🏠 How much would I save charging my EV at home instead of using public superchargers?

Deciding if you can truly afford a Tesla means looking past the sticker price. While a car payment on a $40,000 loan might be around $650, there are hidden numbers to prepare for.

Shop around for financing, as local credit unions often beat partner banks. Let's calculate your total monthly costs to see if an EV actually fits your budget.

Insurance and EV taxes add up quickly. As Jeremiah Jones points out, a lot of states are starting to introduce a EV tax because well you're not buying gas which includes Road TX so they got to attack to somehow.

He uses a maximum deductible to keep premiums low. For upkeep, EVs shine. As Jeremiah Jones notes, you could totally put back as little as like $25 a month for this car for maintenance and be completely fine.

The biggest variable for your monthly budget is how you power the car. As Jeremiah Jones explains, I do literally all of my charging at home where I am on a special electricity rate plan that makes my kilowatt hour cost cheaper at night.

If you can't charge at home, the math changes drastically. As Jeremiah Jones notes, if you're buying a Tesla without home charging and you plan to just supercharge well you're not really going to save any money compared to gas.

Finally, compare your total monthly car costs against your income to ensure you aren't overextending yourself.

As Jeremiah Jones advises, the general rule of thumb is no more than 10% of your monthly income on your car if you're a big car person and absolutely love it you can push that up to 20%.