Driving an electric car can be very economical. Now that the Tesla Model S has been released, using an electric vehicle for average daily commuting can be a reality thanks to the 230 mile range on the lowest end model S. In this article you will learn how long it will take for the Tesla to pay for itself.
Most families are spending $300 a month or more on gas, around $5,000 a year, so if you drive a Model S for 12 – 14 years you will have saved the amount of money it cost in gas. At a loan price of $609 per month from Tesla, you’ll probably be paying $100 – $300 less than you did per month when you combine the gas payment and car payment.
A question that comes up is electricity cost. If you live in an area where you get lots of good sunlight, you can outfit your roof with a full solar system and have the power to completely charge your Tesla model S time after time. Chances are you will also have plenty of solar power left to power other appliances in your home, which will bring down your electricity bill.
Owning an electric vehicle has become easier and more of a reality thanks to Tesla making a vehicle that actually has significant range. The highest end model S can get well over 300 miles range city on a full charge. Tesla is adding charging stations in the United States and eventually plans to cover the entire United States with free charging stations. They have also created a battery swap system where you can have your entire battery array changed out in less time than it takes to fill up a vehicle with gas.
You may not experience extreme savings just by driving a Tesla, but you will see significant savings as a whole. For example, if you get the solar system it will completely eliminate all energy costs for a vehicle. However, because you are generating solar power there will be power left for other things, bringing your total home electricity cost down. In states that support electric vehicles (especially California) you can get big discounts and perks for being part of the electric vehicle club.
So how long does it take for a Tesla Model S to pay for itself? 12 – 14 years solely on fuel cost. However, owning an electric vehicle will most likely encourage you to make other changes that will cause you to save more money, such as renewable energy sources. If you are in the market for an electric car and can afford it, the Tesla Model S is your best option. Tesla will also soon be coming out with a family SUV and a lower priced option.