2022 Tesla Model 3 vs Honda Accord Hybrid: 5-Year Ownership Cost
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- เผยแพร่เมื่อ 16 มิ.ย. 2024
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How much does it really cost to own a 2022 Tesla Model 3 for 5 years (75K miles), and how does this cost compare to the popular Honda Accord Hybrid? In this video I do the math to determine which vehicle is likely to have a lower 5-year cost of ownership.
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Disclaimer: All of the content found in this video is based on my own research and should NOT be regarded as financial advice. Please do your own research before making a purchasing decision. While the information in this video is believed to be accurate at the time of recording, no guarantees are being made about the accuracy of the information presented in the video. - ยานยนต์และพาหนะ
I bought a Honda Accord Hybrid basic in March 2020. I was seriously considering Model 3. I set 2 main criteria for my search and comparison: the upfront cost, and cost per gallon. After thorough research and heavy calculations, it turned out the Honda was much cheaper in a long term. In 2 years of ownership the maintenance cost was about $100, oil change which I do myself. I'm getting about 52.8 miles per gallon for the last 8,000 miles, I drive speed limit only. If the sign says 45, I go 45. Tesla needs to be charged every 7 days, even though you do not drive it. It is much smaller inside, and no leather for that much money. Do I regret I did not buy a Tesla? Not a bit. Will my next car be an EV? Most likely. But I like the idea of the Plug in hybrid, instead of EV only.
Yup. I also bought a base honda accord hybrid back in March 2020. It was a 2019 model. I get anywhere between 50 - 55 miles per gallon depending on weather with my driving. Summertime I can easily reach 55 mpg. I don't drive fast and i usually drive 60 - 65 on the freeway. I also agree with a leaning more towards a plug in hybrid vs a full ev
yup buying ev like you prepay gas. Plus more electric wires are more problem
in my state of Oregon, a Honda accord hybrid is around 35k only, not much like in the video
Tesla more fun
@@dennisluftig3526 I'm sure it is. However, that is not the purpose of this review. There are a lot of "fun" cars, and the most of them are stick shift for true car fans, and they are not the "AA" battery driven toys.
My next car will be electric. I’m also in the middle of installing a DIY solar-electric system (13.6kw; it’s a ground mount system).
Nice analysis. One point is that home solar is not exactly "free power" because you need to purchase and install it. You could figure in the overall net cost of an EV and home solar together, but the payback will be many years off. My next daily driver will be an Aptera EV, which promises to be VERY economical. But also my current plug in hybrid is very cheap to operate and has very little depreciation because I bought it used. I do agree with your points overall that EVs clearly have a lower operating cost when buying new. Even when comparing against very economical and reliable gas powered cars like Hondas and Toyotas.
Agreed. I actually installed my own 3.6kW off-grid solar system (about $7K) with a battery backup (additional $$) on my home in north eastern US. I'd have to at least double or triple the size of my system in order to charge a Tesla on a regular basis. It's not "free" by any means. Even if you have a Grid-Tied system, it takes a good 7-10 years for payback, depending on its total cost, usage, buy-back policies of your electrical distributor, number of sunny days, angle to the sun, etc. Still not "free" for a very long time.
Dude sounds like he was sponsored by Tesla
You compared the most expensive accord hybrid trim vs the cheapest Tesla. I understand you wanted to compare similar features but if someone is trying to save money, they would be willing to give up some features. This means you can get a hybrid accord for under $30k, do your own oil changes and basic easy maintenance like brake pads and air filters and you will save a good amount of money over the Tesla.
With the Model 3, $48k is the lowest price, you have no option to give up some features and save money. The original price of $38k was perfect, the price hike takes away the good value.
Now let's compare a rolls Royce with a Honda accord right ? Or a buggati Chiron . It would make more sense to compare a car with a car with similar features than to just get a luxury car and compare it with some garbage and see what car is cheaper , at the very least you could get some features to get it closer to the features of the luxury car and so that it's not that shity
@@Christs_Apologet I owned a model 3 for 2 years and I can assure you it’s no luxury car. You could say premium car but that’s about it. Mine started developing multiple rattles at just 6k miles, the road noise was terrible, the windshield started making a whistling sound around 9k miles right before I sold it. Suspension was rough and it wasn’t even the performance model. Good powertrain and tech but it’s poorly put together.
