Tesla Model 3 Premium RWD vs Toyota Camry Hybrid LE: 5-year cost to own in Michigan

Q: Is the Tesla Model 3 Premium RWD or the Toyota Camry Hybrid LE cheaper to own over 5 years in Michigan?

The Toyota Camry Hybrid LE stays the cheaper car to own — about $37,966 vs $56,056 for the Tesla Model 3 Premium RWD, a $18,090 difference over 5 years.

Q: How much more does the Tesla Model 3 Premium RWD cost to buy than the Toyota Camry Hybrid LE?

The Tesla Model 3 Premium RWD starts at $42,490 — $13,490 more than the Toyota Camry Hybrid LE ($29,000). Over 5 years the ownership gap is $18,090 in favor of the Toyota Camry Hybrid LE.

Q: Which costs less per mile — the Tesla Model 3 Premium RWD or the Toyota Camry Hybrid LE?

The Toyota Camry Hybrid LE: $0.63 vs $0.93 per mile all-in ($633 vs $934 per month) in Michigan.

By the EVCostIQ research desk · reviewed against our public methodology · every source dated on this page

As of July 1, 2026, over 5 years in Michigan, the Toyota Camry Hybrid LE stays the cheaper car to own — about $37,966 vs $56,056 for the Tesla Model 3 Premium RWD, a $18,090 difference over 5 years. Michigan's electricity (21.4¢/kWh, 14% above the U.S. average) and $4.08/gal gas are fed straight into both totals. The expired federal $7,500 EV credit is not applied to either total.

Cheaper to own over 5 years · MichiganToyota Camry Hybrid LE · $37,966 total · $18,090 less than the Tesla Model 3 Premium RWD

Tesla Model 3 Premium RWD vs Toyota Camry Hybrid LE — where the money goes

5-year total cost of ownership by component, by vehicle (USD). Estimates; sources dated in the methodology.
Cost component	Electric · Tesla Model 3 Premium	Hybrid · Toyota Camry Hybrid LE
Depreciation (estimated)	$24,644 (44%)	$11,310 (30%)
Charging / fuel	$4,740 (8%)	$5,206 (14%)
↳ of which charging loss	12% (~$569)	—
Maintenance	$3,660 (7%)	$4,560 (12%)
Insurance	$13,750 (25%)	$11,500 (30%)
Financing interest	$7,427 (13%)	$4,890 (13%)
Registration & fees	$1,835 (3%)	$500 (1%)
Total cost of ownership	$56,056	$37,966

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 Tesla Model 3 Premium RWD win?

Even at 30,000+ mi/yr or a 15-year hold, the Toyota Camry Hybrid LE stays cheaper here — its lower price and slower depreciation dominate. The Tesla Model 3 Premium RWD is the pick mainly for reasons beyond 5-year cost (performance, emissions, HOV access, home-charging convenience).

Tesla Model 3 Premium RWD vs Toyota Camry Hybrid LE, side by side

Electric

Tesla Model 3 Premium RWD

5-yr total cost: $56,056
Cost / month: $934
Cost / mile: $0.93
MSRP: $42,490
Powertrain: Electric
Efficiency: 25 kWh/100mi

Hybrid Lower 5-yr cost

Toyota Camry Hybrid LE

5-yr total cost: $37,966
Cost / month: $633
Cost / mile: $0.63
MSRP: $29,000
Powertrain: Hybrid
Efficiency: 47 mpg

Michigan electricity: 21.4¢/kWh EIA
Gas price (Michigan): $4.08/gal AAA

Change the miles, your state & either car

Full cost breakdowns

← Tesla Model 3 Premium RWD vs Toyota Camry Hybrid LE (U.S. average)

FAQ

Is the Tesla Model 3 Premium RWD or the Toyota Camry Hybrid LE cheaper to own over 5 years in Michigan?

The Toyota Camry Hybrid LE stays the cheaper car to own — about $37,966 vs $56,056 for the Tesla Model 3 Premium RWD, a $18,090 difference over 5 years.

When does the Tesla Model 3 Premium RWD become cheaper than the Toyota Camry Hybrid LE?

How much more does the Tesla Model 3 Premium RWD cost to buy than the Toyota Camry Hybrid LE?

The Tesla Model 3 Premium RWD starts at $42,490 — $13,490 more than the Toyota Camry Hybrid LE ($29,000). Over 5 years the ownership gap is $18,090 in favor of the Toyota Camry Hybrid LE.

Which costs less per mile — the Tesla Model 3 Premium RWD or the Toyota Camry Hybrid LE?

The Toyota Camry Hybrid LE: $0.63 vs $0.93 per mile all-in ($633 vs $934 per month) in Michigan.