Can someone check my maths here. According to my calculations it is cheaper for me to buy a Tesla Model 3 for 73k and sell it after five years than it would be to keep my current car and sell it after five years. It almost seems impossible.
My current car is a BMW 1 Series, which is a fantastic little car and so far has been the best car I've ever owned (beating even in the past a Subaru WRX and a convertible BMW 335i).
If I keep my current car which is worth about 17k and sell it in five years for about 8k then it has cost me 9k to own it for five years.
For the Tesla Model 3 the calculations are..
Buy Tesla Model 3 amount = $73310, position = -$73310
Sell current car for$17000, position -$56310
Save on tax over 5 years $12943, position -$43367
Save on fuel over 5 years $6052, position -$37315
Save servicing over 5 years $4000, position -$33315
Sell Tesla Model 3 after 5 years $35555, position +$2241
So with my current car I am $9000 in the hole after five years and with the Model 3 I am $2200 up.
Calculations..
Save on tax is logbook for 90 days and probably 70% business use. I work from home and have to travel a fair bit.
Save on fuel is based on driving 15000km each year which in the BMW will cost $1800 in fuel and in the Tesla $600 in electricity.
Selling price is based on a report which estimates that a Tesla Model 3 will be worth 48.5% of it's purchase price after five years.