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Vehicles
Tesla Model 3
Buy
Electric
$53,984($562/mo)
Toyota Corolla
Buy
Petrol / Gas / Diesel
$51,595($537/mo)
Compare
Tesla Model 3
Per month
$562
$53,984 over 8 years
+$2,389 (5%)
Toyota Corolla
Per month
$537
$51,595 over 8 years
Cheapest
| Tesla Model 3 | Toyota CorollaCheapest | |
|---|---|---|
| $43,990 | $26,695 | |
| Depreciation | + $16,200 | + $9,700 |
| $15,600 | $13,200 | |
| $10,394 | $21,200 | |
| Taxes & fees | $0 | $0 |
| End of ownership | $200 | $200 |
| Total | $53,984+$2,389 (5%) | $51,595 |
| Per year | $6,748 | $6,449 |
| Per month | $562 | $537 |
| Per mi | 0.56 USD/mi | 0.54 USD/mi |
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Total cost of ownership
Toyota Corolla costs $2,389 less overall
Tesla Model 3
$53,984+$2,389 (5%)
Toyota Corolla
$51,595Cheapest
Where the difference comes from
Tesla Model 3
Toyota Corolla
Acquisition+$17,295
Tesla Model 3
$43,990
Toyota Corolla
$26,695
Depreciation−$6,500
Tesla Model 3
+ $16,200
Toyota Corolla
+ $9,700
Fixed costs+$2,400
Tesla Model 3
$15,600
Toyota Corolla
$13,200
Running costs−$10,806
Tesla Model 3
$10,394
Toyota Corolla
$21,200
End of ownership
Tesla Model 3
$200
Toyota Corolla
$200
Cost over time
Tesla Model 3
Toyota Corolla
Assumptions used
Curious how the calculation actually works? See what goes into it