Tesla has revolutionized the electric vehicle (EV) market, becoming a household name synonymous with innovation and sustainability. If you’re considering joining the electric revolution, a key question is: How much does a Tesla cost? In 2024 and looking forward to 2025, Tesla’s pricing varies widely depending on the model, features, and customization options you choose. This guide provides a detailed breakdown of Tesla prices, potential savings, and factors that influence the overall cost.
Tesla MSRPs at a Glance: 2024-2025
Here’s a quick overview of the Manufacturer’s Suggested Retail Prices (MSRP) for Tesla’s current lineup:
| Model | Base Price | Max Price |
|---|---|---|
| Model 3 | $42,490 | $62,990 |
| Model Y | $44,990 | $63,490 |
| Model X | $84,990 | $125,490 |
| Model S | $79,990 | $112,990 |
| Cybertruck | $79,990 | $99,990 |
Breaking Down the Cost of Each Tesla Model
The final price you pay for your Tesla will depend on several factors. Let’s dive into the details of each model.
Tesla Model 3 Price: The Entry-Level Option
The Tesla Model 3 is the most affordable Tesla available. The Rear-Wheel Drive (RWD) version starts at $42,490, making it a compelling option for those looking to enter the EV market. The Long Range version starts at $47,490, while the Performance model is priced higher, starting at $54,990.
Key Factors Affecting Model 3 Price:
- Trim Level: RWD, Long Range, and Performance variants have different base prices.
- Options & Packages: Upgrading to enhanced autopilot, full self-driving capability, or premium interior will increase the price.
- Exterior & Interior: Choosing a premium paint color or interior finish adds to the overall cost.
Model 3 Price & Federal Tax Credit
| Model and Version | Base Price | Max Price | Federal Tax Credit Value | Mileage Range |
|---|---|---|---|---|
| Model 3 Rear-Wheel Drive (RWD) | $42,490 | $54,490 | $7,500 | 363 Miles |
| Model 3 Long Range All-Wheel Drive (AWD) | $47,490 | $59,490 | $7,500 | 346 Miles |
| Model 3 Performance AWD | $54,990 | $64,490 | $7,500 | 298 Miles |
Model 3 Financing Options:
Tesla offers both financing and leasing options. Here are estimated monthly payments:
| Model 3 Variant | Estimated Monthly Lease Payment* | Estimated Monthly Financing Payment** |
|---|---|---|
| Model 3 Long Range Rear-Wheel Drive | $299 | $589 |
| Model 3 Long Range All-Wheel Drive | $349 | $662 |
| Model 3 Performance All-Wheel Drive | $599 | $773 |
*Assumes $2,999 down, 36-month term, 10,000 miles.
**Assumes $3,999 down, 1.99% APR, 72 months.
Tesla Model Y Price: The Popular SUV
The Model Y is Tesla’s best-selling vehicle, offering a blend of space, performance, and affordability. It is priced at $44,990 to $63,490 depending on the specific model and add-ons.
Key Factors Affecting Model Y Price:
- Trim Level: Long Range RWD, Long Range AWD, and Performance AWD offer different performance and range capabilities.
- Seating Configuration: The Model Y is available in 5-seat and 7-seat configurations, affecting the price.
- Autopilot and Full Self-Driving: Adding advanced driver-assistance features increases the cost.
Model Y Price & Federal Tax Credit
| Model and Version | Base Price | Max Price | Federal Tax Credit Value | Mileage Range |
|---|---|---|---|---|
| Model Y Long Range RWD | $44,990 | $49,990 | $7,500 | 337 Miles |
| Model Y Long Range AWD | $47,990 | $58,990 | $7,500 | 311 Miles |
| Model Y Performance AWD | $51,490 | $63,490 | $7,500 | 277 Miles |
| Model Y Launch Series | $59,990 | $59,990 | $,7500 | 327 Miles |
Model Y Financing Options:
| Model Y Variant | Estimated Monthly Lease Payment* | Estimated Monthly Financing Payment** |
|---|---|---|
| Model Y Long Range RWD | $199 | $444 |
| Model Y Long Range AWD | $299 | $493 |
| Model Y Performance AWD | $499 | $551 |
| Model Y Launch Series | $599 | $725 |
*Assumes $2,999 down, 36 month term, 10,000 miles.
**Assumes $3,999 down, 5.84% APR, 72 months
Tesla Model S Price: The Premium Sedan
The Model S is Tesla’s premium sedan, offering impressive performance and luxury. The standard dual-motor variant starts at $79,990, with prices exceeding $112,000 depending on configuration.
Key Factors Affecting Model S Price:
- Trim Level: The Plaid variant, known for its incredible acceleration, commands a higher price.
- Battery Range: Choosing a larger battery pack for extended range increases the cost.
- Interior Features: Upgrading to premium seating, sound systems, or other luxury features affects the final price.
