The Best Year For The Tesla Model Y

The Tesla Model Y is part of a well-known electric vehicle (EV) lineup, and you will most likely see someone driving one beside you in the U.S. If you’re new to the automotive world or just broadening your portfolio over car trivia, it should be known that Tesla plays a significant role within the electric automotive industry. Whether it’s batteries, charging stations, technology, or design, the list could go on, and the handful of models that the American car brand puts out demonstrate unique features and capabilities.

If you’re in the market for a Tesla which offers more space with an affordable price tag, then the Model Y is a great choice. The Model Y is entering its sixth year, with the highly-anticipated Juniper releasing in 2025. If you don’t like waiting, then the older models will easily suffice. Rather than looking at all the models and looking over every detail, you’ll learn which year the Model Y is worth purchasing. Several factors determine the best year, such as recalls, reliability, and ownership costs.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from Tesla and other authoritative sources, including J.D. Power, FuelEconomy.gov, and NHSTA.

The 2024 Tesla Model Y Is The Best Year To Buy

If you were hoping that one of the older years was the best year to buy, you might be let down when you hear that the 2024 Model Y takes the reigns. While you won’t be saving money over the others since the 2024 model is currently the newest model you can buy, the plus side is it does almost everything better than its older counterparts, such as least recalls.

Only Two Recalls Popped Up On The 2024 Model Y

All the 2024 Tesla Model Y trims and variants received an overall safety rating of five out of five stars. Regarding recalls, the 2024 Model Y is by far the best choice of the year with its two recalls. Recalls inside and outside the car world sound bad, but it doesn’t always mean it’s the end of the world or the model is unreliable. The 2024 Model Y is a prime example of this, with its two recalls being minor compared to others. These two recalls consist of a software bug where the hood could open, increasing the risk of a crash and an incorrect font size on the warning lights. The first recall might sound bad, but most manufacturers find ways to fix it by calling in owners to receive a car service to eliminate the threat.

The Earlier Models Were The Guinea Pigs

It’s known within the car world that buying the first year of a new generation isn’t always the best decision. This is because manufacturers are still ironing out the kinks, and your best bet is to buy some of the newer models. Of course, if you wait too long, you’re left with one of the new models right before a new generation emerges. The Tesla Model Y provides another good example, which shows the 2020 model receiving 21 recalls and the following year receiving 20. While it took Tesla a couple of years to fix these issues, the 2024 Model Y seems to be the less stressful year with minimal recalls.

Tesla Offers The Model Y In Three Trims

Tesla makes decision-making pretty easy when ordering or picking up one of its models. The 2024 Model Y, for instance, comes in three trims: Long Range Rear-Wheel Drive, Long Range All-Wheel Drive, and Performance All-Wheel Drive. You’d most likely be right if you had to bet on what each trim offers. Tesla offers the base rear-wheel-drive trim at $44,990, the Long-Range All-Wheel Drive at $47,990, and the Performance at $51,490. These prices can even be lower for some who qualify for the $7,500 Federal Tax Credit and five-year gas savings of $6,000.

Both Tesla And The Model Y Showcase Innovative Technology And Design

When you think of innovation within the automotive world, many people’s minds go to electrified vehicles. There are several reasons for this, but the main takeaways are the futuristic designs and inventive technology. Tesla is one of the companies that is constantly pushing towards the future when it comes to design and technology. The Model Y attests to this through its simple but sleek contours.

The Model Y’s design isn’t just for looks but also optimizes its aerodynamics. Regarding its technology, the Model Y comes with abundant driver aids and convenient tech within the infotainment system. While the Model Y already showcases some impressive technology, it was only a matter of time until Tesla started implementing rocket science in one of its models.

The Electric Midsize SUV That Demonstrates Class-Leading Efficiency

There wouldn’t be a discussion over a Tesla if its fuel efficiency wasn’t brought up. While things can be repetitive within the automotive world, an EV’s range will always be a point to discuss. The Model Y’s range fluctuates, given the year of the model. If you were to compare each year on the Long Range trim, you would see that the 2024 model provides the lowest range, which comes out at 310 miles. Meanwhile, the previous two years, 2022 and 2023, offered 330 miles. If you’re keen on the added horsepower, the Performance trim doesn’t stray too far from its Long Range counterpart, with most years sitting around 300 miles of range.

Tesla Model Y Range And MPGe

J.D. Power Gave The Model Y An Overall Rating Of 76 Out Of 100

So, what decides which year is the best for a particular model? There isn’t really a correct answer; instead, there are various things to note that could persuade you that it is the best year. If you’re aiming for recalls, which in this case is the basis of which year succeeds over each other, then you’d want to go with the 2024 Model Y. If you want to see the 2024 Model Y in a bigger picture, then take J.D. Power’s analysis of it. The 2024 Model Y received an overall score of 76 out of 100, which branches off into a couple of categories. One area included its reliability, which scored 69 out of 100. The other two were the driving experience, 81 out of 100, and the resale projection, 85 out of 100.

You Can Expect High Ownership Costs

Another area that doesn’t hurt to look at when you’re in the market for a car is its ownership costs. Before breaking it down, the 2024 Tesla Model Y is projected to cost you $30,001 in out-of-pocket expenses after five years. These expenses include several areas, such as maintenance which will cost you $3,115, and repairs which cost $2,510 after five years. Insurance runs high as well, with it being projected to cost owners $18,180. Some might think $30,001 after five years is doable, but the five-year cost to own a 2024 Tesla Model Y doubles and will cost you $60,349.

The Model Y Is Prone To Depreciate Over Time

The Tesla Model Y is prone to losing its car value over time, but there’s a catch. Generally, most EVs depreciate higher than traditional internal combustion engine cars (ICE), but that’s another topic of discussion. You’ll see a drastic loss in the first year of owning the Model Y. With a price tag of around $44,000, just after one year, the value of your car now sits at $30,348. After five years, it gets even worse, with projections going as low as $14,282. So, yes, the Tesla Model Y is prone to depreciation, but from the looks of it, most Tesla owners look past this issue.

The Tesla Model Y is a well-sought-after model on the market, and the 2024 model looks to be a solid candidate. Another area worth mentioning is that even though it doesn’t excel in the regions that the older models do, it does come with the most up-to-date tech, design, and batteries. If you can’t swing the 2024 model, the other good news is that each model seems to prosper in one area compared to its other years. Basically, not one year is perfect or shines over the rest.