Tesla Model 3 Performance owner reveals honest amount he spends on charging every month compared to his monthly income

This Tesla Model 3 Performance owner has broken down the monthly costs that go into running his EV.

We all know that owning a car isn’t just about walking into a dealership, paying, and never spending another cent.

But while EVs are supposed to be cheaper to own, is a Tesla still out of budget for most?

Well, thanks to this cost breakdown, you might finally have an answer.

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How much does it cost to charge a Tesla?

It’s well-known that owning an EV makes for significant savings on gas/petrol, with charging costing less than fuel.

But how much do you really save when you have a top-of-the-range Tesla Model 3 Performance?

Well, popular YouTuber Jeremiah Jones has revealed the honest truth.

For charging at home, Jones says that his costs come in at six cents per kWh.

Across the last month, he drove 1,364 miles, and this boiled down to just $27.60 worth of electricity.

Compared to the average national gas-per-mile price of 17 cents, it would have cost $231.88 in fuel.

The true savings come when you can charge at home, as the out-and-about Superchargers are coming in nearly five times as expensive.

But, of course, that’s not the only cost.

Tesla Model 3 Performance monthly spend

Starting off, he revealed that the 2023 Tesla Model 3 Performance was bought brand new, costing $40,000.

The model came without the additional Full Self-Driving module that would have added another 20 percent to the price tag.

At a 5.94 percent interest rate for 72 months, Jones pays $632 for the finance package for his Tesla.

Then, there is insurance and tax.

Jones fortunately lives in a state with Tesla tax, which comes to $1,200 every six months – and easy math deducts that to $200 per month.

Tax and registration is a flat $620, broken down as around $50 a month.

Already the fees are stacking up.

All in all, Jones’ basic monthly spend comes to $965, although this is increased to $1,075 as he has opted into Tesla subscriptions like Premium Connectivity and Full Self-Driving.

There are some silver linings though, maintenance is low with the motor, in comparison to oil changes and filter replacements in a combustion engine

The YouTuber revealed that the car is affordable for him, sharing his YouTube earnings which average out at around $7,300 a month, but admits that not everyone has the luxury of such a high earning threshold.

Other reports and self-studies have found similar results, especially with the charging at much higher mileage rates.