Mathematics & The EV — How Much Money Does My Tesla Model 3 Save On Fuel?
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When do I get a return on investment when buying an EV as opposed to a petrol car? I won’t get into depreciation because it is too hard to predict for different models. The Sonata cost $40,000 new from the dealer. Driving it for 13 years cost about $52,000 in fuel alone. So, just looking at these two factors, after 13 years I spent $92,000 on that car.
If I add other factors, like the fact that registration on the Sonata was $1000 per year and registration on the Tesla Model 3 is $600 a year, the story gets better for the Tesla. With this specific benefit, over 13 years, I would save another $5,200. The Tesla is even cheaper by comparison. The Sonata has now cost me around $22,000 more than the Tesla Model 3 is expected to.
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