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expiredxTorquEx posted Apr 05, 2024 05:46 PM
expiredxTorquEx posted Apr 05, 2024 05:46 PM

2024 Tesla Model Y + $7,500 Federal Tax Credit

(For Qualified Buyers)

$40,490

$44,990

10% off
1,480 Comments 1,006,551 Views
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Deal Details
Tesla has dropped the base price of the Tesla Model Y from $44,990 down to $40,490. All Model Y vehicles also qualify for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member xTorquEx for finding this deal.

Available models:
  • Tesla Model Y (Standard Range) from $40,490
  • Tesla Model Y (Long Range) from $44,990
  • Tesla Model Y (Performance Dual Motor All-Wheel Drive) from $48,140

Editor's Notes

Written by megakimcheelove | Staff
  • 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
  • The 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.
  • 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 xTorquEx
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Tesla has dropped the base price of the Tesla Model Y from $44,990 down to $40,490. All Model Y vehicles also qualify for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member xTorquEx for finding this deal.

Available models:
  • Tesla Model Y (Standard Range) from $40,490
  • Tesla Model Y (Long Range) from $44,990
  • Tesla Model Y (Performance Dual Motor All-Wheel Drive) from $48,140

Editor's Notes

Written by megakimcheelove | Staff
  • 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
  • The 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.
  • 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 xTorquEx

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Top Comments

Autumn
49505 Posts
5094 Reputation
Ok look...

There's a pattern with Tesla threads here. I don't care if you all wanna discuss the deal or the cars but it always turns into paaaages and paaaages of bickering back and forth and nobody ,except for the few involved, enjoy that or wanna wade through that. So cut that stuff out, please and thank you.
AhmadH1772
8 Posts
10 Reputation
This is not as good as the March deal. They are all $1000 more expensive. The other discounts were available most of q1.
BrettL5675
494 Posts
57 Reputation
FYI just because it says "New" doesn't mean it qualifies for the 7500 tax credit. Demo models are new but do not qualify for 7500. If the specific inventory item qualifies it will directly say it on the site.

1,479 Comments

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Apr 08, 2024 05:17 PM
119 Posts
Joined Jan 2014
mattunApr 08, 2024 05:17 PM
119 Posts
Quote from Dr. J :
On average that's the case [marketwatch.com], but you really should shop it.

Full-coverage car insurance for 2022 Tesla vehicles costs an average of $3,007 per year or $251 each month. This makes Tesla auto insurance premiums approximately 50% pricier than for the average vehicle with a full-coverage policy.
It's really not 50% (off nerdwallet). Like they're all over the place, but it's really more compared to MSRP. Camrys are technically crummy to insure because you pay way higher percentage compared to their MSRP in insurance...

Vehicle Avg Insurance MSRP % of MSRP
Toyota Camry $1,822 $26,320 6.9%
Tesla Model 3 $2,296 $40,240 5.7%
Ford Explorer $1,780 $38,570 4.6%
Tesla Model Y $2,530 $52,630 4.8%
Last edited by mattun April 8, 2024 at 11:22 AM.
1
Apr 08, 2024 05:18 PM
2,070 Posts
Joined Feb 2007
CMoney408Apr 08, 2024 05:18 PM
2,070 Posts
"range-topping Model Y performance"

Just to be clear, the performance is NOT the longest range model Y.
Apr 08, 2024 05:22 PM
1,471 Posts
Joined Nov 2008
EchoTonyApr 08, 2024 05:22 PM
1,471 Posts

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

After having a Model Y for about 5 months, I can offer the following things to consider if buying a Tesla.

Your insurance is going up unless you already drive a $100k + car. These are priced based on cost of repair and history of Tesla drivers crashing more than other brands. So expect an increase. Depending on where you live, your cost to charge may be a big savings over gas or not. For us, gas is very expensive, so using electricity is a savings - even though our local utility is also criminally over-priced (SDG&E).
Generally, you will want to charge at home over supercharging. Very nice to wake up to a full charge for the day. Expect to have a 240v plug installed or a dedicated wall charger.

The up side is the cars are nice and drive well. I don't see having to do anything more than changing tires, swapping out cabin air filters, and filling washer fluid. This month we got free Full Self Driving as a trial. It's cool, but I don't trust it. Not yet. it drives like an old lady - one with some vision issues. I would think in another year or so it will be pretty good.

Included games, browser, Netflix, YouTube, and other goodies make charging stops painless. I really like it for the family car that's used for taking the kids to school and activities. Not really there for long trips unless you are totally in California. Then it's ok as there are plenty of charging stations. But as you leave the West, it's a bit more of a concern. At present the ICE/ICE-hybrid is better for long trips.

2
1
Apr 08, 2024 05:31 PM
111 Posts
Joined Oct 2016
harisahmed90Apr 08, 2024 05:31 PM
111 Posts
Quote from EchoTony :
After having a Model Y for about 5 months, I can offer the following things to consider if buying a Tesla.

Your insurance is going up unless you already drive a $100k + car. These are priced based on cost of repair and history of Tesla drivers crashing more than other brands. So expect an increase. Depending on where you live, your cost to charge may be a big savings over gas or not. For us, gas is very expensive, so using electricity is a savings - even though our local utility is also criminally over-priced (SDG&E).
Generally, you will want to charge at home over supercharging. Very nice to wake up to a full charge for the day. Expect to have a 240v plug installed or a dedicated wall charger.