@@officialyasir I agree with you. In order for EVs to be more economical for everyone, the purchase price MUST be the same as ICE vehicles. And considering the recent price increases by Tesla, they have become even more unaffordable for most people. We need more cheaper EVs than what Tesla is offering.
In addition, he kept the comparison to only the range the Model 3 can go, the Accord can go much further before needing to fill back up. In addition, there are not as many chargers in small towns, so the Accord would be much better for traveling all over, while the Tesla would have a much harder time visiting a small town in Texas for example. Also, yeah, I noticed he picked the Touring edition, while picking the lowest Tesla 3, but what about the Tesla tech package that is 12k on top of the already price hike, why bother getting a Model 3 without the cool tech. Overall, it was a good video, but it sort of pushed the Tesla to the top unfairly.
Honda Accord is driven by grandma and grandpa. No way they can change their own oil and fix their own brakes. Once they get under the car, they may never get out from under it.
Thank you for this cost comparison. A couple of differences for me: In my area, the interest rate for financing any Honda is 3.9%. Tesla is about 4.49% right now. Also, the variable portion of our electricity that would be affected by an EV is $.23 p/KWH (confirmed by my provider). So, the comparison wouldn’t look as good. The fun factor still helps, though! Lol
Drove Tesla model 3 and it was 9.7 cents per mile for super charging. My Toyota Camry hybrid was only 6 cents per mile. Plus my hybrid charges/fuels in 2 minutes at any gas station. I can drive 600 miles before refueling. In the Tesla, I charged after about 170 miles. Hybrids are better for people who drive any significant distances.
Great info. I recently rented a model 3 for 3 wks. Ended up purchasing 22 hybrid sport.
Nice comparo.
Guess I'm staying with my $23,000 Honda Accord hybrid.
$4800 maintenance for 5yrs on new honda? That's inaccurate.
The only thing you forgot was the price of happiness that comes with a Model 3. Good video. Thx.
Haha... very true!
Do another one with bmw 4 series audi/Mercedes etc with their premium fuel and what not I'm sure it would make for a blowout
2020 M3 SR+ and we love it. 17,000 so far, and without a doubt the best car my family has ever owned!
I drive 60k miles a year lol
2 things: Average vehicle ownership is 79.3 mo. (1) I would like to see a comparison pushed out to 7-10 years, which would have to figure in the cost of battery replacement at $5,000-20,000? (2) As solid-state batteries and EV's become available near the end of this decade, do you think the value of a Model 3 is really going to be significantly different than a Hybrid or appreciate (particularly if you haven't replaced the battery)?
Great video. I hope it makes you enough money to buy some furniture.😂 As a Model 3 AWD LR owner I do see the savings. I wish that you had put a weather, winter or summer disclaimer in the video. It may not make that much of difference going from L.A. to Phoenix but I think it's important for potential EV owners to understand winter vs. summer energy differences.
this man is right.. environmental costs..like I have maintenance of model 3 should be up..
will the model 3 with stand the harsh winters of northeast roads of salt , snow??
Not to mention the time investment if you're going to be super charging
My off peak is now $0.348 (2024) from $0.27181 (2023). It’s a 24% increase. Now cheaper for me to drive a hybrid or gas car on my 100 mile commute.
There's no way it's cheaper without subsidies as many of us top 25 cents per kilowatt-hour, which will continue to rise as EVs tax the grid.
Hi John. Long time follower here. I think you are spot on. I watched one of your first comparison videos with the Model 3 vs Camry back in 2020 and that convinced me to buy a Model Y in Sept that year. I've owned it for 20 months now and only spent $280 in electricity. I did my own calculations and if I sell now my cost of ownership will be nothing. I will actually make money. I don't plan on selling it anytime soon, I plan to keep the car until a million miles!
Perhaps it is just an upfront cost, but the home charging station and installation can be a significant cost over the first few years depending on your home. New panel, etc.
Excellent video. Anytime you’re doing a business case you have to make assumptions. I think you stated your assumptions and you backed him up with some logic so I think the analysis is well done!
The analysis is grossly incorrect
This was a great comparison for the average consumer (buy new and drive for 5 yrs). As for owners looking toward longevity, I wonder what the numbers would be given potential battery replacements, gas prices, & etc.
Couple points, I wanted to highlight. 1) solar panel comment. There’s an up front cost (I.e., buy solar panels, installation, battery storage, and wiring) for “free electricity. ” in other words there’s no free lunch here.
