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But even the upper class can still make financially sound decisions.
For some, that means purchasing a Tesla.
Here are some key reasons why people regardless of class decide to purchase Teslas.
One such area is maintenance and repairs.
EVs have fewer moving parts.
Teslas generally require less frequent and less expensive servicing than ICE vehicles.
Most vehicles, ICEs and EVs included, have higher maintenance costs the longer theyre on the road.
Cheaper To Drive
Lower maintenance costs are only part of the bigger picture.
For them and thetypical middle-class consumer, Teslas are a sound purchase because theyre simply cheaper to drive.
This can result in lower fuel costs, typically around 40% of gas rates.
Power, the average American spends between $150 and $200 on gas each month.
Households tend to spend closer to $5,000 on gas each year.
For those looking at long-term costs and savings potential, this is often worth doing.
Slower Depreciation
Depreciation is the rate at which something, like a car, loses its value.
Standard gas-powered cars can lose their value at different rates.
This does depend on the model, as well as the condition, of the vehicle.
It also depends on consumer demand for that vehicle.
Some studies have found that Teslas depreciate more rapidly than ICEs it all just depends.
Tax Benefits
Last but not least are the tax benefits, said Vardi.
This includes federal and, in some cases, state incentives.
Is a Tesla Worth It For You?
If you consider yourself middle class, you could benefit from thesame financial benefitsthe affluent do.
This includes lower maintenance and gas costs, greater incentives and possibly slower depreciation.
Review your budget and household needs, though.
One thing that the rich often dont do is take out a loan to get a car.
If you plan to pay in cash, however, Teslas could be a viable purchase.
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