As a recent Tesla owner myself I will say not having to pay for as much gas and paying less charging at home is nice. HOWEVER. To buy a Tesla JUST FOR GAS PRICES is STUPID. It should be a financially sound choice and have other reasons in there as well. Saving on gas is a small benifit that doesn't really pay off unless you end up owning the car for like 5-10 years.

@davidt1069

2 жыл бұрын

How much has charging at home added to your electric bill?

@jbivphotography

2 жыл бұрын

@@davidt1069 between $15-$25 a month. which is way lower than what we originally had budgeted out for gas.

@jml9550

2 жыл бұрын

Totally right. A Tesla is $63K where you can get a Corolla Hybrid at $30K out the door. That $33K buys a lot of gas even a $5 per gallon and Corolla gets 50MPG. Tesla is a fun car and a choice, not a financially smart decision.

@Rsmith420

2 жыл бұрын

@@jml9550 you still have to pay for engine maintenance, brakes, oil changes, etc with that hybrid car.

@jacobhuntley731

2 жыл бұрын

Idk man no engine maintenance, and with older teslas the supercharging is free, I’m a big driver and I save quite a bit every week.

I was recently able to sell my van and buy a plug in hybrid for a 5k difference. Gas went from $500/month to about $60 and the electric bill went up $20. So I’m happy to put over $400/month towards the payment for about a year and a half or so and then enjoy my gas cost being almost nothing. Sure, I could be saving even more if I took the money from selling my van and bought a 10+ year old camry then invest the difference but you can’t say that switching to an electric never makes sense financially.

@monikaw1369

2 жыл бұрын

How much is the battery for your vehicle?

@parkershaw8529

2 жыл бұрын

At $5/gal, $500 buy you 100 gal, at 20 mpg, you drive 2k miles a month and 24k miles a year. That is far more than an average American. So, EV might make sense for you, but you are really an outlier.

@Rsmith420

2 жыл бұрын

@@monikaw1369 how much is the gas tank, specifically, for your car? Please let go of this myth that you need to buy a whole new battery every few years.

@Emmanuisaac

2 жыл бұрын

@@Rsmith420 thank you! And even then batteries are usually have warranties of 10 years which most engines don’t

@tinhorn900

2 жыл бұрын

@@parkershaw8529 I'm in Canada so it's more like $7.50/galon ($2/litre) which is about 1300 miles per month. But I agree I think everyone should look at their own personal situation and decide.

The problem with people like this. They have already made up their mind about buying the Tesla, and is now trying to justify that decision by blaming fuel.

@faradaysage15

2 жыл бұрын

there's people worse than this, the ones who brag about how many EV cars they have and that supposedly other people whine to them about gas prices which didn't happen. there's a couple in this thread

@mongoemaniac247

Жыл бұрын

Exactly what it is. At that point let them learn their lesson

@imbluz

Жыл бұрын

I personally don't mind spending gas money, because I only drive about 8K miles per year. I fuel up maybe twice per month.

*Just bought a model s 2019 with FSD. I didn’t buy it to save money on gas. If you can afford a Tesla you don’t care about gas prices* 😂

@unfairsanic5089

2 жыл бұрын

@@vanadinite01 lolz are you sure about that buddy? 🤣

@Distress.

2 жыл бұрын

@@vanadinite01 I think you're richer than you realize. Rememeber the median income is 36k.

@unfairsanic5089

2 жыл бұрын

@@vanadinite01 testlas are not expensive if you can pay cash for it, in the long run they will become so expensive to maintain

@mox542

2 жыл бұрын

Well said

@hamm8934

Жыл бұрын

@@unfairsanic5089 not anymore expensive in the long run as any other proprietary company like Jeep or Subaru. You should really do the research on this. Low end Teslas are like 30-35k

I love this guy. He is not afraid of Dave like all the others. I love Dave too.

@wannabecarguy

2 жыл бұрын

How is it possible to save money by taking crude oil and converting it to electricity then sending through inefficient wires into a battery that steals 10% of the electricity . Some of these batteries will end up in the ground toxifying the soil.

@egs2169

2 жыл бұрын

@@wannabecarguy the batteries are recyclable

@patty109109

2 жыл бұрын

This is the first time I’ve ever seen anyone other than Rachel talk back to dave and yes it’s good for the show :)

@pvmvertigo7095

2 жыл бұрын

@@wannabecarguy Coal/Oil power plants are very effecient due to size vs a cars engine (90% converted to usable power vs maybe 30%). For electric cars power goes over the wire with negligible loss vs transporting gasoline by truck. Oh and gasoline is only a portion of refined crude, so add refining to the energy loss. Also when braking all the energy the engine used to get you going gets dissipated as heat vs going back into the battery with an EV. Don't own a Tesla but the engineering is sound, if expensive.

@Water4Mart

2 жыл бұрын

That dude was pretty brave, like a gangsta that doesn't need that job. I love it!!!!

Electric cars are still too expensive to justify buying one to save money on gas unless you have the kinda money you shouldnt care about gas prices.

@Rsmith420

2 жыл бұрын

They’re not when oil changes and all the other maintenance on a gas car add up.

@blackworldtraveler3711

2 жыл бұрын

@@Rsmith420 Most people that buy Teslas are broke. It’s the interest they pay banks with financing that add up like the dendrite deposits on those batteries. One monthly payment is more than what I paid for oil changes and maintenance in over five years.

