what are the benefits of owning a tesla

Reasons Why Owning a Tesla Is a Benefit

• No Gas, Ever. As Tesla’s are electric vehicles, this means that you are exempt from buying gas. ...
• Drive The Safest Car on the Road. Teslas are engineered with safety explicitly in mind. ...
• Less Maintenance. ...
• Resell-Ability. ...

Full Answer

How much it actually costs to own a Tesla?

With the OMV, up to 60% can be paid through a loan therefore the estimated upfront cost for Tesla Model 3 at purchase will be 40% of $73,000 = $29,200. Balance of $43,800 to be paid via monthly installments (loan) indicated in Part 2.

How to convince someone to buy a Tesla?

• Don't tell your wife that you asked for help to convince her on the Tesla Motor Club.
• Buy what makes sense for your family.
• Don't try to convince her before the car is available for a test drive.
• As prices aren't available yet for the Model 3, it seems premature to discuss affordability.

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Why not to buy a Tesla?

Tesla (TSLA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock ...

What's the best reason to buy a Tesla?

Good Reasons to Buy a Tesla

• Tesla is good for the environment. ...
• They're insanely safe. ...
• They can go the distance between charges-and definitely are capable of long commutes. ...
• Tesla ownership means you will pay way less at the pump every month. ...
• It'd be a lie to say that Teslas aren't status symbols. ...
• They're roomy and have amenities galore. ...

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What is the downside of owning a Tesla?

The Purchase Price The primary disadvantage of Tesla vehicles is their cost. It's not cheap. Elon Musk recognizes this, which is why he vowed to unveil a $25,000 Tesla car in three years. The cheapest Tesla is the $38,000 Standard Range Plus Model 3 with a range of 250 miles (402 km).

Is getting a Tesla a Good Investment?

Using this forecast to model revenue growth and keeping Tesla's 17.7% profit margin, Tesla could have $14.9 billion in earnings at the end of 2022. This means Tesla trades for 49.5 times full-year 2022 earnings, not a bad valuation for a company that expects to grow around 50% annually over the next few years.

Does owning a Tesla raise your electric bill?

Across all Tesla products, the average charging cost per mile is 4.56 cents per mile. So, if you only charge your Tesla at home, you can expect your electricity bill to increase by about $50 each month.

Do you get money for owning a Tesla?

California. California gives $2,000 to $4,500 in rebates for buying a Tesla Model 3 and Model Y, depending on your income. The $1,500 California Clean Fuel Reward is available for anyone who registers a new electric vehicle in the state. 1.

How long will a Tesla last?

If you don't mind driving around with a slightly under-performing battery, then you can expect to keep the same battery for anywhere from 300,000 to 500,000 miles, according to Elon Musk on Twitter.

How much does it cost to charge a Tesla per month?

Electricity pricing trends can also impact price – and those prices can vary from by electricity company. On average, the cost to charge a Tesla per month in the US is around $49.

Are charging stations free for Tesla?

Tesla owners that bought their car new prior to 2017 do get complete access to the Supercharger network for free. Yet, for the majority of motorists that bought their cars more recently, they will need to pay out each time they plug in at one of the many Superchargers.

How much does a Tesla increase your insurance?

Tesla's own insurance rates are substantially cheaper than competing insurers. We found a typical rate of $2,030 per year across all new Tesla models — that's 49% less than the average rate we found.

Is it cheaper to charge Tesla at home or at supercharger?

In almost all cases, charging your Tesla at home is going to save you the most money, since Superchargers tend to bill at a higher rate per-kWh than your utility does. Depending on the model you have, it will cost between $7.65 to $15.29 to completely charge your Tesla at home.

How long does it take for a Tesla to pay itself off?

For the person who drives 12000 miles per year this is 51 years. If you did 100% free supercharging then this drops to 466667 miles. In my case this works out to 23 years of driving and the car has completely paid for itself.

How do people afford Teslas?

You can cut the cost of a Tesla with the help of a company called Turo. Turo is the world's largest car-sharing marketplace. You can rent out your Tesla for nine days or more each month and make over $1,000 – enough to cover most, if not all, of your monthly car payment.

How much does it cost to fully charge a Tesla?

If you purchase the 2021 Standard Range Model 3, you can expect to pay about $7.65 to fully charge the battery. That brings the cost per mile to about $0.03, or $2.91 per 100 miles. To completely charge the 2021 Long Range and Performance models, it would cost $12.54.

