Can You Afford a Tesla in 2024? | How Much I Pay Per Month

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In this video I am going to be discussing How Much I Pay Per Month (Car Loan, Insurance, Maintenance, and Charging) for my Tesla and if you can Afford a Tesla Model 3 or Model Y in 2024 with all the Hidden Costs.

Topics Covered:

New Tesla
Tesla Cost
Monthly Tesla Payment
Refresh Model 3
Model Y Refresh
Tesla Model Y
Model Y Tesla
Tesla Model 3
Tesla Model Y
Model 3
Model Y
Tesla Performance
Model 3 Performance
2024 Tesla Model 3
2024 Tesla Model Y

#Tesla

[JremiahJones]

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[CaseyHardman]

30-year-old in West Virginia here. I pay $432/month for a brand new 2024 Model Y Long Range, and my insurance through State Farm is $130/month. I got the $7, 500 tax credit, as well as $12, 000 down payment from selling my 2014 Focus ST, bringing my total financed amount to $28, 384 with an APR of 7.17% through Santander, which was the best rate for my DTI and was actually a third-party from applying through Tesla.

[arthurschalick]

I ordered a white Model Y Long Range dual motor in early January 2023 and took delivery on Feb. 14th, 2023. The price with destination and order fee was $54, 630. I got a state rebate of $2, 000 and a trade-in price of $9, 500. Currently in my state there in no sales tax on EVs. With the high loan rates, I sold stock to pay $43, 130 cash for the car. When I filed my 2023 taxes this month, I received a $3, 543 Federal credit as my tax burden wasn't the full $7, 500. That brings the total cost of the car to $39, 587. I now have just under 7, 600 miles on the car and have spent $339 charging at home and $25 at Superchargers. I have had no other maintenance costs.

[turadura]

My 97 civic is still running strong 😂 I payed off my house mortgage. Saved

[danielwill]

I got the Model S plaid+ in may last year, I put down 17k for the car because I secured a 60month loan at 2.95% instead of putting more money down or outright payment, I had it sitting
in my wealthfront HYSA getting me 5.0% back; invested in my portfolio which gives me passive income that pays off the car and keeps in my lifestyle

[EverGone]

1k/month is 5% of your monthly income? damn bro. you make a lot of money. so that means 20k month (lets say pretax). so your salary from work is 240k a year. good assss salary. and that electricity rate is a dream!

[matteo]

I actually enjoy this realistic finance content (same with your hidden expenses video). It is almost always better to finance a car, assuming you can get a good interest rate, because your cash will be better put elsewhere (high interest savings, stocks, other investments, etc.). Most people see "financing" and assume you're living outside your means, but this is just the perception of it.

[gsogymrat]

I bought my white-on-white Tesla Model 3 RWD in March 2023 with a 72-month 5.59% loan and $20K down. I got the $7500 tax refund last week, took some money out of savings, and paid it off. Buying a new Tesla was a big indulgence but I love it. I kept my last car 18 years and I hope the Tesla last as long.

[Steve-wouy]

just get a used Bolt with recalled new battery at $15000, no tax on used EV cars under $30000, about $500 insurance per year. Super efficient on the road, Bolt is the only car with on-par efficiency as Tesla cars, practical 250 miles range, it also has 200 horsepower 0-60 in 6.5 things sells super fast if anyone can get hands on one. Make sure check the VIN for Bolt recall history on battery.

[joelcastillo]

I bought my Model Y LR in May 2022. I gave about 44, 000 down and only financed 20, 000. My note is about $300 per month.

[BurnseysRT]

$660 per month here. Bought my 22 used M3LR for $37, 500 20% down) 6 mo than ago. pay $560 for payment $40 to charge ($0.12 per kw with fees) $60 per month for insurance. I drive about 1200 miles per month.

[OMGWUNSIU]

I will take delivery of my first Tesla in three days. I just bought the model Y rear wheel drive because I paid cash for it and I didn’t want to spend extra money for the other models, but I didn’t want the smaller one. Since I lived down here and South Florida it looks like one of the first things I’m going to have to do is go over to my window tint guy. There’s just a lot of glass there. I paid 42, 000 out the door after the dealer took off the $7500 EV credit that I signed over to them. For that amount of money I think it’s a lot of car . you have a great thanks for the information.

[ivicamaric]

Wooow, that insurance is expensive. I live in Austria and we pay insurance per month $60. In Austria you have three options for Insurance, Basic ($22 for Tesla 2024 SR), +Basic (60$), Premium ($110).
I charge my Tesla also at home for fix price .20c (day or night doesn’t matter) and we have Photovoltaic on our House. That’s big advantage in summer. We paid our car cash, no loan.

[speeedy_rc]

Just picked up a 2022 M3 LR AWD for close to $24k (higher mileage 70k). Stayed under the $25k mark to qualify for the $4k used ev tax credit. $0 down $430 something per month. Plan is to tack on the $4k at the end of the year and refinance the remaining months at a lower rate. Looking to knock it down into the $320-$330 range. Love the car and its been one I've been looking to get over the past 4 years.

[craigwflys]

Just bought a new Model Y (long range AWD) in early May of 2024 all cash out the door (in CA) for $48.6k. Insurance with Mercury is around $2500 a year however by adding to my policy it dropped my premium on my other vehicle by $460 so it's really a difference of about $2080 a year.

[aleckermit]

My personal experience recently getting a 2024 Model 3: Montly fuel cost (lvl 2 charger .5 mile from home) $20, monthly payment (lease) $369, monthly insurance (default Tesla insurance) $83. $472 total monthly cost. For perspective, I came from a 2001 Honda CRV that had a monthly cost of $250 per month (State Farm insurance, oil changes divided across 12 months, and gas from Costco).

[toneperez]

if anyone here gets discouraged, please check out the used lineup at dealerships. Alot of em half the cost and typically around 30k miles. I got my first model 3 used and runs like my new one. Only difference is $30k. Check out the used inventory model 3 and model y lineup at dealerships near you. There's also videos to aid you check them out quickly so u dont get a lemon.

[jdbaker]

If you make 250k a year why don't you just buy it w cash?

[cesargomez]

I have always lease cars. My lease from a BMW 330i 2021 ended. I was paying 600 with 3k down. Insurance was 180 and gas 250.

I got Tesla 3LR red color. 3k down. Paying 500 month insurance with progressive 166 and electricity is like 30bucks monthly. So happy with this car. I’m never going back to combustion cars. Hopefully, in a close future Tesla decides to change the term at the end of the lease to buy the car. It can be worth it.

[logtec]

In the weekend’s where I live, electricity is mostly free, so in one month I pay only around 5 euros. And I drive around 1000 km . Car is model Y Peformance