Model S as work car?

[YodaMan79]

Just checking in to see if others on the forum are using their Model S as a company car. I was getting an allowance of $700 (taxed) with fuel covered by the company in my expenses. I just learned we are switching to mileage reimbursement at .56 a mile, or higher depending on geographic location. This amount will not be taxed moving forward. I'm currently averaging 2,250 miles a month with a high over 3,000 miles certain months, and $275-$330 (now covered, not moving forward) in fuel cost per month.

With average miles at 2,200 per month at $.56 would be a little over $1,200 per month.
With no fuel and using superchargers when possible, do you think this is at least a break-even proposition when considering depreciation, as well? I'm not looking to make money on it, just seeing if I'm missing anything that would put me deep in the red?

Currently driving a 335i xdrive, now have 75,000 miles. Tires and brakes due soon, with synthetic oil changes. Hasn't been too costly so far, but some expensive routine maintenance is coming due.

I'd be looking at a 2016 CPO car in the mid $40s as my baseline.

Thanks for any of the input you have.

 

[glide]

What happens when your Tesla needs repairs, is in the shop for several weeks because they can’t get parts, and they won’t give you a loaner?

Personally I wouldn’t touch a Tesla if my livelihood depended on driving. YMMV.

 

[scottm]

Look at your highest mileage needs on a given day and check for available (super)charging on those routes to decide if EV is feasible taking into account charge times and length of your business day. Look into the actual occupancy history / utilization of those chargers. Wait time at busy stations added to charge time might push you over a tolerance limit.

My 4 year old Tesla has been reliable enough to depend on it for making a living. It's never left me stranded or was inoperative in my garage. Daily driver, commuter. Sits at work and charges all day on 120v. I hardly charge at home any more.

 

[YodaMan79]

Thanks for the insight and things to think about.

 

[xyeahtony]

What happens when your Tesla needs repairs, is in the shop for several weeks because they can’t get parts, and they won’t give you a loaner?

Personally I wouldn’t touch a Tesla if my livelihood depended on driving. YMMV.

Rental Car paid by insurance company? lol.

OP doesn't live in california, tesla congestion is not wild enough where lack of loaner teslas is a problem.

If your work is going to pay you $1200 a month to drive 2250 miles, that will more than cover a car payment. Teslas do not require regular maintenance and you're obviously paying $0 for fuel. If you're buying a CPO/used, your car payment will be far less than that.

2250 miles a month in a regular ICE at 25mpg is about $300 a month. So that's $300 month extra that goes into your pocket because you're not paying for gasoline.

 

[David99]

I drive my Model S about 4000 miles each month. It is a very reliable and low maintenance car so I would say it is a good candidate for your use. As others have said, make sure you know where Superchargers are for those days where you need to drive more than you can charge at night and how much of an inconvenience it would be having to go out of the way to get to a supercharger if needed. I have 175k miles on my car now and very low cost on repairs and parts. Battery is doing great. Teslas don't wear out like gasoline engines. You can buy a high mileage car without too much worry.

If you need repairs, Tesla will give you a loaner or a free ICE car and even pay for your gas so don't worry about that part.

 

[glide]

OP doesn't live in california, tesla congestion is not wild enough where lack of loaner teslas is a problem.

What world are you living in?

 

[Unpilot]

What world are you living in?

Probably the real one...unless he is from some other dimension...but back on topic. My car has been very reliable and an absolute joy to drive. When ever I am forced into an ICE it is like going back in time.

 

[No ICE]

I use mine for work. I have a very similar car allowance and mileage repayment as you. It works great and been very reliable. I also purchased a cpo (under 50kmikes so you get 4 years 50k warranty)
I end up pocketing a few hundred dollars a month and get to drive a Tesla basically for free! My coworkers are starting to catch on as well. If no fuel is purchased yet you are paid do it, even after your insurance and electricity cost are factored in you should be looking prettt good!! I love telling folks the Tesla is my company car completely provided to me! Best of luck you won’t look back ever!!

 

[Camera-Cruiser]

What happens when your Tesla needs repairs, is in the shop for several weeks because they can’t get parts, and they won’t give you a loaner?

Personally I wouldn’t touch a Tesla if my livelihood depended on driving. YMMV.

I've put over 60K miles on our CPO in less than 3 years and have just over 110K miles now. Driven daily as a company car. Over that time, I've been inconvenienced from my routine exactly twice, once was a flat, and another air suspension issue. Sure, I've had other planned service visits, but I've always been given a loaner and 80% of the time it was a Tesla.

It's a great work/company car. I bought it to drive it, and it has saved our company over $13,000 in gas, thousands in toll fees, and thousands of hours not in traffic (car pool lane), and hundreds of hours not at gas stations compared to our other ICE company cars.

Biggest no brainer ever.

 

[bariiings]

I live on the other side of the state but travel all of Pa, Wv and OH in my car. A little more miles on average per month.
My company pay structure is pretty similar, it’s worked out great for me!
What’s your max mileage per day driving? Do you have the ability to hit a supercharger and charge for 20-30 minutes and do work in the car?
Range is king! Depending on where your route covers I’d be certain to get the largest battery possible.