Tesla Model Y - Ultimate Retirement Car or Money Pit??
ฝัง
- เผยแพร่เมื่อ 16 พ.ค. 2024
- This video discusses if the Tesla Model Y is the ultimate retirement car or just a retirement money pit! The video discusses how to get the best price (including an additional $3000 off in many cases), tax rebates, features that retirees will love, and others that retirees will hate) and why the Tesla Model Y should be a consideration for the next purchase.
FREE Retirement Ready Checklist:
HolySchmidt.com/Checklist/
Important Links:
Follow Me on Instagram:
/ the_schmidtlist
Geoff's Facebook Page
/ geoffreymschmidt
Federal Reserve Board Survey of Consumer Finances:
www.federalreserve.gov/econre...
Social Security Administration Application for Benefits
secure.ssa.gov/iClaim/rib
Current Social Security Cost of Living Adjustment
www.ssa.gov/cola/
Social Security Payment Estimator
www.ssa.gov/benefits/retireme...
THE CHANNEL’S MOST POPULAR VIDEOS
Should You Take Social Security at Age 62 and Invest it?
• Should You Take Social...
7 GOOD REASONS to File for Social Security Benefits at Age 62
• 7 GOOD REASONS to File...
Average Retirement Savings by Age 60. Are You Almost Ready to Retire?!?
• Average Retirement Sav...
The BEST AGE to File for Social Security Retirement Benefits
• The BEST AGE to File f...
3 Social Security "Little Known Facts" That Are REALLY Important
• 3 Social Security "Lit...
Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.
As a senior citizen Tesla Model 3 owner who's driven it coast to coast twice, I can tell you the 250+ mile range on road trips is not the limiting factor, it's the 150 mile bladder range😂
Amen
Couldn't agree more.
Lol it takes ~30 min or so to charge at Tesla super station. Cheaper than GAS
You should see a doctor. 😁
That’s what I say to everyone. And then there are the kids too! And feeding time…😊
My goodness and wow. That is the first time I have ever heard an electric car owner present a case for ownership that is complete, … a regular, American- English, speaking person, talking in regular terms that were fully explanatory. Thank you very much.
You bet.
Dirty copper and how environmental toxic it is just look at Ontario and the mess copper made mining it it took 50 years for Ontario to start repairing itself
I find it odd that you did not mention the purchasing experience. No salesman, no finance office, nobody trying to sell you window etching, upholstery treatment, gap insurance, etc, etc. Far and away the best purchasing experience I have had.
What! No paint protection treatment for $2K?
@@JBoy340anope. Of course you can always buy that stuff via a third party.
City cars screw range think of the people that need to go work electric is good for stop and go regen braking
No nitrogen for $500? What am I going to do with that 3/4 of the air I'm breathing?
Purchased a Bolt EV in 2021 with no haggling, and no extras pushed on me. I bet those 2022 Tesla buyers wished they were offered gap insurance after Elon stopped price gouging, and lowered Model 3/Y prices back down in Jan. 2023.
Bought a brand new Tesla Model 3 for cash in 2019. Got a $3500 tax credit handed back to me that year. Have over 52000 miles on it and it has NEVER been in the shop. No oil changes necessary. I have only replaced the tires. The service team came to my house to do that. The only time I visit a gas station is to buy a pack of gum and to put air in my tires. I charge my battery every week at my house for a couple of dollars a day. I look at it as an annuity considering all the cash I save each month vs. a gasoline powered car. Probably will be my last car because the electric motors and battery are warrantied for 120,000 miles. Teslas are one of the few automobiles made with American materials, by Americans, in America. Love love my Tesla.
👍
Governments are losing tax revenue from the sale of gas. When will the government tax the milage in EVs to make up there losses?
Good point. Geoff forget to mention the at home service available in metro areas. They even came and replaced a tire in my garage. Same price as going to their service center. I tipped the guy nicely since I could continue to work and bill while the tire was changed.
@@whitburn60 most states have an EV fee to compensate for lost gas tax revenue. We pay it as part of the total annual registration fee.
That’s it I’m getting a model Y 😮
Good analysis. I have a Long range model Y and a home with solar. I purchased both a couple years before I retired. Now I pay little for electricity, gas or maintenance. Charging access at home or work is a must. Road trips are not a problem with Tesla’s charging network. I appreciate that EVs are not for everyone but it is perfect for me. Once you drive an EV you won’t likely want to go back to a gas powered vehicle.
You should watch aboutdirty copper and the bad for the air and use up all the water and turn it into toxic stew
Excellant
A perfect analysis sir! 🙏🙏🙏🙏
@@Dkrpan59sorry, can you explain the issues? All cars have copper, we have plenty of copper sources. I'm guessing you heard somewhere that EV batteries are made of rare and hard to get minerals. All cars are made of minerals of course, they came from a mine. We also have a lot of negative environmental impacts from getting gasoline and oil comes from a lot of countries with terrible human rights. The most concerning component of EV batteries is many contain some cobalt. The good news is increasing numbers of EVs are made without cobalt, including the Tesla red car - it uses lifepo4 batteries. We keep improving the quality of energy sources over time, but a gas car never gets more environmentally improved.
@@lattelandlatteland not like electric
i bought a model 3 last december, and it is the most fun ever! It's the best and well worth the initial outlay. I paid cash as i was able to, so no problems for me... i am 68 and drive my little heart out on windy, lonely mountain roads... the handling, the acceleration, and anything else you can mention is superb!
Bought my Y in 2020, still raving about it, love the low maintenance
No doubt being financially free and not having to worry much about health care and other luxury expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
I'll have to be financially stable in every sense before purchasing my first supercar. The best thing to do with your money is to invest right and plan meticulously for retirement
I started out last summer and it's been a series of losses for me. I'm finding it very difficult to make profits and at this point I'm getting extremely frustrated.
