Tesla Model 3 Ownership Cost Analysis Reveals Savings Compared to Gas Cars

A recent analysis by a Tesla Model 3 owner provides a detailed cost comparison of operating the electric vehicle versus a traditional petrol car over 52,000 miles. The analysis covers key expense areas including charging, maintenance, and insurance, highlighting where Tesla ownership can offer financial benefits. Charging costs totaled $2,840 over two years combining home and supercharging, which was significantly lower than the equivalent fuel expenditures for a gas-powered vehicle, resulting in an estimated saving of $4,649. Maintenance expenses were minimal at $158, largely due to the simplified mechanical systems of electric vehicles, compared to an estimated $2,000 maintenance cost for a gas car during the same mileage. Insurance also reflected savings, with the Tesla insured at approximately $93.79 per month, amounting to $2,250 over two years. The owner noted a total insurance saving of $1,349, particularly when opting for Tesla's specialized insurance offering, although claims processing was described as slow. Overall expenses related to charging, maintenance, and insurance accumulated to $5,245, while savings compared to a petrol vehicle reached nearly $8,000. These findings underscore the potential for electric vehicles to reduce total ownership costs despite higher purchase prices. The owner emphasized that Tesla ownership is a long-term investment, planning to track costs up to 100,000 miles for a more comprehensive analysis. This insight is relevant for insurers and automotive market stakeholders assessing the evolving cost dynamics and risk profiles associated with electric vehicles in the U.S. market. Such data contribute to understanding the influence of electric vehicles on insurance premiums, claims handling, and maintenance costs, informing policy development and product design in automotive insurance sectors focused on EV adoption.