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My 240 volt outlet cost me about $300. 70 feet from breaker box. The money saved not having to buy fuel is wonderful. Spent $180 in the last year. About 12000 miles. The state of Georgia charges $200 a year for electric vehicles. Got to pay those road taxes. Roads and bridges you know. Love my MYP.
I came to argue because I thought it was going to be a Tesla bashing video, but it was on point and honestly I wish it was things I knew before I bought my car. The check I had to write when I got my tags hurt so much!
Thank you. Overall tesla's tire cost is a plus due to long life. But do not forget to budget for snow tires since regular performance tires will not be suitable in snow areas.
My Type V (rated to 149 MPH) tires only are rated for only 60000 miles since they are high performance all weather ones. They get better traction then mere snow tires.
Oregon's registration can be pretty steep. I paid I believe $300ish for my used Nissan Leaf. However, an interesting thing I learned while trying to research the cost of owning a Tesla: we have a program called OReGO that charges about $0.02/mile to help repair roadways and bridges and if you're signed up for that, registration drops to around $80/$160 for a used/new EV.
Well, it is an Audi, driving heaps of garbage, endless money pits, was your previous car a Fiat, they are total crap. A bet you think a Dodge RAM is not junk too.
My time, on a trip, is $250/hour. Every 200 miles, add $250 to EV costs. Add more charges if I have to wait for an open charger or have to shop for one that even works. Add the horrible expense of extra nights in hotels and expensive restaurants. EV chargers are not located at McDonalds or Motel 6.
My 2021 Y Performance has 43,500 miles presently and I had those p zeros that lasted 22,000 miles on the back tires. Replacing them cost me 1,000 bucks! At 39,000 miles I switched to Gemini wheels and all season continental. Much cheaper to replace and a little bump in range increase at around 20 miles total range 😊
Evs weigh a lot more than ICE vehicles meaning more tire wear and increased brake distance. EV is really not about saving money, but about 0 emissions.
Great Video. No registration fees in Florida. Love my Tesla and dont think I will go back to gas cars any time soon.I charge at home and its alot cheaper than fuel these days. My car is always full... lol
"My car is always full... lol" That has to be one of the coolest aspects of owning an EV. "Yawn. Oh look, my 'gas tank' filled up overnight. As always."
@@marlu6373 Its ok . every time you fill up your gas car you pay a gas tax. So it pretty much evens out at the end of the year. Still save money charging at home.
#1 not in my state #2 cost me 35 bucks to install myself #3 Super Charging is free with my Model S #4 ceramic coated it myself for 75 bucks Accessories are optional #5 yea, my tires only last 35k miles as for cost, I never buy cheap tires, no matter what car I have. #6 yes insurance is more than my ICE car but not as much as described here #7 Premium connectivity is free with my Model S #8 no maintenance in 8 years except for my 12v battery (replaced twice)
This is just another political game fooling people. I would suggest waiting too, because next is Home insurance increasing for those who have these electric cars that cost way more damage in a fire.
I bought a Model Y 2022 and I got Tesla insurance. They give you a "Safety Score" of 90 to start with and adjust it based how you drive. My initial premium was $145/month at the safety score of 90. After 1 day of driving my safety score was 96 and my premium was adjusted to ~$111/month. After 2 days of driving my safety score was 97 and my premium was adjusted to ~$105/month After 3 days of driving my safety score was 98 and my premium was adjusted to ~$100/month After 4 days of driving my safety score was 99 and my premium was adjusted to ~$95/month This is lower than I was paying for my 2014 Honda Accord Hybrid. Conclusion: Insurance on a Tesla is cheaper if you use Tesla Insurance.
"I got Tesla insurance. They give you a 'Safety Score' of 90 to start with and adjust it based how you drive." Cool. I was wondering how the initial pricing went, but hadn't looked into it. When I bought my M3P, on the recommend friends and family I checked with USAA... they quoted $120/mo. Sold. In four years, I have nothing but praise for them. One catch... the requirement to be - or have been - a servicemember, or an immediate family member of one.