The Benefits Of Tesla Ownership

Shaw is a YouTuber with a passion for tech and Teslas. His current ride is a Model Y that he’s owned for close to two years. His own experience is well documented, and given the length of time that he’s kept the car in his garage, he has a good handle on the good, the bad, and the ugly of owning a Tesla.

ICE vs. EV and the battle for the future of the car

Ryan Shaw points out many benefits of EV ownership, but some of those can also apply to traditional vehicles thanks to modern safety, emission, and technological advancements. Regardless of what the future holds for the car, there will always be a place for the enthusiast.

No Gas, Ever

As Tesla’s are electric vehicles, this means that you are exempt from buying gas. In most areas, electricity is a lot cheaper than gas, meaning that your costs will go down overall after owning this vehicle.

Drive The Safest Car on the Road

Teslas are engineered with safety explicitly in mind. There has been numerous technological advancements with the Tesla’s, as they have incorporated technology such as lane assist. There is even technology that is designed to reduce damage to the car if an accident were to take place.

Less Maintenance

Because it has fewer moving parts than a gas-powered vehicle (not to mention no engine), there are very low maintenance costs associated with owning a Tesla.

Resell-Ability

Because of the way that Tesla has been marketed as a green, cheaper (in the long run) alternative to gas-powered cars, there will always be a market for Tesla cars. This means that if your Tesla still functions, there will always be someone looking to buy it.

How much does a Tesla cost in 2021?

Tesla's are popular, but expensive electric vehicles, starting at at around $82,000 for a 2021 base Model S. Owning a Tesla, however, can be affordable as there is no need for gas or oil changes. Some Tesla owners can further benefit from electric vehicle tax breaks and lower ongoing maintenance costs.

How much does it cost to drive a Tesla Model S 15,000 miles?

With 100 miles using 34kWh (about 100 MPG) and electricity costing an average of $0.12/kWh, the yearly cost to drive a Tesla Model S 15,000 miles is $612. Compare that to Toyota (TM) Camry’s 30 MPG and an average cost of gas of $2.40 per gallon.

How long is the Tesla Model S battery good for?

The battery is guaranteed for eight years with unlimited miles. The vehicle itself comes with a limited warranty and $600 yearly inspections are optional. All Model S cars financed through Tesla come with the option to sell the car back to Tesla at a fixed price at the end of the term.

What is the most popular Tesla model?

Tesla’s Model S is its most popular model, and it comes with a few options. In America, consumers have three choices of Model S that vary based on the number of motors and battery power. If you're interested specifically in the popular Model S, here's a closer look at how much you can expect to pay to purchase and own one.

Which states have tax credits on Teslas?

While the federal tax credit has been phased out for Teslas, California, Colorado, Georgia, Massachusetts, and Utah offer state tax incentives to help offset the cost of buying one.

How much does it cost to replace a Tesla battery?

While it's unlikely that you may need to do so given how long they last, be aware that the cost of replacing a Tesla battery for a Model S can run anywhere from $3,000 to $7,000.

What are the pros and cons of Tesla?

The cons of Tesla cars are its price, high repair cost, longer repair time, lack of service center, build quality, lackluster interior, low towing capability, and battery degradations. Learning about all the advantages and drawbacks of owning a Tesla will make you an informed buyer. Let’s elaborate.

What happens if you leave your Tesla for 2 months?

For example, if you leave your car for 2 months, the battery will discharge 60%. If your battery discharges to 0%, it could damage onboard electronics. Moreover, the lithium-ion battery recharges the onboard 12V battery. If the 12V battery becomes dead, you won’t be able to unlock your Tesla.

How much does a Tesla battery drain?

Tesla owners call it the Phantom battery drain. According to the Tesla owners manual, every Tesla battery discharges at a 1% rate per day. So, if you intend to park your vehicle at an airport, you need to keep this in mind. For example, if you leave your car for 2 months, the battery will discharge 60%.

Why do Tesla tires wear out?

Tesla’s are heavy vehicles. It also has a very high torque compared to a gasoline vehicle. It is why tires in Tesla wear out fast. So, if you own Tesla , you need to change tires more frequently, increasing your ownership cost.

What happens if you get in an accident on a Tesla?

Sometimes, it is entirely the other driver’s fault. If you get into an accident in your Tesla, the repair cost would be substantial, even for a minor repair. For example, a simple dent would cost you around $7,000. If you get sideswiped in your Model S, the bill could go up to $50,000. No, we are not exaggerating. Here is a list of repair costs other Tesla owners encountered after an accident.

