Kentucky man reveals the total cost after 5 years of owning his Tesla Model 3 and says he’s been shocked

An American from Kentucky revealed his shock at the cost of owning his Tesla Model 3 for five years in March 2023.

YouTuber Andy Slye splurged on the Model 3 a few years ago and has wondered how much the ownership costs have added up.

This includes maintenance and charging costs, as well as comparing it to one of America’s best-selling vehicles, the Toyota Camry.

With so many people still on the fence about EVs, the video provides valuable insight into the real-world costs of a Tesla.

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The upfront cost is always a factor with a car

While his comparison concerns more than the upfront payment, that can still affect the overall amount of money spent.

With the destination fees, a few upgrades, and extras, the total cost of the EV five years ago was $56,000.

With the $7,500 Federal Tax Credit, that brought the cost down to $48,500.

When you add in the $900 or so for installing a home charger, the upfront cost rises slightly to $49,440.

Service costs are another factor to consider with any vehicle, and it was no exception with this Tesla.

Over the last few years, some repairs were needed, including the window closing mechanism and the charging door mechanism.

In total, the out-of-warranty repairs cost $1,003. Add in the cost of tires and insurance and that added another $10,511 to the overall bill.

How much is it to charge a Tesla Model 3?

A big cost factor for any EV is how much it costs to charge them. So far, Slye has driven his Model 3 a distance of 119,990 miles.

That led to a total energy consumption of 30,361 kWh over the five-year period.

Slye had free Supercharging for the majority of his ownership but worked out the cost if he didn’t have that.

He factored 94 percent of his charging was done at home, with the remaining six percent on Tesla Superchargers.

Home charging, therefore, cost him $2,853, while Supercharging cost $455. That is a total of $3,308.

All in all that means the Model 3 cost Slye $64,262 over the five-year period. Compared to the Toyota Camry XSE, the Camry would have cost $64,300.

So, just $38 more to own a comparable gasoline-powered car, making it little wonder that the YouTuber was surprised at the results!

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