Is Driving A Tesla Cheaper Than A Gas Vehicle?
Aug 02,2022 | Chloe Lacour
If you're looking for a car that will help you save on fuel costs and general repair and maintenance costs, then a Tesla could be the car for you. But is driving a Tesla really cheaper than driving a gas car?
Yes, of course! A Tesla is cheaper to run and maintain than a gas car. The initial cost of buying a Tesla may be high compared to other electric cars, but you'll end up saving a lot. Teslas are also more expensive than gas cars, but you can save a lot in the long run.
Is it cheaper to charge a Tesla or fill up a gas car?
Charging a Tesla is a lot cheaper than filling up a gas car. The costs are even cheaper if you charge your Tesla at home instead of at a supercharging station. Of course, the cost varies from one Tesla model to another. Therefore, it is important to compare different Tesla models and know the cost of charging.
According to the University of Michigan, the average cost of running an ICE (internal combustion engine) car is about $1,120 per year. In contrast, the average cost of running an electric car is around $500 per year. In their study, they found that it's actually cheaper to run an EV in states like Hawaii that have high average electricity prices.
If you want even lower costs for charging your electric vehicle, you can use solar panels instead of the grid. While the cost of installing a solar system is quite expensive, it will save you in the long run.
Tesla Model S
The Tesla Model S is currently available in three different models, including Long Range, Plaid, and Plaid+. All these Tesla models have a 100 kWh battery.
If you have the Long Range model, which has an exceptional range of 412 miles, a full charge will cost you around $15.29. This is based on electricity prices of $0.13 per kWh and charging efficiency of 85%.
So you get charging costs of $0.037 per mile or $3.70 per 100 miles.
That's a lot cheaper compared to gasoline, which currently costs about $2.40 a gallon. Note that a new Tesla Model S Long Range variant starts at $81,290.
Tesla Model 3
The Tesla Model 3 has three different variants. These are the Standard Range Model 3, Long Range Model 3, and Performance Model 3. The Standard Range variant comes with a 50kWh battery and a range of 263 miles, while the Long Range and Performance variant has an 82kWh -have a battery.
In addition, these two variants differ in terms of range, as the Long Range variant can cover 353 miles, while the Performance variant delivers 315 miles.
If you choose the Tesla Model 3 Standard Range, expect to pay around $7.65 to fully charge the battery. However, if you choose either the Long Range or Performance variant, you'll pay around $12.54 for a full charge.
For the Standard Range variant, the cost per mile is approximately $0.03, or $2.91 per 100 miles. While the cost for the Long Range variant will be around $0.036 per mile and $0.04 for the Tesla Model 3 Performance variant. The starting cost for the Tesla Model 3 is around $35,000.
Tesla Model Y
Despite being new to the market, the Tesla Y can also save you some money. Like the Model 3, the Tesla Model Y has three variants. These include the Standard Range, Long Range, and Performance variants. All these variants are equipped with a 75 kWh battery.
The cost of fully charging the Tesla Model Y Standard Range is around $11.47. This equates to approximately $0.047 per mile or $4.70 per 100 miles. That's still a lot cheaper than using gas. Note that the Tesla Model Y is one of the most affordable vehicles in its class. Thanks to its starting price of around $42,000.
The initial cost of a Tesla versus a gas-powered vehicle
The truth is that buying a Tesla is quite expensive compared to a gas-powered car of the same magnitude. In addition to the base price, Tesla also has additional costs that can drive up the price. For example, you have to pay $85,000 for a Tesla Model S 85D.
However, if you want add-ons to make your car look glamorous and sporty, you'll need to buy things like smart air suspension, autopilot, executive rear seats, a Subzero weather package, and an upgraded sound system. Most of these add-ons have a starting price of $2,500.
When it comes to starting prices, most regular gas cars are much more affordable than a Tesla.
Are Tesla cheaper to run than gas vehicles?
yes, they are Teslas are cheaper to run because they have fewer moving parts than gas-powered vehicles. Therefore, you will not spend a lot of time at the mechanic to fix oil filters, catalytic converters, or similar parts.
The only challenge Tesla owners can face is dealing with quality parts. Nonetheless, these parts are easy to repair and most of them are covered under a warranty. So you won't have to spend a lot on repairing or maintaining your Tesla EV.
Is Tesla Better Than Gasoline?
Tesla is better than gasoline in many ways. First of all, you don't have to queue at the gas station to fill up your car. You can conveniently charge your car at night in your own garage or driveway. In addition, Tesla vehicles do not require the expensive repairs and maintenance that are common with gas vehicles.
How long does it take to charge a Tesla?
It depends on the model of your Tesla and the type of charger you are using. Tesla Superchargers are the best and can charge in less than 40 minutes. However, if you use regular home chargers, you may have to wait anywhere from six to 12 hours for your car to fully charge.
Overall, a Tesla is cheaper to drive than a gas-powered vehicle. Tesla and other electric vehicles are proving to be the cars of the future. This is because they are suitable for everyday use and have lower running and maintenance costs compared to ICE vehicles.
Tesla may have a high initial cost, but owning this car over the years is quite cheap compared to luxury gas-powered vehicles like Mercedes, BMW, or Audi. You don't have to make constant visits to a gas station or garage. Maintenance is also pretty cheap.