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February 8, 2022
Posted by Chloe Taylor

To Tesla (Save $2k A Year On Gas) Or Not To Tesla (Costs $45k-$145k)?

These autonomous cars are no longer an idea of the past; but are they worth the investment? To Tesla Or Not To Tesla…

The idea of a self-driving, electric vehicle is not a new concept. Automobile companies have been trying for decades to popularize these vehicles, without much success. That is however, until Tesla came along. Tesla’s cars are not only incredibly technologically advanced, but they are eco-friendly and cost-efficient. Sounds too good to be true? That’s because for most, it is. Tesla’s cars are considered very expensive with the price ranging from $44,990 to $129,990. Is the original investment however, worth the money-saving features that the car will inevitably produce?

The average American spends between $1,500-$3,000 on gas annually. The typical price to charge a Tesla is about $500 annually. There’s no argument that it is cheaper to drive an electric car. Tesla cars can charge fully in about 10 hours (that just means plugging it in when you go to sleep-how easy is that!). With electric charging stations opening up to accommodate this growing need, the ease in which to charge the Tesla is quite effortless. If you are one concerned with protecting the environment, no doubt that Tesla’s vehicles will appeal to you. More importantly than not needing to pay for gas, these cars are vastly impacting the environment by not emitting dangerous fumes into the air.

Maintenance on a regular car can cost more than gas itself. While most people have insurance, it does not cover everything and rates can go up. The average cost of maintenance on a standard car is about $1,000 annually. The Tesla? Less than half of that. Because the Tesla does not operate with an engine, the cost to maintain the vehicle is naturally much lower. Besides for basic tire changes, wiper replacements and air conditioning cleaning, the Tesla does not require nearly as much upkeep as a regular vehicle.

By owning a Tesla, you will save around $2,000 a year on gas and maintenance costs. A typical Sedan costs about $30K to buy while the Tesla will cost you $15K more than that. So, is it worth it to buy a Tesla? Well if you are planning to keep your car for more than six and a half years, the answer is yes. After this time frame you will begin to see a return on the original investment. If you can’t afford to purchase it but still want to reap the benefits of the Tesla, leasing the car is a great and affordable option. It is projected that the price of the Tesla will eventually decline as the car becomes more standard, but there is no time frame for when that will be. Regardless of the financial aspect, autonomous cars will undoubtedly be the accepted way to travel in the future. What are your thoughts? Is the Tesla worth your money?

 

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