Home » Is Tesla a good investment? We compare all the numbers to a “Normal Car”

Is Tesla a good investment? We compare all the numbers to a “Normal Car”

by petergibson879748

Many people consider buying a Tesla for the fuel savings. Could that be true? Since its inception, Tesla has been a household name. You’re not the only person looking for information about how to invest in Tesla stock, with the increasing trend towards electric cars and the reduction of carbon emissions. The question is, “Is it worth buying Tesla?” Or are you making a costly mistake? The Tesla cars are among the most expensive on market. Before you make a purchase, it’s worth looking at the numbers. This article will help you do the math. Laguna Beach Tesla dealer has analyzed factors like annual cost, gas savings and ongoing tax incentives to provide you with a complete picture of the incoming cash flow and output cashflow that Tesla owners experience.

All you need to know about buying a Tesla.

Is it worthwhile to buy a Tesla?

The Tesla cars are an excellent choice if you’re looking for a luxury car with modern styling and an electrical engine. The Tesla cars are not only better for our environment but also have the status symbol of being a status symbol due to their high price. Is it worth the high price? This section will discuss factors like purchase price, insurance, fuel cost, maintenance costs, taxes and savings potential. This section will show you whether the Tesla cards are well worth the high price.

Purchase price

Their most affordable car is the Tesla Model 3. The Tesla Model Y Long Range crossover is next, followed by the Model S sedan. At $104,990, the Tesla Model X is most expensive at $104,990. Your final car price will be determined by the features and upgrades you select. Although the Model 3 is widely believed to be the most popular electric vehicle, many potential Tesla owners are more interested the Model S, the company’s flagship car. It will be our main example. Let’s say you want to buy a Model S starting from $94,990. This price could be higher due to the extra features Tesla offers to its base models. Let’s not forget it. This would happen if you didn’t have $95,000 to finance your Model S. Monthly payments will average $1,365. You will be paying approximately $1,365 per month. This is $9,500 down payment and 98.265 loan repayment for your Model S. While many car companies will offer low APRs if you refer them to their finance department for financing, your actual interest rates will depend on your credit profile. This will depend on your credit score, preferred loan term length and down payment.

Fuel

Electric motors offer the greatest savings in fuel. Even if you compare the fuel cost of a comparable-sized, fuel-efficient vehicle such as the Toyota Camry, which averages 32 MPG, the savings are substantial. Let’s suppose you drive your Camry 15,000km per year. The Camry will cost $1,589 to drive with an average gas price of $3.39 per gallon. If you bought a more efficient car, you’d pay even more. The Tesla Model S’s electric cost is $0.037/mile, which is roughly the cost of charging your Tesla at home. You will also need to pay $555 for the same distance (15,000 mile). A Tesla can save you significant fuel. We must not forget about the cost of setting up an electric vehicle charging station in your home. You will probably do this, as opposed to relying on the Tesla Supercharger network. Fix estimates that a home charger station will cost you $1,200 on average. You will save money on fuel every year you own your Tesla but you still need to think about the initial cost of the charger that you’ll need for the first year.

Tax credits

The federal tax credit for Tesla used to be very impressive. Tesla buyers are now eligible for tax credits from their states. The $7,500 federal tax credit is no longer available. Depending on where you live, the tax credit could reach up to $2,500. However, it could be significantly less or even none. Some states only offer incentives for vehicles with a price above a certain amount. There are some states that limit the models of Teslas they will offer incentives for. Do your research on the tax incentives available in your state to help you decide if Tesla is worth the investment.

Insurance

While Tesla insurance costs will vary depending upon where you live and which model you choose to insure, the average Tesla insurance rate remains higher than other vehicles. They can be more costly to repair due to their unique components like the aluminum frame or electrical system. Tesla luxury cars are also considered by some insurance companies and they may be subject to premiums. Tesla’s insurance policy offers lower premiums that traditional insurers. Your insurance premiums will be affected by how much car insurance you have. According to some estimates, Tesla Model S insurance costs $3,673 per annum, while Toyota Camry insurance costs $2,200 per annum. These numbers can vary depending on your driving record, zip code, but it is something worth considering for potential buyers.

 

Business Name :-  California Beemers Teslers

Address :- 1425 Baker Street Costa Mesa, CA 92626

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