The Unexpectedly High Expense For One Of Tesla's Most Popular EVs

Tesla is not just the best-selling EV brand in the United States, but it's also the best-selling luxury car brand. In other words, more Americans are buying Tesla vehicles than BMW, Mercedes-Benz, Lexus, and Audi. Also, Tesla made a net income of $12.6 billion in 2022, which is a new record for the company.

The Model Y was Tesla's most popular vehicle model in 2022, according to CNBC. It's probably popular because it's a compact luxury SUV with a price range that is affordable for most Americans. At the moment, you can buy the Tesla Model Y Long Range 5-seat variant at $52,990 — this means it qualifies for the new EV tax credit. The Tesla Model Y is also cheaper to maintain than most luxury vehicles. However, as much as the Tesla Model Y is a popular model, it's more expensive to insure compared to other luxury vehicles. How much does it cost?

According to ValuePenguin, the annual insurance cost of the Tesla Model Y in the U.S. is $3,110. That makes the Tesla Model Y more expensive to insure than most EVs such as the Ford F-150 Lightning, Polestar 2, Rivian R1T, and Hyundai Ioniq. Considering that the average cost of car insurance in the U.S. is $1,780, it means the Tesla Model Y is almost twice as expensive to insure than most cars. Only the Porsche Taycan is the more expensive EV to insure than the Model Y, with an annual cost of $3,576.

However, if we compare the Model Y with other models from Tesla, it's actually the cheapest model to insure. More succinctly, the average cost to insure a Model S per year is $4,956, while the Model X adds up to $4,275 (via ValuePenguin). Even the cheapest Tesla vehicle, the Model 3, could cost you $300 more per year to insure than the Model Y.

In fact, you're more likely to spend more to insure a Tesla than any other luxury car brand in the U.S., except Maserati. This is because it could cost you an arm and a leg to repair a Tesla EV. For instance, a rear-end collision repair on a Tesla Model Y could cost between $10,000 to $20,000. Nevertheless, you could spend less to cover your Model Y if you purchase Tesla Insurance, which is cheaper than other options.

10 Reasons Why You Should Buy A Tesla

Tesla Motors, Inc. has been a trailblazer in the electric car market for years. From its humble origins building electric roadsters on modified Lotus chassis, Tesla has become a force to be reckoned with. Now a household name, Tesla makes up a significant portion of the EV market worldwide (via Forbes). Its Supercharger network spans continents and its CEO, Elon Musk, is an international celebrity.

But what is at heart here is the cars. Ignoring the hype and the tweets, cars are the reason Tesla exists, and the biggest thing to get excited about. With a range of three models and development of up to 3 more, Tesla vehicles appear to be here to say. There are plenty of Tesla detractors and there exists no shortage of comments complaining of build quality –- large panel gaps seem to be ubiquitous in bad reviews –- but there is much to love about the cars. While the price of entry is relatively high, sales have been brisk nonetheless, and, if you have the cash, here are ten reasons to buy a Tesla.

At the heart of a Tesla is the electric drivetrain. It is the reason the company exists. For years people have tried to figure out how to get rid of gasoline power and nobody did it with much success until Tesla came along. No gas means no exhaust, and that makes driving a Tesla significantly better for the environment than driving a vehicle with an internal combustion engine. A study published by Carbon Brief found this to be true "in all cases." This is particularly relevant when the Tesla is charged by power from a renewable source, such as solar or wind.

While the cost savings can get a bit wonky when configuring different cars and models and the initial ownership costs, Clean Technica found significant savings in fuel alone. In one particular scenario, 13 years of fuel usage cost about $52,000 while a Tesla driving a similar amount of miles only ran up $3000 of electricity. Not only is that significant savings in raw numbers, but forever passing gas stations is a huge bonus.

Electric drivetrains are inherently different from internal combustion in the way they produce and deliver power. There are few moving parts and the build-up of power is nearly instant. Gas and diesel engines generate torque on a curve, staring low and increasing with RPM. Electric motors create torque as quickly as electricity can energize the magnets that cause rotational power (via Car Throttle).

Tesla put a lot of research into the development of its batteries and motors in order to offer drivetrains that are durable and efficient. The added bonus is that these motors are also powerful. In its most extreme application, the Model S Plaid, torque output is more than 1,000 pound-feet while the base Model 3 produces a generous 302 pound-feet with acceleration to 60 mph in 6.1 seconds, according to Drive Canada. While its range of cars is ostensibly family haulers, Tesla builds a fast and fun option to do your family hauling.

A lot of people describe Tesla Motors, Inc. as a technology company more than an automaker, and they are not wrong. While the actual determination of this is up to some debate, Clean Technica argues the high number of features relying on software and tech devices demonstrates its focus on tech as the driving force behind Tesla. The amount of computational power in one of its vehicles is impressive. Furthermore, the tech found in its cars has been on the cutting-edge for years. Harvard Business Review argues that the innovation of the company is what drives it to success and keeps it relevant within the market.

Tesla vehicles were some of the first to use large touch screens for the bulk of the cars' functions and helped redefine how we interact with our vehicles. The Street lays out a timeline of the company, including many of its novel technologies introduced. Tesla also pioneered self-driving and introduced the idea of having a nationwide charging network. The engineering that manages the battery is also complex and highly advanced, and Tesla is among the first makers to build an electric car with a range long enough to make it viable for most people's daily use. Regardless of how many features exist or how many you might use, the innovation and novel features of every Tesla make great arguments for why you should drive one.

