TESLA

Tesla shows how Cybertruck can help you save thousands of dollars and still have cheaper insurance 

Tesla showed, this Monday, that having a Cybertruck can help you save many dollars, compared to any other combustion pickup truck. Electricity and fuel prices, combined with consumption levels, mean that Cybertruck drivers can save more than $2,000.

Tesla's official X social media channel showed that one driver saved $2,212 in a year by driving the Cybertruck.

The same share says that after five years the savings could be 11,000 dollars, something like 10,150 euros.

Tesla Cybertruck insurance is up to 30% cheaper...Contrary to logic, the Tesla Cybertruck, an electric pickup truck with a futuristic look, has proven to be more affordable in terms of car insurance than the popular Model 3, the automaker's most “affordable” car. A recent study by Insurify found that the average annual cost of full coverage insurance for the Cybertruck is $3,392.

Although this value is 45% higher than the national average (US$2,336) and 17% higher than the average for electric vehicles (US$2,892), it is still lower than other models in the Tesla lineup.

The Tesla Model 3, for example, leads the ranking of the brand's most expensive insurance, with an average annual cost of US$4,347. That means insuring Tesla's entry-level model could cost up to 28% more than the Cybertruck, even with a 53% lower acquisition price ($42,990 vs. $79,990, excluding tax incentives and fees). In fact, demand for the renewed Tesla Model Y attracts 200 thousand pre-orders in China; Cybertruck is the next bet.

Why is the Cybertruck Cheaper to Insure? One of the main factors that explain this difference is the profile of the owners. According to Insurify, 66% of Cybertruck buyers have an excellent credit score, while only 13% of Model 3 owners fall into that category. The Model 3's lower average credit score may be related to its mass appeal, attracting a younger audience and/or those with riskier financial histories.

Additionally, half (50%) of Cybertruck owners are between the ages of 40 and 49, an age group that represents only 14% of Model 3 owners. Since more experienced drivers generally pose a lower risk to insurers, this helps keep Cybertruck rates in check.

Still, the Cybertruck isn't the cheapest electric pickup truck to insure. The Ford F-150 Lightning leads in this regard, with an average annual cost of US$3,193, about 6% less than the Cybertruck. The Lightning's more affordable initial price and lower repair costs may explain this difference, even though only 18% of its owners have excellent credit scores (versus 66% for the Cybertruck). In fact, Mustang Mach-E owners are suing Ford over the lack of door handles.

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