The Toyota costs $11,805 less, and the cost per mile of fueling it is 5 cents per mile, compared to 7 cents per mile for the Tesla Model 3.
For fuel prices, I'm using today’s nationwide average gasoline price of $2.59 per gallon and $0.28 per kWh that Tesla charges at its Supercharger stations.
Even if electricity were 100% free, it would take 20 years for the Tesla to pay off the Toyota’s $11,805 price advantage.
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But of course electricity isn’t free, and the $11,805 also carries an opportunity cost, which at 5% is almost $600 per year or similar to the Toyota’s entire annual gasoline cost.
NOTE: A version of this article was first published on or about Jan. 12, 2019, on my Seeking Alpha Marketplace site.
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