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2023 Tesla Model 3 w/ 3 Months Supercharging + $7500 Federal Tax Credit

from $37830
$40,240.00
(For Qualifying Buyers)
+341 Deal Score
869,597 Views
Tesla is offering its 2023 Tesla Model 3 starting from $37830. This model now qualifies for the $7500 Federal Tax Credit (more information here and here).

Thanks to community member krispytreat007 for sharing this deal.

Note, price and availability will vary by location and may be limited. Additional fees may apply.

Additionally, this includes 3 months free unlimited Supercharging if ordered and delivered between June 14 and June 30, 2023.

Editor's Notes & Price Research

Written by
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300000 for married couples filing jointly
    • $225000 for heads of households
    • $150000 for all other filers
  • The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
  • See the forum thread for deal discussion.
  • Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.

Original Post

Written by
Edited June 29, 2023 at 07:02 PM by
The base Tesla Model 3 once again qualifies for the full EV tax credit. New inventory also has a $2,410 discount present. Thus, a base model 3 now comes out to 37,830-7,500=30,330 excluding taxes.

https://www.tesla.com/inventory/n...&range=200


https://www.tesla.com/inventory/n...&range=200

QA Note: Please check the IRS sites here [irs.gov] and here [fueleconomy.gov] to make sure the car/model you choose is eligible before buying. Keep in mind that not all users will qualify for or get the full $7500, depending on various factors.

QA Note: Registration Zip Entered Might Change Inventory/Availability/Price
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Created 06-02-2023 at 03:30 PM by krispytreat007
in Autos
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Deal
Score
+341
869,597 Views
from $37830
$40,240.00

Community Wiki

Last Edited by random. August 8, 2023 at 01:43 PM
Also, for new owners - you don't have to buy a dedicated $450 hard-wired charger. The plug for the mobile charger comes off and you can buy a NEMA 14-50 adapter from Tesla for $30. It charges at 32A and is quite fast.
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To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers

Federal EV Tax Credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.

--------------
Here's how cheap you can get a new Model 3 RWD right now (including fed & local EV incentives):


• VT: $26,320
• MA: $26,830
• PA: $27,330
• MD: $27,330 - Delivered after July 1, 2023 https://marylandev.org/maryland-ev-tax-credit
• RI: $27,820
• DE: $27,820
• NY: $28,320
• CA: $28,330
• CO: $28,330
• CT: $29,030
• ME: $29,320

on top of above info federal, state and local incentive info that i posted , some employers are also providing ev incentive like exaple bank of america employees gets $5k incentive , in this case the best case scenario is like below


example scenario

• VT: $26,320 - $5000 bank of america employee ev incentive = $21,320

-------------

CA CLEAN VEHICLE REBATE PROGRAM

$2K is available if your household makes <$200k.

There is an increased rebate of $7500 ($5500 on top of the $2k) available if you fall below income caps based on your household size.

Family of 4 max is $111k, Family of 6 is $149k.

This comes in the form of a check in 2-3 months. https://cleanvehiclerebate.org/en...ligibility

This is separate from the CARB Clean Vehicle Grants described below the dashes. It is possible to qualify for both, but the timing is different.


----------------

And California residents that live in a disadvantage community (DAC) https://cleanvehiclegrants.org/eligibility/
Disadvantaged communities are determined using CalEnviroScreen (https://oehha.ca.gov/calenviroscr...oscreen-40). Classification is based on community exposure and vulnerability to pollution, among other factors.
here's the DAC map: https://oehha.ca.gov/calenviroscreen/sb535

And receive an Approval Letter through email.

You must receive an Approval Letter BEFORE you purchase a vehicle. We do not offer rebates and you cannot redeem a grant if you have purchased a vehicle before being approved.



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Featured Comments

You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
Tesla Model 3 RWD starts at $40,240 but is now eligible for the full $7,500 federal tax credit (income limits apply). Previously, it was only eligible for $3,750. This makes the starting price $32,740 after tax credit.

https://www.tesla.com/model3/design

Deal is even sweeter if you live in a state with additional credits:

VT: $26,320
MA: $26,830
PA: $27,330
RI: $27,820
DE: $27,820
NY: $28,320
CA: $28,330
CO: $28,330
CT: $29,030
ME: $29,320

Full tax credit details below, but the following income limits apply:

$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers

https://www.irs.gov/credits-deduc...3-or-after
NO IT DOES NOT.

Withholding is totally irrelevant to qualifying for the credit.

If you're unclear on this go read a 1040.

The part where you compute tax liability is lines 16 through 24.

THAT is where the $7500 EV credit comes off.

Your withholdings aren't even looked at until after that on line 25+







This is also not correct.

The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,600 is refundable for the 2023 tax year.

Refundable credits are computed AFTER non-refundable ones-- so the CTC is only "worth" $400 off your tax burden for these purposes- the $1600 left is refundable.

Thus if you had say $7900 in tax burden and one CTC and one EV credit, your tax burden would go to $0 and you'd get a full refund of the $1600 refundable part of the CTC


Source:
https://www.nerdwallet.com/articl...tax-credit

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Eagles89
06-02-2023 at 03:34 PM.

Our community has rated this post as helpful. If you agree, why not thank Eagles89

06-02-2023 at 03:34 PM.
You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
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Cherub
06-02-2023 at 03:53 PM.

Our community has rated this post as helpful. If you agree, why not thank Cherub

06-02-2023 at 03:53 PM.
On one hand, WTF!!! I just bought on Monday and now $1,200 off just a few days later?! I was watching prices for two months and still missed it.

On the other hand, I would be thrilled to see the full tax credit available again on the non-Performance 3, but according to the IRS, the credit is still $3,750. See here [fueleconomy.gov]. This is current as of 6/1, so unless something changed since yesterday (and there is no news supporting this), it sounds like an error.
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