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5 year Total cost easy chart comparison MS, MercCLA, Volt, Fusion

Assumptions: 5 year horizon, Pricing in Ontario for MS with 60kwh, and $3k of options, 13% sales tax, $8500 gov rebate only for MS and Volt, $5500 rebate for fusion. My trade in gets 11k and is applied to all cars.
Net balance is after tax, trade in, and rebates applied. SQ means status quo i continue to drive my old SUV. Insurance for ALL was surpisingly almost identical so i omitted for simplicity.

MS Fusion Volt MB CLA SQ
Net balance 71000 27500 25000 31600 0

Gas/Elec/Maint 1300 2500 2100 13000 17000
5 years

My 5 yr cost 72300 30000 27100 46000 17000

Residual Value 44000 13000 13000 24000 4000
of car 5 years
-------------------------------------------------------
TRUE 5 YR COST 28300 17000 14100 17600 13000

I find is astonishing to see that the MS cost to me is only about 10k more than the benz, and even more so only 15k more than it is to just drive my 7 year old SUV with 125000 km on it, which is completely paid off already.

Of course the big assumption i made here is the residual values, which are guesstimates of mine. BUt i think 44000 after 5 years for MS which new was 90000 with tax is reasonable...i think.

Damn, sorry but after posting the spacing of the chart got squeezed.

Anyways, just want to also point out that the cost difference would be further reduced if one were to extend to 7 or 8 years, as in those years the high gas and maintenance would make up the gap for the ICE options.

---------------MS---Fusion---Volt---MB CLA----SQ
Net balance---71000--27500---25000--31600-----0

Gas/Elec/Maint-1300---2500----2100--13000---17000
5 years

My 5yr cost---72300--30000---27100--46000---17000

ResidualValue-44000--13000---13000--24000----4000
after 5 years
-------------------------------------------------------
TRUE 5YR COST-28300--17000---14100--17600---13000

Repost to read chart easier

Not sure what assumptions you used but the service for the Model S is more than $1,300 in 5 years. Tesla recommends a once a year minimum service which is priced at $600 if not purchased upfront. That alone would bring your 5 year cost to $3,000 plus the cost of electricity.

I think you need to be fair when comparing these cars. As I said before - there is no way to justify the initial cost of those cars compared with the Model S. You are comparing apples with oranges.

If you want the Model S, then just get it. If cost is THE driving factor, then get a Volt or the Mercedes.

What did you do for electric prices? Assume about .35 kWh per mile. Add a little more if you will drive all winter and use the heater. Then take your electric bill and determine your cost per kWh and then you can figure out your "fuel" costs. Until you get a free charging solution nearby (SuperCharger or some other method) I'd presume you will charge at home.

Given this weather now, I'm wondering if winter will ever come.

Ontario has some pretty good electric costs while Quebec has even better. It's amazing that there aren't more EVs in the two provinces. BTW - in Canada, the 2014 Volts have been dropped in price by about $6k.

I assumed my total electrical cost for the MS would come in at about $250 per year, given that i will be allowed to plug in at work during most work days.

And night time it costs 6.7c / kwh here where i am.

And Tesla says maintenance isnt really required, only an option if you want. I assume that in first 5 years very little maintenance, since anything that would go wrong would be covered by warranty in that time.

Another factor in this chart was i assumed gas prices as of today.

By 3 years it could reach over $2 per litre or even double at some point in next 6-7 years.

Notch up another point in favour of the MS

@carefree
Cost isnt the driving factor but its a big one for most people.

But when i looked at this chart in that way, i couldnt believe how 'little' extra cost it was for the MS over the other options.

When residual values are taken into account.....the difference is paltry......

@Kaboom - Your numbers get even better if you projects it out to 10 or 15 years. I realize that most drivers don't typically keep their cars more than 5-7 years due to repairs/maintenance issues.

I suspect the instant torque and acceleration will still out run most ICE even after 10 years on the road.

@Matthew98 - True, but I bet that's less the case with Tesla owners. You're buying a cutting edge, high-tech, stylish and brand new product so you're likely the type to be tempted by the "latest/greatest" in a few years. If you're buying a 20k Accord, its prbably realistic to think you'll keep it for 10 years. But I wonder how many Tesla buyers will keep it that long - even if they jump to another Tesla when new versions and new models come out. I've been trying to rationalize one against leasing a BMW 3 series, but I'd need to keep it atleast 7 years to make it work. And I know there would be something that would tempt me more in those 7 years.

Kaboom

I live in Ontario as well and it does not cost 6.7 cents at night for electricity.

You are using false numbers.

The "real" cost in Ontario is around 12 cents at night. 6.7 cents plus 1.0431 for loss in the electrical lines, +1.4 cents on another line on your bill plus about 3 cents for each kilowatt for delivery plus as you know HST of 13%.

The cost is around 12 cents plus what I found out depending on how you charge a 120 or 240 volt another 10 or 15% loss charging the battery.

Use 15 cents for real world at night charging.

What Volleyguy is saying is make sure you are accounting for:
- delivery charges on top of the lower TOU generation rate.
- consideration for charging losses of up to 25% over the battery replinishment (ie. to fill 50kWh in the battery, takes 60%+ from hydro)

$250 for a year is about appx 2500 kWh @ .10/kWh or about 7500 miles per year. Not a lot to fuss about - but you would need to add taxes and so forth on top of that. But estimate higher - maybe 3000 for things like Air Conditioning usage, winter heater and lower miles per kWh and so on. I'd go $350 for 7500 miles (appx. 10,000 km).

You guys are probably correct that i didnt assess for those extra hydro delivery fees.....however, most work days i will likely be plugging in at the office, even if its just a regular 110 v connection at 4.5 km / hour. If its charged for 7 hours there, thats still almost 30 km, enough to cover my daily commute

Kaboom

It is great but our Hydro company is very misleading. There is a LOT of fixed kwh that do not care if it is day or night.

I called our local company to get the "real" rates. It is still the way to go but you will not pay 6.7.

Good point on factoring in all the fees. My nominal rate is like .18, but factoring in all the other stuff its more like .33!

Kaboom;
You can force fixed font for DIY tables with the preformat tag, "pre":

                 MS   Fusion   Volt  MB   CLA SQ
Net balance     71000  27500  25000 31600     0

Gas/Elec/Maint   1300   2500   2100 13000 17000
5 years

My 5 yr cost    72300  30000  27100 46000 17000

Residual Value  44000  13000  13000 24000  4000
of car 5 years
-------------------------------------------------------
TRUE 5 YR COST  28300  17000  14100 17600 13000

The rule of thumb most car dealerships use when leasing a luxury or premium car, depreciate 55% or more in a 3 year lease where it would be more feasible for the lessee to buy the car after the lease period, or the dealership stands to profit from reselling the car at more than 50% of the original purchase price.

Hmm, but i dont think that MS will depreciate 55% in 3 years.

In 5 years i thought close to 50% (of tax inclusive) amount. Too optimistic?

Well main data point we have on residual so far is Tesla's buyback guarantee of 50% after 3 years (roughly because that's 50% of a base s60 and options are at 40%).

Also, keep in mind, any vehicle in the list can benefit from the sale price of your SUV. If it can sell for $6000 or so, take that off the price of the new cars.


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