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Tesla Model 3 Monthly Cost

December 11, 2019


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100 Comments

  • Reply Teslanomics with Ben Sullins September 7, 2017 at 4:46 am

    I'll start a thread here of all bugs/fixes so for those paying attention you can keep updated

  • Reply Solosheep September 25, 2017 at 10:15 pm

    Can you do this for the UK 🙂

  • Reply Eddy D September 27, 2017 at 4:26 am

    I hope you like body panel gaps and squeaks and rattles! I hear they are standard on all Model 3's

  • Reply Saibu Shayer October 4, 2017 at 4:03 am

    Hello Ben, great video! If you haven't already, can you make a video discussing the tax credits and other incentives for those considering a used Tesla? I am sure, like me, many people are considering this; as the Model S has been in production for a few years and a lot of them are making their way to the used car market. Thanks.

  • Reply Blake Griffin October 4, 2017 at 4:14 pm

    Awesome! Thanks

  • Reply Albert Langer October 9, 2017 at 6:39 am

    Is the interest rate – :compounding" or "daily interest reducing" or "monthly interest reducing" ?
    . Compounding interest inflates the real rate and outlawed with major banks for personal loans, in Australia in the 80's.. From memory, a compounded interest rate of 9% on your personal loan sounded great when the housing loan (monthly reducing) was at 11.5%. From memory, a compounding int rate of 9% was equivalent to an 18% rate over the 4 to 5 years.

  • Reply majstealth October 9, 2017 at 10:47 pm

    i dont know, all people besides myself, think buying a car from money you dont have is a good idea?

  • Reply Matt Bolson October 17, 2017 at 12:18 am

    Please add the $1k we all put down a year and a half ago

  • Reply Hansli Peterli October 18, 2017 at 4:25 pm

    Video on TCO about a car, one of the first words "loan". Gotta love murica…U deserve your president.

  • Reply R D October 20, 2017 at 11:07 pm

    How much do the batteries cost

  • Reply Ramakrishna Grandhi October 25, 2017 at 4:16 am

    If i buy model 3 every 2 years(i mean upgrade), do i get tax credit every 2 years? Or it is applicable only first time?

  • Reply Ned Schniebly November 4, 2017 at 6:26 pm

    What is Tesla going to charge Model 3 owners at supercharger stations? How will that compare to the amortized cost of installing a Tesla charge unit at home?

  • Reply LIBIN VARGHESE November 5, 2017 at 8:15 am

    give the simple answer……

  • Reply Corporate Slave November 13, 2017 at 7:59 am

    Those banks loving you guys..

  • Reply Ivan Santana November 15, 2017 at 4:26 pm

    I am Brazilian and probably I'll never have an electric car, but I am learning English and your videos help me a lot. Your pronunciation is clear, objective and easy to understand. Congratulations!

  • Reply Dale Couture November 24, 2017 at 9:51 am

    No one making 50k a year should be buying a $62k car. Dave Ramsey would have a heart attack if he saw that.

  • Reply Richard Servello November 28, 2017 at 2:07 pm

    You should also put an option for a balloon loan. It gives you lower monthly fees with a final payment of about 25% at the end, which you can refinance before you get there. Would get the monthly down about $200/month.

  • Reply YouTuber Anco December 1, 2017 at 8:11 am

    Can’t beat a Toyota Prius or the Prius prime !! Nah this car is to expensive!!!

  • Reply craig foulds December 5, 2017 at 6:03 pm

    wow 62k for a commuter car.

  • Reply Peter L December 16, 2017 at 6:20 pm

    I have nothing against Tesla — it's a great car, and at least the"liberal" California American-car haters now have to buy American for once. 
    Why wait for a Tesla 3 though, when you can get the new Chevy Bolt RIGHT NOW.  238 miles on a charge and cheaper than the Tesla 3, especially when you consider the expensive options most Tesla 3s will come with — which will push the real price tag to almost 60 grand.  The Chevy Bolt will go out the door for 35 grand nicely optioned.  It's made in Detroit by the way,  by tax-paying American workers.

