Tesla Model Y: True Cost After 1 Year

[@RyanShawtech]

Go to NordVPN.com/ryanshaw or use code ryanshaw to get a 2-year plan plus 1 additional month with a huge discount.

[@fd4795]

KIA make far better EVs.

[@davidbeppler3032]

Toyota Rav4 is not a good comparison to Tesla Model Y. 7 seconds difference in 0-60. Lol

[@davidbeppler3032]

@Kingsley Sun I want one that can do both and get 130 mpge.

[@davidbeppler3032]

@Kingsley Sun No vehicle costs that little. Unless you ignore fuel and maintenance.

[@davidbeppler3032]

@Kingsley Sun Can you drive a RAV4 and never charge it? Does the RAV4 have the highest safety ratings in the industry? Does the RAV4 last for 700,000+ miles? All these questions change the buying equation. Enjoy your RAV4. I will buy a TESLA.

[@donkeybenjamin7901]

The only problem with your comparison to the RAV4 is ..the RAV4 price. With the money you can save by buying a RAV4 instead of Tesla you can buy gas for an eternity. 28,000 vs 63,000 plus interest, plus the inconvenience of charging, ...I don't understand why anybody thinks this is a good deal. In other words, with the 35,000 $ (only the price of the car) you save with the RAV4 you can pay gas for more than 312,000 miles, the equivalent to 18+ years of ownership at 16,628 miles per year...and by the way, your RAV4 is probably is going to be running after 18 years If you only drive 16000 miles a year..Tesla will see..

[@rosscads]

Damn that’s expensive! Guess my next EV will be an electric bicycle. ☹️

[@Blueman2018]

Mine will be electric ⚡️ shoes 👟 lol 😂

[@lizaramirez-garcia5944]

Tesla is making a smaller car for 25k. It’s overseas small

[@cauthoncrazy]

I bought my Kia Soul EV for 11k last year. It's been perfect for my lifestyle! So there are definitely other options out there.

[@Uncommonsensetoo]

Wow, those costs sure add up. Bought a nicely used 2002 Passat in 2003 for 16K cash (about 25K new) and it still looks and runs great. It sure has saved me a lot over the years and my yearly registration fee is only $143 (in CA). I think I might stick with that car for a few more years. I'd never trade in a car either as you'd get way more for it selling it private party.

[@jcheck6]

@@Uncommonsensetoo Smart buying used gas vehicle. Never get rich buying expensive cars on credit. I have only had one new car in my life and because of things like that I was able to retire at 59. Debt free, two homes, couple of Mercedes and an airplane.

[@frankcastle1578]

800 and change for monthly payments is A LOT! Definitely wouldn't be able to afford that even if I wish I could, that's almost as much as my mortgage 🤯🤯

[@White-ms9uo]

Look at his battery costs. $11,000. I've been told by T owners that aver life of battery is,130,000mi. So trade it in? If u get used car u have to consider the miles in its battery

[@marklavine8088]

@@White-ms9uo the warranty is like 250k with a million miles rating on the newer batteries lol. In reality this maps with modern day new cars.

[@LarsDennert]

You ignored that a RAV costs $26K. Even if you buy the most expensive RAV, the plugin version at $38K the monthly payment will be vastly less. The savings on fuel means little if you are counting dollars.

[@philotimo5089]

Comparing to a RAV was the wrong comparison..... It is like comparing a VW to a Porsche.

[@Vatchg]

No he didn't. This isn't a RAV4 vs Model Y cost comparison video. He just used a RAV4 gas cost vs electricity cost of Model Y. He should compare it to my Jag...17 MPG. Then you'll really see some savings.

[@knudsenj100]

@@philotimo5089 Have driven a Tesla, VW and Porsche? The ride and fit/finish of Tesla is closer to Ford.

[@blipblop92]

Comparing this to a highlander makes more sense

[@lberhold]

Break even for Model 3 vs commuter ICE car is 4-7 years. Tesla designs their vehicle for Million miles (batteries ~400k), ICE cars rarely see much over 250,000. You will need to buy 2 RAV4 cars before you have to replace the batteries in the Tesla. That puts the 2 cars at cost parity assuming 0% inflation. If you factor in ICE maintenance, particularly toward end of life, the RAV4, assuming 0% inflation will be more than double the Tesla cost in a 15 year term.

[@frankosystems4161]

This video was super clean. Really well done, man. You're getting a lot better at this, and it's noticeable!

[@smallbusinessdreams]

Yup. Its why I'm looking at rivian still gets the ev credit. Also I'll more than likely not nearly drive as many miles! Ryan must had made alot of content this year.! Great video Ryan.

[@themeach011]

I didn't spend the money on a home charger. I went on Amazon and bought the appropriate 50 amp plug and weather proof box to mount on the outside of my garage for 50$ and wired it in myself. Saved way over 1000$. It charges a tiny bit lower 30 miles an hour instead of 37 but it never matters. I even turned the charge rate down a bit so it actually takes a little longer than it could but it's better for the battery to charge slower and it still only takes about 5-6 hours generally to charge over night

[@alexanderhdo]

can you elaborate on this?

[@jdog8701]

Could you link the plug you used?

[@themeach011]

The one I used was the Talon LGP1S 50-Amp enclosed outdoor rated receptacle. It's in Amazon for 72$ Canadian. It's the same plug pattern a range would use it's a 50 amp 14-50r plug. You can do it even cheaper if you are installing it inside your garage. Then you literally can just install a range plug that u would use for your oven on the wall of your garage. I had to put mine on the outside of my garage as we've converted the garage into a building for a business we run so we don't have any indoor parking. I wish I could put a picture up on here of what it looks like installed.

[@robertweekley5926]

@@jdog8701 NEMA 14-50! A "STOVE PLUG", basically!

