Tesla was once known as the best of the best. However, the Tesla Model X may no longer rule the roost in the EV space. A new luxury EV is on stage now called the Cadillac Lyriq, and it’s already proving to be a highly sought-after entry in the segment. Before deciding on a luxury EV, take a closer look at what the 2023 Cadillac Lyriq brings.

Here, we’ll offer a comparison between the Model X and the Lyriq on affordability and warranty.

1. The Cadillac Lyriq is far more affordable than the Tesla Model X

Comparing the price points of the Tesla Model X with the 2023 Cadillac Lyriq immediately offers a distinction. Based on pricing outlined by Consumer Reports and Edmunds, the 2023 Cadillac Lyriq will cost between $61,795 and $63,795.

A 2022 Tesla Model X, according to Edmunds, will set you back $104,990 to $114,990 and upwards of $138,000. It’s not often you’ll find a Cadillac as the most cost-effective choice between models. However, in this luxury EV space, it will save you thousands to choose the Cadillac Lyriq over the Tesla Model X.

2. There are available credits for home charger installation

If you need another good reason to buy the 2023 Cadillac Lyriq over the Tesla Model X, check out the available credits for home charging installation and setup. According to Autoblog, using your Level 2 home charger, you can expect to recoup 52 miles of range.

Every 2023 model Cadillac Lyric will come with the option to purchase EV charging credits. Lyriq buyers can either go with two years’ worth of unlimited charging credits for use at EVgo charging stations, or they can take advantage of the home install credit, worth up to $1,500, to put toward the setup of the Level 2, 240-volt outlet at home. And Cadillac partners with Omerit, a nationwide network of “Electric Vehicle Supply Equipment Installers and Contractors.”

3. Do Cadillac and Tesla have good warranties?

Warranties are a vital part of the car buying process. No one wants to buy a car, something break, and then not be able to do anything about it. Some repairs can be costly and the difference between having a car and not.

Tesla lists a 4-year or 50,000-mile basic warranty and an 8-year or 150,000-mile battery and drive unit warranty. The Tesla Parts, Body & Paint Repair Limited Warranty extends for 12 months or 12,500 miles; it includes particular categories like sheet metal (Limited lifetime).

Likewise, the 2023 Cadillac Lyriq offers multiple warranties for various parts of the car. The manufacturer offers the same 4-year or 50,000-mile basic warranty and a 6-year or 70,000-mile drivetrain warranty, a 4-year 50,000-mile rust warranty, and 6-year or 70,000-mile roadside assistance.

So, as you weigh your options and conduct your own comparisons, these are two key reasons to buy the 2023 Cadillac Lyriq over the Tesla Model X. You’ll save more money on the purchase plus even more with the charging station credit. However, Tesla offers a longer drivetrain warranty.

Editor’s Note: Additional warranty information was included for the Tesla Model X.