Tesla Finance – is it worth it?

If you are looking around for a new car you might be looking into different models including hybrid cars and you may be wondering what are the best deals. Perhaps you are looking at Tesla Finance and thinking is it really worth it? So I thought I’d looking into this and see if it really is value for the money.

Tesla Finance

If you are considering the Tesla Model S the there are several models available and the costs will depend on how many motors you have and on the size of the battery. I’ve looked at a middle range model the S 80D and tried to work out the costings making allowances for the running costs over a period of time and any savings you can make there.

As Tesla is an American firm then I have made my costings in American Dollars as how much you will be paying will at the end of the day be dependent on the exchange rate at the time of purchase.

Tesla Finance savings

The starting cost for the car is a whopping $80,000 and you will need to add to this the extras that you would obviously opt for when buy a car of this standard. These extras include auto pilot, upgraded audio system, executive seats in total you will end up paying around $90,000. But don’t stop reading here because this initial outlay with Finance will be slowly be recovered over the years you own the car due to the lower maintenance and gas savings.

One of the biggest savings you will make will obviously be on the fuel. The Tesla will cost you around $500 a year on average compared with petrol engines of cars of similar sizes being roughly $1200. There is also a saving on time too as there is no more stopping to fuel up. All you need to do is plug in in the night and you’re set to go in the morning.

Another major saving you will make is with the maintenance as an electric engine has less servicing requirements to a petrol or diesel engine. The battery usually lasts for 8-10 years which is probably longer that you would keep the car.

Finally by using Tesla Finance you have the option of selling the car back to Tesla at the end of the deal for the fixed price agreed at the start of the deal. On the whole this is a win win deal.