22nd July 2024

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

Additionally, earlier than I get into the newest expense, I ought to word that I made a decision to move on the Tesla prolonged guarantee choice. I wrote about it a few instances and regarded the intensive suggestions 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 ship extra. We’ll see!

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

My complete upkeep and repair prices in my final replace was as much as $1,991.58. That makes the brand new complete $2,014.58 after Four years and 1½ months of possession.

In case you add my down cost of $9,450.03 to that and in addition add in Four years and one month of funds to the financial institution that financed my automobile, you get a 4-year (and one month) possession price 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 probably have some further service prices come up.

That doesn’t actually imply the 5-year price of possession will likely 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. In keeping with Tesla, it’s value about $20,000. So, that will put the associated fee a bit above $37,000 after subtracting remaining funds, or lets say $7,400 a yr. However I’m not likely happy with Tesla’s estimated trade-in worth and am holding the Mannequin 3. Some have suggested attempting to promote it on the personal market to get the next resale worth, however I think about it could actually’t be an excessive amount of increased than Tesla’s estimate and I do know that promoting that means 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 a substitute 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 presently at $503.65 a yr for me. We are able to’t assume that is still the identical for 10 years (together with out of guarantee), however if it did, that will convey the 10-year price to $60,630.61, and the yearly price to $6,063. Once more, although, that assumes the automobile has a price of $zero after 10 years. I assume the worth will likely be a lot increased, and truly nearer to the present trade-in worth than the unique price. We purchased a 2015 BMW i3 REx 5 years in the past for $16,000. It’s value principally the identical quantity right this moment on the used automobile market. That’s with an authentic vary ranking of 71 miles and a small gasoline tank.

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

 


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Tesla Gross sales in 2023, 2024, and 2030


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