Buying a Tesla: Everything You Need to Know About Owning the Elon Musk Supercar

With more and more focus being put into hybrid and fully electric vehicles, there is every chance that before long, most cars on the roads will be powered by electric engines rather than the combustion engines we have been familiar with for so long. UK government policy states that by 2035 all new cars and vans must be zero-emission vehicles.

The first name you are likely to think of when you think of electric vehicles is Tesla. As much as Elon Musk cuts a controversial figure, the impression he has made on the electric car industry is huge. Reports issued in the summer of 2023 showed that Tesla was the most valuable brand within the global automotive sector. Toyota ranked second and was so far behind Tesla that you could have doubled the value of the Japanese car brand and still not reached that of Tesla!

So, in our opinion, the marketing, the brand strategy, the vehicle quality, and the reputation of Tesla mean it is likely to be the electric car of choice for you when you decide to cross over from combustion engines. With that in mind, we have covered everything you need to know about buying a Tesla and how to keep it running once you purchase it.

Should I buy a Tesla?

If you are weighing up the options of a new car purchase, you should look at the government schemes for hitting zero emissions. You could buy a brand-new petrol-powered vehicle today and perhaps another in five years, but depreciation should be factored in the closer we get to 2030 and 2035.

2030 is when the government set a plan for 80% of new vehicles to be emission-free. You could, of course, buy a used car on finance to tide you over before a brand-new electric vehicle becomes the only option available to you. This could be an expenditure you don’t need when you could invest in a new electric car on finance now that is future-proofed.

Aside from the obvious environmental benefits of opting for an all-electric Tesla, you stand to benefit financially too. Any emissions charges such as ULEZ will not apply when you own a Tesla, saving you considerable sums over the long term. Furthermore, factor in the running costs, estimated to be around half those of a combustion engine vehicle, and a Tesla begins to sound very favourable. You’ll also find that maintenance costs are significantly less than if you were driving a combustion engine vehicle. Tesla claims that there are only 20 moving parts within the drivetrain, compare this to the 200 you find on other car types, and you’ll soon see that with less to fix, there is less to spend!

The Tesla cars are also seen as excellent vehicles to drive by many. More or less silent as it moves, you won’t be facing neighbour complaints about loud engines. Ample torque, rapid acceleration, and just one single gear make the drive simple too.

With high safety ratings across the board, the Tesla range gives you added confidence whilst driving your vehicle and the tech used to make the vehicle what it is is just fantastic. Add in the stylish interior free from varied buttons, switches, and knobs and you have a car that is showcasing the future today.

How much does a Tesla cost?

A Tesla can be seen as expensive, but it seems that the Tesla team have tried to cover variable price points for all types of owners. The cheapest, the Model 3, typically sells as a brand-new model for just over £40,000. Some variations of this edition reach closer to £60,000.

For just a touch more, you can upgrade to the Model Y where the rear-wheel-drive option will set you back £45,000 for the standard edition, whilst pricier trims of this model tip the scale at just under £60,000.

Should a premium Tesla be more to your liking, The Model S and Model X provide you with what you are looking for but at a significant jump. The entry-level Model S for example, is currently retailing at a little over £80,000, whilst its more expensive versions start to touch the £90,000-£100,000 mark.

Used models are of course, significantly cheaper and you could pick a premium model, like the S for less than the cost of a brand-new Model 3. These older editions that you will find on the used market tend to be those with the smaller battery, and when compared to the more recent models to come off the Tesla production line, are lacking a little in performance. That being said, they are still more than a match for many other manufacturers’ attempts at electric vehicles.

How many Tesla models are there?

Tesla currently has five models of vehicle, of which four are available in the UK. With plans to introduce others, including a futuristic-looking Cybertruck and a sporty Roadster, Elon Musk and his innovative team are continually looking to push boundaries and develop vehicles even further.

The models of Tesla you could purchase as a new or used car in the UK are the:

Tesla Model 3

Tesla Model S

Tesla Model X

Tesla Model Y

Tesla Model 3

The Tesla Model 3 is the most common model seen on the roads of the UK and, being the most affordable option, it is to be expected. With seating for five, and storage in both the boot and under the bonnet, it provides a great option for getting around town.

Three types are available; Standard Range, Long Range, and Performance. A single charge gives a generous 305-385 miles (WLTP) depending on the edition purchased, and when you opt for the Long-Range variant, you’ll benefit from All Wheel Drive as well. Top speeds range from 145 mph-163 mph, and you can see a 0-60mph of 3.1 secs on some editions. Additional features are included on the more premium trims, including performance breaks, full self-driving capability and more.

Expect to pay from £42,000 up to £65,000 for a brand-new Model 3.

