I’ve spent extra money on upkeep of my 2019 Tesla Mannequin 3 SR+ (Customary Vary Plus), so it’s time for an additional price of possession replace.
Additionally, earlier than I get into the newest expense, I ought to be aware that I made a decision to cross on the Tesla prolonged guarantee possibility. I wrote about it a few instances and regarded the in depth suggestions from some readers, ultimately deciding to take the danger and assume I’ll spend much less within the subsequent couple of years on further upkeep/repairs than I might have paying for the guarantee. That in all probability means I’ll truly spend extra. We’ll see!
My newest upkeep expense was windshield wiper blades. Shockingly, that is the primary time I’ve changed them in over 4 years of auto possession. (Granted, I ought to have finished so months in the past, however such is life.) They price me $23.
My whole upkeep and repair prices in my final replace was as much as $1,991.58. That makes the brand new whole $2,014.58 after 4 years and 1½ months of possession.
If you happen to add my down cost of $9,450.03 to that and likewise add in 4 years and one month of funds to the financial institution that financed my automobile, you get a 4-year (and one month) possession price of $42,868.22. In one other 11 months, we’d be at about $50,000. Although, I do know I would like new tires quickly, want a brand new air filter, and can possible have some further service prices come up.
That doesn’t actually imply the 5-year price of possession might be a bit above $50,000 anyway, although, as a result of the automobile will nonetheless be price one thing, and I’ll nonetheless have one other yr of automobile funds. In keeping with Tesla, it’s price about $20,000. So, that will put the fee a bit above $37,000 after subtracting remaining funds, or let’s imagine $7,400 a yr. However I’m probably not glad with Tesla’s estimated trade-in worth and am preserving the Mannequin 3. Some have suggested making an attempt to promote it on the non-public market to get a better resale worth, however I think about it will possibly’t be an excessive amount of larger than Tesla’s estimate and I do know that promoting that means additionally provides to the taxes I’d must pay on the sale. In any case, I all the time anticipated to maintain it for a very long time.
Maintaining it for 10 years as an alternative of 5 or 6, the $46,144.08 in automobile funds plus the $9,450.03 down cost will come to $55,594.11, or $5,559.41 per yr. Upkeep and repair is at present at $503.65 a yr for me. We are able to’t assume that is still the identical for 10 years (together with out of guarantee), however if it did, that will convey the 10-year price to $60,630.61, and the yearly price to $6,063. Once more, although, that assumes the automobile has a worth of $0 after 10 years. I assume the worth might be a lot larger, and truly nearer to the present trade-in worth than the unique price. We purchased a 2015 BMW i3 REx 5 years in the past for $16,000. It’s price basically the same amount as we speak on the used automobile market. That’s with an unique vary ranking of 71 miles and a small gasoline tank.
So, we’ll see, however one factor is for positive — I anticipate the Mannequin 3 resale worth in 2029 to be ok that the 10-year price of possession is effectively beneath $60,000. For now, although, I’ll simply proceed monitoring service & upkeep prices.
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