Tesla Model 3 running costs
|Insurance group||Warranty||Service interval||2019/20 company-car tax cost (20%/40%)|
|TBC||4 years / 50,000 miles||Variable||£1,357/£2,714|
The Tesla Model 3 isn’t a cheap car, but given the performance and the rock-bottom fuel and tax costs, it’s a compelling financial prospect nonetheless.
After all, while the Model 3 doesn’t have any direct rivals currently, something like a BMW 330d or an Audi S5 (both of which are close to the cheaper Model 3 Standard Range Plus on performance, executive swagger and price) will cost a similar amount on finance, but won’t deliver Congestion Charge exemption in London, zero road tax, and well under half the fuel costs of a diesel car. The Tesla will also be usefully cheaper than any comparable for Benefit-in-Kind company-car tax.
Tesla Model 3 insurance group
Insurance groups are yet to be confirmed for the Model 3, but expect them to be high, with the Performance version undoubtedly destined for the highest group - as you’d expect for a car that’s faster than a BMW M3.
Tesla offers a standard four-year, 50,000 mile warranty, which is a bit low on the mileage side but does exceed the three year warranties offered by rivals from Audi, BMW, Mercedes and Jaguar.
The batteries get an eight-year, 100,000 mile warranty and will also be refurbished or replaced by Tesla if they fall below 70% of their as-new performance within that time. That’s unlikely to happen though, given Tesla’s excellent reputation for battery longevity.
Tesla doesn’t state specific servicing intervals - the car will inform you if it needs attention. However, Tesla recommends checking the cabin air filter and brake fluid every couple of years.
Thanks to its zero tailpipe emissions, there’s no road tax to pay on the Model 3. However, because it costs more than £40,000 (before the Government’s PiCG incentive), it is subject to the ‘premium tax’ of £320 per year, for years two to six of your ownership of the car.