The up side is the cars are nice and drive well. I don't see having to do anything more than changing tires, swapping out cabin air filters, and filling washer fluid. This month we got free Full Self Driving as a trial. It's cool, but I don't trust it. Not yet. it drives like an old lady - one with some vision issues. I would think in another year or so it will be pretty good.

Included games, browser, Netflix, YouTube, and other goodies make charging stops painless. I really like it for the family car that's used for taking the kids to school and activities. Not really there for long trips unless you are totally in California. Then it's ok as there are plenty of charging stations. But as you leave the West, it's a bit more of a concern. At present the ICE/ICE-hybrid is better for long trips.
Agree. I have 3 ice cars and one Tesla.
Cannot beat the tesla as a daily driver. I love messing with last minute mergers in Tesla. you are pretty much faster than everyone around you
1
Apr 08, 2024 05:33 PM
1,195 Posts
Joined Oct 2013
MasaikeApr 08, 2024 05:33 PM
1,195 Posts
I have some question on the 7500 credit. If I make more than 300k a year, then I can not get 7500 off the retail price? But if I don't make more than 300k a year, then I don't need to wait for tax return, instead I can get 7500 discount immediately?
1
Apr 08, 2024 05:45 PM
119 Posts
Joined Jan 2014
mattunApr 08, 2024 05:45 PM
119 Posts
Quote from Masaike :
I have some question on the 7500 credit. If I make more than 300k a year, then I can not get 7500 off the retail price? But if I don't make more than 300k a year, then I don't need to wait for tax return, instead I can get 7500 discount immediately?
Yeah, they take it off immediately now if you qualify.
Apr 08, 2024 05:45 PM
434 Posts
Joined Jan 2016
Erlarson85Apr 08, 2024 05:45 PM
434 Posts
Be sure to ask about the warranty. Sometimes when they're demo cars they enable the warranty at that time. You might get sipped a few months of coverage in order to 'save' that $5k.

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Apr 08, 2024 05:49 PM
29 Posts
Joined Nov 2011
mustang6xApr 08, 2024 05:49 PM
29 Posts
Quote from Masaike :
I have some question on the 7500 credit. If I make more than 300k a year, then I can not get 7500 off the retail price? But if I don't make more than 300k a year, then I don't need to wait for tax return, instead I can get 7500 discount immediately?
That's right. We picked up our model y last weekend, 7500 off was applied immediately. What is cool is that you can use your last year income or you can use expected income for 2024. No verification needed at the moment of purchase.

Btw, if anyone wants a referral for free 3 months of FSD - dm me, I can share the code.
1
Apr 08, 2024 05:51 PM
981 Posts
Joined Oct 2010
oldcat87Apr 08, 2024 05:51 PM
981 Posts
Wait till Chinese EVs flood the US market and Teslas have to cut prices in half to compete. Good times ahead.
1
1
Apr 08, 2024 05:52 PM
1,364 Posts
Joined Jan 2021
SlackyApr 08, 2024 05:52 PM
1,364 Posts
Quote from Autumn :
Ok look...

There's a pattern with Tesla threads here. I don't care if you all wanna discuss the deal or the cars but it always turns into paaaages and paaaages of bickering back and forth and nobody ,except for the few involved, enjoy that or wanna wade through that. So cut that stuff out, please and thank you.
Dark red type is basically impossible to read in dark mode. Standard color is better if you want your message legible to others.
Apr 08, 2024 05:53 PM
29 Posts
Joined Nov 2011
mustang6xApr 08, 2024 05:53 PM
29 Posts
Quote from flangomango :
How expensive is the insurance on these things?
We had ~800 for 6 months for 2022 Niro and 2024 Sportage, our new quote is 1300 for 3 cars with Tesla MYLR. GEICO. San Jose, CA.
2
Apr 08, 2024 05:53 PM
4,161 Posts
Joined Nov 2013
OnTheHunt_SCApr 08, 2024 05:53 PM
4,161 Posts
Quote from mitchflorida :
This is very misleading. The quote is from Tesla Insurance Company. Other insurance companies like State Farm and Geico are much cheaper! No one is obligated to buy car insurance from Tesla.
I heard from my insurance agent that it's cheaper to insure through Tesla than 3rd party providers. So using Allstate or State Farm it should be more than what OP quoted.
Apr 08, 2024 05:54 PM
1,056 Posts
Joined Aug 2011
JXN89Apr 08, 2024 05:54 PM
1,056 Posts
Quote from oldcat87 :
Wait till Chinese EVs flood the US market and Teslas have to cut prices in half to compete. Good times ahead.
LOL. The last thing I want is a Chinese car 😂😂😂
Apr 08, 2024 05:54 PM
893 Posts
Joined Nov 2015
venom.gokuApr 08, 2024 05:54 PM
893 Posts
Wow. I feel bad buying it for 53k back in Jan 2023
1

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Apr 08, 2024 05:56 PM
2 Posts
Joined Mar 2022
AWNizApr 08, 2024 05:56 PM
2 Posts
I'm happy with my Honda

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