Cost savings are real... really real!

SoFlaModel3

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#1
I have now had my Model 3 for 4 months and the cost savings are staggering! Anyone who says we're not yet at "cost parity" with ICE vehicles is not considering the full cost of ownership. Not only are we there, the Model 3 blows away the competition. Check it out!

 

RIP_OPEC

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#2
I have now had my Model 3 for 4 months and the cost savings are staggering! Anyone who says we're not yet at "cost parity" with ICE vehicles is not considering the full cost of ownership. Not only are we there, the Model 3 blows away the competition. Check it out!

Furthermore, a significant factor that is often overlooked is the depreciation rate. I recall seeing a graph on Electrek, showing that a Model S easily retains over half it's value after 100k miles, and this was compared to lowest depreciation-rate ICEs - not a single ICE maintained even 50% value after 100k.

People always say Teslas are overpriced, and that they can get a "nice" Chevy Bolt/Volt instead for a fraction of the price. Well, anything Chevy is going to be practically worthless when you try to sell it in 5 years. You'll get most of your money back from selling a Tesla, so it's actually the smarter investment.
 

KarenRei

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#3
In US figures our gas is around $8/gal, but residential electricity is like $0,12/kWh (commercial electricity is super-cheap, but distribution fees make it cost more to homes). The savings for driving electric here are insane. Like , for 20k km a year, <$400/year to drive a Model 3, vs. $2k for a a super-efficient hybrid, $3k for a normal sedan, and $4k for a sports sedan.

Buying is no different. With 0% VAT on EVs here, but high, partially-emissions-based VAT on ICE vehicles, you save ~30% vs. a regular sedan and ~40% vs a sports sedan on the purchase price.

Seriously pays for itself.
 
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#4
Thanks for the video. I'm in NJ and I have an Audi A4 which is similar to the Model 3. Premium gas is $3.06 but energy cost average for past 12 months has been $.139/kwh. Same calculations will save me $540 in NJ over those exact miles.

Your energy cost seems to be really cheap. How is it only .10? Time of day meter? I will say mine is a 12 month average and I took total cost based on Kwh used not looking at time of day which I do have. I anticipate my cost will be cheaper than what my average is.

I do not drive as much as you but do anticipate 12K miles/yr. Based on that it will be more than a $5,500 savings in fuel cost.
 

SoFlaModel3

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#5
Thanks for the video. I'm in NJ and I have an Audi A4 which is similar to the Model 3. Premium gas is $3.06 but energy cost average for past 12 months has been $.139/kwh. Same calculations will save me $540 in NJ over those exact miles.

Your energy cost seems to be really cheap. How is it only .10? Time of day meter? I will say mine is a 12 month average and I took total cost based on Kwh used not looking at time of day which I do have. I anticipate my cost will be cheaper than what my average is.

I do not drive as much as you but do anticipate 12K miles/yr. Based on that it will be more than a $5,500 savings in fuel cost.
Electricity is fairly cheap here in South Florida and there are no peak/off-peak variations. The only thing is that if I hit my cap, anything over the cap is slightly more expensive.
 

NR4P

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#6
Thanks for the video. I'm in NJ and I have an Audi A4 which is similar to the Model 3. Premium gas is $3.06 but energy cost average for past 12 months has been $.139/kwh. Same calculations will save me $540 in NJ over those exact miles.

Your energy cost seems to be really cheap. How is it only .10? Time of day meter? I will say mine is a 12 month average and I took total cost based on Kwh used not looking at time of day which I do have. I anticipate my cost will be cheaper than what my average is.

I do not drive as much as you but do anticipate 12K miles/yr. Based on that it will be more than a $5,500 savings in fuel cost.
I live in same area as @SoFlaModel3 and his numbers on electricity cost are accurate. Just under 11cents kwh, 24x7. That's after the first 1000kwh of use per month. The first 1000 is a bit less. But homes in S. Fla are air conditioned most if not all months so we all go over 1000kwh.

In parts of the country with nighttime rates, it could be less.

