3 Cars That Cost More Than a Tesla but Save Money in the Long Term
Written by
Joel Lim
Edited by
Zuri Anderson
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With all the backlash Tesla has been getting in recent months, many people are wondering about alternatives. Tesla is, in many aspects, a great buy.
It’s roomy, it’s efficient, it’s low-maintenance, and it’s got great technology. It’s really hard to beat. You can certainly find more luxurious cars, but they might not hold their value well. You might find cheaper electric vehicles, but they typically won’t feel as luxurious.
But don’t give up hope.
GOBankingRates did find three cars that rival Tesla. Yes, they’re more expensive than the popular (and not so popular) EV. But they’re likely to actually save you more money in the long run than a Tesla will.
BMW iX
BMW’s answer to the Model S is the iX, which starts just slightly higher than the Tesla at $88,425. While few people will argue that a BMW is inexpensive or will save you money, it does put up stiff competition against the Tesla in one particular area: Maintenance.
Both cars are considered low-maintenance vehicles, as most EVs are, but the BMW has an extensive network of parts and supplies, making any repairs or replacements much easier to access and perform.
And while you are unlikely to have to deal with the auto shop a lot, when you do have to bring your Tesla in for maintenance or repair, you may be waiting weeks or months to have your car worked on. That can be both a pain in the neck and cost you a ton of money in rentals.
What’s more, the BMW iX comes with a complimentary maintenance plan up to the first three years or 36,000 miles. Tesla, sadly, does not.
So just between those two factors, you’ll more than make up the extra five grand you spend up front.
Porsche Taycan
Comparable to the Tesla Model S, which starts at $81,630, the Porsche Taycan outperforms its competitor in more ways than one. Starting much higher at $101,395, this luxury four-door sedan handles better on the road at the highest speeds.
And though the range isn’t as long as that of the Model S, its battery does charge extremely quickly thanks to Porsche’s new technology. It’s also got Apple CarPlay, rear-axle steering and torque vectoring.
Plus, it’s a Porsche. So you’ve got the best of both worlds with the eco-friendly element and the luxury element combined to make this car valuable for decades to come.
Sure, the Taycan depreciates at about the same rate the Model S does, but where you’ll save money is in the high-speed charging capabilities that allow you to get your car back on the road quickly. And if you invest in a charging station in your home, you only need to charge it while you’re home during your own downtime.
If you want to take long road trips, just be sure you plan around charging networks, and you’ll save significant time. And let’s be real, time is money.
Lucid Air
Lucid Motors jumps into this competition with the Lucid Air, a luxury electric vehicle that outperforms the Tesla Model S in more ways than one.
The Lucid Air Grand Touring is the Model S rival. It starts at $110,900, but it more than makes up for that sticker price with its incredible performance, smooth comfort and premium features.
Of course, the biggest area where you’ll save money is in the driving range. The Model S can get you up to 410 miles at its best performance. In contrast, the Lucid Air has been known to travel up to 516 miles, according to Car and Driver. That’s an extra 100 miles in charging time and energy you get to save.
In the end, you’ll pay a higher price up front, but if you hang on to the car for several years, the longer driving range will more than make up for the extra expense. Plus, you’ll get to drive in a significantly more luxurious vehicle than the Tesla can hope to be. It handles better, has better interior features and accelerates more quickly.
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