Machine that prints money ...
April 4, 2019
I will focus on economics of this car because it is mind blowing how much you can save by buying a single Tesla Model 3 in your household.
As an example, in the past our household has always owned 2 regular gasoline cars that each on average are driven 15,000 miles/annually. So our total household needs are to drive 30,000 miles annually.
When we estimated our fuel savings by going electric we made assumption that our Tesla Model 3 will be driven 15,000 miles/annually. Just like the old gasoline car it replaced.
Oh boy, we were so wrong!!! Having one EV in household completely changes behavior how you utilize your cars. We stick to these principles:
1. whoever needs to drive the most a given day gets the Tesla. The other person uses our backup gasoline car.
2. when going on 1,000+ mile road-trips we always go in Tesla. Never in gasoline car.
3. need to go somewhere quickly and both cars are available? Always pick the Tesla.
Can you guess the end result by sticking to those principles?
Our Model 3 is driven 25,000 miles/annually. The old gasoline car is driven only 5,000 miles/annually. So at the time we did the math we were underestimating our fuel savings by not including these 10,000 miles/annually that Tesla "stole" from our gasoline car.
With our electricity ($0.10/kwh) and gasoline ($3.50/gallon) prices those extra 10,000 miles/annually shifted away from 28mpg gasoline car mean another extra $1,000/annually in fuel savings. So in our case the total fuel savings by buying a Tesla Model 3 are $2,500 annually or $25,000 in 10 years. If you live in place where gasoline is more expensive or electricity cheaper than you can save even more. Also, these numbers don't include maintenance cost savings that probably will add another few thousands in savings over 10 years.
Probably getting second Tesla in our household would not be that beneficial because it would provide fuel savings only on those remaining 5,000miles/annually.
But getting at least one Tesla in household is a no-brainer. Best financial decision I have ever made.