Electric Dreams: Tesla Owning Beyond Affluence or a Fun Test Drive for Everyday Folks
Recent data from Cox Auto/Kelley Blue Book indicate that Tesla's popular models, the Model 3 and Model Y, are surprisingly affordable. The average selling price of a new car in the United States is approximately $47,936. However, the Model 3 starts at $38,990, and the Model Y, which topped the sales charts in 2023, begins at $43,990. New inventory Model Ys are currently priced around $39,590 in some areas.
Moreover, when considering the EV tax credit of $7,500, which many Americans qualify for, the net price of these cars drops to just over $32,000. This is comparable to the cost of a fully equipped Toyota Camry, leading to the question: Would a Camry be considered a 'rich person’s car’? In reality, owning a Tesla isn’t exclusively for the wealthy; it’s a viable option for anyone seeking good value for their money.
Choosing a Tesla Over Traditional ICE Cars
One of the benefits of owning a Tesla is the lower fuel and maintenance costs. Electric vehicles (EVs) are more energy-efficient and have fewer mechanical parts to wear out, which translates to less maintenance. A six-year owner of a Tesla Model 3 has shared their experience, noting the substantial savings on gas and maintenance. They have also driven the car on long road trips, including a 6,000-mile journey from New York to Washington State and back, without any significant issues.
It’s important to note that while Teslas are not cheap, they are not typically the first choice for yachting enthusiasts. However, their exceptional performance can be a thrilling experience. Tesla owners have been known to take these cars for test drives purely for fun. The sheer speed and agility of Teslas can be a joyful experience, though not without its moments of regret. As an example, a test drive of a brand new BMW 3-series left one owner with a lengthy list of squeaks and rattles, suggesting the need for more rigorous quality control in the production process.
The Lower Cost of Electric Cars in the Used Market
Another factor to consider is the competitive used market for electric vehicles. With over a decade of EVs on the market, the used Model 3s can be found for around $20,000, still covered by the company's 8-year/100,000-mile warranty on the battery and motors. This makes them an attractive option for those who might be hesitant about buying a new car.
Is Owning a Tesla Indicative of Wealth?
The perception of owning a Tesla is often associated with wealth. However, as seen with the Model 3 and Model Y, the cost is becoming more accessible to a broader range of consumers. The EV tax credit and lower operating costs make these cars a practical choice. Whether it’s for a long drive across the country or a fun test drive, the value proposition of a Tesla is compelling.
For those curious about electric cars, multiple references to current Model Y inventory are provided to explore further. Electric vehicles like the Model 3 and Model Y are not just a symbol of status; they are increasingly becoming a practical choice for the modern driver.