You do realize big brother is Watching?? Do a few launches and watch the score drop?? Lol I have been driving my ice for a whopping insurance rate of $45 a month and I give myself a rating of a solid 92%(I like to drive safe,but spirited) lol
My experience in over a dozen new cars in my lifetime OEM tires last about 18,000 miles. My tesla is right near that and guess what new tires. Most of my tires in last 10 yrs $200/tire min. That includes normal cars. Trucks or cars no matter. In Texas years they increased the ev rate. My understanding is they are charging $200. But my gas cars are$75. So it's really only extra $125. It's never going to be zero
Good points. Some of them will be mitigated, however. For example, Turanza is coming out with tires specific for EVs, which will last long and perform better. Regarding the EV registration fee, my state doesn't have it, but obviously in the end, we're all going to have to pay it, because the revenue is needed to take care of the roads, so that's only fair. Regarding the accessories, that's no different no matter what kind of car you have. Making a mistake and being charged idle fees? I guess that's good to know and once you do, you should never make that mistake. Let's be honest: the overwhelming majority of people will be charing from home and this won't be an issue. Good video.
I would be wary of tyres that a manufacturer claims will last longer and perform better from a minor brand, especially if they're saying "better than Pirelli". The fact remains they're generally more expensive than on ICE cars and wear faster so it's a double whammy. I haven't watched the video yet because I have no sound on this device, but a lot of cars come in 2 or 3 variants these days, each with accessory packs included in the price. There may be very few options, things like roof racks etc. that most people don't want. Had to laugh a "idle" fees, I get it but now you even more tied up as you have to be back at the car at a specific time. The more this stuff comes to light the more put off people are going to be.
Don't basically all EVs have specifically designed tires already? Thought I watched an old Real Engineering video on how EV tires differ from regular tires. At least for Tesla.
the cost of an EV is what really prevents people from saving any money. Sure, you save money on gas but you would need various years of ownership to make up for that when it comes to the price difference. It just doesn't make sense to own one right now. Maybe it will in 10-20 years.
Just replaced the 12volt battery after 3 years. Easy to do and only cost about $80 bucks from Tesla. We have a 2020. I think they switch to Lithium battery after the year 2021.
Just ordered my model y performance yesterday. I’m about 45 minutes east of you. I’ll probably end up taking delivery in Nashville. What would you rate your experience?
Agree. My 2022 Model S has a wider and more durable tire in the rear prevents me from rotating the tires. Also, most of the driving of all wheel drive Teslas is on the rear motor unless it is a slick road needing the other motor to kick in. Tire pressure is very important not so much rotation. My tires last into the 30,000 mile plus range.
As long as the car is paid off by the time i have to replace the batteries or motor its all good . Im paying 800 dollars a month for a car payment , and 226 for car insuramce . My car costs me over a grand a month
08:20 I am driving a Dacia Lodgy in Austria and need for 70.000 km 6 tires (I have to exchange the front wheel tires twice as often than the real wheel tires) for 50 € each. Considering a Tesla Y, I was shocked by the tire prices. I researched the theme. The cheapest winter tire for the Y is in 235/55 R18 for 70€ The cheapest winter tire in 255/45 R19 is 110 €.
I couldn't justifying replacing my crossover with an EV. But I build my own Ebike. No car registration or insurance. Cost about 5¢ to cover 15 miles of riding.
😂 Maintenance costs are supposed to be less with an EV but I haven't seen that with ny model S. I can do much of my routine maintenance on my ICE vehicles but not much on the Tesla. Right now my Tesla has a problem with the battery conditioning system. I believe it's going to be an expensive to repair. So although EVs have fewer routine maintenance requirements repairs for any problems are expensive.
I’m a fan of more EV’s, however I have the same thought too on repair cost. I like to and can work on my ICE vehicle but when there is a problem it’s a “slow burn”. You get a bit of a warning when there is a problem that needs to me fix but with a EV it could be a problem that could leave you stranded and there is no tool in the trunk to save you. Also to you point an expensive repair if something goes horribly wrong.
My Tesla registration is about $200 more a year, or $16 more a month, more than my wife's Camry. My Tesla insurance is $47 more a month than my Camry so that comes to a grand monthly total of $63 a month but I have solar and I basically don't pay a dime to charge my Tesla all month long while my wife has to pay over $300 a month in gas and $100 for oil changes and $250 for tune up's and all the other BS maintenance fees I don't have to pay in my Tesla so driving electric saves me a ton of cash every month.
