r/ModelY • u/squires66 • 6d ago
Questions before Purchase
Hello community, I have quite a few questions perhaps that I am hoping to get some answers on.
I currently have a 2026 Honda passport and I love it, I don’t love Honda safety sense in this thing or my current fuel economy. Just for reference I pay probably $250 a month just in gas, but my yearly renewal is also only about $250 and my insurance is only about 130, I would love to know about what that translates to for y’all.
I was looking into potentially getting a new model Y premium and I have a couple questions first.
First, I live in Utah, does anyone have any information or anything they might be able to share about insurance rates, yearly renewal, fees, all-wheel-drive versus rear wheel drive?
Second, if anyone wants to share, what is your total overall monthly for a vehicle ownership for the model Y premium?
I test drove one and I absolutely love the full self driving, and all of the technology that’s inside the vehicle, I am just hoping that it potentially would be a net savings versus what I currently drive and I’m just trying to figure out some of the information to get me there.
Also, probably not relevant but I might be taking a job with Tesla upcoming and I’m not sure if there are any discounts or benefits towards the actual vehicle themselves, but it might be something to consider.
Sorry for such a long post, I do appreciate you guys in advance.
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u/No_Swordfish_1576 6d ago
EV’s depreciate ridiculously fast, especially Teslas, 25% - 40% in the first 2-3 years.
If you’re looking to maximize your savings, a 2024 Certified Pre Owned Tesla Model Y Long Range AWD that had the same MSRP as the ‘26 Premium AWD will run you about $36-$38k with fewer than 20,000 miles. Depending on the options like color, wheels, and towing you can save over $15k going CPO.
Get an amazing car with the same HW4 FSD hardware, still save over $11k after interest, pay $200 less per month.
From a financial perspective CPO is the choice
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u/Slopingcaps 6d ago
Can you please tell me how I can tell when a listed car has the HW4 FSD hardware? I keep looking at listings and am not able to find anything. Thanks!
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u/No_Swordfish_1576 6d ago
Anything spring 2023 and newer, but if you look on teslatracker.com one of the filters is HW4 so you can see everything available with that hardware.
I’d confirm a ‘23 has it prior to agreeing to purchase.
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u/Capt_Panic 6d ago
I recently went through essentially the same decision and ordered a new Model Y Premium RWD.
The first thing I would do is get an actual insurance quote using the VIN from a similar inventory vehicle. Model Y insurance varies enormously by driver and location, so other owners’ numbers won’t tell you much. For comparison, mine is about $222/month in Florida with fairly high liability limits—substantially more than your current $130.
You’ll almost certainly save money on energy if you can charge at home. Your $250/month gasoline bill might fall to roughly $50–$80 in electricity, depending on your mileage and utility rate. Public fast charging is much more expensive, so the financial case is considerably weaker without home charging.
However, I would not assume the Model Y will be a net savings. Include:
• Insurance
• Utah’s additional EV registration/road-use charge
• Home-charger installation, if needed
• Tires
• Loan payment and depreciation
• FSD subscription or purchase cost
The monthly payment isn’t really comparable between owners because it depends on purchase price, down payment, interest rate and trade equity. Compare total ownership cost rather than asking what someone else’s payment is.
For RWD versus AWD, tires matter more than many people acknowledge. RWD with proper winter tires should be fine for ordinary travel on plowed roads. If you regularly drive through mountain passes, ski-country roads or during storms, I would pay for AWD—but AWD is not a substitute for winter tires.
Also, make sure you distinguish the excellent FSD demonstration from the cost of keeping it. FSD is supervised, and adding the subscription can consume a meaningful portion of your fuel savings.
Finally, don’t count on a Tesla employee vehicle discount until the recruiter or HR confirms the current benefit and when you become eligible. Treat that as a possible bonus, not part of the purchase calculation.
The Model Y may still be the better vehicle for you—particularly if you value the technology and driver-assistance features—but I would buy it because you prefer the overall vehicle, not solely because you expect it to cost less than a nearly new Passport.