I Calculated Every Penny for 50,000 Miles, My Tesla Model 3 Costs 15 Cents Per Mile, My Chevy Bolt Costs More, But My Old Toyota Is Still Winning

Are EVs truly a cost-saving revolution? Or are they just fancy gadgets with a hidden price tag? 

One Reddit user, armed with spreadsheets, has taken it upon himself to track the cost per mile of his Tesla Model 3 and Chevy Bolt against his trusty, old-school Toyota Corolla.

 The results are surprisingly counterintuitive, shattering some common EV myths and revealing a few hard truths about the cost of owning an electric car. 

50,000-Mile Cost Breakdown of Tesla Model 3 vs. Chevy Bolt vs. Toyota Corolla

Erv, shared some insights and data on r/electricvehicles after driving 50,000 miles across a Tesla Model 3 and Chevy Bolt EUV. The kicker? His old Toyota Corolla still beats them both in one crucial metric.

“I have a separate meter for my 2023 Tesla Model 3 RWD that I use to track energy use, efficiency, cost (and cost-savings), etc., and compare back to very detailed data I kept on my previous ICE car. 

Given I’ve now driven >30,000 miles, it felt like a good time to share the data, and because I had it, I also shared comparisons to the Bolt EUV. 

*I benchmarked the fuel costs against my prior car, a Toyota Corolla, which got 33.17 mpg over the 100,000+ miles I tracked it, and I also benchmarked against current gas prices, which in my area have been roughly $3/gallon, but I am using nuanced monthly averages for my state. I also bake in a $30 oil change per 5,000 miles as “fuel”. 

**I also calculated the portion of my savings that is due to taxes I’m not paying at the pump (0.285+0.184 per gallon) – which is relevant politically given we can expect a $250/year EV surcharge to attempt to “close that loophole”, which for me, looks to be “fair” if it were state + federal, but just being federal and combined with my state’s surcharge ($75), it is not. 

I have insurance, tabs, depreciation, maintenance, as well but wanted to focus on “fuel”. Those costs are all higher than the Corolla due to the Tesla (and Bolt) being much newer cars (and fully insured instead of minimally insured), and the heightened costs do offset the fuel savings for now. I’ll be curious to see over 100,000+ miles how the total cost to own tightens u,p and I expect the Tesla to win out.

Currently, depreciation/any cost of the vehicle, the Tesla is already winning at 15c/mile vs. the Corolla’s 16c/mile due to the cheaper maintenance and fuel despite the higher insurance and tabs. But taking into account depreciation changes, that comparison to $0.34 vs. $0.20 in favor of the Corolla, for now. Which is a price I’m comfortable paying for enhanced safety, comfort, etc.

EFFICIENCY

Because it’s always interesting to discuss – this is my “efficiency” based on the electricity I am actually paying for, so it includes losses (and I am adding in charging away from home, but that’s been extremely minimal). The Tesla itself reports a different number: 239 Mi/kWh (vs 296), which is partially due to losses and partially due to the car not reporting preconditioning.  Similarly, the Tesla app says 8,771 kWh charged vs. I have logged 9,028 (a 3% variance), which tells me the 20% variance on Mi/kWh is primarily preconditioning and not charging losses, which is surprising given I do not precondition very frequently and I do not use Sentry. I charge L2.“

Tesla Model 3 vs. Chevy Bolt EUV: Performance, Range, and Space Comparison

• The Tesla Model 3 offers a dual-motor all-wheel-drive system producing 460 horsepower, achieving 0–60 mph in 2.9 seconds, with an EPA-estimated range of up to 342 miles. In contrast, the Chevrolet Bolt EUV features a single front-mounted motor delivering 200 horsepower, reaching 0–60 mph in approximately 7 seconds, and provides an EPA-estimated range of 247 miles.
• The Model 3, a compact sedan, offers 97 cubic feet of passenger volume and 24 cubic feet of cargo space. The Bolt EUV, a subcompact crossover, provides similar passenger volume at 97 cubic feet but offers slightly less cargo space at 16.3 cubic feet. 
• Tesla’s Model 3 includes a minimalist interior with a 15-inch touchscreen interface, advanced driver-assistance features, and access to Tesla’s Supercharger network. The Bolt EUV comes equipped with Chevrolet’s infotainment system, supports Apple CarPlay and Android Auto, and offers GM’s Super Cruise hands-free driving technology on compatible roads.
• The 2025 Tesla Model 3 starts at approximately $42,490, positioning it in the premium EV segment. The Chevrolet Bolt EUV offered a more affordable entry point, with prices starting around $27,800, making it one of the most budget-friendly electric vehicles available at the time of its release.

Erv, in the kind of methodical tone that could make an actuary swoon, detailed everything: kilowatt-hours, miles per gallon equivalent (MPGe), oil changes priced to the penny, and even the political nuances of gas taxes and EV surcharges. 

