The lucky buyer, who goes by the name Zohar on Twitter, took to the social media platform to share the secrets behind this incredible deal.
The Tesla Model 3 he chose originally had a starting price of $37,120, making it seem impossible to acquire one for less than half the price. However, Zohar's purchasing strategy involved a unique combination of state and local rebates, federal tax credits, and a generous $4,120 discount from inventory.
To break it down, Zohar qualified for various rebates designed for low-income individuals due to a financial issue he experienced the previous year. Additionally, his improved income and good credit score this year allowed him to benefit from a $7,500 federal clean vehicle credit. Furthermore, he received a $4,000 discount from the Monterey Bay Air Resources District under the Electric Vehicle Incentive Program and an extra $4,000 from the Electrify Your Ride Program offered by Central Coast Community.
In total, Zohar managed to accumulate an impressive $23,000 in incentives, which substantially brought down the price of the Tesla Model 3 to just $13,620. However, it's worth noting that he still had to pay the $1,390 destination charges and a 9.25 percent tax rate, adding up to a total of $18,525 for his dream electric car.
Zohar's experience proves that with careful planning and leveraging available incentives, owning a top-tier electric vehicle like the Tesla Model 3 can be a reality for many consumers.
Tesla's Future Plans
Looking ahead, Tesla is said to be working on an even more affordable electric vehicle, potentially called the Model 2. Expected to be priced below $25,000, the Model 2 might be unveiled in 2024 at Tesla's Giga Berlin production facility, further expanding the accessibility of electric transportation.
