Unexpected Costs of Owning a Tesla Model Y after 4 Years!
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- Опубликовано: 1 июн 2024
- #3dmaxpider #floormats #tesla
Thanks to 3d Maxpider for sponsoring the video!
I've had my Tesla Model Y for almost 4 years now. How much did I actually spend and what about the hidden costs I had no idea about? How much was car insurance? What about fees and registration? I also got a Model X and a Cybertruck and those bad boys are expensive.
00:00- Intro
00:44- Cost of Car
01:24- Registration and Fees
03:25- Insurance
05:20- Maintenance
10:38- Charging Costs
12:11- Depreciation
13:24- Accessories
14:29- 3d Maxpider Floor mats
15:13- Premium Connectivity
16:17- Summary
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NOBODY EVER TALKS ABOUT INSURANCE COSTS…but they should.
It’s totally a deal breaker for most people. My Lexus insurance rate is SO MUCH CHEAPER.
Ok let’s.
I have a 2022 model 3 (which was new in 2022) with driving less than 7500 miles with male twins that started driving at 16 as soon as they got their licenses.
I have a 2023 MX LR (bought new) with driving less than 7500 miles and age 50+ living in Chicago in not the worst or best neighborhood and I just paid $2200 for 6 months.
Sorry and knock on 🪵 no accidents or tickets.
@@johnqcitizen9177 paying $800 for 6 months for mine and im 25 ¯\_(ツ)_/¯
Exactly! For my 5 Series I pay $720 insurance for entire year! I just got quoted $1,500 for a whole year on a brand new Bmw X5M.
I only insure my 2021 (bought new) Model 3 with liability insurance without collision coverage, and I am paying $348 every six months for both my Model Y and a 2000 Toyota Landcruiser (liability only as well). I think it is insane to pay thousands of dollars to insure your only quickly depreciating Tesla for collision, they are such safe car to begin with! I pay only $1000 a year to insure my $1.8 million home, It makes absolutely no sense to pay $1500 or more to insure for the collision damage of of a $25k (current market value) Tesla!
Two years ago everyone was cheering because their used Teslas were appreciating a lot in value, now the script is flipped. But I still don't regret buying my MY two years ago.
Camry Hybrid goes 630 miles on a tank of gas, and only 5 minutes to refill the tank. Tesla cannot compare to that!
@@DerekDavis213 It will still be on the road in 25 years, and will still be worth something!
@@johnminichielli8957 You are talking about the Camry of course. I totally agree.
@@DerekDavis213 Of course lol
@@johnminichielli8957 No it won't...
Wow! This is so insightful! I remember researching about my first Tesla (Model Y too), and I watched a lot of your videos to learn about Teslas! You always provide so much valuable information. Thanks Chris!
Thanks brah! Can't wait to see you at the tesla takeover!
@@EverydayChris It'll be awesome!!!! You're legit one of the speakers for the event, that's so cool! Looking forward to meeting you too!
aweeee Hyungggg back at it again. Really miss these Model Y videos.. but i think you've made them all and i've watched them all... lol. but this is a great update vid!
hahaha. THere's still LOTS to make
Informative video! Thanks
Thank you for sharing
Good video thanks so much for all this information
The secret to saving more money are as followed:
1. Charge with your utility plans as hourly this way you charge after midnight is cheapest
2. Buy insurance from Costco , my MY 2023 costs me ~750$ every 6 months
3. Get tire insurance from Discount Tires, they warranty on pothole damages, nails, you name it, if they cant patch it they will give you new tires! The insurance per tire is ~30-40$ depending on your size. My sister slashed two of her 20" tires and it was going to be over 1k+ out of pocket but with DT insurance they covered it!
They also do your tires rotation for free.
Enjoy folks :D
What happens when you need a $20k battery replacement, after the warranty is over? Thst will never happen with a Camry or Accord.
Warranty is covered for 8-10 years… by then battery cost would drop dramatically.
@@DerekDavis213the warranty will probably be void if the undercarriage looks scratched or lightly dented, which happens when driving anyway.
@@DerekDavis213 Yeah, because no combustion engine ever needs to be replaced or rebuilt... They just last forever... right?
and a battery pack replacement is more like $10-13k and the newer generation batteries should last 300k - 500k miles.
@@DerekDavis213then you must’ve totaled the car because under normal 90% circumstances you should never have to replace it in it’s lifetime and they usually degrade in cells that can be replaced at a time.
Hey Chris,
I've been following you since 2021. You played a big part in my decision to purchase a Model Y. I currently have a 2022 Model Y with 36,000 miles on it, and I'm still using the original tires, which have 5/32 tread left. Every time I drive, it brings a smile to my face. I absolutely love this car.