As for long trips, driving time is overall longer provided you have to recharge every so often while with a hybrid you can fill up relatively quickly.
A Tesla battery is good for 300k-500k miles so you replace the car before the battery.
@@triangles4467 there are plenty of model s's out there that need new batteries by 150k miles already. Can't say that won't be the same about the model 3 as there gets to be a lot of higher mile/older ones out there.
@@lhaaker how many of those were early model s's? How many of those batteries were abused? How many were out of warranty? I've only heard about the rich douche that blew his up instead of paying 22k for a new battery. And his was an early model s. I would be disappointed if my battery only lasted 150k but not terribly so. I don't expect a car to last past 200k. Especially here in the rust belt. Point being very few EVs will ever have a battery replaced much the same as an engine or transmission failure in a high mileage gas car will usually send the car to the scrapper.
You really made the case for the Honda. Compare the most expensive Honda to the cheapest Tesla, and use outrageous gas prices still the Honda is very competitive. Electricity in Cali is probably around 25 cents not 14.
Sad as it is to say, any apples to apples comparison with anything, the Honda is going to win.
So just buy the Tesla because it is super cool and be happy.
The gas prices are the nations average at the time of the video. The cost of electrify is 25cents in cali? I bet you are well above the average cost of $4 for gas as well.
And you have to compare the nicest Honda to the base Tesla because they are the most similar…
How is insurance same for both cars? Afaik Tesla insurance comes out to be 2/3x of accord
confused by this as well.
Your video made me crunch some #s on my VW diesel vehicles...and as efficient as they are the Tesla still beats it! It's costing me 12.76 cents/mile to operate my diesel vs the Tesla's 7.6 cents/mile with SoCal's Edison rates here in CA.
For my model 3 rwd charging is free
All my power from 9p to 7a is free so i just charge at night
Excellent video. Thank you for taking the time. One thing which i did not expect u to touch on but is a consideration. Performance. I don’t think the honda would see which way the tesla went.
I looked at a tesla long range seling for 48k before paperwork, right behind it on the lot was a practically brand new accord hybrid sport with 1200 miles 33k after paperwork and keys in hand, costs me $37 for a full tank and i get 520mi, from where i live i can go to either the keys or atlana on one tank both are over 400mi away from me
I didn't follow the math on the Model 3 energy costs. Did you use the MPGe and the cost of gasoline, or did you use the 250wH/mi and the cost of electricity?
Great breakdown. I really want an EV (probably a Tesla bc of charging infrastructure) but I don’t have an at-home charging option. I live in an apartment. So… for me it’s probably going to be the accord/camry hybrid for now (probably the Camry bc of price and resale value). For me, the camry at under $30k MSRP and me driving around 7000 miles per year is the way to go (7000miles/48 mpg)*$4.50 per gallon = $657.00. Over a 10 year period of time… this means that I’d be about $37k into a Camry (not counting oil changes). That’s still better than the initial price of the Tesla.
And you know a well-kept Camry can last a lot longer than 10 years. Not sure if that's the same for EV cars
I like the info given and it is nice to see, but I feel some of the numbers were off a good amount. A Touring Accord Hybrid sales for 38k plus taxes and EX-L 34k plus taxes. On the flip side, the gov EV tax credit I feel is a bit more than what was listed. overall I think again the info was something needed to help the buyers of either to make a smart buying decision.
The cost to insure a Tesla is high, I was quoted about $150 monthly, I have a new midsize truck for just $80 a month. I like the idea of electric cars, and likely own one when range is over 500 miles minimum. Recently I rented a Tesla, car needed recharge and that was painful, either slow charges or not compatible to the vehicle.
I think your estimate on maintenance for Tesla is on the high side. I have a 2015 Model S 85D and so far my maintenance is 2 bottles of windshield washer ($10) fluid and new set of tires ($1200). I do not rotate the tires because it is an all wheel drive car so the wear is pretty even. My 12v battery needed replacement but was covered under warranty by Tesla. You also need to calculate the wasted time with servicing an ICE. Taking my ICE car to the dealership for an oil change waste between 45 minutes to 1 hour depending how busy they are.
