This is the exact deal I got for my 2023 metallic gray M3 RWD . Actually MF was 0.000716 I think. I LOVE this Tesla 3.
1 Like
Any idea if the acquisition fee can be rolled into the 36 month lease payment, or does Tesla require it to be paid “out of pocket” when taking delivery? Along with the first month’s payment? In other words- curious if all fees can be rolled into the lease (and yes, aware that I’d be paying 2.4% in interest against those fees)
Thanks for any info someone may have.
1 Like
Picking up mine this Friday, as no- not a lease “hack” however the pricing is excellent right now in NJ:
- Tesla has lowered their pricing twice (I believe) so far this year
- State of NJ (-$4,000) EV incentive that gets applied at delivery (all you need as “proof” is your NJ DL)
- State of NJ will reimburse 100% for the installation cost for a home Level 2 charger (through JCP&L)- check the details as there is a listing of which charges are required (and the Tesla charger isn’t one of them)
- State of NJ will reimburse (-$250.00) towards the purchase of an EV Charger (it is an online application, and there is a listing of which chargers are included (and the Tesla charger isn’t one of them)
In terms of the lease:
- 36 months
- 10k annual miles
- 0.0007930 MF (or 1.9% interest rate)
- 68% RV
2 Likes
Leasing a Tesla in NJ… IS a lease hack.
7 Likes
Have you gone through jcpl to get these reimbursements? I’m curious what the process is for application, timeframe, etc.
1 Like
I will take it one step at a time:
- The $4k is a State of NJ EV incentive, and you just need to show that you are a NJ resident upon delivery (which is your DL); no other actions needed, so how simple is that?
- The home EV Charger installation rebate is through JCP&L; it is up to $1,500.00; the application is online + easy to fill-in; the one “watch out” is that they require certain EV chargers to be purchased/installed…and Tesla is not one of them (I went with the JuiceBox 40, which I prefer as this can charge any type of EV vehicle)
- The EV purchase rebate is $250.00, and is also through JCP&L; same comment applies here, it only applies to certain brand EV chargers. What I did was cross-check the ones eligible on the installation list compared to the ones on the EV purchase rebate list…and hence why I went with the JuiceBox 40
Bottom line- I wasn’t in the market for a Tesla, and historically (as pointed out on this forum) they lease horribly! I thus jumped on this.
Hope this helps, and yes- I did lots of research this past weekend, to see if/how I can maximize NJ EV incentives. Their website shows how much of the $60M allocated has been used up- pretty cool.
3 Likes
Yes I got that. I’m wondering more about application process time frames. Do you have to apply and get approval before you install(seems like not)? How long does it take to get approved?
- You need the serial number of your EV charger in order to complete the rebate application, thus apply at that time (when you get the charger)
- You apply for the EV installation Rebate after the installation, as you need the cost and electric license # (of your electrician or general contractor)
- I can’t answer how long it takes to process, as I just got my charger today/it gets installed TMR
I’m considering leasing the M3 in NJ. is there a difference if I order online or go into a dealer? Any reason to do one over the other? I want to make sure I get the 4k rebate and any other incentives available
Order online
2 Likes
The dealer is going to do the exact same thing, go on his computer.
What was the answer on the acq fee? Up front required?
Order online. The rebate will show up. If not, just reach out them to have it added. Really easy process.
Once I was assigned a VIN#, I changed the “additional charges” to add up to $4,250 via the Tesla app, which equals the order deposit of (-$250) I paid + the NJ EV rebate of (-$4,000), which amounts to $404.48/month (which I think is outstanding for this car, especially in this horrible leasing market we are in!)
My appointment is for 15 minutes (based on how many cars they are delivering in Mercer County NJ), thus expect to show up, and drive away.
Here are the screenshots validating this- so yes, less the (-$250) order deposit I paid, this is essentially a no out-of-pocket for this lease for me
2 Likes
Technically there are no Tesla dealerships…
“Tesla doesn’t have a dealer network and instead sells cars through its stores, which serve as showrooms where customers can meet with a sales person, see a Tesla and configure their own vehicle.”
I was assigned a VIN yesterday. I didn’t know you could edit the lease numbers in the app and basically reduce the DAS to zero, thank you for pointing this out. And yes, $404/month for this car is unheard of, especially in this market.
1 Like
Amazing answer! Thanks!
I will “report back” to see if anything changes when I pick the Tesla up later today (doubt it), as (according to the answers I received via email from Tesla) acquisition fee must be paid out-of-pocket.
1 Like
That’s what I thought too (about the acq fee). Yes, please, I would appreciate it if you could report back on how things worked out in the end 
And congrats on your M3! Enjoy!