Should You Buy a 2023 Tesla Model 3?

2023 Tesla Model 3

Tesla just did some drastic price cuts. Now is the perfect time to buy your 2023 Tesla Model 3 if you are in the market for one.

The Tesla Model 3 RWD with LFP batteries is $43,990 if you buy it before March 2023. At that time, battery requirements for the $7,500 IRA tax credit in the U.S. are likely to change and the tax credit may not be the same at that time. Yes, it's all confusing.

Here's what you get with the Model 3 RWD, the Model 3 long range, and the Model 3 Performance:

Model 3 RWD:

* Base Price: $43,990
* Final Price With Tax Credit: $36,490
* Range: 272 EPA range
* Battery: LFP, which degrades about 1/2 slower and can be charged to 100% regularly
* 0 to 60 mph: 5.8 seconds
* Top speed: 140 mph
* Notes: I own this vehicle and love it

Model 3 Long Range:

* Base Price: $49,990
* Final Price With Tax Credit: $42,490
* Range: 358 EPA range
* Battery: Lithium-ion, which degrades faster and shouldn't charge to 100% regularly
* 0 to 60 mph: 4.2 seconds
* Top speed: 145 mph
* Notes: Only available from Tesla's existing inventory - you cannot customize it right now

Model 3 Performance:

* Base Price: $53,990
* Final Price With Tax Credit: $46,490
* Range: 315 EPA range
* Battery: Lithium-ion, which degrades faster and shouldn't charge to 100% regularly
* 0 to 60 mph: 3.1 seconds
* Top speed: 162 mph
* Notes: An incredibly fast car

Any of these options are great for you with the Model 3 RWD being the cheapest. It has one rear motor, the Model 3 long range has two motors and the Model 3 Performance has two motors.

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Comparable Vehicles

To see what cars compare with each of these Tesla vehicles, we'll start with the Model 3 RWD. The price of this after the tax credit is $36,490. Comparable vehicles are:

Toyota Camry XLE V6, which is a gas powered vehicle with a price of $36,095. It also competes with the Toyota Camry XSE V6, which costs $36,645. With the maintenance cost of an EV and fuel cost being so much less, it's tough to see how someone could buy a comparable gas car in that range.

Next is the Model 3 long range, which has a price of $42,490 after the IRA tax credit. Comparable vehicles are:

BMW 3 Series Sedan, which has a starting MSRP of $43,800. This is a gas car and has lots of add-ons, which can get the price higher than that. Again, it's tough to see why someone would get a gas car with the savings you get.

Lastly, the Model 3 performance, which has a price of $46,490 after the IRA tax credit.

Comparable gas cars are still the BMW 3 Series Sedan. These gas cars, with an MSRP of $43,800 at a base price are just slightly cheaper than the Model 3 performance. And you don't get over the air updates.

There's tons of features that makes Tesla the worlds safest vehicles. They have 5 star safety ratings from NHTSA, over the air software updates. The ability to upgrade to Tesla FSD - Full Self-Driving, and will get better over time.

It's as good a time as it has ever been to get a Tesla Model 3. Would you get one now?

In Related News: Electric Vehicle Charging Taking Place on Public Roads

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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.

Image Credit, Tesla, Screenshot