That’s crazy…i think i will be passing on Teslas. The total cost of ownership just doesn’t make sense.
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Our 6 mo premium for a M3LR last year was in the mid 400’s with progressive. One has just to shop around.
Tesla is also offering their own insurance in some states although i have no clue about amounts,
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We switched from Geico to Allstate back in 2019. We went from $2300/year for two cars to $1400/year (same coverage, slightly higher deductibles). To this day, no other company has been able to even match it. One State Farm agent last time told me to hold on to this policy for as long as I can 
I’m going to give my Allstate agent a call on Tuesday to see what they would quote me on a M3.
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I also got my law degree there!
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I don’t think you have to pay taxes when selling to these companies…
I think they are referring to the taxes saved by trading in vs selling and then buying something else?
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I bought out a leased Santa Fe and sold it to to GMTV last year, I did pay taxes here in NJ when I went to the motor vehicle for the title. So would it be different if I paid off my loan this time?
You’re “supposed to report it to the IRS if you make a profit” 
but even then say you have a $5000 profit over what you owe on the car in NJ @ 6.65% that’s what $332? I think? Unless I’m missing something and they tax the full amount of the car.
All I could find:
“You do not need to pay sales tax when you are selling the vehicle. However, you may need to pay taxes on any profit you acquired as a result of the sale. In other words, if you sell a car for $4,000 after buying it for $1,000 (for a $3,000 profit), you may need to pay a capital gains tax on that profit, but you don’t need to pay a sales tax on the actual transaction.”
That is for those that qualify for the $7,500. Up here in the Northern part of the state I would assume a higher than average percentage of households would not qualify.
does this $4000 credit apply if i do 24 months lease? it seems need 36 months but i don’t know if Tesla care that rule or not. Thanks!
There is no income requirement for the lease tax credit.
It’s worth noting, however, that just because there isnt a $7500 cap cost reduction doesnt mean the tax credit isnt being at least partially passed on.
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I’d assume Tesla would care as they would want that $4k paid to them.
i guess the question is if they can get the payment or not if lease agreement shows 24 months only
How long would it take to google this?
NJ ChargeUp rules have changed multiple times over the years. Look it up for yourself and don’t rely on possibly outdated info from random internet users.
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nj chargeup website says at least 36 months but on tesla 24 months still shows that $4000 credit, that is why i asked here. How difficult is that to understand?
Only source that matters.
Doesn’t matter what Tesla’s website says.
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trying to buy the model 3, anyone know where is the best interest rate? tesla is above 5%
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I am trying to recreate the deal and just spoke with Tesla. They said the $4,000 will reduce the purchase price of the vehicle on which the lease payments are based. It does not go towards the down payment.
Does the guy I spoke with at Tesla not know what he is talking about or is there something else going on here?
Just responded to your PM.
Seems like no one at Tesla knows the answer to it.