You need to get a financial planner or expert on investments to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
This summer my husband and I did a road trip with our Model Y. We drove 5550 miles in fifteen days in FSD. Never had a charging problem. Love our Y. We had a three but I had trouble getting in and out as it is lower. Gave the three to our granddaughter. We now own two model Ys. We were in Tucumcari NM and when leaving our hotel there at the Tesla hotel charger was another identical modelY and from our state. Amazing coincidence. I love dog mode as my dog is almost always with me. Love my Tesla. Thank you Elon!
We picked the Y for the extra room...... wife and I are both tall....... and the higher seat, easier to get in and, especially, out. Let's also acknowledge that there are many shopping malls and centers of town where the premier parking spaces are reserved for electric cars, too! We drive into the town center, park right in front of a specialty grocery store and a restaurant we like, charge for free, then go a block to pick up the regular groceries we ordered the day before. We get home after an enjoyable day of errands and dining with more charge than we left with and it was free, plus no parking fees.
As a retired senior who has owned a MY for 3 years I have to say this is one of the best and accurate reviews. 4 points I would add. This is the most fun car I have driven ever. This is what sold me on it. 2nd is that the 3rd row does not face backwards. It is very small and only comfortable for small children or pets. 3rd this is the safest car you can buy according to the insurance institute. 4th is you don’t have to buy from a dealer. You buy it from home on your Mac, iPhone, or iPad. Easy Peasy
Or Android, or Windows PC.
I love your video which is honest and practical. I am 81 and I have about 60,000 miles on my 2020 Model Y. I think the model Y is great for seniors.
Great practical explanation. We have owned 2 Teslas, a Model 3 & Model Y. Now in my upper 70s, Driving to Oregon or Minn from Phoenix several times during the year is so much easier with Auto Pilot and FSD, and we sometimes will sleep in it. It is fun to drive, and the over-the-air updates can make it feel like a new car. Yes, it is the perfect retirement vehicle for us.
I hope i get one of the 3rd gen Cybertrucks sometimes before 2030 in Europe. That will be the last vehicle i will have bought to drive in my life. And i hope it will be delivered with FSD. Until then my employees and me all drive Teslas.
How is the out-of-warranty repair service and cost of getting that service?
Nothing scares me than getting a single nut fastened out of warranty on a Tesla. I hear you'll be out thousands. I'd have moved to EVs but most ordinary shops can't handle fixes.
@@rohitnijhawan5281 I have owned two different Tesla vehicles. The first was a model 3, and there were no repairs needed in the approx. 18 months of ownership. We sold the model 3 because my wife wanted a vehicle that sat higher off the ground, and was easier for her to enter and exit. Our next and current Tesla is a model Y, which sits about 4 or 5 inches higher and is more ergonomically freindly for those of us in our late 70's. But both Teslas handle better than a corvette owned in earlier years, and on par with a more recent mid-engined Porche Cayman. But to answer your question about out of waranty repairs, there have been None. We did recently have the 12 volt battery replaced (under warranty) that powers the electronics, and this battery was the typical type found in all gas vehicles. We currently have about 39,000 miles on the model Y. Basic warranty is 50,000 miles, Battery (Main Drive) is 8 years or 120,000 miles and Drive train is 120,000 miles. Many people have asked "how long will the main battery last?" I have not heard of any bad news in this area. A freind in real estate has 90,000 + miles on his model 3, drives like a teenager, and has very little battery degredation. I have heard of many in the 300,000 to 400,000 mile range with batteries still going strong. New battery technology will only inhance both driving range and longevity. I will continue to drive Teslas' as they are the most troublle free vehicle available.
Sleeping in it is not a good idea. Does FSD pickup objects on the road?
@@miltgluppe If you mean recognize and avoid objects on the road then yes. At least everything as large as a duck.
Why is sleeping in the car not a good idea?
To me, the self-driving car will be a game-changer. As I get older, having a glorified cab will become highly beneficial.
2027supply will be passed by demand of lithium
@@Dkrpan59 Projections are only as good as their assumptions.
Yeah, I’ll get FSD if and when I really can’t drive anymore, but how will licensing work when FSD reaches level 4 or even 5.
Earth has copious amounts of lithium.
Where did you get your misinformation?
I’ll make sure not to ride my bicycle
Gotta say this is the best advertisement of a Tesla Model Y I've seen.
Best car I ever owned hands down
I actually have growing faith in the FSD package but not in some senior loved ones driving. When ready it may give a great deal of flexibility and freedom to elderly drivers.
FSD lowers insurance costs significantly, pays for itself, great in stop and go traffic as well as on long drives
I hope it works out that way. As a young man I remember how my grandfather became depressed when his children made him give up his car keys. He lost a lot of freedom to do things when and how he wanted. I am hoping technology lets me push this time down the road.
@@JBoy340a
I‘m very confident it will turn out that way
I purchased a Model 3 in late 2018 with the enhanced Autopilot that I upgraded to FSD when they offered it again. My hope was that by the time I would need it to drive me around it would be able to do so. I’ve seen it getting much better with fits and starts throughout the development process, and find that for most drives it will get me from my driveway to the parking lot of the place I am going to. I see the light at the end of the tunnel now.
I'm 82 and own a Y with FSD (full self driving). It's a godsend. I had had to give up driving at twilight and at night. Now it's a breeze. The only thing the driver is required to make decisions for is emergency type conditions that I would not trust FSD to handle well; so I simply disengage FSD for a few seconds by taking over the steering of the car. This requires very little extra effor to disengage FSD, similar to the Volvo when you try to change lanes without signalling. Just a slight tug for a fraction of a second. The smart cruise control continues as usual while I manually steer out of the perceived difficulty. I must note that I am an excellent driver with an equally excellent driving record. Only now, I'm much more confident driving in less that perfect conditions. Leave the driver to Lady, my Tesla Model Y. Much more refreshed at the end of any trip than ever. A side note: "one pedal driving" is a great feature. The regenerative braking allows you to drive by simply putting pressure on the accelerator to speed up just as on a GV and holding it steady for constant speed and then letting up either quickly or sowlsy to slow down in a controlled manner...never applying the brakes except in emergency fast stops. Kinda like driving the electrin bumper cars that were at the arcades when I was a kid. You never have to change the brakes as they are so seldome used with one pedal driving. Regenerative braking is what slows you down.
