Purchasing a brand new Tesla as a holiday gift for a loved one might not be as crazy of an idea as it initially sounds, and here’s why.
Those stumped on what to buy their significant other or loved ones this holiday season might want to consider a brand new Tesla. Although society is currently in the middle of uncertain economic times, during an unprecedented global pandemic, buying a brand new Tesla as a gift for the holidays may not be as crazy of an idea as it sounds. This is especially true when weighing up the many benefits to owning an electric vehicle.
Tesla has been delivering high-quality electric vehicles (EVs) to customers since the mass production of its Model S sedan began in 2012. Since then, Tesla has solidified itself as the most valuable automaker in the world by market value. With recent efficiencies integrated into its assembly infrastructure and in-house battery pack production, Tesla has been able to lower the purchase price of three of its four current models in the past six months alone.
The only Tesla to actually increase in price is the Model 3. According to Tesla’s website, the “Standard Range Plus” version currently costs $37,990 without any customizations. Even at this price, the Model 3 sits as the most affordable option offered by Tesla and is also the best-selling EV of all time. There has to be a reason why so many customers have flocked to this model, right? Aside from a lower purchase price, there are several other factors that actually make more sense for prospective Tesla owners in the long run.
Pay More Up Front To Spend Less Over Time
Think of the holiday purchase of a new Tesla as a way of paying it forward to yourself, and the loved one fortunate enough to receive such an incredible gift. One reason is that several states offer various incentives for EV owners that are not offered to gas car owners. Some of these include purchase discounts, tax benefits, and designated driving lanes or parking spots. Another big reason why a Tesla may not be the worst holiday investment, is the price saved by charging a vehicle in lieu of pumping gasoline. People who drive combustion engines spend hundreds or even thousands of dollars on fuel a year. Tesla’s website offers a gasoline savings calculator that can estimate how much one could save per year by driving electric. For example, if someone were to drive their Tesla 12,000 miles a year with an average price of gas at $2.85/gallon, they would save around $5,100 over six years.
Another big perk Santa might want to consider is that the average cost of maintenance and repairs is significantly lower each year for EV owners compared to gas vehicles. This is because Tesla cars do not require traditional oil changes, fuel filters, spark plug replacements or emission checks. Furthermore, even brake pad replacements are rare in EVs because regenerative braking returns energy to the battery, significantly reducing wear and tear. Realistically, most people don’t go out and buy a brand new vehicle for a loved one during the holidays unless it’s in a commercial. That being said, if a customer has already been in the market for a new EV, and has somewhere between $37,000 and $150,000 to spend, a Tesla could easily be the way to go. Apart from the style, performance, and innovation of Tesla’s EVs, the money saved over time through incentives and without buying gasoline or costly maintenance, makes this holiday gift a lot more logical than one might originally think.
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