How much does a Tesla cost? What’s the price of a Tesla Model 3? Or a Model S or X? Am I going to save thant much in gas? We’ve collected some tools and calculators to help you make an informed decision.
The price of a Tesla Model 3 in the US starts at $35,000 (before tax incentives), whereas in Europe it starts at 50.000 euros. Maintenace costs, gas, EV tax incentives, and insurance costs, are some of the most important things to take into account when purchasing a Tesla.
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Past Tesletter articles
A more affordable Model Y?
Tesla might be close to making the Model Y decidedly more affordable. Electrek sources claim the automaker has begun trial production of a Model Y RWD LR version that would lower the price compared to the AWD models. Production trial is one of the last steps toward bringing a new version of a vehicle to market.From issue #123
AP and FSD prices are going up!
Tesla dropped FSD and AP for owners but Elon just announced that prices are going back to normal on Monday. This is after a few Tesla owners who already purchased EAP complained about having to pay more for FSD than people who didn’t. If you own a Tesla and you want to take advantage of the lower prices for FSD or AP, hurry up and get them before Monday.
Read more: TwitterFrom issue #50
Calculate your loan (M3 vs. MS)
Model S or Model 3, which one should you get? Use this comparison spreadsheet to compare costs. Thanks nberardi!
Read more: Spreadsheet - RedditFrom issue #11
CCS1 Retrofit cost
This Tesla owner has shared the cost of the CCS1 retrofit on Reddit. There was some miscommunication around if the $450 cost included labor, and it seems it does (as well as the parts). Good to hear!From issue #257
Cost of ownership of buying Model 3 vs keeping my M235i
Oyinko has created a spreadsheet to compare the cost of buying a Model 3 vs keeping his M235i.
Comparing the cost of ownership of a Model 3 AWD ($19,280) and P3D ($23,920) vs the M235i ($22,650), the numbers are very close. Although the price of the Model 3 (both of them) is higher than the M235i, the total cost of ownership is only 3k of difference for the AWD and 9k for the P3D.
Thanks for sharing Oyinko!
Read more: Google spreadsheetFrom issue #20
Electic cost vs. Gas cost
Despite this being an unusually high amount of miles per 30 days (7K miles!) the saving in fuel cost is still very significant and relevant. According to the Redditor who shared this info, they saved about $1K. Not bad!From issue #215
EV vs. ICE saving estimator
Thank you mennydrives for this awesome spreadsheet to compare gas/electricity prices.
See document: Google spreadsheetFrom issue #2
FSD may be offered as a monthly subscription
It’s not the first time that we hear about FSD potentially being offered as a monthly subscription (vs. paying for it before or after purchasing the vehicle). Just a few days ago, Elon confirmed on Twitter that a FSD “monthly rental” will be available sometime next year.From issue #135
FSD pricing going up (again)
The price of the FSD package will increment to $15k on September 5th. The current price will be honored for those who have ordered their cars before September 5th, but delivered later. Elon said this will happen after the wide release of FSD Beta 10.69.2, which he has said many times is a big step forward.From issue #230
FSD Subscription will cost less for those with EAP
This Reddit user discovered new messages that, potentially, will power the future subscription page. In it we can see that the FSD subscription will cost less if you have EAP, I guess it just makes sense since the features that you get from subscribing if you already have EAP are not as many as if you have basic AP.From issue #169
How does the resale value of Tesla's Model S hold up?
A recent report from venture capital firm Loup Ventures found that the depreciation of Tesla’s MS compares quite favorably with that of other vehicles in its class (Tesla Model S loses 28% of its value vs. Mercedes S-class ~36%, and BMW 7 Series 40%). Not that we’re planning on selling our MS any time soon, but lucky us :)
Read more: EvannexFrom issue #37
How much does it cost to charge a Tesla?
Thanks pete3442 for putting together the numbers. Here is a summary of his calculations.
Cost of electricity $0.12/kWh. Cost of gas $3/ galon.
|Car||Consumption||$ / 100 miles|
|Model 3||4 miles per kWh||$3|
Read more: RedditFrom issue #17
How much does it cost to charge a Tesla?
