The True Cost of Owning a Tesla Model Y

Cost example updated October 24, 2026

Start with the price you will actually pay

For a representative example, use a 2026 Tesla Model Y Long Range at $46,380 including destination, a $44,990 base price plus a $1,390 destination charge. Long Range is the volume version here (Edmunds marks the $44,990 Long Range its most popular Model Y), not the quicker Performance trim, which starts near $57,490. Paint, wheels, and driver-assistance options move the number fast, so replace this starting point with a written quote for the exact car you are considering.

One naming wrinkle, stated plainly: sources disagree on what the $44,990 Long Range is. TrueCar describes it as dual-motor all-wheel drive, while fueleconomy.gov lists a Long Range rear-wheel-drive version at the same $44,990, and Edmunds lists a separate Long Range all-wheel-drive version at $48,990. This example uses the $44,990 price either way and the rear-wheel-drive efficiency figure below. If the car you order is the $48,990 all-wheel-drive version, the price, the loan, and the electricity lines all go up, rerun them before deciding.

The down payment does not make the Model Y cheaper; it changes how much you finance. With 10% down ($4,638), an 8% APR (the yearly interest rate on the loan) and 60 months, and with 7% sales tax ($3,247) and $900 in title and dealer fees rolled into the loan, not paid separately up front, this example finances $45,889 at $930 a month, and the loan costs about $9,939 in interest over five years.

Charging: cheap at home, dear on the road

There is no gas line on this page, and no oil-change line either, an electric car has no engine oil to change. What replaces gas is electricity, measured in kilowatt-hours (kWh, the unit on your electric bill). The Long Range rear-wheel-drive Model Y is rated 25 kWh per 100 miles by fueleconomy.gov, which works out to 4.0 miles per kWh. At 12,000 miles a year that is 3,000 kWh a year.

The charging mix in this example is 85% home charging and 15% public fast charging. Home electricity is priced at 18 cents per kWh, the U.S. Energy Information Administration puts the 2026 residential average at 18.21 cents and the August 2026 average at 18.16 cents, so 18 cents is a rounded national figure, not your local rate. Public fast charging is priced at 45 cents per kWh, the middle of the 40–50 cent range published for Supercharger-style pricing. Blended, that is 22.05 cents per kWh: roughly $662 a year, $3,308 over five years.

The mix matters more than the car does. Charge 100% at home at 18 cents and five years of electricity falls to $2,700. Lean heavily on public fast chargers and it climbs past the example fast, check your own utility rate and how often you would really charge away from home before trusting any national average.

One more honest note on efficiency: the 25 kWh figure is the official rating. Independent comparisons put a comparably equipped Model Y nearer 27–28 kWh per 100 miles in everyday driving. At 27, five-year electricity rises to about $3,572, $264 more than the example. Cold weather, highway speed, and big wheels all push the real number up.

The value it loses is still the biggest bucket

Depreciation is the plain word for the value a car loses as it ages. iSeeCars puts the Model Y's five-year value loss at 55.4%, it keeps roughly 44.6% of its price. On a $46,380 purchase that means a resale value near $20,685 after five years, or about $25,695 of depreciation, roughly $428 a month.

Other sources disagree, and the gap is wide enough to say out loud: Kelley Blue Book-based figures for a 2021 Model Y land near a 46% loss, while CarEdge lands near 61%. The Kelley Blue Book case would cut this example's total by about $4,360; the CarEdge case would add about $2,597. Tesla's own price cuts have dragged used values down before, so run a second scenario with resale 10% lower (about $18,617), that alone adds roughly $2,069 to the five-year total. Resale here is a planning assumption, not a promise.

Insurance runs higher than a gas SUV

Full-coverage averages for a Model Y cluster between about $212 and $221 a month (NerdWallet: $2,538 a year; Insuraviz: $2,654 a year). This example uses $220 a month, or $13,200 over five years. Two other published sources sit far higher, Insurify near $396 a month and Insurance.com near $320 a month, which is why this page does not present $220 as settled. Repair costs for sensors, cameras, and specialized parts are part of why Teslas insure dearly. Get quotes on the exact trim with matching deductibles and limits before treating any average as yours.

