Owning a Used Tesla – 2 Year Cost Breakdown

Owning a Used Tesla – 2 Year Cost Breakdown


80 Comments

  1. Muhhamad Ogli-berdiev says:

    $1k each month to only drive a used 5 year old Tesla and even that with only 9k miles a year lol. This is why smart people don't buy Tesla. Pretty much ANY Toyota, Honda or Nissan will be cheaper to buy and cheaper to maintain even with gas prices included lol. Tesla only is cheaper when compared to expensive German luxury cars like Mersedes, BMW, Audi, but then again driving a BMW is much more fun then a Tesla lol. Basically Tesla is a jack of all trade, master of none – nor as cheap as Japanese cars and neither as fun as German luxury cars. I think if with time prices for Tesla will come down to where Toyota sits right now – then it might be an option to some.

  2. Typhoon SD says:

    You had the depreciation of $18,100 included in your total but kept your payment of $28,249 out.
    Also you bought Solar for your house. Could also count some of it towards your total amount.

  3. Ralph Quinones says:

    Thanks for the video. A couple of questions. Are used Tesla prices solid, or will the negotiate with you? How much was your insurance cost increase for the model S?

  4. breyton490 says:

    As much as I would love to have a Tesla of any kind, the economics only work when comparing the cost to a high-end ICE car like a BMW or Merc. If you compare to a daily driver like a Civic or Altima or similar, the cost difference becomes much smaller since the cost of these cars is much lower and their fuel mileage is pretty good.

    I will own an electric car someday, but right now it's a luxury item, not a financially practical one for most people.

  5. Reony Tonneyck says:

    $1100 on fuel costs?? That's a lot I think… I luckily have free charging at work and I probably spend like $15/month at the most when I do pay for charging. It's also only 8¢ / kWh where I live, which is pretty cheap. I also am not an aggressive driver, so my tires last a while.

  6. Steve Schwartz says:

    You did not include the cost and installation of you home charger unit in the total 24 month cost. Was it included in the original cars cost?

  7. SD Drone says:

    Nice to know your numbers, I’m driving a Volt and want to migrate to a Tesla. I don’t drive too much as used to be (Chula vista to Temecula).

  8. Brian 1NMBSC says:

    I ran some numbers and found the big savings in total cost of ownership is when you keep one of these cars for a long time say 10 years or more.

  9. Willie Cruz says:

    you dont add the cost for a solar system? if it saves you 1000 bucks a year in charging but the solar system cost 10, 20, 30 thousand it's not really saving 1000.

  10. justakidwithbigdreams wang says:

    I love how there are free tesla charging stations

  11. Christopher Paul says:

    I would buy a Gm for lot less ,and keep almost $20000 in my pocket to pay for the gas for 10 years or 200000 km.😂

  12. jamesrob26 says:

    100 a month for car insurance sheesh

  13. Peter C says:

    Please tell what is done at the 2 year service. I am looking to purchase a used model s 2015 70d

  14. BruceR says:

    Playing devil's advocate here, when you calculated the monthly cost of electricity for the Model S after solar installation, you said the monthly cost was reduced significantly. Whether you purchased or lease your solar installation, did you factor in the actual prorated cost of solar into your monthly operating cost or calculated just the cost of electricity? That could make a significant difference depending on the cost of your solar installation and how you're paying for it. A friend bragged to me how little he spends each month of his Model X after installing solar on his home but never factored in the monthly cost of his solar panel lease into the monthly vehicle cost. He's paying $285.00 a month to lease his solar panels for the next 20 years. And he's encumbered his home and although he says he's never moving, for many perspective buyers that's a real "no thank you"! He does reduce his daily cost however. When he arrives at work, he parks at the nearby municipal airport and steals electricity from the city which operates the airport as the business complex in which he works has no electric vehicle charging.

  15. Sinisa Culic says:

    I really like tesla and ev. And am a enthusiast developer. B U T! Also i owe a 2013 bmw 3Gt 116d and sory. But your numbers are total bul. My service cost is usually like 600 – 800 a year… and gas price is also a load of to optimistic/justfication of my part is bettter.. turn it as you like its a iphone premium grade cost vs a normal android. And you are paying early bird price for it. Sorry

  16. ttico100 says:

    Your insurance is very cheap! Which company are u using?

  17. Brandon Carr says:

    How much were you paying for registration each year? I hear that’s a pretty large cost as well.

  18. Lawrence Carter says:

    Looking into buying a used Tesla model S. Its the 2013 version for $30K and with 50K miles on it. Idk should I just wait?

  19. Busoshoku koka says:

    Its an insane money pit

  20. Rubin lopez says:

    To replace a tesla battery cost 10k usd. Any car battery is made up of smaller batteries/cells. I wonder how it works if your tesla batttry gets messed up out of warranty. Would tesla replace the individual cell that's messed up or will they just flat out charge you 10k to replace the whole entire battery. A single cell or a group of cells would pretty cheap to replace any where from a few bucks to 100usd for 1kWh worth of cells. I wish there was information oit in this service.