Thank you!! Wow pretty good.
I just received my 3D Maxspider floor mats. I love them , fit perfectly and looks great
Nice!
I live in socal and Allstate quoted me $1250 / year for model Y. Age, driving history and marital status all play into this.
Wow I just got a quote 2024 Tesla Y $1020 every six months and my 2023 model 3 I’m paying $840 every six months I have clean records no tickets for the pass 30+ years. I don’t know any insurance company in SoCal that does 1 year policy anymore. Allstate wants $1,150 every six months with lowering my bodily injury liability 50/100
@@rudeman1914 their policy is every six months I just shared what the annual cost of that would be.
Allstate quoted us $789/6 months for my 2024 model Y LR AWD....and $799/6mo for my husband's 2018 Chevy Silverado (ICE).
Hi, Chris! you are one of the best Tesla youtuber out there! You explain everything with transparency so well.
Do you recommend getting Extended Service Agreement Warranty for $1,800?
I went back and forth too! I decided against it because even a camera replacement won’t cost that much but a new seat may be 1k or more. Doesn’t seem worth it! Thank you!!
My insurance in Illinois with Allstate didn’t go up that much from my Hyundai Santa Fe Sport, considering I got quotes from other companies that were a lot more. And thanks for clarifying the filter info.
You forgot to mention as long as you get your tires rotated at least every 5k miles, the tire shop will be able to give you get credit for the miles you didn’t get through the tire’s manufacturer’s warranty.
No way. Is that a thing?
@@EverydayChris Yes, if they’re rated for 50k miles, and you only get 30k miles, the tire shop will credit you the difference for the 20k miles you didn’t get. I do everything through America’s Tire, that way they have record of every tire rotation and credit me every time I have to buy new tires, no questions asked.
Great video Chris !
Glad you enjoyed it
Thanks for your videos. I haven't got my Tesla Model Y yet... still saving money for it... I drive alot, like around 250 to 300 miles a day. I have a 2017 Chevy Cruze with over a 155k miles. This video helped me out to see how much $ I'll be spending if I get the Model Y. Thanks for this video... 😎👍
Chevy Cruze 155k miles in 7 years. That is only 60 miles per day.
So where does the 250 to 300 miles per day estimate come from?
@@DerekDavis213 that’s assuming he didn’t buy it used, recently.
Fantastic video Chris! Thank you so much for putting this together. Btw, Geico quoted me $1,235 for 6-month policy, which includes an older Mustang. Im in Los Angeles County.
You had me at waiting at a Costco gas line. Even though I was saving money, I was sick and tired of waiting in those lines and that pushed me to look at a purchasing a BEV.
So don't wait in the Costco gas line. Your time has value, right? Spend an extra 5 dollars at another gas station with no lines.
I used to spend $600 per month on gas for my Acura MDX which was also burning oil. I sold it and bought a Model 3 Performance. The insurance was $200 more per year than my Acura. With gas at $6 per gallon I would be spending $1,200 per month on gas. I have not spent any money on maintenance in 5 years.
@@mocheen4837 Some *very* large maintenance is coming for the Model 3: eventually a $20k battery replacement will be needed. ICE cars will never have that expense.
Every member in my family (besides mom) all own various teslas. No complaints from any of us. 2019 m3p, 2019 m3 lr, 2023 myp, 2023 myp, 2022 mx. No complaints. 2 chargers set up in garage, yet to use a public charger
Do you save money comparing to a regular Corolla? No
Do you save money comparing to a German car? HELL YES
Real world problems from an attorney and from Doctor everyday Jan. Your a power couple Chris
Who's the attorney!?
@@EverydayChris I thought you were?
Great video! I couldn’t quite hear what specific tires you mentioned other than Michelin. Could you tell me which ones they are? Thanks 🙏
Haha nevermind I just saw the invoice you showed. 🤦♂️
My friend has 145,000 miles on his Model 3 and has only paid for tires. He just picked up his third set. He averages 50,000 miles per set. All the money savings from oil changes, tune ups, timing belt, brakes, smogging and gas has amounted to thousands saved.
Hey Chris! I recently changed my tags over from Cali to Florida and cost me roughly $161 for my 21 MYLR!! The good thing is you can renew it every two years instead every year like in Cali!!
I need to moove. Thanks for your service
Wow, I have a Honda Accord and Lexus NX hybrid, and both comes out to $3,000 / year with Geico. Tesla's are very expensive to insure.
