Quote:
Originally Posted by urbandreamer
I just priced a blue 2024 Tesla Model 3 LR, no Auto Pilot or self driving for $68600. Then I discovered you can get a loaded 2024 Honda Accord hybrid for $44000. Assuming you keep it for 10 years which car is the better deal? (Although at 195 inches long, the Accord is 10 inches longer than Model 3. A loaded Civic sedan is 183 inches long, $36k. Hmm. $30,000 buys a lot of gas eh.) Also consider the 50% of us who don't have access to home charging.
Yes, I know you'll argue the Model 3 is a luxury vehicle. It's not, since so many are used as taxis/ubers. It's really a Camry/Accord/Civic/Corolla/Taurus/Malibu competitor, aka a mainstream sedan. It's similar to buying an iPhone 15 vs a Samsung Galaxy a55 or Galaxy 23FE. Similar functionality but inflationary value. Do the same people buying Model 3 bitch about Galen Weston?
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Aside from the fact that the Model LR is an AWD vehicle and the Accord isn't, let's look at the price differences.
Model 3 LR AWD - $66k before federal rebate.
Accord - $43 463
Let's deduct the federal rebate and add sales taxes.
Model 3 LR - $69 580
Accord - $49 113
The difference is $20 467.
Let's use an amortization period of 10 years and a 7% interest rate to get a difference of $237/mo. So the question is do you think having an AWD car with more convenience and safety features and a lower cost of fuel and maintenance is worth $237/mo.
But let's look at the fuelling cost difference for 15 000km/yr (average mileage in Canada). Let's use 7L/100km and $1.35/L for the Accord and let's use 16 kWh/100 km and 11¢/kWh (midway between off-peak and midpeak in most cities in Ontario). The Accord has a fuel cost of $118/mo. The Model 3 LR AWD has a fuel cost of $22/mo. So that's a difference of $96/mo for 15 000 km of driving per year.
So the actually monthly cost difference is about $141. So is $141/mo worth the all wheel drive, the fully software defined vehicle and the much better safety and convenience features (full control from your phone)? Some will say yes. Some will prefer the flexibility of a gas vehicle. But I'm going to bet when looking at such a small net monthly difference, a lot of people will pick the Tesla.