Since the chip shortage raged during the pandemic, good deals have been harder to come by in the auto market. If you’re in California and looking for an EV, though, you might be lucky enough to score a Tesla for well under $20,000 thanks to a cavalcade of available rebates.
This week, a user named Zohar on Twitter outlined the smoking hot deal they got on a brand new Tesla Model 3. Based in California, he scored the car for just $13,620 before taxes and fees. After paying the $1,390 delivery charge and the local 9.25% tax rate, the price came to $18,525.93. That’s an insane price to pay for a car with a recommended retail price that started at $41,240.
The hero of our story was kind enough to outline the stack of discounts and rebates that netted this insanely low price. First up, the base Model 3 got a $4,120 discount off the bat, while a referral bonus netted Zohar a further $500 off the price. Thus, the starting sticker price was $36,620 before taxes and delivery.
From there, EV subsidies kicked in. Our protagonist qualified for extra rebates aimed at low-income individuals due to his financial situation over the last year. The Clean Vehicle Rebate Project netted a $7,500 rebate. The Electrify Your Ride program from Central Coast Community Energy kicked in a further $4,000, as did the Electric Vehicle Incentive Program run by the Monterey Bay Air Resources District. On top of that, Zohar will be in the position to claim the $7,500 Federal tax credit as well. That’s $23,000 in rebates and credits on top of the healthy discounts already mentioned.
All that got the effective purchase price down to $13,620, not counting taxes and fees. Unfortunately, the 9.25% tax rate still applied on the original sticker price of $36,620, for a bill of $3,515.93. Meanwhile, the delivery charge stood at $1,390. All up though, Zohar is sitting in a brand-new Tesla Model 3 for just $18,525.93. Even if the steering wheel falls off in a week, that’s a screaming deal. He credits the Access Clean CA website for helping him identify incentives he was eligible for.
It bears noting that plenty of other EVs are eligible for the same incentives seen here. Of course, a good chunk of Zohar’s savings were thanks to the upfront inventory discount on the Tesla. Also worth considering is that many of the rebates must be applied for after taking delivery of the vehicle, and can take some time to process.
Obviously, not everyone will be eligible for such a long list of incentives. However, for those in the right place with the right qualifying factors, it goes to show that epic deals are currently on the table. Just don’t expect to profit out of a quick flip—the vast majority of incentives specify a minimum ownership period to prevent such shenanigans. In any case, good luck hunting down a bargain out there!
Got a tip? Let the author know: lewin@thedrive.com