TLDR: Wife and I transitioned 100% EV (24' MYLR and 21' M3LR) from two ten year old ICE cars in the last couple months. Total cost to transition was just $41,500 and we're saving $4,500 annually on electric vs. gas. Why doesn't everyone do this!?
Our Experience:
Just wanted to document my experience transitioning entirely to Tesla within the last two months.
Mid January, a deer stepped in front of my ICE. Wife and I are the types that tend to keep cars until the maintenance becomes a headache, and we both have been driving 8-9 year old cars that have been paid off for years, with a combined 350k miles between them. I knew the time was approaching with my car, but the deer expedited the process.
Model Y (new) - Long Range
I honestly had not been tracking daily prices of the cars, and hadn't looked at what theses were going for for about a year or more. In my head I was assuming we were going to be putting down 60-70k to get what we wanted. The reality was much different, than expectation. I started by building exactly what I wanted, and going into research mode on options (there really aren't too many things to consider, surprisingly at least to me):
- Reddit (thanks) helped me quickly realize we didn't need EAP or FSD
- Long Range: yes please
- Bigger ties look nice, but the moment I realized it reduced range (nope, no thanks)
- Color: I guess I don't mind paying for blue, I like blue (personal preference)
Then I found the 'inventory' tab, and noticed there were a lot of cars available. So I entered exactly what I built there, and saw I could get it sooner for $4,500 less. I don't consider myself impulsive. I bought it that night (ordered it?) I was driving the car 5 days later. $7,500 off the price from the point of sale discount from EV tax credit brought the total sale price down to the upper $30k's (wow! Half what I was expecting to pay, for a new car... I was in a good mood)
Extras
We did have to hire a guy (licensed Electrician) to install a 110 foot line from our sub panel to the garage to put the Wall Charger in the garage. We had the foresight to install it in a way where it could hit both sides of the garage (foreshadowing) although at the time we had no idea just 6 weeks later we would be getting another Tesla. Cost $2,250 (wall charger included)
Savings
It wasn't until the first week of driving the car (and a lot more research online - much of it here - THANK YOU!) that I started to realize just how much money I was saving from electric compared to gas. I live in Virginia, which already have a fairly low average cost per kWh... but my power company in particular charges just 9 cents per kWh, and when I changed to EV status with them, it dropped to 5 cents per kWh 11pm to 6am. I drive about 20k miles a year (mostly commuting) and much of that is winding 35mph roads that are fun to drive with beautiful scenery. I didn't realize two things when I bought the Model Y -- A) EV cars excel at savings when you're driving under 50MPH, and B) the regen breaking makes driving these roads SO much more enjoyable, safe, and efficient. The altitude change is minimal, but I'm averaging 210-220 Wh/mi after the first 15 miles of my commute every day... and hitting 190-200 on the way home for the same section. All while feeling like a kid in a goKart on these winding roads (deer, you got me here, but please please don't ruin this for me!)
I did the math, and I'm going to save $3,125 annually now that I'm driving this car (electric compared to gas) vs the premium gas my 2015 ICE vehicle was consuming prior.
This Model Y will pay for itself (become free) after 13 years... if I drove it that long.
Model 3 (used)
My wife and I decided that whoever drives furthest on a given day would take the MYLR. Reality is that she drives the kids around more, and so I found myself leaving the car with her any day she was going out regardless. I started to HATE (it's such a strong word, but I really did) driving the Ice car. Why so I feel like I can't accelerate, why am I hitting the break so hard? This doesn't feel safe!
My wife and I talked about how we would look at getting a second Tesla in a year or two, once we paid off the MYLR... but then it occurred to me to check used. I did a little research and found that the used Model 3's would qualify for the EV credit also, if I could find one under $25k... I though this might be impossible. How could anyone be selling a one for that cheap (unless it was a lemon). I did some research anyway, and discovered I wanted the LR (AWD) for Model 3, and ideally between the years 2021-2022 to get the credit but also get the updates made starting in 2021.
Just 18 hours after I started this search, I bought a used Model 3. I found exactly what I wanted... a 2021 Model 3, white/white, with 26k miles on it, drove great, clean history, one owner, flawless paint still, acceleration boost, all weather floor mats, for $24,800 ($20,800 after EV credit). Taxes, processing and fees took this total cost up to around $23,000.
Conclusion
I'm confused (genuinely) why everyone isn't switching to Tesla. I have to be careful saying this (though I think it often) around others. I mean, to be clear I was in the dark just a few months ago too. But we just converted to 100% Tesla (EV) in a matter of two months. We were driving two old ICE cars each with over 150k miles on them... sold them for $19,000 total. And converted our house (garage) to EV charging, and bought a 2024 Model Y Long Range, and 2021 Model 3 Long Range all for a combined $60k - the net result... we transitioned from 10 year old ICE cars, to 100% EV (Tesla) with two very young and new cars that will last us another 10 years or longer... all for $41,500ish when factoring in cost of new cars (electric wall charger) and reducing it by what we sold the ICE cars for. We will be saving roughly $4,500 annually on energy (electric compared to Gas). This is a no brainer. Why isn't everyone doing it!!?
If you've made it this far, thanks for reading. Maybe sharing this with someone you know who is on the fence about EV transition can help give them a nudge :) We are so happy we did.
Edit - Insurance:
We have USAA for insurance provider. I was concerned at first hearing other stories on here about difficulty with rates, but our transition to these new Tesla vehicles was very smooth and didn't move out insurance rates up much at all. The monthly rate we were paying on our previous cars combined was $218, and our monthly rate for coverage on the two newer Tesla's is just $278 a month combined. Not bad for the 30,000 annual miles we report driving. The one hidden fee that will sting a little more, is that Virginia has a pretty high property tax due annually on vehicles based on their price. I'm already seeing signs that the county is going to estimate the value of our cars higher than we paid for them, and I think we're going to see roughly an extra $1,200 more in property taxes combined due annually, but we can live with that, all else considered.
[Edit] Opinions of Friends and Family
Based on some discussion in the comments, adding my thoughts on this topic:
I've run into a few friends and family with very strong opinions against Tesla who have voiced them since we bought... I pose some thoughts/questions to them that go a bit like this:
"Why do you have such a strong opinion against a very specific car/brand?"
"Have you asked yourself why and where that came from?"
"I can't think of a car or car company I dislike enough to talk down about just because someone else bought it recently."
-- if they engage after posing this series of questions/thoughts, I'll often leave them with my opinion that:
"competitors and politics may have a vested interest in making you believe what you do" "are you aware you've been manipulated into having such a visceral view towards what is simply a car and car company. Do you think that's healthy?"
That usually doesn't play well (they get defensive or angry) but at least I think it leaves them with something to think about...\
That said, the vast majority of friends and family love hearing our thoughts on Tesla and are thinking of getting an EV soon, even more so after hearing about our experience. I just posted the above, because we certainly see a few people with extremely strong opinions against Tesla, ready to express them the moment they learned we bought one. It's fascinating really... where that comes from.
edits: adding TLDR to top and fixing some typos