Tesla Model 3 SR+ 4-Year Cost of Ownership Update

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I’ve spent extra money on upkeep of my 2019 Tesla Mannequin 3 SR+ (Normal Vary Plus), so it’s time for one more value of possession replace.

Additionally, earlier than I get into the most recent expense, I ought to observe that I made a decision to go on the Tesla prolonged guarantee possibility. I wrote about it a couple of times and thought of the extensive feedback from some readers, ultimately deciding to take the chance and assume I’ll spend much less within the subsequent couple of years on further upkeep/repairs than I’d have paying for the guarantee. That in all probability means I’ll really spend extra. We’ll see!

My newest upkeep expense was windshield wiper blades. Shockingly, that is the primary time I’ve changed them in over 4 years of car possession. (Granted, I ought to have achieved so months in the past, however such is life.) They value me $23.

My whole upkeep and repair prices in my last update was as much as $1,991.58. That makes the brand new whole $2,014.58 after 4 years and 1½ months of possession.

In case you add my down cost of $9,450.03 to that and in addition add in 4 years and one month of funds to the financial institution that financed my automobile, you get a 4-year (and one month) possession value of $42,868.22. In one other 11 months, we’d be at about $50,000. Although, I do know I want new tires quickly, want a brand new air filter, and can doubtless have some further service prices come up.

That doesn’t actually imply the 5-year value of possession can be a bit above $50,000 anyway, although, as a result of the automobile will nonetheless be value one thing, and I’ll nonetheless have one other yr of automobile funds. According to Tesla, it’s worth about $20,000. So, that will put the associated fee a bit above $37,000 after subtracting remaining funds, or let’s imagine $7,400 a yr. However I’m not likely glad with Tesla’s estimated trade-in worth and am protecting the Mannequin 3. Some have suggested attempting to promote it on the personal market to get a better resale worth, however I think about it could’t be an excessive amount of greater than Tesla’s estimate and I do know that promoting that method additionally provides to the taxes I’d should pay on the sale. In any case, I all the time anticipated to maintain it for a very long time.

Conserving it for 10 years as an alternative of 5 or 6, the $46,144.08 in automobile funds plus the $9,450.03 down cost will come to $55,594.11, or $5,559.41 per yr. Upkeep and repair is at the moment at $503.65 a yr for me. We will’t assume that is still the identical for 10 years (together with out of guarantee), however if it did, that will carry the 10-year value to $60,630.61, and the yearly value to $6,063. Once more, although, that assumes the automobile has a price of $0 after 10 years. I assume the worth can be a lot greater, and really nearer to the present trade-in worth than the unique value. We purchased a 2015 BMW i3 REx 5 years in the past for $16,000. It’s value basically the same amount at this time on the used automobile market. That’s with an unique vary score of 71 miles and a small fuel tank.

So, we’ll see, however one factor is for positive — I count on the Mannequin 3 resale worth in 2029 to be ok that the 10-year value of possession is properly beneath $60,000. For now, although, I’ll simply proceed monitoring service & upkeep prices.


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