HomeGuide2022 Tesla Model 3 Vs Honda Accord Hybrid: 5-Year Ownership Cost

2022 Tesla Model 3 Vs Honda Accord Hybrid: 5-Year Ownership Cost

Tesla Model 3 is one of the most popular electric cars available globally and the best-selling model in the Tesla fleet. Keeping and maintaining an electric car requires some effort and money. However, not as much as traditional engine cars or even hybrid vehicles for that matter.

Safe to say, owning an electric car is cheaper than owning any other type of car. But how cheaper still stays a question with many.

A YouTuber with the name Cleanerwatt helps answer the question with a five-year ownership detail on his latest review video. The video is about maintaining Tesla Model 3 and Honda Accord Hybrid for five years and clocking 75,000 miles on them. Let’s break down the math on both model’s cost of ownership.

Model 3 And Honda Accord Hybrid Cost Of Ownership

Tesla Model 3 is the cheapest Tesla car one can purchase. Here the comparison is done between the standard range trim and all-wheel drive of the Model 3. Accord Hybrid EX-L and Touring variant are the closest to Model 3 in terms of performance and features.

2022 Tesla Model 3 vs Honda Accord Hybrid: Ownership Cost

Price of Purchase

Clearly, we cannot relate to the older prices of the purchases of these cars. A lot has changed as global supply challenges and rising gas prices are constantly affecting the current prices. Tesla has increased the prices of its cars significantly.

Tesla is charging almost as much as $46,990 for the lowest model of the Model 3. However, the cost to purchase one was as much as $10,000 cheaper than what it is today.

- Advertisement -

Honda Accord EX-L starts at $38,432, and the other trim Touring costs about $41,500. Moreover, Tesla Model 3 all-wheel-drive costs as much as $55,690.

Tesla Model 3 said costs are without any other inclusions like taxes and fees. You decide to put a new color on your Tesla or do any upgrades would set you back with few another thousand dollars. Delivery cost alone would add about $1,200 to the purchase price.

Charging/Gasoline Cost

Cleanerwatt compares the cost of various factors of maintenance of these cars by calculating yearly costs. So, the per-year cost accounts for 15,000 miles on the respective variant from Tesla and Honda.

As per the available data on energy charging costs, the per annum charging would cost about $550 per year to a Model 3 owner. Honda Accord Hybrid would need about $1,350 to $1,500, as per the current cost of per gallon gasoline.

Tesla Model 3 Vs Accord Hybrid Gas vs Supercharging

Model 3 does a lot better on the per-year cost of energy consumed by both the vehicles have substantial differences.

To explain this further, John in the video turns to the trip planner to calculate the real costs of both variants. Lax to Phoenix is 374 miles, paying about 28 cents every kilowatt-hour charging on Model 3 is way better than 42 cents on Hybrid.

Maintenance Cost

Maintenance cost varies for everyone based on where you take your car for service or if you do most of the things yourself, etcetera. Cleanerwatt uses the data from admins.com for Hybrid five years maintenance cost. He accounts for both cars at $1,200 for a five-year maintenance cost to cover any repairs and incidents.

Tesla Model 3 wiper blades replacements, tire rotation, cabin filter, and service appointments are covered in this cost. However, most of the repairs and incidents would be covered by a comprehensive warranty of Tesla.

Depreciation

Calculating depreciation is probably the most crucial yet complicated factor to calculate between the two makes. According to KellyBlueBook.com, 2017 Tesla Model 3 clocking 75,000 miles would lose about 35 percent of its value. Whereas the 2017 Touring trim would now be worth about 42 percent less in 2022.

The depreciation stats show how promising owning an electric car is in today’s date. Model 3 from Tesla has seen around $10,000 rise in its sticker price. The world is shifting towards energy-efficient and sustainable options. Internal combustion engine or ICE vehicles depreciation value can drastically increase in coming times.

Warranty

Tesla offers a comprehensive 4-year, 50,000 miles general warranty, and Honda offers a 3-year r 36,000 miles general warranty.

Tesla Model 3 Vs Accord Hybrid Warranty

Total Ownership Cost of Tesla Model 3 and Honda Accord

Model 3 is a very popular and successful EV from Tesla, and Honda too is doing well with the long-going success with Hybrid variants of Accord. If you see the comparison of both makes, comes down to some integral factors.

