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Tesla Model 3 vs. Honda Accord — 7 Scenarios

Tesla Model 3 vs. Honda Accord — 7 Scenarios

Automobiles

Revealed on April 25th, 2019 |
by Zachary Shahan

April 25th, 2019 by Zachary Shahan 


Reporting on the Tesla Model 3 is weird. It’s a automotive that may smoke a BMW M3 on the monitor yet is value competitive — or even cheaper than — a Toyota Camry or Honda Accord (critically).

It virtually doesn’t make sense to the mind. How can a automotive that’s so a lot better than a Camry or Accord value much less over a couple of years? How can a automotive that’s objectively higher than a BMW 3 Collection value less than a traditional, non-premium sedan?

That stated, my earlier value comparisons of the Tesla Model 3 to the Camry, Accord, Altima, and so forth., have been fairly simple. I pulled Edmunds knowledge for the non-Tesla models and put in some primary assumptions for the Model 3. After publishing some of these comparisons, seeing the feedback, and studying other complete value of possession (TCO) articles, I figured it will be useful for individuals if I did some more nuanced comparisons. That’s what we’ve acquired right here, kicking off with 7 comparisons of the Tesla Model 3 versus the Honda Accord.

One thing I needed to start out making an allowance for more was resale worth. Resale value might be probably the most influential think about a price comparability, however it’s additionally a troublesome factor to forecast. Fortunately, I not should base such an essential assumption alone thoughts. Kelley Blue Ebook, long the #1 useful resource for this matter in the US, has revealed 5 yr resale worth estimates for the Tesla Model 3 and the Honda Accord.

I additionally needed to do 10 yr comparisons, but the resale values of these automobiles after 10 years is a total wild card. I anticipate the Model 3 will maintain up a lot better (for several reasons), but I don’t have any very objective evidence of that and in addition don’t have a crystal ball. Model 3 operational savings also needs to add up increasingly more over time, however, once more, the Model 3 hasn’t been on the earth lengthy sufficient to show that. So, while I made a decision to not do 10 yr possession comparisons, I consider the Model 3 will look even better underneath such a timeframe in all situations.

For this evaluation, I compared the Model 3 Commonplace Vary Plus (SR+) to 4 versions of the Honda Accord. For three of those versions, I did low-mileage and high-mileage comparisons (10,00zero miles/yr and 17,00zero miles/yr, respectively). For the final comparison, with the Honda Accord Sport 2.0T 10-Velocity Automated, I merely determined to make use of the US average (13,500 miles/yr).

In all situations, commonplace assumptions have been a $2.50 common worth of fuel, a $0.10 common worth of electrical energy for charging, a four.24 miles/kWh effectivity for the Model 3, use of the $3,750 US federal tax credit score for the Model 3, no upkeep prices (which most certainly advantages the Accord), and as famous above, Kelley Blue Guide estimates for 60-month resale values. For the Model 3, the default black paint and black interior have been chosen. Altering colors will add $1,000 or extra — however any such modifications in all probability simply equal out Model 3 maintenance value advantages. In any case, you’re free to grab my sheet for these calculations and change assumptions as you see fit — everybody’s life is unique.

The underside-line result’s that the Model 3 is cheaper in every state of affairs, and less expensive in a number of situations, despite being a a lot safer, quicker, more tech-advanced, more prestigious automotive.

It’s really surprising. The Tesla Model 3 is past competitive with one of the USA’s and world’s prime selling automobiles, the long-lasting Honda Accord.

Tesla Model 3 SR+ vs. Honda Accord EX-L Hybrid E-CVT

10,000 Miles/Yr, 5 Years

Tesla Model 3 SR+ = $17,693
Honda Accord EX-L Hybrid E-CVT = $22,687

ModelTesla Model 3Honda Accord EX-L Hybrid E-CVT
Buy Worth$39,500$31,720
5 Yr Resale Value (by way of KBB)$19,236.50$12,117.04
Cash Value after Resale$20,263.50$19,602.96
Incentives-$3,750.00$0.00
Cash Value after Incentives & Resale$16,513.50$19,602.96
Worth of Fuel$2.50$2.50
Average Worth of Electrical energy for Automotive$0.10
Common Miles Per Yr10,00zero10,000
Upkeep Prices Per Mile
Upkeep Prices Per Yr$0.00$zero.00
Miles/kWh or MPGfour.2448
Average Gallons of Fuel Per Yr (Miles/MPG)208.33
Common kWh of Electrical energy Per Yr for Automotive (Miles/four.24)2,358.49
Common Value of Gasoline Per Yr$235.85$520.83
5 Yr Complete Value of Possession$17,693$22,687

