Man breaks down Tesla Model 3 costs one year into ownership then compares it to BMW 320 gas car, there's a difference of about half

One year after trading a gas-powered BMW 320, this man breaks down his Tesla Model 3 costs, including fuel prices, maintenance outlays, and insurance and registration fees, to see if it really is cheaper to get an EV.

It’s become quite common knowledge that EV charging rates are lower than gas prices.

Especially with the post-pandemic price hike in fuel.

But with so many other factors to consider, are they actually cheaper to own? Well, in a toss-up between a Tesla Model 3 and a BMW 320, it’s an absolute no-brainer.

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Low Tesla Model 3 costs cut this man’s yearly car expenses down by two-thirds

On a month-by-month basis, Tesla owners have saved substantial amounts on charging prices versus refueling their old gas cars.

But, when you factor in charging kits, insurance, and maintenance, do the savings still outweigh gas cars?

Well, looking at his Tesla Model 3 and recording every penny of outgoings, YouTube personality SpawnPoiint found that his savings were substantial.

Using their home charger for the large majority of the time – only using the ‘free’ charging miles included in his deal – the man spent just $225 on keeping the battery minty-fresh for 12,000 miles.

Insurance swooped in at $550 for the year, while he spent just $50 on maintenance over the 12 months, given that they don’t need servicing.

The UK driver also took advantage of the free road tax for zero-emission cars, in comparison to the several hundred-dollar fee for a gas-guzzling BMW.

All in all, the Tesla Model 3 costs came to around $835.

Compared the the BMW 320’s annual fees of $2,500, its nearly two-thirds off.

SpawnPoiint even marked up the gas car to a respectable 55 miles to the gallon, which, for a BMW 320, is quite generous.

Is this still the case five years on?

With this study being concentrated on 12 months, covering around 12,000 miles, others have now extended this to cover much longer time spans of Tesla ownership.

Sticking with the Tesla versus BMW argument, one person conducted an extended case study up to 75,000 miles, during which he determined that on fuel alone, he’d have saved nearly $10,000.

Another man claimed that their Tesla Model 3 costs $8,000 less than his previous gas car over just 50,000 miles.

Aside from depreciation – although these EVs hold their own in that regard while premium alternatives are punished – the Tesla Model 3 costs appear to be a mega saving.

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