Tesla CEO Elon Musk keeps mentioning there is an entry-level Tesla coming down the road. We’d put the price at somewhere between $20,000-$25,000. But what if you could buy a brand new Model 3 right now for that? Here’s how.
In most cases, the rebates and credits will get you a new Model 3 for around $25,000
First, for now, this is a California-only deal. And it varies depending on where you live in Cali as there are different incentives, tax credit, and cash rebates for different regions of the state. But in most cases, it will put you into a new Model 3 for around $25,000, and definitely for under $30,000 no matter where you live in the Golden State.
This doesn’t mean that some of these incentives or similar credits aren’t available in other states. Though the federal tax credit is no longer available there are still offers from some states to help slide you into an EV. We’re looking at Cali because it seems to offer the most extensive lineup of ways to cut the price of your new Tesla.
To start, California gives all EV buyers a $1,500 California Clean Fuel Reward deduction. It pops up on your Tesla purchase invoice. That gets your new Tesla Model 3 at $36,999, but we have a ways to go.
If you live in Cali apply for $5,000 from the Clean Vehicle Assistance Program
If you live in Cali you can apply for a $5,000 grant from the Clean Vehicle Assistance Program. Eligibility is dependent on your income, and the application can take up to three months to process. Once you are approved you can contact your Tesla dealer to process what the state gives you.
The Clean Vehicle Assistance Program also has grants of $2,000 for the cost of installing a charging system in your house. Added to the initial $5,000, you now have $7,000 towards the purchase price of the Model 3. But there is more.
For Bay Area residents there are the Clean Cars For All program. This can be up to a $9,500 rebate. If you have gotten $7,000 from the CVAP then you can only receive an additional $2,500 from the CCFA program for a cumulative $9,500.
There’s one more grant currently available in the California Clean Vehicle Rebate Project. Only certain EVs are available and the Model 3 (and also the Model Y) is on the list. You apply online for the $2,000 rebate which if approved is mailed to you.
If you live in San Diego County or San Joaquin Valley more is available
If you live in either San Diego County or San Joaquin Valley there is more available from the CVRP. An additional $2,500 for low and moderate-income folks in those counties can be applied for. The application is on the CVRP website.
There are a number of Clean Vehicles this-and-that we’ve covered here, so CleanTechnica has put together a handy chart to break it down:
So how do these all add up toward the bottom line? Living in the Bay Area gives you the potential of lowering the Model 3 price by $13,000. That gets the $38,950 price down to $25,950.
The same goes for those that apply for the maximum rebates and credits living in San Joaquin or San Diego County. With a potential credit/incentive of $13,000, the price drops to $25,950. For those living elsewhere in California, the possible rebate/credit comes to $10,500, reducing the price to $28,450.