This Is The Cheapest Luxury SUV To Own

When it comes to luxury SUVs, the Tesla Model Y stands out as the most affordable option over a 5-year ownership period. According to calculations by Tesla that factor in depreciation, taxes, fees, incentives, financing, maintenance, repairs, insurance and fuel (gasoline or electricity) costs, the total cost to own a Tesla Model Y for 60,000 miles over 5 years comes out to $25,920. 

That’s over $36,000 less than a comparable BMW X3, which rings in at a steep $62,280 over the same period. Remarkably, it even edges out non-luxury models like the Toyota RAV4, which exceeds the Model Y’s costs by about $8,000 over 5 years.

Even when you back out Tesla’s claimed $7,500 tax credit, the Model Y still clocks in at just $33,420 in total ownership costs.

Tesla’s strong value proposition is enabled by recent substantial price cuts enacted by the brand. This move down market raises questions around how to classify Tesla – is it still a luxury automaker, or are its vehicles now priced more inline with affordable, mass-market brands? Perhaps it’s shaping up to be both, fulfilling CEO Elon Musk’s vision of making electric cars accessible to mainstream buyers while still retaining a tech-centric, aspirational aura.

In any case, for those shopping luxury SUVs strictly on a budget, the Tesla Model Y represents a new bargain option with a total cost of ownership that challenges even non-premium models. It’s a disruptive shift that makes electrified transportation more financially viable than ever.

More Articles for You

New Kia EV5 Debuts In Singapore As First Model To Be Assembled There

Kia’s electric EV5 has finally been introduced into Singapore after making its debut at the local motor show earlier this …

New Morgan Supersport Blends Retro With 21st Century Tech

At Morgan, change happens gradually. Over the 116-year history of the British company, the cars’ appearance and feel have remained …

Toyota Planning Big EV Push With 7 Models For North America

There’s some big news from Toyota. According to Bloomberg, Japan’s No 1 carmaker plans to launch seven new all-electric cars …

Callum Designs Reveals Sensational Jaguar E-Type Restomod

Boasting an enviable portfolio that includes the Aston Martin DB7, Jaguar XK, and F-Type, former Jaguar design director and current …

Phantom Goldfinger Debuts At Villa d’Este Event To Celebrate Centenary

A double homage has just been paid to one of the world’s most spectacular cars at arguably the world’s premier …

Geely’s Radar King Kong PHEV Packs A Massive 914 Nm Of Torque

The handle may sound a bit over the top, but Geely really did just name its latest plug-in hybrid SUV …