How Much Does the New Tesla Model Y Really Cost? It’s a Lot Higher Than the Sticker Price

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  • Tesla unveiled the Model Y on March 14.
  • The newest Tesla smart car costs $42,700 at the lowest, according to the company’s website.
  • However, depending on which options you select, that price can jump to more than $60,000.

Elon Musk unveiled the Tesla Model Y on March 14 at Tesla’s design studio in Hawthorne, California. Musk described it as “a crossover sport utility vehicle based on the Model 3 sedan,” the Los Angeles Times reported.

The Tesla Model Y is not expected to be available until 2020. But given the cost of a Tesla vehicle, you’d better start saving now. Right now, Tesla lists the Model Y between $42,700 to $55,700 on the company’s website. A more affordable version priced at $39,000 is set to be available for delivery in 2021.

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How Does the Tesla Model Y Compare to Other Cars?

The average price of a new car stands around $36,000 as of February 2019, according to Kelley Blue Book. This means you’ll have to wait for the $39,000 model if you want a vehicle that at least pretends to be affordable. However, even the Model Y is cheaper than some of the other extant Tesla vehicles. The Model S, for example, costs over $67,000 for the standard-range version.

Now, no one’s trying to downplay the ridiculous price of a Tesla, but more lavish cars exist. For example, the Lamborghini Veneno sold for $3.9 million, according to Kelley Blue Book. At that price, you could buy more than 90 Tesla Model Ys at the $42,700 price.

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Are Tesla’s Prices Accurate?

Well, that depends on how many options you select, according to Motor1.com, a vehicle consumer website.

Motor1 editor Jeff Perez urged readers not to be fooled by the Tesla Model S’ purchase price. “Not accounting for Tesla’s estimated ‘gasoline savings’ over six years at 10,000 miles per year ($5,500), $3,750 worth of incentives, and including the mandatory $1,200 destination fee, the Model S actually starts at $80,200. And that’s before options,” he wrote earlier in March 2019.

As far as the Model Y goes, differences in options, from the color of the vehicle to autopilot installation, can add up to more than $10,000. Maximizing options on the $42,700 long-range version of the car will bring the total up to $63,000. Furthermore, just ordering a Model Y will cost you $2,500.

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