I am retired. I got a Model Y about a year ago, and your comments are spot on. I got the Long Range, and even then, I run it in chill mode for the same reason you stated. an interesting thing happened the other day. My wife has a gas car and was complaining about a steering wheel too hot to touch when she got in. The next day she complained about having to stand in the 105F heat to fill the gas tank. I too charge mine in my garage. I have solar and am retired, so I typically charge for free when the sun is out. Much lower operating costs. So far I have only paid to have the tires rotated once (in my driveway) and 1 gallon of bug washer fluid. This is over a 12,700 mile period. One last thing, my daughter has a Model 3. It is much easier to get in and out of my Model Y. I have the seven seater. The seats face the front, not the back. The seats are small, and leg room is tight. It is only good for short people and we rarely use them.
They would be superb for someone who is driving children around
Home solar + EV is a match made in heaven!
For a flat tire, the roadside assistance can offer to bring you a replacement wheel with tire on it so you can get underway. You'll have to go back later for your wheel and replaced tire, of course. But, your car doesn't usually need to be towed away.
Yep - bought a model Y in December when they were giving the $7500 discount up front and free super charging for 10,000 miles - I am now 13,000 miles in this wonderful machine and have paid almost $0 to charge it (cuz I also have solar panels) - handling and performance; definitely the hands down best automobile that I have ever driven - I use the advanced autopilot on the highway a lot , it is not perfect but pretty darn close
This leads me to add a note about fuel costs. I just turned 9300 miles on my Y, including 2300 using supercharges (which I had to pay for, as the free deal is no longer available" and my total cost has been $483.
Great, highly comprehensive discussion of much of what a BEV buyer can expect from their first EV, especially for a Tesla. Thanks for taking the time to prepare and post this.
I’m not retired. Full time employment. I drive about 22,000 miles a year. I live in California. About a year ago I put solar on my roof and bought a Tesla model 3. The amount of money I save every month not having an electric bill at home and not paying for gasoline and maintenance of a gas car is significant. On average as of right now I save about $700 a month. As gas and electricity prices go up those savings will rise significantly. People make fun of me and call me stupid but I have no idea why. I guess they like going to gas stations and spending $100 to fill their tanks. Seeing all these comments in here filled with people that also did what I did makes me feel better about my decisions. Enjoy your Tesla guys. Side note, my friend at work has a 2018 model 3 with 120,000 miles, never had a problem. Batteries have lost about 10% of their efficiency but that’s not bad. Car is still going strong. No maintenance in 120,000 miles. Amazing.
Excellent breakdown of Tesla Model Y/3 owner experience. I’m probably 3-5 years away from retirement and we bought our Y two years ago with the idea that someday we’d have the time for road trips/traveling. Turns out that we found the time to do some pretty amazing road trips ahead of schedule! And these cars - both the Y and the 3 are awesome road trippers and dog mode - even camp mode are incredible features we use all the time. Good electric cars with an excellent charging network makes it possible to transition from ICE cars to fully electric. I should share this video with my brother. He’s certainly been intrigued with our purchase.
I really appreciated this review, because it was very thorough without a lot a bunch of unnecessary nonsense. I liked the comments from seniors too. I’m 69 and my wife and I have been retired for several years. I follow EV’s through reviews all the time, but have not yet purchased one. It’s my dream to install solar panels on our house, buy an EV and run it in sunshine! And I see from comments that other seniors haven’t just dreamed about it, but are doing it. Right now, we have his and hers 2022 Toyota Priuses. I’ve been a Toyota economy car man for years. One of our daughters is still driving a 2009 Corolla that we bought new for $15K out the door! The Priuses were about $30K OTD. If Toyota had been faster with EV development, I probably would have bought one. I’ve worried about reliability for Teslas, don’t like the computer screen for everything, don’t like the looks of the model Y, don’t like having no spare and no back wiper. But sooner or later, I may very well replace one of our Toyotas with a Tesla,depending on how long we live.
I hear you. Not for everyone. Perhaps take one for a test drive to check it out?
I have a Model Y and solar panels with a Powerwall battery. So not only do I have power for the house and car, I have a backup if we lose power. It is a pretty compelling investment if you add in the battery backup and don't need a generator. Whole house generators cost in excess of $10K after installation. While a backup battery cannot run everything, it is enough to keep the essentials running.
Got a model y long range a few months back. Love it. I’m able to charge in the garage.
I've been driving a Model Y LR for about 2 years. It was/is my mid-life crisis car (which my wife approved). It is by far the nicest car I have ever owned because I have always bought used A-B cars with a history of low maintenance like Corollas. The problem is that utilitarian cars aren't fun to drive. We test drove several cars at the Tesla showroom near us before making a decision. Like you, the performance variant made my wife car sick but she was fine with the Long Range in chill mode. It is also more expensive to change the tires on the Performance model since they are staggered.
Adjusting to an EV takes a bit of time and rewiring how you think about fueling your vehicle - but once adjusted - most vow never to go back. For example, one-pedal driving/regen braking is so nice. Hold at stops is so nice. Instant torque is so nice. Waking up everyday with a nearly full "tank" is so nice. Buying online without dealership nonsense is so nice. Sentry mode/built-in 4-camera dashcam is so nice. Having access to a very reliable and well covered charging network is very nice.