The story changes a bit when you live where electricity costs are .32 cents/kwh+
I recently did a CVT oil change at 42k miles on my 2022 Accord Hybrid. Cost me about $250. Many mechanics have said 30-40k intervals are important to service your vehicle to make sure the CVT system is clean of gunk and contaminants that could destroy it. Saving you more than a tesla costs 😉
I just recent purchased a Tesla Model 3. I agree with some commenters that a comparison to 3 Series BMW would be more in the same class of vehicle. One thing that isn’t being factored into the calculation for cost of ownership is the cost of installing home charging. It is varied from person to person. I have heard of people installing a charger for around $500, but in my case my situation had my charger costing me well over $2500 to install.
The thing is the bmw is car you buy because it’s fun, it’s never economically makes sense to buy it. I don’t think it makes sense to compare to a Tesla if cost is a concern.
Also what about the Tesla tech package that adds 12k? or time vs money for how much longer it would take to get to a destination vs the two cars? The accord can go further, has no worries about chargers not being in the town, ect.. Overall, though, this is a great video, thank you!
I recently purchased a Model 3 LR and there is not a tech package option. I looked it up and see that in the earlier Model S years they had a Tesla Tech package. Are you referring to the $12K FSD package?
@@scraig248 yeah, that package, the self driving package that they are going to be releasing soon.
Its almost close to 90% accuracy,nice job
I drive a 2015 Tesla Model S as a taxi, which means high mileage @ about 10,000 km (6,000 mi) per month. Gas prices here in Europe are significantly higher than in the US. Tesla app Charge Stats show that I save monthly over €1,800 ($2,000) in just driving the car. On top of that I'd have to do maintenance every two months and the car resale price would depreciate much faster if I was driving a gas car.
This more extreme case, but the reality is that the more you drive your EV, the cheaper it gets compared to a gas car. Plus, it's much more fun and relaxing to drive a Tesla, so you might actually take longer trips in it!
I drive around 70,000 miles a year should I buy a 2023 model three or a Honda accord touring hybrid?
@@chrishoinke293 Definitely Tesla Model 3 with all the rebates if you're in the US. Total cost of ownership will be radically lower for a Tesla
Yeah. But you also spend hours of your life stuck at a super charging station. The technology will get better, buy for now I'm doing my hybrid
2 year service for Model 3? That's not necessary.
Now can you do toyota rav4 prime which gets 85-90 empg combined.
I'd like to see the same comparison against model y or 3.
Great comparison, I do get some free charging here in CA, such as chargers at Target, Malls, Casinos and other shopping centers. They typically have limited numbers of chargers and are frequently busy, but last month I got 100KwH free. Superchargers off peek are 50% less expensive, which for me is 5 cents cheaper than home. I did get $2750 in incentives, which you mentioned.
Bro, you save a buttload more money with an EV than an ICEV than you've depicted here. EVing since 2015. There's virtually no service cost in comparison to ICE, and virtually no fuel comparison costs. ICEVs have huge maintenance costs even if you do most repairs yourself. ICEVs tear themselves to peices when used as directed. Go to an auction, buy a low-mileage cop car that's been idling all day everyday for years. EVs a different story.
Model 3 base model in New Zealand starts at 51000 usd
I agree with your calculations but comparing mostly driver is buying car also model 3 or Honda Hybrid into Uber.& our driving is in a year specially which I drive in New York a year 50.000 mile so I don't know how good is Tesla 3 on this please let me know but right now I am driving non hybrid Honda CRV Awd 2016 model running perfectly only one time I have change transmission. Which cost me 2000 dollars so now soon I will change a my Honda CRV can you give me your option which one should I buy Hybrid or electric. Thanks
New tires on year 2 and 5?? What’s going on here?
The one thing you’re missing is the money value of the money saved. The 10k priced difference can be put in low risk etf such as spy can can conservatively earn 10 percent annually. This significantly puts the edge towards the accord.
What's an etf
you could compare honda clarity plug in hybrid to tesla model 3 , its electric version of accord
I doubt the maintenance costs are that close to each other. Also the lifecycle should be taken into account. The resale numbers will be drastically different.
I bet a lot of people would have preferred that the comparison included a pure ICE version of the accord, since they cost less to buy, and are probably more popular than the hybrid, being a better example of how switching to an EV affects most people's finances. Did you actually do this John, but the numbers didn't work out so nice? The ICE version costs about 15% less to buy, but it's EPA fuel economy is about 25% worse.
No difference between gas and electricity use here in Hawaii. The only benefit s I don’t have to go to a gas station. No supercharging here , and I have to charge at home .the KWH is 42 cents for now , will go higher 20% next month because of fuel cost increase here in Hawaii .most benefit is in states like Florida r Nevada where the KWH cost is 12-14 c per KWH
Holy cow, 42c in HI?
