Ordered a 2020 Tesla Standard Range Plus MSRP $39,990

Ask the Hackrs
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Hello All,

I have been debating if I should lease or buy my next car. I decided to buy as I had the $5,000 CVAP grant approved, $1000 Edison rebate, $1000 EvGo card for EV, $4500 CVRP after purchase.

Tried to get a lease on a:

1st option-2020 Hyundai NEXO Limited $227/mo after all incentives applied
2nd option-2020 Toyota Mirai approx. $100/mo after all incentives applied
3rd option-2020 Chevrolet BOLT basically FREE for 36 mo, plus around $3K profit
4th option-BUY Tesla Model 3 $44,848 including taxes and fees $586/mo with $8,000 down

Decided to go for the Model 3 and utilize the $11,500 rebates/grant that was available as FREE money…and they hold their value a bit more than any car now. Tesla gave me the best APR-even better than my local Credit Union 6% 60 mo, Pen Fed was 4.89% 60 mo, Tesla 4.65% 72mo-(doesn’t matter how long as will pay it off early or resell after 30 months)
I think I made the right decision as my commute to work is 9 miles round trip, I live in an apartment and plan to charge at a Super Charger near by $0.28/kWh (drive 12K miles would cost $800/year) or I have available FREE Level 2 a block away and at work.

2020 Tesla Model 3, MSRP $39,990 Black Exterior/White Interior, Base rims, Nothing else added (won’t need enhanced Autopilot :sunglasses:) so for $28,490 price after $11.5K applied, think it’s a great deal

What would you have done???

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Honestly, I don’t like any of those cars, so I would’ve gotten the Bolt. It’s free, you can’t go wrong.

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Bolt - free is free.

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Bolt. Free is free and the fewer cars Tesla sells, the the better. Anything to deflate Elon’s ego

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The absolute garbage quality on the EOQ Model 3 and now the Model Y are enough for me to stay as far away from Tesla as humanly possible, and that is before I even get to Musk.

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I would agree with the other hackers as well, knowing nothing else, just based on those options alone, I would have gotten the Bolt. Free is Free !

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Yes-I clearly paused on the FREE deal-but thought that Model 3 will not depreciate too much and I will still be ahead after paying $21096 for 36 months (if this market stays the same) after all I did get FREE $11,500 Lol but I do see your points… I may still lease a BOLT when my Equinox ends in October if great deals are available

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Honestly, if you qualify for low income you should have gone with the free Bolt.
With that said, there is no EV on the road today that can match Tesla qualities…no matter what the Tesla trolls keep saying. You will truly enjoy that car…especially if you can make the payments.

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Isn’t the CVRP max for Model 3 only $2,000 instead of $4,500?

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what is insurance cost diff between bolt and m3? or is that paid by state for you too?

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Depends. If you like cars and cool tech, you probably made the right choice. If a car is just a means of transportation to get from point A to point B, seems the Chevy was the no brainer.

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Obviously value retention is a big consideration when purchasing but isn’t there federal income tax credit up to $7,500 on the other cars when purchased?

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If you are low income, then you might not have $7500 in tax liability. Pure conjecture, OP can verify.

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Was mentioned on another thread that it’s actually been relabeled “moderate income” like $100k for a family of 4.

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Penfed is currently showing 2.89% for 60 months. ??

I do like the Model 3 and my guess is that it won’t cost you much over time.

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True but I don’t think even 100k get you 7k in federal tax liability. Especially with the new higher standard deduction but your mileage could vary.

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Is there a post about the bolt free thing?

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If you search the forum you’ll find it. But YMMV depending on what rebates you qualify for

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Congrats on your newly ordered Model 3.

My next car will be a Tesla.

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Not everyone gets advertised rates, it is dependent on what you are purchasing and your individual credit profile.

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