I've convinced a number of once anti-EV folks by simply letting them borrow the car and try it for themselves. Even if they still prefer their gas cars, most aren't dogmatic haters anymore. Are there still gotchas with EVs and Teslas? Sure. If I needed a vehicle to tow a camper across the country - EV's aren't there yet. But for me, I'd rather drive my Model Y most of the time and rent another vehicle when I needed other capabilities. Also, it might not be the best fit for those living in an apartment or condo. Although I know of folks that managed to get an EVSE installed in their parking garage at their condo.
Autopilot is great for long trips but it is an optional feature like a really nice cruise control. It isn't perfect. I often find myself not using it unless on long trips. I totally agree that FSD isn't ready for prime time and it will likely take years until it is and perhaps a decade (or more) until it is fully hands free. Everyone is working on this feature but it is a hard computer science problem. Range, especially with Tesla, are a bit optimistic because of the methodology used for EPA rating, just deduct about 10% for a more realistic average range. It also depends on many factors, just like a gas car - speed being one of the biggest. Tesla's navigation system is generally conservative when planning charging stops, so if you get stuck - that means you ignored its recommended charging stops for some reason.
When I lived in Florida, I did have to very occasionally reboot the car if it had been sitting out in the extreme heat all day. I haven't had to reboot since I moved to Colorado. And, yes, the Model Y can climb mountains - easily. Scaled Mt Evens, in June, in a snowstorm, no issues and never used my breaks on the way down (regen breaking FTW).
Just my experience of using a Tesla for 2 years, driving about 25,000 miles in that time, including several long road trips. The 7-seat option faces forward like the rest of the seats but they are really small "jump seats" only suitable for kids and small adults (about 5").
I am a car guy, I love gears and all that . I bought a Model Y, I'll never go back to a gas car. I never go to a supercharger unless I'm going cross country.
We are retired and bought a 2022 Model Y LR. We have Tesla solar panels and batteries and the home charger. I will never buy anything else, it’s that good we love it. We travel frequently and charge at super chargers along our way with no problem. I highly recommend Tesla. Thanks for your videos
i got my Y for 39,900 and 2750 rebate from Cali. So far I have saved 7500 in Cali gas costs. The Y has been the best car I have ever owned and its so much fun to drive. Half my neighborhood drives Tesla since I purchased mine in 21!
Jeff - no mention of its incredible safety record!
Thank you for your honest opinion about Model Y. I am a retiree. I drove Model 3 and Y for a week in each model. What computers do is mind-blowing innovation and very convenient; no other vehicles cannot. It is very roomier inside, and I admit it is an adorable, stylish design. What I disliked, compared to other EVs I test-drove, was ride quality, cabin noise, and built quality. The ride reminded me of a Golf-Curt in which I felt stiffness and every bump. I hear noise from tires, wind, and outside surroundings. And built quality looks discounted and felt low grade. Other than that, the price is affordable and attractive. If a monitor size is more significant, 20 or 24 inches, I would lease Model Y for 3 years. Why not😉
Since 1993 I've only purchased low mileage Toyotas, my last one is my 2013 Prius. I've owned it for 6.5 years and have saved well over $5,000 in Gas, so as of this date, my Prius only cost me $11,000 in 2016...with only the present 92,000 miles on it, it's got YEARS to go. The only maintenance cost in 6.5 years has been a total break job - that's the ONLY expense. I LOVE it!!!
I guess your not changing your oil filter and oil, air filter… it won’t last long…
THOSE along with tires, wiper blades etc are all basic costs...everyone has to pay. I'm talking about engine timing belts etc. also because of regen. braking brakes last MUCH longer on hybrids.@@skepticalmechanic
I have a 2011 Prius with 220K miles and it hasn't needed a brake job yet. Sounds like a dealer said, you have X miles, therefore you need a brake job. Most dealer mechanics don't drive hybrids.
I got 110,000 miles before my 2013 prius brakes had to be done. Prius’ are super cheap to own. 55 miles to the gallon. I love it.
@@reebeeable Careful quoting that mileage if your taking from the car's computer. We're on our third Prius an I log all fuel-ups, and when I do the math (miles drive/gallons purchased) the car consistently overestimated the actual mileage by 5-6%. If it's reporting 55mpg, my experience tells me it's more likely 52mpg; still great, it's still padding the resume.
I really enjoyed this...excellent review of the Tesla and its practical and financial reality. I’m an engineer who’s designed for the legacy car manufacturers as well as DOE/DOD and honestly wasn’t expecting much with “money pit” in the title but honestly I enjoyed this and really appreciate your thorough and balanced presentation. There’s not a word I would disagree with (rare for me LOL). One thing you alluded to but didn’t quite emphasize (or feel free to outright claim) is that the likely service life of these cars (3 and Y) is between 2x and 3x that Camry mentioned a few times. Even early 3s in fleet service routinely exceeded half a million million miles including in most cases, their batteries. Battery tech has of course improved dramatically since those early days and continues to do so. Tesla techs I’ve spoken to are seeing brake pads lasting more than 150,000 miles as well due to one pedal driving. There’s really no upper bound on motor life if the bearings are designed properly (witness industrial turbine generators). There’s no downside at all that I’m aware of except that it can be expensive to get into an accident with them in these early years. LOL. That will change once Tesla is done building out capacity to effectively supply the world with vehicles. Right now every part is a premium commodity that should ideally be routed to building a new car not repairing a damaged one. One other minor issue to point out is that insurance is still a bit pricey, although better with Connect (Costco). That will change as Tesla expands its insurance arm cross-country over the next few years. Anyway, thanks for an excellent presentation...well done!!
This video was extremely detailed and thorough. Thank you...I found it interesting even though I had not originally thought I would.
Thank you! This was probably the best description / review of the Tesla I have seen - and I have seen a lot.
Thanks v much
Good analysis, what i find interesting is practically nobody is talking about the upcoming point of sale credit starting January 1. No issues utilizing a tax credit, its direct cash at the point of sale in USA, 7500 bucks for new, 4000 for used. These things are going to start flying out of the factories very soon, and the cost of ownership equation will be awesome, especially for the lower priced models.