The cost of owning a Tesla Model 3 RWD is about $10,000 more than the Accord Hybrid EX-L. Moreover, the AWD trim of Model 3 would require you to spend about $14,000 over the Touring variant of the Accord Hybrid. Model 3 still makes up for a lot of the extra thousands spend with other deciding factors.

Charging and gasoline prices are also very important factors as the price of gas is soaring high every year. Tesla Model 3 fairs on the energy consumption cost part. Moreover, if one installs some solar panels too that can help save a way lot more and potentially charge the EV for free.

Following is the total cost of owning these cars based on 75,000 miles run and excluding the initial purchase price of all the models:

  • Model 3 RWD is $38,016 or $0.51 cost per mile.
  • Model 3 AWD is $42,990 of $0.57 cost per mile.
  • Honda Accord Hybrid EX-L is $40,246 or costs $0.54 per mile.
  • Honda Accord Hybrid Touring is $42,772 or $0.57 per mile.

Final Verdict

The final rundown of the cost of owning both cars conclude on the Model 3 to be better among both. Calculating the total cost for Model 3 RWD accounts for $38,016, and AWD trim would cost $42,990 for five-year ownership.

Honda Accord Hybrid EX-L totals up for $40,246, and the Touring trim costs $42,772. Model AWD and Touring still share the total cost for five-year ownership. However, the RWD trim of Model 3 does a lot better than the EX-L variant.

Tesla Model 3 might look like a costly feat upfront but owning one is cheaper than owning Honda Accord Hybrid. Including incentives and state, benefits could definitely add in the favor of Tesla 3.

Comment down below to share your views on both the cars from Tesla and Honda. Which one do you think does better, Model 3 or Honda Accord Hybrid?

- Advertisement -
Purnima Rathi
An ardent writer putting life into words worth your time.

27 COMMENTS

  1. My 2022 Tesla model 3 RWD ownership cost are significantly lower. We pay between 9.5 cents and 14.5 cents per kWh for home charging. We received $750 from California, deducted from our price at delivery. We also received a $500 rebate from our local utility to pay the full cost of our level two home charger. There are huge federal tax credits available when you purchase many other brands. Bottom line, buying an EV is very practical if you pick the right vehicle and have a place to park and charge at home utility rates. If you’re depending on superchargers for all your charging, I would not recommend an EV, at least yet.

    One last point; owning an EV is not just about being practical. They are really enjoyable vehicles to drive and own. We love our Tesla model 3, look for excuses to drive it. You will too, test drive one when you have a chance.

    • My sister just spent $0.48 per kWh at a Supercharger on the way to San Diego. The equation is steadily muddying with Elon’s greed.

    • You are correct and I cannot tell how much it cost to drive a car I love . I have saved so much money and headaches from gas cars dealers fleecing your pockets . I drive my Tesla for pleasure work and it has never failed I did notice charging time on vacation 30 minutes 50 miles left to 350 full tank .
      I hope to buy another soon Tesla is it for me and my wife !

    • If is the base model tesla they compare to. Then compare it to the base model Honda accord 26k. Otherwise compare the 38k Honda with all suit up model 3 which is 77k

  2. The 22 Tesla 3 is $47k. The Honda EX L is $35k No way the Tesla is cheaper to own over 5 years. Insurance, taxes registration $12K, is a lot of gasoline.

    I like the Tesla and other variants but inflation has jacked EV ownership up. Look for cars with 7.5k federal rebate

    • This is what I am struggling with. Out the door cost for the model 3 right now is closer to 50K, including taxes, shipping, charger, tag title etc. Very difficult to justify that up front now that they’re is no major rebate, and you can get a decent 40-50mpg hybrid for 32-36 (minus some sort of tax rebate). Would love to drive a Tesla though…will keep crunching the numbers

    • That’s ok. The current administration is working on the continued hyperinflation of fuel and food and whatever else they can destroy, in order to push you in the direction of their agenda.

      Gee! gas is $12 a gallon I guess it makes sense to buy an electric.

