Update, 8/27: In addition to the $1,000 referral discount, there is 1.99% APR financing available on Model 3 and Model Y available until 8/31.
NJ’s sales tax exemption ends on 9/30, which stacks nicely with their $2,000 credit.
Will these stacking offers get you to purchase a Tesla?
Update, 8/26: For a limited time only, you can save an additional $1,000 off any Tesla via our referral link!
For example:
- The Model 3 RWD Long Range (363 mile range!) will be $41,490 after referral or just $33,990 after the $7,500 tax credit. NJ residents will pay just $31,990 after the stackable state credit and no sales tax for deliveries through 9/30!
- The Model Y RWD Long Range will be $43,990 after referral or just $36,490 after the $7,500 tax credit. NJ residents will pay just $34,490 after the stackable state credit and no sales tax for deliveries through 9/30!
- The Model Y AWD Long Range will be $46,990 after referral or just $39,490 after the $7,500 tax credit. NJ residents will pay just $37,490 after the stackable state credit and no sales tax for deliveries through 9/30!
Update, 7/11: Tesla is now selling a new Model 3 RWD Long Range (363 mile range!) for $42,490 or just $34,990 after the $7,500 tax credit. NJ residents will pay just $32,990 after the stackable state credit!
NJ currently has no sales tax on EVs and credits for home chargers. Note that NJ sales tax on EVs starting on 10/1/24 will be 3.3215% and will go up to 6.625% on 7/1/25.
Update, 7/10: The $2,000 NJ Charge Up credit is alive again and will work for the Model 3 and Model Y! Beginning on a yet-to-be-determined date in the fall, this will increase to $4,000 for income-qualifying residents that earn up to $75K individual MAGI or $150K household MAGI.
Combined with the federal tax credit, a Model 3 Long Range AWD will be just $37,990, a Model Y Long Range RWD will be just $35,490, and a Model Y Long Range AWD will be just $38,490!
Many other states also offer additional discounts!
Originally posted on 6/23:
I’ve been driving the Tesla Model 3 Long Range All Wheel Drive since 2018 and love it. The Model 3 has now been fully refreshed and that sweet spot model is now eligible for the $7,500 federal tax credit, dropping its cost to $39,990 if you’re eligible. It was previously not eligible for any tax credit this year after the refresh.
The Model Y will be similarly refreshed next year.
The tax credit is now valid at the point of sale, so you will pay just $39,990+fees and tax out the door for the refreshed Model 3 Long Range All Wheel Drive. The credit applies if you buy or finance the car, but not for leasing the car, though lease payments have dropped as well.
The tax credit applies in full if you have AGI in the current year or the previous year up to $300,000 for married couples filing jointly, $225,000 for heads of households, or $150,000 for all other filers. As long as your AGI is lower than those numbers in either year, you will qualify for the credit. However, if you expect a lower AGI in 2024 in order to qualify, but wind up with a higher AGI, you will have to pay back the credit when you file your taxes.
Best of all, while in previous years the credit was non-refundable, with the point of sale rebate if your tax liability is lower than $7,500, you will not have to pay back the credit, as long as your AGI is lower than the limits.
Speak to a financial professional for more details about how the tax credit may affect you.
It’s worth noting that if you’re buying a car for business purposes, there is an alternate $7,500 commercial EV credit, that has no income limitations and will be valid on all Tesla models as it has no cost limit either. Speak to a financial professional for more details.
And if you buy a Model X for business purposes, you may be able to take a first-year section 179 60% bonus depreciation for cars weighing over 6,000 pounds that are delivered by 12/31/24 before depreciating the rest of it over 7 years. That can mean massive tax savings based on your marginal federal and local tax rate. Speak to a financial professional for more details.
- Many states also offer incentives for buying an EV:
- NJ buyers pay no sales tax on EVs and there are charging installation rebates.
- NY offers a $2,000 EV rebate and HOV lane stickers.
- Colorado offers a $5,000 tax credit for EVs up to $80,000.
See more state incentives here.
While in the past Tesla had a referral program that offered additional credits and perks, that program is currently unavailable. Elon Musk said to expect the referral program to return next quarter, so you may want to wait for that to happen before buying a Tesla.
