Tesla has been a game-changer in the automotive industry, with their electric vehicles offering exceptional performance and cutting-edge technology.
One of their most popular models is the Tesla Model Y, a crossover SUV that boasts impressive range, acceleration, and safety features. However, many potential buyers are curious about the maintenance cost of owning a Tesla Model Y.
As car ownership costs continue to rise, consumers are increasingly paying attention to the total cost of ownership when considering a new vehicle. This includes factors such as fuel costs, maintenance and repair expenses, insurance premiums, and vehicle depreciation over time.
Each of these factors can vary greatly between different car models, making it essential to choose a vehicle that aligns with your long-term budget.
In this article, we’ll explore the various factors that affect Model Y’s maintenance cost and whether it’s worth the investment.
Tesla Model Y Overview
By considering the total cost of ownership, consumers can make informed decisions that factor in both the upfront purchase price as well as the long-term costs of owning and operating a vehicle. The YouTuber Kevin’s long review help to give an insight on what are the cons to buy Model Y. However, another comparison review of YouTuber Cleanerwatt helps you get a clear perspective of the ownership cost of the EV.
As a father with small children, Kevin found the added space of the Model Y to be a game-changer. However, Kevin’s extensive experience in the automotive industry means he was not solely focused on Tesla’s offerings.
Kevin normally does reviews of phones and other tech stuff but came up with a Model Y review because of his personal experience of its ownership.
Tesla Model Y Maintenance Cost
One of the significant advantages of owning an electric vehicle (EV) like the Tesla Model Y is the lower maintenance required compared to traditional gasoline cars. With fewer moving parts, EVs are generally easier to maintain and have a lower risk of breaking down.
Tesla offers free maintenance for the first year of ownership, which covers basic services like tire rotations and brake fluid replacement. However, after the first year, Model Y owners will be responsible for maintenance costs.
The Tesla Model Y, a crossover spinoff of the popular Model 3 sedan, was introduced to the American market in 2020. With a taller roofline, longer overall length, and optional third row of seats, the Model Y is designed to cater to Americans’ preference for crossovers. Although it shares many features with the Model 3, the Model Y has remained mostly unchanged since its debut four years ago.
Price
The 2023 Tesla Model Y is available in three different trims: All-Wheel Drive (AWD), Long Range (LR), and Performance. When compared to the Model 3, the base Model Y AWD trim has a significantly higher suggested retail price. With a price tag of $51,630 (including the $1,390 destination and $250 order fees), it may be more expensive than some other electric vehicles on the market.
- Model Y Base Trim $47,240
- Model Y Long Range $50,240
- Model Y Performance $54,240
Kevin The Tech Guy, a popular YouTuber in the automotive and technology space, is no stranger to Tesla ownership. Having previously owned a Model 3 and even trading it in for a Model X for a week, he has experienced first-hand the features and capabilities of Tesla’s vehicles.
According to Kevin, the Model Y is a near-perfect vehicle, combining the performance and driving dynamics of the Model 3 with the practicality and versatility of the Model X. As a midsize crossover, the Model Y offers ample interior space and cargo capacity, making it a more accommodating option for families or those needing extra storage.
Maintenance Cost
While owning a Tesla can be an exciting experience, it’s important to be aware that unexpected costs can arise. Tesla tends to market its cars towards early adopters and luxury car enthusiasts, which can mean that unforeseen alterations or long-term concerns may need to be addressed. There are also common questions about the reliability, range, and cost of electric vehicles, including Teslas.
Here are the stats according to Edmunds ownership costs of 2022 Model Y Long Range based on 15,000 miles a year and five-year ownership:
- 5-year maintenance cost: $2,394
- 5-year repairs: $2,103
Stats for two-year ownership and total 30,000 miles based on Edmunds ownership costs of 2022 Model Y Long Range:
- 2-year maintenance cost: $293
- 2-year repairs: $0
Edmunds’ Model Y maintenance review revealed some positive findings for those considering buying a Tesla Model Y. The testing showed that, like other electric vehicles, the Model Y requires fewer repairs over time than traditional gas-powered vehicles.
During Edmunds’ two-year, nearly 30,000-mile testing period, the Model Y required only one out-of-warranty fix: a flat tire that was taken care of by Tesla for just $78.
This is a remarkably low price for maintenance costs over three years of owning a luxury car and suggests that the Model Y could be a cost-effective option for those in the market for an electric vehicle.
The Tesla Model Y has a reputation for requiring fewer repairs than gas-powered cars, which is a benefit of owning an EV. However, if your Model Y does need a major repair, it can be costly. Tesla repair prices are typically 27% higher than those of gas cars, partially because the company doesn’t mass-produce parts and is against the third-party right to repair.