@montavio

2 жыл бұрын

not a nissan leaf. but I wouldn't be caught dead in one of those things

@trex2092

3 ай бұрын

And have you priced Tesla's lately or just relying on rumor control prices. So $36K is too expensive for you. get a bicycle.

The same thing was going on 10+ years ago when gas was high. Except back then you were selling a car that gets 15-20mpg to buy one that get's 25-30, and still thinking it would save money somehow. :D

Georgia Power charges $0.014c per KW for overnight charging. That's $1 for 200 miles in my Tesla model Y.

@mrcwoodworks4523

2 жыл бұрын

Wow that’s awesome ! I can’t wait until I can afford a Tesla

@MuffinTessee

2 жыл бұрын

Sounds like you got a pretty good system down. Wish us in Texas had regulated energy lol..

@Frank_W.

2 жыл бұрын

Patiently waiting on the Cybertruck here in GA however I am not with Georgia Power. I think slightly cheaper than .14 however zero breaks for overnight charging. I’ll be paying cash for the vehicle from TSLA stock.

Really love Dave adding some new voices on the show. Great getting new perspective and just fun seeing him interact with them

@johnlewis8934

Жыл бұрын

Facts

You don’t need a $60k+ tesla to get an electric car. Bought my BMW i3 for $14k and I drive over 500 miles a week and use no gas. Costs about $1.45 a night to charge it at my house ($40-$50 a month). I save over $300 a month compared to a car that averages 25mpg @$4.20/gallon.

@sarahconner9433

Жыл бұрын

Haha in California that electric bill is $500,/ month!!!

@kitcat8224

Жыл бұрын

do you also save on oil changes?

@eastonlee5102

Жыл бұрын

Good job!

@eastonlee5102

Жыл бұрын

@@sarahconner9433 $75 here......in ca. You must run ac all month with a heated pool!

@DemBlox

Жыл бұрын

so u have an i3 and a c6😂

I just bought Tesla Stock, so I think that this is a great idea.

@montavio

2 жыл бұрын

better than buying a Tesla

@786otto

2 жыл бұрын

Yes it is .

@rjjr7064

2 жыл бұрын

Good luck

@armchaireconomist8648

2 жыл бұрын

@@luisfernando5998 I only bought a little but, and I bought it on the dip.

@montavio

2 жыл бұрын

@@luisfernando5998 best time to buy more

Buying a new car is never worth the savings. I learned the hard way.

@brickcitybikeman3108

2 жыл бұрын

The first two years of payment you make on a new car is just the interest

@CallMeDr.T.

2 жыл бұрын

Unless you have the cash to take care of it and it won't matter in your budget.

@georgejungle138

2 жыл бұрын

@@brickcitybikeman3108 laughs in zero interest

@johnSmith-uz8nl

3 ай бұрын

Yah, you are wrong.

if you are having trouble paying $5 gal for gas, how do our elected officials in the WH think you can suddenly afford a $75K Tesla? Then there is the added cost of adding a fast charger in your home, the plug-in chargers take wayyyy toooo long to charge the car. Second, there are no electric cars to buy right now, you will have to wait months if not a year to get one. Then there is the shortage of chips and needed metals to make the cars..they aren't going to made tomorrow. Don't be fooled into the EV mkt right now.

@jlkkauffman7942

2 жыл бұрын

Agreed! And then what about truckers and us farmers, we don’t have another option, I’ve never seen an electric tractor yet, and I don’t think I ever will!

@redclayscholar620

2 жыл бұрын

Let's not forget Tesla does not allow you to work on your own car. You can buy a gas engine and replace your own oil and change out your own parts. Tesla however does not make it possible for you to work on it.

@Hatfield_Burl

2 жыл бұрын

Maybe because they aren’t 75k hahaha

@Rsmith420

2 жыл бұрын

There are cheaper Teslas than $75k, why do you spread such lies?

@Rsmith420

2 жыл бұрын

@@jlkkauffman7942 Tesla is making an electric Semi. & what about farmers? No one is forcing people to go electric, it’s just a smarter choice, based on several factors.

There are cheaper electric vehicles than a Tesla. I am considering buying solar panels and an electric vehicle but not a good financial decision, but not doing it for financial reasons.

@flaqko5686

2 жыл бұрын

How is buying solar panels not a financial decision?

@EMo-rx7pm

2 жыл бұрын

@@flaqko5686 we live way out in the country and lose power for extended periods constantly, but most people choose solar for environmental reasons. I was quoted 66K before tax incentives.

@why6212

2 жыл бұрын

Resilience is priceless

@user-hd8ej8yx9p

2 жыл бұрын

@@EMo-rx7pm 66k? is it about 60 panels?

@faradaysage15

2 жыл бұрын

unless you have a 100% self-contained system with your solar panels, when the power goes out you have no power also because it's a safety issue having your panels power up the rest of the grid when the power goes out. that's how power workers get killed. 50 energize their lines but your stupid solar panels and inverter are powering up the grid on your branch. I'm a solar certified electrician so I know what I'm talking about. look up something called a solar survey map. solar is pretty much stupid in 3/4 of the country and 3/5ths of the planet.

Dave said I have cars with no engine on the, does that mean he can’t trust me. Laugh of the day!!!! 🤣🤣🤣♥️♥️♥️

@warrenhaines1717

2 жыл бұрын

I don't understand what you are saying. "On the does "

@commonsense-og1gz

2 жыл бұрын

@@warrenhaines1717 it may be a typo, there is a comma after the. i assume he wrote fast, trying to quote ramsey.