  21. Gustav says:

    can you tell me why you pay over 100 bucks insurance per month, if that other rich guy got a new tesla for 78$ per month? it's like (when you buy it for buisness purposes what your channel basically is), why not get a new cheaper one, THAN ADDITIONALLY PAYING MORE INSURANCE, than the car costs. idk though

  22. sonyfxi says:

    thus far it's $1000 repairs per year for the first 2 years. The expenses will start rising by year 4. If you can afford a luxury car go-ahead and buy it but don't be fooled by this sugar coated financial breakdown

  23. S L I says:

    Someone sticks their hand through that sheet behind you and waves, did you guys see that?!?! Weird

  24. fishtherapy100 says:

    A battery-run car has changed your life and that of your family? What sort of life is that? Tesla owners are fast approaching cult status.

  25. Lew Scagnetti says:

    These cars are for the Rich People out there ! A new Model S up in Canada is well over $110K + all the way to $160K +..We also have to pay out %13 Sales Tax up here and that's another $14K — $19K that you will never see again !! Add that to depreciation etc, etc and you have the price of a real nice car !!! Myself nor None of my friends are going car shopping with $100K in their pocket ! These vehicles are just not an economically viable option for the working man ! Too Bad !!

  26. BOXING LIVE says:

    1300 for TIRES…!!! I own a X5 oil.. 79 bucks a year… break flush once… 150… and no other maintenance in 4 years… ?? Since I had it… If I had to replace the tires . They are only 200 ea.. 900 for 4… With tax
    ..

  27. Emre Yildirim says:

    Buy a $5,000 car 4cyl and you’ll save all that money you just talked about , imagine having all that cash at the end of the year. Don’t get caught up in status and materialistic things people

  28. viraj patel says:

    I own a 2018 Lexus ES 300h and it’s probably the best car that holds the price and gas and insurance…

  29. Chief Trouble Maker says:

    I have a 2019 BMW M5, I spend, just on gas ~ $400 a month. If I get a Tesla, I would be saving about $25k just in gas over 5 years. let alone maintenance and services…

  30. WhoCares says:

    In 2011 I bought Acura RL that was 5yrs old with 67k miles. I had 6000 trade in and my final otd balance I financed was 18500. I paid it off in 5yrs, and during those 5yrs I only performed oil changes (once per year, synthetic, $50 cost). Insurance went from $80 to $50ish a month for 100/300/100 coverage at all times… Timing belt was replaced at 100K for $1200 and few air filters over 5 years. Total cost after 5 years was 20k for the car paid off with maintenance and one set of tires during those 5 years all in was about $23000. Once it was paid off, I decided to do major maintenance fixes and upholstery replacement of leather on front seats. Changed complete suspension (shocks, struts, front inner n otter tie rods, steering rack, control arms upper lower font left and right and sway bar links) also changed engine mounts, all three oem and also replaced the leather on two front seats for around $3600 (i ordered all parts from rockauto so lots of after market parts).
    I spend around $150/mo on gas, but also work remotely from home, so I do not drive that much to work either… all-in invested $26600 + $14400 for gas over last 8 years… total of $41000 plus roughly insurance for 8 years in the amount of $6240 (65 avg per month) … all in all in, $47340 for the cost of ownership over the period of 8 years. I still have my car and if I was to sell it, it can go easily for 4500-5000… so I am in low 40s as far as cost of ownership goes…

  31. Floris Klaver says:

    Why are people still comparing Tesla to BMW, Mercedes and Audi? The quality of the product just isn't there yet. So as you say in the video to compare with a 5 series wouldn't be right in my opinion, Tesla may look cool but in terms of build quality they are not even close yet to those Germans.

  32. Jamal Tyrone says:

    Depreciation is only a thing a thing if you don't keep the car from it's useful life to it's destruction, which is what I tend to do.

  33. Hamid Abasi says:

    Wow who is ur insurance provider

  34. Tom DeCoste says:

    I bought a used Chevy Volt for $13k just over a year ago. Only burned 14.5 gallon of gas in the year I've owned it and after watching our electricity bills for the past year we have see no change to our yearly bill. Some months are a little higher, others are a little lower. It all averages out in the end. Also, the car has been 100% maintenance free. Considering my Honda Accord that I replaced cost me nearly $2k in maintenance per year and $65/month in gasoline, the Volt is probably the best car I have ever owned from a financial stand point. It's not the fastest of cars, its not the flashiest of cars, but it's up on the top of my list of best cars I have ever owned.

