How much is a Tesla?
Purchase and running costs vary depending on the car. Read our guide to find out how much a Tesla costs
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On the face of it, brand-new electric cars can be expensive – especially premium ones. But one of the many joys of buying a used electric vehicle (EV) is the increased affordability.
Tesla is one of the most popular car brands in the world and is known for its incredible vehicles, from the small Model 3 hatchback to the large Model X SUV.
But how much do they cost to buy, run and insure?
How much is a Tesla Model 3?
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The Model 3 is the most popular model Tesla sells in the UK because it’s small yet practical and offers a range of up to 374 miles on a single charge.
Brand-new models are priced between £42,990 and £57,990 at the time of writing. Prices vary depending on which model you choose, as each offers different electric ranges and power figures.
If you opt for a used Model 3, you can expect to pay in the region of £30,000, which is a huge saving.
There are also car finance deals on offer for used electric cars including Hire Purchase (HP) and Personal Contract Purchase (PCP), which are worth looking into if you don’t want to pay for your car outright.
How much is a Tesla Model S?
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The Model S is Tesla’s popular saloon model that closely rivals the Porsche Taycan and is best-known for its advanced technology, interior luxury and performance.
Being the brand’s flagship model, the Model S isn’t cheap when new, with prices ranging between £55,935 and £137,885 for the top-spec Plaid model.
Tesla also announced in May 2023 that it would no longer sell new Model S cars in the UK, keeping sales exclusively to left-hand-drive markets only.
This means the demand for used Model S cars is very high, but used car prices are more reasonable – around £40,000 at the time of writing.
There are, of course, finance deals on offer to help spread the cost.
How much is a Tesla Model Y?
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The new kid on the block is the Tesla Model Y. It’s an electric crossover that offers the interior space of an SUV but with the smaller overall proportions of a large hatchback, making it the ideal choice for most families.
A brand-new Model Y will set you back between £44,990 and £59,990, while a used example can be had for around £40,000 at the time of writing.
This is a significant drop in cost, and car finance packages are available should you wish to spread the cost over time with monthly payments.
How much is a Tesla Model X?
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The largest vehicle Tesla makes (before the long-awaited Cybertruck arrives) is the Model X, which can seat up to seven people and produces up to 1,020hp in the Plaid variant.
Demand for this car has shot up in recent months because, like the Model S, Tesla has decided to no longer sell new examples, meaning used cars are the only way anyone in the UK can have one.
This is good news for buyers because the brand-new cost directly from Tesla was between £73,135 and £148,405.
Find a used example, however, and you can expect to pay between £40,000 and £50,000, signifying a huge saving.
What are the benefits of a Tesla?
The benefits of owning a Tesla drastically outweigh the cons. Not only do you have access to Tesla’s Supercharging Network – one of the best in the world – but you’re also getting a solid electric car with a good range and plenty of poke from those onboard electric motors.
You may pay a slight premium over other EVs on the market, but with a Tesla you know you’re getting a fine vehicle that will keep going for many miles to come.
Maintenance costs
Speaking of running for many miles, Teslas are very reliable cars because EVs have fewer moving parts compared to internal combustion engines.
This means, in theory, there’s less that can go wrong and therefore overall reliability is high.
Charging is another cost you’ll need to consider, and again this can vary depending on where you charge it.
If you use a home wall box charger, it could take hours to top up your battery (unless you’re able to wait overnight).
Other options include using public fast chargers and Tesla’s superchargers, which are the most expensive but can add 200 miles to your range in just 15 minutes.
The cost of an electric car will vary, and you can see Tesla’s vehicle maintenance guide for a more in-depth look at caring for your car.
Additionally, you can opt for cinchCare when buying a car with us to ensure your new pride and joy is in safe hands throughout your ownership.
Insurance costs
The cost of car insurance for your Tesla will largely depend on your own circumstances, as things like your job title, any driving offences and the place you store your car all come into consideration.
Like all cars, Teslas are placed in insurance groups based on factors such as how much they’d cost to replace or repair and the performance of the vehicle.
Cars in higher insurance groups are the most expensive to insure.
Tesla insurance groups:
Tesla Model 3: 48-50
Tesla Model S: 50
Tesla Model Y: 46-50
Tesla Model X: 50
The next best step is to look at the insurance group of the specific model you’re after and get a quote directly from your insurance provider.