Full Costs Everything Owning An EV? Per State?

[Lives2TruckAround]

What would be the COMPLETE costs throughout the year or months of owning a CyberTruck?

If anyone can what would be the Dealership costs plus hidden fees, Monthly insurance costs, license plate costs, and anything else anyone can think of per state?

This is just a thread to discuss the different states and what to look out for when you purchase an EV, especially a Cybertruck, and just to help out each other ya know.


Example from myself and feel free to add more for your estimated summary:
Ev License Plate (according to cyberdriveillinois):

• Newly acquired vehicle/first-time issuance - $401 ($150 title fee + $251 registration fee)
• Annual renewal - $251

Tesla Dealership Online Agreement:

• Destination and Doc Fee - $1,200
• Autopilot - $7,000 (at $100 deposit pre-order)
• Cybertruck - $69,900

Illinois Sales Tax:

• 7.25% = $5,575.25

Insurance: Based on multiple youtubers Insurances raised current premiums 33%

• Geico (for my driving record and mutli car dscnt) - $166 /month

Grand total for Illinois Ownership is: $84,242.25 out the door everything added the first month.

Monthly cost for the rest of the year with Teslas 2.49% APR for 72 months with $0 down (just $78,100 because taxes and Ev license plates are due at the time of delivery) =

• $1,169 /Month

Damn.... finishing this for illinois Im gonna have to save to put a big chunk down
?????????

What would it be for your state/Country?

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[Crissa]

According to articles I can find, insuring a model 3 ranges from 10% more than my Mazda to 120% more. And the Model X is twice that x-x;

Vampires!

-Crissa

 

[Lives2TruckAround]

According to articles I can find, insuring a model 3 ranges from 10% more than my Mazda to 120% more. And the Model X is twice that x-x;

Vampires!

-Crissa

But.... I did spend about $4K in gas in 2020. I havent done MY math yet but I really dont want to spend anymore gas money. Plus, that tri-motor get me 11,000 additional lbs of towing than my Ford escape. I honestly can justify the 10% if the CT gives me everything I've ever wanted. I do so much research before i buy I might have to say Im insane.

 

[FullyGrounded]

According to articles I can find, insuring a model 3 ranges from 10% more than my Mazda to 120% more. And the Model X is twice that x-x;

Vampires!

-Crissa

Crissa, that isn't with Tesla insurance, is it? This may be why Elon offers insurance, due to insurance companies "sticking it" to ya. No clue, but that is the first thing I would check. peace

 

[Crissa]

Crissa, that isn't with Tesla insurance, is it? This may be why Elon offers insurance, due to insurance companies "sticking it" to ya. No clue, but that is the first thing I would check. peace

Yes, the high quotes were not from Tesla. But the 50% more ones were.

-Crissa

 

[DarinCT]

I went looking for a monthly cost of ownership (instead of total cost of ownership) for an EV and surprisingly there was a whole bunch of noise, garbage, and the occasional personal journal.

Does anyone have a no-frills url to monthly cost calculator or even better and EV comparator?

 

[Crissa]

That's a good question!

The answer is... it varies wildly. Just on this board you see people buying electricity at 3¢ and at 30¢ akWh, and that's not the whole range. Some people are used to getting annual maintenance at $300 a pop, others expect $50. And the quotes I found for insurance were from $1200 to $4800 annually.

And even Wh/mi vary pretty wildly. We have some guys on here getting 330Wh/mi with a Model 3 and other guy getting 220. One guy wears his tires to nubs, another barely uses them.

That's going to make an estimate really difficult.

-Crissa

 

[DarinCT]

That's a good question!

The answer is... it varies wildly. Just on this board you see people buying electricity at 3¢ and at 30¢ akWh, and that's not the whole range. Some people are used to getting annual maintenance at $300 a pop, others expect $50. And the quotes I found for insurance were from $1200 to $4800 annually.

And even Wh/mi vary pretty wildly. We have some guys on here getting 330Wh/mi with a Model 3 and other guy getting 220. One guy wears his tires to nubs, another barely uses them.

That's going to make an estimate really difficult.