  • Reply Albin Ekblom December 20, 2017 at 9:02 pm

    I would have given thumbs up if the tool didn't ask for email in an stressful popup.

  • Reply Y Linc December 26, 2017 at 11:41 am

    It's a great tool and I shared with some of my friends, thanks! So I played with your calculator a couple times and found that if you choose currency with CNY which is Chinese, the tax calculation will be wrong .. say a 35K base model and you get a tax for 57K. Hope you can fix it thanks!

  • Reply Frank January 3, 2018 at 2:21 am

    Over priced junk !!!

  • Reply James Sempy January 3, 2018 at 2:22 pm

    nice tutorial …. thanks for sharing.
    Battery Amortisation:
    this has to be considered, esp. when battery cost = 50 % of car cost, and battery must be replaced after 7 years ( correct me , if I'm wrong ) …

  • Reply Tanrichguy January 5, 2018 at 12:48 pm

    Do you play that Yamaha hanging on the wall, or is it art?

  • Reply Calvin Hodgson January 11, 2018 at 6:04 am

    It is a progressive tax so $50,000 tax would be closer to $6,000 or an effective tax rate of 12%.

  • Reply Negosav Stosic January 15, 2018 at 5:56 pm

    62k for that, yike!

  • Reply Ky Truong January 16, 2018 at 12:19 am

    Thank you. Your're a great guy.

  • Reply Jonathan Ma January 20, 2018 at 4:58 pm

    Hi, is the commute one way or round trip? Thanks for the great tool.

  • Reply Matt Garcia January 21, 2018 at 5:41 am

    Affordable to the masses Elon said :/

  • Reply chazzico January 22, 2018 at 4:00 am

    Hey ben can you update this video if you find any changes. Thanks in advance

  • Reply unclebugspayton January 25, 2018 at 10:36 pm

    52k? I bought my 2015 m6 for for cheaper

  • Reply Dragan Zaric January 26, 2018 at 6:30 am

    Please stop mispronouncing Tesla. There is no (z ) sound in it…it is pronounced /tesla/!

  • Reply Surfer Dude January 26, 2018 at 2:30 pm

    if you cannot pay cash you cannot afford it period.

  • Reply Frank Parth February 9, 2018 at 5:55 am

    Resell value?

  • Reply Kyle February 16, 2018 at 9:23 am

    $1,219 a month😱for nothing but a premium upgrade, the cheapest insurance I can find is ~$420, rip

  • Reply Aaron Plays Nintendo February 21, 2018 at 3:28 am

    The "affordable" Tesla still costs more per month than my house.

  • Reply Grandma Ruth February 26, 2018 at 4:42 am

    Get to the damn point first. Then do all the explaining.

  • Reply BIG SHARK February 28, 2018 at 10:45 pm

    wish I could get a chance to drive one of these.

  • Reply Kliq Only March 4, 2018 at 7:19 pm

    What

  • Reply illriginalized March 8, 2018 at 12:25 pm

    LMAO $1K+ month for a car? Wow.. I will always stick to Toyota. Hands down.

  • Reply nyan FPV March 10, 2018 at 11:32 pm

    Include a option for commute in kilometers.

  • Reply ValueOfNothing March 13, 2018 at 1:59 am

    What about the eyestrain and carpal tunnel you get by driving your car with a glorified laptop?

  • Reply Jay G. March 13, 2018 at 5:02 am

    You will have to buy one of these every three years like your iPhone. You will never get rich for retirement buying these!

  • Reply jaeguerra909 March 20, 2018 at 6:33 pm

    When did tesla become "tezla"

  • Reply Frenchie Horn March 23, 2018 at 4:36 am

    Q U E S E R A S E R A

  • Reply headslo March 24, 2018 at 2:32 pm

    is the federal tax credit a one time deal?

