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You Can Save $15,000 On Gas In 5 Years Of Owning A Tesla Model 3. Here's How

Name: You Can Save $15,000 On Gas In 5 Years Of Owning A Tesla Model 3. Here's How
Uploaded: 2023-11-29T20:41:56Z
Duration: 10 min 13 s
Description: This 2018 Tesla Model 3 with 136,000 miles has saved the owner an almost unbelievable $15,692 on gas costs.

If we factor in the cost of electricity to charge the car, the owner still saved over $11,000.

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10:13

Eric Loveday

By: Eric Loveday

Nov 29, 2023 at 3:41pm ET

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This 2018 Tesla Model 3 with 136,000 miles has saved the owner an almost unbelievable $15,692 on gas costs.

Let that sink in for a moment.

Just how could that be possible, you ask? Well, let's jump to the calculated conclusion, and then we'll go back to explaining the details.

YouTuber, influencer, and Tesla owner Andy Slye explains that if we compare the costs associated with operating his 2018 Tesla Model 3 for five years and 136,000 miles, then he says:

If we compare that [his Model 3 operating costs] to the fastest Toyota Camry model from the same year which averages 26 miles per gallon, the total gas cost to travel 136,000 miles at an average gas price of $3 per gallon would be $15,692.

$15,692 is not chump change. That's a saving of around $3,000 per year but we need to take into account the cost to charge the Tesla over that 5-year period. Slye says that he spent a total of $4,573 to charge his EV at home and on the road. Simple math reveals that Slye saved $11,119 over 5 years.

In the video, Slye explains that over the 5 years of owning his Tesla, 94 percent of charging occurred at home with the remaining 6 percent on the road. He breaks down more of the specifics regarding his charging costs in the video but we've also included some of his graphics to help sort it all out.

And here's a look at his at-home electricity prices:

Slye goes on to say that at 136,000 miles, his 5-year-old Tesla basically has the same mileage as a typical 10-year-old car since the average U.S. driver now drives around 13,500 miles per year.

And in regards to battery health and future additional savings, Slye adds:

Maybe best of all, my battery health is at 95% and is still going strong after all these miles so if I indeed hit my goal of 10 years of ownership, that could be $22,000 in gas savings alone which is incredible.

Tesla Battery Health

Uber Driver's Tesla Model 3 Battery Dies After 120,000 Miles In 15 Months

This Tesla Model 3 Still Has 95% Battery Capacity After 135K Miles. Here’s Why

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Lastly, we'll point out that Slye paid quite a bit more for his Model 3 than new buyers would today. Here's his Model 3 order info:

Nowadays, you can get a Model 3 for approximately $33,000 after the $7,500 tax credit, which is actually cheaper than a comparable Toyota Corolla and even a Camry, the vehicle Slye uses for comparison purposes in the video.

More Ownership Info

Tesla Prices Fall Below Average US Car Costs, Model 3 On Par With Toyota Corolla

2018 Tesla Model 3: Total Cost Of Ownership After Five Years And 70,000 Miles

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