Hyundai Ioniq 5 SE vs Tesla Model Y RWD: 5-year cost to own in the U.S.
As of August 6, 2026, over 5 years (U.S. average, 12,000 mi/yr), the Hyundai Ioniq 5 SE is cheaper from day one — about $48,955 over 5 years vs $57,428 for the Tesla Model Y RWD, a $8,473 difference. The expired federal $7,500 EV credit is not applied to either total.
Cheaper to own over 5 yearsHyundai Ioniq 5 SE · $48,955 total · $8,473 less than the Tesla Model Y RWD
Hyundai Ioniq 5 SE vs Tesla Model Y RWD — where the money goes
| Cost component | Electric · Hyundai Ioniq 5 SE | Electric · Tesla Model Y RWD |
|---|---|---|
| Depreciation (estimated) | $19,950 (41%) | $26,544 (46%) |
| Charging / fuel | $4,576 (9%) | $4,576 (8%) |
| ↳ of which charging loss | 12% (~$549) | 12% (~$549) |
| Maintenance | $3,660 (7%) | $3,660 (6%) |
| Insurance | $13,750 (28%) | $13,750 (24%) |
| Financing interest | $6,018 (12%) | $7,897 (14%) |
| Registration & fees | $1,000 (2%) | $1,000 (2%) |
| Total cost of ownership | $48,955 | $57,428 |
The charging-loss row is the ~10–15% of electricity lost to AC charging that you pay for but never reaches the battery — we include it; most calculators don't.
When does the Hyundai Ioniq 5 SE win?
At 12,000 mi/yr the Hyundai Ioniq 5 SE is already the cheaper car — drive more or keep it longer and its lead only grows.
Over 5 years the Hyundai Ioniq 5 SE undercuts the Tesla Model Y RWD by $8,473 — about 15% of the Tesla Model Y RWD's total. That margin is a verdict, not a rounding artifact.
What decides the Hyundai Ioniq 5 SE vs Tesla Model Y RWD verdict
The single biggest mover is depreciation: $19,950 on the Hyundai Ioniq 5 SE against $26,544 on the Tesla Model Y RWD, a $6,594 gap in the Hyundai Ioniq 5 SE's favor — the largest slice of the $8,473 verdict. On the Hyundai Ioniq 5 SE, depreciation alone is 41% of its $48,955 total; on the Tesla Model Y RWD it is 46% of $57,428.
- Financing interest: Hyundai Ioniq 5 SE $6,018, Tesla Model Y RWD $7,897 — $1,879 more in the Hyundai Ioniq 5 SE's favor.
Not one major line falls the Tesla Model Y RWD's way — every row of the table above the $115 noise floor lands in the Hyundai Ioniq 5 SE's favor. At the dealer the Tesla Model Y RWD starts $9,990 behind the Hyundai Ioniq 5 SE; running costs claw back $1,517 of that, but the Hyundai Ioniq 5 SE still ends $8,473 ahead. The Hyundai Ioniq 5 SE is ahead from the first year — $3,306 after year 1 — and finishes year 5 with the full $8,473 lead; the cumulative lines never cross.
Hyundai Ioniq 5 SE vs Tesla Model Y RWD, side by side
Hyundai Ioniq 5 SE
- 5-yr total cost
- $48,955
- Cost / month
- $816
- Cost / mile
- $0.82
- MSRP
- $35,000
- Powertrain
- Electric
- Efficiency
- 28 kWh/100mi
Tesla Model Y RWD
- 5-yr total cost
- $57,428
- Cost / month
- $957
- Cost / mile
- $0.96
- MSRP
- $44,990
- Powertrain
- Electric
- Efficiency
- 28 kWh/100mi
- Electricity (US avg)
- 18.4¢/kWh EIA
- Gas price (US avg)
- $3.85/gal AAA
Full cost breakdowns
Hyundai Ioniq 5 SE vs Tesla Model Y RWD by state
No state's electricity or gas prices flip this verdict at default assumptions — the Hyundai Ioniq 5 SE is the cheaper car in all 51 states we track.