I often encounter people that assume that every Tesla driver is super duper rich and that it’s far more expensive to drive a Tesla than a more obviously “mainstream” car. In this article, we compare two similarly priced vehicles – the Tesla Model 3 and the Toyota Camry.

What We’re Comparing

We’re going to compare a new 2026 Tesla Model 3 Premium RWD to a new 2026 Toyota Camry XSE FWD. Yes, you can get cheaper trims of both vehicles, but let’s face it, most people don’t buy the base model of vehicles. And even if you want one, actually finding a base model vehicle on a dealer lot is, well, good luck. Obviously Tesla is different, because you just order whatever you want off their website, but more on that later. And please, before you complain that I’m comparing the second cheapest trim of Model 3 to an upper trim Camry, understand that Tesla includes a lot of tech and features that you have to pay extra for on Toyota, so in terms of features, we’re fairly comparable at this price point.

If you don’t want to read this whole article, and just want the numbers, click here.

Vehicle Purchase Price

Please note that this pricing excludes additional fees like tax, title, license, emissions, tire, etc. that are common for new vehicle purchases.

2026 Toyota Camry XSE FWD

• MSRP: $41,254
• Destination Fee: $1,195
• Dealer Doc Fee: $1,000
• TOTAL PRICE: $43,449

2026 Tesla Model 3 Premium RWD

• MSRP: $42,490
• Destination Fee: $1,390
• Order Fee: $250
• TOTAL PRICE: $44,130

A Note On Dealer Experiences

This is a big one… when you get or service a Tesla, it’s done through their website and mobile app. And while Tesla does sometimes discount vehicles already in inventory, when it comes to getting a car from them, generally the price is the price. Overall, the experience is pleasant and hassle-free.

On the other hand, when you want a Toyota, you have to deal with a dealership. And for most people, that’s a negative. Now, in theory making a deal with a dealership can be a positive as if you’re a savvy buyer and the conditions are right, you can get a discount. But, for the most part, especially for a Toyota Camry, which is a desirable vehicle that dealers don’t have any trouble selling, you’re not going to get much of a discount, and even if you manage a discount, most dealers get you back with overpriced BS add-ons like nitrogen filled tires, goofy paint protection, wheel protection, etc.

In the end, for the sake of this comparison, we’re going to assume you get both vehicles at their listed MSRP with no additional dealer add-ons but also no discounts of any type.

Interest Rates

As of January 2026, when I’m writing this, Tesla has been slowly losing EV marketshare for at least a year. The reasons for this depend on who you ask, but the most obvious factor is that while it used to be that EV = Tesla, now there are just so many options across most segments. Just GM alone makes like a dozen different fully electric vehicles, then you have another tech-first EV-only company like Rivian who offers an almost-Tesla experience when it comes to trucks, as long as you don’t need Tesla FSD.

The point of me going on about all this is that Tesla has a slightly stale (although still fantastic) line-up of vehicles that, on the mass market, consists of the Model 3 and the Model Y. And while they are continually refreshing these with hardware and software updates, they’re on the boring side at this point. After all, Teslas are sometimes called the “California Corolla” for a reason – here in Napa, it seems like every fourth car is a Model 3 or Model Y, and if you go to Fremont, every third car is a Tesla.

So, in the end, Tesla has to make up for this with incentives and discounts. And part of that is promotional APRs. That’s basically Tesla buying down the interest rate. A common tactic from companies of all kinds – but while it might feel like less of a discount than an up-front discount, it can lead to VERY significant cost savings over time.

Right now, Toyota’s website is offering a promotional 4.99% APR on a 72 month loan on a Camry, while Tesla is offering a promotional 2.99% APR for 72 month loans.

Assuming your credit is sufficient for that offer, and you put $5K down, once you account for taxes and fees, you’re probably financing about $45,000. The difference is about $3,000, and the advantage in this case goes to Tesla. Also, if you’re OK with the base model Model Y, which is a $40,000 vehicle, they’re currently offering 0% APR on that – a savings of almost $7,000 compared to the 4.99% APR on the Toyota.

But, we’re talking about the Model 3 here, so let’s stick with a Tesla cost savings of $3,000.

Regular Maintenance

When it comes to regular maintenance, we’re not going to discuss things that all vehicles need – tire rotations, wiper blades, cabin air filter. We will touch on tires in the next section, but for the most part, as a Tesla driver, you don’t really need to do any of the typical stuff you’d expect from a traditional car – oil changes, transmission fluid flushes, etc.