Troubling that a CPA doesn't know the difference between a Rebate and a tax credit.
Ok, great detailed checklist, thanks Mr. H. Schmidt. One negative you left out is that in Autopilot, you have to be aware of what is scarily called "Phantom Braking". It's like there's a mean invisible passenger in your car who may at any moment decide to slam on the brakes. Now this is normally thought of as a safety feature - you wouldn't want to hit that fallen boulder on the road, right? But when driving down a clear open freeway on a nice day that ghost sitting next to you may decide that something it sees or maybe hallucinates in front on the road is a real object and it hits the brakes bringing you down from 70MPH to 20! The fellow behind you may be alert enough to hit the brakes too but maybe not and then whoops, accident! So these days, I sometimes use Autopilot with my foot poised to nudge the accelerator, reminding the ghost that it was just dreaming and there is nothing on the road ahead. But mostly I just don't use AP and its Friendly Ghost.
This video was really well done and helpful! Thanks.
As always your explanations are top notch. The best I’ve heard about a Tesla or EV in general. Loved 🥰 that you went the extra mile and crawled on the ground to measure that clearance 😂.
I really appreciate your perspective and experiences. I drove a EV for a few years and moved back to a Gas SUV because at the time it was too new in the evolution of EVs, but after this honest review I believe I will look into a Tesla for our secoend car as we plan its replacement in a couple fo years. Thanks!
Congrats on getting a Y.
We are on our 4th Tesla. I drive Xs, and my wife drives a 3. I like to cruise along upright; she likes to recline and zip in and out.
When we replaced the first X I test drove the Y and liked it. But the higher noise level and harsher rise since it does not have air suspension, felt like a step down. So, I went with another X.
But as we move into retirement, I may replace the X with a Y!
Is the softer newer version suspension on MY's standard or an upgrade?
Standard. They offer only one version of the suspension. @@donaldparry5157
Thanks for sharing, I have been researching buying one and you knew several things about these cars that I was not aware of, also I wasn't considering the Y but yours looks very nice in black.
Thanks for this informative Tesla review - the most complete and accurate I’ve every found.
I am approaching retirement and bought my Model X in 2020. I love the features and some of the over the air updates that are released from time to time. I bought full self driving and it is the one thing I think was a waste of money. Autopilot is enough for me. Using full self driving on city streets is scary. Like sitting in the passenger seat while teaching your 15 year old how to drive. On the freeway it is great, but auto lane changes are tough in rush hour traffic so I don't use it. When I bought mine I received free supercharging as long as I own the car.
Things I like: one pedal driving (great in rush hour traffic), autopilot, acceleration, charge at home (I have solar), can watch streaming media on the screen while charging, dog mode, never need to take key fob out of pocket, tap the brake and driver door closes, no oil changes, if not for free supercharging I would charge at home which is nice to wake up to charged battery
Things I don't like: phantom braking, had to have warranty work and other repairs (never happened with my Tacoma), tires wear out and are expensive, my model year didn't have much for interior storage areas, the sun visors are pretty worthless, worrying about the state of charge when fly back and left your car at airport. I had left
We have only done a few road trips, and stopping is ok and fairly quick. Usually good to stretch the legs go get something to eat. Lately, and in some cities such as Las Vegas and Sacramento (weekends) the superchargers where I need them have a wait time. To find one available could mean driving across town, with no guarantee that they will not also have a wait by the time you get there. I hope they build a lot more and not just near the interstates.
When we retire we plan to road trip all over the country with the free supercharging. Expensive tires or repair costs are more than made up for by the free supercharging so far. Autopilot will be nice for the long drives too. Stopping to charge will sometimes be a pain, but we are used to it.
Yep regenerative braking is real. Drive up a mountain and you expend energy, but driving back down you recoup most of it back without braking. With an ICE vehicle you expend energy driving both up and down, plus you put wear on the brakes. I also like the fact I can watch a movie or TH-cam while my wife is shopping.
What about a HYBRID, I got a Lexus ES 300 H 2023 and it’s range is 500 miles combined. No comparison regarding interior LEXUS far nicer. Also my auto agent said car insurance is higher. Battery warranty is 10 years 150,000 miles
One more thing MPG IS 45-50 miles
Just came back from a 1000 mile road trip, on the supercharger stops the car was ALWAYS ready to go before I was, potty breaks, food... Loved the acceleration and the FSD made the trip enjoyable on the interstate.
Great video and we LOVE our Model Y! Inexpensive to operate, FUN to drive, and super safe, safest car ever tested!
Thanks for a great review on owning a Tesla in retirement. I recently retired and ordered a Model 3 Highland. Can't wait.
Your Model Y will be safer in a front side impact due to the front giga castings - should be more repairable. A low centre of gravity means these cars are less likely to roll-over in an accident. Great as roll-overs often result in head injuries.
The Model Y is the safest car ever tested by NTHSA. They have never flipped any Tesla during testing. Also Teslas have low polar inertia, due to battery placement, meaning even safer in a collision.
Your videos are starting to get more funny and I like it. You have found that magic spot between entertaining and good solid helpful information. Thanks Geoffrey. Your amazing. We are thinking about a Model 3 next year where we should have the ability and income to write off that $7500 if it is still available.
Look at the comments above. I hope you change your mind.
I just read, or at least skimmed through, all the comments. Quite a polarizing topic from many viewers. ( Let me add, everyone is entitled to their own opinion ) It seems that Holy Schmidt took a little risk with this subject, however to me, I believe his track record shows pretty good solid advice. @@markcummings6856 😀
Outstanding information! Thank you so much for your thoughts.
Beautiful work in making this video 👌👌👌
And a very unbiased video about Tesla's.