Georgia has an abundance of nuke power. Georgia Power charges just $.01/kWh from 11pm-6am. It’s a fantastic deal for EV owners.
What's with the TruCar prices? Use the MSRP.
I realize Tesla isn't listed there, but I'm sure if you wanted a new Tesla and didn't want to wait a year for it there will be a significant price increase from the MSRP that you haven't accounted for here.
I’ve made a financial mistake guys & gals (22), in 2021 i was uninformed and unprepared for the imminent threat of gas prices and other variables; was eager for wheels to get me a-b for i was frugal & desired x car.. i have a 2021 Honda Accord 2.0 Sport & am contemplating on trading it in for a used model 3.. should i? I acquired 40k miles within 1 year and drive an hour to and fro from work throughout the week. Any insight would be helpful, thank you
I think you overestimated the maintenance costs the Tesla because it was fairly conservative
Great analysis for the most part. You made a lot of good points. However, your choice of electricity cost doesn't really reflect the total truth.
First, only using the national average cost per kWh does not address 9 highly populated states, where the cost of electricity is $0.19-$0.30+/kWh. California, for example, has a huge population and a high number of EV owners, and their electricity cost is over $0.21/kWh. Second, in many states, many fees are directly tied to kWh usage and add up a lot. In fact, in my previous state, the cost was about $0.21/kWh, but the fees just about doubled the cost. It's probably better to give a range of state electricity costs (lowest vs highest) to give people a an idea of how varied the cost of electricity can affect the cost of ownership. Lastly, there's Tesla's Super Charger usage. While you touched on this point, you should have included some percentage of periodic use of Super Chargers. Super Charger usage definitely plays into cost of ownership and cannot be ignored. I don't know what percentage of Super Charger usage would make sense since people have very different travel habits. I knew EV commuters who would charge at work 5 days per week, which is a high percentage of their weekly charging time. Some retired people might take lots of road trips and charge along the way. I'd suggest that you pick a low and high usage value, say 5% and 20% or whatever. You just can't ignore Super Chargers entirely.
I really love Teslas, but don't fool yourselves into thinking that they are carbon neutral. On the contrary, electric vehicles actually have a substantial carbon footprint from the manufacturing process. Then there's the source of electricity. Here in the US, 60% of electricity is generated by fossil fuels vs 20% from renewables, so this greatly adds to the lifetime carbon footprint of a Tesla. Don't take it from me. Do your own research. There's lots of data on the subject. Just don't be fooled into thinking that electric cars are carbon neutral.
Once again, thank you for the analysis. I do appreciate the effort you put into this.
You should do another one of these after all the price decreases, rebates and incentives 4/29/2023
you haven't include the battery replacement fee. From what I know, around 150k miles you need to change the battery of your vehicle. That roughly cost $10k. So 75k miles proportionally calculation is a 1k mer year. That will make Tesla model 3 a higher ownership cost.
I fueled up our ct200h hybrid yesterday… gas was $5.99/gal, and I was at the lowest cost station around here (Safeway). Chevron was about 50 cents per gallon more. 😬
Yikes!
@@Cleanerwatt Thanks a lot, Putin! 🤬
A clear winner for the Honda costing at least less 10000$ upfront. That value is not considered on the final savings/costs calculation. And should be.
I'm at 64,000 miles on my Model 3 after 2.25 years. Still working great, super cheap to run. Only service I've done not covered by warranty is tires, wipers, and cabin filter.
Awesome!
Has the range went down due to battery degradation?
How much is ur insurance
The heavier (batteries) Tesla will wear out tires about twice as fast as the Honda.
We are a Tesla family, I own the stock & have a Cybertruck on order, my daughter has a M3, my son has a MY & MS
RICH family!!!!
I am milking my current ICEs as long as I can now. Even if the electricity is free, a Tesla still can't beat my existing vehicle. The mere insurance difference will more than cover my gas money.
Only concern I got is how much is a battery pack on an electric vehicle? A tranny is way cheaper, do battery packs las long? I’m not sure if it is the time to be in electric I would like to wait a little bit more, Tesla is also notorious for wheel seal leaks, there is oil in the hubs and they tend to leak quite often.
And what about time lost charging? Rentals for long trips? Cost to install charging hardware at your home? You're comparing apples to basketballs with this analysis.