-Crissa

Fair enough but the formula (s) are simple enough. Either my Google-fu of the internet has failed. There's financing calculators, there's insurance quotes, there's total cost of ownership but as far as I can tell there's no site that

Pulls local gas by zip code (or manual entry)
Asks for energy price (which could be crowd sourced after enough entries)
Rough energy efficiencies by model
Asks for average miles driven per month

All of these can be drilled down for more detail and the formula could be complex but this is an estimate. Additionally, a simple sensitivity analysis could provide three scenarios.

It could be extended more but now we're talking feature creep.

 

[Crissa]

Yeah, I haven't been happy with the TCO calculators for ICE cars, let alone EVs.

Edmunds has the best, but their estimates for repair are insanely high for EVs and really alot lower than I pay for my Mazda so I just don't trust them.

-Crissa

 

[cyberboi]

What would be the COMPLETE costs throughout the year or months of owning a CyberTruck?

If anyone can what would be the Dealership costs plus hidden fees, Monthly insurance costs, license plate costs, and anything else anyone can think of per state?

This is just a thread to discuss the different states and what to look out for when you purchase an EV, especially a Cybertruck, and just to help out each other ya know.


Example from myself and feel free to add more for your estimated summary:
Ev License Plate (according to cyberdriveillinois):

• Newly acquired vehicle/first-time issuance - $401 ($150 title fee + $251 registration fee)
• Annual renewal - $251

Tesla Dealership Online Agreement:

• Destination and Doc Fee - $1,200
• Autopilot - $7,000 (at $100 deposit pre-order)
• Cybertruck - $69,900

Illinois Sales Tax:

• 7.25% = $5,575.25

Insurance: Based on multiple youtubers Insurances raised current premiums 33%

• Geico (for my driving record and mutli car dscnt) - $166 /month

Grand total for Illinois Ownership is: $84,242.25 out the door everything added the first month.

Monthly cost for the rest of the year with Teslas 2.49% APR for 72 months with $0 down (just $78,100 because taxes and Ev license plates are due at the time of delivery) =

• $1,169 /Month

Damn.... finishing this for illinois Im gonna have to save to put a big chunk down
?????????

What would it be for your state/Country?

Why would you buy a luxury vehicle on payments?

 

[Crissa]

Why would you buy a luxury vehicle on payments?

Why wouldn't you, if you could afford the payments? You need the vehicle, and the loan cost is the lowest common denominator of productive value in your pocket.

Having a nicer car can pay back in how clients, coworkers see you, as well.

Lastly, when the only thing that makes a Tesla a 'luxury' is that it has 'a battery' I don't think it really is a luxury. It's a utility.

-Crissa

 

[DarinCT]

Why would you buy a luxury vehicle on payments?

At interest rates of 2.7%, yes. Do I have some other investment that is getting me much more? Nope. My personal thinking is that the financing allows opportunity like it did with our current model 3. Do I have to pay for that opportunity in interest? Yes. Did anything, good or bad, come up? No, and since we don't need the opportunity anymore, we're paying it off this year.

Sure, there are folks who can plunk down $100K and be done with it, I assert there are more folks like me or those who want a "luxury" vehicle and are simply making it happen however they can. YMMV

 

[DarinCT]

I finally found an efficiency chart. I'm sure there could be asterisks galore so let's call this what it is rough.

What I found ironic is that one of the highest costs (PG&E) in the nation (US-CA) is also where most of EV are sold. Thanks PG&E, and they even had a crap buying guide site promoting EV.

 

[cyberboi]

Why wouldn't you, if you could afford the payments? You need the vehicle, and the loan cost is the lowest common denominator of productive value in your pocket.

Having a nicer car can pay back in how clients, coworkers see you, as well.

Lastly, when the only thing that makes a Tesla a 'luxury' is that it has 'a battery' I don't think it really is a luxury. It's a utility.

-Crissa

Because my mentors taught me not to buy depreciating assets on payments.

 

[cyberboi]

At interest rates of 2.7%, yes. Do I have some other investment that is getting me much more? Nope. My personal thinking is that the financing allows opportunity like it did with our current model 3. Do I have to pay for that opportunity in interest? Yes. Did anything, good or bad, come up? No, and since we don't need the opportunity anymore, we're paying it off this year.

Sure, there are folks who can plunk down $100K and be done with it, I assert there are more folks like me or those who want a "luxury" vehicle and are simply making it happen however they can. YMMV

Tesla stock.

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