One of the best ways to afford luxury goods is by saving for them. Start by putting aside money from each paycheck into a savings account.
Young people, in particular, justify luxury purchases by focusing on the booming resale market. It’s a way to maximize the bang for their buck.
Lower Fuel Costs
One of the best things about owning a Tesla Model Y is that it will save you money on fuel. It’s estimated that driving a Tesla for eight years will save you $24,000 in gas! Plus, Teslas are great for the environment. They don’t produce pollution like conventional vehicles, so they mustn’t be scrapped and recycled. As a result, they are better for the planet than even hybrids.
While it will cost you $5-$20 a day to charge your Model Y at home, depending on how much you drain the battery each day, and $25-$40 a visit to a Supercharger, you’ll save a lot of money over time. Plus, you’ll be able to avoid most traditional vehicles’ fuel taxes and congestion charges.
If you’re buying a used Model Y, it’s essential to know that Teslas are known for their durability and reliability. If you find a private seller with a MyTesla account, they should be able to share service history reports with you online. It will let you see exactly what options were installed on the car and its factory gate date when it was built.
Lower Maintenance Costs
The cost of maintaining a Tesla Model Y is significantly lower than the maintenance costs associated with traditional gas-powered vehicles. That is mainly because electric cars do not require oil changes and do not have many moving parts.
Additionally, Tesla batteries are less likely to need replacing than their traditional gas-powered counterparts. That is because electric batteries are backed by Tesla’s battery warranty, which covers up to 150,000 miles of ownership.
Furthermore, Teslas are one of the least-stolen vehicles in the United States. It is due primarily to the fact the vehicles have cameras and are challenging to break into, which helps deter thieves.
In addition, if you’re interested in purchasing a Tesla Model Y with full self-driving capability, buying a used version of the vehicle is often cheaper than a new one. However, a new Tesla may be a better option if you want to avoid purchasing total self-driving and are happy with the standard range. It is especially true if you want to take advantage of a state tax break for electric cars, which varies by state.
Lower Insurance Costs
A Tesla is one of the safest cars on the road but has a high price tag. For many, buying a Tesla isn’t financially feasible. But plenty of options remain if you want to go green without breaking the bank. For example, you can choose a used Model Y that offers an affordable alternative to newer models with more range.
While a used car will likely save you money on the purchase price, it will also cost less to insure than a newer Tesla. Numerous variables, such as age, state, driving history, and credit history, affect insurance costs. A few speeding tickets can cause your insurance premiums to skyrocket.
Because of its performance and safety features, a used Tesla One Y will have less insurance than a newer one. A used Tesla Model Y for sale will likely have a more extended battery and drive unit warranty than a unique model. It can prevent future repair expenses from costing you hundreds of dollars.
Lower Repair Costs
The Tesla Model Y has only been on the market for a couple of years, but already it’s become one of the best-selling SUVs in America. This popularity means plenty of used Model Ys out there to choose from, and they’re usually in excellent condition.
Teslas require fewer repairs because they have different mechanical components than traditional gas cars. Plus, they’re easier to diagnose thanks to their advanced electronic systems. So, even though Teslas can still cost a lot to repair, they’re less expensive than most other vehicles.
Another way that a used Tesla is more affordable to own than a new one is because they have a shorter depreciation cycle. Research shows Teslas can lose as little as 5.5% of their value after a year.
The Model Y also has a decent warranty to help make up for this. It offers four years/50,000 miles of bumper-to-bumper coverage and eight years/120,000 miles of battery and motor protection. That’s a much better deal than the typical warranty from most other luxury SUVs.
Lower Repair Time
A used Model Y has significantly less maintenance costs than a new one, as Tesla cars have few mechanical moving parts. Additionally, the battery and drive unit are covered under an eight-year/120,000-mile warranty on new performance trim units, which is longer than some car manufacturers offer.
A Tesla isn’t just more reliable than a traditional car; it’s also faster. The base 2020 Model Y can go from 0-60 in just over two seconds, and the top-of-the-line performance model can do it even quicker.
While the Model Y has some competition, it still holds its own against more established luxury brands. That’s especially true now that Tesla has a second online factory, making new cars as fast as possible. However, waiting four weeks or more to receive a new Tesla from your reservation date is not uncommon; that can be long if you need a car now. Buying a used Tesla saves you that delay. Plus, the vehicle depreciates faster than most other cars, reducing your total ownership costs.