COSTS LESS than a Honda Accord! Tesla Model 3 SAVES you Money.


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Tesla vs. Honda Accord? The Tesla Model 3 SR plus is easily a better deal than the Honda Accord Sport 2.0 when considering a 5 year total cost of ownership. Tesla Model 3 costs less. All things being equal, buy the Tesla Model3 if you are considering the Honda Accord Sport 2.0 or similar and plan to keep the car for 5 or more years. If you are asking yourself “can I afford a Tesla Model 3” just remember that the Tesla Model 3 costs less than a Honda Accord! Fixed cost or variable cost, over a 6 year life, the economics of a Tesla Model 3 purchase over Accord can’t be beat.

If my videos inspire you to buy a Tesla Model 3, please use my referral code for free supercharging http://ts.la/paul3921.

Don’t forget to like and subscribe! As always thank you for watching. 😀 /TC

Spreadsheet:

https://docs.google.com/spreadsheets/d/1XKeVP68OUoilur8u31kmTyssgCO4TmfCWUELajdUewM/edit?usp=sharing

#Model3 #Tesla #TeslaCanuck #TeslaModel3
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33 replies
  1. John Fruhwirth
    John Fruhwirth says:

    Adding to daily use intangibles:
    1. Waking up to a full/preferred charge every morning.
    2. Preconditioning your car to your ideal temperature.
    3. No more trips to the gas station.
    4. Oh, and for those complaining about charging times versus 5 minutes at the gas pump:
    a) How about the time it takes to go out of your way and back to get to the pump?
    b) How about the reduction in charging times coming with 250kW charging rates?
    Lastly…
    5. That Tesla smile on your face. Priceless.

    Reply
  2. lane johnson
    lane johnson says:

    $220 for a oil change? Seriously I can change oil on all 3 of my cars and my Harley and still have cash to go out to eat a steak..lol.. I literally do not take my vehicles back to the dealer for ANYTHING but warranty work. People who do these comparisons often rack up all these scheduled maintenance for the ICE car at the ridiculous dealer price when the owner can easily do it himself for far far less or have a non dealership shop do it for far less. Another thing often left out is the Tesla suggested 2 yr 25,000 mile brake fluid flush that is anywhere from $450 to $650 (depending which tesla owner who pointed it out) and the 4yr battery coolant flush that costs between $650 to $850 (once again depending on the tesla owner I heard it from). And the claim is these services CAN ONLY be done at a Tesla service center (which in my case the closest 1 to my house is 309 miles away). So in my case I would literally have to kill probably a day and a half every 2yrs and drive 618 miles to have scheduled maintenance done on a Tesla when I could spend MAYBE 30 minutes doing scheduled maintenance in my own garage or driveway, and if I'm feeling lazy have the local shop do it in 30 minutes or less for $45 or less wasting less than an hour of my day. You can buy a lot of gas, oil and filters for $1,100 to $1,600. Having to take a Tesla to a service center or have a model unit (which I believe the closest is 150 miles away at best) for even very minor repairs is a huge inconvenience for anyone who lives in low populated areas.
    Another inconvenience and frankly high cost of owning a Tesla is parts availability. On a ICE vehicle not only can I make any repairs my car may need I can literally go buy the parts and have them the same day or in the absolutely worse case scenario I've EVER had wait a week. With Tesla only Tesla service centers or tesla certified shops can get parts, there is no strolling down to the parts store and walking out with parts. The internet is riddled with Tesla owners without their cars for weeks and months on relatively minor repair. I've seen 1 guy take over a month to get a freaking lug nut. That's insane.
    Another thing not mentioned in cost comparison is the battery. And with it being ATLEAST 30% the price of the car it will be a HUGE factor of resale value. Not only can it be accurately tested upon trade in it appears Tesla has a built in tale tale of how the battery was cared for. Like say if you charge it to 100% and go below 20% a lot it could very well effect the value of the car, same with how often you supercharge it. Not only do you have to worry about a cell going bad or the like, you also have to care for the battery.