Upkeep is lower, but tires still count

With no oil changes, spark plugs, or exhaust work, routine upkeep is genuinely lighter: cabin filters, wiper blades, brake-fluid checks, and tire rotations. Edmunds' 2026 Model Y cost-to-own work puts five-year maintenance at $2,299 plus $2,364 in repairs. This example allows $1,100 a year, or $5,500 over five years, all-in, the Edmunds figure plus room for a set of tires inside 60,000 miles, which the Model Y's weight and instant acceleration wear through faster than a gas car's tires. Price a tire set for your wheel size; it can turn a cheap year expensive.

Separately, this example includes a $1,200 one-time home charger and installation allowance, the same allowance used on the Model 3 cost page. If a suitable charger is already in place, that line is $0, subtract it from the total. If your home needs an electrical upgrade, it could cost more.

What about tax credits?

No federal or state EV credit is subtracted anywhere in this total. The former federal New Clean Vehicle Credit is not available for vehicles acquired after September 30, 2025, per IRS guidance quoted on the Model 3 page. State, local, or utility rebates may still exist, and some have income, price, or charger-installation rules, but count only a benefit you have confirmed for your exact purchase and location, as its own separate line, never baked silently into the price.

The full five-year example

Every figure below comes from the site's own calculator math. The stated inputs are: 2026 Tesla Model Y Long Range, $46,380 price including destination, 10% down ($4,638), 8% APR, 60 months, 7% sales tax, $900 in title and dealer fees, tax and fees rolled into the loan, 12,000 miles per year, 25 kWh per 100 miles, 85% home charging at 18 cents per kWh and 15% public charging at 45 cents per kWh, $220 per month insurance, $1,100 per year maintenance, $1,200 home charger allowance, $20,685 resale value after five years.

• Depreciation (the value it loses): $25,695 ($46,380 minus $20,685 resale)
• Insurance: $13,200 ($220 x 60 months)
• Electricity: $3,308 (12,000 miles / 4.0 miles per kWh x 22.05 cents blended x 5 years)
• Maintenance and tires: $5,500 ($1,100 x 5 years)
• Home charger allowance: $1,200 (one time; $0 if already equipped)
• Tax, fees and interest: $14,086 ($3,247 sales tax, $900 fees, $9,939 loan interest)

That totals roughly $62,989, or about $1,050 a month. Notice what that says about the $930 payment: on this car the payment is about 89% of the average month's true cost, and during the loan years the cash actually going out is the payment plus insurance, charging, and upkeep.

Formula

The five-year total is the sum of six buckets: depreciation, insurance, electricity, maintenance, charging equipment, and tax, fees and interest. Depreciation is the $46,380 price minus the $20,685 resale value after five years, which is $25,695. Insurance is $220 a month times 60 months, which is $13,200. Electricity is 12,000 miles a year at 25 kWh per 100 miles, which is 3,000 kWh a year, charged 85% at home at 18 cents per kWh and 15% at public chargers at 45 cents per kWh, which is about $662 a year, or $3,308 over five years. Maintenance is $1,100 a year times 5 years, which is $5,500. Charging equipment is a one-time $1,200 allowance. Tax, fees and interest is 7% sales tax on $46,380, which is $3,247, plus $900 in title and dealer fees, plus about $9,939 of loan interest, which is $14,086.

Added together, $25,695 plus $13,200 plus $3,308 plus $5,500 plus $1,200 plus $14,086 equals $62,989, or about $1,050 a month. The amount financed is the $46,380 price plus $3,247 sales tax plus $900 in fees, minus the $4,638 down payment, which is $45,889. The tax and fees are rolled into the loan. At 8% APR over 60 months, the payment on $45,889 is $930 a month, and the loan costs about $9,939 in interest over five years.

For comparison, the EV vs. gas guide runs the same kind of math against a gas car, and the Model 3 cost page shows the smaller Tesla sibling on the same pattern. Shopping the Model Y against a gas SUV? The Car Showdown runs any two vehicles through the same buckets side by side.

Calculation transparency

Jurisdiction. United States. Sales tax, titling, registration and insurance rules are set by your state, so your exact numbers depend on where you buy and register the car. The 7% sales tax and $900 in fees in this example are planning figures, not any one state's actual rates.

Rules and time period. Five years, 12,000 miles a year, 8% APR, 60 months, 10% down. Electricity is 25 kWh per 100 miles, charged 85% at home at 18 cents per kWh and 15% at public chargers at 45 cents per kWh. The resale value is a planning assumption, not a forecast.

Scope and limitations. Educational estimate only. Insurance and maintenance are planning figures, not quotes. Get a real quote for the same trim, coverage and loan before you decide.

