The Model 3 is the cheapest Tesla currently available to buy. While anyone looking to pick up a Tesla at the most affordable price will want to go with this electric vehicle (EV), that’s not to say it is cheap in general. With Tesla EV prices ranging from $38,000 to well over $100,000, a Tesla is not exactly a cheap car purchase to begin with.
Although Tesla electric vehicles are expensive, they do come with plenty of features and selling points that aren’t found on other cars. This is one of the reasons why the company’s lineup has proven to be so popular. Of course, it also helps that they come with Full Self-Driving (FSD) software (if the buyer pays extra to enable). Even though it is currently only available in beta, FSD could be what really sets Tesla’s vehicles apart from the competition in the future.
The Tesla Model 3 costs $37,990 if purchased outright. Technically, the Tesla website advertises the price as low as $30,190, but that’s dependent on receiving select savings, such as the California Clean Fuel Reward, as well as taking into considering any savings that might be had by not using gas. Either way, the price of the Tesla Model 3 is $37,990, and that’s excluding applicable taxes and fees.
For those that would prefer to lease the vehicle, the Model 3 costs $371 per month along with a $4,500 down payment, providing the lease is for 36 months and the expected maximum usage is 10,000 miles per year. Altering either the duration, the miles per year or the down payment will change the monthly lease price of Tesla’s cheapest electric vehicle. Alternatively, if a loan through Tesla is wanted, then the monthly price comes in at $497, along with a $4,500 down payment and a $100 order fee. Again, this rate is based on a 72-month loan, with the monthly cost changing if any adjustments are made to the down payment or length of loan.
The Price Is Just The Start
Besides the idea of owning a car that could, eventually, drive the owner around by itself, one of the main benefits of opting for an electric vehicle is the after purchase savings, such as not using gas and the expectation fewer maintenance repairs will be needed. However, the price quoted is simply the start. The actual type of Tesla and experience a buyer ends up with is highly dependent on how cheap they want it to be. Or, more specifically, what features and customizations they are happy to pass on.
For example, the $37,990 Model 3 price is for the Standard Plus rear-wheel drive model in Pearl White with 18-inch Aero wheels and an all-black interior. Changing any of these aspects will increase the price and changing them all with add quite a lot to the final cost. Likewise, the base price only includes Tesla’s Autopilot and not the Full Self-Driving upgrade that is so often in the news. The FSD upgrade alone adds $10,000 to the final price. To sum up just how expensive the Model 3 can become, adding FSD, an upgrade to the dual motor all-wheel drive Performance model, red paint, as well as the black and white interior, the price for Tesla’s cheapest electric vehicle is $66,490, plus taxes and fees.
Source: Tesla