According to his logs, the Model 3 RWD clocked in at 15 cents per mile in fuel and maintenance. The Bolt? Slightly worse. But even those figures paled next to his dearly departed Corolla, which, once depreciation was factored in, ran just 20 cents per mile overall. The Tesla ballooned to 34 cents. That’s not a minor difference.

Depreciation and Maintenance, How Reddit Users React to True EV Ownership Costs

The Reddit horde, predictably, pounced. One commenter, Hsaphoto, praised the inclusion of depreciation: the forgotten financial bogeyman. Another, neutralpoliticsbot, scoffed at the $30 oil change estimate with a sarcastic “$30 oil change where?”, the internet equivalent of flipping a table. 

Erv held the line, citing years of discount coupons and standard oil. Welcome to Reddit, where every car becomes a case study and every assumption gets litigated like a class-action suit.

Beyond the Spreadsheet, User-Reported Efficiency and Cost Highlights from Bolt and Hybrid Owners

One Bolt owner, Low_Thanks_1540, bragged about getting 5.1 mi/kWh in Detroit, averaging just 3 cents per mile. Another user brought their Ford Maverick hybrid into the ring, reporting a paltry $0.129 per mile in operating costs. Suddenly, the Model 3’s efficiency crown didn’t feel quite so regal.

The Tesla still wins where it matters to many, comfort, safety, and long-term efficiency. It delivered 114 MPGe versus the Bolt’s 103, despite colder temps and nearly 11,000 more miles logged. And with LFP batteries under the floorboards and a 239 mi/kWh efficiency reported by the car itself (after adjusting for preconditioning losses), the Model 3 proved not only cost-effective but technologically superior. As one user noted, “It’s well documented that the Tesla Model 3 RWD is more efficient than a Bolt with all things being equal.” The key phrase is that all things being equal, which in the real world, they rarely are.

MPGe Demystified, How EPA’s Miles-Per-Gallon-Equivalent Rating Works for EV Buyers

• MPGe is determined by equating the energy content of electricity to that of gasoline. Specifically, 33.7 kilowatt-hours (kWh) of electricity is considered equivalent to one gallon of gasoline. To calculate MPGe, the distance an electric vehicle can travel on 33.7 kWh is measured, allowing for a comparison with traditional miles-per-gallon (MPG) ratings of gasoline vehicles. 
• MPGe was introduced to provide consumers with a familiar metric to compare the energy efficiency of electric vehicles (EVs) to that of internal combustion engine vehicles. By translating electric energy consumption into a gasoline-equivalent format, it aims to simplify the decision-making process for potential EV buyers.
• While MPGe offers a standardized measure, it doesn’t account for various real-world factors such as driving habits, terrain, climate conditions, and accessory usage (like air conditioning), all of which can significantly impact an EV’s actual efficiency. Consequently, two vehicles with similar MPGe ratings might perform differently under everyday driving conditions.
• MPGe focuses solely on the energy consumed by the vehicle during operation, neglecting the efficiency and environmental impact of electricity generation and transmission. For instance, electricity produced from renewable sources has a different environmental footprint compared to that generated from fossil fuels, but MPGe does not differentiate between them.

Still, the most revealing part of this Reddit saga was the emotional math. Erv knows his Tesla costs more. He admits it. But he’s comfortable paying that premium for the intangible upgrades, refined ride, cleaner footprint, and the sense that he’s driving the future. That, right there, is the fine print most car reviews miss. We’re not always chasing the cheapest ride. Sometimes, we’re chasing the one that feels right. Even if it costs 14 cents more per mile.

Shifts in Car Ownership

So what does this all mean? It means the automotive world is no longer defined solely by horsepower and leather trim. It’s defined by kilowatt-hours, tax credits, and Reddit threads that dissect your every mile like a neurosurgeon studying a brain scan. 

The EV revolution forces you to confront what you value, numbers or nuance, cost or conscience. And if you’re still wondering whether to switch, don’t just take it from the marketing brochures. Sit down with the math geniuses in the back booth of Reddit and let them show you what owning an EV actually costs.

Because in the end, the Tesla might feel like the future, the Bolt might get you there frugally, and the Corolla? That humble little gas-sipper might still be the most honest ride of all.

Have you done your own cost breakdown on EV ownership versus your previous ICE vehicles? What unexpected costs or savings did you encounter? Share your experiences with us in the comments!

Image Sources: Tesla Media Center, Chevy Newsroom, KBCustoms Facebook Page, Joseph L Young Sr. Facebook Page

Noah Washington is an automotive journalist based in Atlanta, Georgia. He enjoys covering the latest news in the automotive industry and conducting reviews on the latest cars. He has been in the automotive industry since 15 years old and has been featured in prominent automotive news sites. You can reach him on X and LinkedIn for tips and to follow his automotive coverage.