My gas bill was $35 a week, now it is $50, if someone travelling similar distances cannot find $15 a week in their budget, a new car is not going to fix that... I suspect the deprecation on a new electric car can buy fuel for a year, maybe 10 years...

@justinkrizenesky

2 жыл бұрын

I'm in same boat. My primary car is my Prius, and I now spend about $10-15 more per week, which comes out to a whopping $750 more per year. I totally get that is a lot of money, but a new car makes zero sense.

@MohamedAhmed-wc3pw

2 жыл бұрын

Well said

@King_Nicholson

2 жыл бұрын

So I used to spend $65/week now I spend $100/week. I also have a jeep. I'm still financing. If I'm already making payments wouldn't I be able to save at least $200 -$300/ month on fuel costs by switching to electric (Assuming the financing and insurance terms are similar)

@dhagos

2 жыл бұрын

@@King_Nicholson yup, more if you charge at home. Plus youll save maintenance costs and time.

@gibblespascack1418

2 жыл бұрын

To fill up my fuel tank cost $75 which is every ~550 miles(for a TDI). Good thing that I work from home due to the pandemic.

I thought Dave was going to snap but he was in a playful mood today. That was a pleasant surprise lol

@StressFreeCity

2 жыл бұрын

The young man on the show is bringing a side out of him we don't typically see. It's refreshing. The guy has an air of I don't need this job, I do it because I want to type of vibe.

George and Dave got great chemistry. Keep it up!

Spend $60k on a car to save gas? Sell the Jeep and buy a geo metro.

@jhnpttn1234y6

2 жыл бұрын

I miss my metro for sure

@front331

2 жыл бұрын

Isn't that the only car that's a 3-cylinder?

@ericchapman8956

2 жыл бұрын

@@front331 not the only car.

@herbiehusker1889

2 жыл бұрын

@@front331 you can get a brand new Mitsubishi mirage with a 3 cylinder

@gibblespascack1418

2 жыл бұрын

A geo metro? Why not buy a good-sized car. Try a lease return 2015 VW Passat TDI, For about $8K and 20K miles, you get a full sized car that gets 43 mpg year around a state like NY. If you live in a warmer climate, the mileage would be higher almost 50 mpg. Take that Geo Metro!

0:12 the way Dave’s wrists just go completely limp says it all. LOL.

I bought a $4000 prius that's getting me 47 mpg and park my 12 mpg truck. With $4.50 per gallon gas I save $3100 a year just during my M-F commute.

Winston builds the building - Dave Pays Rachel works for her father - Dave Pays her Rachel drives a Tesla, plugs it in @ work - Dave Pays Winston and Rachel are smart

@kathyv5447

2 жыл бұрын

♥️♥️♥️

@rodrigofernandez9055

2 жыл бұрын

Be like Winston 🙂

@jillgott6567

2 жыл бұрын

Definitely be a Winston.

@kitsontuli2713

2 жыл бұрын

😂😂😂

Cost of ownership is a major advantage of ev. Dave is pro oil and gas.

@youngblood23rb

2 жыл бұрын

Where do you think the plastics, rubber and other parts used to build an ev come from, oh and how about the electricity? Enjoying the standards of living that oil and gas allows us to have is not a bad thing

@lot2196

2 жыл бұрын

@@youngblood23rb Amen

@grantguy8933

2 жыл бұрын

@@youngblood23rb do you know plastics can be made from corn and other starch based products with latest technology? Oil is from carb too. All of them are solar energy products.

@DavidJao

2 жыл бұрын

@@youngblood23rb There's a big difference between materials and fuel: materials are not consumed on a per-mile basis as you drive the car. Electricity literally comes from the sun through the simple act of installing solar panels.

@johnSmith-uz8nl

4 ай бұрын

Sure, Dave is a good old boy... tells it like it is while he profits off of you... etc...

Back in 07-09 when gas was hella high ain't no one was asking this question.

@JakeSpradlin2

2 жыл бұрын

Because electric cars were not available, hybrids were. And people asked this question about hybrids then

@blackworldtraveler3711

2 жыл бұрын

@@JakeSpradlin2 Yes there were stupid questions back then from broke people.

@cybertrk

2 жыл бұрын

Yeah they were buying Priuses

The thing that's not mentioned is the cost of ownership/maintenance over the lifetime of the vehicle.

@user-qm9oo2fd2o

2 жыл бұрын

Absolutely true. We have a good idea how much it cost for most ICE vehicles but ECars are still very new. I’ve got a buddy who has a hybrid that gets 50mpg and loves the savings. Never has to plug it in or is limited on mileage (range). He’s a salesman so puts a lot of miles on his car.

@wannabecarguy

2 жыл бұрын

@@user-qm9oo2fd2o if you drive below the speed limit like most Prius owners, you can get 50 mpg too. Yes the Prius is fast . But there are some who do 25 in a 45 and they are my family members.

@Rsmith420

2 жыл бұрын

@@user-qm9oo2fd2o the cost for EVs are very known. It’s cheaper in the long run to own an EV that doesn’t require oil changes and other crazy levels of maintenance in comparison.

