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The Tesla Model 3 is the most affordable means to hop into one of the automaker’s highly sought-after electric vehicle (EV) offerings. However, it’s no secret that the baby Tesla isn’t anywhere near Nissan LEAF starting points. So, how much will a Tesla Model 3, Long Range trim, or Performance trim cost a potential owner in 2023? Moreover, is the diminutive EV worth it?

A blue 2023 Tesla Model 3 Long Range cruises down a wet road.
Tesla Model 3 | Tesla

How much is a Tesla Model 3 in 2023?

The Tesla Model 3 starts at about $40,240 for the entry-level Rear-Wheel Drive trim. However, the automaker is quick to remind drivers that the EVs qualify for up to $7,500 with a federal tax credit. 

Model 3 Rear-Wheel Drive$40,240272-mile range
Model 3 Long Range$47,240333-mile range
Model 3 Performance$53,240315-mile range
Figures courtesy of Tesla

Of course, no new vehicle is complete without options and upgrades, and the Model 3 has many. Even at the entry-level Model 3 Rear-Wheel Drive trim, fans can opt for $2,000 premium paint options like Red Multi-Coat. Moreover, choosing the flashier 19” wheels might add some panache, but it could drop fuel economy by around 2 to 5%. However, the priciest upgrade is the optional Full Self-Driving Capability (FSD), a feature that adds $15,000 to how much a Model 3 will demand in 2023.  

Is the Tesla Model 3 changing in 2023?

The 2023 Tesla Model 3 doesn’t get any significant styling or engineering upgrades for the latest model year. Instead, the automaker will make over-the-air software updates to its vehicles as they develop. 

A 2023 Tesla Model 3 interior shows how much the automaker leans on simplicity.
A Tesla interior | Tesla

However, the Long Range trim wasn’t available on the EV maker’s online configurator at the beginning of the year. Instead, potential owners had to wait for the longest-legged of the baby Tesla’s offerings.  

Do Tesla Model 3s hold their value?

The Tesla Model 3 has a recent reputation for commendable value retention. For instance, reported that the Model 3 is one of the used cars with the best resale value figures of all popular models. 

Specifically, the Model 3 enjoyed a 12% increase in resale value from the 2018 to 2021 model years. Despite how much a new or used Model 3 has the potential to demand, it remains the most affordable option in the automaker’s offerings.

Is a Tesla Model 3 worth it?

Despite appearing long in the tooth, the Tesla Model 3 remains one of the most versatile EVs on the market. With the base model covering more distance on a single charge than the Nissan LEAF, now-discontinued Chevrolet Bolt EV, and Hyundai Kona Electric, the Model 3 is a day trip-worthy machine. 

However, Car and Driver asserts that after nearly seven model years, the Model 3 still suffers from fit and finish issues. Moreover, the automaker is likely to update the model soon. Be that as it may, the Model 3 is the most affordable option for new drivers to join the electric marque’s fanatic following. Furthermore, the Performance trim is one of the cheapest cars speed fans can buy that will hit 60 mph in just above 3.0 seconds. 

What do you think of the Model 3? Share your thoughts in the comments below!


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