How Much Does a Tesla Model 3 Cost?

Tesla's affordability has generated a great deal of excitement because initial Tesla's cost more than $60,000, making Tesla more of a high-priced status symbol. While Tesla increased the "Standard Range" base price to $35,400, with a destination fee bringing the cost to $36,600, it is still much more affordable than previous models, making this pioneering all-electric car more accessible to more people.

What Is The Least Expensive Tesla Car?

In April of 2019, Tesla announced that the Standard Range Plus Model 3 had become the least expensive option moving forward. It’s priced at $41,100 and available for ordering online. The car has several features over the Standard Range, including a 240-mile range, navigation, and heated front seats. The more recent price increase puts the Model 3 more in line with the prices of the BMW 3-series and the Mercedes-Benz C-class electric vehicles.

Are There Incentives to Buy a Tesla Electric Car?

In the United States, the federal government's GREEN Act has allocated 200,000 electric vehicle rebates valued at $7,000 per vehicle. Similarly, in Canada, Federal Point-of-Sale Rebates offer up to $8,0000 to car buyers purchasing a Tesla's under an MSRP of $60,000 but can vary by province.

What Is the Range of the Model 3?

Range anxiety is a big deal for people considering electric cars. Model 3s have a 240-mile range on the base, with a “long-range” version offering a 325-mile range.

Are Electric Cards Cheaper Than Gas Powered Cars?

A Forbes review of the Model 3 puts the cost savings on gas at more than $4,300 over six years. The more gas costs, the more EV drivers save, even if electricity rates creep up. ChargePoint reports Tesla owners pay $1 for Level 2 charging to travel 50 miles, compared to $4.76 of gas needed to go the same distance. New American cars in 2018 averaged around 26 miles per gallon or 10 cents to 12 cents per mile. Teslas average 2.9 cents per mile at average electric costs nationwide—so that’s at least a 70 percent savings.

Does Solar at Home Make Owning a Tesla Less?

Indeed, it does. Home solar electric power systems produce electricity at an average cost of only 7-8 cents per kilowatt-hour (kWh), much less than the 13 cents per kWh average national residential electricity.

Do You Need a Special Charger for Electric Cars?

Every Tesla comes with a free Mobile Connector, but that charges frustratingly slow, so much, so it carries the moniker “trickle.” Using a 120-volt plug standard in American homes, the Mobile Connector sets at just three miles per hour.

The Mobile Connector, however, can be upgraded to a larger plug size that provides faster charging. A Tesla owner can charge more rapidly by installing a 240-volt two-phase plug—commonly used for electric stoves and other large appliances.

The more amperage on the circuit, the more quickly electricity is transmitted to the Model 3. Tesla recommends a 40 to 60 amp 240-volt setup for a Mobile Connector to charge at a 30 miles per hour rate. 

The potential advantage of having a Mobile Wall Connector is that if a homeowner moves the required hardware, installation at their next residence will be substantially less costly. 

The 240-volt plugs are not widely available in places where Tesla owners might charge (like garages). So, you will need to have an electrician install the NEMA plug and upgrade it to 240-volts. The cost of the electrician can vary widely—from several hundred dollars to a few thousand dollars—so be sure and get several quotes from qualified electricians.