There are plenty of benefits to owning a fully electric vehicle (EV) like a Tesla. Driving one not only can cut down on your carbon footprint but also could save you money in gas. That’s because the cost of charging an EV is generally cheaper than what it takes to fill up at the pump.
If you’re in the market for either a Tesla or a Toyota RAV4, you may be wondering which one is more cost-effective. While an EV might seem like a clear winner at first, there are other costs to consider.
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Here’s what it typically costs to charge a Tesla versus filling up a Toyota RAV4 each month, as well as a few other key figures.
Also see the states where it costs the most to charge a Tesla.
Tesla: Typical Charging Costs
Reaching a full charge on a Tesla could cost you $10.95 to $17.99, according to EnergySage (which uses the Energy Information Administration’s average national cost of electricity). The exact cost depends on which model you have.
A full charge typically costs the following:
- Tesla Model 3: $10.95
- Tesla Model Y: $14.39
- Tesla Model S: $17.83
- Tesla Model X: $17.99.
On average, electricity costs $0.1564 per kilowatt-hour (kWh). When you break it down, you’re looking at spending around $0.0456 per mile.
Keep in mind that what you’ll actually spend to charge your EV depends on which model you have and how much you drive. For example, the Tesla Model Y Long-Range RWD can run around 357 miles on full charge. The Model 3 Long Range RWD, meanwhile, gets about 363 miles.
According to the Federal Highway Administration, people drive an average of 13,476 miles annually. That’s approximately 1,123 miles per month. This means the average Tesla driver would need to fully charge their vehicle about thrice monthly, which would cost between $33 and $54 based on the above averages.
It’s worth noting that a small percentage — around 6% to 10% — of energy is lost during charging, per NRG Clean Power. This means you may need a little more energy to fully charge your vehicle. You may also want to keep your vehicle plugged in during long stints of non-use, which can add a little extra to charging costs.
Check Out: Here’s What It Costs To Charge a Tesla Monthly vs. Using Gas for a Honda Civic
Toyota RAV4: Typical Gasoline Costs
As per recent Edmunds data, the 2024 Toyota RAV4 XLE costs an average of $126 to fill up each month. This is a little less than a typical SUV, which will run you closer to $174 monthly.
These figures are based on driving 55% in the city and 45% on the highway. If you were to drive solely on the highway — as in the case of long-distance commutes — it’d cost closer to $113 a month to fill up. City drivers can expect to spend around $138 monthly at the pump.
Keep in mind that there is a hybrid option, which might cost less. For example, the Toyota RAV4 Hybrid costs about $94 monthly in fuel (55% city, 45% highway), per Edmunds.
Tesla vs. Toyota RAV4: Side-by-Side Comparison
Looking for a baseline comparison of a Tesla vs. a Toyota RAV4 (non-hybrid SUV)? Here’s what you can expect in fuel and charging costs, per FuelEconomy.gov:
- 2024 Tesla Model S: This EV gets an estimated 122 MPGe (combined) and has 402 miles of total range. It costs about $600 annually (or $50 monthly) to charge. That’s an estimated $5,500 in annual fuel savings over five years compared with similar vehicles.
- 2024 Tesla Model X: This model gets an estimated 100 MPGe (combined) and has 335 miles of total range. It costs an estimated $750 annually to charge.
- 2024 Toyota RAV4: With this vehicle, you get a combined mpg of 30 (27 city, 35 highway). It costs about $1,600 a year at the tank, which is still around $500 less than similar new SUVs.
Here are some other costs to consider when choosing between a Tesla and a Toyota RAV4.
- Starting price: A 2025 Tesla Model 3 starts at around $44,130, per Car and Driver, while the site reported that a Toyota RAV4 has a starting MSRP of $31,000 (depending on where you live and upgrades).
- Charging station and installation: With an EV, you might want to get an at-home charging station, which can cost $300 to $650 (installation not included), per Tesla’s website.
- Tax credits or incentives: Owning an EV might qualify you for certain tax breaks, which could help offset initial costs.
- Other costs: Insurance, depreciation and maintenance also affect your overall costs.
According to Melanie Musson, auto industry expert at AutoInsurance.org, a RAV4 is more cost-effective than a Tesla. Why?
“Insurance for EVs tends to be more expensive than coverage for ICE vehicles because EVs often cost more to repair,” Musson said. “There’s a lot of technology in EVs, and especially in Tesla. Those technological features, like sensors and cameras, can be damaged in an accident.”
Musson also noted that some Tesla models can depreciate by up to 60% in the first five years. A Toyota RAV4 depreciates at a slower rate of around 30%.
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This article originally appeared on GOBankingRates.com: Here’s What It Costs To Charge a Tesla Monthly vs. Using Gas for a Toyota RAV4
