The Tesla Model 3 Is Over $3,000 Cheaper Than a Top-Trim Honda Accord Hybrid
Let’s face it; the future is going to be overrun by hybrid and electric cars, so you might as well get on the boat soon. If you’re unsure of which type of car to pick, the Tesla Model 3 is a top choice for an EV. But if you’re not ready to go with a full-electric car, the Honda Accord Hybrid is a great pick. However, car prices are rising yearly, and the Tesla Model 3 is cheaper than the top-trim Honda Accord Hybrid.
A base Tesla Model 3 costs thousands less than a top-tier Honda Accord Hybrid
For 2023, the rear-drive Tesla Model 3 has a starting cost of $39,990 before any incentives are applied. However, a federal tax credit of $3,750 can be applied in addition to a $2,000 incentive for Colorado buyers (this incentive may vary depending on the state you reside in). With those incentives applied, the total comes out to $34,240 before any taxes or fees.
If you’re pricing a Model 3 or any other Tesla model on the company website, it’s important to be wary of the “estimated gas savings over six years” line, which deducts another $4,800. Although it may be fair for Tesla to incorporate these savings for buyers switching from gas cars, the actual savings may vary over time. It’s also not a real deduction at the time of purchase.
Regardless, the Model 3’s projected price minus the incentives is still $3,000 cheaper than the 2023 Honda Accord Hybrid Touring. The top-trim Accord Hybrid has a starting price of $37,890, and it doesn’t have the same type of performance or gas savings as the Tesla.
The pros of purchasing a Honda Accord Hybrid over a Tesla Model 3
You’re likely aware by now how great of a performer the Tesla Model 3 is. If not, know that it can reach 60 mph from a standstill in 5.8 seconds and carry a full-electric range of 272 miles. That type of mileage is great if you don’t take too many long-distance trips and can charge the car at home.
However, if you don’t have the resources to charge the car where you live, you can use the public Tesla Superchargers for quick charge times. Of course, not every driver has the time to charge an EV, so a hybrid car would be a better choice. On the other hand, the Honda Accord Hybrid doesn’t need to be charged and runs on regular 87-octane fuel.
According to the EPA, the 2023 Accord Hybrid can achieve up to 46 mpg in the city and 41 mpg on the highway. That’s good for a little over 600 miles from a single tank of gas, which is over twice the range of the Model 3.
Which sedan is the better choice?
If you have the ability to charge an EV on the go and want to potentially save money on the car and gas, the Tesla Model 3 is a good choice. However, if you would rather not deal with charging and don’t care for acceleration performance, the Honda Accord Hybrid is a better choice. After all, you may be able to recoup the difference in the initial cost over time with the fuel savings.