10 year cost of ownership

[kuttakamina]

I'm not sure how we put a $ figure to this. But as soon as we do, I think we'll all agree on this.

Yeah, I'm not sure what the $ cost of that is.
But what is the cost of higher meat prices due to the drought in california?
What will be the cost of relocating most of miami?
Or the wars over water and food?
The drowing of 33% of bangladesh and relocation of a billion people and the associated unrest it'll bring?
etc. etc.

Lets say, there is a 0.001% chance climate change IS real.

Expectation = Probability * Damage.

The $ cost of climate change, no matter how you slice and dice it, is pretty damned high!

Side note: Cost of owning a Tesla, should also factor in the high cost of repairs or high cost of insurance.

 

[cgiGuy]

Fair enough, call it $80k net after selling the car. My Lexus RX400h is 8 year old and deducting resale value the total cost including gas has been $39k. Big difference, of course they're different animals but the Lexus was a pretty high tech expensive car when new!

Didn't RX400h sell for around $45K in 2007? Ballpark from KBB is $13K now, so that's ~$32K. So you spent ~$7K on all taxes, registration fees, maintenance, and fuel over 8 years? 100,000 miles at 26mpg equates to 3846 gallons of fuel.

I probably added something wrong.. so help me out.

 

[eco5280]

Didn't RX400h sell for around $45K in 2007? Ballpark from KBB is $13K now, so that's ~$32K. So you spent ~$7K on all taxes, registration fees, maintenance, and fuel over 8 years? 100,000 miles at 26mpg equates to 3846 gallons of fuel.

I probably added something wrong.. so help me out.

Sticker was around $53, I paid $43. 8 years of gas is $10k. So $53k in costs, and $14k resale, there's your $39k net cost for owning it. Figure 10 years will end up costing me $45k. Compared to owning the Tesla for 10 years @ ~ $83k. ($103k minus optimistic $20k resale in 2025). So the Lexus, which I considered a pretty high end hybrid vehicle, will cost about half the Tesla.

 

[Max*]

Sticker was around $53, I paid $43. 8 years of gas is $10k. So $53k in costs, and $14k resale, there's your $39k net cost for owning it. Figure 10 years will end up costing me $45k. Compared to owning the Tesla for 10 years @ ~ $83k. ($103k minus optimistic $20k resale in 2025). So the Lexus, which I considered a pretty high end hybrid vehicle, will cost about half the Tesla.

Which car costs more to maintain?

Tesla is $600/year (if you do it).
The Lexus is ...?

 

[Electroman]

Are you saying you haven't spent a dime in maintenance cost for your Lexus in these 8 years?

 

[AudubonB]

They should raise gasoline tax instead of taxing EVs. Keep gas expensive, so people don't buy those huge gas guzzler SUVs. Imagine you get in a typical V6 ICE, and press the throttle .. say for 55-60mph, in your bedroom. Yeah, how do you like that in your eyes?.......
In the socialistic republic of Maryland, you pay a rain tax - you pay tax if it rains. I am not joking.

Your example intrigued me, so I had to find out what you were referring to. And now that I know....here's a question for you:

Do you not see some inconsistency on your part in your backing a tax authority to attempt to champion cleaner air by taxing the causal agent (combusting hydrocarbons), but vilify it in its attempt to clean Chesapeake Bay by using their tax authority to prod municipalities to upgrade their storm-sewer infrastructure (for those who haven't followed, that's what this so-called rain tax is)? Am I missing something? Because from my vantage point, both of these taxes represent examples of using taxes to effect a change in society's habits & attitudes - something I laud in principal as appropriate use of The Power To Tax - even if sometimes the ox that gets gored ends up being one of mine.

 

[neroden]

That is the $50/yr EV tax in Colorado that is meant to replace the gas tax that an EV does not pay. I consider $50/yr quite a deal for being able to use the public highway system.

Completely whacked. I already pay my property taxes, which maintain all the roads I regularly drive on... I would consider such a tax very unfair. Luckily I live in New York which does not have any such crazy tax.

The roads paid for through state gas taxes are not the ones I use. If they need more money, toll 'em.

I'd be fine with a mileage tax if it went to fund the roads currently funded by *property tax*. I'd love to see my property taxes go down.

