With recent price cuts, the Tesla Model Y is more appealing than ever for first-time EV buyers. The Model Y is Tesla’s crossover SUV based on the Model 3, Tesla’s most affordable model. The Model Y takes the economical price of the Model 3 and adds a little more size to make it easier to live with for modern families.

With recent federal tax incentives and price cuts from Tesla itself, the Model Y is now, at least on paper, more affordable than ever before. But is the Tesla Model Y all that affordable? With some language that can be tough to follow, here is everything you need to know about the Tesla Model Y and how much you can expect to pay for a base model.

Tesla Model Y: price, specs, and features

The Tesla Model Y is Tesla’s mainline crossover SUV model, seated in between the Model 3 sedan and the Model X SUV. The Tesla Model Y was released under turbulent circumstances, with the Model Y being delivered to its first customers on March 13, 2020, right at the start of the COVID-19 pandemic. However, the Model Y has weathered the storm and it is now one of the best-selling cars of the first quarter of 2023.

The Model Y currently starts at $32,240 after potential savings, according to Tesla. You get a range of 279 miles and a standard five-passenger interior for this price. While many other vehicles have a whole list of features to break down, Tesla’s vehicles are a little different. The Model Y base version has all of the tech features found on the entire Tesla lineup, save for complex systems like full self-driving mode and enhanced autopilot.

How much can you actaully expect to spend on a new Tesla Model Y?

Before you rush out and order your Model Y, be careful, Tesla’s extremely low “potential savings” price of $32,240 MSRP is only half of the story. The true MSRP of the Model Y is $47,740. Tesla’s “potential savings” price is incredibly generous, assuming that consumers are figuring $6,000 in fuel savings into their budget. The Model Y is eligible for a $7,500 tax credit and a possible $2,000 in savings for California buyers.

The Model Y’s accessories are also costly. For premium multi-coat red paint, you can expect to pay an extra $2,000. For 20-inch induction wheels, add another $2,000. Enhanced Autopilot will cost you an extra $6,000. For full self-driving capability, you can expect to pay another $15,000 on top of your base price.

The Model Y does not even come with home charging equipment either, which will run you an additional $475 for a wall connector and an extra $230 for a mobile connector.

What does all this mean for a potential owner?

Despite its unconventional pricing, the Telsa Model Y is the best-selling EV in the world for a reason. It offers a great EV experience for every driver on the market, at an extremely reasonable price, depending on what you need.

Because of how expensive the Model Y can get when options are added on, it is important to order your Model Y with your budget in mind. For tax incentives, you should make sure of your quality before you place your order, and with any vehicle purchase, it is important to check out other vehicles from other brands on the market today.

You just may find that you can afford a much better EV than the Model Y once you add on all of your must-have features. Either way, the Model Y is an excellent EV, as long as you aren’t married to any of its expensive optional features.