    I'm not 100% against an EV, but I'm for sure not some nut that thinks EV' will kill ICE cars within 10 or even 50 years and pave the way for robotaxi to replace vehicle ownership within the same time frame. I will be burning gas and diesel until they quit selling it (and at that point set up diesel to run on soy or vegetable oil..lol). I particularly dont want to see what the USA will look like if the government tried to take away or make people's old hot rods, muscle cars and trucks worthless and undriveable. I did think the 2020 roadster looked pretty awesome until I seen the $250k price tag, if I'm going to drop that kind of coin it would be on the biggest baddest mid engine Corvette and a Hellcat and still have around $40k for tires and gas.. lol… It looks like if I buy a Tesla to play around in it will have to be the 3 or Y.. The 3 does look pretty sharp for a 4 door and its quick enough for me.

    Reply
  3. Chris Haguewood
    Chris Haguewood says:

    How many miles on your model 3 at this point. You forgot things like tires. Our model 3s will likely need two sets of replacement in five years where the ICE vehicle probably only needs one. Still won’t make that big of a difference but trying to be fair here. Also, is there an annual EV fee where you live? Ours is $225/yr so that’s another thing to consider.

    Reply
  4. Slim Paco
    Slim Paco says:

    Accord gets closer to 32mpg. Accord battery replacement costs $100, Tesla $20,000. Insurance and taxes are less with accord. Tesla is a nice luxury toy, but very expensive, even with a creative spreadsheet. Try comparing with a Civic, at 22K and 40+mpg. They are both small cars.

    Reply
  5. Frederic Pouyot
    Frederic Pouyot says:

    The average acquisition cost of a new vehicle in Canada in 2019 was over $43,400 in April and hovers around that number for other months. (see stats Canada https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2010000101). So the average car purchase is already about 3,500 higher than the cost of the Honda Sport mentioned as the base case comparison. In 2018, 70% of the total sales where made of 'light trucks'. *see https://www.theglobeandmail.com/drive/news/article-the-best-deals-on-compact-suvs/). Urban population is growing each year and now well above 80% (https://tradingeconomics.com/canada/urban-population-percent-of-total-wb-data.html), and most people do not need a light truck for urban life, even in Canada. For the rare times people need a pickup or larger vehicle, they could make other arrangements, rent or borrow a larger vehicle. 80% of the people in Canada drive less than 41 km per day, so range anxiety is overblown, and there are now enough fast charge stations to deal with that issue. People make choices not based on economics but perception and convenience. If economics was the number one factor and people where rational, EV sales would make a lot more than 2% of sales, I would say, that they would make 80% of sales. Another factor is risk management. Everyone has insurance to protect their assets (home..), and buying an electric car is the best insurance against fuel cost escalation and collectively against the risk of violent weather events such as floods, fires, and food price increase (related to crop failures induced buy climate chaos/global warming).

    Reply
  6. Frederic Pouyot
    Frederic Pouyot says:

    Thank you doing this video. We had, back in 2013 or so, developed a much more elaborate model (see video for EVScreen at the end of this post). I have not updated it, but I am sure that the economics would be more compelling in 2019, in spite of the fact fuel cost have not increased, but due to decrease of the cost of batteries since then. One of the few main things I would point out is that it does not make economic or technical sense to only hold on to an EV for 5 years. Since the average ownership of gas cars is close to 8 years, and since EVs are designed to last a lot longer, even when you take into account the price of changing the batteries, it makes sense to hold to an EV for much longer. I would say that 10 years is the absolute minimum. I have owned a Honda Insight for 20 years. The biggest cost of vehicles for the first 5 years is depreciation, and it is unfavorable to EVs due to higher initial capital cost. After year 5, for gas cars, the highest cost is operation and maintenance, and this is when the EV has a chance to really shine. Due to warranty considerations on the batteries, I would suggest to factor in a higher period of ownership. From an environmental perspective, it makes a more sense to hold to a car as long as technically feasible. Also, I would suggest that if you do a life cycle economic analysis, you look at the NPV and the ROI. The payback ignore the cash flows after break even is reached. In a time of low interest rates, it makes to finance EVs over as long as possible, which enables positive cash flow from the first month. Most people are cash strapped and do not want to have to wait 5 years to feel like they are making a profit, but with financing, they can start saving immediately, and that beats any other economic considerations. Note that my wife and I also have 2012 Nissan leaf and we do not intend to sell it until after 2022. Another thing I would say for anyone who does not have the credit ti buy a new EV, go and get a used one (if the older battery is sufficient). They typically can be purchased for less than 10,000 and provide great value.
    Here is the video. Let me know what you think: https://www.youtube.com/watch?v=WwYDB234IY4