@user-qm9oo2fd2o

2 жыл бұрын

@@Rsmith420 Thanks for that Randy. Maybe you can educate us here, serious question because I really don’t know. New technology to me is just that, new. How can we have averages for total cost of ownership if it’s still very new? I here horror stories (granted very few because I really haven’t looked into it) of battery replacement costs on par of buying a new ICE compact car. I can certainly see if you already have solar set up in your home, obviously cost to charge is almost free. Is a comparable ECar (appointments, features etc.) the same sticker price as an ICE car? I haven’t looked because I currently could not justify an ECar. We just retired and are going to travel the country in my diesel truck and travel trailer.

@jasonwill5949

2 жыл бұрын

@@user-qm9oo2fd2o in my opinion electric cars are not good if your purpose is to travel the country. It can be done but you need to plan more. Electric cars can save money and time as a commuter car for several reasons. Where I live electric cars are everywhere and the infrastructure is awesome but I know it’s not like that everywhere.

love this one! "no you don't come out ahead financing a $60k vehicle just to save on gas!!!" thank you! Shout it from the rooftops! haha!

Any thoughts regarding the expected accelerated depreciation schedule (due to less demand both artificial and natural) for gas vehicles over the next 5-10 years, and decelerating or negative schedule (due to demand) for EVs?

My mate is paying less in repayments for his Tesla than he was paying for fuel in his old Ute.

Gas is more but as a percentage it’s not enough to offset the cost of a new car. I can drive something that gets 13mpg that’s paid for and save more money than you could buying an EV.

Dave is right, sadly, people are dumber than a rock when it comes to finances and fear of gas prices so they end up buying new or electric vehicles at the end

@fishroy1997

2 жыл бұрын

It’s not really fear of gas prices, that fear is manufactured as a justification for buying a new toy.

@unfairsanic5089

2 жыл бұрын

@@fishroy1997 most people that i knew of bought testlas because of fear of gas prices, not all people has the same problem.

@Water4Mart

2 жыл бұрын

I ain't scared, I'll stick with my Q5 that pumps pure premium unlead in it's veins

@warlockman-ri2jr

2 жыл бұрын

Dave is in fact not right and you are a sheep because you believe him and you don't fact check anything he says I find it extremely comical you Daveites

@Daniel-qj3tp

2 жыл бұрын

So glad i have gone to an ev

I'm glad that dave and george are the ones to answer this question. haha :) dave's analysis changes if you are driving a lot. If you drive 100 miles a day it is possible that you save $200 a month. If you buy the cheapest available used EV it's possible that you break even. I could run the numbers.

What about gas fumes, gas stench, gas line ups, only 2 pumps open, debit machine down, people in line buying lotto tickets, high temperatures, freezing cold temps pumping gas, price wars, gas station temporarily closures, poor security at night, etc, etc, etc

pay $750 a month to (save) $100 a month. So stupid.

@unfairsanic5089

2 жыл бұрын

sadly, people are dumber than a rock when it comes to finances and fear of gas prices so they end up buying new or electric vehicles at the end.

@alexprince9035

2 жыл бұрын

@Donovan Lewis cope

not enough details, how much can he get for the jeep? what tesla is being bought? probably be better to sell the jeep and buy a prius or something along those lines...

Dave said everything he needed to the way he dropped his paper at 0:12 lol

I do food delivery and spend $150-200 per week in gas. I was thinking of doing this very thing. I just need to figure out how much it would cost to charge the car vs money saved not buying gas, along with a car payment. what would be better....

That 1978 truck story kills me.

This question is HIGHLY dependent on where you live. Here in Quebec, Canada, it's a 1:10 price difference between gas and electricity. We're talking on 5k vs 500 per year. Having said that, theres less expensive EVs available.

@cornflowertoile3026

2 жыл бұрын

Do I understand you right, the electricity is way cheaper? But then how well would a Tesla run in northern Quebec or on the peninsula?

@alphad3s

2 жыл бұрын

@@cornflowertoile3026 probably fine but expect reduced range. Also most of the population lives near montreal so EV are very viable. And yes its 7cents cad per kwh vs 2.15$ cad per litre of gas.

@rhyse4818

2 жыл бұрын

It wont. The battery hits 40% capacity at -20 and in canada we usually have -30 to -35ish winters

@AkioWasRight

Жыл бұрын

Then your problem is overpriced fuel, not the car you drive.

I like the "these dang kids" vibe Dave has with the new guy. Haven't watched for a few months and I came back to this. Feels right.

My vehicle burns gasoline but it’s PAID FOR!!!!!

I have solar panels that I didn't pay for because they came with the house. I do have a mortgage though. The previous owners had to pay them off to sell the house to us. It didn't increase the value of the house much. So we pay around $13 dollars a month to net meter on the grid. We have paid off cars. We pay around $300 a month for gas at just under $5 dollars a gallon in Las Vegas. STILL doing the math it doesn't make sense for my husband and I to switch to electric cars. When used electric cars become more common we might consider it but right now we just work the budget. We drive less some months. Thankfully because my husband has a good income and we have paid off our debts we are not freaking out. It's just another wave we have to ride.

@montavio

2 жыл бұрын

now take that $300 per month in gas savings and maintenance and apply it to the $600 per month Tesla. now its more like $300 per month to own one

@donovanhill7367

Жыл бұрын

I wouldn't add solar to sell it back to the utility; I'd add solar and batteries if I were in an area that had a lot of blackouts and brownouts to provide backup power.

What happens if there is a blackout or a cyber attack on our electric grid?

I love it when these two are together. 🤣

I got 10k tax rebate for every electric car and 30,% tax rebate for my solar. My solar is locked in in net metering 1 in California. I save myself rich on energy costs.... Dave Ramsey, believe it or not.