[@rubenthijs746]

So I configured the exact same car here in Europe: 78000$.... So yeah. ICE is still cheapest here, by a lot. Especially with those exuberant Belgian electricity prices.

[@dmfamzo]

That's the starting price of a Model Y in Sweden. Safe to say it's the most expensive country in Europe.

[@Wankidy]

Use Tire Rack. Better prices than Costco. More variety too

[@turbostixxx]

Tire Buyer is worth a look, too. They have a military/veteran, first responder and teacher discount.

[@burtosis]

Tire rack is FAR better than Costco. Better prices and selection and easier to use online website as well.

[@White-ms9uo]

Discount Tire in SD Matched the on line store of Tire Rack for me

[@paulmayo2763]

Wow Ryan. This was very helpful and very detailed. I have never seen anyone do a breakdown to owning a Tesla like this. Great job man!

[@teatowel11]

Not many people calculate the full cost of ownership for their vehicle. It's insane, after working it out and saving a bunch of money driver a motorcycle again, I don't know when I'd be prepared to pay for a car again.

[@bellarose6310]

How do you get groceries?

[@burtosis]

@@bellarose6310 when I drove a motorcycle, I’d just use a backpack.

[@burtosis]

@mugenctr yea, that’s 10x+ cheaper. I got two Acuras around my 17th birthday. One fell asleep at the wheel and totaled the entire driver side on the median, brutal but cosmetic outside of the doors being inoperable $500. Got another who never changed the oil and cooked the engine $500. Swapped the front and rear quarter panel and doors then sold the bad motor one for $200. Got a great car only 6 years old with 30k miles for $800 and drove it for 5 years before it was too expensive to fix. I want an electric car like much of America does, but they are still unaffordable.

[@teslaefficiency7029]

0:00 What will be in the video 0:45 The configuration that I went with 1:05 My opinion on Tesla's calculation on money savings 1:25 My order's pricing 1:58 Base price of Model Y 2:16 The off-menu standard range Model Y 2:35 Taxes and fees for my purchase 3:22 Rebates and incentives 4:29 Charging costs 6:39 Cost comparison with equivalent gas car 9:21 Net savings 10:15 Maintenance cost 10:29 Insurance cost 11:14 How I paid the car? 12:21 My first year payment details and what yours will probably be like 13:30 What if I didn't seek better interest rates through refinancing 13:44 How are Tesla cars valued overtime 14:04 How much would my Model Y be priced if I trade it after 1 year? 14:15 FSD cost (I purchased it after delivery) 14:44 What payments are next for me? 16:31 Last words from me for this video

[@odontomatix]

I bought new a 2018 Hyunai Ioniq Hybrid for $26,500 including all taxes, registration, fees, and a 100,000 mile extended Hyundai bumper-to-bumper warranty on top of the standard 6-year bumper-to-bumper and 10-year 100,000 miles drive train warranties. Moreover, Hyundai guarantees the battery for life to the original buyer. I get an average of 55 to 60 mpg in combined city/highway driving. Range on fill-up is about 650 miles on the 11.5 gal tank of gasoline, which is twice the range of this model Y, and fill-up at a gas pump is much quicker than charging a Tesla on a trip. You can find gas stations in just about every city and small town as well as in the middle of almost nowhere, whereas charging stations are harder to find in remote areas. So I paid less than half as much as this Tesla cost, and my gas consumption cost is twice as good as the gasoline car used in this comparison so the per-mile cost is not as different as in this video's example. I love the car. You'll need to do your own math to decide what type of car is best for you and the way you use it. And when you compare an all-electric car, be sure to include a term for the eventual battery replacement.

[@Wasssup3232]

I live in ID and got rid of my 2020 Sentra for a model 3 long range 2021. My registration cost me $5 to transfer and $90 for registering an EV since you don’t pay the gas tax. I’m $110 a year for registration. And 6% sales tax instead of over 10 helps. Currently my charging over my first month has made my electric bill not change at all yet (level pay at $44 per month) and so far this month I’m estimated to use $40 in electricity even with relatively consistent charging at home. I also pay 10$ at a supercharger to get a full battery (80% not 100) so its really nice, no issues at all so far and the recent boom box update has made my car fun to sneak up to people at work and use the DJ horn to scare them.

[@yellowsnowman9157]

This is why the VW id line is so important and the Chevy EV line (to a lesser degree) are so important. Tesla is outragously priced and their real world range doesn't meet their claims. We need Volkswagen to bring the EV market to the masses. When the id begins being produced in Tennessee in the fall of 2021 it will drop pricing by 5k and put the car in-line with more home budgets.

[@danpavlik]

I was one of your referrals! Thanks for the SuperCharger miles!!!!

[@brsess]

Same here

[@tycraig5924]

Hi Ryan, good video. I enjoy watching you on KZbin. I have a model Y, which we took delivery of on Dec 24th and live just outside of Toronto Ontario. The spread in cost between gasoline and electricity in my case is mind boggling. Keep in mind, the model Y is substantially more expensive in Canada than in the US, even factoring in exchange. The LR model Y is 70k. Even with a GENEROUS exchange rate, the LR MY should be a maximum of about 67 to 68k. Now on to the good news, Our electricity rates are adjusted on a fairly frequent basis, but they don't change all that much. Right now off peak is 8.5 cents per kWh and then they deduct the "Ontario electricity rebate" of 21.2%, so off peak is actually about 6.7 cents per kWh. (About 5 cents USD) and gasoline is currently going for aprox 1.25 per litter which equals about 4.73 per US gallon., so my wifes 100 mike daily commute used to cost aprox 20 per day in her 2012 rav4 and now costs about 2 bucks on electricty. We also have free supercharging for a year, so we could save huge if we utilized that. There is a supercharger very close to us as well, but the convenience of just plugging in when you get home and paying 2 bucks seems like a no brainer. Plus supercharging often doesn't sit well in my gut( no evidence, just gut) for battery life. I figure we should be saving a minimum of 3k per year on fuel. Plus pulling into my garage and having a "gas station" right there can not be over stated on the convenience factor.

