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TCO analysis
- Thread starter beck.christopher
- Start date
MassX1317
Addicted to TMC
This is one I put together based on replacing my wife's current vehicle (formatting is a mess when I paste it here)...
| 6 year cost | 96,557.40 | 72,085.82 | 78,096.77 | ||
| 2,014.00 | 2,014.00 | 2,014.00 | |||
| TMS | Highlander | Lexus RX | |||
| Purchase Price | 88,570.00 | 35,000.00 | 39,000.00 | ||
| Sales Tax | 5,535.63 | 2,187.50 | 2,437.50 | ||
| Cash Down (Tax Credit) | (7,500.00) | - | - | ||
| 86,605.63 | 37,187.50 | 41,437.50 | |||
| PMT (72 Months) | 1,258.17 | 564.85 | 629.40 | ||
| Gas Savings (Approx.) | (269.55) | - | - | ||
| Net | 988.62 | 564.85 | 629.40 | ||
| 1.49% | 2.99% | 2.99% | |||
| Interest 1 | 663.78 | 580.26 | 646.58 | ||
| Interest 2 | 663.78 | 580.26 | 646.58 | ||
| Interest 3 | 663.78 | 580.26 | 646.58 | ||
| Interest 4 | 663.78 | 580.26 | 646.58 | ||
| Interest 5 | 663.78 | 580.26 | 646.58 | ||
| Interest 6 | 663.78 | 580.26 | 646.58 | ||
| 3,982.67 | 3,481.59 | 3,879.49 | |||
| Excise Tax 1 | 1,350.00 | 787.50 | 877.50 | ||
| Excise Tax 2 | 900.00 | 525.00 | 585.00 | ||
| Excise Tax 3 | 600.00 | 350.00 | 390.00 | ||
| Excise Tax 4 | 375.00 | 218.75 | 243.75 | ||
| Excise Tax 5 | 150.00 | 87.50 | 97.50 | ||
| Excise Tax 6 | 150.00 | 87.50 | 97.50 | ||
| 3,525.00 | 2,056.25 | 2,291.25 | |||
| 23.5k miles | Fuel 1 | 1,783.26 | 4,636.49 | 4,890.54 | |
| 23.5k miles | Fuel 2 | 1,872.43 | 4,868.31 | 5,135.07 | |
| 23.5k miles | Fuel 3 | 1,966.05 | 5,111.73 | 5,391.82 | |
| 23.5k miles | Fuel 4 | 2,064.35 | 5,367.31 | 5,661.41 | |
| 23.5k miles | Fuel 5 | 2,167.57 | 5,635.68 | 5,944.48 | |
| 23.5k miles | Fuel 6 | 2,275.95 | 5,917.46 | 6,241.71 | |
| 12,129.61 | 31,536.98 | 33,265.03 | |||
| Repairs & Maint. 1 | 600 | 450.00 | 450.00 | ||
| Repairs & Maint. 2 | 600.00 | 517.50 | 517.50 | ||
| Repairs & Maint. 3 | 600.00 | 569.25 | 569.25 | ||
| Repairs & Maint. 4 | 600.00 | 450.00 | 450.00 | ||
| Repairs & Maint. 5 | 600.00 | 517.50 | 517.50 | ||
| Repairs & Maint. 6 | 600.00 | 569.25 | 569.25 | ||
| 3,600.00 | 3,073.50 | 3,073.50 | |||
| Residual (15%) | (13,285.50) | (5,250.00) | (5,850.00) | ||
| Tax Credit | (7,500.00) |
- - - Updated - - -
You can set something like this up to change the down payment amount, interest rates, miles driven, etc. I just put the watered down version here.
I look at the TCO as the sum of 3 parts: Cost of the car, Cost of fuel, and Cost of Maintenance.
Cost of the car = Purchase price plus sales tax minus tax rebate minus residual value.
Cost of fuel = Total miles divided by MPGe times the cost of a gallon of gas.
Cost of Maintenance = Cost of the maintenance contract plus the cost of uncovered items like tires.
I make no attempt to quantify any intangibles. Only the costs that come out of your wallet.
As an example, consider a $100,000 Model S driven 15,000 miles per year for 5 years. Assume 33% residual value, service contract, and 12 tires. TCO is right around $72,000 or $1,200 per month.
Cost of the car = Purchase price plus sales tax minus tax rebate minus residual value.
Cost of fuel = Total miles divided by MPGe times the cost of a gallon of gas.
Cost of Maintenance = Cost of the maintenance contract plus the cost of uncovered items like tires.
I make no attempt to quantify any intangibles. Only the costs that come out of your wallet.
As an example, consider a $100,000 Model S driven 15,000 miles per year for 5 years. Assume 33% residual value, service contract, and 12 tires. TCO is right around $72,000 or $1,200 per month.
We figured about 83 cents per mile after 8 years with a 30% retained value, all in, with reduced plates, taxes, electric, insurances, etc. By comparison our 350Z costs us about 43 cents per mile after 10 years, and our Lexus RX is at 48 cents after 9 years. These are all-in costs including insurances, gas, maintenance, etc. We are not in this for the money- the 'leading edge" and interest from my tech-centric friends are the payback. Two colleagues are in the process of buying now- a white S85 and a gray S85. WooHoo.
Car pool lane access in California saves me hours per month. I have not tried to track the cost but have guessed it is worth $500.00 per month. My commute is very short, but I have appointments all around southern California. One day last week my wife wanted/needed the model S so I had to drive across L.A. late afternoon not in the car pool lane in our other car. It probably took an extra 30-40 minutes just for that one trip. I don't use the toll roads often, but for the model S it is either free or very reduced cost.
So far the resale value looks very strong due to the limited supply. Gas prices are going up, my model S is worth every penny.
So far the resale value looks very strong due to the limited supply. Gas prices are going up, my model S is worth every penny.
I'm in the process of figuring out exactly what and when I'll buy from Tesla (90% sure on everything now). I currently drive a Lexus RX330 SUV and it is worth about half of the Tesla Model S configuration that I want.
Over 8 years when I look at fuel, maintenance, & residual value for someone planning to drive about 30,000 km per year (18k miles), it's pretty darn close to being a wash. No brainer for the Tesla considering the extra performance and luxury. It's pretty incredible when you run the numbers. Imagine when the Gen 3 comes ... the comparison against a BMW 3-series will be a joke.
Over 8 years when I look at fuel, maintenance, & residual value for someone planning to drive about 30,000 km per year (18k miles), it's pretty darn close to being a wash. No brainer for the Tesla considering the extra performance and luxury. It's pretty incredible when you run the numbers. Imagine when the Gen 3 comes ... the comparison against a BMW 3-series will be a joke.
I use spreadsheets like that, too, but my wife just looks at them as if she's at the eye doctor and says "that's nice, dear".
tliving
Member
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