Kelley Blue Book continues to roll out its 2022 awards, and Tesla made another list, though this time it was only one of the brand's vehicles. The Tesla Model 3 was one of several winners in KBB's 2022 5-Year Cost to Own Awards, but only one of two electric vehicles. The Nissan Leaf also made the list.
It has been proven time and time again that even though EVs are much more expensive than their gas-powered rivals, they'll save you money over the longer term. However, there are many factors and variables that will impact how much (or how little) you save. Moreover, the longer you own your EV, obviously, the more your overall savings will grow.
The Tesla Model 3 is often touted for saving people money. This is because while it's a bit pricier than many entry-level EV rivals, it's still Tesla's least expensive vehicle. It also offers more range than most rivals, and it's one of the most efficient vehicles on the road today. Moreover, you should be able to own a Model 3 for many years.
As we just recently shared, Kyle Conner has over 100,000 miles on his Model 3, and it's in excellent shape, with plenty of battery capacity remaining. Nonetheless, if you do choose to sell your Model 3, there's a good chance you'll make out very well on the used market. In fact, Tesla's vehicles are selling at a premium on the used market, and sometimes they cost just as much as a new model, and in some cases, more.
The Nissan Leaf is one of the cheapest EVs on the market today. It doesn't offer the range, efficiency, or resale value of the Model 3, but it's a solid option if you need to get into an electric car on the cheap.
At any rate, KBB factors in a vehicle's purchase price, insurance, maintenance costs, fuel costs, and depreciation when determining the winners of its 5-Year Cost to Own Awards. According to the publication, the 2022 Tesla Model 3 topped the Electric Luxury Vehicle segment with a total 5-year cost to own of $48,233. KBB says this is $16,411 less than the segment average.
Meanwhile, the 2022 Nissan Leaf was the top non-luxury Electric Vehicle, with a $34,134 5-Year Cost to Own. This figure comes in at $13,258 less than the average in the segment.
To see a list of all the winners of Kelley Blue Book’s 2022 5-Year Cost to Own Awards, follow the source link below. In the meantime, share your thoughts with us in the comment section below.