[@revilsdr]

Ouch a 72 month loan that’s a lot of interest kinda eats up a lot of that fuel savings. Doesn’t make financial sense for the avg Jane or Joe.

[@atomicmuffins1328]

Unless you can invest the money not paid upfront and make more than interest/inflation which is difficult and risky to do but can be done.

[@jcheck6]

Bingo David!

[@mistertimely]

If you borrow at ~2% you’re doing better than inflation, currently. With low rates you should take financing for as long as you can, and as time goes on you are paying with cheaper and cheaper dollars. You can do better putting your extra cash in the market and beating a 2% return. The average joe will stay poor because they don’t understand the time value of money.

[@naps3386]

I pay 4 cents per KwH to charge my 2019 Chevy Volt at night, or charge free at solar panels a 10 minute walk from my house. I paid $19,500 all-in out the door for the car in January. I financed the entire car at 2% for 5 years. The car was basically new with only 3600 miles. Leather heated seats, leather heated steering wheel. I like Teslas but I got 90% of the electric car experience for 1/3 the cost. As far as Tesla’s holding their value, I don’t find that to be true. Asking prices appear to be high but I watch them and they don’t sell, they just sit.

[@omidindeed]

Thank you Ryan for going through all these numbers with us. Super helpful and well done.

[@camchen4203]

Just took delivery yesterday , I love the acceleration and the emission mode XD

[@torenorzeck6204]

Good video but three things: 1. The comparison would have been better with a luxury/ performance crossover like a BMW X3 or Audi Q5. 2. Show the true costs of one of these cars. 3. The other phenomenon everyone misses is while the Tesla price starts at MSRP, Most ICE cars can be purchased at a discount from the dealer. A $57K BMW X3 can be had for $51K or less. I’d love to see the comparo redone for 3 yrs of ownership

[@iangreenstreet1407]

Some interesting points- I wouldn’t expect to spend much on maintenance on any new car in the first year. It is in the subsequent years particularly as the mileage gets 60k plus that I would see the real lower costs of ownership

[@danbuchner28]

Great job. Let me do a simple comparison with very rough numbers (use typical average 12,000 miles/year, $3/gallon gas, 5 years): Electric car (new Tesla): $60K upfront cost (net of rebates) + $6K finance cost = $66K, say $5K electricity (1K/yr) + $9K insurance (150/mo)+ $2.5K (500/yr) maintenance + $1K licensing, etc = $83.5K over 5 years for 12K mi/yr = $1.39/mile Gas car (new Toyota Corolla nicely equipped): $30K upfront cost + $3K finance cost = $33K, mileage say 25 mpg -> $8.4K gas (12K miles/yr x $3.5/gal / 25 mpg x 5 yrs) $8.4K gas + $6K (100/mo) insurance + $5K (1K/yr) maintenance + $1K licensing, etc = $53.4K over 5 years for 12K mi/yr = $0.89/mile So, over 5 years, an electric Tesla car costs you about $30K more over a traditional Toyota gas car. Over 5 years at 12,000 miles/year, that is about 50 cents per mile higher. Edit to add: If you choose the Toyota Corolla hybrid, that doubles the MPG to around 50. So, your gas cost is cut in half to only $4.2K/year vs Tesla electricity at $1K/year. I think the Tesla has to drop to around $35K to make the math work. Also, there is a residual value after 5 years. Realistically, after 5 years, the Tesla might be worth $25K, while the Toyota Corolla might be worth $15K - $20K, say $17K. So, you can't recoup the cost of operating your Tesla after 5 years by selling it.

[@machinist_man2386]

Great video! I love Tesla and what they're accomplishing... If I were to buy one of these at 58k cash I'd have to drive it 242k miles to stand up where my current 4 cylinder cars' true cost stands. Between oil changes, ALL maint cost, gas, and purchase price I have spent close to 42k on a 20k ten year old car (new when I purchased). True cost for my gas car is ~$0.24 per mile at 182000 miles. Teslas cars true cost at this price point I would need to drive 242k miles...and that is not factoring in charging cost beyond a year. However Tesla's will be far more cost effective the longer you own it..banking on durability and next to zero maintenance cost. Initially it's a lot of up front cost, cheaper later. I encourage everyone to do the math on their own gas car for comparison

[@bronsonschnitzel7493]

Assuming the Tesla is still driveable at 242k

[@hummingbirdman]

I think whether you should buy an ev depends on how much mileage you drive. Let's take my own case, for example. I don't drive a whole lot. I live in Southern California. In July 2019, bought a 2006 Toyota Sienna Minivan with 106,000 miles for $6,000. Before Coronavirus hit in March 2020, I drove about 3000 miles, but since the virus, only 1000 miles, since I no longer needed to drive to work, and worked mostly from home. No need to drive mom to church, so 1000 miles are mostly to the grocery store and back. I think I made a good decision buying this car, which just passed California smog a few days ago with no problems. First of all, the cost of ownership is really low. With the virus, gas cost were down to $3/gallon at one point. So for the 4000 miles I've driven it, if we use $3.50 for gas cost average and a conservative 20 mpg, I paid only $700 for gas for almost 2 years of driving. My DVM fees cost $161 and my insurance is only $300/yr. I paid cash, so no car payments. Resale value for my minivan I would guess is still high, maybe around $5000. So my first year out of pocket cost is a little over $7500, including sales tax, but then it is only $1,200 per year after that. And from the initial payment, if I were to sell, I could get at least $5000. So for two years, I'm out net of only $2500, or about $1200 per year, or $100 per month, which is super cheap. So compare that with the high cost of ownership of ev. Do I enjoy driving my Sienna as much as eV? Absolutely. It has a load capacity much bigger than a Model Y. It still looks new from the outside, drives quiet, but the best thing is that this car is mine without any car payments.

