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Model X: Cost Comparison

flyingpanda

Member
Sep 28, 2019
11
3
Maryland
Hi, I am looking to evaluate the cost of a Model X vs. a regular luxury car. I've seem some cost estimators, but am looking at creating something that is factual, based on costs we are incurring with our Mercedes/Lexus cars.

I was wondering if anyone would like to comment on the cost calculator? I'd like it to be fair (and believable by my better half). I am in Maryland. I'm unsure about the electricity, insurance and service costs.

https://sheet.zoho.com/sheet/editor...a2a7d049be96412ccf8b7b0bb112d07737225d928d139

Thanks.
 

flyingpanda

Member
Sep 28, 2019
11
3
Maryland
For those who prefer not to click on a link, here is an image of the above link: (Doesn't look like I am allowed to edit past posts)

Screen Shot 2019-09-28 at 11.46.12 AM.png
 

K2500Z71

Member
Jul 17, 2019
211
142
Upstate NY
Your fixes per year cost for the regular car look very high unless the car is really old.

A more accurate way to do this would be cash flow analysis over the entire ownership period, including the trade in value at the end.
 

flyingpanda

Member
Sep 28, 2019
11
3
Maryland
Thanks - I've created a rolling sheet in the same XLS in the tab titled "Rolling". Adjusting costs and trade in values, seems to me the X is more expensive, purely from a 10 yr. cost modeling perspective.
 

K2500Z71

Member
Jul 17, 2019
211
142
Upstate NY
Not surprising but it also depends on what you’re comparing it to. For the Model X, you should be comparing to a BMW X5 or X7 or MB GLE or GLS (depending on whether you want two or three rows of seats). If equivalent performance is important, you’ll want to use V8 versions of those vehicles. Don’t forget that they require premium fuel also.

I didn’t do very detailed analysis as the new lower pricing of the X this year put it pretty close to a V8 X5. It doesn’t take rocket science to figure out which is cheaper if the initial purchase price of the vehicles is about the same.
 

Uncle Paul

Well-Known Member
Nov 1, 2013
6,296
6,861
Canyon Lake,CA
Comparing EV to ICE on purely financial data is kinda missing the entire process of getting off polluting gassers and into more ecologically friendly electric drive.

Almost like comparing propeller airplanes to jets.

Ladies tend to like the idea that Model X is one of the safest SUVs. Will not stink up the garage, and the carbon monoxide gas of the gassers will not endanger their kids if they leave the back window down.
The falcon wing doors make loading and loading kids and car seats easier, provides protection from rain and snow while loading and they do not fold open into the path of oncoming traffic.
The visability out the panorama windshield is amazing, especially for the kids in the back seats. The X has a huge storage capacity for shopping/Costco trips.
The Raven X rides like a dream, will never stall on takeoff, does not need to be warmed up before starting out on colder days.

Best idea is to take her, and your entire family down to a showroom and experience it first hand to see if it will fit the lifestyle.

Re-addressing your financial point, a new, long range 5 seater Model X will cost about $85,000. Fuel costs will be free if you have solar or use Supercharging. If charge up from your carage it will cost less than half what an equilivent premium (maybe even 1/3) gasser SUV will cost. Bonus is that she will never need to stand outside in the cold pumping gasoline into her car.

Maintenance costs on my 2017 X were essentially ZERO. No tune ups, air cleaners, oil changes, etc. They seem to just run and run.

Biggest costs for any of these cars will be depreciation. All large premium gasser SUVs tend to loose much of their value over 5 years. Not sure Tesla will be any better, but early reports is that they retain value much better than the gassers. Some will depend on what happens to the cost of gasoline or electricity over the next 5 years.
 

flyingpanda

Member
Sep 28, 2019
11
3
Maryland
Thank you. Yes, I do understand the limitations of a financial only model and there are other aspects. That being said, the financial model is a necessary requirement as a 'base case' in this case.

On your comment:

Maintenance costs on my 2017 X were essentially ZERO. No tune ups, air cleaners, oil changes, etc. They seem to just run and run.

I've read this in many places. Is it really zero? Given the amount of electronics, don't things need fixing? I'm curious how maintenance costs escalate after their warranty tuns out. I assume yours is still under end-end warranty.
 

flyingpanda

Member
Sep 28, 2019
11
3
Maryland
(I do wish this forum allowed editing my own posts) Specifically, I read this thread on reddit where folks start of saying low to none, but then there are comments like these that talk about several electronic components needing fixing and the fact that they are covered under warranty which is my worry point - these things escalate quickly as soon as warranty dies.
 

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