Hubby wants to buy a tesla. Anyone have an electronic car? pros and cons?
We current spend $250 in gas per month for his commute, and his company has free chargers. That would be a big savings for us! It looks like we can get a charger for home for under $700. So it would be paying for itself in a few months.
So, do you love or hate your electronic car?
i of course will be continuing to drive my gas guzzling Honda minivan, and plan on doing so for the next 10 years. I only have 25k miles on it. But it looks like they are building FREE charger stations across America, so he could take the car on trips (though hed have to go without the rest of us, since we wouldn't all fit ;-0)
For every 5k in gas, you'll spend about 1200 in electricity. They guarantee resale, btw. As to charging, you get something like 300 miles before you need a charge, and we will not be taking this car on the road.
Haven't looked into safety. Hubby is just impressed by the founder, and we are big fans of green stuff. His car right now, though, does get 32 miles to the gallon on the highway. It's an efficient car.
I read it was 60k, but I think Illinois gives a 11k credit. Somewhat expensive, yes, but I paid 30k for a used minivan! Cars are expensive, and I guess the tesla is built to last and last and last. The idea is you won't be buying another car. I'm intrigued, not sold, but hubby has me interested enough to investigate this further. At this point, he will be waiting a few years. There is nothing wrong with his current car. I think he's afraid he'll be driving his little civic for the next 5 years and wants to trade up, by appealing to my environmental sense.
As to free, etc. Let's talk about all the money to the farmers and big business, then we'll talk about how much we spend on the little man and the environment,
I have a very money-savvy friend with a finance manager for a husband that researched electric cars. They liked the looks of the Tesla but determined that it was seriously overpriced. They went with a Nissan Leaf. She just told me that it has hit the 5000 mile mark and the cost has been $50 in electricity.
Added: They also live in the Chicago area.
I'm going to guess that not many people are willing to pay $80-100K for a fully electric car.
Here's a review on KBB:
http://www.kbb.com/tesla/model-s/2014-tesla-model-s/base-...
TF- these are extremely safe cars!
700 is only the cost of the charger. How much will that increase your electric bill every month? And when you take those trips and charge in new places, how long will he have to wait at each stop to charge?
ETA: So I'm doing the math - I spend about $140 on gas per month in my gas guzzling Odyssey, or $1680 per year. So in a Tesla, I'd spend approximately $400 per year, saving me about $1200 per year (about three of my current car payments). Over ten years, I'd save approximately $12,000. But Teslas are about $100,000 to purchase, and given their performance status and desirability for theft, I'm sure the insurance will cost more. So if I were to give up my $35,000 honda to purchase a $100,000 car that saves me only $1,200, it would take me about, I'm estimating, at least 30 years to see a return on that investment. What you save in gas can't possibly be worth what you would spend in car payments and insurance, not to mention that you'd be trading in a 5 minute pit stop at the gas station for an hour and 12 minute recharging time. I can't for the life of me see the economic sense of that at this stage of the game. I'm all for going green, but this is illogical, and unless you're willing to also insist on solar panels, rain barrels, composting, front yard gardening, and all the other green things, I can't see why this one. I appreciate that he admires the founder. A lot of men admire Hugh Heffner for the empire he created. Wouldn't really want my husband emulating him, though...
You are still consuming energy....the cars are nice. Especially if you have $90K to spend on it...that's ONE EXPENSIVE CAR!!! The Tesla, unlike other electric cars, does have some get up and go...they can reach 60 mph in about 5 seconds...
Depending up on the model, they can go 75 to 250 miles on one charge. They are EXPENSIVE...I think the battery is $3K to replace...maybe more in a Tesla.
We the People end up subsidizing ownership with tax credits and these charging stations. And there aren't that many charging stations...and it's not like a gas station, you have leave the car alone for HOURS...usually 12...to recharge the battery.
I wouldn't buy one. But that's me.
...would he be financing this Tesla?
If so, that could affect your credit rating and the interest rate for your new home. That could end up costing you tens of thousands more in interest costs if you can't get the lowest rate possible on your home.
At Oakbrook mall, my husband looked at them. They look nice but this company has a long ways to go before it's worth it. BTW, June 1st, electric rates jumped 38%. The batteries are thousands. There are not nearly enough charging stations and you will have to sit hours to wait for a full charge. If your husband does the research, like mine has, he'd probably think its not the right time to buy this car.
FREE, lol. Nothing is free.
I think it's a great idea, especially if there are charging stations where your husband works. I've been thinking about one for my next car (not a Tesla, specifically, but some kind of electric or gas/electric hybrid), because the parking garage I use has free charging stations. I won't even have to pay for the electricity. And my commute is only about 20 miles round trip.
ETA: Yes, I agree with others that the electricity isn't free. But, right now now the parking garage is paying for it, and thus I'm basically paying for it through my parking fees and I can't use it. So, I may as well get a car that take advantage of it.
I'm with Queen of the Castle...who is paying for this...if you can afford a $75K or more car, it will affect your home purchase, unless you aren't serious about finding a new home.