🇺🇸 insurance is 25% to 35% higher on EVs too. I own a gas guzzler, but the breakeven will take decades. I also bought a used 2012 prius for $5k.

@jaws2003

2 жыл бұрын

How do you like your prius?

@blackworldtraveler3711

2 жыл бұрын

Yeah, I’m one of those types that ask my agent about the premium before thinking about buying a car. Heck of a jump from $350/yr. I am paying now for my used 2012 Chevy Sonic LTZ I bought(cash) in 2014.

@seymorefact4333

2 жыл бұрын

@@blackworldtraveler3711 Ev insurance cost more due to the cost to put the fire out. Batteries burn hotter and longer.

@cybertrk

2 жыл бұрын

Wrong. I pay $90 a month for my Model S full coverage. Keep drinking the misinformation coolaid

@cybertrk

2 жыл бұрын

@@seymorefact4333 that’s not even close, recent NTSHA shows teslas are 90% less likely to catch fire than a gas car.

I have a model Y Tesla & it only cost us $33 a month to charge at home. No oil changes, no repairs, very little maintenance

@taneshabland8686

2 жыл бұрын

Hi! I am in the process of buying one right now (it was ordered? And I want to make sure I am making a sound decision I keep reading people talking about high insurance? And crazy maintenance? Can you tell me about your experience and if you feel it’s worth it?

@unfairsanic5089

2 жыл бұрын

For now, in a couple of years it will become an endless moneypit

@ryanolson2430

2 жыл бұрын

@@taneshabland8686 tesla will offer insurance for 80% of Americans by the end of the year, If you are a good driver it might even be cheaper. I am waiting for the cyber truck, wishing I had a model y until then. 90%+ are happy with their tesla. Mostly just tires and wipers.

@egs2169

2 жыл бұрын

@@unfairsanic5089 wrong.

@taneshabland8686

2 жыл бұрын

@@ryanolson2430 I appreciate the honest feedback!!!

Right on, as much as I try I can't argue your answer.

We have a Kia Plug In Hybrid. It has a 30 mile range on battery only. We paid $37 in April, $31 in March, $22 in Feb. The only time we needed gas was when we changed or normal driving habits. EVs are a great option if you are buying a car anyways and you drive mostly local. EVs are not a good option if you are trying to stay 100% debt free. Which is Dave’s recommendation. So can an EV save you on gas with very little increase to your electric bill? Absolutely. But the payment is a deal breaker if you’re adding huge monthly debt and not just buying the car.

I’ve actually heard people talk about this live….ludicrous. Now if you’re deciding on your next car, that’s a different story. You’re replacing just as you always have, not to save. Sounds like the jury is still out as to the economics of electric cars, a lot to think about.

@Rsmith420

2 жыл бұрын

The jury isn’t out as to the economics of EV’s, the economic benefits are very clear. It just takes a tiny bit of research & knowledge, same as any other new technology.

@monikaw1369

2 жыл бұрын

@@Rsmith420 What are the results? Please share.

I’m clicking on this just for his reaction

This didn't age well. This is now a financially viable option.

"You are now going fast." 🤣

I broke even on a Tesla and it’s awesome 😎

@cybertrk

2 жыл бұрын

Same here!

@mrnyquill3570

2 жыл бұрын

@Beyond Tribalism if I sold my 2019 model X right now I would make $15-$20k right now. Short answer yes

I love how they bend the mass so that it fits their narrative they're literally no different than every other politician or anyone else on the internet that's trying to sell you something make no mistake Dave is a salesman for his own products

@gabew7480

2 жыл бұрын

What is he selling in this video? what narrative is being made?

@anamericanfriend2367

2 жыл бұрын

You haven't proved your point that anything he said was wrong.

@therealyousef

2 жыл бұрын

@@gabew7480 He’s selling common sense. Who needs that?!

😂😂😂😂! Dave always Ahead!! Haha!. When He breaks it down!

My Scenario: 1) Bought home in April 2020 - 2.75% APR 2) Was spending $250 per month on a 2002 VW (paid for, well-maintained, simple) 3) Decided to purchase a used Chevy Bolt EV in December 2022 - $295 per month for 5 years (4ish% APR); it received a brand new battery right after I bought it due to a recall, warranty on the new battery is 8 years/100k miles, no cost to me. 4) Installed solar on my house in Jan 23 (paid cash out of some investments I had) - the solar takes care of my home electricity needs as well as all of my EV's daily charging needs. System will pay for itself in only about 4.5 years (I paid $7k out of pocket for my 7.2kW DC installation, since I installed it myself) My out-of-pocket costs to upgrade to an EV amount to about $40 monthly for the duration of the loan. I feel it is worth it, but everyone needs to do their own math. I am a frugal deal-finder, but am not afraid to spend money when I think it will work out for me in the long run, which I think this series of decisions will.

If you need a car and buy an EV that's equivalent cost to a gas car that you're looking at, then sure it makes sense. However, going out of your way to buy one for that reason is stupid, as Tesla's in general are a more expensive car. Now if it's a perk on top of other perks, that's a different story as Tesla's are fantastic cars.

What if I’m a Uber driver and I’m already paying about $450 a month on gas? I finished paying off my car now at 100k miles and sell it back for decent price 20k. I was thinking it might be worth it for a tax write-off in my case, and no longer to have to worry about any combustion engine maintenance, or major repairs$$$, I seen Teslas at 400k miles still with 80% battery retention. $60K for a car is a lot but you will get 3-4 cars worth out of it.

