Earlier this week an estimated 300,000 people forked over a $1,000 deposit to reserve a Tesla Model 3 electric car designed by entrepreneur Elon Musk. The car hasn’t even gone into production yet, and won’t be available for a couple years. When the Model 3 does begin rolling off the production line, buyers will pay an estimated $35,000 for this vehicle.
Some industry analysts said the recent Tesla launch created the kind of buzz similar to Apple releasing its latest iPhone. So what’s so great about this car?
The driving force behind the popularity of Tesla’s latest announcement to create an electric car far below the $70,000-plus price tag of earlier models is its price point. But take closer look, and there’s more than one reason for its mass appeal. It can travel about 300 miles on a single charge. Step on the accelerator (not the gas pedal), and you can go from 0 to 60 mph in less than six seconds. And it’s got a 15-inch laptop or tablet-style display that gives you all the information you need while driving.
Pretty enticing if you’re in the market for an electric car, and have the cash or financing to pay for it, right? We hope to see Tesla make the Model 3 a success. But Tesla owners could be in for a surprise when their car needs to be repaired. Industry research on current Tesla models shows that repairing a minor scratch or dent can cost an estimated $7,000. Some repair costs to its aluminum body for bigger dents or damage can range from $11,000 to $30,000. And mechanical repairs are just as expensive.
In other words, minor repair work to a Tesla could cost as much as a used car. And major repairs could be as much as the price tag for a new gas-powered car. That’s certainly something to think about before dropping $1,000 to reserve a Model 3, and fork over the balance when the car comes off the production line.
Owning a Tesla or other electric car can likely save you money in the long run, and have less of an impact on the environment. But if you’re not in the market for one, or can’t afford one, keeping your gas-powered car well-maintained can still save you money. Simple repairs and regular maintenance can have a big impact on fuel economy, performance and longevity.
Until the Tesla Model 3 electric car comes out, keep your gas-powered car running smoothly with regular oil changes, maintenance, and any necessary repairs by coming in to see us. Click here to schedule an appointment, call us at 515-243-8185, or stop by at 901-8th Street in Des Moines.