In today's video I decide whether or not to buy a Tesla Model 3! I've been eyeing this car for a while, and since it's so different from all the other cars out there, I decided to rent it for a day to see if it was really what I wanted. At the end of the video, I actually do buy a new car so stay tuned to see what I bought! ALSO! - I know people will ask, NO Tesla does not rent out cars for the day. I actually rented this car on an app called Turo (basically Airbnb for cars).
If you want to do the same, use my link for $25 OFF your first rental:
As you can see in this video, I was debating between getting a used Audi A4 (2017) or a new Tesla Model 3. I probably would have been open to a used Tesla had it been available, but the car is still pretty new that no one is really selling it at a discounted price yet.
After really looking into the costs, I realized the Telsa Model 3 was still more expensive than the A4, but not by much.
For the cheapest Tesla Model 3, after tax and registration, it will cost you $46,622.
However, if delivered before July 1, in the state of CA you get $6,250 in tax incentives. This brings the cost down to $40,372. Tesla estimates that you will save between $4,000-5,000 on gas in 5 years, so that brings the cost of owning the car closer to $35,000~.
Additionally, the new Tesla Model 3's have a 4 year warranty AND 8 year battery warranty. I've talked to some Tesla owners (Model S's that have had the car a few years) and they've paid little to nothing for maintenance.
For a used Audi A4, with decently low miles in CA, it'd be about $25,000. After tax and registration, it's closer to $28,000. Over the next 5 years, it being a used car, it would definitely need some maintenance- I'm guessing at LEAST $2,000 (oil changes, brakes?, tires, etc), so cost of owning is closer to $30,000. This doesn't even factor in the cost of premium gas. My sister has a 2017 A4 and spends about $200/mo on gas- that's $12,000 in 5 years!
When I really looked at it, the cost of the Tesla was still more, but not THAT much more to own. And for the incredible technology you get (autopilot!!!) I think it's worth it! I mean really, what other car gets software updates?! Tesla says by 2020 the car will be FULLY self driving (in limited areas for an additional cost). I just think that no other car company can really touch what Tesla is doing right now.
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