My 2021 Model 3 LR in New Zealand requires factory maintence visit at 4 years where i notice yours is at two years. Mine is made in China.
Interesting... I will have to look into it and see if there has been an update for the USA model.
Pretty good comparison except the insurance cost might be way too low for a Tesla. On the other hand, the cost is too high anyway.
I bought a gas guzzler XC90 last year for about $2000. It came to almost $3000 after repair and registration. If I drive this car every day, I would've spent $200 on gas (I use regular). Well, it is a 7-seater with the capability of carrying lots of junks. Of course, this does not sound like a rich life as one can shell out $50-60k for a new vehicle. So, for most people, it is a moot point to compare the cost of an EV to whatever vehicle and make the EV look favorable. For me, every year I can milk out of this wonderful gas guzzler, I am saving a huge amount of money comparing to purchasing a new vehicle. For most of us, who do not have much $, but still having half of a brain functioning, we stick to what we have or get on a cheap used ICE car. When I have the luxury of spending $50k or even $100k for a new vehicle, I just get what I want. Saving a bit of money is no longer a primary goal at that time, not to mention an EV is not necessarily more friendly to the environment in a long run.
Buying the regular Accord gas option is the best way to save money over the Tesla model 3, it’s 10k cheaper than the hybrid. So you comparing a vehicle prices at 28k to 48k, the 20k difference is hard to beat over a span of five years and 75k.
It is a very interesting comparison. But telling electricity from solar panels is free is completely false. Panels, installation and connection to the main electrical board are quite expensive and lifetime of solar panels is between 15 and 20 years. According to US Energy Information Administration the national average cost is about 13 cents/kWh in 2021.
What’s the drive time between LAX and Phoenix in a hybrid versus an electric car?
Filling a car with gasoline is maybe 15 minutes with a restroom/stretch break. How long does it take to charge a Tesla to get to the next charging station? Would somebody reasonably save time by charge their car just enough to get to the next station? Serious question.
You are correct in that its fastest to go from say 65% to 20% and then charge again.
I make a 350 mile round trip every 2 weeks and since I charge at home (120V 15 amp outlet), I don't need to charge all the way up, only enough to get home (I leave home with 95%, get home with 20%). I stop and charge on the way home and takes 12 minutes which is barely time to pee and get a coffee at the store across the parking lot. People are used to filling a gas car where you fill to 100% when you stop but the last 20% takes a lot longer than 20% when the battery is lower.
On the other hand, if you are someone who drives 1000+ mile trips all the time, then stay with Gas.
A Tesla stop averages at 20 minutes every 3 hours on a supercharger highway at normal traffic speed. However that could be more or less if you have a significant lead foot.
Love it! I also wish they would lower fix costs and add emission surcharges. Overall noise should cost extra!
Is model 3 comfortable like Honda Accord?
You forgot to count rental car expense for Tesla owners when they go for a long distance vacation.
I had a model 3 rwd ready for pick up today, but I decided on the honda. Time is money and I value my time more than savings on electricity. I also would hate to charge my car on road trips with the kids. To add on, teslas quality issues are absolutely nuts for its premium price. It is no surprise my local tesla has 2/5 yelp reviews all due to quality. Maybe in 6-10 years, but for now the hybrid will do great.✌🏼
kids and roadtrips are def a huge factor but do you only own 1 car with a family? how may road trips per year? if it's time you want to save daily, then having an EV does that as you shouldn't ever have to stop at a station for your daily needs.
The math doesn't add up right here for me. For example, using your numbers, purchase+energy+maintenance = $50203 Honda and $54760 Tesla for 5 years. The Tesla 3 is also not eligible for Federal tax credits anymore. Yes, state incentives (like OR) do help with $5k rebate. Also, to be fair, the batteries on both vehicles aren't great for the environment to create or somehow later "recycle". And, in both cases, you are buying new vehicles that have to be manufactured and shipped. While vehicle emissions are better on both, to be sure, there's an environmental hit for that manufacturing, supply chain and shipping. Great discussion points, to be sure.
Good video. Main point here is hybrids are as cheap to run as EVs. I can't stand when tesla compares fuel cost to a 20mpg car. I bet if we factor in 5 year cost either the Toyota camry hybrid or a prius is probably the cheapest to own.
Hybrids are the worst of both worlds. You get an underpowered engine and small battery pack. Better off to go either full EV or stick with gas engine.
