How much does it really cost to own a Tesla Model S?
A year ago, we shared Ben Sullins' Tesla Model S cost breakdown. It showed the true cost of ownership of his vehicle over the course of a year, including depreciation. Sullins also included his monthly loan payment, auto insurance, charging cost, and maintenance/repairs.
It's also important to note that Ben installed solar power this year, which dramatically impacted his savings.
Now, we have his second installment. The breakdown features all the same categories and provides a tally of the bottom line over two years of ownership. You'll see that total repair and maintenance costs add up to only $725, although he lists tires separately. The tires alone ring in at $1326.55.
All-in-all, Ben's detailed estimation shows a cost of $23,658 for two years. This amount factors in the depreciation, as well as fuel savings.
Video Description via Teslanomics by Ben Sullins on YouTube:
It's been 2 years since I bought my Tesla Model S so it's time to break down all the costs for you. Get this direct to your inbox at https://teslanomics.co/join
The main cost categories I look at are: - Fuel/Charging Cost
Aside from tires, Sullins' Tesla Model S incurred very little cost for maintenance and repairs over a two-year period.
- Insurance - Loan Payment - Depreciation
See the full details here -
Loan Summary (2 Years) Total Interest $1,151.34 Total Payments less interest' YTD $28,249
Depreciation (2yr Total) $18,100
Insurance 2016 $1,226 Insurance 2017 $1,161
Total Fuel Costs $1,119.50 Tires $1,326.55 Maintenance & Repairs $725.00
Fuel Savings $1,090.17 % Fuel Savings 49.34%
## Total Cost After 2 Years $23,658
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