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How Much Is a Tesla (and Is It Worth It?)

How Much is a Tesla (and Is It Worth It?)

In the 1980s and ‘90s, everyone assumed by the early 2000s, we’d have flying cars. While we haven’t arrived at that point yet, Elon Musk and the folks at Tesla are getting us one step closer.

Their luxury vehicles are game-changers for many consumers, and Elon and his crew have many automakers shaking in their boots.

Today, we’ll look at how much a Tesla costs and if it’s a good fit for your next car.

Let’s get started!

How Much Is a Tesla?

Currently, there are four different types of Teslas available: Model S, Model X, Model Y, and Model 3. All four models are 100% electric and have a futuristic look.

Tesla cars stand out, and the smooth curves make them aerodynamic and eye-catching. It’s not a coincidence that Elon Musk, the CEO of Tesla, chose to name the models what he did. If you arrange the letters of each model just right, they spell the word S-3-X-Y.

Let’s take a closer look at each model and how Tesla is changing the future of consumer vehicles.

Man skateboarding next to his Tesla.
A Tesla might be S-3-X-Y, but it is always important to weigh the pros and cons before buying.

Model S

The Model S has a long, sleek look compared to what you’d expect to see in another luxury car. The Model S has two styles, the Long Range and Plaid. 

While the Long Range version can go a maximum of 405 miles on a single charge, the Plaid version can go 0-60 in less than two seconds. However, the Long Range can still do 0-60 in a respectable 3.1 seconds. The plaid has a max speed of 200 mph. If you’re looking for a roomy family car, the Model S seats five and provides plenty of legroom.

The Model S starts at $84,490.

Model X

While all of the Tesla models look futuristic, the Model X is by far the most futuristic. The front doors are nothing special, but the rear doors are known as Falcon Wing doors. When you see them open, you feel like you’re witnessing the future.

The Model X is an SUV-style vehicle capable of seating seven. The standard Model X seats five, so you need to choose an upgrade to get the additional seating. Despite having 91 cubic feet of cargo capacity, it can do 0-60 in 2.5 seconds and maintains a maximum speed of 155 mph.

The Model X goes for $94,690.

Model Y 

If you combine the Model 3 and the Model X, the Model Y would be the result. This compact SUV comes standard with seating for five, but seating for seven is an optional upgrade.

The Model Y is available in Long Range and Performance versions. The Long Range version has a maximum range of 326 miles and can do 0-60 in just over four seconds. The speedier Performance version has a range of 303 miles and can do 0-60 in 3.6 seconds. This model stands out as a crossover electric vehicle.

You’ll pay $46,690 or more for a Model Y.

Model 3

For those looking for a budget-friendly Tesla, the Model 3 is the best choice. This is an excellent option for those looking for a commuter car or a four-door sedan. 

The Model 3 is the only model of Tesla that continues to offer three versions. While the Model 3 has the Long Range and Performance versions, it also has a Standard Range Plus version. You can expect a range of 263 miles for the Standard Range, 353 miles for the Long Range, and 315 miles for the Performance version.

Much like the range, the speed and acceleration also vary depending on which model you select. You can expect 0-60 in 5.6 seconds from the Standard Range, 4.2 seconds from the Long Range, and 3.2 seconds from the Performance.

The Model 3 starts at $35,690.

Did You Know: Tesla doesn’t just make cars, they also make campers. Read more to find out What is a CyberLandr Tesla Camper?

Is It Expensive to Own a Tesla?

While a Standard Range Plus Model 3 starts at $35,690, the Model S Plaid starts at $129,990. If the cars weren’t expensive enough, upgrades could raise the price faster further. Adding the full self-driving capability to a car now adds $10,000. 

Is It Expensive to Insure a Tesla?

While you might think driving a car with some of the highest safety capabilities would make it cheaper to insure, you’d be wrong. Tesla vehicles, especially the Model S and X, are incredibly expensive to insure because repairs and maintenance costs aren’t cheap. Motortrend says the Plaid versions of the Model X and Model S are two of the most expensive vehicles to insure in their class. 

Tesla offers Tesla Insurance, which they claim can save owners 20% in most cases, but as much as 30%. One disadvantage is that Tesla Insurance may not be available where you live. Tesla Insurance is currently available for California residents, but the company hopes to expand to more states in the future.

Close up of red Tesla in the rain with logo.
Make sure to purchase Tesla insurance to protect your Tesla once you drive it off the lot.

Is Owning a Tesla Cheaper Than Buying Gas?

The higher upfront cost of a Tesla can be a barrier to entry for many. But you should also factor in gas, maintenance, insurance, and depreciation. While depreciation varies from car to car, the Tesla Model 3 can resell at 80% of its value after five years.

It can be cheaper to buy a Tesla than a gas vehicle when you factor in all of these differences. You might even be in for a surprise at how little a Tesla will raise your electric bill!

How Much Will a Tesla Car Raise Your Electric Bill?

While owning a Tesla means you’ll no longer need to stop at the gas station on the way to work, charging your Tesla isn’t free. How much it will raise your electric bill will depend on how much you’re driving and the cost of electricity where you live.

Inside EVs says it’ll cost approximately $15.92 to charge the 100 kWh battery in a Tesla Model X. If you’re driving a couple of hundred miles each week, you can expect to see a $50 to $60 increase in your electric bill. While you’ll still be saving a tremendous amount of money and time by not stopping at the gas station, the $600 to $700 per year is certainly an expense.

Woman using Tesla built in map while driving.
While Teslas are luxury vehicles, they have many benefits that offset the costs.

How Long Do Tesla Cars Last?

Tesla estimates that their batteries will last 300,000 to 500,000 miles or approximately 10 to 20 years. As with any lithium battery, there will be some degradation over time. Teslas don’t have as many major mechanical components prone to failure as gas vehicles. With no exhaust system or engine, Teslas can last an incredibly long time.

Pro Tip: Want to go camping with your Tesla? Read more to find out Can Tesla Cybertruck Tow an RV or Trailer?

Do Tesla Cars Need Oil?

No, Teslas don’t require oil. The electric motors in Teslas use grease, which doesn’t degrade like engine oil. Any components using oil will be sealed for life and not require changing.

Is Owning a Tesla Car Worth It? 

You rarely hear of a Tesla owner complaining about their car or regretting their purchase. Teslas are the epitome of luxury and style. Whether you’re looking for a Tesla to better care for the environment, save money at the pump, or feel the instant acceleration of the electric motors, you’re sure to love it.

Would you consider a Tesla for your next vehicle?

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