$250 a month for gas? What does he have, a truck?
NOTHING is "Free". Get over that notion. You're paying for it and so is everyone else.
You can't just pop in and charge the car either. It has to sit for 12 hours to charge.
Our neighbor has a Hybrid of some sort, his battery died and it cost him over $5,000 for the battery and the man-hours to put it back in the car, disposal of the old one (that was about $500) and other incidentals. I personally don't think it's worth it. As Wild Woman said, you are still consuming electricity.
TF/Plano, Tesla cars have been highly rated for safety. They are expensive. The top of the line model "S" sells for $90K. Here in Georgia, for $90K, I could buy a home and rent it out.
The whole idea is extremely intriguing, but the Tesla is extremely expensive, and while there are charging stations at your husband's work, you are presuming that your husband will remain employed there for a long time. Yes, charging stations are being build but they are pretty far off so you will be very limited in how far you can go without recharging. Besides, you can find a charging station, but they you have to sit there while the batteries recharge. It's not a 2-minute gas fill-up, so you have to budget for the time. I don't know who's building "free" charging stations but that makes zero sense! SOMEONE has to pay for the electricity!
It's not just a mileage thing - the car uses electricity when it's sitting in traffic, so don't just go by mileage alone.
I have a hybrid and get 45-50 mpg. It's fabulous to not be spending a huge amount of money at the gas station, I can tell you that! I would absolutely never buy another car that gets 15-25 mpg. It's irresponsible, and it's not necessary.
Look at things like Consumer Reports, not just the sales pitch of any car company.
We have a fleet of vehicles in my organisation and I am always looking to make savings on fuel. We don't have any fully electric cars, but we do have hybrids. While the fuel savings are great, it is very expensive to replace the battery, and resale can be difficult. Check it out before purchasing. I am now looking at vehicles with better fuel economy, but not necessarily electric or hybrid.
$250/month in gas for him?
My husband commutes 500 miles per week for his job. He spends about the same thing (averaging about 28 mpg). He'd NEVER buy an electric car.
Our total gas bill each month is in the neighborhood of $650... and that's when the kids are not in the middle of an intense sports season (that requires extra trips to school, including on the weekends).
And I'll believe the "they are building FREE charger stations across America" when I see it. There aren't any where we are. And free? Doubtful. Nothing is ever free.
These are very high end, expensive cars. Talking about buying a new Tesla to save a couple hundred in gas per month doesn't make much sense to me.
Would you pay 70-80K cash for it? Would you finance, what would the payment be? The people I know who own a Tesla have lots of other cars to drive when they want. It's almost like a novelty around here.
I think lowering car emissions is something we should all be concerned about. I just don't think this car is a realistic way to do that for most Americans.
I would not purchase one because I am not convinced that they are safe.
I live in the Dallas area and drive on our freeways and I want a car that will hit a good speed fast so I can get out of the way when needed and stop on a dime when needed. I currently get about 16 mpg (high end sports convertible) if I am lucky but I don't commute to/from work since I work from home and I probably only fill my gas tank every other week with premium only for about $60.
I prefer to err on the side of safety vs saving a dollar.
We've not seen too many of any electric cars around here and I have never seen a charging station.
Our good friend has one (a Tesla) OMG it is so NICE!!! I haven't driven it but I've been a passenger. He absolutely loves it. I've also noticed more and more of them around town lately which I take as a good sign.
We may get a Tesla. My husband is a huge fan. We have several friends who have them and they love them. Everyone is in a financial position for this to be a green purchase but also in the realm of fancy sports car. The short distance starts at $60k I think. Most people buy longer range for more money. If the idea really is to save on gas, there are way cheaper ways to achieve that. Chevy Volt is a great car and way less expensive. Hubby likely wants the fun of a tesla. Apparently they drive amazingly.
Our Ford C-Max Energi is a plug-in hybrid and I love it. You can get 20 miles on the battery and since we live in a relatively small town, it's almost free to drive around town. We've been averaging 120 mpg recently, since I haven't done a lot of highway driving. We've owned the car for 9 months and I've only gassed up a handful of times, maybe 6 or 7? I almost never have to think about gas.
Our electric bill seems to have only gone up about $35/mo, so it's well worth it. If you do a lot of long-distance driving, however, you won't get the same savings. But if you go for shorter jaunts, it's fabulous.
My initial response...only if there is a charge station at work.
Another option is they are now making engines that turn of while at idle. They restart without hesitation as soon as you move to the accelerator.
My daughter just traded in a BMW for a new model and it has this feature. You can turn the function off, but that is how she makes up the difference in payment.
Don't forget to get an insurance quote before your purchase. Her rate did go up by $8.00. I am sure it is not due to this feature, but just something to consider while tossing around the numbers.
**EDIT** Yes, free. I work in a government building and a station was built on campus. Anyone can park & charge with no fees. They also use natural gas on many of their vehicles. I have seen limo drivers and the like pull in and fuel up for free. I have never seen any advertisements for it, but then again, I have to use regular gasoline in my vehicle.
