Teslanomics Breaks Down Yearly Cost For Tesla Model S – Video

5 days ago by Steven Loveday 29

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.

Tesla Model S

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

Tesla Model S

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 –

https://docs.google.com/spreadsheets/…

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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29 responses to "Teslanomics Breaks Down Yearly Cost For Tesla Model S – Video"

  1. CarGuy says:

    I would really like to see a compare with a BMW, Audi, MB, and Lexus, if people still buy them. I remember when working at a Lexus dealer the 15k check up was $2.5k. Crazy but I sure the German cars are comparable.

  2. CarGuy says:

    It would not be helpful to compare with a Chevy,Honda,Ford,or Toyota. Their maintainence costs will be much less.

    1. ffbj says:

      Someone did that and just as you suggest the Honda Civic was cheaper and the Mercedes was more.

  3. DJ says:

    I should hope any car incurs not much cost for maintenance or repairs over the first two years…

    I don’t see how when the payments are $28k or so he comes up with an over cost at $23k. You don’t get to deduct depreciation or whatever from the cost.

    1. Ken says:

      Yeah, I was wondering the same thing. Maybe 23K per year? All to Fuel Savings $1,090.17. When they become more price competitive then will start looking. Now I am tied to my cheap hybrid.

    2. ffbj says:

      He’s not, he’s doing the opposite of what you say. He lists depreciation as a cost. $18k less for the car after 2 years.
      He bought it used, it was 3 years old already so it was year 4 and 5, so your first point is moot.

    3. Steve says:

      This is Tesla math, can’t make it cost more than an ICE or one of the main financial arguments goes out the window.

      $725 in maintenance over two years is very high for a new vehicle.

      Also of note, they mention how the solar installation impacted his fuel savings but don’t factor that into the expense.

      Tesla math.

      1. Mark.ca says:

        5 yeat old car….can’t read?

        1. Steve says:

          “t’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

          Can’t read?

        2. vin says:

          I can read, I think. I thought it was new too. No mention in this article that it’s used. Had to watch the video to figure that one out. Picture of a Model S with the restyled bumper that is unrelated to the article doesn’t help.

          What’s I find interesting is that only one year of maintenance was paid over the two year period. His next annual maintenance should be $475, correct?. Wonder why that wasn’t included.

        3. mike w says:

          Not in the article but he mentions it first thing in the attached video. No reading comprehension needed.

      2. Mark.ca says:

        Why sould he factor in solar when that expense is fully paid by the household electric savings? I’m using exes electrons to fuel my ev same as he probably does.

        1. Steve says:

          It should be factored in because he had to shell something out for it. And we don’t really know what his setup is cause it’s not really explained.

          1. Mark.ca says:

            If you want to go that way then you will need to adjust down the payout for the pv…one way or another the savings get materialized.
            In my case, about 25% of pv production goes to ev charging. For me that translates to 3 years of filling up a 30mpg gas car. What you have to consider is that this is an initial cost that is not recurring. After 3 years you keep getting free fuel for any ev you may have. If i keep driving ev for the next 25 years i would have to spread that 3 year cost to the entire period in order to get an accurate estimate of the fuel cost. In my case that translates to about $100/year. Again, this has nothing to do with Tesla, is just how pv and ev pair works.

  4. Mike says:

    Would love to own a Tesla, but in my blue collar world a new Volt is all I can afford. I’m figuring my total cost for a ’17 premier with a 30 mile a day commute is about $450. Highly recommended for those who can’t afford triple. Really that simple I think.

  5. Mark.ca says:

    I don’t get why the insurance costs are so low…maybe very high deductible? My ’13 Lexus ES 300h costs $1500 to insure at $1k deductible and 12k miles.
    Duh, of course solar makes a huge difference. I’m saving $1200/year on fuel costs alone not to mention the electric costs. This year i plan on switching the Lexus for a second ev and that will put the savings north of $4k/year. Such of a nobrainer here in SoCal!

    1. Pushmi-Pullyu says:

      If he bought the car used, that may be part of why insurance costs are lower than expected.

      Another question is: Where does he live? If he lives outside any major metro area, then his costs for insurance are quite likely significantly lower than yours.

      1. Mark.ca says:

        He’s in San Diego, he is younger and his S is more expensive than my Lexus. I will have to ask my insurer how much an S would cost me…i have a hunch it will be cheaper which will not make any sense.

  6. georgeS says:

    That’s right kiddies owning a Tesla ain’t cheap. Just the depreciation pencils at roughly 1000$/month. Then you have to factor in it’s a Tesla so it will have to go to the service center a lot. Oh and don’t forget the tires….they are expensive and don’t last too long.

    Still want one?

    Well do you punk. (Clint Eastwood quote ha ha)

    1. john says:

      no ! im practical, my kia soul ev lease i drive it and im almost at zero cost. 15,000
      miles a yr. dont need range if i do i ice it. which i rarely do. wud never buy one. lease da only way i do it now. $ 1,300 for tires ! UR SOMEBODY !!!! LOL

    2. David Cary says:

      Hmm. Just hit 50k miles and had my 2nd service visit [including ignored maintenance].

      On my second set of tires. First lasted 35k. Cost about $1200 with everything. Did spend $900 on the 4 year service.

      Not bad IMO.

      And time wise better than any ICE or Hybrid car on the market. Even my Leaf has been in 4 times in 50k miles. 2 were stupid but free battery checks. Time to replace the 2nd pair of tires on that one.

  7. lichen says:

    I bought three months ago my first car: 18 year old Nissan Almera for 900€. It has already 330000km on it.

    My obligatory insurance is 300e / year.
    Yearly emission based taxes are 290e / year.

    I bought new winter tires for 320€ (installation included).

    I’ve made ethanol conversion for 430€. This cuts CO2 emissions by 70%. E85 is made from waste and is much cheaper too.

    In three months I’ve had to do some maintenance for 200e.

    And I’ve been thinking “damn, this car ownership is ridiculously expensive”.

    1. Mark.ca says:

      Give it time, you will see real maintenance costs….and pray your 18 year old junk can save you in case of a bad accident. It’s much more than co2 and $ that we should talk about.

      1. lichen says:

        And I forgot to mention Nissan has a tow hitch.

        1. Mark.ca says:

          Stop the press! That changes everything!

    2. Nick says:

      Sounds like a killer deal.

      > This cuts CO2 emissions by 70%. E85 is made from waste and is much cheaper too.

      Be careful that you don’t drink your own Kool aid. I highly suspect that switching the automated fleet to E85 would not solve our emissions problems.

      It’s very easy for the accounting on ethanol to turn upside down. You’re very likely to be emitting much more carbon than you think.

  8. wavelet says:

    ROFL. Sorry, but this is idiotic and shouldn’t have been posted.

    The biggest line item by far is depreciation.
    How exactly does Sullins know how much a Model 3 will depreciate over two years, when they’ve only been sold to the general public for a week or two? (I fully expect the earlier employee vehicles to be worth less)

    1. Doggydogworld says:

      Model 3?

      1. William says:

        He must have missed something pretty darn easy to spot, in the above Teslanomics article.

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