Look at these links if you answered "no"
100,000 Dollar Sport Coupes - SportsCarForums.com
best cars under $100,000
100,000 Dollar Sport Coupes - SportsCarForums.com
best cars under $100,000
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I get the point that the price/performance ratio is excellent(and I wish that I could justify the cost), but the idea of a $90k "steal" is kinda goofy.
I think the "steal" is what you have to do to pay for it.
I get the point that the price/performance ratio is excellent(and I wish that I could justify the cost), but the idea of a $90k "steal" is kinda goofy.
I live in the UK, and this place is a rip off for buying and running anything interesting with 4 wheels.
However, I put together a sizeable spreadsheet of the likely running costs difference of a Model S Vs an equivalent luxury 'sports' sedan, and weighted up all the main costs.
ICE examples typically would be a Maserati Quattroporte, 7 Series BMW, Merc AMG etc. I've owned something like 40+ cars over the years including some exotica and have been fleeced senseless by the likes of Ferrari, so I am painfully familiar with the real-world costs of running certain high-end cars.
Below I summarise the various financial and numerical assumptions built into my spreadsheet, and the summary results.
I accept that this works in UK, and is probably similar for most of Europe, and that running costs in the USA are significantly less primarily due to gas being 1/3rd the cost.
ASSUMPTIONS:-
EV to be a top spec Model S, 85kWh pack, energy usage averaging around 250 miles per charge, or about 340 watts / mile. Likely UK purchase price probably around £80k'ish.
ICE to be a typical 4 door 'luxury' spec Italian or German sedan with 4 to 5 litre engine, doing an average of 18mpg. Likely purchase price around £80k'ish.
• Costs based on 100,000 miles spread over a 10 term of ownership
• RPI at 3% straight line, and applied to road tax, servicing costs and Feed-In-Tariff payments for Solar PV
• Historical Fuel Inflation assumed at 6% straight line
• EV Charging at night time electricity rates
• 85kWh pack, needing 85kWh to charge not accounting for temperature
• EV's have no road tax in UK, saving £5k+ over 10 yrs
• ICE servicing (based on direct experiences) £1,500 p.a (at least ..)
• EV needing minimal servicing of £500 pa / $800
• PV option priced in at the generous 44p / kWh Feed-in-tariff rates, but only taken account of FITS for the cars usage.
• there's some really amazing TAX benefits for running an EV as company car, equivalent to a 28% discount on the price, or about - £25,000 … !!!
• no account of depreciation, insurance or tyre cost (assume for now it cancels out between ICE and EV)
• If you commute into a city like London with congestion tax, there is an additional £20,000 charge loaded onto the ICE over the term (but not taken into account here as its getting messy)
SUMMARY COSTS OVER 10YRS / 100K MILES …
Basically, the ICE car will cost in total at least £160,000+ over the 10 yrs, including initial cost of car, and nearly £50,000 in petrol alone…
Whereas the EV costs vary depending tax status, and if you have PV. Without PV the electricity charge costs will be approx £2,800.
-> EV with no corp tax benefits, and no PV, total cost £98,000 over 10 yrs, including initial cost of car. Saving compared to ICE = £62k better off.
-> EV with tax benefits/deductions, total cost £73,000, including cost of car. Saving = £ 87k better off.
-> EV with tax benefits, AND PV payments, total is £56,000, including cost of car. Saving compared to ICE = £104k better off.
So in other words, if you run a Model S over 10 yrs, through a company, and have PV on your roof, you'll be over £ 104,000 better off at the end of it, and still own the car...
Plus you'll have a lot of fun, a green conscience and save masses of CO2 etc
A saving of £104k is about $168,000 … If you invested your annual ICE/EV savings into Tesla stock, over 10 yrs, the results could just be staggering !
Hi from someone else in the UK who used the tax advantages on the purchase of a Roadster. (Led to a big fight woth the tax man but we won. I would factor tax investigation insurance into the cost base because they do not like paying back large amounts!)
1. Did you take account of the planned changes in BIK tax in 2015 (after which the Benefit In Kind tax on a model S will jump from 0% to 15% ie same as the best petrol cars)?
2. What is the scenario like now for someone getting PV today at 21 p FIT?
3. Is the spreadsheet available?