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frontpage Posted by krispytreat007 • Jun 2, 2023
frontpage Posted by krispytreat007 • Jun 2, 2023

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

(For Qualifying Buyers)

from $37830

$40,240

1,793 Comments 922,873 Views
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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

Written by qwikwit | Staff
  • 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 krispytreat007
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
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

Written by qwikwit | Staff
  • 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 krispytreat007

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Top Comments

Eagles89
5963 Posts
786 Reputation
You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
scn312
168 Posts
65 Reputation
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
Knightshade
15329 Posts
4338 Reputation
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

1,792 Comments

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Jun 4, 2023
1,509 Posts
Joined Feb 2010
Jun 4, 2023
nojmplease
Jun 4, 2023
1,509 Posts

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

Silly to buy this now with the redesign imminent. You could likely either get a much improved design for a similar price or a substantial discount on the current model.
2
1
Jun 4, 2023
1,361 Posts
Joined Dec 2018
Jun 4, 2023
BilboMcBaggins69
Jun 4, 2023
1,361 Posts
Quote from Eagles89 :
You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
Better than forced dealership markups
1
Jun 4, 2023
610 Posts
Joined Aug 2011
Jun 4, 2023
dj12gauge
Jun 4, 2023
610 Posts
Seems like the prices keep dropping. Im not in the market right now but could be in a year or 2. Interested to see where it goes from here
Jun 4, 2023
8,986 Posts
Joined Nov 2008
Jun 4, 2023
Lanmanna
Jun 4, 2023
8,986 Posts
Quote from ABshe :
I'm holding for $25k.
You really think they'll get that low?
Jun 4, 2023
1,258 Posts
Joined Jul 2009
Jun 4, 2023
gironhe
Jun 4, 2023
1,258 Posts
Quote from sdsnake :
Y'all got it all wrong about that $7500 tax credit. You do not get the full $7500 off unless you pay 100% tax.
It's called a non refundable tax credit, if you don't owe the tax it doesn't help you
Jun 4, 2023
1,260 Posts
Joined Jan 2008
Jun 4, 2023
manku
Jun 4, 2023
1,260 Posts
Has anyone ever made a $40000, or even $2000, decision based on some random comments on a "deals" website? I come here for pricing...everyone's got an opinion, and they all stink.

The only thing worse might be taking financial or tax advice from strangers online.

You don't like Elon, EVs or Tesla don't buy one.


2
4
Jun 4, 2023
410 Posts
Joined Dec 2018
Jun 4, 2023
Slickfriendly
Jun 4, 2023
410 Posts
Quote from Eagles89 :
You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
Not to forget the overpriced Insurance.
I will wait till I get Model Y for 30K out the door.
2

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Jun 4, 2023
36 Posts
Joined Aug 2017
Jun 4, 2023
GustoKoLibre
Jun 4, 2023
36 Posts
If it's Elon musk, no thank you! I'm gunning for EV9
6
Jun 4, 2023
15 Posts
Joined Dec 2014
Jun 4, 2023
SamuelK1947
Jun 4, 2023
15 Posts
Quote from scn312 :
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
Link or any knowledge on the name of the rebate in NY
Jun 4, 2023
266 Posts
Joined Jul 2007
Jun 4, 2023
stpetedan
Jun 4, 2023
266 Posts
Maybe a dumb question. Does TESLA allow trade-in a Honda?
Jun 4, 2023
75 Posts
Joined Jan 2007
Jun 4, 2023
Bling78
Jun 4, 2023
75 Posts
Quote from Eagles89 :
You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
You don't need both a wall charger and mobile charger. Just the mobile charger would be fine. The $250 order fee goes toward the price of the car. All new cars have destination fee so nothing new here.
1
Jun 4, 2023
1,668 Posts
Joined Dec 2010
Jun 4, 2023
matrix5k
Jun 4, 2023
1,668 Posts
Quote from gen2 :
Cheaper than a Camry or Accord
Camry and Accord are larger than Model 3. Model S should be compared to those. Civic and Corolla are the same size as Model 3 and the base prices for those are currently cheaper.
2
Jun 4, 2023
96 Posts
Joined Jan 2007
Jun 4, 2023
yelnatsch517
Jun 4, 2023
96 Posts
Quote from PickyCustomer :
The company is in a big trouble. They need cash so bad that is why you see price reduction and promotions. They may go bankrupt or may be sold to other normal car manufacturer of can not receive enough money to make their cash flow positive soon. I think. I do no not own one since I live in DC and these do not work for most city people with curb side parking also not good for long trips as well . So have not even digged into their spec anyway. But for. Business perspective it is interesting to see how from top they went to the low.
What are you basing your statements off of? I don't see anything in their financial statements that show they are burning through cash. If anything, all of the other car manufacturers are the ones trying to catch up.
Jun 4, 2023
5,963 Posts
Joined Jan 2008
Jun 4, 2023
Eagles89
Jun 4, 2023
5,963 Posts
Quote from Bling78 :
You don't need both a wall charger and mobile charger. Just the mobile charger would be fine. The $250 order fee goes toward the price of the car. All new cars have destination fee so nothing new here.
Yes, all cars have destination fees but they are always included in the MSRP. Tesla doesn't include it in the MSRP

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Jun 4, 2023
59 Posts
Joined Dec 2018
Jun 4, 2023
NeatCrib197
Jun 4, 2023
59 Posts
Quote from slickjews :
i bought one a couple weeks ago in mid May. Do I get 7500 or 3750 only?
Should be 7500

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