“Compare The Market” offers a very general overview of electricity rates and calculates how much it would cost to charge up a Tesla. All calculations are based on a MS with a 100 kWh battery charge & 259 miles per charge. The cheapest country is Chile where it costs $2.70 per 100 miles. The most expensive is Denmark where it costs $13.13 per 100 miles.
Read more: Compare The MarketFrom issue #64
I spend more (money) on tires than fuel
After two years of owning a Model S, this owner has spent more money per mile on tires than on electricity. These are his calculations:
- Tires: $1300/40k mi = 3.25 cents/mi
- Electricity: $0.07/kWh * 1 kWh/3 mi = 2.3 cents/mi
As one of the comments mentioned when he or she complained about the cost of replacing the performance tires… “you gotta pay to play.
Read more: RedditFrom issue #67
Is it worth leasing a Tesla?
Apparently not. Some of the main reasons shared by Tesla owners in the TMC forum are:
- Tesla takes the 7500 tax credit and pockets it, (unlike Nissan which treats it like a down payment)
- Bad money factor (e.g. hidden costs in the monthly payment)
- One of Tesla’s main advantages is the Supercharger network for further travel - you’re not going to be taking advantage of that in a lease with limited yearly mileage"
Read more: TMC ForumFrom issue #21
Massive price drops across the entire lineup
This past week, Tesla announced significant price reductions across their entire product lineup. The Model S Plaid and Model X Plaid have seen the greatest reductions in dollar amounts, with a decrease of $21,000 and $19,000, respectively. In terms of percentage, the Model Y Long-Range received a 19.7% discount, making it eligible for the EV Tax Incentive. Similarly, the Model 3 Performance saw a 14.2% reduction and now also qualifies for the incentive. For those who have been considering a purchase, now may be the time!From issue #250
Model 3 has lowered the price in the US
Tesla just updated the price of its Model 3 SR+ lowering it to $37,990 (-$2k) in the US. Prices elsewhere remain untouched, at least for now.
Model S/Model X LR and Performance versions’ price has also been lowered to $74,990 and $79,990 respectively (-$5k), but they no longer come with free Supercharging.
If you’re ordering a Tesla soon and we’ve been helpful in any way, please consider using my referral code http://ts.la/ignacio9266
Read more: Twitter
From issue #113
Model 3 resale value is over 5 times better than the industry average
An interesting study conducted by the car search engine iSeeCars.com, which analyzed over 6.9 million car sales to identify which vehicles experienced the most and least depreciation in the past three years. As it turns out, the Tesla Model 3 is able to retain its value over five times better than other EVs in the market.From issue #121
Model S and Model X price reductions
- Model S AWD: $89,990, down 5.2% from $94,990
- Model S Plaid: $109,990, down 4.3% from $114,990
- Model X AWD: $99,990, down 9.09% from $109,990
- Model X Plaid: $109,990, down 8.33% from $119,990
Model S and X got a price increase
We have seen a number of price increases in the last few months, maybe because of the components shortage or maybe because of high demand. This week Tesla increased the price of the Long Range Model S and X by $5,000 in the US, they are now $84,990 and $94,990 respectively.From issue #172
Model X and Model S get cheaper in the newest version
Tesla has dropped the price of the Model S and tthe Model X by $8,000. Model S and Model X that were previously sold under the 100D label will now be sold as “Extended Range” vehicles, while Tesla’s top-of-the-line P100D variants will now be branded as Model S Performance and Model X Performance. If you’re tempted, order before February 1st and get 6 months of free Supercharging with our referral code http://ts.la/ignacio9266
Read more: TeslaratiFrom issue #44
Model Y price reduction
Tesla lowered the price of the Model Y Long Range AWD by $3,000 on Saturday, July 11th. The other current version offered, the Model Y Performance, received a $1,000 price drop. If you’re purchasing a Model Y soon and we have been helpful to you in any way, please use our referral code http://ts.la/ignacio9266 to get 1,000 miles of free Supercharging.From issue #120
New 30 day Enhanced Autopilot trial!
