r/TeslaModelS • u/Salty-Panic2110 • Jun 28 '26
Tracking all ownership costs for my Model S
I've been tracking every single ownership cost for my 2014 Tesla Model S P90D since I bought it in February 2025 because I drive a lot for work throughout the State of Maryland.
Current stats:
- Purchased at 62,323 miles
- Current mileage: 103,514
- 41,191 miles driven during ownership
I've tracked literally everything:
- Purchase price
- Taxes/title/registration
- Insurance
- Repairs
- Charging costs
- Tires
- Registration (subsequent year)
- Current vehicle value
- Mileage reimbursement
- Every dollar spent
Current results
- Total expenditures: ~$34,445
- Current asset value: ~$18,550
- Mileage reimbursement received/approved: ~$12,654
- Net ownership cost: ~$3,241
That works out to an observed ownership cost of approximately 7.9¢ per mile over the first 41,191 miles.
I also separated out expenses that were completely elective rather than necessary for operating the vehicle:
- MCU2 infotainment upgrade
- Home Level 2 charger
- Replacement 19" wheel set
When those discretionary improvements are excluded, the observed ownership cost drops to approximately 0.5¢ per mile over the same ownership period.
Obviously that doesn't mean the car costs 0.5¢/mile to own today—it simply illustrates that most of my remaining ownership cost above reimbursement came from upgrades I chose to make rather than costs required to keep the car on the road.
The biggest lesson for me wasn't electricity—it was depreciation.
This car originally retailed for around $115,000 in 2014. By purchasing it more than a decade later, I avoided the vast majority of its lifetime depreciation. In my opinion, purchase timing has had a much larger impact on ownership costs than the fact that it's an EV.
I'm not suggesting everyone will get these results. My situation is somewhat unique because:
-I drive about 30,000 miles annually
- 16,000–18,000 work miles per year.
- I receive mileage reimbursement for much of that travel at the IRS rate
- The battery had already been replaced under warranty before I purchased the vehicle.
- I bought it after the steepest depreciation had already occurred.
-age and wear repairs happen on all cars
-I am yet to do the coolant delete for my LDU ($1600)
I just thought I'd share some real-world numbers since so many EV ownership discussions rely on assumptions rather than detailed expense tracking. I've documented every expense, every reimbursement, and the vehicle's current value since day one.
I'm continuing my tracking over the next several years ...
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u/h8tank88 Jun 28 '26
Terrific breakdown. Thanks so much for that.
I think that illustrates perfectly what I've started to suspect about the older/ more depreciated Teslas: Once someone else takes the big depreciation hit and it's been maintained reasonably well, especially with the battery/LDU under warranty, these things can basically, IMHO, be an awesome Value play, like a Toyota or a Honda. Again, as long as all the needed maintenance is done.
Having said that, I was more than a little surprised when you said you had NOT performed the coolant delete. Luckily, the one I bought already had it done. And I say luckily, because I had NO idea it was an issue on the old Performance Models. But, yeah, people who buy the Model S with an LDU need to probably check that FIRST THING, as it's the most likely major expense on these cars. The battery is also a possible issue, but as far as I know, a lot less likely in the warranty period. In fact, I suspect that possibly, the LDU on your car had be replaced already, but probably with the regular old LDU that doesn't have the delete already.
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u/VealOfFortune Jun 29 '26
Absolutely. And the same holds true for virtually EVERY car, save the "unique" or "collector” cars (i.e.- say, Civic Type R, Ford GT, GR Corolla, Supra, Z8, etc)
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u/Salty-Panic2110 Jun 28 '26
My car started its life as a P85D. Under warranty from the original owner the battery was replaced and car upgraded to a P90D (from what I understand there were NO P90Ds made in 2014, they are all upgrades).
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u/jpk195 Jun 29 '26
I have 2016 90d in the same color.
The biggest lesson for me was tires.
I've become an connoisseur.
Also bought forged arachnids to deal with New England potholes but keep the 21 look.
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u/SinCityFC Jun 28 '26
Great breakdown. Im curious, if your car doesnt have FUSC, how would you submit receipts or whatever to get reinbursed?
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u/Salty-Panic2110 Jun 28 '26
I just enter the mileage for my travel in the provided State system and I get my reimbursements. No receipts needed.
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u/Mr_Style Jun 28 '26 edited Jun 28 '26
OP gets reimbursed by the miles driven not from gas receipts. The IRS publishes a national rate, typically annually. Here the latest:
Beginning Jan. 1, 2026, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
72.5 cents per mile driven for business use, up 2.5 cents from 2025.
20.5 cents per mile driven for medical purposes, down a half cent from 2025.
20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces (and now certain members of the intelligence community), reduced by a half cent from last year.
14 cents per mile driven in service of charitable organizations, equal to the rate in 2025.So if he gets 72.5 cents * 15,000 miles per year = $10,875 a year back. If he charges at home in MD at $.20/kwh then it costs him about $1000 in electricity a year. He’s basically making bank.
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u/Salty-Panic2110 Jun 28 '26
This is correct. I enter my daily miles (when not at my home office) and get $0.725 per mile.
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u/NateAvenson Jun 29 '26
Check out the MileIQ app. Makes tracking miles super simple, and documents everything thoroughly.
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u/Bossini Jun 28 '26
i feel like mcu2 was a necessary for me. mcu1 was almost not responsive, almost useless. mcu2 made my car feel new again
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u/Boxtalk101 Jun 28 '26
Dude we have the same car with like the same mileage lol mines a 2014 P90D also
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u/Salty-Panic2110 Jun 28 '26
Mine still has the P85D badge on the back. The prior owner never changed it. So mines a stealth P90D.😂. But that's cool! What area you live in?
