Man Breaks Down Costs of Owning Tesla Model 3 Over 4 Years and 60,000 Miles – Comparing It to What He Would Have Spent on Gas Over the Same Period

Electric vehicles (EVs) have gained momentum as a sustainable alternative to gas-powered cars. Rising fuel prices and concerns about carbon emissions drive more people to consider EVs because of their cost-effectiveness and environmental benefits.

Andy Rogerson, known on YouTube as Electric Vehicle Man, offers a firsthand perspective on the actual costs of owning a Tesla Model 3. Over four years, he has driven 60,000 miles and tracked every expense, including charging maintenance and taxes.

Analyzing Andy’s experience reveals whether EVs deliver on their promise of savings and efficiency compared to gas-powered vehicles. His journey provides valuable insights into switching to an electric vehicle’s broader financial and practical implications.

Breaking Down the Costs of Tesla Model 3 Ownership

Andy Rogerson’s Tesla Model 3 ownership experience breaks down costs over four years and 60,000 miles. Each aspect of ownership contributes to understanding how EVs compare to gas-powered vehicles regarding financial efficiency.

Charging Costs

Andy’s home charging covered most of his mileage. Around 50,000 miles of energy came from his home setup, while the remaining 10,000 miles used Tesla’s Supercharger network. Home charging cost him roughly $2,140, significantly less than he would have spent on gas for the same distance.

Maintenance Expenses

Servicing costs stayed low due to electric vehicles‘ simplicity. Unlike internal combustion engine cars, Tesla’s electric drivetrain requires fewer components, reducing the risk of major repairs. Over four years, Andy spent $270 on servicing, which included routine checks and inspections.

Tire Replacements

Due to their instant torque and weight, performance-oriented EVs like the Model 3 often demand high-quality tires. During this period, Andy replaced three tires, which cost $2,422. While this is higher than average for a gas-powered car, the expense reflects the Model 3’s sporty driving dynamics.

Tax Benefits

EV owners in the UK currently enjoy tax exemptions, and Andy paid no vehicle tax during his ownership. However, upcoming policy changes in April 2025 will introduce a yearly tax for EVs. These changes could impact future buyers’ overall savings.

EVs vs. Gas-Powered Cars: A Cost Comparison

Driving 60,000 miles in a Tesla Model 3 cost Andy $2,140 in electricity. A comparable gas-powered car would have required an estimated $9,600 worth of fuel over the same distance. This highlights a significant cost advantage for EVs, especially as electricity prices remain relatively stable compared to fluctuating gas prices.

Electric vehicles like the Tesla Model 3 have fewer moving parts than internal combustion engine (ICE) cars. Therefore, EVs are unnecessary for standard maintenance tasks such as oil changes, spark plug replacements, and transmission repairs. Andy’s servicing expenses totaled only $270 over four years, far lower than the average maintenance costs of gas-powered cars, which can easily reach several thousand dollars in the same timeframe.

Tax benefits further enhance EV affordability. In the UK, Andy enjoyed four years of tax-free ownership due to current incentives for EVs. Starting in April 2025, however, EV owners will face a yearly tax of £195 ($238). Despite this policy shift, EVs may offer long-term savings compared to gas cars, which typically incur higher annual tax rates.

Pros and Cons of EV Ownership Beyond Costs

Pros:

• Environmental Benefits: Electric vehicles significantly reduce carbon emissions. With zero tailpipe emissions, EVs help improve air quality and reduce dependence on fossil fuels, aligning with global efforts to combat climate change.
• Lower Long-Term Costs: EVs save money on fuel and maintenance over time. With no need for frequent oil changes and fewer mechanical components that can break down, long-term costs are considerably lower than those of gas-powered cars. Additionally, the lower cost of electricity compared to gasoline keeps operating expenses in check.
• Tax Incentives and Subsidies: Many regions offer tax breaks and subsidies to encourage EV adoption. These incentives can reduce the initial purchase price and make EV ownership more financially attractive. For example, Andy benefited from tax exemptions during his ownership, which helped offset the costs of buying and maintaining his Tesla Model 3.