@@molassis8474 spoken like someone who truly doesn't understand.
@@paladain55 I've driven a prius and it was garbage to drive. Not enough power to climb a small hill.
@@molassis8474 nice.
I agree. Especially regionally. Here in CT, electric cost is currently about .24cents/kwhr and gas is about $4.80. I've got a 2021 Accord Hybrid EX and am getting on the last 5 tanks of gas over 600miles each tank and fuel economy around 62mpg (I drive back roads to/from work about 30miles each way which is what hybrids are ideal for driving for best efficiency).
In CT with a model 3, it would cost me about $18 to fully charge a fully depleted battery that got me 295miles of range. For my Accord it's only about $5 more and while gas prices rise and fall and are at a peak right now, we never have electric rates go down significantly around here.... Likewise for maintenance, too early to tell on the Accord, but i still have my 2007 Civic hybrid with over 200K miles and the most i paid for maintenance (not including tires which are pretty cheap for that car) is about $2,500 (dealer $50 oil changes every 9K, dealer CVT fluid change every 60K, 1 set of brakes, spark plug replacement 2 times, 1 windshield wiper motor assembly, couple wheel alignments and 2 12v batteries and multiple wiper blades and filters....) and the car still runs as good as the day it was new). as far as any comments about fun to drive, sure, it's not a Tesla, but the Accord hybrid has 212hp which equates to 0-60 in just under 7 seconds which when needed is plenty for me.
And.... for the approximately same features and same price, with the Accord you had a car that was about 10% larger. The Honda Insight is about the same size, and costs 10% less than the Accord.
.03$ for not being attached to a cord is priceless
OPEN UR EYES 25k extra not 10k for an electric car compared to a hybrid, i can buy gas for 15+ years lol what a joke.
I’m just worried about the monthly finance. 90% people will not purchase the car upfront.
I kind of the idea of driving 600 miles and filling up the tank in 10 minutes rather than having to stop to charge the battery before proceeding. And not having to look for charging stations on a cross country trip is another important thing to consider. In California the power grid is such that I would be concerned about charging if there was any kind of general emergency situation such as fire or earthquake. I will wait until the utilities and infrastructure catch up with the technology before considering an all-electric Vehicle. The politics of this push for doing away with our tested and true energy system is not currently responsible and political resistance to nuclear is totally ridiculous.
This analysis is so bias, 5 year ownership but you used todays gas and electricity costs? What about insurance costs? There is a huge difference in Canada, Teslas are almost 50% higher to insure. Why would you mention solar panels? If you add them then also add the capital costs of them as well.
I like both cars
the environmental concern you can toss it over the window, any wildfire will offset any miniscule gain you can make with an electric vehicle. It comes down to reliability, cost, and overall experience. It looks like both options are very tied up, except when you consider if you are ever liable for replacing a battery or any other critical component, say good bye to 6 to 16 grand depending on your stubbornness. That's why I bought the accord hybrid. That being said the tesla is just a unique experience
New place?
But what happens AFTER 5 years? I'd worry MORE about the 10-year resale value and cost of ownership.
The battery is shit after that long
Look at 10 year old model S prices - 90% gone
So according to your calculations you're gonna go through twice the amount of tires as you would with a ice vehicle? Is this correct?
EVs are heavier and wear out tires more often, and I accounted for this.
check your depreciation numbers now......cant give a tesla away even at the dealerships. Also do the cost comparison on a regular gas accord and the cost savings up front more then cover the difference. If you want an EV then fine....but the cost of gas vs ev is the key.
I read all of it.. I agree with it all..... BUT... you gotta add more cost of maintenance of the model 3.. this is a belt drive car... belt maintenance, and most importantly the tires!!! the specs on that car that to be right.. the mount of torque and long range can go towards tires.. what.. the real battery life of a model 3. ??? car battery are usuly 5, but really 4.. ..I think article needs to reflect that the model 3 cost of maintenance has to be higher.
You can't compare two diference size of car it will be more different in price if you find simultaneously car
Is it really necessary to do all those maintenance on a model 3. It feel like I own a gas car all over again.
Compare it to the new Honda civic petrol.