[@lseul8812]

With supercharging mine has actually costed me the same if not more than if I got a comparable ICE

[@Ghost-jy9hk]

Really? How much is super charging for you?

[@Baker.Matthew]

Seriously doubt

[@jakeliujakeliu]

It cool, but most of us don’t even drive last year. Saving $19,000 subtract driving a cool car.

[@tylerfisher553]

this to remind me just how out of reach this car is for me, dear god thats a pricey first year alone

[@werunguns]

Great video, but I would have mentioned the significantly lower base cost of the RAV4 when doing your comparison. It’s so much cheaper to purchase that over the lifetime of ownership it’s still going to be more economical. Tesla’s are still way cooler and feature packed. Great job and I subbed to your channel!

[@dankotz722]

Thank you, Ryan, for this very thorough and honest breakdown on ownership costs. I bought the 2021 Long Range Model Y and could not be happier. It is by far the best car I have ever owned - perhaps the best thing I have ever owned. Wishing you continued success with both your car and your channel.

[@RavvaOf_Light]

So would you recommend the model y over something like a Toyota Corolla I’m only really worried about it’s cost and it’s charging time so would you think it’s worth it?

[@rebeccasmith7041]

@@RavvaOf_Light I can’t imagine those cars in comparison. Tesla beats a Corolla in every way lol

[@RavvaOf_Light]

@@rebeccasmith7041 how so?

[@RavvaOf_Light]

@@rebeccasmith7041 you can get auto pilot on Corolla it’s called comma ai 2

[@ImportedFromSerbia]

60 thousand paid for Tesla comparing to 42 thousand Honda Pilot exl awd is not saving no matter what gas $/gal is!!! I like what Tesla do, and I would like to have one, but my math calculation is not justified to jump on Tesla Y model.

[@RutherfordConLLC]

Don't forget in your cost of ownership to include the increase in equity in the vehicle, if you're making payments. You paid $8k in principle over those 12 months, depreciation will eat some of that, but it still lowers your cost of ownership substantially.

[@havfunonline]

Assuming 72.5kWH usable battery - this would come out to an average of 266 miles range for a year, in case anyone was wondering

[@jamalbrady7097]

Great channel man - glad you are surviving while posting vids with some critical analysis of Tesla! (I have 2 teslas and huge Elon fan, but rabid reactions to any even mild critical reporting on Tesla disturbs even me). In NJ we have much better deal: no sales tax, 5k state tax refund, plus I get 4k EV refund from my job (large US bank). Saved me 15k!

[@jonnohz1]

Well spoken Sir, this is the first and only eye opening info I have watched. Thank you for the great clear, concise, easy to understand education!!

[@sherwinm]

Edison charges generation and delivery fee per kWh. It’s still slightly cheaper than superchargers and more convenient. It’s still cheaper than gas. I traded in a Prius and i get somewhere around 48-51MPG. I still save money on gas when compared to my previous car. I have mine scheduled at 2am. I recently added additional solar panels. I now have 35 panels. essentially, my charging is “free” at home. I was curious about the mobile services. They charge $40 for tire rotation and about $70 for cabin filter change. You can get tire rotation free from America’s tire. I also had to replace a tire due to puncture damage. Usually replace in pairs and was able to replace a pair of Bridgestone (19” size) for around $450. This model is i believe V rated where the stock i think is W rated. The rating is related to wear and tear as well as top speed it can “handle”. Just wanted to share what I’ve paid so far for maintenance on my Model 3 Dual Motor with the 19” wheels and 16K miles driven in 1 year.

[@vivianthom4801]

We were looking at the model Y last week. After going through the Tesla web forms, it comes out close to $60k. This video gives us a better view of first year ownership costs.

[@LTVoyager]

This video was certainly interesting, but what really would have been helpful is to show a comparison to the RAV4 or other equivalent vehicle. I can’t make the numbers work at all for me personally. I tend to keep vehicles 15 years or 200,000 miles and I really don’t think an EV battery will last that long without significant loss of range. And with the purchase price being 60 - 80% more than a similar ICE SUV and the insane tire life and costs, and given I do my own maintenance at costs far less than dealer service rates, the numbers just don’t work at all. I may still buy a Tesla for the fun factor, but I won’t delude myself thinking it makes sense financially.

[@michaeldolan7509]

My next car (3 years to go) will definitely be Electric. In Montreal electricity is $0.06 USD/KWh and federal and provincial rebates can go as high as $10,350 USD depending on the car. Thanks for your video, very detailed and useful.

[@godozo]

Add to that the fact that the RAV4's 31 mpg would likely be on the highway (when you're doing the Supercharger) and probably closer to 21 mpg in the city (when you're fueling through your home and more fuel efficient with driving), your fuel savings were probably much greater.

[@richbarrier]

I cannot believe how expensive cars are these days. This is insane.

[@aarshpatel2000]

Lol California has expensive gas and electricity, this calculation is very different in different areas of the country.

[@californiaplant-basedeater2761]

EV still cheaper in long run. This is a luxury suv-ish EV as well.

[@aarshpatel2000]

@@californiaplant-basedeater2761 Most people that buy luxury vehicles don’t keep the vehicles more than 5 years. Most gas cars have more expenses the older they are. There are many factors that can influence whether it’s cheaper.

