Updated 2 weeks ago
How Much is a Tesla? Cost for All 2024 Tesla Models
Written by
Ana Almerini
The cost of a Tesla electric vehicle will range from $38,990 to $116,630 in 2024, depending on the model and package you choose.
Tesla remains one of the most popular electric car options, holding 49% of the EV market share. Many of their models are eligible for a $7,500 federal tax credit to bring the price down. Tesla prices have become more affordable, making them a great option for those interested in purchasing an electric car.
In this article, we break down these 2024 Tesla costs:
Buying a Tesla
Available customizations and Tesla accessories
Tesla charging costs
Tesla maintenance
Tesla MSRPs at a glance:
Model | Base price | Max price |
|---|---|---|
Model 3 | $38,990 | $66,630 |
Model Y | $44,990 | $63,490 |
Model X | $77,990 | $113,630 |
Model S | $72,990 | $107,630 |
Cybertruck | $60,990 | $99,990 |
How much does a Tesla model cost?
A Tesla can be priced as low as $38,990 or as high as $113,630 in 2024, depending on the model and added features.
The cheapest Tesla model is the base Model 3 Rear-Wheel Drive, starting at $38,990. This is less than the average cost of an electric car, which is about $55,000.
One of the newest Tesla models, the Cyberbeast truck, has the highest starting price, at $99,990. But, a Tesla Model X with the priciest customizations comes in as the most expensive Tesla at over $113,000.
Tesla offers various features and add-ons that can affect the price of the electric vehicle. For instance, choosing a red Tesla will always cost more than the standard stealth grey. Let's take a closer look at the prices of each Tesla model.
Federal EV tax credit. All Model Y models and Model 3 Performance and Long Range models are eligible for the full $7,500 Federal Clean Vehicle Tax Credit. But be mindful of price caps! Your Model 3 cannot exceed $55,000, and your Model Y can’t exceed $80,000.
Tesla Model 3 price
Image courtesy of Tesla, Inc.
The Tesla Model 3 is the cheapest Tesla car currently offered. The base rear-wheel drive (RWD) trim level has an official starting price of $38,990, while the Long Range version is priced at $47,490. The Performance model is the most expensive, starting at $54,990.
Both the Model 3 Long Range and Model 3 Performance variants qualify for the $7,500 federal electric vehicle tax credit, which can help make the cheapest Tesla even cheaper. However, the base standard range RWD model is not eligible for the tax credit, and physical add-ons, like a new paint color or a different interior, will make the Model 3 Performance variant too expensive to qualify for the tax credit.
Model and version | Base price | Max price | Federal tax credit value | Mileage range |
|---|---|---|---|---|
Model 3 Rear-Wheel Drive (RWD) | $38,990 | $51,990 | $0 | 272 Miles |
Model 3 Long Range All-Wheel Drive (AWD) | $47,490 | $60,740 | $7,500 | 341 Miles |
Model 3 Performance AWD | $54,990 | $66,630 | $7,500 | 303 Miles |
Tesla Model 3 accessories
Great accessories are available for Tesla models to keep them organized and ensure the car meets all of your needs. You can find a full line of accessories for your Tesla, from snow chains to pet liners
We list the cost of top accessories for the 2023 and 2024 models of the Tesla Model 3.
Tesla Model Y price
Image courtesy of Tesla, Inc.
The Model Y is Tesla’s top-selling car, and for good reason. It gives you the best of both worlds — more space like the Model X but an affordable price point like the Model 3, plus it comes with up to 320 miles of EPA estimated range.
The most you’ll pay for a Model Y is $63,490 when you get it fully loaded. There are three variants of the Model Y that come at different price points:
Model and version | Base price | Max price | Federal tax credit value | Mileage range |
|---|---|---|---|---|
Model Y Long Range RWD | $44,990 | $49,990 | $7,500 | 320 Miles |
Model Y Long Range AWD | $47,990 | $58,990 | $7,500 | 308 Miles |
Model Y Performance AWD | $51,490 | $63,490 | $7,500 | 279 Miles |
Tesla Model Y accessories
The available accessories highlight Tesla's versatility. For example, the Model Y has options such as all-weather interior liners and even an air mattress that can fit in the back of the car. Most accessories are priced between $35 to $500 but expect to pay more for protective coatings or tire packages.
Tesla Model S price
Image courtesy of Tesla, Inc.
The Model S is Tesla’s premium offering and has 402 miles of range, the longest of all the Tesla vehicles. The standard dual-motor variant currently starts at $72,990. If you add all the upgrades, that price shoots above $92,000.
If you’re looking for Tesla’s fastest vehicle, it’s the three-motor Model S Plaid variant. It can take you from 0 to 60 mph in just 1.99 seconds — making it the quickest mass-market car in existence — and has a high speed of 200 mph. The Plaid variant has a starting price of $87,990 but can reach over $100,000, depending on how you customize it.
