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The true cost of owning a vehicle goes way beyond just the initial purchase price. You have to consider a number of other costs to get the real picture. For example, in our comparison today, the Model 3 purchase price is quite a bit higher than the Prius, but with all things considered and the cost savings associated with electric vehicles, the Model 3 True cost of ownership may actually surprise you. But, are the cost savings enough to make up the initial cost difference? Which vehicle is cheaper to drive per mile over 5 years?
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*** All video and pictures are used with permission or in accordance with the copyright owner’s stated policies and use allowance, or applicable fair use laws. ***
Image & Video Clip Sources:
1. Thumbnail Model 3 image & other Tesla images and video clips used in the video Courtesy of Tesla, Inc. (where noted in video).
2. Thumbnail Prius image & other Prius images and/or video clips used in the video courtesy of Toyota (where noted in video).
Data Sources:
https://arstechnica.com/cars/2023/01/heres-what-you-need-to-know-about-the-new-ev-tax-credit-for-2023/
https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after
https://gasprices.aaa.com/
https://www.saveonenergy.com/electricity-rates/
https://www.caranddriver.com/tesla/model-3-2018
https://www.bankrate.com/loans/loan-calculator/
https://www.edmunds.com/tco.html
https://www.caranddriver.com/toyota/prius-2018
NOTE: The content found in this video should NOT be regarded as financial advice. I am not a financial advisor, and this is NOT in any way a recommendation or offer to buy or sell securities. 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. As of the recording of this video, I am NOT invested in Tesla stock or securities, nor any other company mentioned in this video.
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