Tesla Model 3: 5-Year Cost to Own
See what a Tesla Model 3 actually costs to own over five years — not the $36,990 sticker, but the full total once you add depreciation, electricity, insurance, maintenance, interest and fees. The calculator below is pre-filled with the Model 3's MSRP and EPA efficiency.
Depreciation is usually the largest cost and is estimated from national averages; adjust the price, mileage and loan terms to match your situation. The Model 3's sourced figures are shown below the calculator.
Calculator
5-year true cost to own
$56,491
$11,298 per year · $0.84 per mile
Per month
$942
Loan payment
$706
Resale value
$20,344
Depreciation
$16,646
Amount financed
$35,209
Total miles
67,500
Where your money goes over the years
- Depreciation$16,646 · 29%
- Fuel / energy$10,004 · 18%
- Insurance$10,490 · 19%
- Maintenance & repairs$6,000 · 11%
- Loan interest$7,122 · 13%
- Taxes & fees$6,229 · 11%
Defaults use national averages (AAA, EIA, FHWA); change any field to match your situation. Depreciation is an estimate — a specific model can hold value better or worse.
The Tesla Model 3’s numbers
| Figure | Value | Source · verified |
|---|---|---|
| Starting MSRP2026 Model 3 RWD (price varies by trim). | $36,990 | Manufacturer MSRP (base trim, excl. destination) · 2026-11-07 |
| EPA efficiency2026 Model 3 RWD, EPA ≈25 kWh/100 mi. | 4 mi/kWh | EPA fuel economy (combined) · 2026-11-07 |
| 5-year cost to ownModeled estimate — Modeled on the AAA Your Driving Costs 2026 basis (5 yrs / 15,000 mi/yr, 6% sales tax, 7.5% APR) using the Tesla Model 3's MSRP and EPA efficiency. Depreciation uses the national-average curve (~45% over 5 years). | $52,662 | AAA — Your Driving Costs 2026 · 2026-09-15 |
Per mile ≈ $0.70 · estimated resale after 5 yrs ≈ $20,344.
Other Tesla models
Calculation Formulas
The six ownership buckets summed over the years you keep the car. Depreciation is the purchase price minus the estimated resale value at the end of the period.
Resale value is modeled with an elevated first-year drop (default 20%) and a steady decline after, calibrated to a 5-year loss (default 45%).
Example:
A $40,000 car retaining 55% after 5 years is worth about $22,000, so depreciation ≈ $18,000 — usually the single largest cost.
P is the amount financed, r is the monthly rate (APR ÷ 12), and n is the term in months. This is the standard fixed-rate loan formula U.S. lenders use.
Energy cost scales with how much you drive, your efficiency, and local fuel price.
Key Figures
| Figure | Value | Description |
|---|---|---|
| Avg. annual cost (new) | ~$12,000/yr | AAA Your Driving Costs, 15,000 mi/yr average across vehicle types. |
| Default mileage | 13,500 mi/yr | Approx. U.S. average per driver (FHWA). |
| First-year depreciation | ~20% | Typical new-vehicle first-year value loss. |
Note: Results are estimates for planning purposes. Rates, fees, taxes, and insurance vary by lender and location — confirm exact figures with a licensed professional before making financial decisions.
Standards & Sources
Last verified: November 2026
- AAA — Your Driving Costs
The framework and category breakdown for vehicle ownership cost; AAA reported an average above $12,000/yr for a new vehicle in 2025.
- Truth in Lending Act (TILA)
Lenders must disclose APR, the figure used here for the financing cost; compare offers on APR, not the advertised rate.
How to use this calculator
- The Model 3's MSRP is pre-filled — set your down payment, APR and loan term.
- Enter how long you plan to keep it and your annual mileage.
- Adjust running, insurance and maintenance costs if yours differ.
- Read the Model 3's five-year cost to own, per year, per month and per mile.
Frequently Asked Questions
What is included in the true cost to own a car?
Six buckets: depreciation (the value the car loses), loan interest, fuel or electricity, insurance, maintenance and repairs, and taxes and fees. Depreciation is usually the largest and the one buyers overlook.
Why is depreciation the biggest cost?
A new car typically loses around 20% of its value in the first year and close to half within five years. You never get a bill for it, but it is real money — the gap between what you paid and what the car is worth when you sell.
How much does the average car cost per year to own?
AAA has reported an average above $12,000 a year to own and operate a new vehicle driven 15,000 miles. Your number depends heavily on the car, your mileage, and your insurance and fuel costs.
Does a cheaper car always cost less to own?
No. A low sticker price can hide fast depreciation, poor fuel economy, or high insurance and repair costs. Comparing the five-year total cost — and the cost per mile — is the only way to know.
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