Here is a history of Tesla pricing (Scroll at the bottom of the chart):
| Model | Late 2020/Early 2021 Pricing | Mid 2022 Pricing | April 2023 Pricing | May 2023 Pricing | September 2023 Pricing | October 2023 Pricing | December 2023 Pricing | July 2024 Pricing | Current Pricing After Tax Credit and Referal |
|---|---|---|---|---|---|---|---|---|---|
| Model 3 Rear-Wheel Drive/Standard Range | $35,000, in-store only | Discontinued | Discontinued | Discontinued | Discontinued | Discontinued | Discontinued | Discontinued | - |
| Model 3 Rear-Wheel Drive/Standard Range+ | $37,990 | $46,990 | $39,990 | $40,240 | $39,740 after $500 referral discount | $38,740 after $250 referral discount | $38,990 | $38,990 | $37,990 |
| Model 3 Rear-Wheel Drive/Long Range | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | $42,490 | $33,990 |
| Model 3 All-Wheel Drive/Long Range | $46,990 | $57,990 | Was unavailable | $47,240 | $46,740 after $500 referral discount | $45,740 after $250 referral discount | $45,990 | $47,990 | $38,990 |
| Model 3 All-Wheel Drive/Performance | $54,990 | $62,990 | $52,990 | $53,240 | $52,740 after $500 referral discount | $50,740 after $250 referral discount | $50,990 | $54,990 | $46,490 |
| Model Y Rear-Wheel Drive/Standard Range | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | $43,740 after $250 referral discount | $43,990 | Discontinued | - |
| Model Y Rear-Wheel Drive/Long Range | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | Was unavailable | $44,990 | $36,490 |
| Model Y All-Wheel Drive/Standard Range | $41,990 | Was unavailable | $46,990 | $47,490 | $47,240 after $500 referral discount | Discontinued | Discontinued | Discontinued | - |
| Model Y All-Wheel Drive/Long Range | $49,990 | $65,990 | $49,990 | $50,490 | $49,990 after $500 referral discount | $48,240 after $250 referral discount | $48,990 | $47.990 | $39,490 |
| Model Y All-Wheel Drive/Performance | $59,990 | $69,990 | $53,990 | $54,490 | $53,990 after $500 referral discount | $52,240 after $250 referral discount | $52,490 | $51,490 | $42,990 |
| Model S All-Wheel Drive/Long Range | $79,990 | $104,990 | $84,990 | $88,490 | $73,990 after $1,000 referral discount | $77,740 after $250 referral discount | $74,990 | $74,990 | $73,990 |
| Model S Plaid | $119,990 | $135,990 | $104,990 | $108,490 | $88,990 after $1,000 referral discount | $89,740 after $1,000 referral discount | $89,990 | $89,990 | $88,990 |
| Model X All-Wheel Drive/Long Range | $89,990 | $120,990 | $94,990 | $98,490 | $78,990 after $1,000 referral discount | $79,740 after $1,000 referral discount | $79,990 | $79,990 | $71,490 |
| Model X Plaid | $119,990 | $138,990 | $104,990 | $108,490 | $88,990 after $1,000 referral discount | $89,740 after $1,000 referral discount | $94,990 | $94,990 | $93,990 |
| Cybertruck Rear-Wheel Drive | - | - | - | - | - | - | - | $60,990 | Ineligible for credit. |
| Cybertruck All-Wheel Drive | - | - | - | - | - | - | - | $79,990 | Ineligible for credit. |
| Cybertruck Cyberbeast | - | - | - | - | - | - | - | $99,990 | Ineligible for credit. |
Hundreds of Teslas have been purchased via DansDeals, how do you like your Tesla?
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65 Comments On "Final Days For Tesla 1.99% APR Financing; NJ Resident Stackable No Tax And $2,000 Discount Ending Soon!"
All opinions expressed below are user generated and the opinions aren’t provided, reviewed or endorsed by any advertiser or DansDeals.
