Every car looks promising when it is sitting on the dealer’s lot. It’s nice and clean, begging you to hop in and take a drive.
Getting started in life as a young person can seem like a vicious cycle when a car is involved. There’s a circle of making payments and sinking money into insurance payments, not to mention the nightmare that happens when your car needs repairs. Since gasoline prices are spiking, combustion engine cars cost a lot to operate. On the other hand, electric cars are becoming more common because they cost little to operate.
If you absolutely have to own a vehicle, then there is no better choice right now than a Tesla. I’ll argue this statement in this blog today based on the low cost of Tesla insurance, the ease of charging the battery, and zero maintenance.
Tesla Insurance is low cost
Tesla Insurance, which is based on real-time driving behavior, is available in Arizona, Illinois, Ohio, and Texas [Virginia and Oregon soon]. Real-time driving behavior means that the monthly rate you pay for insurance will drop lower if you drive safer, and will increase if you drive less safe. Tesla will help you drive safer, through their app and your usage of the vehicle’s autopilot software that comes with every car.
California has a different kind of Tesla Insurance, and it is not based on real-time driving [but this may change, each state has complicated laws].
Tesla insurance usually costs less than $100 a month, with the likely probability that it will decrease in price. Or, it could increase based on your driving habits.
I am unsure what you expect to pay monthly, but I was paying about $250 a month before I got Tesla Insurance. I thought I had a good rate until I experienced the kindness of Tesla.
Old fashioned style insurance companies cannot compete with the low price of Tesla Insurance. The antiquated way is to charge you more based on your age instead of your ability to drive carefully.
Charging a Tesla is low cost
Your Tesla, if you decide to get one, costs much less to charge than what you would pay to fill a combustion engine’s tank up with petrol.
I am not going to give specific overall dollar amount averages in my argument. Instead, I will explain what I pay. Since I charge at home, I do see a small increase in my electric bill. I set the charge time to when electricity rates are low. I don’t notice more than a $25 increase in my monthly bill since I got the Tesla. Supercharging my Tesla away from home costs anywhere from $15 – $20 for a full charge.
Maintaining a Tesla is also low cost
My Tesla has an electric motor that requires no maintenance. There’s a saying among Tesla owners, that annual maintenance costs are about $7 [cost of windshield wiper fluid]. Conversely, people pay a lot to maintain a combustion engine as there are so many moving parts, valves, and coolant needs.
My own view is that when you need to get your first car, there really is no better car to buy than a Tesla. Here is a brief comparison of Tesla versus combustion engine car:
|insurance costs much less in some states||insurance based on your age, costs are high|
|avoid the gas pump||subject to high gas prices|
|no maintenance||scheduled maintenance and constant repairs|
Overall, owning a Tesla is less expensive than owning a combustion car. This issue is important because your vehicle is one of the biggest purchases you will ever make so it needs to be one of the best you can get.
Why I wrote this article and who I wrote it for
A few nights ago, I signed up for Tesla insurance. I was really happy with the significant rate reduction Tesla gave me. My teenage kid was also happy. She explained to me that her friends are just starting out with jobs and their first cars. She told me they have constant car expenses like insurance [big one], gasoline, and huge maintenance bills [one car needed a whole new engine]. She asked me to consider blogging in a “style that might help her friends believe they could afford a Tesla.”
Interested in what people think about Tesla Autonomy? You can check that out here.
Main header photo of Black Tesla Model 3 by Zack @BLKMDL3 [used with permission].
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Gail Alfar, Edited by Sarah Alfar. Exclusive to What’s Up Tesla – All Rights Reserved. March 19, 2022