Current Tesla Model 3 and Model Y prices

Tesla Model 3 prices start around $43,990 for the rear-wheel-drive base model, while the Model Y starts around $47,990 for the rear-wheel-drive version. Both prices reflect Tesla's 2024 pricing structure, though Tesla adjusts prices multiple times per year based on demand, production costs, and market conditions. The prices listed here are the manufacturer's suggested retail price (MSRP) before any destination charges, taxes, or incentives.

These base prices do not include the $1,390 destination fee that Tesla adds to every vehicle. Actual out-the-door cost will also depend on your state's sales tax rate and whether you may have access to for any federal tax credits or state rebates. Tesla does not negotiate prices the way traditional dealerships do — the price you see online is the price you pay, though that price can change without notice.

Key Takeaways

  • Model 3 base price is around $43,990 and Model Y base price is around $47,990, but Tesla changes prices frequently throughout the year.
  • You must add a $1,390 destination fee to the listed price, plus your state's sales tax and any applicable registration fees.
  • The federal tax credit of up to $7,500 may reduce your final cost if you meet income and vehicle assembly requirements, though not all Model 3 and Y variants currently may have access to.
  • Higher trim levels (Long Range, Performance) cost significantly more — typically $5,000 to $15,000 above the base model depending on the variant.
  • Tesla's prices are fixed; you cannot negotiate, but the company frequently runs promotions like reduced interest rates or free Supercharging months.

How trim level affects the price

Both the Model 3 and Model Y come in three main trim levels: rear-wheel-drive (base), Long Range (dual motor), and Performance (dual motor with higher performance specs). The Long Range version typically costs $5,000 to $7,000 more than the base model, while the Performance version adds another $3,000 to $5,000 on top of Long Range pricing. These differences reflect changes to motor configuration, acceleration, top speed, and battery range.

The Model 3 Long Range offers around 350 miles of range compared to the base model's roughly 272 miles. The Model Y Long Range provides approximately 330 miles of range versus the base model's 260 miles. Performance versions prioritize acceleration and handling over range, so they typically deliver slightly less total mileage per charge than Long Range models, though the difference is usually under 20 miles.

Federal tax credit may be able to access and limits

The federal tax credit for electric vehicles can reduce your cost by up to $7,500, but not all Model 3 and Model Y variants currently may have access to. As of 2024, the Model 3 rear-wheel-drive and Long Range versions meet the requirements, while the Model Y rear-wheel-drive and Long Range versions also may have access to. The Performance versions of both models do not currently may have access to for the full credit due to price caps in the tax code.

To claim the credit, you must have a modified adjusted gross income below $300,000 (married filing jointly) or $150,000 (single filer). The vehicle must also be assembled in North America, which both Tesla models are. You can claim the credit at tax time on your federal return, or if your dealer participates in the point-of-sale program, you may be able to explore the credit directly at purchase, reducing what you owe upfront. Check the IRS website or Tesla's current tax credit page to confirm which specific variants may have access to, as the rules change annually.

State incentives and regional price variations

Several states offer additional rebates or tax credits beyond the federal incentive. California provides up to $2,000 for used EV purchases but does not currently offer new EV rebates. Colorado offers a $5,000 tax credit for new electric vehicles, while New York provides up to $2,000 for new EV purchases. Other states like Massachusetts, Vermont, and Connecticut have their own programs with varying amounts and income limits. Check your state's energy office or environmental agency website to see what programs exist in your area.

Tesla's base prices are the same nationwide, but your total cost will vary based on state sales tax rates, which range from 0% (in states with no sales tax) to over 8% in some states. Registration and title fees also differ by state. A Model 3 purchased in California will have a different final cost than the same model purchased in Texas, even before accounting for state-specific incentives.

What affects the real price you pay

Beyond the listed price and destination fee, several factors change what you actually owe. Sales tax is calculated on the full purchase price in most states, though a few states allow you to subtract the federal tax credit before calculating tax. Registration and title fees vary by state but typically range from $100 to $400. Some states charge an annual registration renewal fee for electric vehicles that differs from gas vehicles.