Needless to say, the Model S exceeds the MSRP limits for the tax credit, so don’t expect a tax break from the federal government for this EV.
Model and version | Base price | Max price | Federal tax credit value | Mileage range |
|---|---|---|---|---|
Model S AWD | $72,990 | $92,630 | $0 | 402 Miles |
Model S Plaid | $87,990 | $107,630 | $0 | 359 Miles |
Tesla Model S accessories
If you want to enhance your Model S's features, there are great accessories to add, ranging from pet liners to keep your seats clean to the Track Package, which can cost up to $20,000. The Track Package allows you to drive your Tesla with a little wreckless flair, allowing up to 200 miles an hour with aluminum wheels, track-ready wheels, and high-performance brake pads.
Tesla Model X price
Image courtesy of Tesla, Inc.
The Model X is Tesla’s larger SUV option, known for its distinctive ‘falcon-wing’ doors. At $77,990, the 2024 Tesla Model X standard variant has a higher starting price than any other base model Tesla.
The faster, more luxurious Model X Plaid variant starts at $92,990 but can reach an impressive $113,000 price tag with customizations. Like Model S, the Model X is too expensive to receive the EV tax credit.
Model and version | Base price | Max price | Federal tax credit value | Mileage range |
|---|---|---|---|---|
Model X AWD | $77,990 | $102,130 | $0 | 335 Miles |
Model X Plaid | $92,990 | $113,630 | $0 | 326 Miles |
Tesla Model X accessories
The Model X accessories are pretty classic, offering interior liners and even a winter tire package for those who need extra stability in the colder months.
Tesla Cybertruck price
The Tesla Cybertruck is the newest car offered by Tesla. With three models and a distinctly futuristic design, it will cost between $60,990 and $99,990 to get your hands on a Cybertruck.
The Cybertruck's real-wheel base model costs $60,990, while the slightly more elevated all-wheel drive option costs $79,990. The Cyberbeast, with all the bells and whistles, like 2.6 seconds to 60 MPH, costs $99,990.
The Cybertruck is only available for pre-order with an expected delivery date in 2025. These electric trucks are too expensive to receive the federal EV tax credit.
Model | Cost | Mileage Range |
|---|---|---|
Cybertruck Rear-Wheel | $60,990 | 250 Miles |
Cybertruck All-Wheel | $79,990 | 340 Miles |
Cyberbeast | $99,990 | 320 Miles |
Cybertruck accessories
The Cybertruck offers fewer accessories than the more established Tesla models, but that will likely change as more Cybertrucks become available. What they do have are unique options for an outdoor lifestyle, like a Cybertent for camping.
Prices of upcoming Tesla models: Model 2 and Roadster
If you’re more interested in one of Tesla’s upcoming offerings, here’s a quick look at what you can expect to pay for each model and when they're scheduled to be released.
Model | Base price | Max price | Expected launch |
|---|---|---|---|
Roadster | $200,000 | $250,000 | Potentially available in 2026 |
Model 2 | $25,000 | N/A | No longer available |
The Tesla Roadster promises to be the fastest street-legal car yet, with a top speed of 250 miles per hour and an impressive range of 620 miles. The Roadster can be reserved with a $5,000 initial deposit, with $45,000 due within ten days of pre-ordering.
The prices and release dates mentioned above are based on the latest information provided by Tesla. We recommend taking them with a grain of salt; Tesla is notorious for repeated production delays and price changes.
Tesla tax credits and incentives for electric vehicles
Five new Tesla models qualify for the $7,500 federal tax credit for electric vehicles: the Model 3 Long Range All-Wheel Drive (AWD), The Model 3 Performance AWD, Model Y Long Range RWD, Model Y Long Range AWD, and the Model Y Performance AWD.
The following table breaks down the cost of each Tesla model before and after the EV tax credit:
Model | MSRP | Cost after tax credit |
|---|---|---|
Model 3 Long Range All-Wheel Drive (AWD) | $47,490 | $39,990 |
Model 3 Performance AWD | $54,990 | $47,490 |
Model Y Long Range RWD | $44,990 | $37,490 |
Model Y Long Range AWD | $47,990 | $40,490 |
Model Y Performance AWD | $51,490 | $43,990 |
Remember, not all Teslas qualify for the EV tax credit. Check the model year and ask for the VIN to confirm the car qualifies. Also, adding physical customizations to your Model 3 Performance may exceed the IRS MSRP limits and disqualify your vehicle from receiving the tax credit.
You can also get a tax credit when purchasing a used Tesla, with slightly different eligibility criteria than when buying a new model.
Some states offer additional rebate programs for EV purchasers to help reduce the upfront costs of getting an electric car. You may also live in an area that offers EV charging installation rebates, free toll programs, or the use of HOV lanes.
Are there any extra or hidden costs when buying a Tesla?
Yes, as with the purchase of any new vehicle, there are several additional expenses you should account for when buying a Tesla.
Order fee: A $250 non-refundable order fee is charged at the time of the order.