According to Edmunds’ review, the Model Y’s actual range is slightly lower than its advertised range, coming in at 316 miles per charge instead of the advertised 326 miles. While the difference may not be significant, it can result in more frequent charging and higher costs overall.
Cleanerwatt, the YouTuber, analyzing the true cost of ownership for various electric vehicles, has released its findings on the Tesla Model Y Long Range. After considering factors such as depreciation, fuel costs, maintenance, and insurance.
Cleanerwatt has determined that the Model Y Long Range has a true five-year cost of ownership of $46,904, which works out to 63 cents per mile. While this cost may seem high, it is quite competitive compared to gas-powered vehicles in the same class.
In fact, the Model Y’s low maintenance and fuel costs help offset its higher initial purchase price, making it a smart choice for those looking for a long-term, cost-effective vehicle.
Below is the Tesla Model Y Maintenance cost after 1 year:
Factors Affecting Tesla Model Y Maintenance Cost
Battery Health
The battery is one of the most critical components of an EV, and maintaining its health is crucial to ensuring the vehicle’s longevity. Tesla’s batteries are designed to last a long time and have a warranty of up to eight years or 150,000 miles, depending on the Model Y’s version. However, if the battery’s health deteriorates, it may need to be replaced, which can cost thousands of dollars.
Tire Replacement
Tires are an essential component of any vehicle and require periodic replacement. The Model Y comes with high-performance tires that may need to be replaced more frequently than traditional tires, depending on driving habits and road conditions.
Brake Maintenance
EVs have regenerative braking systems that help slow the vehicle down while recharging the battery. This means that the brake pads and rotors may last longer than traditional cars. However, they still require periodic maintenance, such as replacing brake pads or brake fluid.
Other Maintenance
The Model Y has several other components that may require maintenance, such as the suspension, HVAC system, and windshield wipers. While these costs may be less frequent, they can still add up over time.
Overall, the maintenance cost of a Tesla Model Y is relatively low compared to traditional gasoline cars. However, battery replacement costs can be a significant expense, so it’s essential to monitor the battery’s health and take steps to prolong its life, such as avoiding extreme temperatures and fast charging.
Is Tesla Model Y Worth the Investment?
The Tesla Model Y is a premium electric vehicle that comes with a higher upfront cost than traditional gasoline cars. However, the lower maintenance costs, combined with the potential savings from fuel and tax incentives, can make it a worthwhile investment in the long run. Additionally, the Model Y’s impressive performance, cutting-edge technology, and eco-friendliness make it a popular choice for environmentally-conscious consumers.
The Tesla Model Y has quickly become a popular choice among EV enthusiasts due to its affordability, build quality, and performance. Positioned in the middle of Tesla’s range, the Model Y strikes a balance between practicality and luxury.
It’s no surprise that the market has warmly welcomed this mid-tier electric crossover. In 2022 alone, Tesla sold over 1.2 million Model Ys, a testament to the vehicle’s popularity and success.
What To Expect In The Future?
As EVs become more mainstream and affordable, the Tesla Model Y stands out as an excellent choice for those who want a high-quality electric vehicle without breaking the bank.
The Model Y has received numerous accolades for its exceptional safety features, advanced technology, and impressive performance. With the Model Y, Tesla has expanded its offerings to include a family-friendly SUV that retains the company’s signature style and performance.
The other popular Tesla EV, Model 3, on the other hand, has been praised for its sleek design and nimble handling.
As an electric vehicle, the Tesla Model Y comes with a high upfront cost, but it can offer savings over time due to its low maintenance needs and lower cost of charging compared to gas-powered vehicles.
The Model Y’s reliability and durability are generally comparable to or better than traditional cars. According to Kevin, the Model Y makes much more sense to buy, especially for those looking for a family car with ample storage space and advanced technology features.
But, it’s important to note that unexpected repairs on a Tesla can be costly, and the company’s stance on third-party repairs can also affect maintenance costs. Nonetheless, the Model Y is still a compelling option for those looking for an efficient, environmentally friendly, and high-tech vehicle.
Conclusion
In conclusion, the maintenance cost of owning a Tesla Model Y is relatively low compared to traditional gasoline cars, thanks to the vehicle’s simpler design and regenerative braking system. However, battery replacement costs can be a significant expense, so it’s important to monitor the battery’s health and take steps to prolong its life.
Finding the true ownership or maintenance cost of any EV is quite subjective. Especially when it comes to Tesla vehicles. Why? There is just so much going on and changing tech adds to the dynamics of EV ownership. Kevin here too is not really a Tesla fanboy but bought Model Y purely out of love for a cool car.
And that really sums up the ownership experience of the Tesla Model Y.
The Tesla Model Y is a worthwhile investment for those looking for a premium electric vehicle that offers exceptional performance, cutting-edge technology, and eco-friendliness. What are your thoughts on the performance of Model Y after becoming the most-sold car this year?
