A man in the UK has shared the total cost of owning his Tesla Model 3 over a period of four years, breaking down all the expenses involved in maintaining and running the car.
Electric cars are becoming increasingly popular, and owning one is often thought to be cheaper over time. However, the actual cost depends on the make and model, and this individual, known as “Electric Vehicle Man,” decided to detail the costs associated with his Tesla Model 3 after driving it for 60,000 miles.
In a video shared in April 2024, he explained his costs began with just two MOTs (vehicle tests) and one service, which amounted to £221.50 in total. At the time, his car tax was £0, but he pointed out that starting April 2025, the vehicle tax for electric cars like his will increase to £195.
Next, he discussed the costs for tyres, as he had to replace them a few times during the four years. Over this period, he calculated the total cost of 12 tyres at £1,980.
When it came to the “fuel” cost, he estimated the expenses based on his mileage. He was fortunate to do most of his charging at home, with 50,000 miles charged at home and 10,000 miles using public charging, specifically the Tesla Supercharging network. He deliberately overestimated the costs to be on the safe side and ended up calculating £1,000 for home charging and £750 for public charging over the 60,000 miles, which is considerably less than the cost of petrol, which would have amounted to £7,855 during the same period.
Additionally, he calculated the depreciation of the car over four years to be £22,000. While he didn’t include his insurance cost in the total due to its variability, he mentioned it had been around £600-£650 per year.
After adding everything up, excluding insurance, the total cost of owning his Tesla Model 3 came to £25,952. This means the car has cost him approximately £6,488 per year.
His breakdown has sparked a mixed response from viewers, with some questioning the depreciation cost, while others found the information insightful and valuable in understanding the financial commitment of owning an electric car in the UK.