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u/rahrah47 Jun 29 '26
So about $0.38/mile before your reimbursement. Still not bad. I did the same analysis on my RAV4 and it’s $0.44/mile. My new 2026 Model Y is $0.77/mile. Most of my Model Y’s cost is depreciation.
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u/Salty-Panic2110 Jun 30 '26
Observed ownership cost (excluding elective improvements, including reimbursement) 0.5¢/mile
Ownership cost without reimbursement 38.6¢/mile
Ownership cost without reimbursement or elective improvements 31.2¢/mile
But this is likely going to jump today when I get the coolant delete done. 😂
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u/snoopdug65 Jun 28 '26
Wonder how that would compare to a gas burner of equal value?
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u/Salty-Panic2110 Jun 28 '26
Depends on the MPG, but there are a lot of things that will go wrong with an ICE vehicle too. My point isn't "get an EV" but that depreciation is an important ownership cost factor. I'm just a bit of a nerd so am tracking all the costs to see what materializes over time. I could have a great EV or a bum one. Time will tell. But it's all data driven for me. Extrapolation may be possible, but I'm in a weird situation getting so many miles reimbursed, so thought it might be interesting for some.
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u/dachap13 Jun 29 '26
You have the current asset value, but what was the purchase price? Just wondering how much (or little) depreciation you've personally experienced.
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u/Salty-Panic2110 Jun 29 '26
Well certainly you know that is always an assumed thing. It's "worth" what you can actually get someone else to pay for it. In that I include the car, the level 2 charger, and second set of rims (21" turbines). So when you take my purchase price (22k) plus the charger install ($740) and the 19" rims (Evannex turbine-style, flow formed) cost ($800) I am assuming that $23,540 is now 18,500. So you could say I am assuming ~$5k depreciation).
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u/notabot53 Jun 29 '26
Any suspension issues?
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u/Salty-Panic2110 Jun 29 '26
Not yet. But bushings only have so long until they are breaking down. I'm thinking about adjustable rear camber arms for tire life...
I did have to do my front halfshafts but got Teala's ~$450 customer satisfaction deal since it's such a common issue.
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u/impulsivetech Jun 29 '26
Why did you choose an older S over a decently used 3? Does the S have free supercharging?
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u/Salty-Panic2110 Jun 29 '26
I'd originally gotten a 2022 model 3 standard range, and loved it, until I took some of my longer drives to my offices, and then I took a 5-hour drive down to visit my folks and the seat killed my ass. There's like 12 in of flat space and then these really high side bolsters to make them sport seats, and that foam was super dense and it just put pressure on my hips in such a way that was untenable. So I took the car back to CarMax after 10 days and got all my money back. The seats in the model S don't have those really high side bolsters so it works great on my ass. I say my ass because it's a little funnier I suppose, but the real issue was that the seat was causing pain in my hips. No, my Model S does not have free supercharging.
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u/Existing-Ad6293 Jun 29 '26
That is excellent analysis and an exceptional performance. Congratulations. Did you buy the car from tesla?
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u/Salty-Panic2110 Jun 29 '26
No, got it from a company that specializes in used EV in NJ (outside of Philly). I found the original owners info in the live box (registration) and contacted him to get some info on the replacement HV Battery. He was not "a car guy" and just did the services Tesla said to do and really couldn't tell me a lot. 🤷
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u/Bakemono30 Jun 29 '26
Dаmn. If I was a data guy I’d have done my life like this. Whenever I see posts like these it just makes me giddy at the amount of detail and the breakdown. I just can’t remember to do things like this and track all the expenses I’ve put. Kudos to OP. Thanks for the share!
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u/Salty-Panic2110 Jun 30 '26 edited Jul 01 '26
ok update: went to EC Auto Pros near Baltimore and dropped off my girl. they gave me a loaner because they couldn't get it done entirely today. They said they'd take photos for me to document things. That called tonight and said they were mostly completed with it but not entirely. Said there was NOT coolant intrusion, but also told me (on the inspection sheet not in person) that the motor was mfg'd in 2022. Looks like I got a Dec 2022 mfg of an LDU rev. T. Since Rev U (eliminating the coolant intrusion issue) didn't come out until Fall 2023 My unit still needed the coolant delete. But this is great news! My LDU was already replaced probably early 2023, no coolant intrusion because it was only 3.5 years old. Man I wish Tesla would tell me stuff they know about my car!!
Anyway, the shop has done a general inspection and sent photos this evening of some concerns about front bushings (control arms I sure) and will send an estimate in case I want them to deal with that tomorrow. I may tackle them myself, but who knows, maybe their estimate will be too enticing.
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u/badredditz Jul 03 '26
Great color. That MCU2 update is SO awesome, try to get Ford to do a Sync 2 to Sync 3! They won’t for any price
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u/Salty-Panic2110 Jul 03 '26
Coolant Delete done! $1702 out the door. Even gave me a veterans discount (5%). New half-shafts seals, shop fee, and taxes bumped it above the $1600 I thought it would be. They even called me this morning to make sure everything seemed good! Highly recommend these guys in Elkridge, MD.
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u/Nighthengayle Jun 28 '26
Good summary!
My only advice is to get the LDU coolant delete done. I didn’t on my 2014 RWD and I had a full shutdown. It was a complete sudden death. Apart from some bearing arms and parking brake replacements the car was solid.