Man shares his honest monthly costs of driving a Tesla to help others understand if they can afford it
Published on Feb 01, 2026 at 5:19 PM (UTC+4)
by Ben Thompson
Last updated on Jan 30, 2026 at 5:42 PM (UTC+4)
Edited by
Mason Jones
This man has shared his monthly costs of driving a Tesla, hoping it’ll help others understand if they can afford one.
YouTuber Chris Hannibal left no stone unturned in his analysis.
He considered everything from insurance to charging costs, and even all the hidden fees.
So, when all is said and done, has Tesla proven to be too expensive for Hannibal? Or does he think his followers should take the plunge and switch over to EVs?
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The costs of owning a Tesla – what do you need to know?
Hannibal owned a 2024 Tesla Model 3 Performance, which he’d bought on a monthly finance deal.
That meant he was paying $1,071 (£776) a month, without having paid a deposit.
He’d made this decision with an APR (Annual Percentage Rate) of zero percent, meaning the interest on the payment was nil.
This had been done waiting for it to drop down from 9 percent.
He advised others to be patient with newer models, like the Model Y Juniper, and to wait for the APR to drop before making any decisions like this.
Other costs included the Tesla Premium Connectivity, which was $13 (£10) a month.
When it came to maintenance, Hannibal had been remarkably lucky in that he hadn’t spent a penny on servicing.
And that’s after 18 months with 23,000 miles driven.
Even the tires have held up well.
But what about the electricity? How much had charging eaten into his bank balance?
On average, he’d been spending around $58 (£42) a month, charging almost entirely at home with a 7.4kW charger.
Over the span of 18 months, he’d spent around $994 (£720).
And what of the insurance?
That was around $800 (£580) a year.
On this factor, he urged his viewers to ‘shop around’ for the best insurance deals.
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How much did this car cost ultimately?
At around $1,209 (£876) a month, it certainly looks like a pricey investment.
But with maintenance so low and fuel costs practically negligible, Hannibal still felt like he’d made a good financial decision.
He also compared it to his previous BMW diesel, which had set him back a whole lot more.
For him, this was a financial decision that made sense, and was money well spent.
This decision will ultimately land with the person buying the car.
This isn’t the first time we’ve seen someone break down the costs of their Tesla.
Whether it’s a Model 3 after a year of ownership or it’s comparing ownership costs to a Toyota car, there’s a lot of information out there.
Empower yourself with the knowledge before you make the decision for yourself.
To see Chris Hannibal’s breakdown figures for yourself, visit his YouTube channel.
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Following stints at LadBible, The Sun, The New York Post, and the Daily Mail, Ben joined the team full-time in February 2025. In his role as Senior Content Writer, his sparkling copy, the ability to sniff out a good story at 100 paces, and a GSOH quickly led to him becoming an integral and invaluable member of the writing staff.