I have a model 3P. No one told me that it would attract really beautiful women and that they expected me to spend a lot of money on them. I never budgeted for that when I bought the car :(.
Don't forget how much you paid for fuel, and maintenance, oil and filter changes, inspections etc for your ICE car annually and then all these expenses begin to fade by comparison.
Thanks for the video, despite all the negatives you highlight I still think Tesla (and all EV's) are excellent cars and the way we should go in the future. As hard as it is we have to say goodbye to fossil fuel cars.
Lol I pay $1088 less in insurance for my Model Y Performance than my M2 Competition that I sold it for. Tire wear and price are similar in both since both are high power cars with wide and low profile tires. Compare to a performance gas car, the cost for speed with a Tesla is less.
I think Virginia has some program where EVs get charged registration fees depending on the number of miles driven. You plug something in your car OBD port to track miles. Not 100% sure though.
BAD IDEA!! ODBC-II ports are NOT designed for constant use. You will destroy lots of expensive parts !!!! Same form that safe drive BS, you will ruin your car !!
All fair enough and interesting to see how things are in the US. Here in the UK we don't have the state charges and currently my 2016 Model S has free road tax, which increases next year to £20 per annum. All BEVs currently don't pay road tax, although there are charges for all BEVs being introduced next year. As usual when politicians get involved, the changes are ill thought through. My Model S goes to £20 per annum, but the small 2014 Kangoo ZE van that I used to own, will go from £0 to £270!! When we need more electric delivery vehicles in our towns and cities, this seems a rather counter productive move! I think ultimately we should go to a mileage based system, accounting for the size and weight of the vehicle as well as miles covered. I cover at least 20,000 miles a year, while my elderly neighbour covers 300miles, we should not be paying the same to use the roads. And for at least the next 5 years, last mile electric delivery vehicles should be exempt. Cheers
The amount of money we spend on gasoline versus electricity right now is a real bargain. I’m spending less than a dollar a day Canadian for my fuel and that’s it and I had the car for a year and a half and it never has let me in the lurch a problem with door locks with that’s it and it’s nothing. I just want to cry fault and I just wanted to say that there’s so much that we need to do but we need to understand that we can’t ignore the fact that there is our Cleveland radiant shoes I want to fix them up cost at 🎉 8:14 8:14 Cleveland radiant shoes I want to fix them the municipality in the city in the eventual or federal state government and the national government, we need things that we need them to build all those chargers because what’s going to happen is new and the buyers are gonna be coming and coming and coming and they’re going to keep rolling up those supercharger stations which is not too bad right now but you go there at the right time baby but you’re going on three day holiday and you can’t get a spot and you have to wait there for a while and there’s not You’ll have more than what we can do as we get 8:14 sd bf by Ty he p et OP ppl ev we è Bn jirebei ppl haveb Tubi read appointment and cf even Though T hug re main gr rdixencewith the proponent of TVs and that’s the way it goes and if there’s somebody that wants to build and they do they were used I was in that lot more thorough then it’s much more dangerous and it’s still good it’s better than what we have but we’re ready for it and we’ve got to have everybody here in these cars. I’ve got to make it affordable and chargeable and everything else if you need it eir charges for their homes and they will do it and they building the condos the factories, everything or people park their cars you can put in charges and you can charge them for the audit I’m just saying, but this will be done with bough by a very tec Tesla oriented. This is where’ll see too ord err nth see t we all wsntnelecttivlewhere V’se take to the new and much have hydropower to in. Whatvresly nm interests me the most my mind reflects a LOL l of aged opinions and its very 8:14 We need to follow through by keeping the flow n the same Btw we had a pretty large screw embedded into the wall of the tire. Imgoingbtontrybtoncollgoing suffice it to say it was no car problem with it. It was just a new dryer that had to be put on every match the other tires in the car reschedule car and it was fine is $400 and it was installed. The one far away is just worked fine and then they don’t even have a spare in the car because you’re using it but I do have a tire tire inflator. I guess I can put it in there and take it to the case. I know Tesla come to you Roadside service I think you have 800 km he need to be towed it they open the doors from the spacing it’s all really awesome. Do you have an iPhone, if you have an iPhone, do you know what it’s like to get the updates release phase change is Alexa better. Bottom line is the car does the same thing with Bill take 25 minutes of time they give you like a warning he’s gonna update your car and drive it you can’t see it while you’re doing it you just have it written software goes into the computer in the car and the car with then it will just look different. It’ll be different depending on what they put in a change in the automatic driving. 