Let me say up front that I'm still an EV believer. My experience with the Model Y Performance was bad, but I continue to think EVs are the future and fit plenty of situations, and my next car will probably be electric too.
I bought my Model Y P in early 2023, right after the first round of price cuts. I'd been eyeing an SUV for some time and was also waiting for the post-COVID car market to settle. Tesla was hinting that the tax credit could expire in April, and that pushed me to buy when I did.
Positives first:
1. It's a decent car, though honestly just average, neither good nor bad.
2. It's practical, with plenty of cargo room.
3. It's quick and out-accelerates most traffic, although the pull fades after about 70 mph.
4. Steering and throttle response are both very sharp.
5. As with any EV, it can beat a gas car on running costs, depending on how you charge.
6. The software is excellent, probably the best in the segment, with a well-designed, snappy interface.
7. The charging network is great.
The negatives, sadly, are what made me sell it:
1. Build quality and quality control were awful, even though a 2023 build was supposed to be much better than earlier ones. At delivery I found panels that didn't line up, unpainted spots, and paint damage. The interior was stained, the roof trim was badly fitted with pieces coming loose, and the seats wouldn't fold properly, among other things. I went to service about eight or nine times for interior and paint fixes, and lots of issues were still there afterward. I wasn't alone either: the service center always had a line, mostly of brand new Model Ys.
2. The ride is harsh even though this was supposedly the updated, softer suspension. Mine is the Performance, so it's stiffer than the standard setup, but still. It's tolerable on the road but far from comfortable. I'm used to sport-tuned suspension firmness, and this is unusually rough. It can't soak up small, high-frequency bumps, and the high seating position adds a lot of side-to-side shaking. Rivals such as the Mach-E GT with MagneRide were much better.
3. Interior quality is poor, worse than a $25K Corolla. Toyotas and Subarus above $30K feel nicer, and a $40K Mazda cabin looks like a Maybach beside it. I like minimalism, so that isn't the complaint; the fit, finish, and trim are what's lacking. It was better than the older Model 3s I've driven, which were terrible, but it still disappointed, and rattles develop easily.
4. It does badly on anything but pavement. On a flat gravel road it was miserable: I couldn't pass about 8 mph without violent shaking, while ordinary sedans went faster and with far less discomfort.
5. There's no bumper camera, yet it has needlessly big wheels that restrict tire choices and are easy to scuff on curbs unless you're careful.
6. Depreciation and price cuts are brutal. A car isn't an investment, but hardly anyone drives one until it dies, so resale value matters a lot. Tesla's dynamic pricing and "markups" hurt customers badly. Even if you bought after last year's initial cuts, in the high $50Ks, the base price is now close to $50K, and every few months inventory cars get another $5K or more off. Losing over $20K in year one is huge. I feel bad for those who paid in the high $60Ks with no tax credit. Add higher registration and insurance and it quickly wipes out the savings on electricity and upkeep.
7. Straight-line speed is impressive, but it isn't a sports car. Handling is merely acceptable. A Model 3 can be fun on twisty roads; the Model Y doesn't really match it.
8. Range isn't bad but falls well short of the claimed number and varies with use. It was first advertised at 303 miles, later lowered by Tesla to 285. In practice you get 200 to 250 miles, unless you're crawling around town at 35 mph in warm weather.
9. A lot of features feel half-finished. Ultrasonic sensors were removed to save about $100, with vision-based parking promised in return. About a year later a somewhat working version arrived, but it still has a big blind spot at the front, no full 360-degree view, and is often unavailable or inaccurate.
10. Service was poor. Repeatedly they didn't fix the actual problem, and sometimes they created new ones while fixing others. They seemed overworked.
Advice for prospective buyers:
Should you buy a Model Y today? Honestly, no. At the current base price it isn't worth it; it's cheaply made. It's also an aging design, probably in its last production year, and the refreshed Model 3 appears to fix several major issues, so the next Model Y may be the better bet.
Also, you can't be sure what you're getting. Tesla moved to hairpin motors in late 2022. The hairpin Performance motor is the 4D1, while the older wire-wound ones are 3DX/980/990. Some Performance buyers still got the older 980, while some who paid less for a Long Range got the 4D1. Even this year some Performances shipped with the older, slightly less efficient 980/3D1 motor. I got lucky in this motor lottery, but it's not acceptable. The jump from hardware 3 to 4 was also abrupt and random, with some customers getting the new one and others not. That kind of randomness is infuriating at this price.
If you do want one, think about a used, low-mileage 2022 or newer, which starts at $15,000 or more below the base price. If you want new, wait for ordinary inventory discounts and stack them with the tax credit to limit depreciation. If you don't qualify for the credit, go used and low-mileage again.
Don't rush into financing. Patience pays off. I know people who planned to buy a Model X and were looking at financing the last $20K. They held off, and the price later fell by more than that. They dodged a financial mistake, since borrowing to cover what is basically a large Tesla markup would have been awful. Tesla's price marketing can mislead, so trust only your own research and price history.
Should you buy a new Model Y to save on gas? For most people, no. If you drive close to 20,000 miles a year and keep the car more than six years, maybe. Otherwise, depreciation, registration, and insurance can cancel out the fuel and running-cost savings. A used one with lots of warranty left could be a reasonable alternative, though.
What about living in an apartment? It can work if there's a Supercharger close by or you can charge at work. If electricity is expensive, you might end up Supercharging late at night for the cheaper rate.
Leasing EVs from other brands looks like an interesting option. Several manufacturers have attractive lease deals with big price reductions, and you aren't stuck buying at the end if depreciation is heavy. I tested the Mach-E GT, Ioniq 5, and Volvo C40, and all of them beat the Model Y on build quality and ride comfort. You have options, so test drive them and do your own research.
Hope this helps new buyers. Good luck!
Edit: added more pros and cons and fixed a few typos.
