2024 Tesla Model 3: What You Need To Know

Update on April 17, 2024: The starting lease price for Tesla’s Model 3 is now $299 per month without taxes and fees, and prices are subject to change. This promotional lease offer is available until April 30. Available in select states only (currently available in AL, AK, AZ, CA, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NJ, NM, NV, NY, OH, OR, PA, RI, SD, TN, TX, UT, VA, VT, WA, WV, WY). Click Here to find out more in detail.

• New Features: Smart exterior design with slimmer headlights and a distinctive swooshing accent. The interior improvements include a quieter ride, made through softer springs and new suspension dampers. Steering refinement results in a more linear response and improved stability at higher speeds.
• Powertrain: Model 3 Rear-Wheel-Drive (RWD) with 241 hp and 0 to 60 mph in approximately 5.8 seconds, Model 3 Long Range (Dual Motor) All-Wheel-Drive (AWD) with 346 hp and 0 to 60 mph in 4.2 seconds.
• Charging Options: 57.5 kWh battery (27 minutes to charge from 20-80% with Level Three DC charger); 79 kWh battery (175 miles of range in just 15 minutes of charging with Level Three DC charger).
• Price: Model 3 $38,990 plus $1,390 destination charge, Model 3 Long Range from $45,990.

The 2024 Tesla Model 3 is a testament to Tesla’s commitment to innovation and refinement in the electric vehicle (EV) market. With a host of upgrades and improvements, this latest iteration of the Model 3 sets a new standard for electric cars.

Enhanced Performance and Range 

With powerful acceleration and range figures, the Model 3 delivers on both fronts. Whether opting for the Standard Range or Long Range version, you can expect a thrilling driving experience coupled with the convenience of long-range capabilities, making the EV a versatile choice for daily commutes or long road trips. For the base model, this trim has a range of approximately 272 miles on a full charge with acceleration just shy of six seconds from 0 to 60 mph. On the other hand, the Model 3 Long Range (Dual-Motor AWD), comes with an impressive range of approximately 341 miles on a single charge and swift acceleration, reaching 0 to 60 mph in just 4.2 seconds. 

Standout Features

One of the standout features of the 2024 Model 3 is its enhanced suspension and chassis. With softer springs and frequency-response suspension dampers, the Model 3 offers a smoother and more comfortable ride, elevating the driving experience to new heights. These improvements not only enhance comfort but also contribute to a more upscale feel in the cabin, setting the Model 3 apart from its predecessors.

The introduction of a variable-ratio steering rack and a more linear steering response adds to the overall driving experience, providing better predictability and improved stability, particularly at higher speeds. These adjustments make maneuvering the Model 3 a breeze, further enhancing its appeal to drivers seeking both performance and comfort.

Interior and Exterior Updates

In regards to the interior, the 2024 Model 3 has new comprehensive improvements, offering a more refined and comfortable driving environment. The refreshed face and tail, coupled with features such as blind-spot warning, acoustic glass, and an upgraded sound system, contribute to the Model 3’s sleek and modern aesthetic, setting it apart from its competitors.

Pricing, Financing, and Lease Information

The 2024 Tesla Model 3 comes in at a starting price of $40,380, which covers the base cost of $38,990 plus a $1,390 destination charge. If you’re thinking about financing, Tesla offers flexible terms from 36 to 96 months, so you can find a plan that fits your budget. Working with Tesla financiers, you can customize your payment plan to suit your financial situation. With a 72-month loan and no money down, you’re looking at around $682 a month at 6.59% APR. But if you can put down $4,500 upfront, your monthly payment drops to $606 before taxes and fees, giving you more wiggle room in your budget.

Leasing is another option worth considering, offering shorter commitment periods. You can choose from lease terms of 24, 36, or 48 months, depending on what works best for you. For example, the 2024 Model 3 Rear-Wheel Drive can be leased for $329 per month over 36 months. When you sign the lease, you’ll need to pay $5,524 upfront, covering a $4,500 down payment, a $695 acquisition fee, and the first month’s payment. With financing and leasing options available, the 2024 Tesla Model 3 ensures that there is a way for everyone to get behind the wheel, no matter their financial situation or preferences.

Warranty and Ownership Experience

The 2024 Tesla Model 3 has got your back with a solid warranty package, giving you peace of mind as you hit the road. You’re covered for 4 years with the Basic Vehicle Limited Warranty, which takes care of any material or workmanship issues during regular use. Safety-wise, the Supplemental Restraint System Limited Warranty steps in for 5 years, focusing on airbags and seat belts. Plus, your electric powertrain is covered too, with warranties for around 8 years, ensuring it stays reliable and efficient.

If you purchase a used Model 3 straight from Tesla, the warranty’s still got you covered. You’ll get whatever’s left of the Basic Vehicle Limited Warranty, up to 4 years. After that, the Used Vehicle Limited Warranty kicks in, giving you another year of coverage. And do not worry, the original Battery and Drive Unit Limited Warranty stays intact for used rides too. So, whether you’re driving off the lot in a brand-new whip or a pre-loved gem, Tesla’s warranty’s got you covered for the long haul.

Tax Credit Eligibility

The 2024 Tesla Model 3 does not qualify for the direct federal tax credit in the U.S. because it still uses Chinese batteries, even though it’s put together at the Fremont factory. But here’s some good news: you can lease the new Tesla Model 3 facelift for just $329 a month and receive the $7,500 government tax credit meant for leased EVs. So, while you might miss out on the direct purchase tax credit, leasing still looks pretty sweet for those eyeing the Model 3.

On the bright side, the 2024 Tesla Model 3 does qualify for the Clean Vehicle Tax Credit in the U.S., making it a win if you are an eco-conscious buyer. This federal incentive covers a bunch of Tesla passenger vehicles, including the Model 3, giving folks a chance to cut costs and support cleaner transportation options. With up to $5,000 for purchases or leases on eligible vehicles, individuals and businesses can make the switch to EVs without breaking the bank.

EV.com’s Take 

The 2024 Tesla Model 3 raises the bar for EVs, delivering a compelling blend of performance and comfort. With these remarkable features, the 2024 Tesla Model 3 undoubtedly stands out as a game-changer in the EV landscape, presenting an exceptional driving experience coupled with affordability and sustainability. Whether for guiding city streets or embarking on long journeys, the Model 3 will give you a driving experience that is unmatched in its class.

If you are looking for the 2024 Tesla Model 3, we can help you get started. Click Here to find the best deals near you. Want to learn more about EV? Thinking of buying an EV? Head over to EV.com and discover more.