8:14 @@ What is genius referring to ok k to. when we get the card done and service that we going to Alberto, we’re going to take dinner we’re going somewhere I should be home like driving the car. I don’t know how long I wanna drive it but if you want to know if I have my meds with me I should be homey songs We are are 8:14 8:14 can you please explain to me what is 814 814 drivers were they doing you feel like they’re qualified to drive a Tesla very young age insurance company won't like it but they like anything I want you to buy insurance to stay home in bedev you feel like they’re qualified to drive a Tesla very young age insurance company don’t like it but they like anything I want you to buy insurance to stay home in bed I had to write this because it was needed but unfortunately there’s too many English spelling mistakes and think that’s just not right so I’ll have to go over it again but I have to also but we’re all the movies and clips we have a where are use the ones that are relevant. We got to get it so I’m going to get the documents for the sales but I also for drivers koi in pom
How is any of that "hidden" by Tesla or any other vehicle manufacturer? Maintenance, insurance, fuel (gas or electric), tires, etc. are required for every. single. vehicle. on the road. You'd have to be pretty naive to think any of this is "hidden"
Overall, interesting/valid points, though I'll say that number 4 has no business in this list. While everything mentioned in number 4 warrants consideration, it applies to any new vehicle purchase at all... to put it on a "hidden TESLA charges" list feels disingenuous. On a "hidden new-car costs" list, sure. By contrast, I'd agree that number 5 (tires) counts as a legitimate unexpected difference from driving pollution belchers. Weight matters a lot, and while they look like conventional passenger cars, the batteries make them heavier than looks alone might suggest. Number 6, insurance, also valid. I changed insurance companies to deal with that. Farmer's wanted an *additional* $600 a month to replace my existing car with my M3P. By conrast, turning to USAA bumped me about $40 a month, to around $120. It's hard not to imagine that there's at least *some* opportunistic price-gouging going on with most insurance companies. I haven't priced insurance *from* Tesla but the driver-specific pricing they can offer supposedly makes them competitive. Number 7, Premium Connectivity, seems like a weak entry in the list, though. For one... it's an "Oh by the way, you can get this cool add-on". It's neither a necessity nor anything anyone coming to Tesla from another vehicle is likely to expect having. And, as you note, at ten dollars a month or less, it's almost like spare change for anyone who can afford the car in the first place. So... hidden cost? Meh. Well done on #8, the anti-cost of maintenance. Not having deal with virtually any of the "normal" maintenance costs of (chuckling) explosion-based engines is such a joy.
I do t mind paying the extra registration that goes to the road fund. Totally fair. If you have a super charger close to home I would consider trying to just use a wall outlet for home charging. That’s what I use 95% if the time. Try it before investing in a high power outlet.
Sorry, but we don't have EV fees in Hawaii. We pay more on EV registration fees bacause it is based on vehicle weight. Makes sense cause EVs are heavier whereby it takes a toll on our roads.
another cost of EV ownership is "depreciation"... especially with tesla reducing MSRP constantly, those who bought tesla may find a new tesla costing less than they used one they are driving
First of all many of those expenses aren't "hidden" at all but in plain sight. Tesla lists the different charger options on their website with the price tag. That is certainly not hidden and should not surprise anyone. Then the charging (and supercharging): if nothing else using just a tiny little bit of common sense and you know that you need to charge your EV. Supercharging is expensive but even that shouldn't be a secret. Charging at home is super cheap if you live in a state with inexpensive electricity or if you have solar panels to power your home and car (I have a 27 KW PV system with 40 kWh battery storage). License and registration for our 2 Teslas is LESS expensive than for the ICE cars the Teslas replaced. The tires are more expensive but they last 60k or more if you get quality tires. Insurance is way cheaper. Both our Teslas together cost less than $1600 per year (an average of about $400 per 6 months per car). Maintenance is almost not there. Except for the car washes, wiper fluid, and tire rotations. First scheduled maintenance is at 90,000 miles and cost about $500. After 73,000 miles with the Model 3 total cost of charging was $3,600, $1,600 insurance, $1,400 set of new Michelin tires, $200 tire rotations, $200 license and registration, $200 misc items. For a total of $7,200. That translates to a total cost operating the car at 9.87 cents per mile. Gas alone would have cost a whopping $10,220 (25mpg, $3.50 per gallon)
If you purchase a Tesla, you soon realize it is a minimalist vehicle. You will need to purchase a home wall charger, if appropriate. Note: You might be able to have your local electric company pay part of that expense. You will need to purchase certain vehicle tools like different types of charging apparatus. You will need to purchase floor mats, drink holder, etc. Additionally, if you intend to use your vehicle to sometimes camp, you will need to purchase a mattress and other items of that nature. Finally, you are told that the vehicle should be wrapped or partially wrapped as well as coated, which can be a large additional expense.