Destination and documentation fee: You’ll have to pay a $1,390 destination and documentation fee for the delivery of your vehicle. Most car makers charge about this much.
Taxes and fees: Model 3 buyers report paying between $4,500 and $5,000 in taxes and fees. You should expect to pay more if you buy one of the pricer cars, like a Model X or Model S.
Charging equipment: Tesla does not provide a charger with their cars, so make sure to get one. There are two options: the $250 Mobile Connector or the $450 Wall Connector.
Tesla financing rates and lease options
Although the cost of a Tesla might be out of your price range, leasing and financing options are available to make them more attainable.
Tesla financing options
You can finance your Tesla, like other cars, via a third-party loan or directly with Tesla.
Tesla’s financing rates range anywhere from 6.25% to 12.65%, depending on the term length and your credit score. Tesla buyers with better creditworthiness will earn a lower APR. The longer the term, the higher the rate.
When financing via Tesla, you can pay monthly via the Tesla App. It’s important to note that you cannot finance a Tesla vehicle that you plan to use for ride-share purposes.
Tesla car leasing options
Tesla offers leases in 44 states for eligible applicants. Here are a few important things to note with a Tesla lease:
After April 2022, no leased Teslas can be purchased at the end of the lease term.
Each mile over the lease agreement will be charged $0.25 per mile.
You cannot earn the federal EV tax credit on a leased vehicle.
You cannot lease a Cybertruck.
Leasing is a good option for those who don’t drive every day, who have a short commute, or for people who don’t want to own the vehicle once the lease is up.
Do Teslas really save money on gas?
Teslas save between $1,000 and $1,500 on average on gas costs annually. The cost to charge a Tesla varies between models, but most drivers will spend about $626 annually to charge their car with electricity versus over $1,500 to fill up a gas car.
Your actual annual gas savings will vary depending on where you live, how much you drive, and what your utility charges for electricity.
No matter how you slice it, you’ll save money by charging your car at home instead of heading to the gas station. But you can charge a Tesla for even less by charging your car with solar panels. Tesla’s can also be charged at public charging stations and Superchargers, which will cost more than home charging.
With enough solar panels to cover your charging needs, you could save over $100 monthly compared to a gas car. That’s $1,200 more you can keep in your pocket when you skip the grid!
Tesla maintenance costs and service fees
Tesla vehicles have lower maintenance costs than conventional gas-powered cars. The reason for this is simple: EVs have fewer moving parts than gas engines, so there is less need for service and repairs. Say goodbye to oil changes!
Tesla even says that annual servicing might not be necessary and recommends service only when parts are scheduled for checking or replacement.
Many Tesla owners say their only out-of-pocket maintenance costs within the first two years of ownership were related to their tires. This is mostly just periodic tire rotation, but some drivers said they needed to replace their tires early due to excessive wear and tear brought on by aggressive driving.
Projected five-year maintenance costs for a Model 3 come to about $980 total, assuming you change the parts yourself using Tesla’s DIY guides.
Tesla car insurance
Tesla offers driver insurance, with rates based on individual driver’s performance. Tesla uses in-vehicle monitors to account for driving behavior, which is then factored into your insurance premiums. Tesla also uses a Real-Time Safety Score that calculates factors like frequency of nighttime driving and aggressive turning to determine if you are a safe driver.
Your safety score changes every month, and based on the previous month’s data, your premium can be more or less expensive.
Tesla’s Real-Time Safety Score insurance is unavailable in California, but the company offers an alternative insurance option for drives in The Golden State.
Are Tesla cars worth the price?
While Teslas aren’t the cheapest cars around, they offer plenty of bang for your buck.
They are emissions-free, offer great driving performance, and have long driving ranges. They also come with low running costs, especially when compared to conventional gas-powered vehicles.
However, more companies are starting to introduce electric vehicles to the market. Now, with more than 100 EV models available from well-known brands like Kia, Toyota, and BMW, as well as luxury options from Rivian, Tesla is no longer the default EV option. It’s important to look around for the best EV that meets your needs.
Tesla has an advantage over other automakers in that it offers a full home ecosystem for energy products, which is attractive to Tesla enthusiasts. Tesla solar panels and the Solar Roof can run your home and your Tesla car on clean energy. You can store energy in the popular Tesla Powerwall battery and control everything in one app.
But if you’re not an Elon Musk superfan, other options are available. You can charge your Tesla, or any EV, with the help of a home solar system. Local solar companies can install just the right amount of solar panels to cover your EV charging needs so you can save money and reduce your carbon footprint.
Tesla cost FAQs
Ana is the Marketing & Communications Manager at SolarReviews, working within the solar industry since 2020. With a Master's in Climate and Society and professional experience in marketing, she helps communicate the value of solar to homeowners and build awareness of the SolarReviews brand. On weekends you can find her at the Jersey shore, reading a book from the ever-increasing stack on her side table, or eating food someone else cooked....
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