TESLA Model 3 TRUE Cost of Ownership Compared with a Honda Civic & BMW 3 Series

  • Published on Nov 17, 2017
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    The Tesla Model 3 is upon us, and it’s already being heralded by many as the most important car in decades.
    Cost Calculator: geni.us/Model3CostCalc
    But whether you’re one of the nearly half a million people who have already given Tesla a $1000 deposit, or someone who is wondering if it just makes financial sense, this video is for you.
    At $35,000 dollars, the Model 3 is the most affordable Tesla to date. And with its 220 mile range, 126 MPGe, and 0-60 time of 5.5 seconds, it’s proving to be quite the little EV that could.
    Very enticing indeed.
    But the primary question remains: What is the TRUE Cost of Owning a Tesla Model Three?
    While the question is simple, the answer is not.
    The devil is always in the details, and so we will take a look at a couple of other popular gas powered cars for comparison, and look at Total Cost of Ownership over 5 years.
    We will also explain the ugly truth about MPGe, and tell you what we think is a better measurement.
    And if you’re counting on the $7,500 Federal Tax Credit, we’ll talk about why you may not even qualify for it.
    Lastly, we will provide you with some cost calculators to help you reach an educated conclusion, based on your specific situation, because where you live & how you drive, really does affect your bottom line.
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    Chris & Ricky
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Comments • 7 046

  • Two Bit da Vinci
    Two Bit da Vinci  Year ago +26

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  • Barry Manclark
    Barry Manclark 2 days ago

    This guy is a snake oil salesman! Total BS Didn't even include battery degradation!

  • Tim Dawg
    Tim Dawg 3 days ago

    Insurance is a bitch for Tesla too much

  • Bob D
    Bob D 4 days ago

    Over $400 for wiper blades, that doesn’t make any sense and based on the comments it’s a complete lie. Sounds like a Honda advertisements. And dislike.

  • Konqueror 1
    Konqueror 1 4 days ago

    If anyone is curious for an update read the Tesla forum board. Apparently people are paying $3k for an A/C replacement already!!!! $1500 for door fix. Completely wipes out any tax incentives and gasoline savings. Unacceptable, period!

  • Jim Taylor
    Jim Taylor 5 days ago

    Why dies tesla have so much maintenance? No oil, filter etc

    • Konqueror 1
      Konqueror 1 4 days ago

      I just agree with you as I thought there would be less maintenance switching to EV. I can fix just about anything on my Tacoma myself but I'm getting kinda tired of it. Thought this Tesla was a game changer and no more engine, oil, filters, sensors, gaskets, chains, belts etc. Apparently this is not the case.

    • Konqueror 1
      Konqueror 1 4 days ago

      @Jim Taylor I haven't had any problems. I'm not an owner. I'm just reading about other people's problems who own a Tesla. I was moments away from purchasing one but put it on hold while all the kinks are worked out. I'm just lurking on the Tesla forum and seeing many issues arising. I'm worried about after warranty.

    • Jim Taylor
      Jim Taylor 4 days ago

      @Konqueror 1 what problems did you have?

    • Konqueror 1
      Konqueror 1 4 days ago

      I solely wanted to switch to Tesla thinking it had less headaches and no more seeing a mechanic. Boy was I wrong. Even gave the wrong info out to people no more engine, no more problems. 100% wrong! Elon needs to fix this somehow or double the warranty period to 15 years. Now THAT would be a game-changer!

  • Aqal Mand
    Aqal Mand 5 days ago

    Tesla for 35k. And 3 series for 44k. ???? Are you 🥜. Tesla that one actually buys is close to 48k. Plus tax.
    I am comparing the prices right now and that is what I am seeing. To be fair. Both cost same with options you want.
    However I am comparing model 3 used vs 3 series used. And model 3 used is pretty much not an sane option yet. So what do I compare. ? It is used 2 to 3 years used 3 series. Vs new model 3
    $33k BMW vs $47k Tesla. Now you do the math. What makes sense
    By the way driving pleasure of BMW is still unmatched. And very thing which is negative for bummer. I.e the depreciation. Is actually makes it the great option. I am seeing 3 years old only 20 k miles 330e hybrid BMW with good options for $25k. That is Half the price of new Tesla.and it does average close to 30 miles per gallon. Now do the math. I have about $25 k in my locked for extra expenses. And bummer drive still incredible.

