What a Tesla Model Y really costs per month
By Mihir · Updated November 2026 · Numbers from the CarBudgetFit calculator
The sticker price is the start. Here is what a Tesla Model Y costs each month once you add the loan, insurance, charging and upkeep, new or 3 years old.
A new Tesla Model Y costs about $1,197 a month to own; a 3-year-old one about $845
The Tesla Model Y is the #5 best-selling vehicle in the US this year, with 265,000 sold from January to September. Charging at home costs about $60 a month for 12,000 miles, versus about $103 in gas for a typical compact SUV. Electric cars lose value faster than gas cars: a 3-year-old Model Y is estimated at about 60% of its new price. That hurts if you buy new, but it makes a used one one of the better deals around. Of the 2 electric cars and SUVs we track, it is the 2nd cheapest to own new; the Tesla Model 3 costs about $76 a month less.
Monthly cost breakdown, new vs used
| New | Used, 3 yrs old | |
|---|---|---|
| Price (mid-level trim) | $46,600 | $28,000 |
| Loan payment | $909 | $552 |
| Insurance | $198 | $183 |
| Charging | $60 | $60 |
| Maintenance and repairs | $30 | $50 |
| All-in per month | $1,197 | $845 |
| Interest over the loan | $8,520 | $6,836 |
Assumes good credit (9.5% APR used, 6.9% new), a 5-year loan, $4,000 down, 6% sales tax plus $600 in fees, 12,000 miles a year, gas at $3.10 and full-coverage insurance at typical rates. Your numbers will differ; the calculator lets you change every one of these.
What salary do you need for a Tesla Model Y?
Keeping all car costs under 20% of take-home pay, a new Model Y needs a salary of roughly $94,000 and a 3-year-old one roughly $64,000. For the more comfortable 15% target, it's about $130,000 for new and $88,000 for used.
Estimated for a single filer after federal tax, Social Security, Medicare and about 3.5% state tax.
By trim level
Going from the base trim to the top trim adds about $270 a month, mostly in the loan payment.
| Trim | New price | All-in / month |
|---|---|---|
| Base | $41,600 | $1,081 |
| Mid-level | $46,600 | $1,197 |
| Top | $53,300 | $1,351 |
Base is the published starting price. Mid-level and top are estimated at about 12% and 28% more.
How your credit changes the cost
On a new Model Y, the difference between excellent and rebuilding credit is about $186 a month, or $11,160 over a 5-year loan.
| Credit | New | Used |
|---|---|---|
| Excellent5.2% / 7% APR | $1,161 | $813 |
| Good6.9% / 9.5% APR | $1,197 | $845 |
| Fair9.8% / 13.8% APR | $1,261 | $901 |
| Rebuilding13.5% / 18.5% APR | $1,347 | $967 |
Loan length, new Tesla Model Y
A longer loan lowers the payment but raises the interest. A 6-year loan costs about $3,537 more in interest than a 4-year loan.
| Loan length | Payment | All-in | Total interest |
|---|---|---|---|
| 3 years | $1,418 | $1,707 | $5,056 |
| 4 years | $1,099 | $1,388 | $6,770 |
| 5 years | $909 | $1,197 | $8,520 |
| 6 years | $782 | $1,070 | $10,307 |
Compared with other electric cars and SUVs
Mid-level trims, all-in monthly cost. Click any model for its full breakdown, or see all 59 models.
| Model | New, all-in | Used, all-in |
|---|---|---|
| Tesla Model 3 | $1,121 | $793 |
| Tesla Model Y this page | $1,197 | $845 |
Reviews
What reviewers and owners say about the Tesla Model Y
Brand reliability from Consumer Reports' predicted reliability survey, published December 2025. Links open each site's latest coverage.
Safety
How safe is the Tesla Model Y?
IIHS awards for 2026 from IIHS releases through October 22, 2026. NHTSA is the federal safety agency; IIHS is funded by insurers and runs tougher tests. Always check a used car's VIN for open recalls.
Put in your own down payment, credit and insurance for the Tesla Model Y.
Open the calculator →Common questions
How much does a Tesla Model Y cost per month?
About $1,197 a month new and $845 for a 3-year-old one, counting the loan payment, insurance, charging and maintenance. That assumes a mid-level trim, $4,000 down, a 5-year loan and good credit. The loan payment alone is about $909 new.
What salary do you need to afford a Tesla Model Y?
Roughly $94,000 a year for a new one and $64,000 for a 3-year-old one, if you keep all car costs under 20% of take-home pay.
Is it cheaper to buy a used Tesla Model Y?
A 3-year-old Model Y costs about $352 a month less to own than a new one, mainly from a lower price. Used-car loans carry higher interest (9.5% vs 6.9% with good credit) and upkeep is higher, which eats into the savings.
Guides by price, salary and payment
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