Chevrolet Equinox EV vs Tesla Model Y
Choosing between the Chevrolet Equinox EV and the Tesla Model Y is really a question of total cost, not sticker price. Below we compare both over five years — depreciation, energy, insurance and maintenance — then let you run your own mileage.
Key assumptions for this page
Sources: Kelley Blue Book — figures are estimates last reviewed 2026; verify before purchase.
Chevrolet Equinox EV vs Tesla Model Y: run the numbers
Cheaper to own over 5 years
Chevrolet Equinox EV
by $7,993 — Chevrolet Equinox EV: $42,371 · Tesla Model Y: $50,364
Lower 5-year total cost
🏆 Chevrolet Equinox EV
Lower energy cost
🏆 Tesla Model Y
Lower depreciation
🏆 Chevrolet Equinox EV
Lower insurance estimate
🏆 Chevrolet Equinox EV
Lower cost per mile
🏆 Chevrolet Equinox EV
Baseline 5-year cost breakdown
MSRP + EPA efficiency · USD| Cost | Chevrolet Equinox EV | Tesla Model Y |
|---|---|---|
| Depreciation | $23,528 | $29,569 |
| Energy / fuel | $2,743 | $2,595 |
| Insurance | $12,075 | $13,650 |
| Maintenance | $4,025 | $4,550 |
| 5-year total | $42,371 | $50,364 |
| Cost per mile | $0.71 | $0.84 |
Customize your scenario
The baseline uses each car's MSRP, EPA-rated efficiency and segment-typical depreciation. Change the assumptions below to match how you actually drive — your result may differ from the baseline.
5-year cost by annual mileage
| Miles / year | Chevrolet Equinox EV | Tesla Model Y | Cheaper |
|---|---|---|---|
| 8,000 mi | $41,456 | $49,499 | Equinox EV |
| 12,000 mi· now | $42,371 | $50,364 | Equinox EV |
| 15,000 mi | $43,056 | $51,012 | Equinox EV |
| 20,000 mi | $44,199 | $52,093 | Equinox EV |
| 30,000 mi | $46,485 | $54,255 | Equinox EV |
Estimates only, not quotes. Depreciation, insurance and maintenance use segment-typical assumptions; insurance is modeled from each model's risk factor against a national average, not a quote. Verify with dealers and insurers before deciding.
Good to know
Specific, useful answers for this page.
Is the Chevrolet Equinox EV or the Tesla Model Y cheaper to own?＋
Over five years, total ownership cost comes down to depreciation, energy, insurance and maintenance. The breakdown above totals both side by side so you can see the real gap, not just the sticker difference.
What's the biggest cost difference between them?＋
Usually depreciation and insurance dominate. The Equinox EV depreciates faster, while insurance tracks each car's risk factor (Equinox EV: 1.15×, Model Y: 1.30×).
Does the price gap between the Equinox EV and Model Y matter long term?＋
The Model Y costs about $12k more upfront, and since depreciation is a percentage of price, the costlier car usually loses more dollars too. With similar drivetrains, fuel and maintenance land close, leaving depreciation and insurance as the deciders.