Monday, May 27, 2019

The Cost of Owning a Tesla After 200,000 Miles

It seems that there are more advantages to owning a Tesla (and presumably any fully electric vehicle) than just saving money on gasoline. The author of this article calculated his costs after driving his Tesla for 200,000, and he's done pretty well. 
In total, here’s what the Tesla cost to “use and abuse” it vs. keeping it to myself and only driving 50,000 miles:
$79,000 — My purchase price for my used P85 with 35,000 miles (purchased in August of 2014).
−$25,000 — Turo Earnings
−$17,000 — Uber/Lyft Earnings
−$20,000 — Tax Savings
−$25,000 — Current Resale Value (Private Party)
$8,000 — Amount I was paid to own and drive the hell out of a Tesla. Keep in mind, I could have made a lot more as I only averaged 1 Uber ride a day over 4.5 years, and I only rented it seriously starting in 2016. I was having too much fun doing massive 48 state road trips and running my Flagstaff Vacation Rental business to really focus on maximizing the earnings.
Even assuming that you aren't going to try making money with Uber or Lyft, the savings on fuel and maintenance are substantial.

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