Tesla Model 3 Total Cost of Ownership after 3 years

First things first — purchase price

  • Delivery and inspection fee: $1300
  • Federal air conditioning tax(???): $100

Operating costs

Charging costs

Maintenance and repairs

Tires

Software upgrades

Insurance

Total cost of ownership

After 3 years, the total cost of ownership for my car is $79450.83.

  • $66760 initial purchase
  • $7051 insurance
  • $3024 software (autopilot)
  • $1388 tires
  • $1131.83 charging
  • $96 repairs and maintenance
  • The car itself is very expensive, there’s no two ways about it (but it was planned and calculated and budgeted for, so it’s not like it was a surprise).
  • Insurance is also quite expensive, but there’s not much that can be done about that in BC, so I can’t really feel bad about that.
  • Autopilot is the next most expensive thing, and it’s definitely not a necessity by any means, but it’s a core part of the Tesla experience and I would 10/10 get it again (for prospective Tesla buyers, it is now priced in).
  • The most impressive part is how low the true operating costs (charging and maintenance) are: $1200 to drive nearly 70000km is just insane.

Gas savings

  • vs 2019 Honda Civic with 6.92L/100km fuel efficiency and regular fuel: $5879.49
  • vs 2019 Toyota RAV4 with 8.1L/100km fuel efficiency and regular fuel: $7075.06
  • vs 2019 BMW 3 series with 10.2L/100km fuel efficiency (from my girlfriend’s car) and premium fuel: $10491.16

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Occasionally I write about personal finance and technology related stuff

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Kevin Lu

Kevin Lu

Occasionally I write about personal finance and technology related stuff

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