These Are The Real Tesla Model S Ownership Costs

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Title: These Are The Real Tesla Model S Ownership Costs Originally reported on www.hotcars.com by HotCars

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The Tesla Model S continues to be a top choice in the luxury EV sedan category, and it’s easy to see why. The two versions of this ride, the base one and the Plaid, both offer exceptional performance and styling. The Model S comes with 670 horsepower, a 0-60 mph acceleration of 3.1 seconds, and 405 miles of driving range as standard. The Model S Plaid takes these specs one step farther with 1,020 horsepower, a 0-60 mph acceleration of 1.99 seconds (!), and 396 miles of driving range.

When we add the sleek and appealing appearance to the picture, it’s hard to say the Tesla Model S is anything less than an admirable performer. Thanks to the roomy interior overloaded with tech features, it’s also an incredibly comfortable and entertaining EV that can take you anywhere.

But the Tesla Model S is not anywhere near a cheap ride, and with so many affordable EVs hitting the market recently, one has to think twice about which one to choose. Of course, it makes sense to go for the Model S for everything it offers. The question is, if you do decide to spend a significant amount of money on your fancy new EV, how much will it actually cost you to own it?

Here’s a rough estimate of the Tesla Model S ownership costs that may help you decide whether this EV is for you or not.

RELATED: 10 Actual Supercars That Are Slower To 60 MPH Than The Tesla Model S

How Much Will It Cost You To Get The Tesla Model S?

Let’s start with the price of the Tesla Model S. This attractive EV starts at $104,990 for the base trim and an eye-popping $135,990 for the Plaid. These are the prices without any extras whatsoever. You only get one standard exterior color, regular 19-inch wheels, and an all-black interior. Tesla even charges $200 to $400 for charging connectors.

Therefore, if you want any extras with the Tesla Model S, expect to pay about $1,000 to $3,000 more. Play around a little with exterior and interior colors, wheels, and other niceties, and you can spend $10,000 more in a breeze — not to mention that the Autopilot costs $6,000 and the full Self-Driving system $12,000.

So, is there anything to justify this sky-high price other than the design of the vehicle itself? Let’s see whether you may expect to save some money over time with the Tesla Model S.

RELATED: One To Watch: Tesla Model S Plaid Takes On Two Muscle Cars

Ownership Costs Breakdown: Fuel, Insurance, Maintenance, And Depreciation Of The Tesla Model S

Of course, the Tesla Model S aims to lower the expenses of ICE vehicles through fuel economy, first and foremost. With an impressive driving range and the combined fuel economy of 120 MPG for the base trim or 116/101 MPG for the Plaid, the Tesla Model S should save you from $550 to $650 annually. Translated onto the five years, that’s from $2,750 to $3,250 in cost savings.

However, it’s good to keep in mind that the driving range of the Tesla Model S depends on the driving style, the engine, and other similar factors, much like in the ICE vehicles. You may end up with lower or higher cost savings than the estimated rate.

Now to the less positive side, the Model S is a little expensive to repair, like all other Tesla rides, which means its insurance may be higher than the other EVs. Tesla cars use more expensive equipment and tech than most regular rides and can be repaired only at approved body repair shops, all of which adds to the insurance costs. Moreover, the Model S has an aluminum frame that is more challenging to repair than a steel one.

Therefore, in case of unexpected and unfortunate damages, you can expect to pay several thousand dollars without blinking. The insurance itself will cost you anywhere between $2,200 and $5,000, depending on the location, insurer, and similar factors.

What balances things out a bit is the cost of regular maintenance. Generally, Tesla cars do not require too frequent scheduled maintenance for normal wear and tear. In five years, you may only need to pay up to $2,000 for standard replacements of cabin air filters, brake fluids, and similar. But again, the final cost will depend on the way you drive and care for your vehicle.

Another good thing about the Tesla Model S ownership is the depreciation value rating. All Tesla models hold their prices up quite well, though not in the first three years because of the government’s incentives that motivate people to buy completely new EVs. Despite this, however, you can expect the Tesla Model S to have a solid resale value after years of use.

In summary, the Tesla Model S makes a good investment because of the fuel savings, undemanding scheduled maintenance, and solid depreciation value rate. It’s also a vehicle with excellent performance specs that ensures an enjoyable ownership experience. However, one should keep in mind the high repair and insurance costs to avoid any surprises after the purchase.

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