Tesla Model 3 SR+ vs. Honda Accord EX-L Hybrid E-CVT

17,00zero Miles/Yr, 5 Years

Tesla Model 3 SR+ = $18,518
Honda Accord EX Hybrid E-CVT = $24,510

ModelTesla Model 3Honda Accord EX-L Hybrid E-CVTPurchase Worth$39,500$31,7205 Yr Resale Worth (by way of KBB)$19,236.50$12,117.04Cash Value after Resale$20,263.50$19,602.96Incentives-$3,750.00$0.00Cash Value after Incentives & Resale$16,513.50$19,602.96Worth of Fuel$2.50$2.50Average Worth of Electrical energy for Automotive$zero.10Average Miles Per Yr17,00zero17,00zeroUpkeep Prices Per MileMaintenance Costs Per Yr$0.00$zero.00Miles/kWh or MPG4.2448Average Gallons of Fuel Per Yr (Miles/MPG)354.17Common kWh of Electrical energy Per Yr for Automotive (Miles/four.24)four,009.43Average Value of Gasoline Per Yr$400.94$885.425 Yr Complete Value of Ownership$18,518$24,510

Tesla Model 3 SR+ vs. Honda Accord EX Hybrid E-CVT

10,00zero Miles/Yr, 5 Years

Tesla Model 3 SR+ = $17,693
Honda Accord EX Hybrid E-CVT = $21,142

ModelTesla Model 3Honda Accord EX Hybrid E-CVTBuy Worth$39,500$29,2205 Yr Resale Value (by way of KBB)$19,236.50$11,162.04Money Value after Resale$20,263.50$18,057.96Incentives-$3,750.00$0.00Money Value after Incentives & Resale$16,513.50$18,057.96Worth of Fuel$2.50$2.50Common Worth of Electrical energy for Automotive$zero.10Average miles Per Yr10,00010,00zeroUpkeep Costs Per mileUpkeep Prices Per Yr$zero.00$0.00Miles/kWh or MPGfour.2448Average Gallons of Fuel Per Yr (Miles/MPG)208.33Average kWh of Electrical energy Per Yr for Automotive (Miles/(four.24)2,358.49Common Value of Gasoline Per Yr$235.85$520.835 Yr Complete Value of Ownership$17,693$21,142

Tesla Model 3 SR+ vs. Honda Accord EX Hybrid E-CVT

17,00zero Miles/Yr, 5 Years

Tesla Model 3 SR+ = $18,518
Honda Accord EX Hybrid E-CVT = $23,514

ModelTesla Model 3Honda Accord EX Hybrid E-CVT
Purchase Worth$39,500$29,220
5 Yr Resale Value (by way of KBB)$19,236.50$11,162.04
Cash Value after Resale$20,263.50$18,057.96
Incentives-$3,750.00$0.00
Money Value after Incentives & Resale$16,513.50$18,057.96
Worth of Fuel$2.50$2.50
Common Worth of Electricity for Automotive$zero.10
Common Miles Per Yr17,00zero17,000
Maintenance Costs Per Mile
Upkeep Costs Per Yr$zero.00$0.00
Miles/kWh or MPG4.2448
Common Gallons of Fuel Per Yr (Miles/MPG)354.17
Common kWh of Electricity Per Yr for Automotive (Miles/four.24)four,009.43
Common Value of Gasoline Per Yr$400.94$885.42
5 Yr Complete Value of Ownership$18,518$22,965

Tesla Model 3 SR+ vs. Honda Accord Sport CVT

10,00zero Miles/Yr, 5 Years

Tesla Model 3 SR+ = $17,693
Honda Accord EX Hybrid E-CVT = $20,691

ModelTesla Model 3Honda Accord Sport CVTPurchase Worth$39,500$26,1805 Yr Resale Worth (by way of KBB)$19,236.50$10,00zero.76Cash Value after Resale$20,263.50$16,179.24Incentives-$3,750.00$zero.00Money Value after Incentives & Resale$16,513.50$16,179.24Worth of Fuel$2.50$2.50Average Worth of Electrical energy for Automotive$0.10Common Miles Per Yr10,00zero10,00zeroUpkeep Costs Per MileMaintenance Costs Per Yr$zero.00$0.00Miles/kWh or MPG4.2431Average Gallons of Fuel Per Yr (Miles/MPG)322.58Average kWh of Electrical energy Per Yr for Automotive (Miles/four.24)2,358.49Average Value of Gasoline Per Yr$235.85$806.455 Yr Complete Value of Possession$17,693$20,691