[@californiaplant-basedeater2761]

@@aarshpatel2000 Are you talking to me?

[@aarshpatel2000]

@@californiaplant-basedeater2761 I believe so, you’re the only reply to my original comment.

[@K_-om6cu]

As per my calculations your home charging cost would have been only $160 if you lived in india Here electricity price is same all time and petrol is very expensive

[@nr9926]

@mugenctr In india farmers has free elctricity, so they can charge for free in overnight. For others on average 9 cents per kwh.

[@nr9926]

But india solar effective and very cheap. 4000$ enough to install for a big home. So car buyers use that in future. India will be producing more electric cars than any country as ev much econimic than ice in india.

[@mervynleach1362]

I think the biggest difference for us in the UK is insurance costs. I drive an electric Nissan Leaf, about 13000 miles per year. Fully comprehensive insurance on the car for me and my wife costs approx $350 per year! Even if I was as young as you are, I can't envisage a five fold increase.

[@kentharris7427]

I'm a Realtor and I am required to have $500,000 in Vehicle coverage. Houston Texas is #2 in the country for insurance rates. I was quoted $1,800 per year for full coverage vehicle insurance for the model 3. If we get a Telsa we will do 99% of charging at home, since we have an ICE Jeep for long trips.

[@eggy6857]

I live in the Netherlands where a kWh is 20 cents and a gallon of fuel is 7 euros. Driving electric is pretty popular here.

[@MrAndreybond]

I live in east WA and our Energy price is 0.075/ kw and my monthly insurance is $90. Very happy

[@Gnarcap]

Which insurance company? I was quoted at $179 for full comp coverage and gap

[@MrAndreybond]

@@Gnarcap State Farm. I have my auto, house and business coverage with them, can’t be more happier.

[@Gnarcap]

@@MrAndreybond thanks :)

[@billligon4005]

My Nema 14-15 charging station in my Condo garage was $4500 which I offset with the SDG&E rebate of $4500 for my Model 3, Oct 2019 Tesla. The decision to purchase was the 2 year free Super Charging, which I used about 1 year while my HOA decided to let me install the charger. Condo Charging stations billed directly to my electric system seems to be much more expensive.

[@oooooooooOoOoOo571]

going from luxury gasoline cars msrp 45k to 65k or v6, v8 to tesla will save money for sure. many comments here saying tesla does not save money are owners of cheap cars msrp 25k to 40k.

[@viffer94]

Nicely done. I actually believe your numbers unlike some of these fanboy channels. But like you said if you’re really interested in saving money then this analysis is pointless, you’re always going to be better off driving a cheap used car. You’re not going to have a $1000 monthly payment and you’re going to save even more on insurance, registration fees, sales tax and interest and financing costs. The fuel savings and maintenance costs will be negligible driving something like your old Honda Fit or any other reliable fuel efficient used car so you’ll always come out on top driving used. Saving $50 a month on fuel doesn’t make sense if you’re paying over $1000 a month for everything else. But it’s a nice car and if you’re in a position to buy a $66k car then you’re probably not going to worry too much about how much it costs to drive it anyways.

[@jpridie]

Thanks Ryan that was very interesting. I’ve owned three Ford Fusion Hybrids and I am really pleased with them. That is here in Alberta the engine gives more heat in winter and our fuel prices have been really low. Now we have a carbon tax, so the price of fuel is going up. I’ve always been fascinated by the Teslas. That I hope will be my next car.

[@peterwright837]

Loved the comment about replacing the 12V battery. My brother-in-law had his die without warning on his Model 3 within 2 years. Tesla came out to the house to replace it, but when he inquired about why it died so soon they just shrugged and said it was a common problem. Luckily it was at home in his garage.

[@Nphen]

The 12v batteries apparently die for multiple reasons. They're lead-acid so they're not going to be good for many cycle lives. They can discharge too low if the car is left sitting for too long. The DC-DC converter that charges them from the main battery can also have problems. These are several reasons that Elon wants to switch the in-car electronics & computers up to 48v and use Li-ion. The 12v systems are legacy automotive systems. Tesla uses them because most of the components they were ordering for the original models were all made to be 12v.

[@peterwright837]

@@Nphen the 12V batteries in my ICE cars typically lasted 5 years or more, and they had to crank the engine over. Not sure why EV’s are having problems with them.

[@robertweekley5926]

@@peterwright837 - Continuous low loads? Insufficient DC-DC Amp Ratings? SLI style, Instead of a Deep Cycle type?

[@Nphen]

@@peterwright837 It's not about "large current load = more stress = less life" it's about *how* the charging and discharging happens. The lower power drain from electronic use only can actually cause more problems with these batteries than the normal use case of cranking a car motor. Instead of a few large loads per day, these batteries are constantly being drained by the onboard computer - even when the car is not running. If your friend doesn't drive every day, then the 12v battery may be discharging too low while his car is parked. These batteries are being put into the wrong use case.

[@peterwright837]

@@Nphen Interesting. ICE cars also have onboard computers these days, but it sounds like the issues may stem more from the always on connectivity which is far more common on EV’s than ICE cars.

[@LunnarisLP]

I would have loved a comparison to a somewhat similar gas car for all the costs, that would have been nice, but very informative. One of the great things with Tesla is, that they keep their value really well especially just after buying, so often enough owning it is really cost efficient if you take that into consideration. Obviously it's hard to tell if this will stay this way for the future. The Model S had it's loss of value if you look at older models, but I think some of the main reason is that a new Model S is quiet a bit different and most importantly has a bigger battery which is really pushing the range by quiet a bit especially when the older Models have some degradation and obviously we now have great vehicles like the Model Y and 3 which many buyers can consider instead, so less demand for used cars here. OTA updates def. help though.