No cybertruck pricing? Seriously though I was just offered to order mine and I can get it as soon as June but I don’t think I want it. If someone is interested they can reach out to me. I assume they can get my email address through this forum.
I love my model 3 AWD long range but I was a sucker who paid top price. I’m interested in the cyber truck how do I get in touch?
[email protected]
Just emailed you!;-)
Cyber truck is so ugly. My 19 year old freaks out every time she sees one or two or three floating around our tech town. Don’t say I didn’t warn you!
Your comment is contradicting itself. Is it ugly or is it cool? Depends on your views. I personally think it’s weird looking but def an attention grabber, the more I see it on the road the more it’s growing on me. The kids love it.
she needs therapy
cybertruck? Hello?
You can lease a 2024 polestar 2 ev for $249 per month. Much better car from a quality and luxury stand point. Tesla will always beat everyone with better tech. But it’s marginal at this point.
Sorry but the refreshed Tesla model 3 has a really nice interior, beats the polestar any day. But quality on the other hand is another sorry …
Polestar interior is basically cloth, even with the Plus package, unless you opt for the Nappa Leather. That was a deal breaker for us since the Nappa wasn’t available at the time, and much more expensive. So this is subjective, but Tesla is actually more luxurious (to me) unless you get the Nappa on the polestar. Polestar 2 drives really nicely. Just as good as the model Y, but different feeling. I think the Polestar is more composed and the Y feels more powerful. The Y has MUCH more room, both interior and storage space.
good luck when your polestar breaks down and new parts or repair, the giving it away for a reason, lease don’t buy IMHO….for those inter
can I mix the 7500 discount for commercial with 2000 (4000) from NJ?
Yes.
Unfortunately I got my 7 seater Y in 12/23 thinking it’d be the last month to get the federal $7500.
So I missed everything.
I missed the $7500 coming off the cost of the monthly payments.
I missed the 1% APY offer.
And now I missed the EV NJ rebate.
Buying a Tesla is so frustrating
Buying any car is all about timing the incentives correctly. Such is life.
Buying a Tesla is much less frustrating than other cars as there’s no negotiating. You just have to work out the timing.
At least the silver lining is I still got a good price overall on the car itself. I paid $48,000 for the seven seater MYLR, and the $7500 will come in the mail.
My neighbor has the same car and he owes more money on it than I do even though he bought it two years before me.
How does one go about getting the NJ rebate for charger installation? Was it maxed out?
https://chargeup.njcleanenergy.com/home-ev-charger-incentive
I don’t see Tesla on that list
Dan, this is just for the charger itself, and Tesla is not approved because they don’t allow information sharing with the utility company.
As of right now, there is no rebate for the installation, but PSE&G in North Jersey will give $1500 towards it (this doesn’t help most of us us in Lakewood because we have JCP&L)
Am I missing something? Of the chargers on that list that I checked, most are $500 and up. Even with a $250 rebate, there are chargers rated at the same amperage that aren’t on that list that are $200. I just got a Polestar 2, I’m doing ok with the 16 amp Level 2 charger I got for $100, I just let it charge over Shabbos and I’m good for the week. I’d certainly go 32 amp if there was an incentive to do so – but even with the rebate, I’m looking at a minimum of $250 for the charger + Electrician’s fees. Please tell me if I’m wrong?
Recently I heard of a company in Lakewood Nj EVIUM that handles everything there is to know and do wh ev charges. Including setting up grants for free home chargers etc. They should be able to help you
Is there a contact number?
Eviumcharging.com
Tel: 917-274-7217
Email: [email protected]
Hi Dan and team- i just have a quick question since i was waiting for this for a while and budgeting for this. I want to lease the model Y. When does Fall 2024 start for the Charge + program?
Is the basic of basic model Y available for the $4,000 rebate?
TBD.
TBD, but I assume so.
Reading the actual guidelines PDF, there’s no mention as to when that part of the program starts.
It’s probably better to wait for 4000 rebate especially since a refresh is coming?
they can always raise the price 2k and then it doesnt matter. its a gamble as is always with tesla
Hi Dan,
It seems the details for the $4,000 are already posted. Seems max income for married is $150k.
https://chargeup.njcleanenergy.com/eligibility-guidelines
If they are trying to be ‘green’ and help the environment… why would the credit be limited to an AGI under $300k? If you make more than that they don’t want to incentivize you? Sounds more like a welfare program for car buyers than their rhetoric about them being for the envirnment.
