Drive a Tesla, Save Your Wallet Not The World
Written by: Isaiah Wilson
A trip to the gas station used to be filled with very little emotion, a few candy bars, and maybe a soda, but now it is an experience drivers, young and old, are beginning to hate. With the cost of regular gas soaring above $4.00 per gallon, many US drivers ask themselves who's to blame, and the truth is, there are many different reasons for the recent pain at the pump. Federal taxes account for about 18 cents per gallon currently. The cost of crude oil continues to rise, and due to the elasticity of gas, almost all of these expenses get pushed onto us, the consumers. So with the price of gas only seeming to know one direction, is it time for us to head to the nearest Foot Locker and get the best pair of walking shoes money can buy, or is there an alternative?
Many say no.
The solution may just come from the well-known Tesla brand electric cars. As more and more consumers become accustomed to the idea of driving past their friends in a piece of electro-automotive glory, more people begin to ask themselves if it's worth it. An article by FinanceBuzz.com ran the numbers, and they add up to an economic nightmare for gas-guzzling drivers. If you were to drive a Toyota Camry that gets about 32 MPG and drive 15,000 miles per year by the end of one year, you'd be at about $1,589 in gas, says Finance Buzz. Conversely, if you were to drive a Tesla Model S the same distance, you'd only be spending roughly $555. So with over a $1000 difference, the answer seems simple right? Well, not exactly installing your at-home Tesla charger can be pretty pricey, so let's look at how this looks over a few years of driving.
Even despite a hefty upfront cost by year two, the Tesla yet again has the Camry beat, and this time it's by nearly a grand.
As young people without oodles of expendable income, it may not make sense to jump on the newest Tesla and watch your ROI soar. However, as a world of high gas prices and inflation becomes one that we seem to be endlessly trapped in, maybe a trip to the Tesla dealership is worth the drive.
Works Cited
Runkle, Larissa. “Is a Tesla Worth It? We Compare All the Numbers to a ‘Normal’ Car.” FinanceBuzz, 6 May 2022, https://financebuzz.com/is-a-tesla-worth-it.
Tepper, Taylor. “Why Is the Price of Oil Rising?” Forbes, Forbes Magazine, 14 Mar. 2022, https://www.forbes.com/advisor/investing/high-oil-prices/.
“Why Are Gas Prices so High, and What Will Bring Them down?” NBCNews.com, NBCUniversal News Group, 12 May 2022, https://www.nbcnews.com/business/consumer/why-gas-prices-high-when-will-back-down-rcna28314.
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