[@richardmitchell3945]

This is an excellent video. I am only halfway through it and so many of my real concerns have been answered. Great information in regards to the rebates and tax credits.

[@J_Calvin_Hobbes]

While I don't like passenger cars (ice or ev), I still liked the video for real life actual cost breakdown and total cost. You live in a very expensive city / state, and being young your insurance rate is very high. I'm 56 living in great lakes area with regulated electric rates, so my insurance & electric cost would be substantially lower. My highest electric bill in 2020 was July, with central air at 72 degrees 24/7: 533.98kwh @ .104085 = $55.58. Total bill was $92.22 with all the add on fees.

[@cujet]

As always, Tesla owners use the KWH per mile number provided from the car. Completely discounting how much the electric meter spun to charge the car per mile. Thereby glossing over a chain of losses. They also use the published KWH rate, completely ignoring the taxes, fees, connection charges, environmental charges and so on. Hint, install a separate meter for just the car, and pay the bill. Your cost per mile will be about double the claims. Another key factor in many locations, the cost per KWH goes up over a certain threshold. Here in FL, the cost of power nearly doubles when a household exceeds 750KWH per month. Try again, with real world data.

[@macrumpton]

Do you ever think about if you had taken that $62K and bought Tesla stock instead of the car a year ago?

[@BnORailFan]

Hindsight is 20/20

[@mlaw1123]

He only had 10k in cash, but if that 10k was in at the pandemic lows then he it would be worth around 320k today after the 700% increase

[@burtosis]

Screw that, imagine if he bought GME a year ago. He’d be sitting on 10m.

[@pray4snow42o]

@@mlaw1123 if he invested 10k a year ago in tesla, it would be worth 320k today? Ummm.... how'd you come up with that number? Tesla is down in value from a year ago! Lol

[@Fakingittilimakeit]

He makes money off YT this is a business investment for him

[@Star1products]

Dude that’s was clear!!! Good info there too Thanks for the hints I’m waiting for my model Y It was supposed to be delivered to me 8 weeks ago and I’m still waiting for it Let me know if u want to review my delivery I’m in LA too I’ll keep u posted 👍

[@Ahkila_Reacts]

In other words....... .....Teslas are still expensive af! SMH.

[@robevans5222]

I suggest this: Divide the additional incremental cost of your Tesla (compared to the RAV4) by the annual fuel cost savings...how many decades will you have to drive that Tesla in order to offset the original purchase price premium? Ha ha, the battery won't last nearly that long. Neither will the car.

[@cerad7304]

So $1000 yearly savings over an ICE? For a car where the paint job cost $2000? Hmmm.

[@johnpoldo8817]

Your electricity prices in CA are very high. Here in South Florida, my charger is metered at a condominium where cost is only 9 cents/kWh. Standard residential rate is only a penny more.

[@mcbonnes]

Here in Germany we pay around 33-36c/kWh

[@LTVoyager]

@@mcbonnes Gotta love that green energy. It is called green because in the US our money is green and green energy costs a lot of green dollars!

[@esquiredan2702]

@@LTVoyager My electricity in Houston, TX was from 100% green sources and cost 11c /kWh. Location matters more than energy source when determining cost. Besides, there are always hidden costs to cheaper products or energy sources. It's cheaper to dump waste into rivers rather than disposing responsibly, but it harms the environment. Fossil fuels might be cheaper than green energy in some places, but it's harmful to the environment. Same principle.

[@reinplat]

@@mcbonnes Last year the average kWh price paid by German households was 32 euro cents which is the equivalent of 38 (!!!) dollar cents.

[@jizzyjake6783]

I have a funny feeling everyone's electricity is going to be ridiculous in the near future

[@CharlesChiu]

I think it would be good to compare the effective cost instead of the upfront cash cost. Basically estimate the cost of ownership for 5, 7, and 10 years then subtract the equity value of the car after those years. This will show the increasing cost-effectiveness of owning an EV due to 1) longer time to recuperate gas savings 2) lower maintenance cost and 3)high equity value of Tesla. Consequently, I think it is fair nowadays to compare the cost of an equivalent-class hybrid instead of pure ICE. It would be good to take that overall cost of ownership and divide by the ownership years to get the average annual effective cost. This would be an easier number to use to compare with other options like buying used-car but shorter life-span or even EVs of other brands. Also, let's face it, for as long as we're going to drive a car, car cost is a forever annual expense. We should be trying to figure out the most cost effective way for the long term instead of the focusing on the cash spend for 1 year.

[@nebula1863]

I drive a RAV4 and 31MPG is only on a good highway. In actual city stop and start driving I get a measly 15-16. Sometimes I’ve driven only 150miles on a full tank of gas. The actual cost to drive 16k miles in the RAV4 will be way higher.

[@mohammedlabeeb]

Thanks for the clear calculations. I was debating on the actual cost of driving an electric car, and this was helpful.

[@delschier1419]

You left out one BIG factor. You can ONLY get a Tesla serviced by Tesla and they are VERY EXPENSIVE. A headlight bulb was $1550 but I got a used one on eBay and did it myself. A small dent was $4400 and took 3 months. A bird ate the weather stripping on my Model S sunroof and that was $2200. Those costs were paid by insurance but I did have one thing I had to pay them for. The eMMC memory chip wore out, a $7 part, and that cost $175 to diagnose and $375 to have them replace it. Tesla is supposed to reimburse me for the eMMC problem but it has been over a month and no word. I can say I love the car and their service is very professional and courteous. I wish I had bought Tesla stock instead of the car. I would now own two Tesla P100Ds and have money in the bank.

[@durancoley]

What a CLEAN & EFFICIENT VIDEO!!! wow, so refreshing to see this quality of video on KZbin. Thank you and keep it up!!!!!

