Are you considering purchasing a new car and torn between the sleek Tesla Model Y and the reliable Honda CR-V Hybrid? It’s not just about looks or fuel efficiency, but also the true cost of ownership. In this post, we’ll compare these two popular models and break down all the costs associated with owning them over time. From maintenance to insurance to charging costs, we’ll help you make an informed decision on which car is truly worth your investment. So buckle up and let’s dive in!
Tesla Model Y Vs Honda CR- V Hybrid
The Tesla Model Y and the Honda CR-V Hybrid are two popular choices for compact SUVs. Both offer excellent value, great fuel economy, and a long list of standard features. But which one is the better choice for you?
To help you decide, we’ve compared the two vehicles in terms of their true cost of ownership. We’ve looked at factors like purchase price, fuel costs, maintenance costs, and resale value to see which SUV comes out ahead.
The Tesla Model Y is the more expensive vehicle to purchase, starting at $52,990. However, it also has the potential to save you money over the long term. The Model Y gets an EPA-estimated range of 316 miles per charge, meaning you’ll only need to stop for gas about once a month. And since electricity is cheaper than gasoline, you’ll save money on fuel costs as well.
The Honda CR-V Hybrid is also very efficient, with an EPA-estimated range of 487 miles per gallon. However, since it uses gasoline instead of electricity, your fuel costs will be higher over time. The CR-V Hybrid also has a higher starting price than the Model Y, at $37,145.
When it comes to maintenance costs, both SUVs are very affordable to keep up with. Neither vehicle requires special fluids or filters that are expensive to replace. And since they’re both relatively new models, there aren’t likely to be any major
Cost of Ownership
The cost of ownership is one of the most important factors to consider when purchasing a vehicle. The total cost of ownership includes the purchase price, fuel costs, maintenance and repair costs, and depreciation.
The Tesla Model Y has a base price of $52,990. With an estimated range of 315 miles per charge, the cost of electricity to charge the Model Y is about $15 per 100 miles. Assuming 15,000 miles driven per year and a price of $0.12 per kWh, the annual cost to charge the Model Y is about $540.
The Honda CR-V Hybrid has a base price of $38,940. With an EPA-estimated fuel economy rating of 40 mpg combined city/highway, the annual fuel cost for the CR-V Hybrid is about $900.
Assuming both vehicles are driven for 15,000 miles per year and gas prices are $2.50 per gallon, the Model Y will save about $360 in fuel costs compared to the CR-V Hybrid over a three-year period.
Maintenance and repair costs will vary depending on the make and model of the vehicle as well as driving habits. However, general maintenance items such as oil changes and tire rotations are typically less expensive for electric vehicles than gasoline vehicles since there are fewer fluids to change and no spark plugs to replace. Overall, electric vehicles tend to have lower maintenance and repair costs than gasoline vehicles.
Depreciation is another
Assuming you own your Tesla Model Y for eight years and travel 15,000 miles per year, here are your estimated total costs of ownership by category:
Fuel Costs: $0
Electricity Costs: $1,800
Insurance Costs: $4,200
Repair & Maintenance Costs: $5,400
Total Cost of Ownership over 8 years: $16,400
On the other hand, if you own a Honda CR-V Hybrid for the same eight years and travel the same 15,000 miles per year, your total estimated costs of ownership would be as follows:
Fuel Costs: $7,200
Electricity Costs: $1,440
Insurance Costs: $4,320
Repair & Maintenance Costs: $6,480
Total Cost of Ownership over 8 years: $19,440
As you can see from these numbers, even though the Tesla Model Y may have a higher upfront cost than the Honda CR-V Hybrid, it is actually cheaper to own in the long run. maintenance costs are lower and you will save money on fuel costs since you won’t be using any gas.