Sources disagree on the Model Y's five-year value loss: iSeeCars' 2026 study puts it at 57.8 percent, CarEdge puts it at 61 percent, and Kelley Blue Book's work implies about 46 percent, so the 55.4 percent figure used here is kept as a planning assumption, not as a current reading. The $44,990 Long Range price is described as all-wheel drive by TrueCar and as rear-wheel drive by fueleconomy.gov, with a separate all-wheel-drive Long Range listed at $48,990, and the example price is kept as printed. Edmunds' cost-to-own figures for the Model Y mix trims: the $2,299 maintenance figure is for the base rear-wheel-drive model while the $2,364 repairs figure is for the Long Range all-wheel-drive model, so the $5,500 maintenance allowance used here is kept as printed.

Source links checked November 6, 2026. Figures: Edmunds 2026 Model Y Long Range price, $46,380 including destination; EPA energy use, 25 kWh per 100 miles; Insuraviz Model Y average, $221 a month; NerdWallet Model Y median, $2,538 a year; Edmunds 2026 Model Y cost to own, maintenance $2,299 plus repairs $2,364; EIA 2026 residential electricity average, about 18.2 cents per kWh, against the 18 cents used here.

Primary sources: Edmunds, 2026 Tesla Model Y; fueleconomy.gov, EPA fuel economy ratings; Insuraviz, Tesla Model Y car insurance; Edmunds, 2026 Tesla Model Y cost to own. How the numbers are calculated is written down on the methodology page, and every source is listed on the sources page.

Definitions

Depreciation. The value a car loses over time, the gap between what you pay and what it is worth later. On this page, the $46,380 price minus the $20,685 resale value after five years, which is $25,695.

Resale value. What the Model Y is worth after five years in this example, $20,685. A planning assumption, not a forecast.

APR. Annual percentage rate, the yearly interest rate on the loan. This example uses 8%.

Down payment. The cash paid up front. Here it is 10%, or $4,638.

Destination charge. The fee to ship the car to the dealer. It is $1,390 on the Model Y, and the $46,380 example price already includes it, so do not add it again.

Kilowatt-hour. A kilowatt-hour, the unit electricity is measured in. The Model Y in this example uses 25 kWh per 100 miles.

Home charging. Charging the car at home, at 18 cents per kWh in this example. Public fast charging costs more, at 45 cents per kWh here.

Full coverage. Insurance that covers damage to your own car as well as damage you cause to others, and it is what a lender usually requires while a loan is open. This example uses $220 a month, or $13,200 over five years.

Questions people actually ask

How much does a Tesla Model Y cost per month to own?

About $1,050 a month over five years in this example, $62,989 in total, while the loan payment itself is $930 a month. The gap is insurance, charging, upkeep, and the value the car loses.

How much does it cost to charge a Tesla Model Y at home?

At 18 cents per kWh and 25 kWh per 100 miles, 12,000 miles a year costs about $540 a year on home charging alone. This page's example blends in 15% public charging at 45 cents, which lifts electricity to about $662 a year.

Does the Tesla Model Y still get a federal tax credit?

No credit is counted in this total. The former federal New Clean Vehicle Credit is not available for vehicles acquired after September 30, 2025. Any state, local, or utility rebate has to be confirmed for your exact purchase and location before you count it.

How much value does a Tesla Model Y lose in 5 years?

About $25,695 in this example, a 55.4% loss on a $46,380 purchase, leaving about $20,685 of resale value, per iSeeCars. Other sources range from about a 46% loss to about 61%, so treat resale as the least certain number here.

Is insurance expensive on a Tesla Model Y?

Usually, yes, compared with a gas SUV. Published full-coverage averages cluster near $212–$221 a month, but other sources run as high as $320–$396 a month. This example uses $220 a month; get a quote on the exact trim before relying on it.

Related: See what it costs to charge a Tesla at home, what it costs to install a home EV charger and whether to lease or buy an EV, or browse all models.

Every gap in this example, in one place: the $44,990 Long Range is described as all-wheel drive by one source and rear-wheel drive by another, and a separate all-wheel-drive version lists at $48,990; Tesla's $250 order fee is not included (financing it would add about $304 to the five-year total); the 7% sales tax and $900 title-and-dealer allowance are example figures, and Tesla's direct-sale paperwork differs from a dealer sale; the 18-cent home rate is a national average, not your utility's rate; and resale value is an assumption, not a forecast.