Tesla Model 3 vs Tesla Model Y
Choosing between the Tesla Model 3 and the Tesla Model Y is really a question of total cost, not sticker price. Below we compare both over five years — depreciation, energy, insurance and maintenance — then let you run your own mileage.
Key assumptions for this page
Sources: Kelley Blue Book — figures are estimates last reviewed 2026; verify before purchase.
Tesla Model 3 vs Tesla Model Y: run the numbers
Cheaper to own over 5 years
Tesla Model 3
by $3,766 — Tesla Model 3: $46,598 · Tesla Model Y: $50,364
Lower 5-year total cost
🏆 Tesla Model 3
Lower energy cost
🏆 Tesla Model 3
Lower depreciation
🏆 Tesla Model 3
Lower insurance estimate
🏆 Tesla Model 3
Lower cost per mile
🏆 Tesla Model 3
Baseline 5-year cost breakdown
MSRP + EPA efficiency · USD| Cost | Tesla Model 3 | Tesla Model Y |
|---|---|---|
| Depreciation | $26,698 | $29,569 |
| Energy / fuel | $2,400 | $2,595 |
| Insurance | $13,125 | $13,650 |
| Maintenance | $4,375 | $4,550 |
| 5-year total | $46,598 | $50,364 |
| Cost per mile | $0.78 | $0.84 |
Customize your scenario
The baseline uses each car's MSRP, EPA-rated efficiency and segment-typical depreciation. Change the assumptions below to match how you actually drive — your result may differ from the baseline.
5-year cost by annual mileage
| Miles / year | Tesla Model 3 | Tesla Model Y | Cheaper |
|---|---|---|---|
| 8,000 mi | $45,798 | $49,499 | Model 3 |
| 12,000 mi· now | $46,598 | $50,364 | Model 3 |
| 15,000 mi | $47,198 | $51,012 | Model 3 |
| 20,000 mi | $48,198 | $52,093 | Model 3 |
| 30,000 mi | $50,198 | $54,255 | Model 3 |
Estimates only, not quotes. Depreciation, insurance and maintenance use segment-typical assumptions; insurance is modeled from each model's risk factor against a national average, not a quote. Verify with dealers and insurers before deciding.
Good to know
Specific, useful answers for this page.
Is the Tesla Model 3 or the Tesla Model Y cheaper to own?＋
Over five years, total ownership cost comes down to depreciation, energy, insurance and maintenance. The breakdown above totals both side by side so you can see the real gap, not just the sticker difference.
What's the biggest cost difference between them?＋
Usually depreciation and insurance dominate. The Model 3 depreciates faster, while insurance tracks each car's risk factor (Model 3: 1.25×, Model Y: 1.30×).
Does the price gap between the Model 3 and Model Y matter long term?＋
The Model Y costs about $6k more upfront, and since depreciation is a percentage of price, the costlier car usually loses more dollars too. With similar drivetrains, fuel and maintenance land close, leaving depreciation and insurance as the deciders.