How long does it take to return a Tesla?

Tesla has a 7-day return policy, where you can return your newly purchased Tesla vehicle for a full refund. You can read more about the return policy here – https://www.tesla.com/support/tesla-return-policy

What is valet mode on Tesla?

Valet Mode: Using the valet mode, you can restrict access to your car by hiding all personal data from your touchscreen, limiting the maximum speed and performance of your Tesla, and locking your front trunk and glove compartment.

How many moving parts are there in a Tesla Model S?

The Maintenance of these cars are very limited. There are only around 57 moving parts on a Tesla Model S. That means there are fewer things that can go wrong with it over time. Saves you Money!

How long does it take to charge a Tesla Model S?

Fast-charging capability – It only takes about 30-45 minutes to charge a Tesla Model S or X. That’s faster than the average charging time of a mobile phone and yet it will power the car for the next 170-300 plus miles before the next charge.

When did Elon Musk introduce the Tesla Roadster?

In a world dominated by speed, internal combustion engines, diesel, and gasoline-powered engines, Elon Musk had managed to break into the automotive industry when he introduced the Tesla Roadster back in 2008.

Can you discount Tesla?

In terms of speed, you cannot discount Tesla cars. The drive train layout of electric cars is basically 1 motor for every single wheel (in an all wheel Drive) so they can perform individually. Hence, high top speed and quick acceleration time can be easily achieved.

Is electric car battery range efficient?

The battery range is virtually far more efficient than you can ever imagine. Since electric cars have big battery packs installed inside their frames, the efficiency of the battery and distance the car can travel is all dependent on the size of the battery installed at vehicle inception. The Money saved is significant!

Will Tesla make more lithium ion batteries?

Breaking records in battery manufacturing – By the year 2020, Tesla’s Gigafactor y will be able to manufacture more lithium-ion cell batteries than the whole world’s production of the same product.

Does Tesla have driverless assist?

Driverless assist – Tesla has already implemented the use of driverless technology this year and it continues to push its boundaries to achieve more technological advancements in the automobile industry.

Why do people drive Teslas?

Another great reason why so many people go for Tesla cars is the simple fact that these vehicles are electric. Electricity is much cheaper in comparison with gas. Not only that you’ll save money by driving a Tesla, but you’re also doing your part in protecting the planet.

What is Tesla's safety system?

There are numerous safety systems installed on a Tesla ( such as lane assist, etc) car and these are continuously updated and improved.

How fast can a Tesla go?

There’s no slow Tesla car out there. In fact, some models can accelerate from 0 to 60 miles per hour in less than 3 seconds. That’s the beauty of an electric engine which has only one job — to go forward and as fast as possible!

Why is it better to have an electric car or gas car?

An electric car requires much less maintenance in comparison with a gas car, so you can save a great deal of money over the year. On top of that, you also save time because you don’t have to schedule repair sessions in auto repair shops.

Can a Tesla drive on a highway?

Most Tesla cars can drive on the majority of US highways completely unassisted. All that you have to do is to sit back, relax, and enjoy your ride. Your attention might be required on some portions of the highway, but having the automatic pilot do the bulk of the driving job for you is a blessing for most people.

Is there a market for Tesla cars?

The advantage is that there will always be a market for Tesla cars. Just as you are interested in buying a used Tesla, someone else might be interested in buying it from you in a few years. Since Tesla vehicles are so popular, you can sell it quickly and get a lot of money back.

Can I get a loan for a used Tesla?

You can either get a bank loan or trade-in your old car to cover a portion of the cost. In any case, you can save a great deal of money if you decide to go for a used Tesla instead of a brand new one and this is one of the main reasons why people do it. 2. Drive A Modern and Safe Car.

What is the name of the Tesla factory in Texas?

Over in Texas, Area Development Magazine has named Tesla's Gigafactory Texas "Man ufacturing Project of the Year." Texas Governor Greg Abbott tweeted that Tesla's Gigafactory was named the Manufacturing Project of the Year alongside the state

Why is the Model 3 so safe?

There are many reasons why the Model 3 is so safe in the event of an accident. Additionally, though, the car is extremely good at helping you avoid accidents.

Can you use referral code on Tesla?

You can also get a $250 discount on Tesla solar with that code. There is currently no use for a referral code when putting down a reservation for a Cybertruck or Model Y .

Does Tesla have cabin overheat protection?

