Total 5-Year Cost Comparison: Tesla Model 3 vs. Toyota Camry
Choosing between an electric vehicle (EV) like the Tesla Model 3 and a reliable gas-powered sedan like the Toyota Camry? While the upfront price differs, the real savings (or costs) reveal themselves over time. This 5-year total cost of ownership (TCO) breakdown compares fuel, maintenance, insurance, depreciation, and more to help you decide which car is truly cheaper in the long run.
1. Upfront Purchase Price (2025 Models)
|
Vehicle |
Starting Price (New) |
Federal/State Incentives |
Effective Price |
|---|---|---|---|
|
Tesla Model 3 RWD |
$40,000 |
-$7,500 (U.S. tax credit) |
$32,500 |
|
Toyota Camry LE (Gas) |
$28,000 |
None |
$28,000 |
✔ Camry wins on sticker price, but incentives can make the Model 3 competitive.
2. Fuel & Charging Costs (5 Years, 15,000 Miles/Year)
|
Expense |
Tesla Model 3 |
Toyota Camry |
|---|---|---|
|
Energy Efficiency |
4 mi/kWh |
32 mpg |
|
Fuel/Electricity Cost |
$0.12/kWh (home) |
$3.50/gallon (avg) |
|
Annual Cost |
$540 |
$1,640 |
|
5-Year Cost |
$2,700 |
$8,200 |
✔ Tesla saves ~$5,500 in fuel over 5 years.
3. Maintenance & Repairs (5 Years)
EVs have fewer moving parts, leading to much lower maintenance costs:
|
Service |
Tesla Model 3 |
Toyota Camry |
|---|---|---|
|
Oil Changes |
$0 |
$600 (10 changes) |
|
Brake Pads |
$100 (rarely needed) |
$400 |
|
Engine/Transmission |
$0 |
$500 (potential repairs) |
|
Tire Rotations |
$200 |
$200 |
|
5-Year Total |
$300 |
$1,700+ |
✔ Tesla saves ~$1,400+ in maintenance.
4. Insurance Costs (5 Years)
|
Vehicle |
Annual Premium |
5-Year Cost |
|---|---|---|
|
Tesla Model 3 |
$1,800 |
$9,000 |
|
Toyota Camry |
$1,200 |
$6,000 |
❌ Tesla costs ~$3,000 more to insure (due to higher repair costs).
5. Depreciation (Resale Value After 5 Years)
|
Vehicle |
Initial Price |
5-Year Resale Value |
Total Loss |
|---|---|---|---|
|
Tesla Model 3 |
$32,500 |
~$18,000 |
$14,500 |
|
Toyota Camry |
$28,000 |
~$16,000 |
$12,000 |
❌ Tesla depreciates ~$2,500 more (but EV resale values are improving).
6. Additional Costs
- Tesla Model 3:
- Home charger installation: $500–$1,500 (if needed)
- Supercharging (road trips): ~$500 over 5 years
- Toyota Camry:
- Emissions tests: $100–$200 (varies by state)
- Spark plugs/belts: $300–$500
Total 5-Year Cost Comparison
|
Category |
Tesla Model 3 |
Toyota Camry |
|---|---|---|
|
Purchase Price |
$32,500 |
$28,000 |
|
Fuel/Energy |
$2,700 |
$8,200 |
|
Maintenance |
$300 |
$1,700 |
|
Insurance |
$9,000 |
$6,000 |
|
Depreciation |
$14,500 |
$12,000 |
|
Total 5-Year Cost |
$59,000 |
$55,900 |
Final Verdict:
- Tesla Model 3 costs ~$3,100 more over 5 years—but the gap is shrinking with fuel savings.
- If electricity is cheap or gas prices rise, Tesla could become cheaper.
- Camry wins for budget buyers, but Tesla offers long-term tech & environmental benefits.
Which Would You Choose?
✅ Tesla Model 3 – Lower fuel/maintenance, high-tech, eco-friendly.
✅ Toyota Camry – Cheaper upfront, proven reliability, wider refueling access.
Last Updated on May 9, 2025 by tayniu