@edwardhoward4708

2 жыл бұрын

I’ve been pondering this issue of Uber drivers for a while. If you spend any significant amount of time sitting still with the air conditioning running, or cover a lot of miles, you’re a good candidate for a hybrid or EV. I think you should do a total cost of ownership calculation and find the annual ownership/operating cost of whatever vehicle you drive.

I live in Norway. I save 550 in gas and road toll another 300 us. I pay every month 600 in total for my tesla sr3

@michaeljjan6344

2 ай бұрын

Why don't you pay road toll with a Tesla?

@aronandreas

2 ай бұрын

@@michaeljjan6344 because it is for free... For the moment

It is NOW that Tesla prices have dropped... Just paid $39K for a model Y and I also get free charging at work. I am saving $100/week in gas due to free charging at work. ALSO, my Tesla comes with FREE electric charging for the first 5,000 miles (will use this for trips outside of work). I will be saving about $5,000 per year in gas (old car was a 2012 Subaru Forester). That means IN EIGHT YEARS, the car pays for itself!!!!

& Then buy a $10k replacement battery every 8-10 years there after !

@bushy240

2 жыл бұрын

Re sale values plummet as well.

@patronboy777

2 жыл бұрын

@@bushy240 heck no. Check the 2016 Tesla models and compare them to new ones.

There are other EV's that are not that expensive when you compare them to new cars... base models. There is a Prius, etc...

@blackworldtraveler3711

2 жыл бұрын

Broke people with debt only know Teslas.

@jaws2003

2 жыл бұрын

That's what a lot of people neglect to factor in. Hybrids, plug in hybrids and other EVs that don't cost the same price as a Tesla.

@johnSmith-uz8nl

2 жыл бұрын

@@jaws2003 i'll be honest, we are looking into getting a EV for my wife. We will pay cash of course. But I am looking at the top trims... that is my issue. We live in the North East and feel we would want AWD and would pay more for longer range. We are down to the EV6 or BZ4X. I was looking at the GT version of the EV6, some dealerships around me are asking $20K above MSRP!!!!

Does Tesla have any models that will provide the same capabilities as the typical gas guzzler? If you are willing to switch to a Tesla sedan, you can get a gas or hybrid sedan with good gas mileage for half the price.

Remember to include in the break-even analysis the monthly cost to pay off existing gasoline engine car as well. That cost still exists for most people.

@juggernautAA12

2 жыл бұрын

They act like someone is going from a $5k Honda to a $70k Tesla when it’s maybe a $10k difference

Energy cost for an electric people hugely depend on how far you have to drive to work. I drive about 27 miles in each Direction and I would need to recharge my car every other day to keep a full charge which would end up costing me more like $35-$40 a week... even with high gas prices I spend about $50 a week. So the ten dollars a week you're saving AKA $500 a year is not even close to paying for the Tesla

@Rsmith420

2 жыл бұрын

Those electric numbers sound very off and overinflated.

@Argedis

2 жыл бұрын

@@Rsmith420 What about the added insurance costs?

@Rsmith420

2 жыл бұрын

@@Argedis Teslas are the safest cars in the world, so some of these insurance companies are overcharging just because it is new and unfamiliar technology. But Tesla has its own insurance division that allows you to buy their insurance directly from the car screen. Everything in the car is connected, so they have precise knowledge of how safe you’re driving and it comes out to be cheaper than other insurance, actually.

Dave is 100% right on this one.

We just had Pink Energy come out and check out our house. 270 a month for 25 years or something. Still wouldn't cover all the energy during the winter months. Average electric bill was about 210 with crazy peaks in the winter.

How much is the Jeep? Plus maintenance?

If you could buy a reliable used ev for 10k like you can with a used Toyota, then it would start to make sense. Until then, I'm filling up my 4runner and going to work.

@perryhall8942

2 жыл бұрын

I paid $3500 for my 2012 Nissan Leaf. It makes perfect sense.

You save more than gas when you purchase a Tesla. Savings on maintenance and repairs over a 5-7 year period plus saving on gas, the car will practically pay for itself. Dave doesn’t mention anything about that. Dave is wrong on this one.

@user-nr2kb3mw8i

2 жыл бұрын

How much is maintenance? What are the maintenance intervals for your make and model? How much are parts? How much of the work can an owner do themselves without taking it to a dealership?

@montavio

2 жыл бұрын

he's wrong on many things because he's ignorant to new topics. stuck in his old ways and doesn't research technology

@todoldtrafford

2 жыл бұрын

But you’re not factoring the initial cost of the Tesla. It’s cheaper to run not to buy. The cheaper you ice car is the less likely it makes sense to get a Tesla. You would need to spend so much money just to reach the initial cost of purchase of a Tesla

@montavio

2 жыл бұрын

So i decided to buy the 17k like new mercedes instead of the 40k Tesla

A used to tesla model 3 with a mileage less than 30k miles isnt that expensive anymore nowadays. Getting one for me made financial sense. Was spending 400 usd a month for gas, now around 90/month including electric bill 🤷🏻‍♀️

Engineering explained did a break even analysis for a Tesla and it’s actually within the timeframe of around 10 years, even with cheaper gas prices than they are now ($5.20 in phx AZ 06/2022) and even compared to keeping current vehicle

@rhyse4818

2 жыл бұрын

10 years is too long for anyone to actually notice theyre saving money. Plus in 10 years electric will be several times more expensive since everyone will drive up the demand with their electric cars

Don't own a car anymore. Retired on SS, still working though. I moved blocks away from my job. Walking, I exercise a mile per day, I noticed the savings now, compared when used to drive for 25 years.

