Hyundai IONIQ 5 vs Tesla Model Y: cost to own

Verdict, over 6 years

The Tesla Model Y costs about $13,087 less

That's $182 a month. Closest matching trims: same fuel and drive where possible.

IONIQ 5 Preferred Long Range$1,400/moTrue cost

Model Y Rear-Wheel Drive✓ $1,219/moTrue cost

2026 Hyundai IONIQ 5

Closest matching trim: IONIQ 5 Preferred Long Range

Sticker (MSRP)$55,499

+$10,656→↓Freight, fees, HST

Drive away$66,155

+ running costs→↓− $19,191 resale

True cost$1,400/moA month to own, after resale

2026 Tesla Model Y

Closest matching trim: Model Y Rear-Wheel Drive

Sticker (MSRP)$49,990

+$4,771→↓Freight, fees, HST

Drive away$54,761

+ running costs→↓− $17,016 resale

True cost$1,219/moA month to own, after resale

Line by line


Price
Sticker (MSRP)	$55,499	✓ $49,990	Model Y by $5,509
Freight and fees, before tax	$3,045	✓ $2,896	Model Y by $149
Sales tax (HST)	$7,611	✓ $6,875	Model Y by $736
EV rebate	—	−$5,000	—
Drive-away price	$66,155	✓ $54,761	Model Y by $11,394
Running costs, 6 years
Fuel or charging	$2,842	✓ $2,590	Model Y by $252
Insurance (estimate)	✓ $19,005	$19,862	IONIQ 5 by $857
Maintenance (estimate)	✓ $5,562	$5,682	IONIQ 5 by $120
Loan rate	6.5%	6.5%	—
Loan interest	$12,862	✓ $10,466	Model Y by $2,396
Lost return on your money	$13,499	✓ $11,301	Model Y by $2,198
Resale after 6 yrs	✓ −$19,191	−$17,016	IONIQ 5 by $2,175
Total
True cost	$100,824	✓ $87,737	Model Y by $13,087
True cost a month	$1,400/mo	✓ $1,219/mo	Model Y by $181
You pay each month	$1,410/mo	✓ $1,228/mo	Model Y by $182
Practical
Fuel type	Electric	Electric	—
Seats	5	5	—
Carry-ons, 2 people	6	Not published	—
Towing, lb	2,700	—	—
Fast charge, minutes	18 (10-80%)	—	—
Cargo behind row 2, litres	745	Not published	—
Range, km (winter about 70%)	✓ 504 (353)	463 (324)	—
Length	4.66 m	—	—
Ground clearance	16 cm	—	—
Resale % after 6 yrs	✓ 35%	34%	—
US crash test	Not rated yet	✓ 5★	—
European crash test	5★ (2021)	✓ 5★ (2025)	—

Price

Sticker (MSRP)

IONIQ 5 Preferred Long Range $55,499Model Y Rear-Wheel Drive ✓ $49,990Cheaper by Model Y by $5,509

Freight and fees, before tax

IONIQ 5 Preferred Long Range $3,045Model Y Rear-Wheel Drive ✓ $2,896Cheaper by Model Y by $149

Sales tax (HST)

IONIQ 5 Preferred Long Range $7,611Model Y Rear-Wheel Drive ✓ $6,875Cheaper by Model Y by $736

EV rebate

IONIQ 5 Preferred Long Range —Model Y Rear-Wheel Drive −$5,000Cheaper by —

Drive-away price

IONIQ 5 Preferred Long Range $66,155Model Y Rear-Wheel Drive ✓ $54,761Cheaper by Model Y by $11,394

Running costs, 6 years

Fuel or charging

IONIQ 5 Preferred Long Range $2,842Model Y Rear-Wheel Drive ✓ $2,590Cheaper by Model Y by $252

Insurance (estimate)

IONIQ 5 Preferred Long Range ✓ $19,005Model Y Rear-Wheel Drive $19,862Cheaper by IONIQ 5 by $857

Maintenance (estimate)

IONIQ 5 Preferred Long Range ✓ $5,562Model Y Rear-Wheel Drive $5,682Cheaper by IONIQ 5 by $120

Loan rate

IONIQ 5 Preferred Long Range 6.5%Model Y Rear-Wheel Drive 6.5%Cheaper by —

Loan interest

IONIQ 5 Preferred Long Range $12,862Model Y Rear-Wheel Drive ✓ $10,466Cheaper by Model Y by $2,396

Lost return on your money

IONIQ 5 Preferred Long Range $13,499Model Y Rear-Wheel Drive ✓ $11,301Cheaper by Model Y by $2,198

Resale after 6 yrs

IONIQ 5 Preferred Long Range ✓ −$19,191Model Y Rear-Wheel Drive −$17,016Cheaper by IONIQ 5 by $2,175

Total

True cost

IONIQ 5 Preferred Long Range $100,824Model Y Rear-Wheel Drive ✓ $87,737Cheaper by Model Y by $13,087

True cost a month

IONIQ 5 Preferred Long Range $1,400/moModel Y Rear-Wheel Drive ✓ $1,219/moCheaper by Model Y by $181

You pay each month

IONIQ 5 Preferred Long Range $1,410/moModel Y Rear-Wheel Drive ✓ $1,228/moCheaper by Model Y by $182

Practical

Fuel type

IONIQ 5 Preferred Long Range ElectricModel Y Rear-Wheel Drive ElectricCheaper by —

Seats

IONIQ 5 Preferred Long Range 5Model Y Rear-Wheel Drive 5Cheaper by —

Carry-ons, 2 people

IONIQ 5 Preferred Long Range 6Model Y Rear-Wheel Drive Not publishedCheaper by —

Towing, lb

IONIQ 5 Preferred Long Range 2,700Model Y Rear-Wheel Drive —Cheaper by —

Fast charge, minutes

IONIQ 5 Preferred Long Range 18 (10-80%)Model Y Rear-Wheel Drive —Cheaper by —

Cargo behind row 2, litres

IONIQ 5 Preferred Long Range 745Model Y Rear-Wheel Drive Not publishedCheaper by —

Range, km (winter about 70%)

IONIQ 5 Preferred Long Range ✓ 504 (353)Model Y Rear-Wheel Drive 463 (324)Cheaper by —

Length

IONIQ 5 Preferred Long Range 4.66 mModel Y Rear-Wheel Drive —Cheaper by —

Ground clearance

IONIQ 5 Preferred Long Range 16 cmModel Y Rear-Wheel Drive —Cheaper by —

Resale % after 6 yrs

IONIQ 5 Preferred Long Range ✓ 35%Model Y Rear-Wheel Drive 34%Cheaper by —

US crash test

IONIQ 5 Preferred Long Range Not rated yetModel Y Rear-Wheel Drive ✓ 5★Cheaper by —

European crash test

IONIQ 5 Preferred Long Range 5★ (2021)Model Y Rear-Wheel Drive ✓ 5★ (2025)Cheaper by —

✓ marks the better figure. Resale is from used prices: the IONIQ 5 typical for its type and brand, the Model Y from its own. Their stickers differ by $5,509.