DRIVING a Tesla is not only quieter and more environmentally friendly — it’s also a hell of a lot cheaper than running a petrol powered car.

I know because I drive one. And one thing’s for certain — I will never go back to driving a petrol car again.

At a time when petrol prices are at a four-year high, I now drive past petrol stations with a smile on my face. I’m now out of that cost spiral.

A Tesla even has a lower rate of depreciation and a higher re-sale value than similarly priced luxury vehicles.

Tesla has certainly caused waves in the motoring world — an ambitious start-up many in the highly competitive industry thought was doomed to failure.

But the company has prevailed and has a massive fanbase who are now customers.

Tesla has endeared itself to consumers who weren’t necessarily car people and now has a similar brand loyalty and love that’s enjoyed by companies like Apple.

And as a result of Tesla’s success, many of the world’s biggest car manufacturers have fast-tracked their plans to “electrify” their vehicles, including Jaguar and Volvo.

Among electric vehicle (EV) owners, fuel cars are referred to as ICE (internal combustion engine).

Before I bought my Tesla Model S 75D I was a Mercedes-Benz driver — I had four in a row before I decided to go electric.

RUNNING COSTS

The obvious saving for a Tesla driver is fuel. You don’t need it.

The only liquids you’ll pour into a Tesla are wiper and brake fluid.

The car I drove before my Tesla was a Mercedes-Benz E200 and I always chose premium unleaded fuel whenever I filled up.

On average I was spending about $250 a month on petrol — and that’s for someone who works from home and doesn’t do a regular commute.

My Tesla Model S has a 75kWh battery which I charge for free at one of Tesla’s growing network of Superchargers.

When I bought my Tesla, I used a referral code that gave me free Supercharging for the life of the vehicle.

There are also plenty of destination chargers at hotels, shopping centres and car parks which are free to use.

At home, I have a high-power wall charger and with my three-phase power can charge the car from zero to full in about four to five hours, which would happen overnight if needed.

I have solar panels and a SonnenFlat storage battery so this means it’s also free to charge at home as well.

For those charging their Tesla through their home’s regular power supply, you can do it overnight using off-peak electricity rates.

According to the Australian Bureau of Statistics we drive on average 15,000km a year which works out at 41km a day.

For a Tesla that’s about 7kWh of power per day.

With the average cost of electricity in Australia at 34.41 cents per kilowatt hour, that adds up to $2.40 per day or $879 per year.

AGL also has a plan that allows customers to charge their cars for $1 a day so it’s $365 for the year.

That’s a lot less than most drivers’ petrol bills. My annual fuel cost for my Mercedes Benz E200 was around $3000.

UPFRONT COST

My Tesla Model S was $140,000 on the road so in the same price range as an E-Class Mercedes-Benz E350.

One thing that energy efficient fuel vehicles enjoy is a higher luxury car tax threshold and it is 33 cents of every dollar above $75,526. With regular ICE vehicles, the luxury tax is calculated for every dollar above $66,331.

So with a Tesla you’re saving $3100 in luxury car tax.

SERVICING

A Tesla doesn’t need much servicing. Under the hood there are only 15 moving parts and no oil, no filters, no radiator and no spark plugs.

My Tesla’s silent electric motors are located on each axle which means there is even more room under the bonnet and in the boot as well as under the boot where you’d normally find a fuel tank.

Tesla offers a three-year maintenance plan for $2100 which works out at $700 a year.

A Tesla service is only necessary annually and mainly focuses on the car’s brakes and tyres, wheel alignment, wiper blade replacement and replacing the key fob’s battery.

My experience with my annual service with my E200 Mercedes-Benz was usually well over $1000 and was more than $3000 when I had to replace all my brakes pads after three years.

Just on brake pads, they will last a lot longer on a Tesla thanks to regenerative braking. When a Tesla driver takes their foot off the accelerator the car slows down dramatically because the electric motors are thrown into reverse and added charge is directed back into the battery.

I can often drive without having to touch the brake which saves the brakes pads significantly.

Tesla says a set of brake pads will last for up to 160,000km — that’s many years of driving.

INSURANCE

One area where you might get slugged as a Tesla driver is with your comprehensive car insurance.

The Tesla, because of its instant acceleration (my Model S 75D can go 0-100km/h in 4.4 seconds, a P100D in 2.7 seconds) it is classed as a high-performance vehicle and my initial insurance quotes were more than $5000 annually.

But in the end Tesla steered me towards InsureMyTesla — underwritten by insurance brokers Marsh Advantage Insurance — which understood the vehicle and its particular requirements.

I decided on going with InsureMyTesla because it was less than half the price of the most expensive quotes from other companies.

DEPRECIATION AND RESALE VALUE

According to Redbook, the total depreciation of a 2018 Tesla Model S 75D ($130,482) after three years is $52,193. For a Mercedes-Benz E350 ($134,902) depreciation over the same period is $78,244.

Over a three-year period, a Tesla Model S will be $28,711 cheaper to run than the similarly priced Mercedes-Benz E350 when considering running costs like electricity/fuel, depreciation, servicing and tyres.

Redbook says a trade-in price for the Tesla Model S 75D after three years and with 50,000km on the clock is $78,289 while the Mercedes-Benz would be $56,658.

Stephen Fenech is the editor of TechGuide.com.au