- I just bought a Tesla to try and make $70,000.
Let me explain!
Hi guys, it's Mark.
So I watch a lot of YouTube,
and one thing that keeps getting suggested to me
over and over again are Tesla videos.
So you know what,
let's give the YouTube algorithm exactly what it wants.
It's time to buy a shiny, new Tesla.
You may be thinking this is one of the worst investments
I could possible make,
as most new cars just lose value
as soon as you drive them off the dealership.
That's why, in this video, I'm gonna come up with a plan
to make this car pay for itself
to hopefully prove buying a new car,
especially a Tesla, can be a great investment
as long as you know how yo turn it into an asset.
You never know, when you buy a new car,
some of these strategies might be helpful.
On top of this, if I manage to make a profit,
even if it's just one cent above the purchase price,
then I'm gonna be giving away $5,000
to one of you guys as a celebration!
Now if you think that's a good idea,
then just hit that thumbs up button and let me know.
And also consider subscribing
if you wanna have a chance of winning.
So YouTube, meet my new Tesla Model 3.
I call it the Dark Knight.
It cost me 50,990 pounds,
but let's use US dollars in this video,
because more people are familiar with that
because it's a worldwide currency.
That comes out at $69,560 at the time of filming this video.
I'm gonna put a counter in the corner
so you can track my progress.
When that number goes below zero,
you're gonna know that we've made a profit.
So without any further adieu,
let's run through my six phase plan
to try and make $70,000 from the Tesla.
First of all, let's set some rules.
Number one, I can't sell the car.
This would just make it too easy.
Number two, everything has to be possible
using today's technology.
So it wouldn't be fair to factor in things
that like, Elon Musk claims that you can use your car
to make $30,000 as a robotaxi.
And number three,
I only have one year to complete the challenge,
and I have to document everything on video.
Phase one is all about breaking down the finances.
Buying a Tesla may seem expensive at first,
but actually, there're so many hidden savings.
So let's add up everything
to see how much money I've made back already.
And before you start thinking this is an advert for Tesla,
it certainly isn't,
but if you're watching, Elon,
I wouldn't mind a sweet brand deal
or possibly a ride in your rocket!
So to convince more people to buy electric cars,
governments across the world are offering free money,
in the form of grants, to anyone that buys one.
In the UK, they've given me a grant equivalent
to $4,094, which was deducted straight away
from the purchase price of the car.
Their aim is to prevent the sale
of new internal combustion cars by the year 2030.
Back in my day, the only electric vehicles
were the one that delivered milk every day,
and there's no way you'd have caught me
driving one of those.
I bought the Tesla for my business,
and I paid for it in full.
Many people think that running a business
is all about making as much profit as possible,
but the more profit you make, the more tax you have to pay.
Writing off your expenses is one of the best things
about running a business,
as you're able to get things at a much cheaper rate.
Recently, we even wrote off a business trip to Malta,
you might remember the video.
So the Tesla comes off my profits the end of the year,
and it reduces my tax bill by $12,404.
This is a great way for me to spend some money
on something that I want,
and also get the government to give me a tax break!
(cash register dings)
This only really works well on electric cars.
If you do this with a normal car,
you're heavily taxed for using it for personal use,
like playing golf or going on a road trip.
This is called "Benefit in Kind" tax,
and I don't have to worry about it,
because the Tesla is rated at 0%.
So I can go and play as much golf as I like!
I usually travel about 20,000 miles a year,
as I have a lot of different business meetings to attend.
This costs about $0.19 per mile,
bringing my yearly total fuel cost to $3,800.
As the Tesla's completely electric,
it drives the cost down to less than $0.04 per mile,
which actually costs me only $800 a year.
So that's a saving of $3,000!
But wait for it,
it gets even better!
I wasn't actually meant to have my Tesla yet.
I was gonna be picking it up in February.
But I got a call at the end of December
offering me one year free super charging,
and also, self-driving for three months, free of charge.
At first I really wasn't sure if they were just trying
to sell me the old cars before the end of the year,
but I did a little bit of research.
I found an interview from 2014 where Elon Musk said
Tesla would deliver half a million cars in 2020,
and apparently, they were really close to this target,
so they decided to bump the sales with some great offers.
They actually managed to deliver 499,550 cars,
which is just short of the target,
but it's still pretty good going.
The great thing about this deal
was that I have a super charger very close to my house,
which means I won't have to pay for any charging
for the whole year!
So this is gonna save me another $800!
Another thing to consider,
is I have to go to London a lot,
and if any of you have ever driven there,
then you'll know that you have to pay congestion charge,
which is just over $20 per day,
and I must go there at least once every two weeks.
Because electric cars don't produce any fumes,
I don't have to pay the charge anymore,
so it means that I'll be saving $532 every year.
In the UK, we have to pay road tax, as well.
This money's supposed to be used to maintain our roads,
but I really don't know what they spend it on.
On my previous car, this was costing me $205 per year,
but the tax breaks just keep coming and coming
with this car, 'cause I don't have to pay any road tax!
