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

$40490
$44,990.00
(For Qualified Buyers)
+311 Deal Score
949,316 Views
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
Good Deal?

Original Post

Written by
Edited April 5, 2024 at 11:26 AM by
https://www.tesla.com/inventory/new/my

Tesla is attempting to clear out inventory on existing Model Y. With the instant $7,500 tax credit, this is an up to $12,500 discount on a new Model Y.

Prices seem to be as follows: After the $7,500 credit and new discount, the Model Y RWD starts at $33,890, the Long Range at $37,490, and the range-topping Model Y Performance at $40,690.
in Autos
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Deal
Score
+311
949,316 Views
$40490
$44,990.00

Community Wiki

Last Edited by desi_babu_2010 April 6, 2024 at 08:15 PM
Rebates depend on region. In California, discount is up to $7200 for RWD Y.

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Featured Comments

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.
This is not as good as the March deal. They are all $1000 more expensive. The other discounts were available most of q1.
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.

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> bubble2 8 Posts
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BrightHose796
04-13-2024 at 10:56 PM.
04-13-2024 at 10:56 PM.
Quote from DC13 :
If you want to see a fire sale, wait for end of year, they'll be selling these at a LOSS for the company. No one wants one and they are running out of parking lot space to store them.

"No one wants one" lol It's quite literally the bestselling ev in the world lol
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Joined Nov 2015
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> bubble2 434 Posts
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Crazybud
04-14-2024 at 12:47 AM.
04-14-2024 at 12:47 AM.
Quote from 300Lane1 :
Who would be here then if not a Tesla "fanboy" or hater?

This deal isn't for either of them
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Joined Oct 2015
L8: Grand Teacher
> bubble2 3,711 Posts
564 Reputation
goodness97
04-14-2024 at 03:45 AM.
04-14-2024 at 03:45 AM.
Quote from trojax :
Do not get Tesla, the insurance rate for this car is ridiculous.

So, for every ev including ioniq 5. I don't think there's any ev with cheap insurance.
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Joined Apr 2014
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> bubble2 329 Posts
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centurcit
04-14-2024 at 04:09 AM.
04-14-2024 at 04:09 AM.
Quote from cheapodeal :
Thanks. He doesn't have that much income/liability.

"It no longer matters how much you owe in taxes
This is another big benefit to taking the credit as a rebate: You get the full credit, regardless of your tax liability.

Previously, a buyer would need a tax liability at least $7,500 in a given year to get the full benefit of the credit. That's because the credit could reduce your tax bill to zero, but it would never result in the IRS actually paying you.

That functioned like an income minimum, since many low- and middle-income families owe less than that in taxes. It was also just another headache for people trying to figure out how much the credit was actually worth to them."

https://www.npr.org/2023/12/28/12...ford-vw-gm
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Joined Apr 2014
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> bubble2 329 Posts
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centurcit
04-14-2024 at 04:11 AM.
04-14-2024 at 04:11 AM.
Quote from Dr. J :
It's a nonrefundable credit. Does he have at least $7500 tax liability?

Not anymore, no tax liability is needed, see above reply
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Joined Jul 2015
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> bubble2 158 Posts
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jadr313
04-14-2024 at 05:30 AM.
04-14-2024 at 05:30 AM.
Quote from trojax :
Do not get Tesla, the insurance rate for this car is ridiculous.
I got a quote from my insurance. The price was the same as my 13 year old car.
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Joined Sep 2009
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> bubble2 375 Posts
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gstracer05
04-14-2024 at 07:31 AM.
04-14-2024 at 07:31 AM.
Quote from jadr313 :
I got a quote from my insurance. The price was the same as my 13 year old car.

What were you quoted? I got one for a Model Y and it was around $250/month.
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Joined Sep 2007
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> bubble2 139 Posts
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mandrsn11
04-14-2024 at 07:38 AM.
04-14-2024 at 07:38 AM.
Quote from gstracer05 :
What were you quoted? I got one for a Model Y and it was around $250/month.
We added the 3 is a 3rd car, it was $48/month. State Farm with a $500 deductable.
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> bubble2 952 Posts
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InstanceNoodle
04-14-2024 at 07:50 AM.
04-14-2024 at 07:50 AM.
Quote from jadr313 :
I'll wait until end of Q2 2024. Then I'll see what kinds of deals they're willing to do. Having paid off cars I'm not exactly in a hurry but no routine maintenance would be nice. Control arms are a DIY project and it's $400 for better aftermarket parts.

There is routine maintenance on this car. Tire rotation. Most people forget about this because they need nothing else.
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Joined Nov 2018
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> bubble2 181 Posts
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LivelyStraw9917
04-14-2024 at 07:52 AM.
04-14-2024 at 07:52 AM.
So does Tesla take the $7500 ITC off the price after you fill out the IRS forms.

No need to wait until April 2025 to file and recapture?

Other qualifying EV dealers are doing this since Jan 1st.

TIA
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Joined Feb 2015
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> bubble2 152 Posts
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DSS93
04-14-2024 at 08:01 AM.
04-14-2024 at 08:01 AM.
Quote from gstracer05 :
What were you quoted? I got one for a Model Y and it was around $250/month.

Mine is ~$80/month in OH for $500 deductible.
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Joined Dec 2010
L6: Expert
> bubble2 1,813 Posts
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roberthhid
04-14-2024 at 08:54 AM.
04-14-2024 at 08:54 AM.
Quote from goodness97 :
So, for every ev including ioniq 5. I don't think there's any ev with cheap insurance.
My 2023 ID4 has very cheap insurance. $902 for full year in Connecticut. Whether it's an ICE or EV always get an insurance quote prior to purchase.
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> bubble2 22 Posts
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sfsaigon
04-14-2024 at 08:56 AM.
04-14-2024 at 08:56 AM.
Quote from MurraytheDemonSkull :
Not the best price I have seen. MYLR was $41640 (before $7500 tax credit) back in December.
so your out of the door price is 41640-7500=34140? i paid out of the door is 42k
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> bubble2 22 Posts
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sfsaigon
04-14-2024 at 08:57 AM.
04-14-2024 at 08:57 AM.
Quote from trojax :
Do not get Tesla, the insurance rate for this car is ridiculous.
model y & 3: $1200/each per yr in bay area, cali
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> bubble2 22 Posts
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sfsaigon
04-14-2024 at 09:00 AM.
04-14-2024 at 09:00 AM.
Quote from cheapodeal :
My son (16 year old) recently got license. Is it possible to buy car under his name (to quality for tax credit). I guess if I am the co-owner, we cannot get tax credit, is that right?
yes. His name will be primary and yours will be secondary. No $7500 tax liablty needed.
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