered, it can turn out to be an affordable vehicle that does not need any gas to run or oil changes. Furthermore, Governments offer tax breaks to the electric vehicle owner. The maintenance cost of Tesla is also comparatively lower.
How much to buy a Tesla?
The cost of buying a Tesla Model S is high, it has a reputation of being an expensive car. Edmunds disclosed the MSRP for a 2021 Model S $81190. This price does not include any options or upgrades. The packages that offer Plaid or plaid+ trim reach to higher cost of $121,190 to $141,190 respectively. Although, the basic cost of model S begins at about $50,000.
These varying prices do not offer add-ons. Add-ons help boost the driving experience. Tesla vehicle has several extra features for an additional cost of $2500 each, the features include autopilot, smart air suspensions, and an enhanced sound system. The executive rear seats cost $3,000, a high-quality finish for the car is around $5000. Tesla also offers the subzero package for an extra $1000, and $3000 can get additional seats as well.
All these above-mentioned features are additional and optional. The extra cost is only depending on the buyer’s choice if the buyer wants to include additional features to the base model. Although the initial tax credit by the federal government has stopped for Tesla, many states like California, Colorado, Georgia, Utah, and Massachusetts offer state tax incentives to balance the expensive cost of buying a Tesla.
Is Tesla Worth Buying
Buying a tesla car is just like buying a home. Undoubtedly, this is an expensive car. But the initial high cost can slowly recover over the years by saving on gas and maintenance. It also depends on how much a buyer wants to spend on a car, the priorities, and long-term calculations. Some major advantages of buying a Tesla, and how it can help save in long run, are discussed below.
No More Gas refills
The most important attraction of an EV is: saving on gas, no more gas refills. With a 34 kWh/100 mile and average cost of electricity is $0.12/kWh, if the average yearly drive of a Tesla Model S is 15,000 miles, the cost of charging will be $612. On the other hand, a Toyota Camry will cost $1,و200 gas for an equal distance. The prices of electricity do not fluctuate like the prices of gas, in long run a model S will cost an average of $1,و000. It also helps save time from not stopping at a gas station every morning. The tesla just needs a Plugin at night, unplug in the morning and you are ready to go.
Savings on maintenance
The electric engine of Tesla does not need as much maintenance as an ICE (internal combustion engine). An electric engine is far easier to maintain as it has fewer moving components. The Tesla battery has an eight-year warranty with unlimited miles. The car also has a $600 warranty and an offer for a yearly inspection. Tesla further provides an incentive to finance the vehicle. Tesla gives an option to buy the vehicle back at 46% of the purchased price, which is around $3,7347 for a 2021 Model S. however, tesla does not offer financing on all their models and in all states.
Do The calculation
The initial cost of the Tesla Model S, with all options included, is $9,5690. When buying, if you do not put money down and can avail of the 2% financing over 5 years the overall interest over five years will be $4494, which makes a total cost of $100,634. The Teslanomics (subtracting every possible dollar to lower the monthly payment) provides clear calculations. The yearly gas saving of $600 and average $400 saving on yearly maintenance, makes a big difference. Tax benefits are not yet included. In five years, the saving adds up to $5000. The tesla cars last so long that there will be no apparent need to change the vehicle.
The final words
A luxury sedan, Lexus, or an Audi cost an average of $730 per month. While. With the same money, a Tesla Model S can be afforded. The benefits and perks of owning a Tesla are a bonus. After all the maths it is easily concluded that buying a tesla is not more expensive than any other luxury vehicle.