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Cost of ownership of buying Model 3 vs keeping my M235i.

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My assumption is that it will cost you with rebate/discount about $200/tire + tax + install (Tesla charged me $40/tire) = $250/tire if not more. For reference My Model S tire from Tesla is 240 + 50 install = 290/tire. You will not get more than 30K-40K miles out of them.

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These costs are not relevant for my calculation as they will be similar. It might actually be cheaper with the Model 3 because I won't track the car. I'm already at the end of a 2nd set of tires on my M235i after 29K miles. I bought my last set after 12K miles for $838 + $150 to install 4 225/40ZR-18 MICHELIN PILOT SUPER SPORT XL on my M235i.
 
It is simple formula: power (kwh) = amp x volt / 1000

Rated range of 44 miles charge/hour at 11.5kwh matches what tesla has for Model 3 at 60Amp breaker with max output of 48amp.
Home Charging Installation

To get 47miles/Kwh you have to be on some serious never-ending downhill drive. As that basically translates to 47 miles/kwh x 75Kw battery = 3,525 miles on a single fully charged battery. That is absurd. (we wish :p)
Sorry, typo 47mile/hour. (Rather than 44).

Which is real numbers. You might get down around 40mi/hour or high 30's average for the year with winter (if you're in inside parking, outside parking becomes another ballgame).
 
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@Oyinko

Here was my analysis with ICE cars showing total cost of owning Model 3 priced at $60.5K is cheaper than even the $40K Nissan ICE.

upload_2018-8-4_13-54-33.png
 
Can I destroy an M5 weighs on my mind more than what my projections on unleaded gasoline will be in 2020.

And I’m an economist. :D

To be serious - keeping the car you have will always make the best financial sense. As others have said it’s going to be a emotional and discretionary decision more than anything.

I do think however as Model 3s are more ubiquitous, it will be harder to resell legacy auto. So getting what you can, when you can aka ripping off the band aid should be done ASAP if your mind is made.
 
@Oyinko

Here was my analysis with ICE cars showing total cost of owning Model 3 priced at $60.5K is cheaper than even the $40K Nissan ICE.

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Only in NJ is sales tax waived on EV
Interest rate is 0% for 60 Months on the Nissan due to manufacturer subsidy.
LOL at insurance being the same on a Tesla as any other car.
MSRP is below $39,000. Who pays MSRP for traditional auto? I knock 5,000 off that price before I even leave my couch

Is that the sheet you use to justify the Model 3 to your wife?

Shouldn't lie to other TMC members. I always tell the truth to the best of my ability even if it upsets others. I destroyed your calculations in 60 seconds after looking at the Nissan site. I will also question the maintenance costs years 4-6. Nissan's are not going to become junk after 3 years

You buy a Tesla because its sex on wheels. You don't buy one to save money.
 
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You buy a Tesla because its sex on wheels. You don't buy one to save money.

This ^^ ...words of wisdom :cool:

@KCapital is correct on depreciation ..having had three Tesla’s after three years these easily go >50% depreciation ..u can see that easily on P85D prices I see this more so on the 3s ....cars are not financial assets as another poster noted they are emotional decisions ...if u can afford the payment and like the car go for it ..otherwise keep the BMW ...also these cars burn thru tires fast ..my biggest expense on previous Tesla’s was tires not annual maintenance or anything else
 
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LOL at insurance being the same on a Tesla as any other car.
This seems highly dependent on the underwriter, insurance companies are all over the map on Teslas still. Although I'm not sure where you'd find one that priced the LR-D the same as the Maxima SL, because crossing the $50K property cap is a big jump. The Maxima's is probably the one that's high. I don't know what NJ rates are but $1330/year is about right if not a little high for the AWD for me (quote I have is $1440/semi-yearly for all 3 cars together, and the LR-D is well less that half that total).
 
