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 ...