Owning a Tesla Model Y Long Range for four years and driving it for 45,000 miles has been a revealing journey, showcasing both the benefits and the costs associated with this electric vehicle. Here’s a detailed breakdown of the experience.
Initial Purchase and Incentives
The initial purchase price of the Tesla Model Y Long Range was approximately $52,000. With federal and state incentives totaling around $7,500, the effective cost came down to $44,500.
Insurance
Insurance is one of the significant recurring costs associated with any vehicle. For the Tesla Model Y, insurance averaged about $1,200 per year. Over four years, this amounted to $4,800.
Maintenance Costs
One of the significant advantages of owning an electric vehicle like the Tesla Model Y is the lower maintenance cost compared to traditional internal combustion engine vehicles. Here’s a breakdown:
1. Tire Replacement: The Tesla Model Y Long Range has a bit more torque than typical gasoline-driven vehicles, which can lead to faster tire wear. Tires were replaced twice in four years at a total cost of approximately $1,600.
2. Regular Checkups: Routine checkups and minor fixes like brake fluid replacement totaled around $800 over four years.
3. Miscellaneous Repairs: Unexpected repairs like fixing windshield chips cost about $500.
Energy Costs
Charging costs can vary based on local electricity rates and how often you use public charging stations versus home charging. In this case:
1. Home Charging: Most charging was done at home at an average rate of $0.13 per kWh. Over 45,000 miles with an average efficiency of 3.5 miles per kWh, the total energy consumption was approximately 12,857 kWh, costing about $1,671.
2. Supercharging: Occasionally used for long trips and amounted to around $300 over four years.
Total energy costs came to roughly $1,971.
Depreciation
Depreciation is a critical factor in understanding the long-term costs associated with any car purchase. The Tesla Model Y has held its value relatively well compared to many other cars. After four years and 45,000 miles, it’s estimated to have depreciated by about 30%, placing its current value around $31,000.
Total Cost Breakdown
Here’s a summary tallying up all major expenses over four years:
– Initial Purchase Cost: $44,500 (after incentives)
– Insurance: $4,800
– Maintenance: $2,900
– Energy Costs: $1,971
– Depreciation: $13,500 (based on initial price minus current value)
Grand Total Over Four Years:
$68,671
Cost Per Mile Analysis
When evaluated on a cost-per-mile basis:
$68,671 / 45,000 miles ≈ $1.53 per mile
Conclusion
The Tesla Model Y Long Range has provided not only an environmentally friendly but also an economically viable mode of transportation over four years and 45,000 miles. The running costs are lower compared to traditional vehicles due to significant savings on maintenance and fuel despite higher insurance premiums. The car’s retained value post-depreciation further makes it a solid investment in sustainable automobile technology.