The cost aside, I just like knowing I am not polluting the environment when I drive my M3.
 
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#7
All great stuff. I had a Fusion Energi but felt it just wasn't what i was looking for with only 25mi on electric before switching to ICE so I went with A4 until the 3 came out. Excited about it making the change to full EV! If I can stay with mostly night charging at less than $.10/kwh I think I can realize much of what you get in SoFla. Either that or make my move back down to Tampa or Ft. Myers. :)

Love learning and hearing experiences on here and have so many other questions that I know do not pertain to this particular area.
 

JDM3

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#8
So I just got my first electricity bill since picking up the M3 (or Super T as my youngest daughter likes to call it). We have TOU pricing with 6.5c/kwh from 7pm to 7am and all day weekends/holidays. My last bill covered the first 34 days of Super T ownership and I have the car plugged in most nights charging from 12am to 5am (I'm actually on an EV pilot program that gives me 2.0c/khwh during that period of time). During those 34 days we covered conservatively 5,000km. I was able to calculate the cost during that time (which also included a/c and other ambient electrical use), and at 6.5c the cost was $82 and the 2.0c pilot rate the cost was around $23. Even if the pilot rate never comes into production, 5,000km for $82 is insane! Even with my extremely light drinking Nissan Sentra, 5,000km would have run me around $500 in gas. Now it would take me 10 years of this savings to get me down to the cost of a Sentra, but you just can't compare the vehicles.

And by the way, where else can you stop at a park or shopping mall and get 50km free while you go for a stroll or pick up your groceries? I don't think I've ever seen someone with a gas can offering me free gas!
 

thril

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#9
So I just got my first electricity bill since picking up the M3 (or Super T as my youngest daughter likes to call it). We have TOU pricing with 6.5c/kwh from 7pm to 7am and all day weekends/holidays. My last bill covered the first 34 days of Super T ownership and I have the car plugged in most nights charging from 12am to 5am (I'm actually on an EV pilot program that gives me 2.0c/khwh during that period of time). During those 34 days we covered conservatively 5,000km. I was able to calculate the cost during that time (which also included a/c and other ambient electrical use), and at 6.5c the cost was $82 and the 2.0c pilot rate the cost was around $23. Even if the pilot rate never comes into production, 5,000km for $82 is insane! Even with my extremely light drinking Nissan Sentra, 5,000km would have run me around $500 in gas. Now it would take me 10 years of this savings to get me down to the cost of a Sentra, but you just can't compare the vehicles.

And by the way, where else can you stop at a park or shopping mall and get 50km free while you go for a stroll or pick up your groceries? I don't think I've ever seen someone with a gas can offering me free gas!
I'm in Ontario also, there are other fees on top of the per kwh rate for Hydro One but it's still amazing! I calculated similar numbers, with ROI of about 7 years versus our X3 SUV it replaced. If the Tesla lasts 10 years at 5k a month the cost is recovered.. people don't believe me when I tell them this!

Are you with Hydro One? How did you get on that 2c program?
 

Twiglett

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#10
Its rather interesting. I'm seeing that the Model 3 uses much less energy than my old Leaf.
I've mentioned it before in other threads, but in the Leaf I'd avoid AC or only have it set at 78F, rarely exceed 60-65 mph etc etc
With my Model 3 I leave the AC on 74F at all times and only limit my speed to +5 over whatever the limit is - and I'm still averaging better watts per mile.
 

JDM3

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#11
Are you with Hydro One? How did you get on that 2c program?
With Powerstream. They have this APP program that runs until end of February 2019. I actually signed up for it awhile back with no real intention on getting an EV, but after my Dad decided to pass on the M3, I took his order and now I'm benefitting from the pilot rate and loving the car.
 

garsh

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#12
I've mentioned it before in other threads, but in the Leaf I'd avoid AC or only have it set at 78F, rarely exceed 60-65 mph etc etc.
The Leaf definitely chews a lot more electrons when you go faster. But I find that the AC doesn't use much at all. I leave my AC on low pretty much all the time, just to dehumidify.