Cons:

• High Upfront Purchase Price: EVs, particularly models like the Tesla Model 3, often have a higher purchase price than traditional gas-powered cars. Despite long-term savings, the initial investment can be a significant barrier for many buyers, especially without sufficient regional subsidies or tax benefits.
• Charging Infrastructure Challenges: While charging infrastructure has improved, it remains one of the biggest hurdles for EV owners. Access to charging stations high-speed chargers, may be limited in certain areas. This makes long road trips or charging in rural areas more challenging compared to the convenience of refueling a gas car.
• Battery Degradation and Replacement Costs: EV batteries can degrade over time, reducing their driving range. While most manufacturers offer warranties, battery replacement can be expensive once the warranty expires. While costs may come down as technology advances, battery replacement remains a significant consideration for EV owners in the long term.

Tips for Reducing EV Ownership Costs

Setting up an efficient home charging system offers significant savings. Installing a Level 2 charger ensures faster and more consistent charging at a lower cost than public stations. To make the most of home charging, charge your EV overnight when electricity rates are typically lower, and avoid frequent use of Superchargers unless necessary, as they tend to cost more.

Integrating solar panels with your home charging system further reduces electricity bills. By generating your renewable energy, you can charge your EV with minimal costs and reduce reliance on the grid. With advancements in solar technology, the initial setup cost has become more affordable, and many regions offer financial incentives for solar installation.

When selecting an EV, it’s essential to balance price, range, and performance. Opt for a model that fits your daily driving needs without paying extra for features you won’t use. Evaluate factors like battery range, charging speed, and available incentives to ensure you get the best value for your investment.

EVs require less maintenance than gas cars, but there are still ways to extend their lives and minimize costs. Regularly monitor tire pressure to improve efficiency and reduce wear. Monitor software updates, as they can enhance vehicle performance and reduce the need for costly service center visits. Maintain proper driving habits to preserve battery life and maximize range.

Stay informed about local government incentives, tax breaks, and subsidies for EV owners. These can significantly reduce the initial purchase price and make maintenance costs more manageable. Many regions offer rebates for EV purchases or home charging equipment installation, so it’s crucial to take advantage of these offers when available.

The Future of EVs: Trends and Predictions

Battery technology is advancing rapidly, with improvements in energy density and charging speed reducing costs and efficiency concerns. The development of solid-state batteries and innovations in lithium-ion technology promise to lower prices and extend the lifespan of EV batteries. These advances will make EVs more affordable and practical, narrowing the gap between EVs and traditional gas-powered cars.

The charging infrastructure for EVs is expected to expand significantly in the coming years. Faster chargers and more widespread stations will reduce wait times and make long-distance travel easier. Governments and private companies invest heavily in expanding charging networks, ensuring EV owners have reliable access to charging options. As infrastructure improves, concerns about range anxiety will diminish, and EVs will become a more feasible option for a broader audience.

While EVs continue to dominate the electric transportation market, hydrogen and hybrid vehicles present alternative solutions. Hydrogen cars offer quick refueling times, but the lack of refueling stations and high costs remain significant obstacles. Hybrid vehicles, which combine gas and electric power, offer a middle ground by providing fuel efficiency without requiring complete reliance on charging stations. However, as EV technology improves and the infrastructure grows, EVs will likely remain the primary choice for eco-conscious drivers.

A Smart Investment for the Future

Owning a Tesla Model 3 has proven to be a cost-effective choice, especially when compared to the expenses of driving a gas-powered car. With only $2,140 spent on electricity for 60,000 miles, a significant saving over the $9,600 that would have been required for gasoline, and low maintenance costs, the Model 3 demonstrates that EV ownership is more economical in the long run.

Beyond the immediate financial benefits, switching to an electric vehicle offers broader implications, such as reducing environmental impact and contributing to sustainability efforts. Lower emissions and reliance on renewable energy sources help to combat climate change, while long-term savings on fuel and maintenance make EVs a wise financial decision for the future.

However, evaluating your circumstances is essential when considering a switch to EVs. Factors like driving patterns, access to charging infrastructure, and regional tax incentives should all influence your decision-making. While the transition to electric vehicles presents many benefits, ensuring that it aligns with your needs and lifestyle is essential.