Which vehicle is a better value?
If you're looking to buy a new (or used) car in 2021 and want to compare choices, we built a more advanced Total Cost of Ownership calculator than anything out there.
With this model, we looked at the cost of ownership for:
- married individual in California (you can pick your state)
- driving 15,000 miles/yr (you can pick your driving range)
- financed with good credit rating (you can select your financing option)
- fuel prices in California and rising 10%/yr (you can enter your own prices)
There really was no comparison in value between the two. The Tesla Model 3 won. The Cost per mile or $/mi of the Tesla was $0.50 over 5 years, while the BMW M340 was 42% higher to maintain.
What makes ours different is that we take time into account and let you enter in your own variables for fuel, electricity, and credit standing. The data for fuel and electricity is pulled from various sources such as the US government's databases for fuel prices for each state.
Try it for yourself here