Are Teslas Worth The Money?

Many people buy Teslas simply because they don’t use fuel and they think this will save them lots of money, but is this actually true?

Tesla first unveiled their full-electric vehicles in 2008, and back then, not many people saw the merit of EVs and didn’t see them as a viable way of driving on the road. Fast forward to 2023, and there are electric vehicles everywhere. While they might not have as much range as a standard combustion engine car, they are getting better each year, and consumers are buying them more and more. Many consumers thinking about buying a Tesla envision saving lots of money, but unfortunately, that is not the reality of owning a Tesla. There are many things to consider, and fuel economy is not the only thing that exists when it comes to Teslas. For starters, the price of a Tesla Model S is $94,990. Is this really the cost of better fuel economy? Not likely.

Teslas are excellent cars, there is no doubt about that. The question is: Are Teslas worth all the money you have to spend to own them? You might be shocked to learn the truth.

Can You Handle the Truth

Buying a Tesla is very expensive, and owning one isn’t all that cheap either. With base prices for new Teslas so high, there must be an incentive to spend so much money at once, right? Well, there doesn’t seem to be much incentive after all, after you weigh all the costs and fixtures.

When it boils down to it, owning a Tesla is not worth it if you are simply looking to save money on gas. The truth is, Teslas are not for the average car owner. That’s why you can’t find them at every car dealer. Right now, even though Teslas are becoming more available to the general public, having a Tesla is more of a status symbol than it is an actual daily driver. After looking at initial costs, charging station installation, tax breaks, and a disappointing fuel economy rating, Teslas might not be worth the money. But let’s get into the pros and cons.

Pros For Tesla

Teslas might be very expensive, but there are tons of reasons to buy one. Technologically advanced and breathtakingly fast, Teslas are amazing to drive and own. The main benefit of having a Tesla come after all the initial purchases. So, after you buy your Tesla and install all the necessary charging tools and what you have, then you might see some savings. If you are looking to save money on fuel, then you will be happy owning a Tesla. Plus, maintenance costs for Teslas are extremely low.

Cons For Tesla

You might be surprised to know that owning a Tesla, after all the initial purchases, is still somewhat expensive. The average yearly fuel cost of a Toyota Camry is close to $1,589, while a Tesla’s yearly cost is $555 (cost of charging). With fewer and fewer tax breaks each year and high insurance rates, owning a Tesla might not be worth the money. Ask a car dealer what their thoughts are on owning a Tesla.