Home Electrification: Transportation (3/4)
Third Step: Make your next new car electric.
We have a Prius that’s paid off, so we’ll run it into the ground.
We needed a second car to support our growing family, so we bought a 2021 Tesla Model Y. The key is getting the home charger. It’s the connective tissue that unlocks true behavior change. I promise you won’t miss going to the pump! You get a lot of time back and you’re helping reduce wait times for others at the super chargers.
This was my first time buying car new, but I knew what a giant life improvement an EV would be so I went for it. It’s so intuitive that I won’t bore you with the well documented Tesla experience.
I will point out, to keep maintenance costs as low as possible you’ll want the regenerative braking on “full”. This means we rarely use the brakes. It works by turning the accelerator from single function pedal to multi function control, like a motorboat throttle. By this I mean, a hard press accelerates, slight press maintains current speed, and no press is a soft brake.
Products:
- Tesla Model Y 2021 with options: $71.5k (BUY), we put $7.1k down for a $900 monthly payment over 6 years.
- Financing Charges: $4.9k ($64.4k financed over 6yrs at 2.5%)
- Tesla Home Charger: $500 (BUY) (125 FT 6/3 Romex Wire $530 (BUY) and $685 electrician.
Total Spent: $78.1k ($8.8k upfront, $69.3k over 6 years)
Ownership Cost Reductions: $23k over 10 years of ownership ($150/mo less for electricity vs. fuel + $500/yr less maintenance vs. gas car)
*I am optimistic that with full self driving we will be able to monetize our Model Y via ride share, but thus is very TDB.
Let’s go to STEP 4
Guide Index
Home Electrification: Create a Baseline (1/4)