Tesla Model 3 SR+ vs. Honda Accord Sport CVT

17,000 Miles/Yr, 5 Years

Tesla Model 3 SR+ = $18,518
Honda Accord EX Hybrid E-CVT = $23,514

ModelTesla Model 3Honda Accord Sport CVT
Purchase Worth$39,500$26,180
5 Yr Resale Value (by way of KBB)$19,236.50$10,000.76
Cash Value after Resale$20,263.50$16,179.24
Incentives-$3,750.00$zero.00
Cash Value after Incentives & Resale$16,513.50$16,179.24
Worth of Fuel$2.50$2.50
Average Worth of Electricity for Automotive$0.10
Common Miles Per Yr17,00zero17,00zero
Upkeep Costs Per Mile
Upkeep Prices Per Yr$0.00$zero.00
Miles/kWh or MPGfour.2431
Average Gallons of Fuel Per Yr (Miles/MPG)548.39
Common kWh of Electricity Per Yr for Automotive (Miles/4.24)four,009.43
Average Value of Gasoline Per Yr$400.94$1,370.97
5 Yr Complete Value of Possession$18,518$23,514

Tesla Model 3 SR+ vs. Honda Accord Sport 2.0T 10-Velocity Automated

13,500 Miles/Yr, 5 Years

Tesla Model 3 SR+ = $18,105
Honda Accord EX Hybrid E-CVT = $23,150

ModelTesla Model 3

Honda Accord Sport 2.0T 10-Velocity Automated

Buy Worth$39,500$26,180
5 Yr Resale Worth (by way of KBB)$19,236.50$10,000.76
Money Value after Resale$20,263.50$16,179.24
Incentives-$3,750.00$zero.00
Cash Value after Incentives & Resale$16,513.50$16,179.24
Worth of Fuel$2.50$2.50
Average Worth of Electrical energy for Automotive$0.10
Average Miles Per Yr13,50013,500
Upkeep Prices Per Mile
Maintenance Prices Per Yr$zero.00$0.00
Miles/kWh or MPG4.2426
Common Gallons of Fuel Per Yr (Miles/MPG)519.23
Common kWh of Electrical energy Per Yr for Automotive (Miles/four.24)3,183.96
Common Value of Gasoline Per Yr$318.40$1,298.08
5 Yr Complete Value of Possession$18,105$23,150

Taking a look at these comparisons, which might you choose?

Thinking about shopping for a Tesla Model 3, Model S, or Model X? Want a referral code to get 1,000 miles of free Supercharging? Use ours: http://ts.la/tomasz7234 (or not).

 
 

 

Tags: EV costs, Honda, Honda Accord, Honda Accord EX Hybrid E-CVT, Honda Accord EX-L Hybrid E-CVT, Honda Accord Sport 2.0T 10-Velocity Automated, Honda Accord Sport CVT, Tesla, Tesla Model 3, Tesla Model 3 value, Tesla Model 3 worth, Tesla Model 3 Commonplace, Tesla Model 3 Commonplace Plus, Tesla Model 3 Commonplace Range, Tesla Model 3 Normal Vary Plus, Tesla Model 3 complete value of ownership, Tesla Model 3 vs Honda Accord


Concerning the Writer

Zachary Shahan Zach is tryin’ to assist society assist itself (and other species). He spends most of his time here on CleanTechnica as its director and chief editor. He’s additionally the president of Essential Media and the director/founder of EV Obsession and Photo voltaic Love. Zach is recognized globally as an electric car, photo voltaic power, and power storage professional. He has introduced about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, and Canada.

Zach has long-term investments in TSLA, FSLR, SPWR, SEDG, & ABB — after years of overlaying solar and EVs, he merely has lots of faith in these specific corporations and seems like they’re good cleantech corporations to spend money on. But he gives no skilled investment recommendation and would slightly not be answerable for you dropping money, so don’t bounce to conclusions.



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