Tesla Model S

The Tesla Model S is one of the flagship models of the Tesla collection. For many, this is the Tesla that put Tesla on the map and showed the rest of the automotive industry that it was a serious player in car manufacturing. Again, just like the Model 3, it seats 5, and the space for all is plentiful. A full charge can get you travelling approximately 400 miles, allowing for trips all over the UK without having to stop to get the battery back up to power. You can see top speeds of 200mph in the Model S Plaid and an impressive 0-60mph of just 1.9secs. All Model S vehicles now come with All-Wheel Drive.

Expect to pay £81,000-£97,000 for a brand-new Tesla Model S

Tesla Model X

The Tesla Model X could be your best option for a family car. Available in five or seven seats, this SUV provides plenty of luggage space too, so should a road trip be on the cards, you won’t have to worry about where you store your stuff and whether it will get in the way.

The rear doors are perhaps one feature that appeals to many, especially the kids. They open vertically, giving a more futuristic, space-age type feel to the vehicle!

Range-wise, you’ll be hitting around 340-360 miles on a single charge and seeing 0-60mph reached in just under 4 secs.  New models only come with the 100kw battery, but older editions will have the 90kw battery installed.

With stacks of safety tech included and plenty of onboard entertainment features, you can enjoy a drive with the family on board feeling fully confident that not only will you be safe but the kids won’t get bored. It also holds a five-star Euro NCAP rating with 98% for adult occupancy and 94% for safety assist among the highest that have ever been awarded.

For this premium edition Tesla, which comes with a host of incredible features, you should expect to pay from £99,000 to £131,000 for a brand-new vehicle.

Tesla Model Y

The Tesla Model Y is its mid-sized SUV offering and competes with the BMW X3 for size and style. It’s like the popular Model 3 in terms of internal features but offers just a little less mileage. A good all-rounder, the Model Y performs, with, as Elon Musk put it, “the ride of a sports car” but is very much a mid-sized SUV.  Five seats, fully self-driving and the standard Tesla interior tech make it a brilliant family vehicle.

Rear-wheel drive, as well as all-wheel drive, are available. You just need to decide which suits you best!

Expect to pay around £45,000-£60,000 for a brand-new Tesla Model Y.

How to charge a Tesla

If you are weighing up the Tesla as a car to purchase, charging will need to be a consideration.  After all, you can’t get anywhere on a flat battery!

Tesla has been a pioneer in electric vehicles, and as a result, the charging options are plentiful. The Tesla Supercharger Network has been integrated across Europe and all over the world, offering rapid charging for any Tesla model. Built to only accept the connection to a Tesla, these superchargers are your way to get your Tesla powered up and ready to go without a need for another charge for miles. Currently, you can get 100 miles of charge in approximately 20-30mins from them and with the Model 3, or the 2021 and onwards Model S, you could see the same result in just ten minutes. Each charger will give at least 100kw, and the V3 editions offer as much as 250kw!

You can also benefit from at-home charging with a Tesla home charger. These provide the fastest way to boost your car battery from home.  System updates are downloaded directly to the charger via home Wi-Fi, and you can even schedule your departure in your vehicle so that charging is optimised to deliver the best utility bill results for you.

You’ll also find Tesla has installed charging points at places you are likely to stop off at. They have installed over 40,000 wall connectors at Destination Charging locations such as restaurants, hotels, car parks, and more.

You should be perfectly covered by the Tesla Supercharger network and the options they provide at home and at the places you may visit. But at times, charging may need to be completed elsewhere. This is where the CCS sockets come into play.

Most newer Tesla models come with CCS sockets installed, meaning you can use any third-party charging station or device to replenish the battery. On older models that do not feature these, you simply invest in a converter that enables a charge from anywhere.

How much does it cost to run a Tesla?

We mentioned at the intro that you could be enjoying lower costs when owning an electric vehicle, and whilst a Tesla may cost you more to purchase than a combustion engine vehicle, you stand to see long-term benefits in owning one.

With escalating fuel prices a concern, it can be a breath of fresh air to see that filling up a car can be cheap. Whilst you don’t fill up an EV as such, the boost of power you give it to cover 300 miles is likely to cost anything from £10-£20. Now compare that to how much 300 miles of petrol will cost. You soon see the savings.

Then, as we mentioned earlier, the absence of ULEZ and other such charges could save close to £30 per day.

Back to the car itself.  We said earlier about there being fewer parts to maintain, and this stands to bring you a host of savings. Factor in that Tesla maintenance plans cover all essential work and can be moved to a new model when you upgrade, and your repair costs are more or less neutralised.

Depreciation is also a concern with any vehicle. Tesla offers a solution to that too, so that costs can be kept down. Should you be looking to upgrade to a bigger Tesla or potentially downgrade to something a little smaller, they offer a generous trade-in scheme also.

At Euphoria Finance, we can help you find the car you need. With access to over 50,000 vehicles, the car you dream of can be just a click away. Acting as direct lenders, we make it easy for anybody to secure the purchase of a vehicle. Car finance for very poor credit is something we specialise in and deals for brand new cars on finance open up a host of possibilities for you. Simply apply for quick car finance with a click today!