Advice on Tesla Model Y

Transform_IT

Transform_IT

Transform_IT

Associate
Joined
18 Oct 2012
Posts
465
Hi all,

I am in the process of looking for a Tesla. My current commute to work is costing me roughly £200 a month in fuel and I feel the cost saving is justifiable with the Tesla. Not to mention I drove a friends and test drove a M3 and MY and loved them both. Now, here is my predicament and I am looking for advice on the following options:

Tesla
Ex Demo Model Y (5,600 miles and 4 year warranty) - 12,000 miles a year over 48 months - £370 a month with a £3,000 deposit (0% PCP)
Brand New Model Y - 12,000 miles a year over 24 months with £3,940 upfront - £416 a month (PCH)

CarSuperMarket
Used 2021 Model 3 (20,000 - 31,000 miles - difference stock available) - 12,000 miles a year over 48 months - £240 - £295 a month with a £3,000 deposit (0% - 11.6% PCP dependant on vehicle)

*EDIT* Which would be the better option? I am swaying towards the Ex-Demo Model Y, but I am interested to hear your thoughts and similar experiences?

Thanks,

T_IT.
 
Last edited:
Financially, none of them make any sense. You'd be much better off buying a cheaper car like a second hand diesel Skoda Octavia, paying as much as you can outright. Then you would be saving money on your motoring costs.

With PCP plan monthly payments you aren't paying anything towards the cost of the car, you are just hiring it.
 
Last edited:
radderfire said:
Financially, none of them make any sense. You'd be much better off buying a cheaper car like a second hand diesel Skoda Octavia, paying as much as you can outright. Then you would be saving money on your motoring costs.

With PCP plan monthly payments you aren't paying anything towards the cost of the car, you are just hiring it.
Click to expand...
Apologies for the confusion. Edit OP to change the question slightly. I want to purchase one of them, but I am wondering which would be the most logical.
 
How are you going to buy the car? If it's on PCP/PCH then I'm saying it doesn't make any sense financially, you'd be better off buying a much cheaper second hand car with as little finance as possible.

It's not really clear from your post exactly what you want advice about.
 
Hi there

If it is just for work commuting you need to basically factor in:
- Road tax if applicable
- Depreciation cost
- Energy / Fuel cost
- Insurance cost
- Repairs / consumables

Would a second hand Skoda / VW diesel etc be cheaper to buy outright than hiring an EV and then handing it back 4 years later but not owning anything against say dropping 4-8k on an older used Diesel Saloon/Estate which you own, so no monthly payment and limited depreciation but of course potential repair bills.

If its not such a money saving exercise buy the modern EV with bells and whistles for a monthly figure. But bear in mind if you keep it, so monthlies plus deposit and final payment, then what is it worth end of term as depreciation on some EV's is big. Whereas a used few years old diesel has done its depreciation and they tend to just keep going.
 
Last edited:
I get the feeling the OP wants advice on which PCP/PCH option would be cheaper. However, in terms of being a good financial decision, these are both complete non-starters.

A cheaper second hand diesel or petrol car, from a reliable brand, with as little finance as possible, is going to be way cheaper, plus he will actually own a car. The maintenance costs won't be that high if he chooses wisely.
 
radderfire said:
I get the feeling the OP wants advice on which PCP/PCH option would be cheaper. However, in terms of being a good financial decision, these are both complete non-starters.
Click to expand...
This is what I was asking.

I am currently driving a 2012 VW Passat Estate. I want a newer/modern car with a full warranty, technological advancements, etc. I have driven around in older cars for many years and now want to treat myself. My monthly fuel cost is approximately £200, and I anticipate that on the Octopus EV tariff, I will be able to offset a good portion of that, meaning I am technically paying less overall.

What I am asking is what would be best out of the 3 options?
 
If you ignore other factors in this decision and soley want a Tesla for 48 months then just choose whichever is the cheapest on the monthlies. The rate won't really matter as you're only looking at the monthly payments.
 
Is it more that you want a Tesla rather than you want to save money then?

You seem to be going for quite expensive cars on finance, so it doesn't seem much of a money saving exercise. If it's that you really want a Tesla then I can see why you are showing these options, if it's for saving money, then I can't.

Are you sure there aren't any other options that would be cheaper and satisfy your requirement for newer and better tech. E.g. some of the petrol hybrids? The Honda Civic hybrid might be worth a look.

Have you got a home charger yet? If not, then that's more cost. However, you really want to have one as it makes EV ownership much cheaper.
 
EddScott said:
If you ignore other factors in this decision and soley want a Tesla for 48 months then just choose whichever is the cheapest on the monthlies. The rate won't really matter as you're only looking at the monthly payments.
Click to expand...
Spot on. As for the cars mentioned, get the Model Y. Having been used to the practicality of the Passat Estate then the compromise of the Model 3 may be a bit of a blow.

Ex demo = £432 a month
New = £580 a month

£148 a month extra doesn't seem worth it to rent new vs used.
 
radderfire said:
Is it more that you want a Tesla rather than you want to save money then?

You seem to be going for quite expensive cars on finance, so it doesn't seem much of a money saving exercise. If it's that you really want a Tesla then I can see why you are showing these options, if it's for saving money, then I can't.

Are you sure there aren't any other options that would be cheaper and satisfy your requirement for newer and better tech. E.g. some of the petrol hybrids? The Honda Civic hybrid might be worth a look.

Have you got a home charger yet? If not, then that's more cost. However, you really want to have one as it makes EV ownership much cheaper.
Click to expand...
He has posted numerous times it's a want rather than a need.

"have driven around in older cars for many years and now want to treat myself."
 
Last edited:
From the OP:

"and I feel the cost saving is justifiable with the Tesla"

I'm just pointing out there is no cost saving, quite the opposite. He seems to be looking for a justification. Unfortunately there isn't one.
 
Also check out BYD.

They may not be quite as quick as a Tesla but I think a SEAL is £499 a month with like a £4999 deposit for 4 years and you can then just hand it back or buy it and its brand new. Or look at second hand deals.
Having driven a Tesla and sat in the BYD, the latter is a far nicer place to be, I was somewhat disgraced by the Tesla interior, build quality was somewhat shocking, whereas the BYD seemed far more inline with a normal car interior wise with more features and a full glass roof, so worth looking at the BYD options as they see mega aggressive at the moment on the monthly deals with 5k deposit.

New BYD Car Offers | PCP Finance Deals | England | Hartwell

Hartwell offers a wide range of new BYD car deals to our customers in Kidlington, Dunstable, or Hereford. Discover how you can save on your next BYD
www.hartwell.co.uk www.hartwell.co.uk
 
Last edited:
If you’re spending £200/mo on fuel, you’ll save about £180/mo switching to electric. Not to mention near zero maintenance costs and 4 years warranty.

I’d go for the used model Y on the PCP then see if you can buy it at the end and keep it indefinitely.

You’ll pay for over half of the car with your fuel savings alone!

Be aware that tax will go up from £0 to £180 per year soon.
 
Last edited:
Tesla currently have a lease deal on the Model Y, in advance of the new model early next year. It works out to approx £15,000 over 3 years. I think it is £4,299 deposit plus 36x £299
 
You must log in or register to reply here.
Back
Top Bottom