
Here's the true cost of buying a Tesla Model 3 - Mashable
- by Mashable
- May 07, 2025
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Brett Williams
Brett Williams is a Tech Reporter at Mashable. He writes about tech news, trends and other tangentially related topics with a particular interest in wearables and exercise tech. Prior to Mashable, he wrote for Inked Magazine and Thrillist. Brett's work has also appeared on Fusion and AskMen, to name a few. You can follow Brett on Twitter @bdwilliams910. Sign Me Up
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The Enhanced Autopilot Package, which currently offers semi-autonomous capabilities, costs an extra $5,000, so that would bring the car up to the $50,000 mark. Full Self-Driving Capability, which isn't even functional at launch with no definite timeframe for activation, is an extra $3,000 on top of that. Your self-driving, long range, non-black Model 3 is now $53,000.
Thrifty customers might be more likely to resist the temptation for the 19-inch sport wheels and the Premium Upgrade Package for the Model 3's interior, but those options are also available. Tack on $1,500 for the wheels, and $5,000 for the luxe interior. A fully-loaded Model 3 goes for $59,500 before tax and title.
Home charging will also cost more
The most difficult cost to estimate for the Model 3 is also one of the most essential: how much will you pay to power your vehicle. Tesla has a few calculator tools that estimate savings compared to gasoline, but the company has casually avoided the fact that most people will need a new, special outlet installed into their homes or garages.
The Tesla Model 3 can technically charge from a standard 120v outlet using an adapter, but it barely gets any fuel that way. Tesla recommends that its customers install a 240v outlet in their homes instead, which can become a complicated process, depending on the setup.
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Credit: Mashable
New Model 3 owners will have to hire a licensed electrician (Tesla offers a database of specially trained professionals for the job), so the cost varies depending on who you call for the job. It ultimately depends on any number of factors, including potential service panel upgrades, home improvements to make room for the system, and relevant permit and inspection fees.
Tesla claims the costs might range from a few hundred to a few thousand dollars, and enthusiastic owners on web forums mostly agree, with the lowest reported estimates for the job coming in around $350 and the highest up to $7,000.
Tesla also sells a line of Wall Connectors for home charging starting at $500. They're not required, but make it easier for people to manage the entire installation process. Although installations can vary widely, our local Tesla shop told us that installing one of the Wall Connectors will likely run new owners about $1,500.
Charging on the road
Charging outside the home might also add to the long-term cost of the Model 3. Tesla once offered free use of its Supercharger network to all owners, but now there are some fees for vehicles ordered after January 15, 2017.
New Model S and X owners are given 400 kWh's worth of Supercharging credits (roughly 1,000 miles) every year for free charging. The Model 3 owners won't be given any credits, so drivers will have to pay for their Supercharging power when they use public chargers.
Rates to charge vary by region, so you can check out your state's estimated cost here. Tesla's calculation tool projects that an extra 1,500 miles driven on a Supercharger will cost drivers about $90.
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Credit: Mashable
There are other public EV charging locations out there, too. Tesla has its Destination Charging option, and third-party providers like ChargePoint offer public stations with partner businesses, which expand the network even wider. Some of those locations even offer free charging, but ChargePoint CEO Pasquale Romano told Mashable that drivers who depend on their public power stations will pay about $539 annually, or about $45 per month at most.
There are other unique factors at play — chiefly Supercharger and body shop expansion and delayed and costly repair concerns — that make buying a Tesla different than any other car on the road.
Tax credit benefit
Tesla and other EV companies have long touted the federal (and in some areas, state) tax credits available for consumers as an incentive to buy their electric cars. The federal tax credit, which has been available since 2010, knocks an extra $7,500 off a car's starting price once applied. Model 3 buyers who qualify can actually depend on a lower cost before tax and title and other incentives: $27,500.
That tax credit might not be available for many prospective Model 3 owners by the time their car is ready for purchase, however. The IRS code stipulates that the credit can only be applied while an automaker has sold fewer than 200,000 qualifying vehicles in the U.S. Tesla's eligibility is dwindling, according to a market estimate by Edmunds that was reported by CNBC.
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Credit: Mashable
Tesla is down to about 79,000 credits, according to Edmunds. That's no small number of vehicles — but Elon Musk's bold manufacturing plan calls for the automaker to pump out 20,000 Model 3s per month by December, and 50,000 per month by the end of 2018. That ramped up production is justified in order to catch up with the total of Model 3 reservations, of which there were roughly 400,000. The credit will likely be maxed out soon in the Model 3's release timeline.
The credit has a year-long phase out period that begins in the first two calendar quarters after exceeding the limit, cutting the incentive in half to $3,750, then in half again for the following two quarters to $1,875.
That means some drivers hoping for an even less expensive shot at the Tesla experience will likely wind up out of luck. So, in short, you should definitely consider all of the upgrades — and especially the cost of installing a home charger — before you finally decide plunk down the money for a brand new Tesla Model 3.
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