So a $40,000 car over 10 years would make a monthly payment of $333.00 a month plus the finance charges. Subtract in the difference between the cost of gas and electricity, for 100,000 miles, and the numbers start looking very attractive, especially if you could pay it off early!
The real cost of ownership costs are the car payments minus the savings in gas. Maintenance is also reduced depending on how the EVs fare over the coming years.
A ten year term is virtually unheard of right? That's why it would work, cause it would disrupt the leasing and auto financing industry too. And it is a super powerful way to make the technology available to the most people. Tesla can get its costs down only so far, then financing is the next and final way to get the costs down to an affordable compelling level.
At some point, Tesla may even extend some of its warranties, as the cars get older and as we see how well they age.
So at 100 k miles, the savings over gas would bring cost of ownership down another 180 a month conservatively, yeilding cost of ownership less than a cheep gas compact ICE, or around $150.00 to $180.00 a month. Even low wage earners could get a model 3 or a successor.
Hopefully soon, some smart insurance company will offer a less expensive tailored insurance solution for Tesla owners that will take into account the safety factors inherent in Teslas, and reduce cost of ownership even more.
Of course even an eight year term would be fantastic and would still set the bar low enough for cementing the model 3 a place in history.