Why would I camp in the car with an inflatable mattress when I have a bed at home or at a motel? Good for ppl who like knocking their heads in a crammed car space huh. I rather pitch a tent it’s got more head space than any car.
@@bobby350z You might be correct, however, wrapping, coating, charging unit/installation, and certain key tooks could add an addition 10K to your overall vehicle cost.
@@markroath98 - charger installation is definitely expensive here in CA but overall charging at home is much cheaper than super chargers. Wrapping I did on my Z 20 yrs ago, not going to bother now. Maybe someday if I buy a nice Ferrari, then maybe.:)
"If you purchase a Tesla, you soon realize it is a minimalist vehicle." "You will need to purchase a home wall charger" If you normally drive more than 40-60 miles a day, a home wall-charger is beneficial. Flip-side... What ICE-vehicle owner can install whatever it would take to have the gas tank refill overnight, especially regardless of how close it is to empty? "You will need to purchase certain vehicle tools like different types of charging apparatus." ??? Um... Tools? Charging apparatus? The first point already covered charging, so... what tools? Adaptors to allow charging from other (usually slow, crappy, one-or-two stall) charging stations? Not a necessity at all, but sure, they can come in handy maybe once every couple or few years. "You will need to purchase floor mats, drink holder, etc" Need? No. Many (most?) new car owners *of any brand vehicle* do want to accessorize their vehicles in multiple ways like that, though. Not a Tesla-specific consideration at all. "...if you intend to use your vehicle to sometimes camp, you will need to purchase a mattress and other items of that nature" What??? Again, in no way Tesla-specific. Do *any* other new vehicles come with a mattress, camping gear, whatever? "...you are told that the vehicle should be wrapped or partially wrapped..." That's a *sensible* thing to do, but *again* it's a sensible thing to do for any brand of new vehicle. Nothing Tesla-specific about the value of doing that.
"What about car insurance coverage?" It varies. Tesla itself offers good rates for good drivers. USAA is great for current/past servicemembers and their immediate families. Many well-known insurance companies offer, uh... the opposite. It definitely pays to shop around.
Tires are around 30% more and last aboit 40% less than a traditional gas car of the same size. Brakes cost 400% more and last about the same as a gas car of the same size. Pretty much every part is 3-4x more expensive than a gas car. If you own your car for 20,000-40,000 miles, yes, maintenance is cheap. But long term, you will spend way more owning a tesla than a gas car. Not only that, once tour battery is degraded, your car is essentially a brick. Unlike a gas car that can get a motor rebuild or replacment for a few thousand bucks, a tesla battery ks 20,000+. Might as well take the loss and buy a new one. In the end. Saving 3-5k on gas doesnt warrant the extra you will spend across long term ownership.
National Transportation Safety Board, Bureau of Transportation Statistics and recall data around fires for gasoline, hybrid and electric vehicles. It found that Hybrid vehicles reported 3,475.5 fires per 100,000 sold. Gas vehicles accounted for 1,529.9 fires for every 100,000 sold. Electric vehicles saw just 25 fires per 100,000 sold.
Not really until like 2-5 years of driving it. Saving on the gas your would have used. Battery mining/manufacturing is really intensive on the environment. More CO2 produced for a new EV than a new gas-powered car.
