EVs are ‘not as affordable as you think’ is the opinion of this American YouTuber as he breaks down his Tesla Model 3 costs with an old Hyundai Sonata, revealing some hidden expenses.
It’s a common marketing phrase, but EVs are supposed to save you money in the long run.
While you may pay a premium to get a battery-powered car, the savings on gas and oil are supposed to save you a small fortune.
However, this Tesla Model 3 owner is erring on the side of caution, as some hidden costs soon bridge the gap.
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The hidden costs of owning a Tesla
There’s little denying that EV charging costs trump petrol usage; one man who has traveled the distance from the Earth to the Moon has proven as much, saving thousands of dollars.
However, there are a few hidden costs that add up to eat away at those promised savings.
Putting these out into the open is American YouTuber Tailosive EV, who has now revealed the stark differences between insurance, registration, and repairs on these newer electric vehicles.
Tailosive EV
In an upload to his channel, the YouTuber revealed that the two biggest Tesla Model 3 costs that drivers should be aware of are registration and insurance.
Despite being a good driver with high safety scores and a full no-claims history, moving to an EV saw his insurance costs rocket with a threefold increase.
This is likely due to the increased value of the car and the price of repairs, should an insurance company need to make any.
“Because this is a much more expensive vehicle, if the windshield cracks, that’s going to cost a lot more to replace. Or, if we get in a collision with the Tesla, we’re going to pay a lot more and wait a lot longer for service,” he explained
But even harsher is the registration, which costs him $570 a year.
Comparing Tesla Model 3 costs to his old Hyundai Sonata
While $570 a year might not sound bank-breaking, it’s still four times as expensive as his Hyundai Sonata, which came out at $130 annually.
Back on the insurance costs, he managed to get a rate of $81 per month, which is over twice the $35 per month he paid on the Hyundai.
General maintenance is more costly, too, as he claimed to have averaged more in servicing and tire wear than he did in his older car.
Tailosive EV
Still, when weighing in how much the Tesla Model 3 costs to run on electricity, he still comes out on top with a $600 saving.
Planning on keeping the car for the next 20 years, this would save him $12,000, which really does put that $38,000 purchase price into perspective.
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