  • Reply Kurt Jensen March 24, 2018 at 8:28 pm

    I think it would be helpful if you could break it down to people who drive gasoline cars like myself and just say how much does it cost to charge the car up

  • Reply Daniel Zambrano March 25, 2018 at 12:15 pm

    What kind of mic are you using on this? Sounds great…

  • Reply mojtaba salehi March 25, 2018 at 5:23 pm

    not worth it,tesla made for rich people,with that payment you can buy house

  • Reply Joe K March 28, 2018 at 1:14 am

    The only number needed is the CPM (Cost per mile). 😉

  • Reply jkrigelman April 4, 2018 at 5:06 pm

    I'm guessing that this is not a 10 year cost of ownership considered in this calculation? This is just raw payments and fueling costs and tax credits.

  • Reply Marvin's Reviews ETC. April 9, 2018 at 11:07 pm

    I’m here watching this like I can actually afford one lol

  • Reply Adventure April 11, 2018 at 10:22 pm

    Rule #1 for EVERYONE: If you cant afford it now, don't buy it.

  • Reply LIBERTY MURF April 13, 2018 at 2:32 am

    "When you free the Data, He becomes more Human & less AI, what a mind bender"

  • Reply Pavel Chumak April 13, 2018 at 2:59 pm

    I did some math when I heard the Tesla Model 3 doesn't have free Supercharger charging, so I was curious about what is the cost per mile.

    The long range model is estimated at 310 miles. Now, that's under ideal driving conditions: driving it modestly, weather not too cold or too hot (which effects battery performance, using the AC or heater, etc). So realistically I'd subtract 10% for margin of error: So now we're at a range of 280 miles.

    The battery is a 75kWh battery, that's a full charge for that ~280 miles. Stay with me folks. I live in Massachusetts, and where I live, it costs 12.57c per kWh, so averaging out, you're paying $9.42 for a full charge.

    So for 280 miles, you're paying $9.42, that comes out to 3.36c a mile. Sounds good, right?

    Well what if you were to buy a second hand hybrid vehicle? (Like I did, a 2004 Prius for $2,300). This vehicle gets 45mpg combined, and gas in my town is $2.40 on average. That's 45 miles for $2.40, a cost per mile being 5.33c, a full tank (11 gallons) costing $26.40.

    So math!

    Prius: $26.40 for 495 miles (43% more than the Model 3)
    Model 3: $9.42 for 280 miles

    A Prius, to go the 280 miles, would cost $14.92.

    Stay with me here.

    Prius: 5.33c per mile
    Tesla: 3.36c per mile

    That's a 2 cent per mile difference in driving the car. So if you drive 30,000 miles a year you're going to save a whopping…$900.

    Savings per milage:

    10,000 miles per year: $300
    30,000 miler per year: $900
    100,000 mile mark: $3,000
    200,000 mile mark: $6,000
    500,000 mile mark: $15,000
    1,000,000 mile mark: $30,000

    So finally, after 1 million miles, I will have saved enough versus a used Prius, to justify buying a Tesla.

    Now, obviously it's different for everyone: If you have solar panels on your house, you can get 'free' charging for life, and not pay a dime. But if you have enough income to afford a house with solar panels, as well as a Tesla, I don't see why you would be frugal with money in the first place.

  • Reply Pilotbound April 16, 2018 at 2:46 am

    Needs to include maintenance costs (filter, tires, alignment, coolant, wipers, ect..) as well

  • Reply Tony Rios Vlogs April 16, 2018 at 4:32 am

    Lmfao this is pathetic

  • Reply qwertyu uytrewq April 17, 2018 at 8:51 pm

    Due to this video I got a good idea how to make some useful tools that people need with little coding

  • Reply T B April 17, 2018 at 11:46 pm

    Kind of a giant marketing joke: Model 3 for about $35, yet in any sort of reasonable config it swells to over $60k? How is that affordable for the masses. Missed its mark.

  • Reply Prowler April 19, 2018 at 12:58 am

    Based on your calculator, I would be spending ~$90 more a month for having a gas-powered car. If the depreciation for model 3 is more than 90 month, comparing it to a comparable BMW 3 series and with its depreciation taken into account, would it still be worth it? Please do the math. Also compare it to whatever car that might be in the same range and equipment. Thanks.