A car at 30 mpg and 15,000 miles uses 500 gallons with a tax of 45 cents/gallon, which equals $225, which is what South Dakota charges plug in EVs. That economy car is also 2500 LB and not 4200 LB. That is 1.7 times more weight for the EV. Tax should be weight x distance with weight being the empty weight plus one 200 LB person. An EV should pay at least 1.7 times 225 = $382/year, say $400, not the $300 stated here. As for home charging...fire risks...just say no. A 100% RE grid will be 60 cents/kwh. In the UK it is now 80-90 cents/kwh to charge. That is like buying fuel for $27 to $30/gallon. You can capture CO2 and make fuel at home with new combustion tech for $1/gal. EVs will be up to 20 to 30 times more to run than combustion... Insurance for an EV is $2000-3000/year vs combustion at $600-900/year or 3-4x more for EV. Why? Crash damage totals out EV, but no combustion. Tires will be 2-4 times more...
"Tax should be weight x distance with weight being the empty weight plus one 200 LB person." Totally on-board with the idea that we EV owners should pay our fair share for using roads. Also agree that weight is a reasonable consideration. That said... how is weight factored into the difference in road-wear between, say, a Hummer HT, and a Toyota Corolla, with a one-size-fits-all gas tax? Ok, indirectly (to some extent) through the hideous gas mileage (greater consumption, higher tax) of the Hummer, but that's only indirect. Again... seems like a fair challenge, but... if we're gonna go there, weight-factoring should apply to the weight of every vehicle, not just EVs. Perhaps we could do that by scrubbing the gas tax altogether, and just going to a weight x distance tax for everyone... though I can't help thinking that would somehow disproportionately affect people who're less well-off, financially. Do the less well-off usually have to drive farther than the more-well-off? I dunno.
Both fuel and Electric vehicles should be weight based, including semi trucks. An axle on a loaded semi (80,000 LB) does the damage of 18 cars per axle. 5 axles x 18 x current car at 2 cents/mile = 180 cents/mile for a truck. $1.8/mile? Sure, that is what the Actual DAMAGE is/costs. My neighbor told me this who is an engineer on major road projects. This would also help retail stores. Poor people drive lower weight cars in general. Cars are sold by the LB. Expensive cars weigh more.@@patricksweeney6334
Why you wanna EV and not drive much? Get out there in the real world and enjoy it b4 you die. Otherwise just buy a gas car n not drive it much as you wish. Strange world! I don’t think EVs are made for ppl who doesn’t drive much, seriously it makes no sense buying any EVs.
@@jacobheinz8236I agree. I drive more than the avg person so I bought an EV. It wasn't the gas that drove me crazy. It was the expensive oil changes. My prius had the dumb oil filter underneath and you had to crank it off with a special tool. I'm too old to climb under that car.
@mostmost1 the Prius is a hybrid it only gets about 44 miles in its ev only mode so the oil changes your referring to are for the ICE not the electrics. A true EV has no oil changes.
#6 - more like triple to quadruple, I pay $800 a year for my Hybrid Camry's insurance and I have heavy coverage no 250% is no= where near 35%, what a liar !!
Thing with EVs is until electricity is produced 100%clean there’s absolutely no point, if the grid is burning coal and record amounts of electricity are being drawn from that grid to drive cars all you are doing is appearing not to pollute while still being part of the problem, and merely polluting the cheaper suburbs where power plants tend to be located. If you really want to help the planet don’t own a car altogether, cycle or take public transport. Consume less, like truly only what you need, take cold showers for your health etc etc. We cannot have our cake and eat it. Renewables will not even meet current demand, let alone what it will stand as when everything is electrified, and they still require fossil fuel inputs and are extremely inefficient. We cannot ‘buy’ or ‘build’ our way out of this problem, lifestyle change is the only real solution to reducing one’s environmental impacts. Protest as much you like, government can’t fix this, big business will only ever virtue signal (Musk is the biggest symptom of this trend: I mean the guy is burning methane to launch massive rockets instead of using hydrogen, for example, and flies about in a private jet!) only we, as individuals, can actually change things by changing our habits and expectations. And that’s the cold hard truth.
We have liability insurance on our Tesla that we paid cash for. And it’s only 50$ a month. Just sayin. ¯\_(ツ)_/¯ for those who don’t like to do math that’s only 500$/yr our bmw was more expensive to insure than our model X
I don't understand why you would not mention that you can get a substantial credit back for the tread wear warranty when buying new tires. For me this amounts to hundreds of dollars per set of tires replaced (typically $300 - $500 off the price). My local Costco does not honor this warranty but America's Tire / Discount Tires does. If you don't ask for it, they'll often "forget" to give it to you, so maybe you just didn't know about this...