    Reply
  7. Tialian
    Tialian says:

    You can't really go by the average person, because everyone's driving habits are different. Tesla might make more sense for someone who drives a lot, but for someone like me who only puts around 5k miles on their car, gas still makes more sense. I can get a 25k (US) car with all the bells and whistles I want and spend around 3k in gas and maintenance over 5 years. That much less than paying 35k for the base model Tesla, before accounting for any other costs for electricity. My last car was 11 years old when I traded it in and didn't even have 90k miles on it, I could have easily kept it for 20 years but I wanted a car with more power and quieter cabin for road trips, now that I have that car I don't see any reason why I couldn't keep it for 20 years. Someone that would trade their car in after only 6 years isn't smart with money.

    Reply
  8. nycameleon
    nycameleon says:

    Old m3 pricing… it's been a week, add $10k 🙁 now safety included w/autopilot 🙂 Skipped charging inefficiency. Also Accord insurance is lower since it doesn't have all those tech items which drive up repair costs. Left out delivery fees. m3 is safer, so don't plan on crashing if you go Accord.

    Reply
  9. Andrew 82
    Andrew 82 says:

    First, you are bias towards Tesla. Just your you tube babe say it all.
    $2000 for brakes? Are they Porsche brakes. I think you put an extra 0 at the end. Also, change oil is 200 for a Honda? It's more like $100. Why would anyone go to a dealer to do oil and brake when they over charge.

    You also didn't include the cost of money. Your friend might have to borrow with interest to pay for the Tesla. Even without borrowing, you should add some interest into the calculation.

    The only thing you are right is EV is better for the environment if the energy is from a green source. Also, don't need to warm up car in the winter it drive to a gas station.

    Everyone needs to do their own calculation and compare the pros and cons. For now, I'll wait a few years to get an EV. Heard of people locked in a Tesla for hours, crash and burn to death, and also the quality of a Chevy.

    I'll get the Model S since it's more reliable and better looking. The most important is, will you be Happy or Stressed with all the problems.

    Reply
  10. Marcin Piaskowski
    Marcin Piaskowski says:

    Agree on the green electricity aspect, but energy mix is not 99 % green. 28% is from Gas (fossil fuel) and 35 % from Nuclear (no carbon but would not call it green). But overall its better that petrol anyway.

    Reply
  11. MaxPowersLTD
    MaxPowersLTD says:

    Hi, I enjoyed the concept of this video. But there's too many missing info on the costs. Please re-visit these issues and do a secound video.

    #1 depression
    #2 insurance
    #3 resale value
    #4 initial discounts of mrsp
    #5 repair costs maintenance, wiper blades tires, head lights, brakes when they do need changing

    Reply
  12. UGLY-DUCKLING-ROASTS
    UGLY-DUCKLING-ROASTS says:

    The Tesla looks better than the ugly 2018 accords. The model 3 drives better. And it holds value better. According to Elon musk Tesla's are now Appreciating vehicles due to the software updates which improve the mechanics of the vehicles.

    Reply
  13. Matthew Cho
    Matthew Cho says:

    I have a Model 3 Mid-Range. If I'd bought the Honda Accord Sport or Camry XLE, with about $10K down, I'd be paying about $300 a month on 72 month loan. Mid-Range, I am paying about $465 with $10K down. However, I drive 2000 miles a month and have been saving $200 month in gas. Tesla wins hands down. Plus car has a 1,000,000 mile drive train and battery life of 500,000 miles. If I get 300,000 on an Accord, it'd be a miracle.

    Reply
  14. Soo What
    Soo What says:

    Hi, Quick question, next month i'm getting my Model 3 and still looking for a car insurance, what insurance do you have? how much do you pay? Monthly/Year. thanks in advance ,Gus

    Reply
  15. Wyatt Mullin
    Wyatt Mullin says:

    Such a relevant video for me. I've been looking at the Accord Hybrid vs M3. I was at the Tesla dealer today and am going EV. They have a couple of mid ranges left that they are discounting.

    Reply
  16. josh stamey
    josh stamey says:

    How was your buying experience with the model 3? I live in the us, but just curious if you guys have Tesla stores that have obtained their dealer license yet like my local one here has in NC and if you chose the route of purchasing it that way or online. Thanks.

    Reply

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