In this video and in the table below we explore the reasons a someone who is recently laid off would spend the money on a new Tesla Model 3.  At first this seems nonsensical but once you run through the logic, it makes a lot of sense.

We focus on the total cost of ownership and elimination of most unexpected variable costs like maintenance:

Car2021 Tesla Model 3 SR+2022 Honda Civic EX
Purchase Price$39,900.00$24,700.00
Sales tax$2,793.00$1,729.00
Destination & doc fee$1,200.00$920.00
5 Year Resale Value (via KBB)-$19,918.30-$9,640.80
Federal Incentive-$5,000.00$0.00
California Incentive-$1,500.00$0.00
Cash Cost after Incentives & Resale Deduction & Taxes/Fees$17,474.70$17,708.20
Price of Gas$3.50
Avg Price Of Electricity For Car$0.20
Average Miles Per Year15,00015,000
Maintenance Costs (5 Years)$980.72$3,159.00
Average Gallons Of Gas Per Year (Miles/MPG)450
Average kWh Of Electricity Per Year For Car (Miles/4)3,750.00
Average Cost Of Fuel Per Year$750.00$1,575.00
5 Year Total Cost of Ownership
Tesla Model 3 vs Honda Civic

The 7 Reasons to Buy a Tesla Model 3 instead of a Honda Civic

1: About the same up front cost a lowly Honda Civic
2: No maintenance cost or maintenance hassles
3: No gas to buy or pumps to freeze or boil at while waiting in line
4: Free electricity from the office and my solar array
5: No price shocks from OPEC
6: Reduced cost of Insurance
7: Cheapest total cost of ownership

7 Reasons to Buy a Tesla Model 3 Instead of a Honda Civic


Sedique Majid · November 14, 2021 at 10:49 pm


    Ian Matthews · November 19, 2021 at 8:55 am

    Hi Sedique;

    EV’s are just less expensive AFTER A FEW YEARS, fun to drive and easier to drive. The argument I get from people is the same as my solar panels; it will take a few years to be cash positive oh-my I would rather save $10K today than $20K over ten years. Many consumers are very short sighted and that is an opportunity for those who want to get ahead.

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