Model S Price & Federal Tax Credit
| Model and Version | Base Price | Max Price | Federal Tax Credit Value | Mileage Range |
|---|---|---|---|---|
| Model S AWD | $79,990 | $97,990 | $0 | 410 Miles |
| Model S Plaid | $94,990 | $112,990 | $0 | 410 Miles |
Model S Financing Options:
| Model S Variant | Estimated monthly lease payment* | Estimated monthly financing payment** |
|---|---|---|
| Model S AWD | $891 | $1,172 |
| Model S Plaid | $1,040 | $1,420 |
*Assumes $7,500 down, 36 month term, 10,000 miles.
**Assumes $3,999 down, 5,84% APR, 72 months
Tesla Model X Price: The Spacious SUV
The Model X is Tesla’s larger SUV, known for its unique falcon-wing doors and spacious interior. The standard variant starts at $84,990, with the Plaid version reaching prices up to $125,490 with customizations.
Key Factors Affecting Model X Price:
- Trim Level: The Plaid variant offers enhanced performance and a higher price tag.
- Seating Configuration: The Model X is available in 5-seat, 6-seat, and 7-seat configurations, impacting the price.
- Autopilot and Full Self-Driving: Adding these features significantly increases the cost.
Model X Price & Federal Tax Credit
| Model and Version | Base Price | Max Price | Federal Tax Credit Value | Mileage Range |
|---|---|---|---|---|
| Model X AWD | $84,990 | $110,490 | $0 | 329 Miles |
| Model X Plaid | $99,990 | $125,490 | $0 | 314 Miles |
Model X Financing Options:
| Model X Variant | Estimated monthly lease payment* | Estimated monthly financing payment** |
|---|---|---|
| Model X AWD | $1,041 | $1,254 |
| Model X Plaid | $1,191 | $1,502 |
*Assumes $7,500 down, 36 month term, 10,000 miles.
**Assumes $3,999 down, 5,84% APR, 72 months
Tesla Cybertruck Price: The Futuristic Pickup
The Tesla Cybertruck is Tesla’s entry into the pickup truck market, featuring a distinctive and futuristic design. It will cost between $79,990 and $99,990 based on the configuration.
Key Factors Affecting Cybertruck Price:
- Trim Level: All-Wheel Drive and Cyberbeast offer different performance levels.
- Range: Different battery packs provide varying range capabilities.
- Self-Driving Capabilities: Upgrading to Full Self-Driving adds to the price.
Cybertruck Price & Federal Tax Credit
| Model | Cost | Mileage Range |
|---|---|---|
| Cybertruck All-Wheel drive | $79,990 | 335 Miles |
| Cyberbeast | $99,990 | 301 Miles |
Cybertruck Financing Options:
| Cybertruck Variant | Estimated monthly lease payment* | Estimated monthly financing payment** |
|---|---|---|
| Cybertruck AWD | $807 | $965 |
| Cyberbeast | $908 | $1,383 |
*Assumes $7,500 down, 36 month term, 10,000 miles.
**Assumes $4,999 down, 2.99% APR, 72 months
Unveiling Tesla’s $7,500 Federal Tax Credit and Incentives
The U.S. government offers a $7,500 federal tax credit for eligible electric vehicles. This credit can significantly reduce the overall cost of owning a Tesla. To qualify for the credit, the vehicle must meet certain requirements, including being assembled in North America and having a battery capacity of at least 7 kilowatt-hours. Additionally, there are income limitations for buyers to qualify for the tax credit.
Five Tesla models currently qualify for the full $7,500 federal tax credit:
- Model 3 Long Range All-Wheel Drive (AWD)
- Model 3 Performance AWD
- Model Y Long Range RWD
- Model Y Long Range AWD
- Model Y Performance AWD
Tesla Model Price After Tax Credit
| Model | MSRP | Cost after tax credit |
|---|---|---|
| Model 3 Long Range RWD | $42,490 | $34,990 |
| Model 3 Long Range 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 |
| Model Y Launch Series | $59,990 | $52,490 |
| Cybertruck | $79,990 | $72,490 |
Hidden Costs: What to Consider Beyond the Sticker Price
Beyond the MSRP and potential tax credits, several additional costs can impact the total price of owning a Tesla.
- Order Fee: Tesla charges a non-refundable $250 order fee.
- Destination and Documentation Fee: Expect to pay around $1,390 for delivery and documentation.
- Taxes and Fees: These can range from $4,500 to $5,000, depending on your location and the vehicle’s price.
- Charging Equipment: Tesla no longer includes a charging cable as standard; a Mobile Connector costs $250, while a Wall Connector is $450.
Are Teslas Really Worth the Price?
Teslas have become popular due to their zero emissions, great performance, and a comprehensive ecosystem.
However, with growing political controversy surrounding CEO Elon Musk, there are many Tesla alternatives. 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.
That being said, Tesla does offer a home ecosystem for energy products, where Tesla solar panels and the Solar Roof can power your home and Tesla car on clean energy. You can also save energy in the Tesla Powerwall battery.
Conclusion: Making an Informed Tesla Purchase
Determining how much a Tesla costs requires considering the base price of the chosen model, selected options, potential tax credits, and additional fees. By carefully evaluating your needs and budget, you can make an informed decision and confidently embrace the electric driving experience.
