2024 Tesla Model 3 Cost in New Jersey
Complete cost breakdown including taxes, insurance, fuel, and maintenance
Total 5-Year Cost
$60,656
Monthly Equivalent
$1,011
Sales Tax
6.625%
Annual Insurance
$2,727
Complete Cost Breakdown
Total Cost of Ownership
$60,656
Over 5 years in New Jersey
Monthly Equivalent
$1,011/mo
12,000 miles/year
Purchase Price
$40,240
Sales Tax
$2,666
6.625% in New Jersey
Registration
$595
5 years
Insurance
$13,635
$2,727/year
Electricity
$2,450
$490/year
Maintenance
$1,070
$214/year avg
Estimated Depreciation
$24,949
Your 2024 Tesla Model 3 will lose approximately $24,949 in value over 5 years
Vehicle Type
Sedan
Fuel Economy
132 MPGe
Reliability Rating
3.5/5.0
New Jersey Vehicle Costs
Sales Tax Rate
6.625%
State: 6.625% + Local: 0%
Avg Insurance
$2,020
Ranked #49 of 50 states
Registration Fee
$119
Per year (average)
Electricity Price
$0.16
Per kWh
Frequently Asked Questions
What is the total cost of owning a 2024 Tesla Model 3 in New Jersey?
The total 5-year ownership cost is approximately $60,656, which includes the purchase price ($40,240), sales tax (6.625%), insurance (avg $2,020/year), fuel, maintenance, and registration fees.
How much is insurance for a Model 3 in New Jersey?
The average annual insurance cost in New Jersey is $2,020. For this Model 3, the estimated annual insurance is $2,727, which may vary based on your driving record, age, and coverage level.
What are the registration fees in New Jersey?
In New Jersey, the average annual vehicle registration fee is $119. This may vary based on the vehicle's age, weight, and value.
Is a Model 3 expensive to maintain?
The 2024 Tesla Model 3 has a 5-year maintenance cost of approximately $1,070, with a reliability rating of 3.5/5.0, making it moderately reliable.
Customize Your Calculation
Calculate Ownership Cost
MSRP: $40,240 • Sedan
Sales Tax: 6.625% • Insurance Avg: $2,020/yr
How long do you plan to own the vehicle?
Average: 12,000 miles/year