Consumers have many opportunities to benefit from the current market conditions. Unlike just a short time ago, when vehicle inventories were depleted due to pandemic supply-chain issues, buyers now have many opportunities to take advantage of these market conditions.
It is evident that a buyer’s market is in effect these days as auto inventories are at their highest levels since 2020. Although Toyota’s inventory is lower, that’s not surprising since the Camry is the most popular car in the country.
Hers’s the comparison between Tesla model 3 vs Toyota camry.
Lap of Luxury
In the case that you’re shopping for an electric vehicle, where innovation never stops, leasing a car could be a good strategy if you don’t want to commit long-term. In most cases, you can lease a car for a few years, say 24 to 36 months, and your mileage limit is between 10,000 and 15,000 kilometers per year.
A lease is the better option if you are looking to save money in the short term. Because you won’t be paying back principal, your payments are likely to be lower. Because of this, you’ll likely be driving a car you’d never otherwise be able to afford, like a Tesla.
It is crucial to have an accurate understanding of the cost associated with leasing a vehicle. In the case of both Tesla Model 3 vs Toyota Camry, you will likely find that they are both very closely matched in terms of their cost.
Tesla Model 3
- Model 3Â
- Model Year: 2024Â
- Monthly Payment: $329
- Down Payment: $4,500
- Cost to fully charge the battery: $10.95-$14.70
It’s possible to get one of the most recognizable vehicles on the market without breaking the bank. With a down payment of $4,500, and a monthly payment of $329, the Tesla Model 3 fits into your budget.
Tesla tends to emphasize ownership rather than leasing, despite its direct sales model, which excludes third-party dealers. Tesla leasing is available in 44 states, except for the Model 3 and Cybertruck, and Tesla has been reducing their prices.
You won’t be able to take advantage of EV tax credits when leasing, even though they often go hand in hand. Consumer Reports notes that lease companies, not leasers, are entitled to EV tax credits, which can be worth as much as $7,500. However, you might still be able to benefit if EV manufacturers pass along those savings to consumers through lower lease prices.
The EV tax credit was not applicable to the Tesla Model 3 Rear Wheel Drive or Long Range as of 2023.
A Tesla Model 3 leased after April 15, 2022 is not eligible for purchase when the lease runs out. According to Tesla, it is not eligible for purchase after the lease ends.
It costs $429 a month to lease the Tesla Model 3 RWD for a three-year term with a $4,500 down payment in Q4 2023, which is just under $20,000. If you were to buy it, it would cost about $40,000 during this time.
After three years, though, Model 3 owners gain an advantage because they can then sell the car for around $25,000, an advantage that leasers don’t have.
You’ll be able to accelerate from zero to 60 MPH in less than three seconds if you decide to buy the High Performance model of the Model 3, which costs about $40,000.
Model 3 Highland EV was updated last year with new features, a revamped interior, and new technology. Tesla’s new Performance EV takes this one a step further.
Toyota Camry
- Model: Camry Hybrid LE
- Model Year: 2024Â
- Monthly Payment: $439
- Down Payment: $2,399
- Cost to fill the tank: Approximately $48
Approximately $28,855 for the 2024 Camry Hybrid LE, you’ll need to pay $439 per month for the lease. You pay $110 more per month than with Tesla’s Model 3 because the term includes 36 months and 12,000 miles. But you offset that expense by paying a $2,399 down payment, a $2,100 difference from Tesla’s.
In contrast, hybrid vehicles like the Toyota Camry are powered by gasoline, whereas Tesla Model 3 can be fully charged for under $20. Toyota’s newer cars are now equipped with lithium ion batteries instead of nickel batteries. It can cost up to $5,000 to replace a replacement battery for a Camry hybrid today, according to J.D. Power. Since they can last between five and eight years from the assembly line, you may not have to replace yours. The weather can also have an impact on battery life, so there’s no hard rule.
In addition to getting 51-53 mpg, the Toyota Camry yields a reasonable amount of cash back. If you’re interested in keeping the car, Toyota may issue a buyout quote. A semiconductor shortage has affected Toyota’s supply.
Knowledge Is Power
In the end, the choice between a Tesla Model 3 vs Toyota Camry comes down to personal preference. Whatever car you decide to buy, make sure you understand your mileage needs so you don’t overpay. Undershooting costs you $0.15 to $0.25 for overages. If you overshoot, you’ll have to pay for road trips that you never took. You’ll pay $1,250 if you’re 5,000 miles over.Â
Whether you’re leasing a Model 3, Camry or any other vehicle, you need to know what you want and need from the dealership. This applies to any lease deal.
Frequently Asked Questions
Is the Model 3 better than Camry?
Comparing the Tesla Model 3 to the Toyota Camry depends on various factors such as personal preference, needs, and priorities. The Model 3 is an electric vehicle known for its high performance, advanced technology, and zero-emission driving. On the other hand, the Camry is a traditional gasoline-powered sedan with a reputation for reliability, comfort, and affordability. Ultimately, whether the Model 3 is “better” than the Camry is subjective and depends on what features and qualities are most important to the individual buyer.
How much does a Tesla weigh compared to a Toyota?
The weight of a Tesla Model 3 varies depending on the specific model and configuration, but it generally ranges from around 3,500 to 4,000 pounds (1,588 to 1,814 kilograms). In comparison, the weight of a Toyota vehicle like the Camry also varies based on the trim level and features, but it typically falls within a similar weight range. However, it’s important to note that electric vehicles like Teslas tend to have heavier battery packs, which can contribute to their overall weight compared to traditional gasoline-powered vehicles.
What is the real range of the Tesla Model 3?
The real range of the Tesla Model 3 varies depending on several factors, including the model year, battery size, driving conditions, and driving habits. As of recent models, the Long Range version of the Model 3 offers an estimated range of around 350 to 400 miles (563 to 644 kilometers) on a single charge, while the Standard Range version typically offers a range of around 250 to 300 miles (402 to 483 kilometers). These ranges may vary in real-world driving scenarios.
Is the Tesla Model 3 good looking?
Beauty is subjective, but many people find the Tesla Model 3 to be aesthetically pleasing. Its sleek and minimalist design, coupled with clean lines and futuristic features, has garnered praise from both automotive enthusiasts and casual observers. However, opinions on aesthetics vary from person to person, so what one individual finds attractive, another may not. Ultimately, whether the Tesla Model 3 is considered “good looking” is a matter of personal taste.