[@jonathansage2147]

Cost savings is just not a compelling argument for owning a Tesla. There are drastically cheaper options available. There are plenty of compelling reasons to own a Tesla, this just is not one of them.

[@k1fizz]

I agree. You don't buy a Tesla to save money. You buy one to save the world from tailpipe emissions if you're driving a gas guzzler.

[@jonathansage2147]

@@k1fizz exactly

[@oooooooooOoOoOo571]

4 months ago the gas price in LA was 3.47 and now its over 4 dollars. Keep in mind, gas price will never go down below 3.50 anymore.

[@scrillathekid5562]

Great video. Keep it to 2 commercials and I’ll stay a subscriber. I almost always watch til the end unless you overwhelm me with commercials. With the full disclosure I understand why all the commercials. I’ll subscribe again.

[@sayonethihalolipavan]

While technically electric charging is cleaner than gas, wouldn't say that it's clean unless also using renewable energy sources like solar.

[@ripLunarBirdCLH]

Yes, but it is a step forward since you are dividing production of energy from using it. There's no realistic way to make gasoline cars 100% green. To make electric vehicle 100% green we only need to replace coal and oil power plants with green energy, which certainly IS doable.

[@TheOldGuy2000]

This was a nice video. But, honestly it really shows more the extra cost associated with buying this premium car (I am a heavily invested tesla fan too). You emphasized fuel cost savings. If that is your main "bar" for comparison, then I suggest you compare it to a new hybrid car like the Honda Prius.

[@MBergyman]

This was a good honest review. I did my own math for a Cybertruck purchase, and found that the total cost of ownership on a Cybertruck over 10 years will not exceed what my actual costs were for a 10 year cost of ownership of my VW GTI. It's just the up front buying costs of an EV, rather than the distributed cost of owning, fueling, and maintaining a gas vehicle. Some people just can't afford an 800/mo car payment for the first 6 years.

[@carsonassociates3263]

The greatest component of ownership cost is depreciation (as Ryan’s $500 trade-in value illustrates). If Tesla vehicles maintain their awesome resale values, that alone will justify Ryan’s purchase decision. The difference in operating cost of gasoline vs. electricity is trivial. (btw, down payments and trade-in are not part of operating cost: depreciation+loan interest+fuel+repairs+insurance+registration fees, typically).

[@theforce5191]

Depreciation isn't a factor unless you plan on selling your vehicle into the future. In which case it's still a loss and will most likely not be even.

[@amedv]

About Teslas holding value well. It's not that great, actually (as with any premium car). Especially, if you paid for FSD. That $10K option is valuated (in my case) at less than $1K.

[@jpthecut]

I am sorry but I had NordVPN and that is the only time in my life someone hacked my computer. So having NordVPN for my got me my computer hacked. When i tried to explain it to the company they said it was almost impossible. However it really happened. Please choose your VPN provider wisely. I used the one that comes with McAfee and i'm satisfied. BTW, I support your chanel. Keep up the good work.

[@chrisvlamis7019]

Ryan when you calculate cost of gasoline your cost per gallon has tax built into it. I'm not from CA so I don't know how your electric bill costs but here in IL my electric bill has a bunch of taxes per KWH (charge multiplied per kwh.) These taxes actually double my cost per KWH which is only fair to consider for such a comparison and one thing I consistently find missing in the Gas vs electric comparison. I typically find that tesla supercharging costs are about the same as at home charging costs when you add the taxes you pay per kwh on the bill. That's based off Illinois of course.

[@TrussttN01]

I’d want to look at the life cycle cost of the vehicle, probably over the life of the loan. Sounds like the big advantages are the lower depreciation and some fuel savings. Initial cost, insurance, tires offset those advantages though.

[@ShadowCaster3214]

In all honesty I feel like electric cars at the moment are not beating gas cars by much. The biggest advantage is the no maintenance. But the monthly payments, insurance, dmv fees, and charging prices really put the car out of reach for a lot of people, at least the Tesla’s. 62,000 for a car is very pricey and it could be even more depending on what extra additions are added when you order it. A brand new gas car is also not as expensive maintenance wise as most manufacturers automatically come with a 3-5 year warranty. I have not done the calculations but based upon his, I would estimate that a very efficient car like a Honda would not cost you 62,000 thousand ever, and it could be even cheaper if you lease it also and don’t own the car passed the warranty. All those fees he mentioned are due yearly also which would put you way passed the 62,000 in the long run. Gas is still cheaper in my opinion. At least right now, there is not enough competition yet to drive the prices down. That being said, I wish I could afford a premium EV. This was a great and informative video. I’ve driven some different model Tesla’s and while I didn’t love the stiffer suspensions, they were overall pretty great.

[@stephenmorris2000]

Great video Ryan with complete analysis. You did leave out the expenses associated with paint correction, ceramic coating, and PPF. I think you had a video that showed that you did that work on the car, as did I.

[@alexsu6872]

That would be similar cost if you decide to do it on an ICE car though

[@grahambrown42]

Can't believe the cost of insurance in US. In UK I pay £340 per YEAR on M3 LR!

[@krapposelli]

I'm very thankful that Maryland doesn't charge renewal fees based on the car's value - it's a flat fee based on car type - I'm thinking it'll be about $135/yr to register it. I moved to MD from CA many years ago (when it was like $75 for 2 years when I had just paid around $375/yr in CA) - I was never so happy to renew my registration and the MVA (Maryland's version of the DMV) lady was excited she finally had a happy customer 😂

[@ngadhon6328]

The one thing that tesla car owners never do is show how long they spent waiting for the car to charge, at home or at super charger. Like that is a key problem, and Tesla youtubers never show this. SUS. Time is money

[@scottkarlins]

Ok, your car sits in your driveway or garage all night. You charge at home overnight. So that is zero difference. On a trip, unless you are in a serious hurry, I usually will spend 10-20 minutes at a gas stop for fuel, food, a break. Average Supercharger stop is 6-20 minutes. Not seeing a big difference here...

