When considering the cost of a Tesla, many people imagine high-end models packed with cutting-edge technology. However, Tesla has always prided itself on providing options for a broader market, especially with their smaller, more affordable electric vehicles. But how much does the smallest Tesla actually cost? The answer isn’t as straightforward as you might think because Tesla’s pricing can vary widely depending on various factors, such as trim levels, location, and additional features. In this article, we’ll break down the costs of Tesla’s smallest vehicle to help potential buyers understand what they can expect when making a purchase.
Tesla’s Smallest Vehicle: The Tesla Model 3
While the term “smallest Tesla” might conjure up images of a tiny, compact car, Tesla’s entry-level vehicle is actually the Tesla Model 3, which is far from being a mere subcompact. Launched in 2017, the Model 3 has quickly become the most popular and affordable option for Tesla buyers.
This all-electric sedan combines performance, technology, and style in a way that’s hard to find in other vehicles at its price point. Let’s take a deeper look at the cost of the Model 3, including its base model price, features, and potential additional costs.
Base Price of the Tesla Model 3
As of the most recent pricing information available, the base price of the Tesla Model 3 starts at approximately $40,240 in the United States for the Standard Range Plus version. This model comes with a range of 263 miles on a full charge and can go from 0 to 60 mph in 5.3 seconds, making it one of the most affordable performance sedans on the market.
It’s important to note that the base price of the Model 3 can vary depending on the trim level, region, and specific features chosen. The Standard Range Plus is the least expensive configuration and provides the essential features without the premium upgrades.
Trim Levels and Their Costs
Tesla offers a few different trim levels for the Model 3, each with its own unique set of features, performance capabilities, and price points. Understanding these trims can help you determine which version of the Model 3 is best for your budget and driving needs.
Standard Range Plus
As mentioned earlier, the Standard Range Plus is the entry-level version, priced at about $40,240. This trim is ideal for those who want to experience a Tesla at a relatively low price point. It includes all of the essential features, such as Tesla’s renowned autopilot capabilities, a large touchscreen display, and access to Tesla’s Supercharger network.
Long Range All-Wheel Drive
Next up is the Long Range All-Wheel Drive (AWD) version of the Model 3, which is priced at around $47,240. This trim offers a more powerful dual motor configuration and an impressive range of up to 353 miles on a single charge. The Long Range model is also capable of accelerating from 0 to 60 mph in just 4.2 seconds, making it a more robust choice for those who want extra power and range.
Performance Model
For those seeking top-tier performance, the Tesla Model 3 Performance comes in at $54,240. This version takes everything the Long Range AWD model offers and adds a boost in acceleration and overall performance. With a 0-60 mph time of just 3.1 seconds, this is one of the fastest sedans on the market. The Performance Model is also equipped with advanced suspension and sportier handling, making it ideal for driving enthusiasts.
Additional Costs and Customizations
Beyond the base price of the Tesla Model 3, there are several options for customization that can increase the overall cost of the vehicle. These options include different colors, wheel sizes, and premium upgrades. Tesla also offers various software packages, such as the Full Self-Driving (FSD) option, which adds $15,000 to the price.
Paint Options
Tesla offers a variety of exterior colors for the Model 3, including basic options like Pearl White Multi-Coat, Solid Black, and Midnight Silver Metallic. While the basic colors don’t add to the price, choosing premium colors like Red Multi-Coat or Deep Blue Metallic will come with an additional cost of $1,000 to $2,000.
Wheel Upgrades
Another way to customize your Model 3 is through wheel upgrades. The standard wheels come in 18-inch alloys, but buyers can choose 19-inch sport wheels for an additional cost of around $1,500. Larger wheels often provide better handling but can reduce overall driving range due to increased weight and rolling resistance.
Full Self-Driving Capability
Tesla’s Full Self-Driving (FSD) package is one of the most significant optional upgrades, costing $15,000. This package unlocks a suite of advanced autonomous driving features, including Navigate on Autopilot, Auto Parking, Summon, and Traffic Light and Stop Sign Control. While this package offers some of the most advanced driver-assist features available, it’s a major cost consideration for anyone looking to fully automate their driving experience.
Financing and Leasing Options
For many potential Tesla buyers, the upfront cost of the Model 3 can be daunting. However, Tesla offers several financing and leasing options that can help make the vehicle more affordable on a monthly basis. The terms and interest rates vary, depending on credit scores and the size of the down payment.
Tesla’s financing plans typically offer terms of 36 to 72 months, with interest rates varying based on your creditworthiness. Monthly payments for a Tesla Model 3 can range from $500 to $800, depending on the model, configuration, and financing terms.
For those who don’t want to commit to full ownership, leasing may be an attractive option. Tesla offers a lease program that typically runs for 36 months, with monthly payments starting at around $400 to $600 for the Standard Range Plus model. Leasing allows you to drive a new Tesla every few years without the long-term commitment of ownership.
Tax Incentives and Rebates
One of the key factors that can help reduce the overall cost of a Tesla Model 3 is the availability of government incentives. In the United States, federal tax credits for electric vehicles can provide savings of up to $7,500. However, it’s important to note that this tax credit is subject to eligibility requirements and may vary based on your state of residence. Many states also offer additional incentives, such as rebates, tax credits, or reduced registration fees for electric vehicles.
In addition, some local utility companies offer special rebates or discounts on home charging equipment for electric car owners, further reducing the total cost of ownership.
Total Cost of Ownership: More Than Just the Purchase Price
When considering the cost of the Tesla Model 3, it’s important to look beyond the initial purchase price and think about the total cost of ownership over the life of the vehicle. Tesla vehicles are known for their long-term durability and relatively low maintenance costs compared to traditional gas-powered cars. Here are some factors to consider:
Charging Costs
One of the main advantages of owning a Tesla is the ability to charge your vehicle at home. Charging costs will vary depending on local electricity rates, but on average, it costs about $8 to $12 to fully charge a Model 3 at home. Tesla’s Supercharger network allows for faster charging on the go, with costs typically ranging from $0.25 to $0.35 per kWh, depending on location.
Maintenance and Repairs
Tesla’s electric vehicles have fewer moving parts than traditional gas-powered cars, which means lower maintenance and repair costs. The Model 3 has no oil to change, and brake wear is significantly reduced due to the regenerative braking system. Most Tesla owners report spending very little on maintenance, with annual service costs averaging $200 to $400.
Depreciation
While electric vehicles traditionally depreciate faster than gas-powered cars, Tesla vehicles have held their value relatively well. The Model 3 is no exception, with some models maintaining around 60% to 70% of their original value after 5 years of ownership. This means that Tesla owners may experience less depreciation compared to owners of other luxury vehicles.
Conclusion
The Tesla Model 3 offers a compelling combination of affordability, performance, and technology for those looking to enter the world of electric vehicles. The starting price of $40,240 for the Standard Range Plus version places it within reach of many buyers who are looking for an eco-friendly, high-performance vehicle.
While the cost of ownership can increase significantly with added options, upgrades, and taxes, Tesla provides a range of customizable features that allow buyers to tailor the car to their preferences. With the inclusion of various incentives and the long-term savings on fuel and maintenance, the Model 3 offers great value over time.
For those looking for a practical and stylish electric vehicle at a competitive price, the Model 3 stands out as one of the best options in its class. Whether you’re seeking a base model or a high-performance variant, the smallest Tesla offers a price range that makes it accessible to a wide array of buyers.
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