I love discount tire !! Been a customer over 25 yrs. They put new rims on my refreshed M3 LR.
I knew going into it my registration was going to be more expensive especially compared to my Corolla but damn son !!! 😂 I live in Phoenix and my registration is over 800 for my M3 LR 🤮🙈🙈
I too have State Farm my insurance went up 97 dollars which is ok with me.
I love the car BTW. It literally puts a smile on my face every time I get into it.
Haha nice!! Yeah ca is too expensive
@@EverydayChris I would and could never afford to live in California way to expensive and I don't like there political views.
Serious question : why do you stay 🤔🤔 I get it you have your whole life there , it would suck to have to uproot your whole way of life to move somewhere else but you definitely get way more for your buck than dealing with CA
Aaron
Would a 2014 - 2015 model s be worth buying in 2024? Is there insurance that cover battery failures too?
Hey Chris!!! What microphone are you using and hand holding the microphone?
Had my Model 3 since 2021. Actually ran into the seat sensor thing. Turns out, it was caused when I brought my car in for a detail. The person accidentally knocked some of the wire under the seat loose. A Tesla tech was able to come to my place and fixed it in like 5 min free of charge. Just traded in my Model 3 for the Y yesterday, since I enjoyed the car so much but just wanted something a bit bigger for more space.
I haven't driven an AWD car in a while, but how often do the tires need to be rotate again?
around 6 k miles!
Those CA insurance rates are insane! In MA, I pay $950 for a 2018 Model 3 Dual Motor (American Family Insurance) and $1,186 for 2024 Cybertruck AWD (Progressive).
I can't wait to i get my model 3 that crazy how insurance is
Yep! Discount tires does Tesla for free! Plus the experience was great there! In and out in 30 min
Our Tesla model 3 insurance is slightly over $1000 per year. We really like the company. Good service.
wow nice!
what insurance company are you using?
I spend about the same on gas on my 2 liter luxury sedan that sounds like a car, feels like a car on the road and it’s a lot of fun to drive. Maybe I drive a little less but can’t complain. I don’t have to worry about driving on gravel that would scratch the underneath and potentially void battery warranty.
The insurance it’s cheaper and maintenance very reasonable since doing it mostly myself.
I just bought the dryer plug for $45. It charges so fast I had to reduce it so it would leave some solar for the rest of the house. And I haven't spent a single penny on maintenance in 3 years. I probably should change my filters, but it doesn't smell bad or anything so, eh.
My state started implementing an EV biannual registration fee based on the by the weight of the vehicle. For me it’ll be an extra 150 but I lucked out as my registration was renewed just prior to the increase, so I’m good for the next two years.
Tesla is like buying a new top of the line cell phone. After 5 years, technology and features make that top of the line phone look/feel obsolete. ICE car technology & features don't traditionally change very much but that's changing as driving automation becomes standard.
You are right about Tesla obselescence. The new Model 3 offers a much quieter cabin, and less harsh ride, and new Turn Signal controls. And faster cpu than a Model 3 from 4 years ago.
I got my Tesla model 3 2024 in April my car insurance is 140 at 23 with full coverage and gap insurance, I think it’s because I’ve had a clean record since I started driving when I was 18
My 17 BMW i3 was 235.00 and my 20 Kia forte GT 357.00 to register my insurance full coverage for both is 388 a month
Love mine
I would be curious to know about charging efficiency, meaning how much electricity do you pay for versus what makes it into your actual car battery. The efficiency isn't 100% because some energy is lost to heat during charging. The car's efficiency that it shows you on the trips menu only give you the driving efficiency, and does not seem to take into account the energy used for other things or lost while idle. For example, my M3 lifetime efficiency says 216 wH/mile, but if I look at the app for how much I have charged it says 2660kWh over 10,914 miles. That comes out to 243 wH/mile
In France for a model Y 2024, I pay 980€ (approx. 1060$) a year
I have Tesla insurance on my Model 3 and Cybertruck. I had to get repair work done because of a bolt getting thrown at my car. Tesla Collision fixed my car a week early and only cost me my deposit. I’m very happy with Tesla Insurance. It’s waaaaay less than I was paying for at State Farm. My home owners insurance is more though because I don’t get the additional umbrella coverage, but it’s still cheaper than State Farm.
Awesome! Glad to hear stories like this. Tesla insurance is the cheapest and I really want to switch
@@EverydayChris Try Progressive for your Home Owners. It was the lowest I could find without vehicle coverage.
I insure my Tesla Model Y with Mercury Insurance costing me $2,206.00 annually with 2 other vehicles on the policy being a 2011 Toyota Camry and a 2001 Ford Ranger 4X4.
interesting!
