As the year draws to a close, there are many things to keep in mind: resolutions for the following year, a plan to dispose of the Christmas tree sometime before St. Patrick’s Day, tax itemizations, and Tesla’s end-of-year discounts. Yes, Tesla’s end-of-year deals are back in full swing, and they’re quite hefty on specific variants: anywhere from $2,760 to $5,100 off Model 3 and Ys.
It’s no secret that Tesla employs its most significant incentives at the end of quarters to boost sales figures. For the past several quarters, the Texas-based automaker has been incentivizing purchases through free Supercharging miles, purchase referrals, and straight-up reductions on the vehicles’ purchase prices. So far this December, Tesla has offered several thousand dollar discounts on its inventory Model 3 and Ys and six months of free Supercharging.
Interestingly, thus far this December, there haven’t been any notable deals on the more premium Model S and X. While some demo models are floating around, there are no discounts on new inventory ones. Moreover, no free Supercharging is available on the S and X, despite Tesla offering three free years in purchases made from April to June. If you’re craving a deal, skipping the X and S is best.
Before commencing these offerings, it’s important to note that not every region will have the same discounts. Many factors likely go into these pricing schematics, including regional inventory, customer demand, and more. In other words, your local Tesla retail location may or may not have similar discounts to what’s listed here.
If you’re considering a Tesla, it might be a decent idea to play around with other zip codes in case there’s a better deal a little further away from your place of residence. Without further adieu, here are some of Tesla’s best end-of-year deals:
Tesla Model 3
The Tesla Model 3 lineup is subject to some of Tesla’s steepest discounts yet. The Model 3 RWD and Performance are seeing the greatest reductions, with up to 10% off MSRP for inventory models. Meanwhile, the middle child Long Range variant is seeing 9% off sticker at specific retail locations.
The rear-wheel-drive variant is as low as $36,730: $35,090 for the car itself, $250 for the non-refundable order fee, and $1,390 for destination. The Long Range can be found for $43,490, or $41,850 for the sedan, plus Tesla’s mandatory purchasing fees. Arguably the most impressive discount is reserved for the lightning-quick Performance version. With up to $5,100 off its price, lucky buyers can find the Performance 3 for $47,530 all in.
The effective price can be reduced when considering the $7,500 federal tax credit, which will vanish for RWD and Long Range trims in 2024. The Model 3 RWD is the least expensive, coming in at just $29,230, considering the federal tax credit. With discounts, the Long Range runs a $6,760 premium over the RWD, effectively costing $35,990. Finally, the Performance 3 can be as low as $40,030, the cheapest the sporty sedan has ever been.
Tesla Model Y
The discounts on the Model Y aren’t quite as impressive, though they’re still well within the $3,000 range, depending on trim and purchasing location. The single-motor Model Y can be found for just $42,630 all in. The Dual Motors are a little more pricey, with the lowest-priced examples going for $47,200. The top-end Performance variant comes in at $50,460, considering all additional fees. With the tax credit, the prices can be as low as $35,130, $39,700, and $42,960.
The only time in Tesla’s history when Model Y prices were this low was back in early 2021 with the launch of the Standard Range variant. That cost $41,440 at the time and did not qualify for the $7,500 tax credit. While a little slower, the new Model Y RWD offers more range and can cost up to $6,310 less with the federal incentive. If you need a sign that EV prices are heading in the right direction, look no further.
Is Now The Time To Buy?
It’s vital to note that the tax credit in its current form is only accessible to buyers in the following tax season. Moreover, buyers must consider their income and tax burdens before making a decision. Next year, the tax credits will be available at the time of purchase, though the certainty of some Tesla models qualifying is still up for speculation.
At the end of last year, the Tesla Model 3 and Y cost a respective $48,440 and $67,440 (Long Range). However, the Texas-based automaker began incentivizing last-minute purchases with a $7,500 discount on the sedan and crossover. On top of that, Tesla included 10,000 free Supercharging miles with a two-year expiration date. While no free Supercharging this year, the Model 3 and Y are far more affordable, especially considering the tax credit.
If you’re looking at a new Tesla, would you buy a discounted Model 3 or Y now, or would you want to wait for the point-of-sale credit next year? Let us know in the comments.