 

[saladman]

Washingtons EV tax is $100. And I understand it's going up to $150 next year. I agree that taxing gas higher actually makes more sense, as we need to discourage hydrocarbon behavior.

 

[Max*]

Completely whacked. I already pay my property taxes, which maintain all the roads I regularly drive on... I would consider such a tax very unfair. Luckily I live in New York which does not have any such crazy tax.

The roads paid for through state gas taxes are not the ones I use. If they need more money, toll 'em.

I'd be fine with a mileage tax if it went to fund the roads currently funded by *property tax*. I'd love to see my property taxes go down.

I didn't think NY does property taxes on vehicles? (at least NYC doesn't)

Here:
$64 additional EV registration fee
4.05% sales tax (same as ICE)
Yearly property tax on your car (same as ICE), for a Model S it's somewhere in the order of $3k-$4k for the first year, and then drops each year as the car depreciates.

 

[kirkbauer]

In GA the EV tax is $200-$300/yr which seems like a lot to me. Currently I drive a hybrid and my commute is very short. I actually don't even spend $300/yr in gas today, so the Telsa will actually cost more than my current car on an annual basis.

 

[Ride Long]

Completely whacked. I already pay my property taxes, which maintain all the roads I regularly drive on... I would consider such a tax very unfair. Luckily I live in New York which does not have any such crazy tax.

The roads paid for through state gas taxes are not the ones I use. If they need more money, toll 'em.

I'd be fine with a mileage tax if it went to fund the roads currently funded by *property tax*. I'd love to see my property taxes go down.

I am more than a little surprised to see members here repeating the myth that gas taxes are what pays for American roads. They pay but a fraction of the cost of building/repairing our roadways and other auto-dominated infrastructure. As was noted earlier the gas tax has not been raised in a generation. Most estimates are that gas taxes perhaps pay around half of the cost of our roads.

The bottom line is that our current political climate subsidizes ICE vehicles and the damage they do to the environment through a variety of taxes and subsidies. As a driver and cyclist I am all for improving infrastructure: placing the burden of paying for it squarely on the shoulders of the heaviest users and biggest polluters would be a good start.

 

[neroden]

I didn't think NY does property taxes on vehicles? (at least NYC doesn't)

The majority of roads and streets in New York State are funded by city & county property taxes on land (and on houses, apartment buildings, commercial buildings, factories). This is what I am referrring to.

Think this is a crazy way to fund roads? Maybe it is, but it's the way they are actually funded. This is true in *most states* in fact.

The gas tax is primarily reserved for expressway funding, though some of it goes to other big highways. But *those aren't the roads I drive on regularly*. Every city street or country road I drive on, and I drive on them a lot, is funded by my local property tax.

 

[kuttakamina]

Your example intrigued me, so I had to find out what you were referring to. And now that I know....here's a question for you:

Do you not see some inconsistency on your part in your backing a tax authority to attempt to champion cleaner air by taxing the causal agent (combusting hydrocarbons), but vilify it in its attempt to clean Chesapeake Bay by using their tax authority to prod municipalities to upgrade their storm-sewer infrastructure (for those who haven't followed, that's what this so-called rain tax is)? Am I missing something? Because from my vantage point, both of these taxes represent examples of using taxes to effect a change in society's habits & attitudes - something I laud in principal as appropriate use of The Power To Tax - even if sometimes the ox that gets gored ends up being one of mine.

Nice catch! But my point was, every state has weird taxes. The rain tax though is crass govt. mismanagement. They have raised taxes every year, and still not solved the issue - and another tax isn't going to change anything.
Still, my original point was - every state has issues, just pick your poison and be happy.

 

[JakeTrilla]

That is the $50/yr EV tax in Colorado that is meant to replace the gas tax that an EV does not pay. I consider $50/yr quite a deal for being able to use the public highway system.

I think my taxes in general are so poorly managed that the excuse to tax me MORE for new technology is an absurd one.

however, having my opinion made known, it completely distracts from the intent of OP!

so, the question is after 10 years of ownership, will Tesla’s be a good financial choice? Will they outdo their ICE counterparts outside of green tech and emotional experience?

 

[fmm]

I think that you missed insurance in your annual expenses.