Although you’ll save on gas costs when you own the Tesla, you’ll still be paying the cost of electric power for your car’s power. If the price of powering your Tesla for an entire year is more than $2,000, you’ll save $800-$1,000 every calendar year for fuel.If you’re driving a bigger vehicle but driving a smaller one, your savings may be greater. To determine the exact amount, find the fuel cost per year for your current vehicle. After that, subtract $2,310, the typical cost of fuel taking 15,000 miles, in the case of a Tesla.

Gasoline Costs vs. Electric Charging Costs

Teslas charge using an electrical plug, but there are no engines. Vehicles that run on gasoline rely on the constant availability of oil and refined gasoline.Thus, the cost of energy fluctuates due to global conflicts and the rising cost of inflation triggered by the US government pushing prices up. This volatility could dramatically impact the cost of gasoline and electricity.Remember that the calculations you are doing now could change dramatically and unexpectedly when you next run an analysis of comparatives.After getting that short disclaimer over now, let’s put together some factors to assess the cost of having an electric car Tesla as opposed to a gasoline-powered vehicle.For a simple analysis, the average vehicle owner travels 12,000 miles annually.

How Much Money Do You Save With a Tesla?

It’s challenging to determine what you’ll save on the price of a Tesla without identifying the exact model you’ll buy. Also, you need to assess it against the exact model of the car you are considering so you can evaluate the cost precisely.

You’ll also have to learn about the tax code at local, state and federal levels.With all these factors, Tesla estimates that you’ll save nearly $5,000 when purchasing the Model 3 with rear-wheel drive.While there are plenty of things to think about, there are ways to save a significant amount of money by purchasing a Tesla.If you also take the opportunity to combine the purchase of the Tesla vehicle with solar roofing, you’ll be able to cut down on energy costs more!