Tesla in many ways bucks the norm for car companies and tech firms alike. There is no other car quite like a Tesla and other manufacturers are more likely to emulate Tesla features than vice versa. Also, most people dread the car buying experience, and going to the dealership usually rates somewhere above the DMV and maybe slightly below the dentist. Tesla has tried its best to cut these seemingly useless middlemen out of the process.

Every Tesla vehicle is sold directly to the consumer. According to the manufacturer, new vehicles are either delivered to the consumer at a delivery center or directly to the home. This gives Tesla full control of the experience and eliminates the possibility of unscrupulous dealers taking advantage of its customers. However, many states have laws that protect franchise dealers, long entrenched in state politics, and prohibit sales of Tesla vehicles to residents in some states, according to Elektrek.

At the tail end of the 19th century, New York City had a fleet of electric taxis. A fascinating article by Jalopnik details that in order to keep them on the road, the Electric Vehicle Company had stations throughout the city with swappable batteries at the ready as they knew back then that the range of the car was its biggest hindrance. Tesla also knew range would be a hindrance to its cars also, and, after proving the viability of the concept with the Roadster, set out to build a network of chargers for their vehicles.

Dubbed Superchargers, Tesla's charging stations can be found coast to coast. The locations of all the chargers are mapped out in the guidance system and can be plotted into any journey such that almost any trip is possible within the country with minimal interruptions. According to Tesla, superchargers can provide about 200 miles of range in 15 minutes and top off the battery in under an hour. Free use of the charger network was a perk for buyers of new cars, but that has since been removed. That said, having a dedicated network of reliable, high-speed charging that syncs up perfectly with your car offers a compelling reason for choosing a Tesla over other EVs.

There are hundreds of reasons for choosing one car over another and it can be daunting trying to weigh all the options and make the right choice. Most people are reticent to be early adopters of new technology, even if it's from an established brand.

Tesla may be one of the youngest automakers in the country, having launched in 2003 and delivering its first vehicle in 2008, according to The Street. However, it has been building volume production all-electric vehicles probably longer than most other manufacturers. Tesla is the first company to build electric cars and a companion network of chargers and has been doing it long enough that Superchargers can be found even in small towns in the U.S. and all over the world. Going with a company with a proven track record of successfully delivering a quality product can be reassuring when choosing what car to buy, and should be a consideration for choosing the Tesla.

Gasoline and diesel-powered cars of the modern age are fantastically reliable compared to those made just a few decades before. Gone are the days when a car is used up at 100,000 miles, and that is very good for consumers. However, in order to make these things last a long time, regular maintenance is imperative. The regular maintenance doesn't just include oil changes and air filters, but can also include major services like timing belt and clutch replacement. Electric cars are different.

With a lack of most of the moving parts of an internal combustion engine, EVs lack the need for oil changes, belt replacements, filters, and most fluids. Regular maintenance intervals require little more than a visual inspection, especially since the computer monitors the battery and motors constantly and provides alerts when something needs attention. With regen braking, brake pads literally never need to be replaced, according to Jalopnik. This leaves little more to do than rotate and change the tires. The official Tesla maintenance schedule only includes a couple of regular checks and cabin filter replacement. Foregoing costly maintenance is a huge incentive for buying a Tesla.

Talking about the styling of any car is bound to dredge up some level of controversy. There is no design that will be all things to all people, so the controversy comes with the territory. That said, Tesla has a lot going for it.

While the technology and engineering are both highly progressive and forward-thinking, the styling is somewhat reserved and understated. Perhaps the most appealing aspect is the minimalist approach to interior design. You will not find any superfluous knobs, buttons, or flourishes of any kind. Everything has a function and the rest is sleek and sparse. That can be a positive attribute as busy interior design can be offputting and ugly. Hagerty argues the merits of the featureless front end of the model 3 as a possibly disappointing design feature while the rest of the lineup achieves subtle but tasteful style points. For those who appreciate vehicles with elegant but understated features, the Tesla remains a good choice.

The safety of all vehicles has increased dramatically in the last two decades. Fatal crashes of not so long ago are easily survived in a modern car. Yet some makers score better than others, and Tesla has worked toward making a safer car from the start.

In placing the battery low in the frame, EVs are inherently more stable as the center of gravity is low to the ground. The low center of gravity is particularly helpful in preventing rollovers in the SUV, the Model X. All Tesla cars have been rated 5 stars by the NHTSA, the highest rating possible, and reaffirmed its safety rating in 2017. Elektrek reported in 2018 on the Model X's remarkable ability to recover from a rollover situation in which it righted itself in every test. With the inherent stability and the complement of dozens of airbags and high-strength steel used in the construction, few cars are safer on the road than Tesla.

Nobody can accuse Tesla of being conventional. From its start as a niche automaker creating cars with unconventional drivetrains, Tesla has bucked tradition. The unconventional approach persists throughout the brand's products.

The feature that tends to stand out the most as unconventional and fun is the Model X's Falcon Doors. While they have proven to be practical and useful, offering advantages in ingress and egress, they are showy and flashy. Having a car with doors that open up like wings is s novel feature that will impress onlookers for years to come. Motor Biscuit explains how the Model X continues this trend with the feature that has the car playing a Trans-Siberian Orchestra Christmas song while flashing lights and opening and closing the front and rear doors in a flagrant display of uselessness. Furthermore, occupants can play video games, including the popular Fallout Shelter, on the main screen while parked, ostensibly during a charging session, and the screens also include a drawing tablet, perfect for taking quick notes while on the go.