Yeah you did mate! Sorry- just gets buried with all these comments. 
someone decided to still change and leave the title at higher so beats me. Not a terrible deal compared to what folks are getting for effective $4xxx or $5xxx so beats me
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I am not the one that changed it, howevere, at the time you posted the thread about it being a $399/mo lease, it was actually a $399/mo lease with $4500 cap cost reduction for around $5600 das, before taxes and gov fees… so it was an accurate change.
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Here is an updated calculator for anyone interested, based on all the info gathered here. I think the biggest point for people to know is that this effective discount does NOT apply to the Performance M3.
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Just for giggles, if you put in a 7.5% tax rate and reasonable CA gov fees (since the thread is tagged as socal), this works out to $399/mo with right around $6000 DAS… meaning the thread title is spot on.
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Above is with 1k color upgrade. How much the lease interested rate 1.9% can be trusted (assuming excellent credit history)
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.
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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.
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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
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Leasing a Tesla in NJ… IS a lease hack.
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Have you gone through jcpl to get these reimbursements? I’m curious what the process is for application, timeframe, etc.
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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.
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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
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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
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