My power bill only went up $35 a month when I started driving an EV. It made a lot of sense to go electric for me. Didn't get a Tesla. Driving a fiat 500e. Less than $10k.

@jasonwill5949

2 жыл бұрын

I remember when fiat 500e where $60/month to lease

@named321

2 жыл бұрын

@Beyond Tribalism you do not need a garage. I live in Alaska and there are lots of folks who charge outdoors all year round.

Insurance is also way higher for a Tesla.

@DavidJao

2 жыл бұрын

Insurance costs more for expensive cars. But if you compare similarly priced vehicles, e.g. Tesla and BMW, the Tesla does not cost more to insure.

I used to drive 10 miles to work and get gas once a month in a Cruze. Oh the good old days.

A poor assumption is that the Jeep is paid off... this guy might be trading one loan for another of roughly similar monthly payments for all we know. And the only major difference is the gas vs electricity argument. I still wouldn't do it just to avoid the headache.

@MichaelAnderson-wk1no

2 жыл бұрын

Well he said his wife "thinks it's a bad idea to finance a car", so that implies that they aren't financing one currently. I don't think that comment would have been made if they were just swapping out one payment for another.

Scotty Kilmer: I’ll just keep driving my ‘94 Celica… paid $300 bucks for it still runs like a clock….hahaha! (Horse teeth)

@normantheforeman9866

2 жыл бұрын

I actually understand that reference

How about a Nissan Leaf? My dad bought one and has solar panels on his roof, as well. My parents feel a bit smug when they drive by the gas stations these days.

@timothykeith1367

Жыл бұрын

The 1st gen Leaf does not get a lot of respect but if aftermarket batteries drop in price so the the 62kw upgrade is 1/3 of the current $14K I might get one. Consumer Reports in it's latest used car issue recommend the 1st gen Leaf for those who make short trips.

there are more factors that come into play such as the longevity of the vehicle, replacement battery versus replacement of engine. or is it even better just to buy a new vehicle.

Jeep = $55K Tesla = $59K.

@taneshabland8686

2 жыл бұрын

Yes it is

I sold my car five years and get around by bike and bus. I was able to save up for a down payment thanks to saving roughly $750-1,000 a month

@BASEDinMaine

2 жыл бұрын

That's awesome. I used to be a bike commuter around 2010-2013, but the smart phone became more ubiquitous and I don't trust my life with the drivers anymore. Every other person is staring at their phone. I've been toying with the idea again because that savings is real. Not just the fuel cost but the wear and tear on the vehicle, but I gotta get over that reservation first.

@twocantan

2 жыл бұрын

@@BASEDinMaine I feel like most people would prefer to bike commute if it weren't for idiots in cars. But that's awesome if you decide to get back into it. My quality of life is significantly better without owning a vehicle.

@sarahconner9433

Жыл бұрын

Normal people can't ride a bike to work or show up to work sweaty or tired

@twocantan

Жыл бұрын

@@sarahconner9433 Didn't realize I wasn't normal! Thanks Karen!

I door dash and spend about 250 a week on gas. So a 500$ car payment would actually free up enough to max out my Roth IRA for "free" every month.

How much does it cost to put in the Electric for the plugin in your house.

@MWebb-de9pq

2 жыл бұрын

There are two tiers, depends on how fast you want to charge. It looks like up to $3k for the fastest charger. Many people also forget that battery needs to be replaced every 100k miles which can cost $10k. That's assuming people never find out how they extract and mine the materials need for them. EVs cause more harm than oil.

@RaRaRyannn

2 жыл бұрын

Depends. Mine cost $300 to install at time of building my house. But after the fact it can run anywhere from $800-2000 depending on where you live and the complexity of installation. I’m saving $150/month using electricity vs current gas prices, so that cost can be offset fairly quickly if you are going debt free into an EV vs a similarly priced gas vehicle. You can also charge using a standard outlet, albeit very slowly and probably not practical for most people.

I heard EV batteries don't keep a charge well in cold weather. It's one of the problems they are trying to improve. I've heard it's also a problem if you travel long distances and you have to find places where you can charge the car. I'm staying with a gas vehicle until those problems get fixed.

@flavf2494

2 жыл бұрын

Depends on where in the country the long distances you refer to are. I drove from NY to Florida in my brother’s Tesla and we had no issue finding places to charge. Tesla has a great interface in the car to show you all the charging spots. Other parts of the country may be a different story however.

@confirmhandle

2 жыл бұрын

@Jarod Armstrong brilliant explanation you're absolutely correct

@montavio

2 жыл бұрын

Don't you have to find places to pump gas? lol Don't believe exactly what you hear on the internet. Go down to the source itself at the Tesla store to find out exactly how it works. will change your life.

@named321

2 жыл бұрын

I live in Alaska. I’d argue we have the worst EV infrastructure in the entire United States along with some of the coldest weather of all states. We have a lot of EV owners here and none of us struggle with charging or range. Expect about a 30% range reduction from the cold and charge appropriately. Non-issue.