      But don’t worry you’re manufactured fear of destroying the planet will push you even further.

  3. I know a lot about nothing but everyone I know who owns a Tesla says the insurance is horrific. That said, all these articles that compare EVs to ICEs or Hybrids, they never factor in or consider cost or insurance.

  4. Very interesting read, thanks.
    We now drive 2 EVs, my Kia Niro SUV leased 8/31/2021 and wife’s Tesla Long Range Dual motors in April. The Kia with only 6500 miles is perfect for local driving mostly, averaging 4.3+ miles per kw or range of 275 miles, spec is 4.0 or 256. Highway at 70 mph still averages 4.0.
    My cost at 75,000 approx $2442 at $.14 kw, installed 2 level charger in garage at $1200 less PA $750 and Peco $50, nets $400/ $6 month over 5 yrs. Car has been terrific value, negotiated lease on $46,000 car less $7500 Fed rebate, can get in lease if dealer passes on, plus $2500 dealer incentive, net around $36,000 at $399 for 48 months ZERO down.
    EV has great acceleration, quiet, handles well for SUV, fully equipped, extremely pleased.
    Wife’s Tesla still new to compare costs wise but ordered in Dec, 2022 arrived April, beat the price increase but just under $60k with red and bright wheels added, makes it a very sporty 4door Pleasure to drive, accelerates And handles like a sports car, very comfortable seats and fold down rear offers good storage. With adapter provided, uses same charger so no additional expense. Tesla service…. Wife misjudges curb in early drive, damages tire and some scrape if wheels. Tesla responded within an hour advised car to be picked up at house in 45 minutes, and was returned 2nd morning, new tire, advised of contact to fix scrape if desired, or body shop expense.
    Almost unnoticeable, ALERT, car backs into wife in parking lot, very minor wheel well bump she thinks, passes on insurance offered thinking $100 job, finds out only authorized shops can work on, comes to $5000 claim with $500 our deductible. Our insurance rates increased maybe 10% is all, in suburb of Philadelphia., State Farm.

    The pleasure of driving these vehicles and knowing you are minimizing to a degree, the carbon output versus gas is worth an economic benefit to all.
    PS there is a 100,000 mile cost breakdown on Tesla 3 on line shows much lower overall costs than your assumptions. Will try to locate if you can’t find it.
    Thanks again for forum, hopes this helps others. My sticker “I Pass Gas”. says it all.

  5. No mention of tires? My previous tesla ran through tires at 3 times the rate of my ICE cars. I was paying more for tires alone than all the maintenance of my ICE cars. The EV tires are more expensive also. If you are putting 15000 miles a year on an EV, you are using the more expensive supercharger rates for electricity also. With all the tire rotations, tire replacements, annual brake maintenance, and AC maintenance, it was in the shop way more, and cost alot more than ICE, I had to go back to my gas car. EV’s are not for everyone. Please tell it like it is.

    • “annual brake maintenance”? What’s this? It’s been third year I own an EV and I haven’t even changed brake pads. My previous X5 needed new pads like every season. And new disks every year.

      • I know right, I had my EV for 2 years I paid 35 buck for battery check and tire rotation and 39 for the same service the second year. Tires still good at 22K. So yea, no issues and I paid .18 cent a kwh at home with the electric company EV Rate. So full charge at 10 to 12 bucks a week. So way cheaper than my Acura TLX. Every 6 month I was paying like $120 for oil change and tire rotation and they always try to sneak in other services.. yea EV all the way for me

  6. Our ’18 Accord LX, which was about $26,000, gets 39 mpg in mixed city and highway driving. It’s range on the highway is six hundred miles. Anyone can service it.
    We spent zero installing a level 2 charger in our garage. It’s still on its first set of tires, although they have close to 40 thousand miles on them. How is a Tesla cheaper than this?

  7. So much bull shit on EV cost. I own 2 and most articles don’t tell the truth. Not to mention the model 3 is fun to drive full of tech that others only dream about. Most of my charging is free or off peak at .062 KWH. More bias Bull Shit

  8. As a lover of both of these vehicles these comparisons are always flawed.

    The single biggest part is that neglect insurance which is much more expensive on the Tesla. Next theg tend to use MSRP for a top of the line hybrid Accord. In reality the Accord hybrid is really somewhere around 5-10k cheaper than quoted. Finally they also ignore the time value of the money. You are spending a huge amount up front for the Tesla hoping to make it back over the long term. You can do a lot with the money saved from buying the Accord in the short term.

