Speaker A
Anyway, I just paid the registration for this [ __ ] Tesla. Just so you understand, it turns out, sitting in my diesel, damn, to understand, they started charging us more cash for annual registration.
Tesla registration costs $1,300 yearly despite depreciation; electric car taxes and ownership costs discussed.
Key Takeaways
- Electric vehicle registration fees can be unexpectedly high, offsetting some fuel savings.
- Tesla vehicles can depreciate significantly over a 5-year period.
- Taxation policies on electric vehicles vary and can impact ownership costs.
- Driving habits (short vs. long trips) influence the overall cost-effectiveness of EV ownership.
- Personal financial decisions and market depreciation heavily affect vehicle value.
What the video covers
- The speaker paid $1,300 for annual registration of a Tesla, which is significantly higher than other vehicles.
- The Tesla has depreciated about $90,000 over 5 years, losing around 60-70% of its value.
- Despite depreciation, savings on fuel costs are noted, but overall profitability is questioned.
- The car has been driven only 50,000 km in 5 years, mostly short trips; longer trips use a diesel X5.
- The speaker compares Tesla’s registration cost to a Lucid electric car, which costs only $400 annually.
- Electric cars are taxed differently to compensate for lack of fuel taxes, leading to higher registration fees.
- The Tesla and Lucid have similar market values ($40,000-$50,000), but registration costs differ greatly.
- The speaker reflects on personal responsibility for the financial loss but expresses frustration with taxation.
- The video highlights the challenges and hidden costs of owning electric vehicles in terms of depreciation and fees.
Full Transcript — Download SRT & Markdown
Speaker A
There. And the registration just cost me 1,300 dollars for the year. What's the problem? Well, it’s not exactly a problem, damn, it’s not a huge problem.
Speaker A
So, the car today, even though it's a Tesla P-something, my goodness, it’s worth, well, I don’t know, maybe 50 thousand. I don’t think it’s worth more than that.
Speaker A
Today it has depreciated over 5 years. I’ve had this junk for 5 years now. My wife drives it. It lost 90,000 dollars in value, because it cost me 140 new. I have no one to blame but myself here. I’m an idiot, but I
Speaker A
wanted to try it out. So I tried it. So, in 5 years, the car lost 90,000 bucks. But I’m saving a crazy amount of money on gas. Well, on gas, diesel, diesel, it doesn’t matter. I mean,
Speaker A
we’ve already driven 50,000 km. We’ve driven that much in this car, can you imagine? 50,000 km is all we’ve driven in this car in 5 years.
Speaker A
That’s practically nothing. Why? Because for long trips, we take the diesel X5. Because every day I drive either one M-series, or another M-series, or the X. Well, in general, in fact, how profitable is it really?
Speaker A
In my case, it’s not profitable at all, honestly. If I lost 90,000 in 5 years, that means I lost, what is that in percentage? 60% of the value, damn, 50% of the value, no more than 50, 70% of the car’s value, it’s a disaster.
Speaker A
And that’s how they squeeze more money out of us. So, let me explain. My Lucid with 2,000 horsepower, I pay 400 bucks a year for it. Since it's an electric car and I don’t pay them for gas, they decided to tax us in other
Speaker A
ways to somehow even things out. So, the price is the same, just so you know, whether it’s the Lucid or the Tesla, they cost about the same today, in the range of, well, 40-50,000, it doesn’t matter. And I’m paying
Speaker A
three times more. Well, I realize these are my problems. I’m just telling you about it. 1,300 dollars. I’m stunned.
Topics:Teslaelectric vehiclecar depreciationvehicle registrationEV taxesLucidcar ownership costsdiesel carTesla P modelcar value loss
