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Should I buy a new Tesla Model 3?

Hi,

I’ve been doing a lot of research into buying a car lately, specifically would love a Tesla Model 3 - Standard range plus. I’ve been looking at price from GB compared to Ireland and it’s around €5k cheaper (around £38k v €48k). I also understand I would be in receipt of €5,000 SEAI grant, but I cannot seem to calculate the VRT.

1. Can I buy in the UK and ultimately would I save money doing so vs Ireland?

2. I live in Dublin and I get the DART to work everyday (roughy €100 per month). I also currently drive home roughy three nights per week to Monaghan (roughly costs me €325 in petrol and tolls). I have a free parking space in work. (Quicker to drive than DART to work) Would I be naive in thinking that I would almost eradicate all of that €425 with an EV? Aside from electricity costs, also what would you estimate those to be?

The alternative for me was to buy an 15/16 Audi A5 or BMW 4 Series in around the €20k mark, but still be subject to aforementioned €425 monthly costs on top.

Am I trying to convince myself that a Model 3 is my best option or is it my best option? NB: I want something that I actually want, i.e. I don’t want a Nissan Leaf; if I’m going EV it would be Tesla or equivalent.

Brendan Traynor (Dublin)

Jul 2019 Filed under: choosing new car


Expert answer

Hi Brendan,

We do love a bit of car-related man-maths around the CompleteCar.ie office. Yes, in theory, you could save that €425 per week travelling cost with a Tesla Model 3, once we make a couple of assumptions, and bearing in mind that a Model 3 is not free — a basic Standard Range Plus model is quoted at €625 per month in repayments on Tesla’s Irish website. With a claimed one-charge range of 409km, your theoretical Model 3 should be able to get from Dublin to Monaghan and back in one charge, with a little left over for safety (assuming it’s around 135km door-to-door). If you can charge at home and charge in Monaghan, then each full charge will cost you around €8-10, depending on your electricity tariff and how low the battery gets before you plug it in. That should put a significant dent in your travelling costs. It would also be helpful if you could charge up at work, but that’s more for ensuring you have a full charge in case you need it — the shorter intra-Dublin commute wouldn’t put much strain on your battery.

So, that’s all good. Buying in the UK, though? Not worth it. We ran the maths on this a while back and working off the base model prices — £38,500 in the UK and €48,900 here, a quick conversion at today’s rates shows that the equivalent Euro price of a new Tesla Model 3 would be €45,069. A saving? No — although the VRT would cost you nothing at the point of import (thanks to the €5,000 rebate), you would have to pay VAT on entry, as it’s a new car, and so the price would go up by €10,350. You’re better off buying local in this instance.

The only other caveat is of reliability. Now, a Tesla Model 3 SHOULD  be more reliable overall than a conventional petrol or diesel car, and require less maintenance, simply because it’s so simple. After all, an electric motor is really just one, large, moving part. However, it’s worth bearing in mind that Tesla has a currently poor-to-middling reputation for build quality and reliability, so bear in mind that you might need to cope with some glitches or the rear bumper flying off if you drive too quickly through standing water (this is seriously a reported issue with the Model 3).
As for the ’trying to convince yourself’ bit? Well, to be honest we’re all rather keen on the Model 3 around here too, so we wouldn’t take much convincing. 

Neil Briscoe - Complete Car Advisor
@neilmbriscoe


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