Owning a luxury vehicle comes with a number of challenges, one of the most frightening of which is the exorbitant expenditures associated with it. Despite the fact that there are some fantastic used luxury bargains to be found on the secondhand market, the operating costs may very quickly add up, and if you are not careful, you may find yourself out of cash. Therefore, the ideal scenario would be to locate a brand or model that provides the prestige and technology that luxury automobiles are known for, but at a price that does not completely exhaust one’s financial resources.
Surprisingly, Tesla seems to be the top option when it comes to the premium brands that are the most dependable. Even if the market for electric vehicles is still in its infancy, at least when compared to the market for internal combustion engine vehicles, the absence of moving parts appears to be a significant benefit in terms of the costs of maintenance. To determine which models to purchase, as well as a few other companies that also provide affordable ownership experiences, we are now conducting research.
A Tesla Runs Cheaper Than A Toyota
It may be surprising to hear, but a Tesla actually has lower operating costs over a decade compared to a Toyota, according to CarEdge. Over that period, a Tesla is expected to incur maintenance costs of only $5,867, which is $129 lower than the typical Toyota.
A $13 annual savings may not seem like much, but when compared to the almost $2,000 maintenance costs of Mitsubishi, Honda, and Mazda over a decade, Toyota is clearly the most budget-friendly popular brand. This casts doubt on Tesla’s accomplishment.
read more: Is the Tesla Plaid X the fastest American SUV rolling off the production line today?
While Tesla May Not Have the Best Reliability, Their Warranty More Than Makes Up for It.
Contrary to popular belief, this isn’t always due to Tesla’s exceptional reliability. With 252 PP100, Tesla placed 62 points worse than the industry average in the J.D. Power 2024 U.S. Vehicle Dependability Study, which ranks brands based on the number of issues per 100 cars (PP100).
The battery and drive unit are covered by an 8-year/150,000-mile guarantee on the AWD Model 3, Y, and Cybertruck, as part of Tesla’s generous warranty package. Less frequent, more expensive, and more difficult maintenance are required when there are no fluids in the engine or gearbox or any components that can be replaced, such as gaskets, water pumps, fuel pumps, etc.
Furthermore, the guarantee ought to cover replacement components in the event that the drivetrain has any issues inside the first eight years. The trade-off is that some owners will understandably not want to wait for their car to be fixed. According to CarEdge, the likelihood of a Tesla requiring a significant repair during the first decade of ownership is 9.82%, which is 25.27% lower than the average for the luxury car sector.
With the lowest maintenance costs, you can get a Tesla Model 3
Among the five luxury cars ranked by lowest maintenance costs, three are Tesla’s. However, the top slot goes to the Model 3, which will set you back only $1,115 in the first five years and $3,587 in the first 10. Tyres, cabin air filter, brake pads, and fluids are the only components of the powertrain that need maintenance, and this should be done every 12,000 miles.
On the whole, the Model 3 has been a huge success with buyers.
Looking at the 184 reviews for the 2022 Tesla Model 3, the average rating is 4.6 out of 5 according to Kelley Blue Book Consumer Reviews. Owners rave about the Model 3’s comfortable ride, long electric range, cheap maintenance costs, and overall great driving experience, claiming they’d never go back to a more traditional car.
However, not all is roses; most people have issues with the product’s dependability and construction quality. Some Model 3 owners have noticed that their vehicles share Tesla’s reputation for noticeable panel gaps, which is especially noticeable with the new Tesla Cybertruck. There are occasional reliability issues, but overall, the favourable ratings are far more numerous.
The Least Expensive Luxury Brands to Maintain after 5 Years
| Rank | Brand | 5 Year Maintenance Cost |
|---|---|---|
| 1 | Tesla | $1,921 |
| 2 | Lexus | $2,120 |
| 3 | Acura | $2,882 |
| 4 | Infiniti | $3,129 |
| 5 | Lincoln | $3,158 |
| 6 | Audi | $3,470 |
| 7 | Cadillac | $3,536 |
| 8 | Volvo | $3,615 |
| 9 | Mercedes-Benz | $4,294 |
| 10 | Jaguar | $4,639 |
You might have noticed that items are more expensive than normal if you’ve had regular maintenance or repairs done on your car. Although post-COVID inflation rates have had a significant impact on all industries, the cost of auto repairs has suffered the most. In reality, from November 2013 to November 2023, new and used automobile maintenance expenses increased by 49.8%, according to research by the US Bureau of Labor Statistics, while the comparable inflation rate increased by 31.7%.
This is caused by a number of things, such as shortages of chips, more expensive and sophisticated car technology, a lack of skilled technicians, and persistent geopolitical crises that exacerbate supply chain problems, to mention a few. Searching for a luxury car might not be wise given the current state of the expense of living. But given their inexpensive fuel and upkeep, a Tesla could be more sensible than you would have imagined.
1 thought on “Why Tesla’s Low-Maintenance Costs Make It a More Affordable Option Than Toyota”