True Cost of Tesla Ownership: Monthly Expenses and Essential Accessories

True Cost of Tesla Ownership: Monthly Expenses and Essential Accessories

Hey everyone, DennisCW here! If you're a fan of my YouTube channel, you know I love diving deep into all things Tesla. In one of my recent videos, I reacted to a fellow Tesla owner's breakdown of the real monthly costs of owning a Model 3 (purchased back in October 2023). Now that we're in July 2024, it's a great time to share these insights and add my own thoughts. Some of these numbers might surprise you – they certainly caught my attention! Plus, I'll wrap up with my top accessory recommendations to enhance your Tesla experience. Let's break it down.

The Monthly Expenses: What It Really Costs to Own a Tesla

Owning a Tesla isn't just about the upfront price; it's the ongoing costs that add up (or in this case, don't add up as much as you'd think). This owner shared his real-world figures, and I'll chime in with comparisons and tips based on my experiences in California.

1. Insurance: $145 per Month

The biggest bill? Insurance. At $145 a month for full coverage on an electric vehicle, that's a steal! I agree – it's fantastic. Here in California, insurance is pricier; we average around $200 per vehicle. If you're shopping around, consider Tesla Insurance for low rates, or if available in your state, Costco Insurance (sadly, it's not in California anymore). Pro tip: Shop smart to minimize this cost – it can make a huge difference.

2. Electricity: $86–$100 Extra per Month

Next up is the electric bill, which fluctuated between $86 and $100 extra monthly for this owner. This is largely due to a 50-mile round-trip commute and heavy Ubering/DoorDashing (he's working 60+ hours a week). Once he cuts back on ridesharing, he expects this to drop.

To put it in perspective, if you own a home, your baseline electricity bill might already be $100–$200 a month. Charging at home with a proper setup and time-of-use rates can keep costs low. Do the math on your miles – for high-mileage drivers like this guy, it's still way cheaper than gas. If you're using your Tesla for side hustles, factor in those extra miles!

3. Full Self-Driving (FSD): $100 per Month

Ah, the optional but oh-so-tempting Full Self-Driving subscription at $100 a month. This includes features like Autopark and Navigate on Autopilot. Our owner uses it daily and swears he gets his money's worth – especially when integrating it with Uber navigation.

Here's the fun part: He's essentially turning his Tesla into a semi-robo-taxi for his ridesharing gigs. FSD handles most of the driving (80–90%), while he monitors. Of course, you can't zone out or sleep – safety first! But it's a clever way to relax a bit on the job. Bonus: If you're using it for business like Uber, you might write off the cost on taxes. Pretty innovative combo, right?

4. Premium Connectivity: ~$8 per Month

The smallest bill is Premium Connectivity, which lets you stream Netflix, browse the web, and more while parked (like at a charger). He paid upfront for the year, bringing it down from $10/month to about $8/month. This is standard for Model 3, Y, S, and X – $10 monthly or $100 yearly. If you love in-car entertainment, it's worth it; otherwise, skip it.

In total, these costs add up to around $339–$353 per month (insurance + max electricity + FSD + connectivity). That's impressively low compared to traditional cars, especially with no gas, oil changes, or major maintenance. If you're eyeing a Tesla, this gives you a realistic picture – congrats if you've already got one, or if you're about to pull the trigger!

Must-Have Tesla Accessories: My Top Recommendations

Now, onto the exciting stuff: accessories! There's a ton out there, but I'll bucket them into my top three categories: phone mounts, all-weather floor mats, and center consoles. These aren't just nice-to-haves; they elevate your daily drive. I've got links and discount codes in my video descriptions and on our Best Deals spreadsheet (page 2) – using them supports the channel, so thank you!

1. All-Weather Floor Mats (My #1 Pick)

Protect your interior from dirt, spills, and wear – essential for any car, but especially a Tesla. I categorize options as good, better, and best:

• Good: Affordable ones from Amazon.
• Better: High-quality sets from Lake Tasmanian.
• Best: My all-time favorite, 3W Liners. We use them in our Model X and Model 3 Performance. They're premium material at a competitive price – use my promo code in the description for a deal!

2. Center Console Organizers

Tesla doesn't include one stock, so this is a must. Check out the one from Jowua – we have it in all our Teslas. It keeps everything tidy and accessible.

3. Phone Mounts

For safe, hands-free navigation and calls. Pair it with a reliable mount to keep your eyes on the road.

These accessories are game-changers for comfort and convenience. Head to the links below my videos to grab them.

Final Thoughts

Tesla ownership is more affordable than many think, especially when you factor in savings on fuel and maintenance. This breakdown shows real numbers from a high-mileage user, and combining FSD with Uber is a smart hustle. What are your monthly costs like? Drop a comment below – I'd love to hear! If you're new to Tesla, check out my channel for more tips, reviews, and deals. Thanks for reading, and drive safe!

Disclosure: Affiliate links may be used, and using them helps support the channel at no extra cost to you.