Top Reasons to Choose the 2024 Tesla Model Y

 Image Name: 2024 Tesla Model Y

Image Credit: Tesla Cover

The Tesla Model Y is a standout in the electric vehicle (EV) market, often seen cruising the streets of the U.S. If you’re exploring the automotive world or expanding your car knowledge, it’s crucial to recognize Tesla’s significant impact on the EV industry. From batteries to charging stations, and technology to design, Tesla’s models showcase unique features and capabilities.

Why Choose the Tesla Model Y?
If you’re in the market for a Tesla that offers more space and an affordable price tag, the Model Y is an excellent choice. Now entering its sixth year, with the highly-anticipated Juniper release in 2025, the older models still hold strong appeal. This blog will guide you through determining the best year for purchasing a Model Y, considering factors like recalls, reliability, and ownership costs.

2024: The Best Year to Buy a Tesla Model Y
If you were hoping that an older Model Y would be the best buy, you might be surprised to find that the 2024 Model Y stands out as the top choice. While you won’t save much money compared to older models, the 2024 version excels in almost every aspect, notably with the fewest recalls.

Minimal Recalls for the 2024 Model Y
All trims and variants of the 2024 Tesla Model Y received a perfect five-star safety rating. With only two recalls, the 2024 Model Y proves to be a reliable option. Recalls might sound alarming, but they often address minor issues. The two recalls for the 2024 model involve a software bug that could cause the hood to open, increasing the risk of a crash, and an incorrect font size on the warning lights. Tesla typically resolves these issues through service appointments, ensuring the vehicle remains safe and reliable.

Learning from Earlier Models
It’s a well-known fact in the automotive world that the first year of a new generation might have some kinks. The Tesla Model Y’s earlier models serve as examples, with the 2020 model receiving 21 recalls and the 2021 model receiving 20. Over the years, Tesla has ironed out these issues, making the 2024 Model Y a less stressful choice with minimal recalls.

Tesla Model Y Trim Options
Tesla simplifies decision-making with three trims for the 2024 Model Y: Long Range Rear-Wheel Drive, Long Range All-Wheel Drive, and Performance All-Wheel Drive. Priced at $44,990 for the base rear-wheel-drive trim, $47,990 for the Long Range All-Wheel Drive, and $51,490 for the Performance version, these prices can be reduced further for those who qualify for the $7,500 Federal Tax Credit and five-year gas savings of $6,000.

Innovative Technology and Design
When it comes to innovation, Tesla leads the charge. The Model Y’s sleek design not only looks good but also optimizes aerodynamics. Inside, the Model Y boasts advanced driver aids and a state-of-the-art infotainment system. Tesla continuously pushes the boundaries of automotive technology, making the Model Y a prime example of futuristic design and innovation.

Image Name: The Classic Tesla Y

Efficiency and Performance
No discussion about Tesla is complete without mentioning fuel efficiency. The Model Y’s range varies by year and trim, with the 2024 Long Range trim offering 310 miles, slightly less than the 330 miles provided by the 2022 and 2023 models. The Performance trim, with its added horsepower, offers around 300 miles of range, making it a close contender.

J.D. Power Ratings
J.D. Power’s assessment of the 2024 Model Y gives it an overall rating of 76 out of 100. This score includes a reliability rating of 69, a driving experience score of 81, and a resale projection of 85. These ratings highlight the 2024 Model Y’s strong performance in critical areas, reinforcing its status as the best year to buy.

Ownership Costs
Considering ownership costs is essential when purchasing a new car. The 2024 Tesla Model Y is projected to cost $30,001 in out-of-pocket expenses over five years. This includes maintenance costs of $3,115, repair costs of $2,510, and insurance costs of $18,180. While $30,001 might seem manageable, the total five-year cost of owning a 2024 Model Y doubles to $60,349.

Depreciation
The Tesla Model Y, like most EVs, depreciates significantly over time. With a starting price of around $44,000, its value drops to $30,348 after just one year and further plummets to $14,282 after five years. Despite this, many Tesla owners overlook depreciation, focusing instead on the benefits of driving a cutting-edge EV.

Conclusion
The Tesla Model Y remains a sought-after model, with the 2024 version standing out as a solid candidate. While it may not excel in every area compared to older models, it boasts the latest technology, design, and batteries. If the 2024 model is out of reach, each Model Y year has its strengths, ensuring there’s a suitable option for everyone.

In summary, the 2024 Tesla Model Y is the best year to buy, offering minimal recalls, advanced technology, and a strong overall performance. With its innovative design, impressive efficiency, and manageable ownership costs, the 2024 Model Y is a top choice for those seeking a reliable and cutting-edge electric vehicle.