Video Summary
The Tesla Model 3 has discounts that make it cheaper than ever.The base rear-wheel drive Model 3 starts at $40,240.
Credits and incentives will vary based on location and income.
It has a federal tax credit of up to $7,500, lowering the price to $32,740.
There can be state and local incentives as well, like California’s Clean Vehicle Rebate Project which offers up to $7,500.
Tesla advertises the savings on their website for Model 3 and Model Y.
The gas savings are significant, but depending on driving habits and incentives can vary.
An advantage of Model 3 is that you can drive it a lot and not have to worry about gas.
The hidden costs of a Tesla include: a $250 non-refundable order fee and a data plan for the car.
One month of the data plan, called Premium Connectivity, is free, but after that, it costs $10 per month or $100 per year.
This premium connectivity is what powers the music streaming, satellite maps, live traffic, viewing the car's camera on a phone app, etc.
Many things will work by tethering a phone with a personal hotspot.
Having a home charger is a game changer for the EV.
While Tesla charges, the charging station installation can be up to one thousand dollars.
Local utility companies might give a bill credit or a check to reduce power costs.
Good things about owning a Tesla are that it uses the same technology, has the same interiors, same screens, same software, and same cameras as other Teslas.
Quality is good, the tech is good, and performance and range are very good.
Downsides include the design of the Model 3 is old, a new model is coming that could look completely different, the fact that it lacks basic features like floor mats, no fog lights on the front, and limited interior lighting.
Insurance can be very varied, and so you should consult with someone and see what can be done about it in your area.
The Model 3, with some incentives, can cost as low as $30,000.
