You could be driving a brand-new Model 3 for around $22,000 if you play your cards right.
The Tesla Model 3 made headlines earlier this week when it was discovered the RWD and Long Range derivatives are now eligible for the full $7,500 tax credit, making them genuine EV bargains. But if you're lucky enough to live in certain states, the popular electric sedan can be cheaper to purchase than many combustion-powered rivals.
In EV-loving California, the Clean Vehicle Rebate Program (CVRP) is available to residents who meet specific income requirements and purchase or lease “an eligible vehicle” like the Model 3. With as much as $7,500 on the table, there are incredible deals to be had.
As a reminder, the entry-level Model 3 RWD has an MSRP of $40,240. Now that it enjoys the full $7,500 tax credit, it can be purchased for just $32,740. Include the full CVRP incentive, and you're looking at just $25,240, which is $1,080 less than the entry-level Toyota Camry LE.
Tesla
Of course, the full $7,500 CVRP incentive isn't available to individuals in higher-income brackets (although they still get $2,000).
Per InsideEVs, residents of the San Joaquin Valley can receive an additional $3,000 incentive from the air pollution control board for purchasing a vehicle that doesn't emit CO2 emissions. You could bag a brand-new Model 3 for $22,240 if you meet all the criteria. Regardless of what you may think of Teslas or their questionable build quality, there's no denying that it's an incredible deal.
The publication also notes that additional savings can be had with specific referral and inventory discounts. But what if you don't live in California? The State of New York also offers residents a rebate of up to $2,000 through the Drive Clean Rebate initiative.
Tesla
In Colorado, residents were initially given a $2,000 state tax credit. From July 1, 2023, that will be increased to $5,000 “for vehicles with [an] MSRP up to $80,000.”
Even if your local incentives aren't as appealing as those mentioned above, there's never been a better time to buy a Model 3. You may want to wait for the facelifted model, but the current version will fit the bill nicely if you're looking for a comfortable and safe electric commuter.
It will be interesting to see how rival brands respond to this near-unbeatable deal.
Tesla
Keyword: Tesla Model 3 Is Nearly A $20K Car In California