Everything you need to know about Tesla's new self-driving system

All of Tesla’s cars going forward will be equipped with the hardware that makes full autonomy possible.

This includes eight cameras, 12 ultrasonic sonar sensors, a forward facing radar, and a new onboard computer that provides 40 times the computing power of the previous generation of Autopilot.

The cameras along with the radar and other sensors give the vehicle 360 degrees of visibility around the car at up to 250 meters of range.

However, the hardware in use will depend on the system you decide to purchase.

Enhanced Autopilot uses four of the eight cameras to operate, while the full self-driving system takes advantage of all eight cameras.

It sounds like the whole process of using the fully autonomous system will be pretty easy.

According to Tesla's website, you can simply get in the vehicle, say where you want to go, then the car will calculate the best route and drive you to your destination.

If you do not say a destination, the car will look at your calendar and automatically drive you to the destination listed. If nothing is on the calendar, the car will take you home, the company states on its website.

"Your Tesla will figure out the optimal route, navigate urban streets (even without lane markings), manage complex intersections with traffic lights, stop signs and roundabouts, and handle densely packed freeways with cars moving at high speed," the company said.

"When you arrive at your destination, simply step out at the entrance and your car will enter park seek mode, automatically search for a spot and park itself. A tap on your phone summons it back to you."

You can learn more about how the system will work here.

Enhanced Autopilot costs $5,000 and the fully self-driving system prices at $8,000 at the time of purchase.

You can choose to turn on Enhanced Autopilot or the full self-driving capabilities after purchase, but it will cost you $6,000 and $10,000 respectively.

All Tesla vehicles currently in production include the new hardware that enables full autonomy. However, if you buy a Tesla today, that doesn’t mean you can just hand over complete control to you car.

Enhanced Autopilot functions are expected to roll out in December, according to Tesla’s website.

If you opt for Tesla’s fully autonomous system, you will also begin to get the same features included in Enhanced Autopilot in December. But it is still unclear when your car will become completely autonomous.

“Self-driving functionality is dependent upon extensive software validation and regulatory approval, which may vary widely by jurisdiction,” Tesla states on its website.

So basically, you'll be waiting before your car is driving you around autonomously.

Tesla owners will be able to make money off their self-driving cars, but only on Tesla's upcoming car-sharing service.

Earlier this year, Musk said that Tesla would launch a mobility ride-hailing service when its autonomous cars were ready. Tesla owners will be able to add their autonomous vehicle to the Tesla Network when they are not using their car.

People will be able to hail a Tesla ride via an app and the car will autonomously pick them up and take them to their destination. When the owner needs the car back, they will simply request the car to return via the app.

On Thursday, though, Tesla added a statement to its website that states owners will only be able to use their vehicle on Tesla's network to make money. So presumably, you won't be able to use your self-driving Tesla on other ride-hailing platforms like Uber or Lyft. But Tesla said it will release more details about how the service will work next year.

It doesn't look like it.

During a press call Thursday evening, Musk was asked if Tesla would take a similar stance as Volvo and take legal responsibility for an accident that occurs in its cars while driving in autonomous mode.

Musk said that Tesla would not unless the accident stemmed from a design related problem.

"No, I think that would be up to the individual's insurance," Musk said. "If it is something endemic to our design, certainly we would take our responsibility for that."