You got my thumbs up for sure 👍🏻👍🏻👍🏻
Dirty copper mining leaving behind heavy metals major birth defects thyroid cancer as is lithium mining ore being boiled in acid radioactive to get lithium
Also, it is really a tough sell for someone who lives in a townhouse or apartment where there isn’t charging from your home.
I hear you
BEV is not right for everyone. I would not get one of home charging is not practical. Look into a phev. We have a Model Y & a phev, I get 3.2 mi/kwh while the Y get 4.1. Last time I fill the gas tank was 3 months ago.
I find after retirement I drive a lot less and I can charge once a week while I am grocery shopping. My VW has free 30 minute charging for 3 years, so it is cheaper to charge at the store than the $40 per month to charge if I plug in at home. It just means I have to finish shopping in 30 minutes which isn’t a problem for me
True that EVs are not for everyone. You can manage though, my wife and I have a Model 3 and Y. We live in a house with double garage so charging not a problem. My daughter has a standard range Model 3 (smaller battery so less range) she lives in an apartment in a large city and she loves her car and charging at public chargers or Tesla Superchargers is not a problem.
For people like you we have public transport in Europe and the US has many superchargers all over town. That is no excuse to stop polluting your environment.
One small correction, in the 7 passenger option those 2 extra seats face forward not backward. Excellent review.
And are only good for children/ small adults
Model S had rear-facing third row seats as an option
@lemongavine yes, but he's talking about Model Y which has 2 small front facing rear seats
I randomly came across this video. I own a 2022 Tesla Model Y Performance and this is a spot on example and information. Very well done.
what a wonderfully calm and clear demeanor.
I think you'll find that it is extremely easy to total any modern vehicle. A not all that large branch fell on the roof of my truck, it wasn't a total, but it was ~$12,000 just for that.
Excellent video, i'm on my 7th Tesla Model S and currently drive a 2023 Plaid.
Wow, great presentation! Ok, so in the long run cheaper than a Camry when factoring in fuel savings!
Any less costlier manufacture you recommend for next best deal??
Thanks for your efforts in sharing this information.
Excellent review. Showed pros and cons. Thanks for this review.
You bet
Autopilot is great on freeways as long as the white lines are present. In most night driving situations, the car sees better than I do. On two-lane country roads it's better to just use adaptive cruise in order to choose the best path on a sometimes questionable road surface. Presently FSD and Autopilot don't avoid potholes. As far as wheels are concerned, if efficiency and comfort are important to you, smaller wheels and larger tires are the way to go. Aero wheels are not as good looking as other wheels, but they will increase your range. Thanks for such a comprehensive and well-thought-out presentation.
I don’t usually post to your website but it’s interesting that you came to the same conclusions I did when I decided to purchase my Model 3. For your viewers, they wish to check with their electric company and join the time of use programs if available. The cost of my electricity to charge my tesla has dropped from $.14 per kilowatt hour to eight cents per kilowatt hour if I select to charge it between the hours of 10 PM and 8 AM. I normally charge these hours. Anyway, additionally, the time of use has restrictions in the highest electricity usage time frames that, if you can avoid them, allows you to have cheap electricity, when others are paying upwards of $.30 or more per kilowatt hour. I just received my power bill. I was expecting it to be much higher since I purchased my Tesla a little over a month ago. It was actually lower. Just an FYI.
Great Tesla review... That most financial channels NEVER would have thought of. Well Done!
Great reviews and comparisons with your experience with the Model S and why a Model Y. I’m new to your channel and thank you.
Excellent, comprehensive review. A small point, in the 7-seater the seats do actually face forwards but they are only suitable for elementary school aged kids, or short trips. Thank you.
Exactly the correction I was going to add! Couldn’t have said it better myself!
Completely agree with your choice, I have been driving EVs since 2017 and there is no comparison to the convenience and value of home charging. I charge daily off my home solar. There is no way to make your own gas and you are totally dependent upon whatever whim some foreign dictator decides you will pay for gas as its price is driven by global market forces. Having just retired my solar investment is paying monthly dividends in the Texas heat and gas costs savings of around $400.00 per month. I own a 2023 Model X I paid off prior to retirement.
We love solar, batteries, and having EVs. A great combination for always having power and transportation and paying very little for electricity.
I have owned my MODEL X since 2016. Best car I have ever owned. I have never had it serviced in almost 8 years and 80k miles. I have never owned a car this long and have no plans of selling it either. Ever. So damn good.
I don’t drive my BMW X5 M, AUDI, Mercedes, Maserati or Aston Martin. The over the jar updates made my X faster. It’s a better car today than when I bought it.
Have done the same in MA with the exact same results and thoughts you have. 🎯👍😎
At 59 years old, after driving pick ups all my life, I bought a 2018 DMM3 brand new and then bought a new DMLRY in May 2022 and love it. The larger model Y is the way to go for older, larger, or people setting in a very low position. Love EV'S and will NEVER go back to ICE vehicles.
Counter-point to the "totaling" easier then other cars' I concede that Teslas appear to "total" in collisions that might not total other cars. They are, however, amongst the very safest cars to be in as an occupant when involved in a collision. I had a Model 3 for just under 5 years with 79k miles driven that was involved in an accident (inexperienced driver put it into a curb, a wood fence, an embankment, and tree, and destroyed the front end and all the wheels; the passenger cabin was perfect (other than the blown airbags), and most importantly, the three in the car walked away without so much as a scratch. First responders were pretty surprised at the damage sustained and caused by the car juxtaposed with zero injuries. I now have a new Model 3. I'll "trade" greater property damage for odds of better health outcomes every time. That heavy battery also makes rolling over nearly impossible and that's a big deal.
How about comparing it to a hybrid, like a Camry or Avalon? I personally think they're the best alternative.
