2024 Tesla Model 3 Cost in New Mexico
Complete cost breakdown including taxes, insurance, fuel, and maintenance
Total 5-Year Cost
$57,006
Monthly Equivalent
$950
Sales Tax
7.57%
Annual Insurance
$2,052
Complete Cost Breakdown
Total Cost of Ownership
$57,006
Over 5 years in New Mexico
Monthly Equivalent
$950/mo
12,000 miles/year
Purchase Price
$40,240
Sales Tax
$3,046
7.57% in New Mexico
Registration
$400
5 years
Insurance
$10,260
$2,052/year
Electricity
$1,990
$398/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 Mexico Vehicle Costs
Sales Tax Rate
7.57%
State: 4.875% + Local: 2.69%
Avg Insurance
$1,520
Ranked #33 of 50 states
Registration Fee
$80
Per year (average)
Electricity Price
$0.13
Per kWh
Frequently Asked Questions
What is the total cost of owning a 2024 Tesla Model 3 in New Mexico?
The total 5-year ownership cost is approximately $57,006, which includes the purchase price ($40,240), sales tax (7.57%), insurance (avg $1,520/year), fuel, maintenance, and registration fees.
How much is insurance for a Model 3 in New Mexico?
The average annual insurance cost in New Mexico is $1,520. For this Model 3, the estimated annual insurance is $2,052, which may vary based on your driving record, age, and coverage level.
What are the registration fees in New Mexico?
In New Mexico, the average annual vehicle registration fee is $80. 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: 7.57% • Insurance Avg: $1,520/yr
How long do you plan to own the vehicle?
Average: 12,000 miles/year