![]() ![]() One of the potential issues to keep in mind when buying a Tesla is that the cars have not existed for very long. Compare rates Cost of maintenance and repairs With SmartFinancial’s online marketplace of vetted lenders, you can quickly shop around for rates from the country’s top insurance companies and make sure you’re paying the lowest price possible. Peak hours and rates depend on where you live, so you’re going to want to ask your electric company what its policies are.Īuto insurance is essential, but that doesn’t mean you need to spend a huge chunk of your paycheck on it. If you choose to charge your car this way, you'll want to plug it in at any time other than the "peak time" of the day, when electricity is most expensive. ![]() Most people plug their electric cars into an outlet in their garage and just forget about them and go about their nightly business. If you don’t have any charging stations in your local area, the only option will be to charge your car at home. You do pay for the privilege Tesla says pricing "may vary by location, and prices may change from time to time." Tesla has its own “Supercharging Stations" around the country that allow you to charge your battery in just 15 minutes. The only downside to using a free public charging station is that it can take a while for your battery to fill up. If you’re not sure where to go, a number of apps are available that will show the charging stations closest to you.Īs time goes on and electric cars become more common, you will probably see more of these stations popping up around your area. The cheapest way to charge your Tesla (or any electric car) is to find a free charging station. But you will be paying for electricity, "supercharging" and a few other things. So, what’s Tesla’s fuel economy? It’s the equivalent of a staggering 131 miles per gallon, the EPA says - even though the cars don't run on gasoline. If you’re buying 577 gallons a year at $4 a gallon, that’s $2,308 on gas for the year – or about $192 a month. That means you'll have to buy 577 gallons over the course of one year (15,000 / 26 = 577). So, let’s break it down: You're driving 15,000 miles in one year, and going 26 miles on one gallon of gas. (Note: Using round numbers makes the math a heck of a lot easier to do and understand.) We'll call it $4 for a nice round number. There are multiple mile-tracking apps you can download on your phone if you need help tracking your own miles.Īt the time of writing this, the current national average price for a gallon of gas is $3.68. Let’s round that up to 26.įederal Highway Administration data shows Americans drive different amounts at different ages in their lives the age group that can afford a Tesla is probably driving around 15,000 miles per year, on average. In the U.S., the average car has a fuel economy of 25.7 miles per gallon, according to the Environmental Protection Agency. Protect your personal belongings with Lemonade renters insurance, starting at $5/month. The most expensive Model X now comes in under $100,000 with a base price of $94,990, which is a $5,000 price cut from $99,990 in March. ![]() The base Model 3 starting price is now under $40,000. Teslas more affordable in 2023Īt the beginning of 2023, Tesla reduced the prices for all their models making ownership possible for more people. If you want a silver, black, blue or red Tesla, or you desire upgraded 19" sport wheels or a black-and-white interior, you'll pay more. The base price is for a white Tesla with standard 18” wheels and an all-black interior. You'll pay state sales tax on a new Tesla, too, unless you live in Alaska, Delaware, Montana, New Hampshire or Oregon. A "destination fee" of $1,390 brings the total cost of a Tesla Model 3 to $43,630 (excluding taxes and other fees). The car manufacturer has made two price cuts in April alone, and the Model 3 now boasts a starting purchase price of $39,990. Since the start of 2023, Tesla has made six rounds of price cuts on their vehicles in hopes of increasing demand.Įarlier this year the price on the most affordable Tesla Model 3 was $46,990 and then dropped to $42,990. The cost of a Tesla depends on the model and any upgrades you select, including autopilot features, color, and wheel choices. ![]()
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