    You don't have to own a Tesla to drive electric. My Volt runs purely electric for 98% of the year. If I have to take an extended trip, it burns a little gas. But that's pretty rare.

  35. The Rusty Hubcap US says:

    Never gonna buy a piece of software. I will continue to drive V8s and gas cars. I don’t feel like paying upward of $5k when the shit batteries fail

  36. Maurice Harting says:

    How much does a new replacement battery cost for a Tesla? There goes your savings!!!!

  37. Anonymous Alex says:

    Tell me with your honest opinion because I test drove Tesla last week with SUV and model 3, based on the numbers you presented…. I don’t do oil change because Mercedes Benz is using synthetic oil, I don’t rotate or change my tires as you do in my 13 years that I have my ML 350, I just did it twice, my car is well maintained and the only expensive I spent was almost 2 years ago, I spent about $5k but hey my car is 13 years old and 97800 miles right now. Any words?

  38. Rob John says:

    Dave Ramsey will be proud.

  39. John Karnes says:

    While a Tesla is my dream car, I had to settle for a 2020 Toyota Corolla hybrid. My cost was $22,286. out the door. Its hitting right on the estimated MPG 53. Maybe some day I will be able to get a Tesla. But for now I love my Toyota Hybrid!

  40. Marimar Silva says:

    I have a mercedes nothing special just a c300 and this overview seems pretty well!!!

  41. Arne McPuckerButt says:

    Insurrance for a 2014 Model 85 is $5000/year in Norway, so add 9k over two years if you live in Norway.

  42. Jannin says:

    We have a Lexus GS350 and I’m trying to convince my dad to buy a model s. He drives about 45,000km a year (about 28,000 miles) and spends almost $5,000 CAD a year on fuel ($3700 USD), we also calculated it together and he can cut the price by about 30% by reducing his deductible tax income because it’s a business expense, yet he still refuses to get one. We’ve gone through all the features and everything and he is overly impressed. We’ve looked at the autopilot predicting crashes and saving lives and especially right after my aunt was nearly killed in a car accident, this feature is a huge bonus. Can someone tell me if it’s a good idea for us to get a tesla because to me it literally makes no sense why we don’t have one but right now he refuses to buy one (and yes we are looking for a new vehicle within the next month or so)

  43. PIPERBOY WILLIAMS says:

    This video is for rich people

  44. Brandon Belmonte says:

    Wrong vid for me 🙁 Costs are only for those who have solar, home+auto etc.

  45. Johnathan Perez says:

    18k miles in two years and you find yourself replacing all four tires? Seems much no? They should have lasted much longer

  46. William Salopek says:

    Is it pronounced Tezla, or Tesla?

  47. TheManFromTheMoon says:

    Im waiting another 4 Years before I jump to Tesla. Thank you for the breakdown!

  48. A Lopez says:

    I live 1 block away from a Tesla super charging station. So I sold one of my gas guzzling hot rods and used all the money to find a Model S. I found a 2012 model S P85 in perfect condition with free unlimited charging. Free 3g WiFi and tons of power with a 300mile full charge range. I scored.

  49. John Doe says:

    TBH, I used to not be crazy about the exterior design of Model S or white paint in general. But now, I think a white Model S with tinted windows looks super cool. The design has really grown on me recently.

    It looks futuristic, sporty but still not overly flashy imo. I would love to own a model s.. 😀

  50. Mister Mister says:

    TFOH!!

  51. Sucki Tumi says:

    Should’ve bought a hybrid Toyota or their cheapest Prius

  52. Bill Dean says:

    losing 24k over 2 years – Brutal

  53. superpeluso1 says:

    I just booked a 2018 model 3 with 48000 k miles the book is so strong that as used retail value still the same!!! That’s just crazy! I never seen that before not even on the so famous Toyota Tacoma! I sell cars for a living. A tesla will be my next car!

  54. Ayush Malpeddi says:

    I think you could sell the car for around 40k private, so depreciations isn’t so bad

  55. Heavens to Murgatroyd says:

    This an electric Ferrari. If yo can afford it and want to be that it's cool. But don't forget to figure in the fact that lithium the 1200 pounds of it in your battery was mined and it cost more to produce that battery than to make an economy car. Plus I don't see any toxic lithium battery recycling plants around do you?. Oops there goes the landfill for the next generation. I was an Engineer I think I kinda freed the data years ago………..

  56. Ivan says:

    hi Ben, any chance of an updated TCO analysis now that you know your sell price for the S? Thanks

  57. Refuz Tosay says:

    You can’t use tax payer subsidized solar to reduce the operating costs – that’s like me striking oil in the back yard and saying I get all my gas for free. Just like all the green energy bullshit – without tax payers footing part of the bill it never makes economic sense.