We have Mercury Insurance also, and we have a 2004 Honda CRV, 2001 Toyota 4Runner, 2013 Honda CRV, 2010 Ram 1500 Truck, and 2023 Tesla Model Y and it's costing $3000.00 Annually. My husband is wanting to see if Tesla insurance is better insurance for our Model Y, your thoughts?
In California I insure my MYLR with teslas insurance for 83$ a month. 5k deductible though.
5k??? Why would you do that
@@michaeltan9512 never used insurance in my 10+ years driving. So as far as I'm concerned it's more money in my pocket. :)
1000 per year with huge deductible is expensive. It is much cheaper to insure an Accord or Camry, if you have a good driving record.
Costco insurance was the way to go, but they no longer offer it in SoCal 😢
When we ordered our Y last year, we purchased the floor mats before delivery. We actually took them with us to the delivery and installed them before driving off the lot!
So you and my friend! HAHA. Def happens lol but smart
@@EverydayChris There have been so many accessories purchased for our 3 and Y. It's almost like putting together a puzzle!
In Oregon, insurance for My tesla model y 2024 AWD is just $606/ 6 months.
I am a new model Y owner as of this year, and my 2024 MY LR is 2300 a year for insurance.
Where did you purchase the brake caliper cover
painted it!
Try that model Y in WA state $1300 registration
I’m in CA my 2023 LR Model Y insurance costs $4,800/ year with AAA 🙃
Sup Chris. SF in Oregon is 640 for 6 months.
Dang
Full coverage insurance in Finland for Model Y is 1100euro.
Everyday Chris, I still have not received the FREE 1 month FSD Supervised. I have purchased the monthly FSD at $99 for the past 2 months and NO V12 either.
Keep waiting! It's in waves!
I just got mine a week ago. Tried it twice so far. It wasn’t bad but I like driving like a maniac so I don’t need the car to drive for me. But would be good if a cop was around. 😉
You aint missing much
Costco insurance doesn’t offer in California or Florida for new policy holder members only people prior of them from moving out of those states are grandfather in until they decide to switch insurance companies
no way that sucks!
$1000/year insurance a year for my CT in Wyoming with Enumclaw.
$200 EV tax on registration which is a stepped cost dropping over 6 years. First year will be...a lot.
Yeah I'm doing a video Tesla vs a hybrid and makes me question the savings lol
I live in NJ and my Model 3 insurance cost only $86 per month since i have accident or ticket in past 10 years
Why are insurance rates higher for teslas, are they really considered luxurious vehicles 😂?My father in law wants to buy a Model Y. We are in NorCal and have triple a
According to aaaa haha
tires, disk brakes, suspension, control arms, etc. why not talking about all those items related to the super heavy weights of the electrical vehicles ?
Great video, Chris. However, there's a slight error in your numbers. While you mentioned depreciation, it wasn't included in your final total. Your true cost of ownership is actually $48,836.
Here's the breakdown:
You bought the Model Y for $60,190.
The true cost of ownership is $48,836, calculated as follows:
- $16,960 ($3,200 per year for registration and insurance, plus $40 for maintenance, and $1,000 for electricity) over 4 years
- $1,400 for tires
- $30,476 for depreciation ($20,038 in year 1, $3,820 in year 2, $3,120 in year 3, and $3,498 in year 4)
So, the remaining equity in your Model Y is $11,354 ($60,190 - $48,836).
On a positive note, if your car generated income through RUclips content, your actual equity would be higher.
Nice! Gotta have you as a guest for the numbers haha
The unfortunate joys of working in the banking and financial services industry for the last twenty odd years. Deal with far too many numbers :D Great content as always! Keep it coming, Chris!
Don't need wiper replacement due to rain sensor never working....
Two times $17 = $34.
You need to register your car in AZ
The particulate pollution from car tires is nearly 2,000 times worse than that from vehicle exhaust pipes
I know a guy that got a great price, it was great until he got insurance. His insurance increased $300. He was over budget after that.😢
Fees in California. What you expect bro?
16:38 whoa: $1,000 for 14,000 miles .. that’s huge savings vs gas .. #nobrainer especially when factoring in other maintenance savings vs ICE vehicles (!!!)
You can park in yellow zones with your commercial license plates in California!
RACV in Australia only AU$2387.83
yep. insurance for the model y is $2800 a year. registration is $730.