Tesla just raised the price of AP if purchased after delivery to $8k but the new trial offers a promotional price of $5,500. If you try it and like it, buy it while it’s still discounted!
Disclaimer: We love our AP and think it makes road trips much more relaxed even though you still have to pay full attention to the car, traffic, etc.
Read more: TeslaFrom issue #32
New Model S price reduction
Right after Tesla has cut the price of the Model S by $4,200, Elon has said on Twitter that they’re reducing its price again to $69,420 (Long Range Plus version). This would be the third time that the Model S gets a price reduction this year, bringing Model S 2020 discounts to over $10,000. Not bad!From issue #133
Takeaways after 1 year with a Tesla Taxi
This Spanish taxi driver has shared his honest experience after a year driving a Tesla Model 3 for work. The videos are in Spanish, so here’s a quick summary:
- Saved 10k euros after 1 year and 100km/62 mi
- Charging/Gas cost: 0.5€-1€/100km vs. 12-13€/100km 115cv Diesel
- Purchase cost: 48k euros (including tax deduction) vs. 20.000€
- Battery degradation after 100 km: 3-4% (degradation happened mostly between 30,000 and 60,000 km)
- Only maintenance was changing the tires
- Only con is that not everyone figures out how to open the doors
- Why Tesla (instead of other EV): Range/ charging infrastructure and easier to homologate as a taxi
Tesla adding 5k to trade-in value for early S/X owners with Unlimited Supercharging
If you are thinking of purchasing a new Model X or Model S, Tesla is offering $5k in free Supercharging as an incentive.From issue #255
Tesla car price history
Fantastic spreadsheet tracking the price change of all the different Tesla products, cars, software, and energy, in the USA. Thank you to whoever maintains this spreadsheet, great work!From issue #198
Tesla changes pricing of Model S and Model X, makes several option changes to simplify offering
Model S Changes:
- Carbon fiber spoiler has been made standard on all the Model S P100D
- Rear-facing child seats are gone
- 21″ Black Arachnid Wheels are not in the config anymore
- Panoramic Sunroof is gone
Model X Changes:
- The 6-seat with center console configuration has been discontinued
- 72 amp on-board charger: now only available in single phase markets. Other markets will only have the 48 amp charger"
Read more: RedditFrom issue #33
Tesla increases prices for all Model S, 3, X, and Y variants in Canada
Not so good news for folks in Canada, Tesla has been adjusting their prices. The price of FSD Capability has increased by $2,200, and both Model Y variants were also increased by $1,000 and $1,100. All variants of all refreshed Model S and X were increased by $600. The biggest price increase belongs to the Model 3 Long Range (LR), now $3,000 more expensive.From issue #215
Tesla just raised Supercharger prices in California
Peak prices in California raised by about 20%, from $0.48kwh to $0.58kwh.From issue #216
Tesla loan comparison spreadsheet
Useful spreadsheet comparing the different loan options for Teslas out there. Take a look if you are financing soon!
Read more: SpreadsheetFrom issue #26
Tesla M3 cost calculator
Includes ‘Performace’ option. Thank you budlande for recovering this, updating, and sharing!
More: Google spreadsheetFrom issue #9
Tesla Model 3 maintenance costs, warranty info, and service items - One year later
TeslaJoy - I’m proud to say she is a subscriber to this newsletter, hi Joy! - has published a fantastic video about her first year of owning a Model 3 and what that her maintenance costs have been.
Tesla offering discounts on new Model S/X cars in existing inventory in Canada
For our friends in Canada, Tesla is offering incentives to buy the new Model S and Model X. In some cases, the discount is up to $10,890 for a Model S and $10,530 for a Model X.From issue #255
Tesla service manuals are now free
If you are one of those people who like tinkering with their Teslas, this is great news. Last week Tesla made their service manuals, body repair, and other service-related content free of charge. For reference, this kind of service usually costs over $3k a year and now you can do it yourself.From issue #217
US Model 3/Y price history since 2021
Nice historical price charts and the price reduction is really impressive when seen in perspective.From issue #250