On a Camry, you don’t need to do much to get to 100,000 miles, but let’s cover the basics – engine oil and filter changes and engine air filters.

• Engine Oil and Filter Change (Every 6 months): $100
• Engine Air Filter Change (Every 30K miles): $50

Sure, you can do it yourself for way cheaper, but very few people do that, so we’re going to assume typical shop or dealer pricing. To get to 100,000 miles across 7 years for our Camry, we end up with 14 oil changes, and 3 air filters.

Some simple math gets us to $1,550 of additional maintenance. Now, at 100K miles it gets more expensive – that’s typically when you would want to do spark plugs, transmission fluid, and more, but since we’re focusing on what it takes to get to 7 years or 100K miles, not what it takes to get beyond that, let’s move on.

Tire Replacements

Obviously, both a Camry and a Model 3 need tires. But I’m separating this because there seems to be a misconception that all EVs chew through tires quicker than all gas cars and that they need super special super expensive tires. That isn’t entirely true. Let’s break this down and get a real price for you to compare.

For price comparison, we’re going to use Tire Rack, and look for all-season tires where a set of 4 is in stock. We will exclude clearance, discounted, out of stock, rebates, etc. Also keep in mind that most major tire shops will have no trouble putting tires on a Tesla – you don’t have to take it to Tesla for tires.

Pricing listed below is by set of 4, excluding taxes, fees, and installation.

Camry (235/40R19)

• Cheapest Tires: Radar All Season GT, $471.96
• Consumer’s Highest Rated Tires: Goodyear Assurance Weatherrready2, $1,071.96
• My Pick for Tires: Vredestein Quatrac Pro+, $987.08
  

Model 3 (235/45R18)

• Cheapest Tires: Radar Dimax AS-9, $382.52
• Consumer’s Highest Rated Tires: Goodyear Assurance Weatherrready2, $963.96
• My Pick for Tires: Goodyear Electricdrive2, $1,043.96
  

Now, let’s discuss lifespan. How you drive is probably going to have the biggest effect on this.

The Camry, being FWD, is going to wear the front tires far more than the rear tires. Rotations will keep this in check, but in theory, you could probably save money (assuming there are no rebates on sets of four), by never rotating them and buying 2 at a time. But generally, people just rotate them regularly and buy four at a time.

On the Tesla, the additional ~200lbs of curb weight, and more powerful motor, will lead to slightly higher tire wear overall. In this case, my pick for tires on the Camry has a 55K mile treadwear warranty, and on the Tesla, a 45K mile treadwear warranty.

So, let’s assume that’s how long the tires last. I know that it’s not easy to do this math given that it’s hard to calculate the value of leftover tires at trade in time. But, it’s generally accepted that if you trade in a 100K mile car that needs new tires, they’ll get you on that, but on the other hand, putting a brand new set of tires will not completely pay for itself either.

So, let’s say that we have to buy tires twice in the ownership period. In the end, that’s a $100 difference.

Mobile App and Infotainment Connectivity

Tesla offers their mobile app completely free, forever. On the other hand, Toyota charges $15/month for theirs. And when it comes to in-car connectivity, Tesla charges $10/month for Premium Connectivity, while Toyota’s pricing varies, although from my understanding, it’s $25/month to bundle app connectivity and infotainment system data.

If you don’t plan to use app features and are just going to use CarPlay or Android Auto in your Toyota, it’ll be $0 for both manufacturers. However, given that it is 2026, and most people do care about this stuff, let’s assume you pay $10 for Tesla’s premium connectivity, and you pay $15 for the Toyota app.

In 7 years, that’s $840 going to Tesla and $1,260 going to Toyota.

Insurance and Registration

Insurance pricing is very, very hard to compare. It depends so much on your location, personal driving history, zip code, annual mileage, insurance bundles, other drivers in your household,

But, traditionally, insurance for electric vehicles has been higher than gas cars, and higher for Teslas than other EVs. But, now that pretty much all vehicles have sensors and other tech, and Teslas have become more common, the difference isn’t huge.

Also, if you live in a state where Tesla insurance is available, sometimes it can be quite a bit cheaper than other providers. So, in the end, while it’s probably pretty similar overall, let’s say that the Tesla costs an extra $3,500 to insure over the course of 7 years.

In terms of registration, this varies by state. While many states do require smog tests on a recurring basis that obviously won’t apply to an electric car like a Tesla, some states do actually charge a higher registration fee for electric cars to help recover the loss in fuel taxes compared to a traditional gas car. As this varies greatly, we’re going to assume the registration cost is ultimately the same. But you’ll have to do your own math where it applies to you.

