I have gone through the motions of ordering what I would like on my Model 3, using the new 60D, to see how they compare.
If I go for the Premium package, with AWD, upgraded sound system, next gen seats, 21" turbines, pearl white paint and pano roof, then I am up to £75K on a £57K base price.
That's a hell of a lot more than the £40k limit I set for the Model 3 AWD with similar options.
As nice as the S is, and I do really like it, I can't justify the extra £35K price tag.
With the £35K difference, on a 78 month HP term, this adds £450 a month to the outgoings, which if you take the £40k Model 3 option of 30% deposit (£12,000), minus the £1,000 reservation, the payments would be £346 a month (plus 5.9% interest makes it £367), which is easily affordable, £800 a month for the equivalent S60D is not.
For me, my cars get used for work. In the UK, we get paid £0.45 per mile for the first 10,000 miles and the £0.25 per mile for everything after that. With my 20,000 miles per year, this works out at £7000 towards the cost of the car. The Model 3 would cost £4,404 per year, based on the £367 x 12 months. The extra £2,596 would go towards another 30% deposit. In 60 months of the 78 month HP term, the deposit would be saved. The remaining 18 months would total at £2596 x 1.5 or £3894.
The £3894 should cover the electric price of charging at home. If I assume 250 watts per mile (based on a 0.29CD Nissan Leaf in real world testing), and my peak rate electric at 15p per unit, with no supercharging, the 130,000 miles of 78 months driving would cost 32,500KW, and at £0.15 per KW, this is £4875. I would be c£1000 out of pocket. This is worst case scenario, as I have off peak charging here, which is 6p/KW.
Based on 6p/KW, the total cost to drive 130,000 miles will be £1950, leaving me £1944 in pocket.
The actual figure is much better than this, as I have 6KW of solar on my roof, which I can utilise 100% of for free charging.
If I tried the same in an efficient 40mpg petrol car, like a BMW340 (326BHP, also £40,000 to buy), at £1.10 per litre (UK Gallons are 4.54 litres, so £4.99 a UK gallon), then I would need 130,000 miles/40mpg=3250 gallons, which would cost £16,217.50. This also needs to have road tax added, as its a polluting vehicle. This adds another £1200 to the 78 month cost.
So the point is that the Model 3 for the small business owners like myself makes perfect financial sense. The 45p/25p tax breaks from HMRC give enough money to make it cost nothing to have a decent car.
The EV vs the petrol equivalent works out as follows
Tesla Car cost £40,000
Electric cost (15p/KW) £4875
Road tax £0.00
Total £44,875
BMW340 car cost £40,335
Petrol cost (£1.10/litre) £16,217.50
Road tax (159gm/mile @£185pa)£1200
Total £57752.50
So that's a saving of nearly £13,000!!!
I chose the BMW, as they are comparable size and performance. The twin turbo 3 litre is efficient and gives a 4.8 second 0-60mph, which is where the AWD Model 3 should be (based on the sub 6 second RWD version)