If you finance the vehicle, the interest rate you receive depends on your credit score and the lender. Tesla offers financing through multiple partners, and rates typically range from 4% to 10% depending on your creditworthiness and loan term. If you lease instead of buying, your monthly payment will be lower than financing, but you will not build equity and will face mileage limits (usually 10,000 to 12,000 miles per year) and wear-and-tear charges at lease end.

How to find current pricing and compare options

Tesla's official website shows the current price for each model and trim level in your region. Prices update frequently, sometimes multiple times per week, so the price you see today may not be the price next week. You can configure your exact vehicle on Tesla's site by selecting trim level, exterior color, interior color, wheel type, and optional features like Full Self-Driving capability (currently $12,000 to $15,000 depending on the model).

Third-party sites like Edmunds, Kelley Blue Book, and Cars.com track Tesla pricing trends and can show you historical price changes. These sites also allow you to compare the Model 3 and Model Y against competing electric vehicles like the Chevrolet Bolt, Hyundai Ioniq 6, or BMW i4. If you are considering a used Model 3 or Model Y, Tesla's own used inventory on its website typically shows vehicles priced $5,000 to $20,000 below new, depending on age and mileage.

Financing, leasing, and trade-in options

Tesla offers financing through multiple lenders and typically allows loan terms from 24 to 84 months. Down payment requirements vary by lender but usually start at 10% to 20% of the vehicle price. You can also trade in your current vehicle toward the purchase; Tesla will appraise it on their website or at a service center. Trade-in value is deducted from the total price before calculating your loan amount or down payment.

Leasing a Model 3 or Model Y typically costs $400 to $600 per month for a three-year lease with 10,000 miles per year included. Lease payments are lower than financing because you are paying only for the vehicle's depreciation during the lease term, not the full purchase price. At lease end, you return the vehicle to Tesla with no further obligation, though you may owe charges for excess mileage or damage beyond normal wear.

Frequently Asked Questions

Does Tesla ever have sales or discounts?

Tesla does not discount the vehicle price itself, but the company frequently runs promotions on financing rates, free Supercharging months, or reduced prices on add-ons like Full Self-Driving. Occasionally Tesla reduces the base price of a model across the board, which affects all buyers equally. These price changes are announced on Tesla's website and social media.

What is the difference between the Model 3 and Model Y?

The Model Y is larger and taller than the Model 3 — it is a crossover SUV while the Model 3 is a sedan. The Model Y has more cargo space and higher ground clearance, making it better for families or those who need extra room. Both offer similar range and performance at comparable price points, so the choice depends on your preference for vehicle size and style.

Can I get a lower price by buying used instead of new?

Used Model 3 and Model Y vehicles typically cost $5,000 to $25,000 less than new, depending on age, mileage, and condition. However, used vehicles do not may have access to for the federal tax credit, and you may not may have access to for state incentives. Used Teslas also come with reduced warranty coverage compared to new vehicles, though Tesla's battery warranty is typically eight years or 120,000 to 150,000 miles.

Are there hidden costs I should know about?

Tesla vehicles have lower maintenance costs than gas cars because they have no oil changes, spark plugs, or transmission fluid. However, you will pay for tire replacements, brake fluid flushes, and eventual battery degradation. Insurance for a Tesla is typically 10% to 25% higher than for a comparable gas vehicle due to repair costs. Charging at home costs less than public charging, but installation of a home charger adds $500 to $2,500 to your upfront costs.

What if the price drops after I buy?

If Tesla lowers the price within a certain period after your purchase, you may be able to request a price adjustment or credit. Tesla's policy on this has changed over time, so contact your local service center or Tesla's customer service to ask about current options. Some buyers have received credits toward Supercharging or service, though a full refund of the price difference is not may provide.