FYI: Discover the low ownership costs of a 2018 Tesla Model 3 Long Range over a year, including charging and maintenance expenses.
Unveiling the Cost-Efficiency of a 2018 Tesla Model 3 Long Range
A 2018 Tesla Model 3 Long Range owner has shared insights into the costs associated with operating the electric vehicle over the past year. With the car clocking 132,000 miles and requiring a recent 12-volt battery replacement, the findings provide a comprehensive look at the financial implications of owning and driving this EV.
The Advantage of Home Charging
Electric vehicles, known for their cost-efficiency, become even more economical when you can charge them at home. Much like a smartphone, having a home charger ensures your EV is ready for every trip. But how significant are these savings in the real world?
Over the course of a year, from September 2023 to August 2024, the Tesla Model 3 Long Range covered 16,000 miles. The total expenditure on charging amounted to a mere $375. This calculates to approximately $0.023 per mile or $2.30 per 100 miles. To put it into perspective, this is four times less than what a comparable gas-powered vehicle, such as a BMW 3 Series with a 3.0-liter engine, would cost. According to the EPA, the BMW would require 3.4 gallons of fuel per 100 miles, with the average gas price in the U.S. being around $3.20 per gallon.
Most of the charging (79%) was done at home, which is typically cheaper than public charging stations. Only 5% of the total charging was done at Tesla Superchargers, which are generally more expensive.
Breakdown of Repairs and Maintenance
Maintaining an EV can also be less costly compared to traditional internal combustion engine vehicles. For this Tesla Model 3, the only significant repair was a windshield replacement, costing approximately $1,400. However, this expense was covered by insurance, so there was no direct cost to the owner.
Additionally, a new 12-volt battery was required, costing $139, and two cabin air filters were replaced at $17 each. This brings the total out-of-pocket maintenance and repair expenses to $173.19 for the year.
Insurance Costs
Insurance premiums for Teslas can vary widely depending on the provider. Although the exact insurance cost for this 2018 Model 3 wasn’t specified, the video referenced for this data mentions that insurance for a 2019 Model 3 runs about $190 per month for full coverage.
Conclusion
The financial analysis of owning a 2018 Tesla Model 3 Long Range over a year highlights its economic benefits. With its low charging and maintenance costs, the EV proves to be an affordable option in the long term. Such insights are crucial for prospective buyers weighing the cost benefits of an electric vehicle against traditional gas-powered cars.
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William Kouch, Editor of Automotive.fyi