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This ^^ ...words of wisdom :cool:

@KCapital is correct on depreciation ..having had three Tesla’s after three years these easily go >50% depreciation ..u can see that easily on P85D prices I see this more so on the 3s ....cars are not financial assets as another poster noted they are emotional decisions ...if u can afford the payment and like the car go for it ..otherwise keep the BMW ...also these cars burn thru tires fast ..my biggest expense on previous Tesla’s was tires not annual maintenance or anything else

Speaking of emotions I’m fuming because a Mustang is being a gashole weaving in and out and gunning it at reds. Between the Model X the P3 and the Volt guess which which one I was in. Bleh

I’m adult enough to not be baited into anything dangerous.

A game Tesla by presence alone tends to mellow surrounding aggression. If not.. 1-2 seconds will do it as well.
 
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I still don't think the Tesla is cheaper then the competition and still a luxury purchase. Some of the costs on the chart seemed swayed highly in favor of the Tesla. Nobody pays MSRP for a Mercedes E300, you can get a 10% off MSRP without doing hardly any negotiation and much more if you are a smart shopper. If 12-15k miles per year is enough for a driver and you want a luxury car then BMW and Mercedes can't be touched in terms of pricing. You can search on leasehackr and find you can get a Mercedes E300 with nothing down for $300-450 a month. Can have a brand new car every 3 years and repeat the cycle over and over multiple times before getting to what the MSRP of the Tesla would be. Peope complain and say a lease is stupid because you have nothing to show for it in the end and have to return, however a 15-20 year old Tesla won't be worth anything either as people will want the newer models. BMW covers maintenance during lease period, so operating costs will be just gas. If you don't want to lease then pick up a low mileage (under 7k miles) 1-2 years used C, E, 3 or 5 series and will likely be less than half the price of a Model 3. Tires will also likely cost much more then the Mercedes, since the Tesla has instant torque and will likely have tires that last half as long. Forget about the financial side and let your emotion decide and you will always pick the Tesla, they are worth the money when viewed as a luxury purchase. I love my 3 and X and would pick it again.
 
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I'm not trying to save money, just trying to understand if it wouldn't be completely not reasonable to sell replace my M235i with a Model 3. It seems it would cost me about $7K more over 3 years to replace it with a M3PD+

I’m not sure how good your calcs are as people tend to bias towards the Tesla.

Though even at 15K more over 3 years hell yeah I’d get a M3P.

I feel like Ric Flair every stop.

Whooooooooooooooooo!
 
@Oyinko

Here was my analysis with ICE cars showing total cost of owning Model 3 priced at $60.5K is cheaper than even the $40K Nissan ICE.

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Does anybody know where I can find the average price of premium gasoline in my area over the last few years? I could always just use the current price (as it probably hasn’t fluctuated too much) to get a rough estimate on the amount of money I’ve spent on gasoline, but I’d prefer for that number to be as accurate as possible.

Thanks in advance!
 
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You are way off on your depreciation calculations. In three years with SR/AWD out and available, price/markup for LR and Premium won't be the same. You should easily have 50% depreciation for 12Kmiles/year usage as in long runTesla's (at least Model S/X) prices drop YoY for fully loaded models.

Also - Add this list to start the reall computation:

Ownership Duration
Price
Midlife crisis cost (wraps, ceramics, chrome delete etc)
Sales Tax (Varies by state)
Car Registration
Tax Break/Incentive
Net Price
Interest Rate (on Loan)
Loan Period
Miles Driven
Monthly Payment
Total Interest Paid
Wall Charger + Install Cost
Yearly Service
Tire Replacement (over ownership duration)
Additional Warranty
Real Electric/Fuel Cost
Car Insurance
Resale Value
Total Miles Driven
Total Cost of Ownership
Cost/Mile
Monthly Cost
So I get to see first hand with used model 3’s go for at auction when repo’d. They’re unreal with their resale value. I recently auctioned off a sr white on white 2018 with 14k miles and it brought 42500 plus 500 auction fee transport etc...

I will agree on the “loaded” vehicles it’s not as good for sure, p100d w ludicrous has almost no advantage over P100d. Best bet on resale model 3 LR 2wd. Great resale