More than four years have passed since Sean Murray reviewed the Tesla Model 3 for the first time here on HotCars. A lot of things changed for this EV in the meantime, starting with the specs and build quality. Indeed, from a one-car company, Tesla has grown into one of the most valuable automakers with a significant market capitalization. The Model 3 grew with it.

In 2021 and 2022, the Tesla Model 3 became one of the best-selling EVs worldwide. It's no wonder why. Who would skip on a vehicle with impressive performance, snappy acceleration, good looks, and amazing driving range — not to mention enhanced tech?

However, as the EV market continues to grow and welcome new companies and vehicles year after year, customers may become pickier. Why wouldn't we? The high competition in the field allows us to compare the performance, design, and, ultimately, the price that different rides offer.

So, the question is, where does "the cheapest" Tesla stand these days in terms of pricing? Is it still a bargain following the inflation surge?

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The Tesla Model 3 Pricing Under The Spotlight: How Much Does The Least Expensive Tesla Cost?

Do you remember when the Tesla Model 3 was $36,000? We neither. It sometimes seems like a distant dream that maybe hasn't happened at all.

Now, jokes aside, this EV held the initial affordable pricing only for a brief period, or more specifically, until 2021. During the last two years, the cheapest Tesla saw a significant price upgrade. Blame it on the economy, the inflation, or Tesla itself, it doesn't matter — the Model 3 now starts at $46,990 (if you manually switch to 18-inch aero instead of 19-inch sports wheels) without any fees and extras. You get standard specs, equipment, and a rear-wheel drive, and that's about it.

If you want to get any extras with your Tesla Model 3, expect to pay at least $50,000. Blue, black, or red paintwork will set you back between $1,000 and $2,000 — not to mention the interior color, the Enhanced Autopilot (a whopping $6,000), and Full Self-Driving Capability (jaw-dropping $12,000).

For the Performance version of this EV, which has an all-wheel drive, you need to pay $62,990 from the start. The Long Range trim was somewhere in the middle at $55,990 MSRP, but it's not available anymore. Oh, but regardless of the trim, you must cash out an additional $200-$400 for charging connectors. How great is that?

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Ownership Expenses Of The Tesla Model 3

When it comes to ownership costs, the Tesla Model 3 should be significantly more affordable to maintain than gas-powered vehicles. Firstly, electric engines have fewer moving parts than internal combustion ones. Secondly, you don't have to perform oil, fuel filter, and spark plug changes. You only need to check the cabin air filter, tires, brake fluid, and air conditioning now and then (read 2 to 6 years). Did we mention the fuel savings? Of course, that is an important factor in the story.

So, The Tesla Model 3 should prove significantly more cost-effective over time. However, keep in mind we're not counting on unexpected failures. If your battery fails on you, for example, you can expect to pay from $2,000 to $4,000.

What Is The Resale Value Of The Tesla Model 3

The great thing about the Tesla Model 3 is that it retains its resale value well. Although not enough time has passed to give a definite and objective calculation, it so far seems that this EV is holding better than most other Tesla vehicles and a lot of gas-powered ones from other brands.

Take as an example the 2020 Tesla Model 3. During the order and delivery of this production year, the starting price was from about $36,000 to $56,000. These days, if you search for this specific model, you can expect to find it bearing the same price tag.

So, if you end up buying a new Tesla Model 3, you can at least expect to get a great resale value on it when you decide to sell the ride.

The Final Verdict On The Tesla Model 3 Value For Money

In summary, it's hard to say the Tesla Model 3 is a bargain with such increased pricing and expensive additional features. Is it worth the money? Yes, absolutely. The Tesla Model 3 is an admirable and handsome performer that has so much to offer to prospective customers. It also has a high resale value and should be very affordable to maintain over time.

So, purchasing the Tesla Model 3 makes perfect sense as long as you have that amount of money. But is it a bargain? Not quite.