Something that's quite a big hidden cost, nowadays,
is maintenance.
I usually get my car serviced twice a year
to make sure everything is working correctly and it's safe.
This is far less expensive with a Tesla,
as there are fewer parts that can go wrong.
I'm now able to save that $511 instead.
If the car has any issues,
then I just log it on the Tesla app
and someone comes out to service my car under warranty.
Talking of breakdowns,
for over 25 years, I've been a member of the AA,
which gives roadside assistance in the UK.
But now, I can actually cancel this,
as Tesla offers this as a complimentary service.
This isn't the biggest saving in the world,
but at least it's another $80 per year.
Something else to consider,
is it's a legal requirement in the UK
to have an MOT every year.
This is just a test to make sure your car is safe to drive.
But because it's a new car,
for the first three years I don't have to pay one!
This'll save me another $75 each year.
So we've already made back $21,701.
Some of these savings are gonna actually continue next year,
but of course, those ones,
we can't include in this challenge.
Now it's time to kickstart phase two,
affiliate marketing.
I recently bought some accessories for my Tesla
that I really think improve the look of the car.
I got a carbon fiber spoiler,
I replaced the hubcaps with a wheel cap kit,
I covered the wood dashboard with a carbon fiber decal,
and I added metal petals, all for under $200!
This is where you can get involved in the challenge.
If you, or even anyone you know,
uses the link in the description to by anything off Amazon,
it could be these accessories, or anything you want, really,
then Amazon will pay us a small commission
for sending you their way!
If enough of you guys help out by using the links,
then over the next year,
I think we can make an extra $2,000 towards our target.
Remember, you can buy absolutely anything you want
as long as it's on Amazon.
Phase three,
renting it out.
People seem to be really interested in this car.
They wanna experience the acceleration
and the autopilot for themselves.
Electric cars are definitely the future,
and people wanna learn more about them,
and what it's like to actually live with one.
This got me thinking,
it'd be a really good car to rent out
on websites like Turo.
It's like Airbnb for cars.
I've never tried it, but it sounds like quite a good idea.
You can rent the car out for a few days and get paid!
So I've had a little look,
and there doesn't seem to be many Teslas available
for rent in the UK.
That means low supply, high demand,
which means we can probably make a profit
of about $143 per day.
I never use my car between Friday and Sunday, anyway,
because I'm usually filming videos with my son for YouTube,
or I'm out with my wife in her car.
So we aim to rent out the car, say, 15 three day weekends,
we should get $6,450.
Of course, I could rent it out more than 15 weekends,
but I think this is a more realistic target.
Phase four,
wrapping the car with advertising.
So you might not know this, but I used to race cars.
And when I did, it was normal for me to get sponsored
in return for an advert on my car.
They would give me enough money to help fund my hobby.
And one of the biggest sponsorship deals I did
was for over $34,000.
So this got me thinking,
why don't I try and do the same with my Tesla?
I know it's not quite the same as sponsoring a race car,
but most companies are just looking for the exposure.
And now we have over a quarter of a million subscribers
on YouTube, and 4 million on TikTok,
we can certainly make it profitable for them.
I think we could aim to make at least 15 K,
and personally, I think that's really achievable,
seeing as I've closed a much bigger deal before,
and I didn't have any followers back then.
So that still leaves us with quite a big amount to find,
and honestly, I was a bit worried.
I couldn't think of any other ways
to make money from the Tesla.
But then I remembered YouTube ad revenue,
which is phase five.
So YouTube pays a rate per thousand views.
This is called the CPM,
and with business and finance videos, this is quite high.
There's a 23 year old YouTuber that bought a Tesla last year
called Jack Massey Welsh.
And people thought he was absolutely mad.
He then made a YouTube channel dedicated to it,
and he's managed to make more
than the entire cost of the car back.
It's probably one of the best investments he's ever made.
I think we could expect
to make around about $15 per thousand views,
as we're mixing the car and business niches.
So if we upload five videos,
we've got a pretty good chance of going viral,
so I would say $15,000 is a good target to set.
I'll show you the behind the scenes of our analytics
once the videos have been posted.
Phase six, blog posts.
I can also repurpose all of these videos
by turning them into blog posts,
and then I can upload them to a website called Medium.
I've seen some people make more than $19,000 per article!
And with five of them, we could have quite a lot of views,
especially if you guys get behind it.
I'll leave a link in the description to the first blog,
and if you have time,
I'd really appreciate it if you could give it a quick read.
I think $10,000 would be a good target to aim for.
I've never tried this before,
so we'll just have to see how it goes.
So if we manage to hit all these targets,
then we'll make $409 profit.
And if we manage to do this,
then I will, of course, be giving away $5,000
to one of you guys.
If you have any other ideas of what else we can do,
then just leave them in the comments,
and I will make a video trying out the top suggestions.
I'm gonna leave the next video right up here for you,
but don't click on it just yet.
If you wanna keep up to date with the series,
then remember to subscribe, ring that notification bell,
and smash that like button!
Okay, I'll see you over there.