My 2018 Accord 1.5T just had a fuel injector fail at 58k error code P0172 (posted on my channel). It's a good looking car but once the warranty expires you're on your own and you have no idea how expensive modern Honda engines are to fix. Oil changed at 80%, Shell regular used 80% of the time, always did warm up the car in the winter. Dealer so out of touch they recommended brake fluid replacement at 30k. I've never seen this part fail in ANY of my past cars. When asked why fuel injectors failed so early they said they see them all the time and $1600-$2500 would fix my out of warranty problem and warranty is only for 12k/12mos! Fool me once shame on me, fool me twice...
thats crazy ive had a 99 accord for 11 years and i havent accumulated repair thtat totals that in the 11 years ive owned the car
Very good and accurate comparison!
$2k over 5 years isn’t enough of savings to move from gas to electric. add in financing and i bet it becomes almost a complete wash if not in favor of the hybrid.
Do you feel like switching to a Tesla Model 3 would be burden? The Model 3 is a very fun vehicle!
@@Cleanerwatt i am sure it is. but is it worth $300 extra a month for payment only to save $75 a month in gas price? that’s the struggle i have with EV and there is no true answer that’s right or wrong.
The maintenance and repair costs are at best fudged. Other than oil changes there should be no maintenance cost differences. In other words, things like wipers tires etc can be neglected. As far as repairs go, few cars will need repairs in the first 5 years so both of these should be zero. Then there's the complete omission of states that charge annual taxes on hybrids and EVs like Ohio that charges $200/year for any vehicle with a plug and $100/year for a hybrid without a plug. Also if you are comparing a traditional car to a model 3 wouldn't an Accord sedan be a better comparison? I'm a model 3 owner and will likely never buy another gasoline car. Your excessive EV bias is embarrassing. If you're going to do a comparison at least try not to be so blatantly biased.
Here's the thing. The only true comparison is cost per mile. Including purchase, insurance, energy, gas, loan interest and depreciation over 5 years. Anybody can make an argument, not necessarily is it correct. And, if you think people would not bat an eyelid at an extra 25% on the purchase price of two "similar cars" then you know very little about people.
I think this is silly. The real question is not which high priced gas saving vehicle is better over time, it's whether a cheaper 25 to 30k gas vehicle is better than a 45 to 65k Tesla over time.
I'm pretty sure I heard that the model 3 has the highest insurance cost
nope. i can tell you personally that it cost $40 cheaper per month to insure a 2023 model 3 than it did a 2016 Q50 in Texas
The accord hybrid base model is 28k. Model 3 base is 46k. You cannot compare these vehicles.
Imo..
1. No one spends that much for maintaining a honda. Prob a quarter of that cost.
2. I feel depreciation for ev will be accelerated instead of ice. Reason being since ev's are so new. There are constantly advancement. Ie. Better battery etc. Ice vehicles are at their peak. In 5 years there won't be huge advancements. Also as more and more legacy auto makers enter the ev market, current ev's will depreciate faster. Another thing to consider is the production cost of ev is becoming cheaper. In 5 years we will have mich cheaper ev than we do today. Driving depreciation even harder
What happens when you factor in battery degradation?
There's plenty of info on this out there. Battery degradation after 5 years is negligible for a large portion of Tesla owners. I've read less than 5% loss after 5 years.
@@eddm.3765 abundance of info is not what is as important as is the source
If you have solar a ev is a no brainer
Very true!
Uh… wow you’re paying a lot for wiper blades and tire rotation. I would expect to pay about half that…
That is the cost for Tesla OEM wiper blades and for Tesla mobile service to rotate your tires. Of course it can be done for less, but I wanted to make this comparison as fair as possible and not bias the math falsely towards the Model 3.
@@Cleanerwatt Well, to be fair I wouldn’t pay that for a Honda either…
No dude. The "true 5 years cost" is not cheaper with the Model 3. You're misleading people. The "True 5 years cost if you're going to sell the cars at that time" is cheaper with the model 3. But not to simply own them. Most people I know keep their cars for 6 to 10 years. Maybe where you live people flip cars like they flip outfits but that's not a cost of ownership. That's a cost of 5 year and resale. The Honda, like the Toyota videos just like this all show that the the EV is much more expensive even considering fuel and maintenance UNLESS you're going to sell every single car after 5 years. How many of us do that? Had my Golf GTI since 2016. That's 6 years and I only just now need to get new tires.
how can you not include deprecation? it doesn't always make sense to keep a car that long. i mean, sure, if you bought it used and for cheap but for a brand new car (or semi-new car), you should look to sell it at some point to get your money back and invest into something else before all the value drops out