  58. Nation wide says:

    I think people miss the bigger picture. A gasoline car has many moving parts, all of which can fail at any time and be very costly to repair, even through normal wear and tear. Electric cars have essentially 3-4 components. A battery, an electric motor, tires / breaks/ rotors. So technically speaking, even if you drove your Tesla a million miles, your only concern is tires, breaks, and rotors. Unless theres a major malfunction, the electric motor and battery will last the entire life of the car.
    So no oil changes, no spark plugs, no fuel injection, no transmission, fluid changes, etc. No scams from shops wanting to diagnose your issue and replace 6 things for $4000 dollars.

  59. xCH0SEN1x says:

    I have a Lexus and my repair/maintenance cost is $0. Scotty Kilmer laughs (Laughing horse meme)

  60. Eddie Fontaine says:

    I have a 42k chevy volt
    Literally the worst car to have as a plug in I am expeditiously moving to the model 3

  61. Aloy 0 says:

    I want to get a used Tesla too, however it might be more difficult for me because I can’t see many Tesla cars here in Australia.

  62. InaldsBlog says:

    I very seriously considered buying a used Tesla in Australia. The concept is great, however the practicality and cost are not.
    We have long distances to drive and very few supercharger locations.
    Dealers and authored repairers
    are very few are far between. Insurance is astronomical. 3000 – 5000 AUD per year (for as 45 year old!).
    It's still cheaper (vastly) to own a luxury euro and I can get it serviced 6 km away and refuel anywhere, and I have 1200km range in my Passat.
    I'll revisit the EV concept in a few years.

  63. Rudy Sanchez says:

    Lmao this guy thinks his tesla is in bmw class

  64. Torch TV says:

    I own a 2015 Toyota Corolla and after 4 years, the cost of maintenance is $348.

  65. Jared Z says:

    Buy a new model 3 in 2025 after college and keep it for 10 yrs or buy a used 2021 ish model s and keep it for 6 yrs?

  66. Derek L says:

    TeSla not TeZla…TeSSSla. What the heck dude?
    Also is your conclusion that you need solar amortized over 25 years to justify this?

  67. lee1130fromtwitter says:

    Yikes. You got put over the barrel… I got a fully loaded Colorado for 31k almost 3 years ago. And have only lost 3k in depreciation… And I just got a c7 grand sport and looking to be no more than 4k in the 1st year that will probably stabilize since people are trying to offload the c7 for 8s….

  68. Phillip James says:

    Scotty Kilmer says all of these high end automobiles become endless money pits the longer you own them. I'll continue driving Toyota Corollas and Camrys.

  69. Car Craze says:

    You could have bought a brand new Honda Civic, drive it for 10 year with oil change and minor repairs and would still sell it for $5k. So your annual expense would be $2k

  70. Get Some says:

    My horse uses less energy and gets me from point A to B. No heater no parts just turds dropped on the roadway….and since there is no law for horse turds…..free of no worries for me……gitty up

  71. Icharis P says:

    crazy expensive. IMO i have a jag xf and i pay fractions of that

  72. Marinel Subu says:

    leave that metal parts, tire's ……. BATTERY ! , what with BATTERY , any degradation tell about it ! .

  73. Calx Royalty says:

    This videos credit score is way beyond my reach

  74. Jackson's Life says:

    I have a bmw z4 2008 and I had spend a lot more than that in yhe laat 2 yeara my friend.

  75. Moki Finance says:

    I would love to own a Tesla one day when I can afford to buy it in cash. For now my Kia Rio with a Tesla badge will do the trick

  76. Steven Salinas says:

    I have a four cylinder car that gets 350 miles on 9 1/2 gallons. i fill up 3 times a month at about 20 dollars a fill. How is your 70 dollar charging bill a savings?

  77. heavyduty187 says:

    All cars lose 35-40% in the first 3 years. Nothing new here on this point. Lol you got suckered into solar panels on your house 😂

    Actually you didn’t pay 1,327 in 2 years for tires. You replaced the original tires that came with the car and those are paid for in the price of the car. So next time you replace the tires then you can say you spent the 1327 for tires.

  78. pogi ako says:

    Im happy with my hyundai elantra cheaper in gas and in maintenance. Imagine u have to go solar too lols. Paying gas is still way cheaper. Just buy a cheaper car with good mileage on it.

  79. Pete N says:

    I am looking to get a used late model s for around 35k. I do need to read up on warranties on the electric motors and so on. But I drive around 77 each way per day. That puts me 35 to 40 dollars a day and about 1k per month. If I can get my payments down to around 600ish and only use super chargers, the savings can be 400 a month or 4800 a year. Now, this is not including weekends. So, after 6 years, I could be saving almosy 80 percent of the value of the car. Not a bad trade off and able to own a Tesla.

  80. Lorenzo Lodi Rizzini says:

    I feel the big part of the depreciation is because you are getting closer to the end of the warranty. Good luck after that.

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