I have just finished 3 years leasing my 2022 Tesla Model 3 Long Range. Some numbers to reflect on.

All up it cost me $42,588 out of pocket to drive 112,000 klms. This included all interest and fees payable to LeaseLab, the balloon payment on the car, the proceeds from then selling the car and importantly all running costs such as insurance, rego, tyres, tyre rotations, an inspection with Tesla just before the warranty ran out, wiper blades and electricity to provide forward propulsion. $0.38 per kilometre. Fantastic.

So now I need to work out if this was a good deal or not...

If I had purchased or driven an existing similar size / price internal combustion engine vehicle, I could reasonably expect it to have cost me:

$16,128 for fuel. (8 litres per 100klms @ $1.80 per litre)
$2,175 for rego in Queensland for 3 years.
$4,500 for insurance for 3 years @ $1,500 per year.
$2,700 for 8 new tyres at $300 each + 6 rotations @ $50.
$3,200 for 8 services @ $400 each @ 15,000 klm intervals.

Totalling $28,703 or about $0.26 per kilometre in running costs.

This brings the true cost to drive a brand-new Tesla Model 3 Long Range to $0.12 per kilometre ($0.38 - $0.26) or $13,695 over the 3 years and 112,000 kilometres. $88 per week. Pretty happy with that.

There are a thousand variables to the above scenario and everyone's position on this will be different but the key takeaway from the Novated Lease I had (and have just re entered into with my new Model Y LR) is that if you pay a reasonable amount of tax you would be crazy not to get a Novated Lease for your EV. Thanks Albo and LeaseLab. Love your work.

If you are looking to buy a Tesla, be sure to check out the latest price forecast at www.teslapriceforecaster.com It includes a full tracking history of all the price movements in Australia over the past few years and if you enjoyed this article, you could also use my Tesla referral code to get yourself some free Tesla goodnesshttps://www.tesla.com/en_au/referral/randall46 741 Be sure to start your order with the link.

LeaseLab also have an offer open for readers of this article... thanks for getting to the bottom of it.

Our new ride. Tesla Model Y LR, Glacier Blue with Black Interior. More to come.

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