[@musiclistener211]

I have a model 3 performance (comp & collision) and an old gas car (basic), with 2 drivers. My insurance in Missouri is about $1100 per year with Progressive.

[@danielescobedo7968]

TIME IS 💰 MONEY, SO then if I have to WAIT WHILE charging, As I have seen many do. Then that needs To be added. Also batteries aren't FREE to replace. .

[@SteveSmith-cl2mu]

Most People buy cars out of impulse and enjoyment . Most people don’t break out a binder and start calculating tax breaks and such… I have been a car Salesman for 6 years.

[@peterbland7227]

It would be interesting to see a cost comparison with, say, a BMW X5, or other comparable car up to year seven. Sometime around the 5th year of ownership, BMW’s and similar cars, get very expensive to own.

[@vadacoo]

Very true! I’m in a Porsche Macan and the regular service visits after a few years is insane. $$$

[@nightarrow7473]

@@vadacoo how much does it cost you to service the Macan? here where I live a normal service can go up to 350 USD just for an oil change and normal inspection... a major service goes up to 2k ouch

[@BnORailFan]

I had heard that if you buy FSD separately from the purchase of the car and the car is totaled you get NOTHING from insurance for the cost of FSD.

[@denysvasylevskyy]

It turns out, you can’t order SR anymore, was talking to them yesterday about my delivery for SR and asked if you could order now- answer is no

[@somethingsomething404]

I feel like I would like you as a human, like I would enjoy sitting down for a beer with you. not important for the video but I just enjoy how you’re smart and kind, your voice is very genuine sounding.

[@nycameleon]

OG free unlimited supercharging + VTOU NY National Grid allows for nighttime charging for 0.03c per KWH means an equivalent of getting gas at 20c per gallon.

[@gnawty4662]

I don’t know what my kwph are but our gas (87 Regular) has been at $3.50 -$4.00 AND rising. Premium by me = $$4.90/gallon.

[@MGXsport]

Great breakdown! Look like I'll be sticking to my 2019 Prius!

[@gugy68]

Smart. I want a Tesla model Y badly but it needs to drop $10k in price or if the fed tax incentives return.

[@duerf5826]

why would you want to replace a 2-y/o car in the first place lol

[@MGXsport]

@@duerf5826 Why would I not?

[@trafjams1]

The power if them prius's tho.. I would keep it also. ;)

[@neverknow69]

Look into a Chevy Bolt. Cost 1/3 and insurance isn't stupid crazy. It also has about the same range from it's LG battery.

[@cotasa]

Meanwhile the guy who bought the honda fit. -$500 car -$700 total repairs -$1400 gas $60 registration $200 insurance Total: $2860 Next year will be just gas, 0 depreciation and a $30 oil change

[@claudeannbrochu2769]

There is nothing cheap on any this electric will double if you live there is no saving money will pay and pay ,you lie.

[@claudeannbrochu2769]

Nothing clean on these things do your research

[@madmotorcyclist]

Glad I bought my Leaf ten years ago when it first came out. With the subsidies (and the free home charger) I ended up paying around $25k. Sure I don't have the range nor use it for anything but short trips (take a Harley for long ones) but I'm looking to replace my Leaf in a few years with an Aptera (1000 mile range) if it becomes a reality.

[@browsingfalcon9159]

did i hear it correctly that you traded in your honda fit for $500 ? If yes, wouldn't it be better to sell it otherwise which i believe would be at a much better price point ?

[@kylenorris9585]

Between my Vehicle Payments Insurance and Gas my estimated yearly amount is $16980 for 2 cars a Ford Transit 350 XLT and a VW Jetta TDI

[@K_-om6cu]

If you had charged all your 16628 miles in india at home it would cost you just $320. As per the rates here This will vary slightly daily due to the change in currency rates

[@bmxrider925]

Fantastic video!!! I want a Tesla so bad but I can’t afford one yet. For the mean time I drive a cheap Honda Civic which I love. I know I’ll love the Tesla when I buy it. I would rather buy one 100% with cash so maybe in 3 years that day will come. Thanks for helping me look forward to working hard for a product I know I will love!

[@basic2355]

Hopefully you will be able to buy soon bro :) I am planning to buy in next couple months. One advice, don’t buy it fully cash, invest the 50k and you will easily make over the total interest rate over 7 years :)

[@bmxrider925]

@@basic2355 thanks for the advice, I understand that but I would rather never be stuck with the headache of a car loan haha. I can afford to buy one now and be making payments, but I would rather wait until the cost of the car is a fraction of what I am making now. I am already investing heavily and the way I see it, that money will grow x amount in the next few years and then I can make a purchase in a few years.

[@Kwicdrawmcgraw]

Buy with cash? Smart man. I should have enough for a Model Y when they put the new cells and go unibody.

[@cookiezr4milk429]

Every time i hear 5+ dollars for gas i panic and think i have it good at between 2.80 and 3$

[@regisdumoulin]

Every time I hear $5 per gallon I'm thinking that's not too bad! Here in France we're paying around €1.50 per litre for unleaded gas which works out to be around $6.75 per (US) gallon!

[@kevinbosma4047]

@@regisdumoulin in the netherlands €1,62 per litre...

[@cookiezr4milk429]

@@regisdumoulin omg i love driving so that sounds scary to me

[@cookiezr4milk429]

@@kevinbosma4047 im speechless

[@kevinbosma4047]

@@cookiezr4milk429 so your next car will be an electric car;)