I've been driving a hybrid for 8 years.. it's ok but am ready for an EV.. I'M ready to be free from fossil fuel ⛽️
Youngest bought a Corolla hybrid just as Covid started and it was ~23500 all in. A bit more now, but not much. He gets 50 to 53 mpg. Seems like the best idea until the EV concept gets worked out. Government subsidies have to go away at some point and the infrastructure just isn't there to support many more EVs.
You don't mention insurance cost differences. That could be a big ongoing cost factor.
I just got a model 3 as
My retirement gift!
Congrats!! Much luck!
Nice!!! Congrats on the car and the retirement.
No need to change the muffler cracked me up a bit. Lots of good info. Thanks for the time and work.
This was a great information. I’m looking to buy a Tesla Y in the spring, and will be retiring in a few years after that. The Tesla will help me keep cost low and to better control my budget during retirement.
Where can you find a Camry for $38,600? With “dealer adjustment” or “dealer admins” of between $4000 and &12,000 here in FL we are between $42k and north of $50k.
I have got a Y and the lane center following is kind of nervous when you are in narrow lanes of next to semi's , or if the guy in the other lane is drifting. Getting enough of the controls on the lower control bar is something that is lacking also the stock front passenger bench is short for people over 5' 10" (not thigh support) . Lots of cars come without spare tires now . Car in general is brilliant.
It may be different because i have FSD, but after an update several months ago, the car will shift away from semis and other large vehicles (but stay in its lane). It will also exit its lane (if safe to do so) if it detects a collision is imminent.
The latest software release moves my car off center away from large vehicles when passing or being passed. It's very consistent and very noticible.
great points made that I never thought of
Thank you
I'll admit I was one of those anti-EV people, however would never flip the bird to someone. I just went to Tesla's site and could get one (Model 3) for under 30K, before taxes and destination. That is very compelling.
Good for you Geoff. I love the concept of an EV especially for the majority of my drives, short distances and could probably go a week without charging. Keep up the good work, love the videos.
Dirty ev I see the so-called green movement in delusiondirtycopper mining leaving a toxic stew in the streams and rivers down stream look at Ontario 50 years it took to start recovering but toxic heavy metals left behind like lithium ore that has to be boiled in a acidic radioactive stew
I guess you know, but you should charge in every night to about 80 percent. Takes about 15 seconds to plug it in.
Ok. After watching the entire video I have to admit - I subscribed. I think you are concise, neutral in the for/against stuff which is great, and you are eloquent in how you speak. No fancy frills. Instead you give the brass tacks version. Also, you don't try to talk over most people's head and instead give a down to earth version. I also like that you are able to take what could be a very hard to understand subject and give good reasons for what you are saying. I can't wait to see your next video.
Thamks for a very balanced analysis.
This is the best review of Tesla or any EV that I have come across. Being a Corvette enthusiast, I never thought I would think about an EV. I’m getting close to retirement…maybe a Hummer EV Pickup in my future? 😉
As a retired Model Y owner, it is a good investment. Test drive it, but I would suggest the standard wheels because the ride is so much smoother. No gas worries anymore and I don't drive far or put many miles on per year, so I try to keep it near 50% charged most of the time because that is best for the battery. I have taken it on trips and it will estimate where you may need to recharge if your map destination input is farther than it will be able to go on the charge. Also, rare to use the brakes and a need of a brake job because of the regenerative braking, but rotate tires in a timely manner because that is where your expenses will be because of the weight of the vehicle.
You had the money to buy a Tesla but you had “gas worries?”. 😂 And it was worth overpaying for small station wagon with range worries? 🤷🏻♂️
@@edhcb9359 No range worries at all because the car will always estimate how far you can go and map you to a Supercharger and I am not beholden to OPEC pricing.
@@bonwatcher LOL! One more thing to keep charged? No thanks! Plus they aren’t great cars. We have them as a choice in our company provided cars and barely anyone picks them over the other choice(Toyota Highlander).
@@edhcb9359As opposed to one more thing to keep fueled?
@@HablaCarnage63 Of you wake up in the morning and realize you forgot to charge your car last night then you are screwed. If you wake up and realize you forgot to get gas then you take a minute and get gas. Not at all the same thing.
Teslas paint and build quality is much improved and equal or better than others. Zero maintenance too.
Purchased mine 2 years ago in anticipation of getting it paid off before retirement. I’ve loved every minute of owning my Model Y LR!
I absolutely love my 2022 Model Y LR! I have the white interior and the aftermarket add-ons you can get allow you to customize your Tesla to your heart's content. I didn't like the fact that there was no instrument cluster behind the steering wheel, so I bought a display and installed it. Works great. I also installed a white leather yoke steering wheel which gives me better visibility through the windshield and a more comfortable hand position. Also, you should have mentioned that if you have solar panels, the operating cost is even less! I'll never go back to an ICE vehicle!
I retired in 2021 and my wife had a 2010 Honda CRV. The car never got great gas mileage from the time we got the car new in 2010 (about 25 mpg around town). It was costing us about $45 dollars to fill up every week or so depending on how much she drove the car. We bought the Tesla Model Y LR, AWD in June 2023 and it has been great. It cost me $174 dollars so far to charge at home and we have traveled 4,607 miles. If we had bought gas it would have cost us about $650 dollars to go that far. Buying a car at the Tesla store was the best car buying experience I have had. They don’t pressure you and they will get you a test drive without any hassle whatsoever. By the time it is all said and done I will have about $42 K in the car after my trade in and the $7,500 tax credit. Wife was looking at a Toyota Highland that was $46 K and only averaged about 35 mpg. Am sold on the car and we are very happy with our purchase.
Buying a Tesla is worth it just for the buying experience alone! I absolutely hate dealing with car salesmen!
We purchased one of the first model 3's five years ago. we have changed two front windshields and tires. we now have 130,ooo. thousand miles. still very happy. we charge at night and during the day with our solar if we are home. we took off one summer with no destination, we drove threw 5 states in 6 days, it was a great trip. thanks Mr. Schmidt we watch all your shows. Dave and Shelly
You haven't needed to change the 12v battery?