@montavio

2 жыл бұрын

@@named321 good thing most evs like tesla have longer ranges

I used to live by Dave’s code, and there was a time in my life I needed it. But his harsh reality check, lack of concern for the environment and overuse of the word -stupid- have kept me away. People don’t make “stupid” decisions, and really shouldn’t look at it like that. You have to do something to understand the value in your decision. None of my decisions in life have been stupid, but simply educating.

@sarahconner9433

Жыл бұрын

He disrespects people.. He called a war veteran marine..a "kiddo"

Dave lives in the stone age my light bill is 10% of my gas bill, no oil changes no breaks. Dave drive a Tesla and you will see.

A financed Tesla doesn't start to save money on gas till the bank is paid back their money first.

Based on Dave and George's equation, it will take 57 years to break even saving $20 a week.

@pistachiosandpopcorn7146

2 жыл бұрын

@@bert1450 What about maintenance costs? Imagine how much it costs when stuff starts breaking in the Tesla? And I bet you...it will start quicker than anything would (that is serious..not talking window regulators) in a chevy for instance or Honda. And then who do you know to fix it cheaply? I know many mechanics that if I buy the part..I can get it done cheaply. But they sure don't know how to fix a Tesla. And the rule of thumb around here..if you can buy a fancy car..you can afford to pay more to have it fixed.

@daelkolwitz3509

2 жыл бұрын

@@bert1450 good point. I was looking at the $20 savings per week and the cost of the $60k financing they mentioned.

@Michael-kv5ff

2 жыл бұрын

their math is way off for 26k miles it costs 650 for electricity and for gas would be like 5-6-7k depending on gas prices

One thing people don't think about is insurance is much more on a Telsa they're so hard and cost so much to fix

You failed to find out a few key pieces of info: -how much $/years do you have left on the jeep -how much do you drive -do you need a new car At the end of the day it may make sense depending on that particular individuals needs.

New battery charge when you have to replace?

If Dave’s daughter Rachel has a Tesla… you know the math works.

@joeb1522

2 жыл бұрын

She has a Tesla because her Dad is very wealthy, not because owning a Tesla is financially a good decision.

@DavidJao

2 жыл бұрын

@@joeb1522 Owning an expensive car is not a good financial decision, regardless of which company made the car. But if you're going to own a $60k car, a Tesla is the cheapest $60k car in terms of operating and maintenance costs.

@todoldtrafford

2 жыл бұрын

She owns one because she has enough money to not care about cost. People living pay check to pay check should get a used pre owned car/hybrid not a new Tesla. Math isn’t your subject

As nice as it would be to charge my car at home, it's not worth trading in my fully paid truck for a $600+ car payment.

I have a question for you Dave why don't you like Tesla's I agree with you 100% about the electric car by the way I'm going to need to buy a new car I will pay cash should I go for a hybrid or a full electric what do you think I'm 65 years old thanks

One thing that I don’t see anybody talking is a Tesla car insurance that is very very expensive because cost a fortune to fix a small bumper.

@ryanolson2430

2 жыл бұрын

By the end of the year they will be able to insure 80% of teslas in the USA through tesla insurance. It actually could be cheaper if you are a good driver. All the problems you can think of for an electric tesla are being solved. Unfortunately news headlines seem to stick.

This hate for electric cars is so immature. Sure it doesn’t make economic sense just to save on gas, but the overall hate is childish. If you can afford it buy it, just like Rachel did.

@larryhawes8295

2 жыл бұрын

"Immature and childish..." could not agree more. Dave loves his dinosaur, hillbilly 'Teslas are bad, loud engines are good' schtick, but it's boring and doesn't take into account everyone's unique circumstance.

@blackworldtraveler3711

2 жыл бұрын

Never see the hate with electric cars. Just the stupid rationalizations from broke people. People can buy what they want. I’m sure many are out there dealing with inflation now while making those Teslsa car payments and paying the more expensive EV auto insurance.

@front331

2 жыл бұрын

@@blackworldtraveler3711 agreed. If your net worth is not around a million then don't buy a Tesla. Me, if I had close to a million, I'd buy a 1 year or year old Honda Civic or Accord.

@larryhawes8295

2 жыл бұрын

@@blackworldtraveler3711 I guess that's kind of the point. How could one know if this is "broke person?" What's the income of the e-mailer? What's their net worth? Are Teslas bad for everyone as Dave as claimed more than once? Too easy, and lazy, to generalize IMO.

@TheMopar97

2 жыл бұрын

What’s your definition of “affording”? Technically, paying cash for the electric car is being able to afford. Being able to afford the monthly payment doesn’t mean you can truly afford the purchase.

I’m a Uber driver and when I do the maths a electric car is the best out right now it cost me 70 dollars to fill my car and I that about 4-5 a week

@johnSmith-uz8nl

2 жыл бұрын

Prius... that is your answer... $30K cheaper and you will save 50% at the pump.

The quiet electric car has another issue to be aware of....pedestrians generally do not hear the approaching electric automobile......couple that with people constantly looking down at their phones when they walk outdoors ... I'm surprised there aren't more splats.

@blackworldtraveler3711

2 жыл бұрын

I'm not surprised since these cars can sense an approaching object and stop itself.

@DavidJao

2 жыл бұрын

NHTSA solved this problem by requiring electric cars to be equipped with external speakers that play a noise when the car is moving at low speeds. At high speeds the car isn't silent since tire noise is still present.

Electric cars can be made to play some audio through their speakers on acceleration to make them feel like gasoline powered cars Dave.