  • Joe mariconadas
    Joe mariconadas 5 days ago

    GREAT ANALISYS BUT ONE IMPORTANT DETAIL. Tesla costs a fortune to repair once the warranty is over. 1,000 for a door handle plus labor. This video assumes nothing major happens to any of those cars, but if it does, pray it doesn't happen to your Tesla.

  • John Francis
    John Francis 10 days ago +3

    have you incorporated the cost of battery degradation in to the Tesla?

  • ahmad azadzoi
    ahmad azadzoi 15 days ago +1

    Bmw maintaince cost is free for first 4 years and 50k miles...

  • Azli Aziz
    Azli Aziz 16 days ago +2

    TESLA is an Car Electric Motor SPECIALIST.
    TESLA is NOT a car chasis OR a Battery manufacturer❗️
    TESLA will be a lame duck in the water Once OTHER car manufacturer goes FULLY Electric❗️

  • jsideproject
    jsideproject 16 days ago +2

    I average about 60 MPG in corolla hybrid

  • Mike Barnes
    Mike Barnes 17 days ago +1

    Don't forget in most states EV's can drive in the HOV lane anytime! In Az the car is considered an AF (alternative fuel) vehicle and the registration cost and tax is only $500 for 5 years! ($100 yr) . If you know how you can install your own 50A outlet for less than $50. (Depends of course on whether or not you have breaker space and how far the panel is from where the outlet will be). Don't forget also that unless you are on a long trip with the Tesla, you NEVER have to stop for gas. Never have to get your oil changed. I could go on...

  • Clive Flint
    Clive Flint 17 days ago

    Key fob replacement? Wtf?

  • fluffinstien
    fluffinstien 19 days ago +2

    This is WAY off on the costs.. However understand that they have 2 year old data here. So for the time and understanding of the car this is accurate.. It just hasnt been updated for todays real numbers.

  • bigbangnone
    bigbangnone 19 days ago

    You forgot to factor in all the time waiting around and inconvenience of charging the Tesla. And all the trip plans that will not work with Tesla. And it is likely that the maintenance projections for the Tesla are not accurate.

  • IndieRus
    IndieRus 20 days ago +21

    You are liyng about the Tesla service costs! It not even required during first year and second year is only tire rotation and cabin filter replacement!

  • Wayne McCance
    Wayne McCance 21 day ago +1

    Interesting review but no mention of the cost of replacing a Tesla battery after the 5 years ? How is this factored in ?

  • CR Rains
    CR Rains 25 days ago

    I did not see insurance costs...were they there? I did not see any TVM-time value to money either?? What about reduced range as lithium batteries age? Fast charging my save time but reduces battery use life ...how many hours of sitting in charging stations as compared to service station refueling? We drive pickups here on the ranch, any Tesla trucks beside the big one?

  • David Ellis
    David Ellis 25 days ago

    I notice how comparable these three cars are, the Honda is probably a 1-6 litre Petrol, the BMW is a six cylinder three litre Petrol so where's the comparison, not a diesel in sight, both the Honda and the BMW offer diesels in those models, 1-6 for the Honda and 2ltr for the BMW, now that really would have been a fair comparison. Road fuel is heavily taxed in the UK with fuel tax and the VAT on top of that which is tax on tax where electricity just has 5 per cent VAT which makes a massive disadvantage to petrol and diesel vehicles against electric, on top of all that tax on fuel there's the sweetener given to electric vehicle purchasers which effectively means no VAT on the electric car. Taking all these disadvantages into consideration it's no wonder the EV comes out on top, take the fuel tax and VAT of fuel and put the VAT back on the electric car and then compare the running and depreciation costs when on a level playing field with each other. The electric vehicle won't look that good then, once again were being conned into believing that running an electric car is the cheapest like they did convincing Diesel buyers before and now their public enemy No.1. All political properganda and bullshit again.

  • Aaron
    Aaron 27 days ago

    For many it has to be compared to a car that is owned outright, no car payments.

  • Loren Zell
    Loren Zell 27 days ago

    What you didnt factor in was the inconvenience of waiting for it to charge, and shorter range in below freezing temp. The tesla isnt such a good choice in cold climates.

  • The Snookman
    The Snookman Month ago

    This is all irrelevant. What I need to know is which cars' seats can soak up the most farts?;)

  • Joseba Txap
    Joseba Txap Month ago

    is insurance cost relevant?

  • sp277
    sp277 Month ago +1

    Great video. Thank you.
    I know that it is difficult to know the Tesla real depreciation. But, would it be higher or lower than a gasoline car?