I would not call these hidden expenses. Everyone interested in EVs would learn of the advantages and costs of owning an EV. Purchase price of a Tesla model 3 or Y has come down so much that buying a M3 or MY is actually cheaper than an ICE car in the same premium class, even before tax incentive. Next, the saving in gas fill up is well known. For me, it’s about $200/mo with my MY. The only thing I have to pay more per month is car insurance which is roughly 50% more than my previous ICE car, or $40/mo. So far no maintenance cost for my MY, and I expect it to be so for the next 5 years, which is a well known advantage of EVs over ICE cars. So yeah, it totally makes economic sense to own an EV, especially a Tesla with all the conveniences, savings and performance.
You forgot to mention that if you buy the "performance" option and then sell the car Tasla disables it and the new owner has to pay for it to be reinstalled.
Take a look around you...does anyone notice the anxieties of this nation? Up is down and down is up! How will EV's survive under brown outs or electric grid fails??? Talk about throwing a wrench into your daily life...
"I bet there are more than 8 hidden expenses an ICE car dealer will not tell you about." (chuckling) omg, yes. That really should have been listed as one of the advantages, never having to "deal" with a dealership, from Day One. "Well, given what we've offered on your trade-in, Ralph, my manager's kinda of in a bind on coming down on the sticker price... But lemme go back and talk it out some more. Wait here."
You should have balanced this with a 7 unexpected savings elements as there are a lot I didn’t originally factor into my cost savings calculations. 1. Utility special EV charging rate of 6cents / kWh. $200 for 12K miles. 2. Free charging - my last 3000 mile trip, had almost 1/3 of the charging was free. Hotels, local city chargers, Cape Kennedy, relatives house, etc. This equals over $250/ year for me 3. Work mileage rebate from IRS not adjusted to EV’s yet, so I make $100 in profit every time I drive to airport for work travel of pure profit as I am paying $0.02 / mile and getting $0.65 IRS credit based on gas vehicles 4. HOV lane pass - convenient. 5. Utility $120/year ($10/month) direct bill credit for signing up for EV pulse to auto schedule at lowest cost tier. This is literally 250 miles for free each month paid by the utility. 6. Maintenance costs so far non-existent. I am sure others can come up with one more. This puts my total savings over $2K per year and I don’t drive that much.
One more point, I too got a large quote for Tier 2 charger installation, but since I work from home I didn’t need so I used the 110V wall charger for all my charging. I was originally worried about this, but 40 miles per night or about 100 miles / day is not an issue for me.
The free charger one is a huge surprise for EV owners. I'm in a Nissan Leaf and I was shocked to learn (at the time I got it) that my state had old outdated superchargers (CHAdeMO) that were free to use (but also very iffy on if they worked and you'd often have to call their number to get it reset). My first few months of driving were absolutely free. Eventually the state actually updated them (and added a CCS charger) and they're now expensive, but the level 2 ones are still free (though very damaged at this point). For non-Tesla, there is a hidden negative surprise, though, and it's basically what I covered: unreliable chargers. You don't always know for sure if a charger will be available and working and accessible. I once was forced to use a public CHAdeMO that had a broken touch screen. Spent a good 5-10 minutes in the cold rain tapping out my code only to have it deny me because the server was down or something. A fellow Leaf owner stops there and has a card to tap to it and they offer to let me use their account to charge up. The charge was free, but it was a hassle and I would've been stranded without someone's help.
Just did another 600 mile trip to CT from MD for work for about $10 total in electricity. Tolls were almost $75. Got free charging at the Marriott, free charging at my cousin’s house and used about $4 for a splash and go from a supercharger and $6 of home electricity. I will be getting about $300 in IRS car usage rebate from my employer. I have already exceeded my $400 profit a year estimate from my work expenses in 3 months. Until the IRS fixes this, this is almost all profit that can be used in your savings calculations. My yearly savings is way over $2000 / year already without properly figuring in reduced maintenance costs.
