Do Teslas Cost More Than Other Electric Vehicles? Are They Really Worth It?
Pricing and Rebates
One of the most debated aspects of owning a Tesla is its pricing. While Tesla offers impressive rebates, such as the $7,500 federal tax credit in the US, the overall cost can still be a deterrent. A car enthusiast who has owned two Teslas stated, At least in the US, they have a separate charging network, and in Europe, you don't even have that as an advantage because we standardized the CCS plug. All cars can use any charger. This separate network can indeed add to the costs of owning a Tesla.
In addition to the initial purchase price, Tesla owners often mention additional costs such as Apple CarPlay, Android Auto, Alexa support, and upgraded audio with Dolby. These features are considered outdated compared to other cars and can make owning a Tesla seem more cumbersome than it should. The pricing also includes the supercharger network, which serves as a significant advantage but comes at a cost.
The Cost Savings Argument
Despite the higher initial cost, some argue that Teslas offer long-term cost savings. According to an owner, You save money in the long run in both fuel costs and maintenance since there is nothing to replace for the first 15 years on a Tesla other than the tires, windshield wipers, and adding water fluid. Even the brake pads don't need to be touched for 100,000 miles in my experience with regenerative braking. The largest cost, besides components, is the battery, which is comprised of thousands of smaller batteries.
Market Demand and Supply Issues
The market demand for Teslas is unprecedented, leading to high prices and shortages. The owner of a Tesla noted, One day I could have taken the car across the street to another dealer and sold it for almost 12,000 dollars more than the price I paid, but I didn't because we really like the car. This price discrepancy highlights the limited supply and high demand.
The increasing prices, even with new tax credits, are a result of supply and demand. Tesla keeps raising prices because people continue to pay them. The owner further pointed out, The only thing that will fix it is more supply and/or competition, or people stop paying these insane prices. The cost-saving features are overshadowed by the high initial costs, leading many to wonder if Teslas are really worth the investment.
Long-term Value and Depreciation
The depreciation rates of Teslas are much lower than traditional combustion engine cars. An owner mentioned, We sold our Model 3 for 200 less after 2 years, so we essentially drove it for 2 years for 8.33 per month. That's a pretty damn good deal. While this is a significant advantage, it is important to note that used car prices, in general, are higher than new car prices, which may not be sustainable in the long run.
Despite the initial advantages, the high prices and depreciation struggles can make Teslas less attractive to many potential buyers. The owner concludes, I have way more things I would rather spend 60,000 dollars on than a depreciating vehicle. This statement underscores the balancing act between cost-saving and overall value when considering buying a Tesla.
Conclusion
Teslas have their merits, but the high initial costs and limited market demand can make them less attractive compared to other electric vehicles. While the supercharger network and long-term cost savings offer advantages, the high initial costs coupled with the depreciating nature of the vehicle can dissuade many buyers.