The Tesla Model 3 parked in a desert next to a camel.
The Tesla Model 3 is the least expensive model on the market.
Tesla
  • There's a wide range of prices between the most expensive and cheapest Tesla models.
  • There are also other financial considerations to make if you're considering a purchase, including battery and Tesla charging costs. 
  • Tesla changes its pricing frequently for its different models.

Tesla CEO Elon Musk has dropped the prices of Tesla models six times since the start of the year, kicking off Tesla price wars with mainstream car brands like Ford and GM. 

Here's a look at where the pricing stands for each of the models. 

What is the cheapest Tesla model?

The Tesla Model 3 is the cheapest model. The starting price for the Tesla Model 3 is around $40,240 for the Real Wheel Drive, $47,240 for the Long Range variant, and $53,240 for the Performance variant.

The next cheapest model is the Tesla Model Y. The starting price for the Tesla Model Y is around $47,490 for the All Wheel Drive and $54,490 for the Performance model. 

In early 2023, extensive Tesla markdowns on the prices of the Model 3 and Model Y hit the market, making some cost less than the average new car in the US. 

What is the most expensive Tesla model?

Tesla Model S and the Model X are the most expensive models. The Tesla Model S is around $88,490 for the Long Range variant and $108,490 for the Plaid variant.

The starting price for the Tesla Model X: The starting price for the Tesla Model X is around $98,490 and $108,490 for the Plaid variant.

The Tesla Roaster is expected to be the most expensive model when it enters production, at a base price of around $200,000.

Do Teslas qualify for a tax credit?

As part of the 2023 Inflation Reduction Act, some Tesla models are eligible for a $7,500 EV tax credit, while others can receive a smaller credit of $3,750. As of June, three Model Y variants were eligible for full credit while only the Performance version of the Model 3 can receive the full $7,500 credit. The two other Model 3 versions are eligible for half credit. 

How long do Teslas last? 

A big concern for prospective EV buyers is if the battery will need replacing. EV battery replacements could cost anywhere from $5,000 to $20,000, according to Recurrent.

In Tesla's 2021 impact report, it said that the company's battery packs are designed to outlast the vehicle. "We estimate that a vehicle gets scrapped after approximately 200,000 miles of usage in the U.S. and roughly 150,000 miles in Europe," the report said. 

Tesla's batteries are also covered by a warranty. Models have slightly different warranties, but they're generally covered for 8 years or between 100,000-150,000 miles (whatever comes first). 

While EVs as a category do have more frequent problems than other vehicles such as issues with battery packs and charging, Tesla models stand out for their reliability. 

Is Tesla charging free? 

No, Tesla charging isn't free, and the cost varies based on if you charge at home or at one of Tesla's proprietary Superchargers. 

At a Supercharger, charging costs vary based on the speed across four tiers and are based on time — not range or energy added to your vehicle. Charges will also change based on electricity costs. 

On average, a Tesla will charge for about 4.5 cents per mile, according to EnergySage estimates, depending on local electricity costs. A full charge on a level-2 charger will run you about $15.52 on average, the site says, though costs vary for each model. 

The cost of charging a Tesla is more than 3 times cheaper per mile than the cost of fueling a gas-powered car.

EnergySage estimates that it costs $614.95 to charge your Tesla per year. In comparison, gas-powered cars cost an average of $1,850.42 to fuel per year.

Tesla Superchargers also charge an "idle fee" if a car remains plugged in after it is fully charged, in order to serve more customers efficiently. 

Some Tesla vehicles also include free charging, which is sometimes added as an incentive when purchasing. Free charging is also available through Tesla's referral program. 

To get the cheapest charging, you'll need to charge at home. If you already have a 240-volt outlet in your garage (equivalent to level 2), you can simply buy a charger and plug it in. Otherwise, an electrician will likely need to install one for you. Here's what to know about charging Teslas at home.