Where do you live? We have a 2023 model Y LR , our insurance is $1434/ year. 250/500/100. Coverage
4:46 clearly they haven’t seen the interiors 😂😂😂
**I love teslas for driving but those interiors could use a little TLC
Dual motor isn’t in case one fails. It’s for power and traction and other things. Ha
True but also false. In case one doesn’t work you can still drive the car. Say if you got into an accident
I live in L.A. County and I own a 2023 Tesla Model Y Long Range AWD and my Renewal Registration will be $268. I believe you live in Orange County so why are you paying $727 for annual Registration for the same Tesla model as myself. Something isn't making any sense!!!
I’m in La county and my 22 model 3 long range is $730. I wonder if it has to do with when we bought our cars. The market was at the peak for me (big mistake😭). Still, seems like the price difference shouldn’t be so extreme. I definitely feel ripped off by the state for this charge!
HOLY that's cheap
Isn’t registration a percentage of the price you bought your car for?
I was quoted UK Insurance for a 64 year old with clean licence for over 7 years, Tesla model Y, £1250.00. Nightmare costs
Honestly for us in Canada for me if you don’t drive a minimum of 31000miles/years and keep your car a minimum of 4/5 years it’s kinda useless to buy especially a Tesla.
Insurance for other electric cars are way cheaper.
Now the cost of buying a Tesla is way cheaper than 2 years ago but still.
I Live in Vegas, my insurance with Progressive for my 2024 Tesla MY LR AWD and a 2016 Camry is $1078 6months
wow not bad
@@EverydayChris Geico wanted $1,800 for the same coverage 😱
I pay $167 a month I’m with Tesla
I only got 30 freaking days of free premium connectivity.
I own, fully paid off 2013 Bmw 535i. I spent $12,380 in 4 years. I'm not sure I'm ready to switch to an electric car...
I priced insurance out for a model y 3500$ a year 500$ deductible and 2500 1000$ deductible.
Some home owners require to upgrade their electrical panels which cost other thousands.
Holy crap your electricity costs a lot
m paying almost $600 for my Lexus Nx2023. so i won't be surprised if Tesla will be in $1000.
$300 car payment, $50 per month super charging, $152 car insurance, $109 FSD, and $100 a year for premium connectivity. Tesla sure is taking my lunch money!!!!
Why is your insurance so high? My 2022 model3 LR is $87/month and our 2023 model Y LR is $119/month. We tried the FSD for a month for free. I don’t think it’s worth the $109/ month. PS. We have state farm with the 250/500/100 coverage
@@brucehawkinson8901 I live in west Los Angeles. State farm quoted me for $250 a month
I am enjoying every day not stopping at a gas station and the money grab from the oil companies- keep on being electrified in 2024 and beyond. The longer people resist the EV revolution the better deals will be coming from Tesla and other EV manufacturers for the ones with vision especially in California
What is laughable if how people complain about the time to charge being too long, and yet they spend more time in gasoline lines to fill up, if they have to, and they do have to, since no gas no trip, no nothing... while most people can charge up at home while they sleep.
AAA bought out Wawanesa.
no way!
When?
@@walterwhite1 the deal already completed.
I'll stick with my 2007 honda civic si
I pay $220 a month for 2023 MYP. San Bernardino, Ca
premium connectivity is only free for one month
What the
@@EverydayChris that what it was for my 2023 model 3 but I just checked the S and X is free for a year
Thanks Chris, by watching your video I end up trading my 2022 standard M3 for a used 2021 Model Y, red exterior with white interior, 7 seater with everything under warranty. Best part is the purchased price at $29k. I got Costco insurance and paying annual of $728 for the MY, I live in the Bay Area. Fully charge (100%)last winter was 295, so far this spring 310 miles.
Oh not bad
How were you able to get costco insurance in the Bay, they offer auto insurance in the Bay area as far as I know.
@@michaeltan9512 Yes, I got Costco insurance for a few years now and I was able to add the Model Y. I know for sure Costco Insurance will no longer accept new customers in California for Auto or Home Policy.
I keep going back and forth. New model 3 or the model Y? Please chime in and add your options in the comments.
Model y!
Only starts at 45000 bruh 😂
I think you need to sell model x
17+17=34 not 24, did I miss something?
Oh crap! Hahah the math has won! lol. Ty
@@EverydayChris haha, ok, NP, thanks!!!
You don't seem like an everyday chris if you own a model Y, model X and a cubertruck. Jesus does running a RUclips channel post that well?
So you have a model Y, a model X, and a cybertruck, And you're complaining about how much registration is?
Gas is still cheap!
Wasn’t buying a Cybertruck an unexpected purchase ?
VERY TRUE!