Thanks to state initiatives designed to encourage Californians to adopt electric vehicles, the price of the Tesla Model 3 may be less than half of its MSRP in various California districts.
The price of the Tesla Model 3 can decrease to $19,830 when the federal tax credit is added along with the two probable California tax credits.
The entry-level rear-wheel-drive Model 3, whose base price is $40,240, with an EPA-estimated range of 272 miles and a 0-60 mph time of 5.8 seconds.
California citizens must first be qualified for one of the current programs in order to receive the lower fee.
The base Model 3 could cost $37,830 with referral links and inventory savings from WaitingForTesla. With the $7,500 federal tax credit that some electric vehicles are eligible for and an extra $7,500 from California’s Clean Vehicle Rebate Project (CVRP), the price can be lowered to $22,830.
Remember that not all individuals and vehicle makes qualify for the federal tax credit. The car must be produced in Canada, Mexico, or the US. The vehicle must also meet specific battery criteria in order to qualify for the credits, which are only available to people who fall under particular income limits.
To be eligible for CVRP, you must live in the Golden State or own a business there. Additionally, you need to meet specific income requirements. A $2,000 rebate is available to higher-income groups, while a bigger $7,500 credit is available to lower- and middle-income groups.
Some residents may also be eligible for an additional $3,000 credit from the air pollution control district in their region for choosing a zero-emissions vehicle.
The actual cost of the Model 3 can be $19,830 when all incentives are applied. Along with the Model 3, other EVs that are eligible for these incentives include the Ford Mustang Mach-E, Chevrolet Bolt EV, and Ford F-150 Lightning.
Even for individuals who don’t qualify for the additional $3,000 in savings, the federal tax credit and CVRP may still be able to help them save a significant sum on their electric vehicle.