Thank you, pretty compelling episode! Question: if the battery is good for 300K miles, would you consider buying a pre-owned Tesla with 150K miles on it? Any projected resale value, or is it too early to say?
I think the estimates are generally true, but I’ve heard of people starting to have issues at 200k in some instances. What might be a good trade would be to get the car at a reduced price and swap out the battery (10k?).
As a car enthusiast that watches a lot of car review videos, this was great! All good points. For future buyers, be on the lookout for lightly used Teslas with FSD already purchased, sometimes you can find a hot deal from an unsuspecting dealer who doesn't know what they have. I found my 2-month-old Tesla with under 1k miles for significantly under MSRP, AND FSD included. FSD is amazing on the highway compared to the basic Autopilot and will be really interesting when the new Version 12 releases.
In my best Napolean Dynamite voice, “Luuuckyyy!”.
Bought a Ford MachE 1 year ago and have been enjoying every minute with it. I joy to drive and I love laughing at the rising gas prices. Oh yeah, also no oil changes, belts, timers, etc costs. Highly recommend going EV.
I think you should compare the Model Y with highlander or the rad 4 and the Model 3 with the Camry?
I absolutely love this! I heard there was no dealership to worry about and its true. Took a test drive of a base 3 model and WOW. This video showed me so many things I didn't know. Ford lost me after 40 years of driving them, and my Tesla arrives in 2 weeks! Thanks for sending me that way!
I have to agree with many of the comments; this was a very well done explanation of the Tesla experience and what to expect. You will likely convert more than a few people and should post your referral code for those that you've swayed; I think they're still giving buyers $500 off when ordering with a referral code; they might as well use yours.
Geoff, you're such a closet fan boiee! 🤣 It's ok, they're great cars IMHO. I leased a M3 almost 4 years ago (range anxiety = dumb decision). Had it 3.5 years and the only maintenance in all that time was adding windshield washer fluid and air to the tires. One perk you didn't mention was the buying experience. NO DEALER! Buy it online in minutes with no hassle or haggle. Genius. I've since purchased a MY and another M3 and intend on them being my last cars period. We took the MY on a road trip this last week. Absolutely no trouble finding superchargers on our route and bonus - there were free destination chargers at our hotel so we could charge up overnight. Love virtually everything about these cars including the software that is totally integrated. Nice video! Oh, and clearly I'm a fellow fan boiee...🤣
My son has a Y with the 7-seat option. The seats are best for 2 kids and they face forward not backwards. When not in use they fold flat.
Well done, thank you.
How about the differences in buying experience? I am seriously sick and tired of the finance manager trying to sell me the extended warranty and security system. Please just stop it already! I bet this doesn't happen buying direct to Tesla?
Talk about insurance comparison, resale value, and accelerated tire wear.
And Annual/Semi-Annual State registration fees being typically higher for some states... Non-home KWatt charging costs comparisons...
Ok thanks...great accounting of the costs- Thanks
You bet.
I’m a Senior and after a short adjustment period learned to love the Model Y….easy to buy and great to drive….just wished there had been more of a tutorial on voice commands etc. at time of purchase…saves money on gas costs for sure.
My Model S is now 10 year old. My annual costs are literally insurance/registration (same as any car), Fuel (electricity) at about 25% the cost of gasoline - that is every 100 miles is about $4.00 of electricity. And maintenance...which for the last few years has been only tires and wiper blades.
On an ongoing basis, it would be hard to think of anything costing less.
How many miles on model S, and has the insurance cost come down as car ages? Doesn't this car also come with free supercharging for life?
@@Trust_but_Verify Oddly enough, my brand new 2023 Model 3 lowered my insurance $50/6 months as compared with the 2018 Model 3 it replaced; no idea why.
@@Trust_but_Verify about 90k miles, insurance cost is about the same (roughly $130/month full coverage) as I imagine that's more of a function of potential repair cost or liability cost should I damage someone else's vehicle or property, and yes, I have free supercharging for life, but I only take maybe 1-2 long trips in the car a year.
Since I now work from home mostly, my annual miles are now pretty low (about 6-8k miles a year).
@@andrewdiamond2697 Your car would worth more to an Uber driver!
@@Trust_but_Verify Maybe, but I made the last payment nearly 4 years ago...so...
I think I'd still choose a hybrid over an all electric for the next 5-10 years. Looking at the Car and Driver ratings I'd have to consider the Cadillac Lyriq for overall styling and comfort. I still associate most Teslas with the under 45 age group.
Good review! Did you look at other electric cars like Volkswagen or BMW? If so can you compare and say why Tesla? Thanks for your excellent editing. Good job.
Hi Tammie, thanks for the question. I didn’t look at the others, and there are a lot of great options out there now that Tesla has opened up its network to all EVs. My thinking on this (aside from being a little PTSD around losing my first Tesla so quickly) was that Tesla has had 8 years or so to work out the kinks. The good news is that since Tesla went first the others can learn from Tesla’s successes and failures quickly. I’d test drive them and check the warranties - especially around the battery. This is where Tesla really shines
Excellent summary. I do have two things to mention.
1. To restart the car, you don’t need to hold the brakes. Holding the he two steering wheel buttons are enough
2. The rear seats in the Model Y are tiny but they are front facing. Only the older Model S had rear facing seats
Thanks for a balanced and fair review of the Tesla Y, MSM funded by ICE manufactures seem to have a difficult time saying anything good about Tesla. I owned a Model 3 for 4 years and my initial expernce was like going from a Flip phone to an iPhone. Just traded in my Model 3 for a Model Y with HW 4, since they let me transfer my FSD I paid $5K for on my Model 3 to the Model Y. it made for a great buy. My reaction to the FSD is the opposite of yours, I thinks it makes the drive safer. PS. Thanks for pointing out "Dog Mode". highly under.rated feature.