Tesla Model 3 Vs Honda Accord Hybrid: 5-Year Cost Of Ownership Analyzed

Name: Tesla Model 3 Vs Honda Accord Hybrid: 5-Year Cost Of Ownership Analyzed
Uploaded: 2020-05-26T15:05:51Z
Description: The Accord Hybrid is well-priced and returns fantastic fuel economy. However, the Model 3 is the most efficient car you can buy. How does it all add up?

Is the Accord Hybrid actually cheaper to own over time?

Steven Loveday

By: Steven Loveday

May 26, 2020 at 11:05am ET

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According to Tesla's website, the Model 3 starts around $40,000.However, you can still get the $35,000 off-menu Model 3, which will cost you $36,200 once you include destination and fees. The Honda Accord Hybrid carries a starting price of $25,620 before the destination fee.

In this video, Cleanerwatt compares the on-menu $39,990 Model 3 to the Honda Accord Hybrid EX, which starts at $29,520. This comparison makes the most since the off-menu Model 3 has some key features missing, and the Accord Hybrid EX is a step up from the base trim level, giving it a feature set that's more similar to the Tesla's.

At this point, we've seen many cost-of-ownership comparisons like this from Cleanerwatt. You can argue that these two cars shouldn't be compared, you can argue that depreciation is a problematic part of the equation, etc. In fact, you can poke holes in any comparison if you dive in. However, the point here is to see what it might cost you to own a gas car or a traditional hybrid compared to an electric car over a length of time.

So, you'll spend about $10,000 more upfront to get a Model 3. Will you recoup that over time? Let's take a look at the numbers.