Yes, as with the purchase of any new vehicle, there are several additional expenses you should account for when purchasing a Tesla. Are there any extra or hidden costs when buying a Tesla? Others offer benefits like EV charger installation rebates, free toll programs, or the use of HOV lanes. Plenty of other states offer similar rebate programs for EV purchasers. Some states offer additional rebates for EV purchasers that can help lower the price even further! The Charge Up New Jersey EV incentive, for example, can help lower the cost of certain Tesla models by $4,000! Model 3s and Model Ys are eligible for the tax credit, so long as additional physical features on the car don’t push the price over the tax credit’s MSRP limits. The biggest incentive for getting an EV is the federal clean vehicle tax credit, which provides up to $7,500 for qualifying vehicles and purchasers. What incentives and rebates are available when you buy a Tesla? Needless to say, the Model S exceeds the MSRP limits for the tax credit, so don’t expect a tax break from the federal government for this EV. This variant has a starting price of $108,490. It can take you from 0 to 60 mph in just 1.99 seconds - making it the quickest mass-market car in existence - and has a high speed of 200 mph. If you’re looking for Tesla’s fastest vehicle, it’s the three-motor Model S Plaid variant. The Tesla Model S is currently available at a starting price of $88,490 for the standard dual-motor variant. The Model S is Tesla’s premium offering, and it comes with the longest range of all the Tesla vehicles. **Only available for the Model Y Long Range Tesla Model S price *Not available for the Model Y Performance ![]() The following table outlines the customization options available for all of the Model 3 trims: If you get all of the most expensive add-ons, the standard Model 3 will cost $59,740, the Model 3 Long Range will cost $66,740, and the Performance will cost $71,240. Tesla gives you the ability to customize your Model 3, which can increase how much you spend. The most expensive Model 3 is the Performance model, which costs a minimum of $53,240. The Model 3 Long Range is a tad more expensive at $47,240. The base rear-wheel drive (RWD) trim has an official starting price of $40,240. The 2023 Tesla Model 3 is the cheapest Tesla car currently offered. The Model 3 Performance, on the other hand, would be disqualified. This means that the standard Model 3 would still qualify for the tax credit, even with all the bells and whistles. ![]() But according to Tesla’s website, software add-ons like Enhanced Autopilot and Full Self Driving are excluded. But be mindful of price caps! Your Model 3 cannot exceed $55,000, and your Model Y can’t exceed $80,000. ![]() All new Model 3 and Model Y base models are eligible for the full $7,500 federal clean vehicle tax credit.
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