Upcoming Tesla models and costs There are more Tesla models on the way, but details, as of early 2024, are scant. What we do know is that a new version of the Tesla Roadster is on the way -- the Roadster actually being the original Tesla model and one that is fairly rare to see on the roads these days. Beyond that, there are a couple of other models in the works. Following the Roadster, Tesla is working on what some are calling the Model 2, though it hasn't been officially named as of yet. "It's a new entry-level EV," Kim said, and is expected to launch in 2025. What's most notable about the Model 2 is that it'll be relatively inexpensive, opening up the EV market to consumers with tighter budgets. "This one really does have the potential to do some serious things in the marketplace because it'll be under the $30,000 price point and intended to be a true, mainstream market play," Kim said, adding that it "has the potential to kick EV adoption up almost single-handedly." Further, there's also a rumored "autonomous taxi" in the works that Kim said will use the Model 2 as a basis. There's little about that taxi known, however, as well. Costs for upgrades and customizations Depending on the specific model you choose, there will be a series of corresponding upgrades that Tesla owners can make to their vehicles. Tesla owners can actually make upgrade purchases through the Tesla app on their phone, and the upgrades can be implemented over the air, similar to a software download. Again, the available upgrades will vary depending on the specific model, but an example could be the infotainment system upgrade, which owners can purchase for $2,250 (plus tax) to enable the Tesla arcade and video streaming. Autopilot options are another potential upgrade. There are also numerous customization options in terms of accessories -- Tesla sells numerous accessories for each model, as do third parties. Cybertruck owners, for instance, can choose different paint film colors (for around $6,000), all-weather interior liners ($295) and more. Accessories can get pretty expensive too -- the Model S Plaid Track Package, for example, unlocks the car's top speed of 200 miles per hour and comes with new wheels and braking capabilities for a price of around $20,000. Overall, upgrades and vehicle customizations can add significant cost to the base model of a Tesla, which is something owners will want to keep in mind. Additional Tesla EV costs to consider Like any vehicle, Teslas need to be serviced and maintained. Although since Teslas are EVs, there's no need to change their oil -- but there are tires that need to be rotated and other things that need to be checked and maintained. Some estimates peg annual Tesla maintenance costs at more than $800 per year. Owners will also need to keep charging costs top of mind. While EVs should be much cheaper than gasoline cars to "fuel," electricity isn't necessarily free. Some Tesla owners may need to get a charger installed at their homes, which can cost thousands of dollars, while others can tap into Tesla's Supercharger network, which is also not free but far less costly than gasoline. What tax incentives and credits are available for a Tesla purchase? There may be tax incentives and credits available to purchase certain Tesla models. The Model 3, Model Y and Model X qualify and can knock the price tag down a bit. As of the beginning of 2024, the Clean Vehicle Tax Credit, which offers EV buyers up to $7,500 for purchasing an EV, can now act like an instant rebate or coupon -- meaning that it could, effectively, knock thousands of dollars off the purchase price of an EV at a dealership. Note, however, that there may be price caps on the tax credit's eligibility, so not all Tesla models will qualify, and the buyers' income needs to fall below a certain threshold. For prospective Tesla buyers, it may also be worth seeing if there are additional credits or incentives in your local area. How to finance a Tesla EV There are also options to finance Tesla models. Financing can be done through Tesla directly (for qualified buyers) or a third party, with terms ranging between 36 and 84 months. You can also lease most Tesla models (the Cybertruck being the exception). Leasing a Tesla is available in most states, and in order to enact a lease, the lessee would place an order for a Tesla model as they would if they were buying it, then submit a lease application through their Tesla account. Tesla will confirm everything after that, including the amount due at signing, monthly payments, terms, annual mileage limits and more. Barring any problems, a financing offer will hit your Tesla account, and a Tesla Advisor will get in touch to confirm the next steps. Payments can be made directly through a Tesla account too. Tesla FAQs