Everyone and their mom want to own a Tesla! After all, they're all the fad nowadays. In major urban areas like LA and Dallas, all we see are Teslas, even more, common than the pedestrian Toyota Camry. They're a status symbol, a beacon of wealth and environmental consciousness, as well as easy to maintain, as they're perceived.

That might not be the case as Teslas tend to have hidden costs across the board that you may not have thought about in the realms of charging, maintenance, and practicality to own. The Model Y is the most affordable Tesla, quickly becoming the company's fastest and most popular selling vehicle.

Starting at $53,490 before federal tax credits and a goodie bag of rebates, the 2022 Tesla Model Y has quickly become a staple of modern suburban society. Underneath that curvy-shaped frame lies some secrets... hidden costs you may not have thought of when you look at it at a glance. The Model Y is a very popular and sought-after EV, but that doesn't mean it has some financial hoops to jump through during ownership.

RELATED: 10 Reasons You May Want To Consider Buying A Tesla Model Y

How Much Does It Cost To Charge A Tesla Model Y?

gray 2023 Tesla Model Y on a road
Tesla

Look, we get it, buying an EV is enticing because of its perceived low cost to charge. While being much more affordable than a regular internal combustion engine, fast charging isn't usually free. While in some locations, the charging infrastructure isn't pay-to-use, supercharging comes at a price.

When going on a road trip, for example, supercharging at a Tesla location usually costs around $.25 per kWh, meaning a full charge back to 250 miles will run your wallet around $22.00. That all depends on your area, location, and electricity charges for your region at the time, reports have to supercharge, costing upwards of $40 in some locations across the United States.

Much cheaper than a regular fill-up at the gas station, but it isn't the cost-free lifestyle most people think of when buying a Tesla. Ryan Shaw has put up a YouTube video explaining the true cost of owning a Tesla Model Y. It cost over $2,000 over the span of 2 years when charging at home.

Most EV owners use their in-house chargers to fill up their cars, which in and of itself costs money to install a home charger, usually running the consumer from around $200 to upwards of $700 plus the cost of installation depending on the charger. Chargers aren't plug-and-play either, with installation requiring a licensed electrician in most cases contingent on them finding a place to put the charger, a whole another hassle in and of itself.

The Real Cost To Maintain A Model Y

Red 2021 Tesla Model Y
Tesla

By principle, an EV will never have nearly the same amount of maintenance as an internal combustion vehicle. However, the Model Y does require maintenance that is specific to Teslas, and servicing them might be a niche task that can't be done at any old repair shop. The average maintenance cost for a Model Y works out to be $832 per year according to Jalopnik, but notes that when the Tesla breaks down, parts are unique and have to come from a very specific source-- Tesla itself, meaning they can surcharge the consumer at will.

Since the brand is still in its infancy as an automaker, information is hard to come by, and studies are sparse, but one thing is clear. Quality control has been an issue per early reports by customers. The word on the street has consistently been the lack of attention to detail, including shoddy paint, loose trim pieces, and bad stitching.

This doesn't fare well as repainting a whole car usually breaks the bank heavily, and Tesla's warranty is 4 years/50,000 miles for non-powertrain-related issues, expiring well before these issues might show up. Once you're out of warranty, as with any other EV, batteries will have to be replaced. And we're not talking about the Interstate Batteries you get at your local AutoZone, these lithium-ion batteries will run you over $15,500 at a Tesla location for the Model Y, just another thing to keep in mind before you pull the trigger.

RELATED: These Are The Biggest Flaws Of The Tesla Model Y

Real Cost Of Ownership Of A 2022 Model Y

Tesla Model Y Rear Quarter Blue Driving
Tesla

Insurance isn't exactly cheap for Teslas either. This isn't something simple like a Toyota Corolla to insure. While insurance rates may differ depending on a plethora of different factors, the average going rate is $10,035 over 5 years, working out to a little over $2,000 per year. Edmunds puts the total 5-year cost of owning the Model Y at $66,543, a high premium over what usual vehicles go for.

$29,176 of that cost is a depreciation expense, a massive cost to factor in when purchasing a Tesla, as these vehicles aren't fabled for holding their value. While Teslas are the new kids on the block, the consensus seems to be these cars aren't exactly the no-cost alternative they are made out to be. Instead, they have hidden costs and fees that you probably didn't even take into consideration.