  • karolis antanaitis
    karolis antanaitis Month ago +2

    It's not accurate.!!!
    Try cars which make 0-60 in 5.5s.That is reason why everybody loves Tesla!!!!

  • Jumbomuffin13
    Jumbomuffin13 Month ago

    *Idiots: “Electric powered car help the planet!” *
    It bloody makes it worst since there are still oil, and fossil companies that use those materials to generate electricity.

  • Creativeaccount0
    Creativeaccount0 Month ago

    Ok, so you never talked about how long the Tesla's battery will last. I'm not an expert, but the tech is basically the same as the battery in my cell phone and the cell phone's battery is basically worthless after 5 years. After the first year its total battery life is reduced about a third. Even if the Tesla is particularly well made compared to (for example) whoever makes the batteries for Apple, they will still lose power over time and eventually need to be replaced. A $6,700 repair bill all at once, certainly within the first seven years, skews your calculations a bit.

  • plcmtny
    plcmtny Month ago

    Any Tesla Model S comparisons?

  • Jorrgii
    Jorrgii Month ago

    So should Tesla 3 be my first car?

  • singel Lama mama
    singel Lama mama Month ago

    Thumbs down

  • singel Lama mama
    singel Lama mama Month ago

    I would like to say this my uncle owns a tesla and NO PROBLEMS its one of the first teslas

  • Life with D&T
    Life with D&T Month ago

    So dope thank you for your advice

  • Charles Coaston
    Charles Coaston Month ago

    You didn't account for scheduled maintenance for each car. The BMW should have had at least the oil change and other check-ups for the first 3 years

  • NM Thompson
    NM Thompson Month ago

    Sorry but if you buy a new civic the warranty is 5yr/60k miles. Most oil changes can be done twice a year. Theres no way maint cost 4k over 5 years on a civic. Nice try though.

  • Ed Paez
    Ed Paez Month ago

    but the tesla wont be purchased at 35K. Most people will spend at least 50K with auto pilot and other extras

  • Dba CFO
    Dba CFO Month ago

    lol a tesla for 15k in 5 years lmao yea ok at least 28k lowest and there is no maintenance until 2- 3 year point

  • Commando Master
    Commando Master Month ago +1

    Nobody is buying Model 3 for 35k. There are so many options that easily bring the car up to 50k with autonomous features, etc.

  • Jason Berger
    Jason Berger Month ago

    If you add one more year of ownership to each car, the Tesla will really show difference in Cost To Own. At 60 years, it will push mileage beyond 90k, which means that the Honda and BMW will require major maintenance including timing belts. Every car I have owned required a 90k maintenance that cost about $1500. The Tesla will not have this large maintenance cost.

  • TheEtbetween
    TheEtbetween Month ago

    I had an all electric vehicle, nissian leaf. For years. where do you get $400 plus for maintenance of electric vehicle. My maintenance for 3 years was only $300. This is not a honest review, no wipes cost $300.

  • John Cameron
    John Cameron Month ago

    Don't watch this video. This guy is bias against Tesla. His reasoning is ridiculous. You will first notice this when he sais the first year of ownership for a Tesla is $475 for wiper blades and key fob batteries. Lol. I didn't make it past that. He's a dumbass.

  • Oberdan Aguiar
    Oberdan Aguiar Month ago

    I don't really care but, I don't think the video is accurate...

  • Joseph Greer
    Joseph Greer Month ago

    Amazon prime has Tesla model 3 replacement wipers for under $19. Access cards cost $5 to replace and you can do it yourself in under 5 minutes. So...... 🤨😐🤔🤔

    • greersome
      greersome Month ago +1

      @Yann Roger Good point.

    • Yann Roger
      Yann Roger Month ago +1

      And access card in not maintenance, If you lose it. It can't be count in the maintenance. It's extra cost, exactly the same as if you lose your key... Except the keys cost must more.

  • ebttt
    ebttt Month ago +1

    Tesla $35,000 price tag is bait and switch. I would like to know what the percentage that people actually bought for 35k.

    • Monkey Mind
      Monkey Mind Month ago

      The resale value would depend on battery warranty
      And battery replacement cost

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  • Open mind Thruth
    Open mind Thruth Month ago

    I want a Tesla but looking what's coming out soon I think I'm going wait just a little bit. There is Rivian trucks and SUVs coming out 2020, There's Byton SUVs and luxury cars coming out 2020 plus Jaguar is coming out with more as well.

