Tesla CyberTruck vs Ford F-150 Cost of Ownership

What is Cost of Ownership?

Cost of Ownership is a subject that some might argue is a more important parameter than the MSRP when purchasing a new car. This gives a fairly accurate estimate of the cost you’ll have to incur on buying a new car in the long term. In this article we’ll duke it out between the announced but yet to be released Tesla Cybertruck and the Best Selling 2021 Ford F-150. Both of these cars are priced at around $39k. To calculate the cost of ownership we’ll be using 100,000mi as the total distance travelled.
For the Cybertruck, we chose the base model which comes with a single motor, rear wheel drive only. It also comes with fancy features like adaptive air suspensions, Tesla’s Autopilot system and many more.
Price: $39,900 + Sales Tax @ 7%: $2,793
For the Ford F-150, we went with the appropriately priced  XLT SuperCab variant with a 6.5” bed and a 3.5L V6 EcoBoost Engine and Electronic Ten-Speed Automatic Transmission. It comes standard with their Co-Pilot360 2.0 system which is not as advanced as what Tesla is offering but still comes in handy. 
Price: $39,855 + Sales Tax @ 7%: $2,790

Fuel/Electricity Charges

Graph Depicting the cost to refuel/recharge the Cybertruck and Ford F-150
With all the information we got from Elon Musk during the launch of the Cybertruck, we can infer that the Cybertruck will cost about $4,800 USD. This is only if you’re only charging at home the entire time. The Ford F-150 however will charge you about $10,300 USD with the price of gas at 2.472/gallon.

Service and Maintenance

Graph Depicting the cost service and maintain  the Cybertruck and Ford F-150
The fuel price alone seems like a driving factor for why people would prefer buying the Tesla over the Ford. The maintenance fee feels like a cherry on top of an already attractive sundae. For starters, the pain of having to get the engine oil changed every few months is gone. Along with many of the quirks and issues of an internal combustion engine. That being said, the maintenance charges are a bit more on the pricey side. However, Tesla says that maintenance needs to be done once every 2 years and is not a necessity to keep your car under warranty. Another win for the Tesla Cybertruck.

Insurance

Graph Depicting the cost to insure the Cybertruck and Ford F-150
Insurance is a little tricky to talk about for the Cybertruck. The truck has not been released yet so there is no confirmed price for insurance. But we can make a rough estimate using the similarly priced Tesla Model 3 as reference. We have taken the cheapest insurance on the market for both cars to give you an idea. As you can see, the Tesla costs more than the Ford F-150 to insure. Even though Tesla has so many safety features built-in.

Total Cost of Ownership

Graph Depicting the total cost of ownership for the Cybertruck and F-150
The total cost of ownership for the Tesla Cybertruck is about $6k USD cheaper than the Ford F-150. Even though the MSRP of the Cybertruck is slightly more expensive. Added to the savings you make on fuel and maintenance, you also get tax credit for driving an all electric vehicle.

Depreciation Rates

Estimated Depreciation Rate for the Ford F-150
Estimated Depreciation Rate for the Tesla Cybertruck
As the graph shows, the Ford F-150 does hold its value slightly better than the Tesla, but then again this is a rough estimate of the depreciation rate for the Tesla based on the similarly priced Tesla Model 3 as the Cybertruck is yet to be released.

Image Credits:
Stacked Coins: Photo by Matthew Lancaster on Unsplash

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