Fuel Cost

This one is tough to compare too, as it varies so much based on your location and personal situation. Then we’ll come up with some average numbers that we can use in our final numbers for comparison purposes.

Keeping in mind that our example Camry is rated for 50MPG. And let’s say our Tesla will get 4 miles/kWh.

While gas prices do vary greatly, it’s pretty simple to calculate.

• Lowest cost regular gas in the US: $2.25/gallon
• Cheapest regular gas in Napa, CA: $3.69/gallon
• Average cost of regular gas in the US: $2.84/gallon

Electricity cost varies greatly. If you already have a solar and battery storage system in your home, in theory, electricity could be free. Or maybe you charge for free at work.

• Free (Existing Solar & Battery System or Workplace Charging): $0.00/kWh
• Typical home power cost in Napa, CA (PG&E): $0.60/kWh
• Average home power cost in the US: $0.18/kWh

Here’s a summary of how that works out over the course of 100,000 miles.

Vehicle	Lowest Cost	Napa, CA Cost	Average US Cost
Camry	$4,500	$7,380	$5,680
Model 3	$0	$15,000	$4,500

As you can see, while your cost to charge an EV and cost to put gas in a regular car can either be far cheaper, or far more expensive, we’ll use the averages to assume that a Model 3 will save you $1,180 to drive 100,000 miles compared to the Camry.

Depreciation

EV depreciation is totally insane, while the Camry is an example of a vehicle that depreciates far less than average, thanks to Toyota’s reputation for reliability. While I can’t predict the depreciation of a brand new 2026 vehicle, as I don’t have a time machine or functioning crystal ball handy, we can use historical data to approximate it.

• 2021 Toyota Camry (Hybrid) with 100K miles, approximate used value as of January 2026: $20,000
• 2021 Tesla Model 3 (RWD) with 100K miles, approximate used value as of Janurary 2026: $19,000.

Now, the vehicle pricing landscape has changed a lot in the last five years. Add in inflation, the math gets even more difficult. But let’s compare the price of the new vehicle to the price of the used ones.

Vehicle	New Price	Used Price	Estimated Depreciation
Camry	$43,449	$20,000	$23,449 (54%)
Model 3	$44,130	$19,000	$25,130 (57%)

As you can see, while a Model 3 depreciates more than a Camry, it’s not as bad as you might think across a 7 year, 100,000 period. When it comes to depreciation at the beginning (let’s say, the first 2 years or 20,000 miles), the Tesla depreciates much, much worse – but if that’s how long you plan to keep the vehicle, you’ll be leasing anyway, so it’s different math.

In our example period, the Tesla costs an additional $1,681 in depreciation.

In Conclusion

Before I give you a final table that shows the total cost differences between these two vehicles, let me make a point… which of these vehicles you would personally prefer is complex. I know that I love my Tesla and will probably never buy another vehicle that isn’t fully electric ever again. The silent and smooth driving experience, quick performance, and awesome features that a software-defined car from a tech company can deliver is just so much better than what a Camry offers.

Oh, and if you’re willing to fork over $100/month for Tesla FSD, your car can safely drive you pretty much anywhere, anytime. Even if you only subsrcibe for a road trip, no other automaker offers ANYTHING like that.

Beyond the features of the vehicle, I also know that my short commute, ability to plug in at home, moderate climate, and plethora of public charging options in California make EV ownership hassle-free. If you lived in an apartment building without the ability to charge there in a cold climate and have a long commute, an EV may not even be an option.

Anyway, enough of my blabbing, here’s the table that shows how the Camry and Model 3 really compare.

Attribute	Camry	Model 3	Tesla Cost Difference
Purchase Price	$43,449	$44,130	+$681
Interest Charges	$7,165	$4,213	-$2,952
ICE Maintenance	$1,550	$0	-$1,550
Tire Replacement	$1,974	$2,088	+$114
Subscriptions	$1,260	$840	-$420
Insurance	$0	$3,500	+$3,500
Average Fuel	$5,680	$4,500	-$1,180
Depreciation	$23,449	$25,130	+$1,681
TOTAL	$84,527	$84,401	-$126

As you can see, it’s actually $126 cheaper to drive a Tesla Model 3 than a Toyota Camry for 7 years or 100,000 miles. Obviously this math is not the same for everyone, but it just shows that next time you see someone get out of a Tesla, you shouldn’t assume they’re some crazy rich person… they literally spent less than they did on a Toyota!