When it comes to owning an electric vehicle (EV), maintenance costs are usually very low. Traditional internal combustion engines have multiple systems that need regular maintenance to keep them running as well as possible. Some of these wear-related maintenance and replacement jobs include oil changes, transmission fluid flushes, radiator flushes, timing chain replacements, valve cover gasket replacements, fuel pump replacements, water, thermostat replacements, brake fluid bleeding and replacement, brake pad replacements, brake rotor. replacements, and the list goes on and on. Some of these maintenance items, like an oil change, can be done at home for less than $50, and some replacement items, like replacing a faulty thermostat, will only cost you about $5 if you can replace it yourself.
On the other hand, electric cars usually don’t have as many components that could fail. Brake systems in electric vehicles usually revolve around regenerative braking, which reduces wear on the brake pads. Also, while most electric vehicles have some sort of cooling system, it’s usually less rudimentary than a typical internal combustion engine’s radiator and requires less maintenance. However, not all electric vehicles are easy to own, with some luxury electric cars capable of racking up huge repair bills.
1. Tesla Model S
The Tesla Model S ranks as one of the most expensive electric vehicles to own over time. The estimated total cost of ownership is $69,501 over a five-year period, according to CarEdge. Annual costs equate to about $13,900 for a single year. In addition to maintenance and repair, the Model S’s cost of ownership is inflated primarily by the factors of depreciation and insurance premiums.
Tesla’s recommended service intervals are every 12,000 miles. From tire rotations to brake fluid tests and possible replacements, these maintenance checks are relatively inexpensive, but they add up over time.
2. Tesla Model X
The Tesla Model X is a luxury mid-size crossover SUV notable for its distinctive gullwing doors and true-to-form Tesla styling. Electrek published an article about a Tesla Model X with nearly $29,000 spent on repair and maintenance bills over its 400,000-mile lifespan. According to Electrek, the costliest repairs involved malfunctioning middle-row seats, which cost about $5,375.90 to replace. The center touchscreen was also replaced, along with the Cargoport door, which cost about $3,389.83.
Other regular maintenance items that weren’t necessarily labeled as full repairs included a set of new brakes at $1,788, two front tires at $392.61 for the pair, and a set of keys, which cost 361 , $35 for the couple. While these costs may seem huge, remember that this specific Tesla Model X had over 400,000 miles on it. If this were an internal combustion vehicle with oil changes every 5,000 miles done at a dealership with an oil change price of $100, that vehicle would have over $8,000 in oil changes alone.
Meanwhile, CarEdge judged the Model X’s total costs of ownership to be much higher when taking into account depreciation, loan interest and payments, insurance premiums and fuel costs (i.e. electricity ). With a five-year ownership period set at $69,710, or $13,942 per year, that makes it slightly more expensive than the Model S according to the site’s data.
3. Porsche Taycan
Edmunds creates a “true cost of ownership” formula to judge total costs of ownership over five years. With a total price of $112,296, the outlet lists average maintenance costs at $4,496 and repair costs at $3,340. Other categories to note include insurance costs and taxes. However, most of this total cost of ownership is due to depreciation and financing. Over those five years, Edmunds estimates a loss of $56,411 due to depreciation and $18,979 due to financing.
Again, there are no timing chains or high-performance engines to worry about here, but the Taycan still finds a way to cost a decent amount of money. Porsche has a slightly strict maintenance schedule that keeps the price of ownership high, including a full brake fluid replacement recommended at just 20,000 miles.