There’s a “cabin overheat protection” feature in the Tesla that makes sure the temperature inside the car doesn’t get too hot when you’re away from it. This may not seem like a big issue … unless you live in Florida. If you live in Florida or someplace with a similar climate, you know how quickly your car can turn into a giant oven. It’s not fun. Opening the doors and having the heat light your hair on fire is not one of the top retirement attractions of the Sun Belt. With Tesla’s cabin overheat protection, you never have to worry about that. The car does it for you. It provides a significant boost to quality of life.

How much does it cost to insure a Tesla?

How much car insurance you want will also impact your insurance premiums, but according to some estimates, the average cost to insure a Tesla Model S is $2,220 per year , whereas insurance for a new Toyota Camry only comes out to $1,432 per year.

How much maintenance does a Tesla Model S cost?

On the other hand, Motor1 estimates that five years of maintenance on a Tesla Model S will run you $1,490, an average of $298 per year. While this annual savings is significant, it’s important to note that Tesla's aren’t entirely immune to car troubles.

How much does a Tesla cost per mile?

If you own a less fuel-efficient vehicle, then you’d be spending even more. On the other hand, the Tesla Model S has an electric charge cost of $0.037 per mile (which is roughly the cost you’d pay to charge your Tesla at home), which puts you at $555 to drive the same distance of 15,000 miles. So, yes, the fuel savings with a Tesla is significant.

How much does a Tesla Model 3 cost?

The Tesla Model 3, which is the company’s most affordable vehicle, starts at $37,490, followed by the Model Y (starting at $49,990) and the Model S (starting at $79,990). There’s also the top-of-the-line Model X, which will set you back a whopping $91,190. While many sources claim the Model 3 to be the world’s most popular electric vehicle, ...

How much does an electric car depreciate?

According to the automotive search engine ISeeCars.com, which analyzed the sales of off-lease cars, the average new sedan (with either electric or internal combustion engines) depreciates by 39% in the first three years, while electric vehicles depreciate at a rate of 52% in three years.

Does Tesla have insurance?

In addition, some insurance companies classify Teslas as luxury vehicles and charge high insurance premiums for that reason as well. Tesla has launched its own insurance coverage that claims to offer lower premiums than mainstream insurers, but it is only available in California at this time.

When will Tesla tax credits end?

The federal tax credit for Tesla used to be impressive, but that big $7,500 tax credit was phased out for Tesla buyers as of January 1, 2020, leaving buyers with only the tax credits being offered by their state.

How many miles does a Tesla get on a full charge?

Currently, the Tesla with the highest range is the Model S Long Range, which gets over 405 miles of driving on a full charge. But it’s also one of the most expensive Teslas, at $79,990 – that’s about twice the price of the Model 3 Standard Range, which gets 263 miles per charge.

How much does a Tesla Model 3 cost?

According to Tesla’s own figures, the total cost of a new Tesla Model 3 is $39,990, plus $1,200 in delivery fees, for a total of $41,190 due at signing. Unless you’ve been saving up for a Tesla in advance, chances are you’ll take out a loan or a lease instead. Tesla estimates that a 72-month loan term with a down payment ...

What to consider before leasing an EV?

Mileage Limits. Another thing that’s important to consider before leasing an EV is how much you’ll be driving it. Leased vehicles have an annual mileage limit, and you can expect to pay hefty fees if you go over it or put too much wear and tear on the vehicle.

How much does an electric car lose in 5 years?

Some electric vehicles, such as the Nissan LEAF, can lose as much as 80 percent of their value in five years, making it a better deal to buy a used LEAF than a new one.

What is the tax credit for electric cars?

The electric car tax credit — officially known as the Qualified Plug-In Electric Drive Motor Vehicle Credit — is a federal income tax credit that can help to offset the purchase price of a new EV. Eligible taxpayers can claim as much as $7,500 on their tax return.

Is Tesla eligible for tax credit?

Unfortunately, Teslas aren’t currently eligible for the tax credit. That’s because the credit is phased out after a certain number of cars are produced by each manufacturer. Tesla has already maxed out its quota, so you’ll have to wait for the EV tax credit to be re-introduced or extended before you can make use of it. Lease vs. Buy: Neither.

No Gas, Ever

Drive The Safest Car on The Road

Less Maintenance

Resell-Ability

• Because of the way that Tesla has been marketed as a green, cheaper (in the long run) alternative to gas-powered cars, there will always be a market for Tesla cars. This means that if your Tesla still functions, there will always be someone looking to buy it. This can take the stress out of such a large investment, as you will get a significant por...

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