I love how the moment it became a little means tested it becomes a “welfare program”. It makes perfect sense that lower income people need bigger cash incentives to offset the disproportionate impact a car purchase has on their cash flow. And Above $300,000, the $2,000 means very little to you.
FYI in October NJ starts charging 3.3125% Sales Tax on EV’s.
I’m not seeing this on the Tesla website. I only see the $7,500 credit. Where are you seeing the additional $2,000 NJ credit? Second question, will this be applied to leases too (and disregard income caps)?
The NJ credit link is in the post.
Are you referring to Fed or NJ?
Referring to NJ. When leasing a Tesla, the website reduces the rate by $7,500 for Federal and, last year, did the same with the $1500-4k of NJ credit (depending on price of the car). So my question is, will the current NJ $2k credit be applied to leases?
Any creative approaches to buying/financing the purchase of a new Tesla for those who don’t qualify for the $7500 Fed / $2,000 NJ?
Looks like the M#LR RWD is at lease capacity on the site?
Any thoughts on when like the M3LR RWD will be available for lease?
Meh… polestar much better product. More solid. Not a tin can car with a great computer. Polestar is solid. Cheaper leases in nj with Costco discount. Ends this month.
Is there a way to avoid the $1,390 destination fee?
Does anyone know which sound system the new LR RWD model comes with? Does it come with the 17 speakers that come with long range models or 9 speakers that come with the RWD models?
It’s the 9 speaker system
You’re missing the 1.99% APR offer through August. If you live in NJ and qualify for all the credits you will probably never get a better deal than this week.
When will NJ be eligible for 4k rebate?
There will be sales tax when that happens.
Only in NJ do they figure out how to descentivize their incentives
Is there someone that is able to filter the internet in the Tesla?
I just bought my model Y and haven’t picked it up yet, do you think they’d apply this discount code retroactively?
In the same boat.. appreciate any responses
Dan, Given some of his comments in the past, why would you do anything to promote a company owned by Elon Musk?
Which comments?
Can we get these incentives on the 7 seater model 6
Model Y? Sure, just select the AWD version.
Don’t forget the mention 1.99% financing on
model 3s. I believe it ends at the end of this month.
I would love to get this car but everyone complains to me that Tesla has terrible service. Any issues there’s no one to talk to. Do you think there’s a way around their terrible service? I love these cars but service and parts is a big issue.
I don’t find that to be the case at all. Service messages in the app are answers instantly and all service is done at my house.
It’s Officially $31,990
What Does this price Mean?
$35,013
I am a NJ Resident.
How Can I get rid of these fees?
This is the price breakdown:
$35,013 after est. savings
Referral Included
Include Federal Tax Credit
– $7,500
View Criteria
Include New Jersey EV Incentive
– $2,000
View Criteria
Include Est. Taxes and Fees
– $3,023
Show Details (Destination Fee $1,390
Order Fee $250
Est. Non-Tesla Fees
Registration Amount $1,311
Electronic Reg/Title Filing Fee $12
Title Fee $60
Total Est. Taxes & Fees $3,023)
What’s this registration of $1,311. I went on the Tesla site and didn’t see this charge.
Is it $31,990? or is it more because of extra Fees involved?
Destination Fee. Order Fee. Registration. Title Fee etc.
FYI NJ recently started charging EVs an extra $250 for yearly registration. At purchase they charge $1k extra upfront for a 4 year registration. So that offsets half of the $2K NJ incentive.
It’s actually $1,060 this year. 2024-$250, 2025-$260, 2026-$270, 2027-$280.
Lucky for me I bought the m3 before this new ev tax, at least I’m good till 2027.
Seems that the 1.99% financing has been extended.
Insurance: some companies stopped providing insurance for evs. I found costco’s insurance (who knew they had it) to be the cheapest.
@dan is the business tax credit also point-of-sale?