  • Reply Rodolfo Yoshii April 29, 2018 at 1:10 am

    Great calculator, good job there Ben.

  • Reply Pastunes Music May 9, 2018 at 5:42 am

    Love the cost calculator, hate that this video autoplays on the calculator every time you reload the page, on mute, at the bottom of the page so you don't realize for several minutes. Really sleezy and not okay.

  • Reply Popeye Gordon May 12, 2018 at 6:28 pm

    My truly sustainable solar powered vehicle costs me $300/yr to own and operate. No insurance or license required, hell, I don't even need to plug it in to charge, the sun takes care of that.

  • Reply Capitan Andy May 13, 2018 at 10:34 am

    Hi…Ben!!! i write to you from italy….but is better model 3 or model S???….because sedan comfort is much better on model S….no???

  • Reply Violater 702 May 13, 2018 at 6:06 pm

    Lol I don’t even know how much I’m supposed to pay
    Taxes are auto taken out for anyone who works

  • Reply Violater 702 May 13, 2018 at 6:07 pm

    He’s talkin self employed shit

  • Reply ArizVern May 26, 2018 at 3:05 pm

    Add to calculate Charge Option: 1 home, 2 solar, 3 super charger.

  • Reply css403 July 2, 2018 at 2:22 pm

    So short story ?
    i didn't even understand a thing

  • Reply Raphael Rozenberg July 4, 2018 at 3:08 am

    Should update the costs of the car since performance, dual motor, etc was released.

  • Reply Cruton_13 July 31, 2018 at 6:10 am

    You need to update the paint cost of Red, it is $1,500, not $1,000

  • Reply awesome Rockstar August 12, 2018 at 12:04 pm

    can you add the full upfront payment instead of a loan

  • Reply Srinivas Visvanathan August 13, 2018 at 1:37 pm

    Thanks for the video. Are there any costs from maintenance? When should we start expecting to replace things? Would be great if you can give a sense of long term cost that includes those.

  • Reply N C August 26, 2018 at 4:58 am

    Off the top of my head here are some items you missed:
    1. an Actual calculation should include cost of renting cars when you have to go somewhere. Our neighbors took a vacation to Lake Tahoe last week, had to leave the Model S at home and rented a Mustang. Last June they took the family to Yellowstone and beyond and had to rent a gas car for 10 days. This inconvenience isn't so bad if you're at the airport,…but up here in the suburbs it's a major hassle and expense.
    2. Those federal tax incentives? They'll be running out on Teslas as early as first quarter 2019. So folks (like me) that waited patiently for 2 or 3 years for the $35k Model 3 will be shit out of luck.
    3. You have to travel a lot of extra miles in an EV, not to mention eat in places and staying in hotels not of your choosing as you have to plan your trip around chargers and the time spent charging. Your trip is not optimized around economy, time or freedom. It may be "adventurous" visiting the Grand Canyon in an EV, but, IF you make it,the trip is really about logistics and not about the park.
    4. cost of towing. People run out of gas they get a ride to the nearest station and bring back a gallon. In an EV, I imagine they have to tow you to some place with a charger.
    5. speaking of chargers: What about the expense of installing a charger at home? at your work? A few grand left out of the calculation?

  • Reply keith kim September 6, 2018 at 7:37 pm

    Thanks for the calculator and explaining the tax credit. In commute, is it one way or both?

  • Reply Tyler Cayri September 19, 2018 at 7:35 pm

    Im about to take delivery of my new m3 in a few weeks. Any suggestions for a nice insurance company? Thanks

  • Reply Joe Mckirdy September 20, 2018 at 9:17 pm

    1000 dollars a month lol. Never going to happen.

  • Reply Bob A Booey October 6, 2018 at 3:09 am

    Great Calculator thank you BTW , the documentation now is $1200 at least for me.

