Okay... So I'm in a unique position with my career choice in terms of vehicle reimbursement and I'm trying to wrap my head around Tesla-Economics.... Would love opinions from any of you that either own a Tesla or have also looked into one...
I'm in medical sales - I switched to a different division of my company recently and with that change, my car reimbursement changed from being given a flat $450 a month plus all gas being covered at the pump to $450 a month plus a mileage reimbursement per mile I drive. With that change, my daily driver (Lincoln Navigator) makes a bit less sense and there would be an incentive to actually drive a fuel efficient vehicle.
My Navi is owned out-right, and has 120k on it. Way I look at it as I drive about 25k a year is I probably have about 3 years left on that vehicle if I keep driving it as I do now before it nears end-of-life. At that point, I'd likely buy another used large SUV (we own a boat so we HAVE to have an SUV for one of our vehicles) and expect to drop 40k which would likely be a loan initially. My company (while covering my gas) was spending about $400 a month on me in gas for a total reimbursement of $850. My new setup will basically be identical at that mileage at $450 flat plus another $400 in mileage reimbursement for a total of $850.
I can snag a used 2014 Tesla Model S 85 these days for around $50-60k. A 5 year loan on one of those would be about a grand give or take (I pay things off early but let's assume a loan). The cost to operate a Tesla based on our electricity costs here for 25k miles a year would be roughly $900 a year total whereas my gas is nearly $5k a year. That doesn't take into account that much of my charging during the work week would be done at hospitals I am at daily (for free) which offer charging stations and priority parking which is a nice perk!
My total out of pocket per month on the Tesla would be basically $75 a month in electricity and $1000 a month in a payment... so let's just say $1100. My Navi will net me a positive $450 a month till it's replaced, and then will be roughly $1100 a month when I replace it with another SUV including gas. If I own the Tesla, I can park the SUV and only use it for hauling the boat and going skiing or other weather-adverse driving situations and I can milk it for years to come with only my insurance being the ongoing cost.
So.... Short term a Tesla would obviously cost me more per month (but we're talking only a couple hundred a month of MY money to drive a ridiculously awesome car)... Long-term it's very similar in monthly cost to a SUV but I of course have a larger loan on my shoulders. Although - by the time I get another SUV in roughly 3 years my Tesla loan will be more than half- paid off.
What to do what to do... I know there are a lot of factors not considered here - oil changes go away, general repairs/maintenance are lower on the Tesla, etc...
Any thoughts? Drive the SUV in the ground and be forced to buy another SUV or park it and get a Tesla? Need to find a way to rationalize it.. or .. ... do I ??
I'm in medical sales - I switched to a different division of my company recently and with that change, my car reimbursement changed from being given a flat $450 a month plus all gas being covered at the pump to $450 a month plus a mileage reimbursement per mile I drive. With that change, my daily driver (Lincoln Navigator) makes a bit less sense and there would be an incentive to actually drive a fuel efficient vehicle.
My Navi is owned out-right, and has 120k on it. Way I look at it as I drive about 25k a year is I probably have about 3 years left on that vehicle if I keep driving it as I do now before it nears end-of-life. At that point, I'd likely buy another used large SUV (we own a boat so we HAVE to have an SUV for one of our vehicles) and expect to drop 40k which would likely be a loan initially. My company (while covering my gas) was spending about $400 a month on me in gas for a total reimbursement of $850. My new setup will basically be identical at that mileage at $450 flat plus another $400 in mileage reimbursement for a total of $850.
I can snag a used 2014 Tesla Model S 85 these days for around $50-60k. A 5 year loan on one of those would be about a grand give or take (I pay things off early but let's assume a loan). The cost to operate a Tesla based on our electricity costs here for 25k miles a year would be roughly $900 a year total whereas my gas is nearly $5k a year. That doesn't take into account that much of my charging during the work week would be done at hospitals I am at daily (for free) which offer charging stations and priority parking which is a nice perk!
My total out of pocket per month on the Tesla would be basically $75 a month in electricity and $1000 a month in a payment... so let's just say $1100. My Navi will net me a positive $450 a month till it's replaced, and then will be roughly $1100 a month when I replace it with another SUV including gas. If I own the Tesla, I can park the SUV and only use it for hauling the boat and going skiing or other weather-adverse driving situations and I can milk it for years to come with only my insurance being the ongoing cost.
So.... Short term a Tesla would obviously cost me more per month (but we're talking only a couple hundred a month of MY money to drive a ridiculously awesome car)... Long-term it's very similar in monthly cost to a SUV but I of course have a larger loan on my shoulders. Although - by the time I get another SUV in roughly 3 years my Tesla loan will be more than half- paid off.
What to do what to do... I know there are a lot of factors not considered here - oil changes go away, general repairs/maintenance are lower on the Tesla, etc...
Any thoughts? Drive the SUV in the ground and be forced to buy another SUV or park it and get a Tesla? Need to find a way to rationalize it.. or .. ... do I ??