Some of these are very state and circumstance specific, but this is an excellent point and great idea. Lots of these are indeed worth considering as well😀
The biggest expense is body repair. It can cost almost the price of the car to repair body damage that might cost 3-4k in any other car. My insurance covered mine, and they did beautiful work, but I would think twice about buying another one because of this cost. Surprisingly the insurance company did not raise my rate, but maybe that's because it is already baked into the high rate I'm paying. Many of these "hidden costs" are also true on any other car.
To install the wall charger 75 feet away from my breaker on the outside wall of my house cost me $2,300 before buying the wall charger itself. I received 3 quotes that were all within this range. The material to install it myself would have cost a little less than $700. The amount labor involved is probably 2 hours with easy access to all joists and no drywall work. Expect to get taken on an absolute ride by electricians. In the end I opted to have the work done for liability reasons but its a fairly simple install. In addition my driving record is flawless and my insurance went up $65 a month with the Tesla coming from a 2017 Toyota 4Runner TRD Offroad.
After purchase of a Tesla wall charger, I paid an electrician $800 to install it, which he installed at the entrance to my garage door, which the breaker box was in the back of my garage. Upon completion, the wall charger had no visible line running to it.
@@XX-166 sure, if you’re retired, or if you live within walking distance of everywhere you drive to. Might as well pocket the tesla money and buy a scooter. they charge off 120 too
If EV owners need to pay increased registration fees to help pay for roads, then ICE owners should pay increased fees for polluting (actually, oil companies should just pay a tax on oil sold).
Actually evs are polluting way more than gas powered cars. Green is a scam. You use more power which means the power company has to use more fossil fuel to provide energy. Get a clue and off your fake high horse.
Enjoy your videos. Very informative. Texas just passed a new bill that adds $400 initially, with a subsequent $200 per year over the standard registration fee.
"What I save on time not having to go to the gas station anymore alone is worth it." Right? "Oh look, my 'gas tank' magically filled overnight again." Driving by gas stations has its amusement value now, too. "Oh look. A gas station. How quaint." Though, four years in, now I hardly notice them.
What about time wasted during charging? At least most gas stations have snacks and some have restaurants. Very few charging stations have them nearby. Most ICE vehicles have nearly 400 miles of range, which doesn't change much in cold temperatures and refueling takes 5 minutes, not 5 hours. To top it off, EVs aren't zero emission vehicles because the grid uses primarily coal and natural gas to generate the electricity.
Installing a 240v outlet or wall charger can get even more expensive than stated if you have factors such as a) the garage is a separate unit rom the house and/or you need to add a sub panel because where you park is far from the main panel. I have both issues and my quote was for $5500 to install outlet, sub panel, digging a trench in the yard to run conduit, etc. Some homes just have less ideal setups for you to install. So I am looking at a more diy approach to cut costs, but a qualified electrician will still be needed to help make sure it is done right. Definitely need to budget to prepare for these expenses.
I added a dryer outlet. 240 v giving me 24 Watts max. Still quick and wasn't very expensive. I also updated my 100 watt panel to 200 watts. My driveway is near the new plug. I run the mobile connecter through the dryer outlet and charge my car. The dryer adapter cost $35. The upgraded panel and outlet cost $2500.
@@XX-166 I used a regular outlet for years with my prius prime. I was updating my panel and added the dryer outlet just to update my home. It wasn't expensive and works even better.
I would not consider any of these hidden expenses. If you do your due diligence before purchasing the vehicle you would have known these. The only thing I missed when I bought mine was that I did not realize that my M3 came with summer tires; I had to invest in a set of winter tires.
And honestly depending on where you live you may not even need winter tires. And if you do need them, you’ll definitely have better traction in snow that “all seasons” anyways Cheers
Just an added thought for disabled veterans. Depending on your state and the percentage of disability you have you may be able to get reduced registration fees. And you may even be eligible to get reduced property taxes as well. In NV and at 60% disability they knocked off more than $400 in DMV fees when i bought my model Y.
@@jacksongil9123 I t is based on the purchase price of your car. My Y was just over 57k and the registration was just over 1k. As a disabled vet they knocked off more than 400 of the cost. And with my model YP I will be due the full 7500 tax rebate when I file my taxes next year. Currently there are no other road taxes for an EV in Nevada.
