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Owning a Used Tesla - 2 Year Cost Breakdown - YouTube
Channel: Ben Sullins
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well it's been two years since I got my
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used Tesla Model S obviously it's
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changed my life I created this channel
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it's affected my family in ways that I
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couldn't even have imagined and I'm here
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to do what I did when I first got it
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which was to break down the cost what
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we're gonna look at is all the different
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costs involved and the true cost of
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ownership of a Tesla Model S this is a
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used 2013 60 kilowatt hour battery after
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two years of ownership let's go first
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let's take a look at the loan and I'm
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paying this off in three years with a
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1.5 percent interest rate which means
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that the first year it was about
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fourteen thousand to one hundred twenty
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four dollars and that was the same the
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second year the only real difference is
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the interest that I'm paying is a bit
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less now because I'm paying off more of
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the principal this gives me a total for
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the payments after two years of twenty
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eight thousand two hundred and forty
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nine dollars which is a lot but know
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that this would be the same if you chose
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any other car of the similar price now
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let's break that down a little bit
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further because I think it's important
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to talk about depreciation this is one
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of the biggest often the biggest costs
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of owning a car and it's hard to
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calculate exactly and of course my data
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my example here is just one anecdote
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it's not representative of the whole and
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so there are a lot of things to consider
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but I do have some decent numbers for
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you let's start off with the first one
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my purchase price which was fifty four
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thousand four hundred dollars I paid
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four thousand of cash and then I
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financed fifty thousand of it which is
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why I have the loan and actually just
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got a quote from Tesla for trading in my
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Model S of thirty six thousand three
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hundred dollars now that may not sound
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like that bad but after you do the math
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on that that's over eighteen thousand
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dollars of value that has been lost
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which is thirty three percent drop
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now remind you this is after it was
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already used for three years so these
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are the like last two years in the first
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five years now that is a big chunk to
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lose and I think it is due to how
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quickly the cars are advancing and some
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of the newer ones that have newer
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hardware and basically continue to get
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better with over-the-air updates those
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seem to be fine when I check at the
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prices online for those but
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because it's older and I'm missing
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autopilot hardware and things like
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foldable mirrors all these other
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features that you really can't add on
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without a huge expense those seem to be
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a big difference maker so if you're
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looking to buy a used Model S just know
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that if the depreciation is gonna be
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pretty bad on it especially if you don't
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have any of the newer features like
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autopilot or you know the new front
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fascia or anything like that this brings
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us to insurance and here we have
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essentially what I've been getting over
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the past two years but there are changes
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to that out there so if you're
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interested in this the prices definitely
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will vary and I have a lot of discounts
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because I have multiple cars I have life
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insurance and I have my house all on the
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same plan it comes out to just over a
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hundred bucks a month in the first year
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it was twelve hundred twenty-six dollars
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in the second year eleven hundred sixty
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one dollars so really not that bad I
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don't think coming out to a total of
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twenty three hundred eighty seven
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dollars for two years this brings us to
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charging and this is a big difference
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where the Tesla really wins out compared
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to a normal gasoline-powered car now I
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paid just over eleven hundred dollars
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over the past two years and I drove over
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eighteen thousand miles just pretty good
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but a big reason that my cost is so good
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here is because in March I got solar so
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prior to that I was actually paying
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quite a bit north of $70 a month in fuel
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charges just for my Tesla Model S but
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then when I got solar I basically broke
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down that cost over the 25-year lifespan
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and looked at how much it would cost me
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to pay for my Tesla energy each month
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now the Tesla heats about 45% of my
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monthly electricity bills so that's a
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lot and that comes out to just about
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twenty-six dollars a month in fuel or
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energy for my Tesla Model S that's 26
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bucks a month compared to what I would
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be paying for a gas car which is a lot
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higher when I add that up across two
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years what we're looking at here is a
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substantial savings in fact it's over a
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thousand dollars of savings and so if
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you were to think about that I would be
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paying over two thousand dollars in fuel
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for the amount that I drove and the gas
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prices I have here in San Diego and I
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have details on all this in a link in
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the description down below which is
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about
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50% savings forty nine point three four
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percent difference so think about that
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for your situation if you drive a lot
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the numbers here the dollar figures
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could add up to be much higher than this
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I don't drive that much and that's why
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the dollar figures aren't that big
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but with solar I've been able to
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actually save on a percentage basis a
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ton over what I would be paying if I had
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a regular gasoline car now one of the
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things that me and a lot of the other
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folks that have Tesla's and Evie is in
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general talk about is the lower cost of
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maintenance and repairs and that bears
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fruit and it seems to be true with my
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data as well now the first year I really
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didn't have any there were a couple
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repairs if you recall if you guys have
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been with me this whole time and they
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were all covered by Tesla well the
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second year I actually paid for some
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stuff and first and foremost I paid for
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some tires
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I had one tire with a rim that had to be
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replaced and then I had another incident
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where two tires were bad so I just
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replaced all of them so my total for the
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two year span for tires was thirteen
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hundred twenty seven dollars which
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really would be pretty standard on any
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higher end vehicle and these tires
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aren't that cheap so there's that now I
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did pay for the two-year service here
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which was seven hundred and twenty five
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dollars so this is where I actually paid
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for some kind of service and there was a
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lot that they went through if you guys
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are interested I can put all the details
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of that in the description and on the
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website now this brings us to a total of
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just over two thousand dollars across
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two years which may sound like a lot if
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you own say a Honda or Toyota and you
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don't really do much but if you own a
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BMW or Mercedes you know that that's
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actually not that bad considering how
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expensive oil changes are and if you
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have any parts that need to be replaced
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how expensive that can be so I think
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this is a pretty good price for the main
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and some repairs on this and again that
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two-year service I didn't really have to
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do so that's a big chunk of it right
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there tires were the only thing that I I
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to really come out of pocket for all
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right so let's add it all up and see
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what I've been paying here starting out
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we have depreciation of eighteen
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thousand one hundred dollars then we
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have insurance nearly twenty four
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hundred dollars maintenance from repairs
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just over two thousand and charging just
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over eleven hundred dollars giving us a
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total true cost of ownership for my
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situation here my one data
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point of 23,000 $659 I'm curious what
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you guys think do you have a higher end
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sedan like BMW 5-series or a
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mercedes-benz s-class or an Audi one of
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these cars that are kind of in the same
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category as in Tesla Model S if so I'm
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curious what you think of these numbers
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this is really high is it low and if you
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don't have one of those cars this may
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seem insanely expensive to you but
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really when you compare apples to apples
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I think you'll find that it's a much
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better deal for your money and there you
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have it so thanks for watching I hope
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you guys enjoyed this if you're new here
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consider subscribing if you like data
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and analysis and Tesla in advanced tech
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and things related to Tesla that's what
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we do and it's free so you know what do
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you have to lose
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last thing remember when you free the
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data your mod will follow thanks for
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watching and I'll see you back here next
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time
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