  • Reply Deepu Sasidharan October 23, 2018 at 4:44 am

    Is there way to calculate the monthly electricity usage based on the miles? Not just the cost how much kWh will be used for charging? I am trying to get solar and want to estimate how much additional should be considered for the car.

  • Reply Mark Brocious October 30, 2018 at 9:44 am

    Can you add in the new Mid Range model?

  • Reply Z kai November 3, 2018 at 4:38 pm

    Thx for the tool … a model 3 could cost me $1,3XX a month … I guess its not meant for people in my earning braket YET.

  • Reply Tim Newnham December 18, 2018 at 5:21 pm

    Hahahahaha

  • Reply Danny Prince December 27, 2018 at 6:38 am

    Why should I spend $60,000 on a Tesla over a Mercedes Benz, Lincoln, Cadillac, Ford, VW, Porsche, Audi or whatever other car that is way more fun and more prestigious to drive?

  • Reply nordic Volkan January 9, 2019 at 4:08 am

    Hey Ben, this is a great tool you should add a field in there for "Trade-in a car Value" .Meaning if a Tesla is offering $15K for a trade-in the tool should deduct $15k from the Model 3 price. Thanks

  • Reply blasko229 January 26, 2019 at 8:04 pm

    Long range self driving, should be standard imo, is 1300 a month. Crazy. More than full time daycare.

  • Reply Gus astudillo January 29, 2019 at 11:07 pm

    this was really helpful and even with a 7000 dollars down for the all wheel drive base model (if there is such thing) i cannot afford a 900 dollar plus auto loan. so the WRX is my second choice. at 0nly 300 bucks a month. maybe in 10 more years ill be able to get a tesla. thank you for that link

  • Reply Michael Olivares March 7, 2019 at 12:43 am

    You should update the calculator now that the standard range model 3 is out.

  • Reply Ray Bravo March 11, 2019 at 11:02 pm

    Hey Ben. May you please update this with the newer trims of the Model 3?

  • Reply Josh Sanders April 19, 2019 at 4:27 pm

    I dont think this calculator is accurate in my area, its a lot cheaper

  • Reply Brian Smith April 19, 2019 at 6:10 pm

    Is this still accurate? Doesn't seem to match the options on live Tesla site at the time I'm writing this.

  • Reply Ravi Yadav April 24, 2019 at 1:39 am

    Add an option to switch from metric to imperial and vice versa…

  • Reply David Guy May 16, 2019 at 7:41 am

    Do you start paying interest immediately after paying your deposit, or do the payments begin after you receive the car?

  • Reply N D. May 18, 2019 at 2:03 am

    He forgot tires and maitnenece cost

  • Reply N D. May 18, 2019 at 2:05 am

    What's the tax rate? State sales tax?

  • Reply JC D May 28, 2019 at 3:50 pm

    Any thoughts on how much charging would be if one has a solar system?

  • Reply Nicholas Jay July 2, 2019 at 10:35 am

    Here's a good fix for the calculator. Don't make Teslas so fucking expensive nobody normal can buy one. Look forward to owning my first Tesla 20 years from now. When the average person can afford it. If ever. I hope this company needs this capital to develop tech and get to that point and its not just pure greed.

  • Reply Mark's Tech July 15, 2019 at 10:42 pm

    ill save you guys 5 min; … it costs alot. just alot. lmao. with 5k down, even im looking at close to 1k a month w/insurance.. ouch. i guess ill go cry in the corner.

  • Reply potpal September 10, 2019 at 4:06 pm

    Hi, can you do a video break down on how you can calculate your daily/monthly charging cost at home for Canadians. I'm really confused by the whole thing. Thanks

  • Reply Reynaldo Mendiola November 12, 2019 at 5:40 pm

    Hello,
    I’ve been watching your videos for quite sometime. I really want a model 3 but I’m stuck with an upside down BMW X1, any suggestions.
    Thank you

  • Reply TV November 20, 2019 at 9:13 pm

    is it true only fggtz drive teslas? i want to drive one but dont want to be a ffgt

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