  • Phillip Moore
    Phillip Moore Month ago

    Not a chance a civic costs more than a Tesla in 1 year

  • John Buick
    John Buick Month ago

    Here it is 2019 and the Tesla maintenance numbers are all bullshit as is the resale value. Much less.

  • Dan Hammond
    Dan Hammond Month ago

    There is one more cost you left out and possibly another very hidden cost. The first most obvious is insurance. The model three insurance cost is so much higher than the civic cost that over 5 years of ownership the civic does come out cheaper to own than the Model three. The second hidden cost which will become obvious in about two or three more years is the resale value of the model three. The civic has a proven track record of resale value as the car does not significantly change over a 5 or 10 year period. The Model three however will change drastically over the next 5 years. Battery range will be significantly improved maybe double or triple what it is now. Self driving features will be available in the future which do not exist or maybe limited in the current model three. Other tech changes to the car may also drop the price significantly in the future. All of this will impact the resale value of the current model three in a very negative fashion. Perhaps even becoming near zero 5 years from now simply do to the tech improvements in EV cars over the next 5 years. I use computers as a tech example of how used tech loses value over time.

    • Dan Hammond
      Dan Hammond Month ago

      @Zeitgeister Computers depreciate when the next generation comes out for sale as no one wants the old tech. The same will happen to EV's. The next generation in EV's will be for example an improved battery pack. Maybe 1/2 the weight and 1/2 the charge time and double the range of the current battery. And or possible manufacturing improvements which drop the cost of the next generation significantly. Then you have the older model and want to sell it, who would want it if a new one was better and cheaper? Thus a faster depreciation than what has been predicted so far. And competition will drive the price down not up. It is all about the tech with these cars and the tech in them is all new. To stay ahead of the pack newer tech will have to be a constant on going thing. And to be honest the young crowd will eat that up. And no one wants old tech.

    • Zeitgeister
      Zeitgeister Month ago

      Teslas haven't been depreciating much...maybe computers are a bit different issue (more planned obsolecense maybe(?))

  • Moses Aguilar
    Moses Aguilar 2 months ago

    I love model 3 no pollution.

  • Ayman Ra Lionheart
    Ayman Ra Lionheart 2 months ago

    This is misleading?

  • James Duncan
    James Duncan 2 months ago +1

    Tesla needs to empower the small guy to work on these cars, that should drop the cost of service and insurance. Many of us can do our own service, but the access to the parts and software arnt there. These cars are starting to come off warranty now

  • Faust Sin
    Faust Sin 2 months ago

    This vid is very poorley done in terms of the costs

  • David Myers
    David Myers 2 months ago

    You did not mention battery life or the cost of replacement. It may not be possible actually to sell a five year old battery-powered car given this cost, which might be equivalent to replacing the motor on an ICE powered vehicle. Neither did you mention that for people who do more than commute, the range of the Tesla is a major issue.

  • David Bauer
    David Bauer 2 months ago +3

    What about the cost of replacing that battery in 6 years when it dies huh

    • Zachary King
      Zachary King Month ago +2

      8 year/150,000 mile battery warranty.
      Your good for 6 years I think

    • jcparkeranto
      jcparkeranto 2 months ago +3

      David Bauer it has an 8 year battery warranty!

  • Tomas T
    Tomas T 2 months ago

    Good video but you can't include the tax rebate + not so sure if it got to the 35k price yet.. ICE is winning still

    • Ariel Porchera
      Ariel Porchera 2 months ago

      Tomas T $35k is available by calling the store

  • Michael Sawyer
    Michael Sawyer 2 months ago

    At 100,000 miles the Tesla battery will need replacing and it will be expensive- still cheaper than all the things needing replacement in gas cars (timing belts etc).

  • Mrdirtblock - Minecraft
    Mrdirtblock - Minecraft 2 months ago +2

    Meanwhile in Australia:

    5c (U.S.) per KwH 10pm-6am) for electricity :D

  • Arnav Rawat
    Arnav Rawat 2 months ago +4

    There is a big slandering campaign going on. News channels like bloomberg and cnbc are just pushing straight up misinformation and distortions of tesla. To say they are biased would be a gross understatement, - they are actively and openly mud slinging.
    They're doing this because the companies that own them are oil based and tesla is probably giving them kidney stones with how fast it's threatening the oil business.

  • Scott Sloan
    Scott Sloan 2 months ago

    I disagree with your residual value of the 330 - MB and BMW are known to have some of the best residual values. How / where did you get the depreciation numbers.