    Just being real here. The Accord hybrid is cheaper, period. However… The Tesla provides you ALOT more car, and as an overall value proposition still likely comes out ahead. It’s faster, smoother, better for the environment, etc.

  9. First of all, the comparison of a mid-size Accord cannot be compared to a compact Model 3. You also don’t get leather in the Model 3. Much better comfort in the Accord for that trip from LAX to Phoenix. A fair comparison for the Tesla is the Honda Insight EX hybrid which gets over 55 mpg and costs less than $30,000.

    • I totally agree. I have the exact same combo. IMO below I gave the exact reason, from EMI to practical convenience to savings, model 3 failed big time. Also after reading about the research apers my Son & team was doing at his mechanical & aerospace engineering, good lord, we will be filling the earth with fine rubber dust very soon if all the cars on road are EV rubbing the tires like model 3 does. Literally 3x expensive tire & it get’s 1/3rd the life ! It is a total criminal waste & rubber dust pollution that I feel no article is covering it properly or is it they want to cover up ? I don’t know. After careful comparison between Model 3 & Insights for pretty much the same years of ownership, model 3 is going out soon. Fit & Finish as well. Insight is leap & bound better & it didn’t rattle a bit while I get lot of rattling noise. I was very happy initially with model 3 in city driving but when I took it for long & as years passed, it is simply not worth it. If there was no 7,500 fed credit, then the purchase was deemed even bad. that credit offsets a bit still for the price / convenience / environment, these dead weight EVs rubbing tires crazy needs a drawing board to start from there again I guess.

  10. A fair comparison of these two models might be comparing total cost at 150,000 miles and after you have to replace the battery pack on your EV at a $15,000 cost. Well-maintained Honda engines will go 200,000 miles easy. I love watching the evolution of these EVs The Innovation is fantastic. EVs need another 5 to 8 years of R&D to make them more practical.

  11. I do have a model 3 & Honda insights. both of them about 45k & 38k . model 3 is on the second set of tire which needs another set by this yr safety inspection! All these comparison articles seem to be either lack of information to stupidity at best. they just speak about fuel & maintenance but the worst maintenance is the tire. model 3 tires are high heat rated tires for us weight that costs $1500+ per set while the Honda insights tires is still having almost half tread at 38k miles. when I need to replace it I’ll spend about $600 on a set! when I equated the yearly price model 3 actually seems very exp from downpayment to EMI to hidden maintenance like tires. it is quiet at slow rides but makes whining noise at high speed. after four years we are about to sell model 3. mostly the range anxiety & waste of time for eg my son’s college is 300 mile away. I’ll have to add recharge time before I reach otherwise I’m searching for charging station there instead of spending time with him. the other trip I took insight & I just went to his place & he showed his labs & cars he was working on & had a great time without worrying about recharging & all for the entire day & started back at my convenience & no time waste in less than 4 hr I was back in home. also I don’t remember how many times I left my garage open forgetting that I left the model 3 in charge lol. for these hidden exp & inconvenience model 3 didn’t fit our needs & it’s going out soon.

  12. What happens when you have to pay $10,000 to replace the battery and then throw the old battery in a landfill? Also the electricity EVs use is exactly clean, often coming from nuclear or coal fired plants. I agree we will get there some day but the cost and convenience is not there yet.

  13. My Model 3 is even cheaper than the Honda because I charge at home. Also, there was no mention of the cost of the time spent at the dealership for oil changes, breaks and all the other services an ICE vehicle needs. And did I mention, I can sell my model 3 for $10,000 – $15,000 more than I paid for it!! Go Tesla. All the auto manufacturers wouldn’t be copying them if they weren’t so good.

  14. I’m someone that loves the sound of an engine, that likes tuning a vehicle, I currently own an Elantra N, and sure a Tesla is faster, but the silence kills me, nothing sounds more beautiful that the roar coming from the exhaust!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular