Barring the inclusion of some new, sub-$40,000 model to the Tesla lineup, the Model 3 continues its tenure as the brand’s cheapest new EV. What’s more, a recent study holds that the baby Tesla is the “most affordable best-selling car to run” per year. However, cost-to-run doesn’t include the expense of buying your new EV. …
Barring the inclusion of some new, sub-$40,000 model to the Tesla lineup, the Model 3 continues its tenure as the brand’s cheapest new EV. What’s more, a recent study holds that the baby Tesla is the “most affordable best-selling car to run” per year. However, cost-to-run doesn’t include the expense of buying your new EV.
A Self Financial vehicle study asserts that the cheapest Tesla, the Model 3, is America’s ‘most affordable car to run’
The “out-the-door” price of a new or used car is hardly the end of the car ownership formula. Beyond the initial purchase, owners have to account for how much it costs to “run” a vehicle. Consequently, a recent study named the Tesla Model 3 as the “most affordable best-selling car” in America in terms of running costs.
According to Self Financial and data from Forbes Advisor, the average Tesla Model 3 costs around $5,061 to run annually. To arrive at the number, Self Financial weighed factors like “annual fuel or energy costs, annual maintenance costs, annual insurance costs, and annual fees and taxes.”
That number puts the Model 3 just ahead of the “Hyundai Electra,” and its $5,104 running costs. No, you didn’t misread that, the label was wrong in the data. Instead of Electra, we have to award the No. 2 spot to the Hyundai Elantra, the Korean brand’s popular compact sedan.
However, the new, post-facelift Tesla Model 3 “Highland” EV is far from the cheapest car in America. As far as purchase price, that is. At $44,130 after estimated taxes and fees, the base Model 3 is a far cry from the sub-$30,000 Nissan LEAF or the $38,900 Hyundai IONIQ 6.
Still, with the company pivoting more attention to driverless applications like the upcoming Robotaxi and Robovan, the Model 3 remains the most affordable EV in the automaker’s lineup. The Model 3 undercuts its larger sibling, the pre-update Model Y SUV, by around $2,500. We estimate that the new, updated Model Y “Juniper” will start at around $46,000 after taxes and fees.
| 2025 Tesla Model 3 trim level | Starting price (after est. fees and taxes) |
|---|---|
| Long Range Rear-Wheel Drive | $44,130 |
| Long Range All-Wheel Drive | $49,130 |
| Performance | $56,630 |
