The Tesla Model 3 remains one of the most consistently cost-efficient electric vehicles when considering EV ownership costs and Tesla insurance rates.
In 2018, a North Carolina-based driver purchased a mid-range Model 3 and began tracking all associated expenses.
With factory upgrades, tax incentives, and over six years of driving, his data provides a rare full-picture cost breakdown.
Here is how the figures compare across charging, insurance, maintenance, and depreciation.
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Tesla Model 3 purchase, charging, and insurance figures
Evan, the owner behind the YouTube channel ‘EMtesla1’, placed his order for the Tesla Model 3 in December 2018.
He selected silver metallic paint, a white interior package, and 19-inch Sport Wheels, which raised the base price to $49,000.
With $1,200 in delivery and documentation fees and $1,788 in registration and tax costs, the final amount came to $51,988.
A federal tax credit of $3,750 reduced his net cost to $48,238.
He made the purchase just before the incentive was cut in half, ensuring the full benefit.
Evan reports spending about $473 per year on charging, based on the national average mileage.
Most charging is done at home using a standard 120V outlet, while occasional Supercharger use over multiple road trips added up to only $17.90.
Tesla insurance added just $67 to Evan’s previous six-month premium.
His 2009 Audi A4 cost $325 for full coverage, while GEICO quoted $392 for the Model 3 with matching terms.
He reviewed multiple providers and found a competitive rate without relying on Tesla’s in-house offering, which remains limited to select states.
EV ownership costs, maintenance, and long-term value
Over six years of use, maintenance has remained limited.
Evan replaced windshield washer fluid and performed his own tire rotations.
He noted that Tesla’s mobile service team or service centers often offer tire rotations at no cost.
The original tires still have usable tread, but he estimates replacement within the next year.
A new set of performance tires is expected to cost between $800 and $1,200.
Compared with his previous gas vehicle, ongoing EV ownership costs have been noticeably lower.
He avoided expenses like oil changes, spark plugs, and timing belt service, all of which were routine with the Audi A4.
Evan chose not to install a Tesla Wall Connector at home, relying instead on a standard outlet due to his low daily mileage.
Installation of a high-powered wall unit can cost between $100 and $2,000, depending on electrical setup and distance to the breaker panel.
Depreciation for the Tesla Model 3 has also remained moderate.
Kelley Blue Book estimates its private sale value at $41,617.
That places total depreciation at around $10,000 over six years, which aligns with typical rates for new vehicles.
Evan believes the over-the-air updates have helped retain long-term value, especially since his 2018 model continues to receive the same software as newer versions.
Evan financed part of the purchase with a low-interest loan.
Monthly payments came to just under $1,000, with a total repayment figure of $47,900 after interest.
Loan terms vary depending on credit score, down payment, and contract length.
For buyers assessing real EV ownership costs, the Tesla Model 3 remains a strong case study.
Charging remains affordable, Tesla insurance is manageable with comparison shopping, and maintenance needs have been minimal.
Evan’s experience offers a clear and practical reference for long-term cost expectations.
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