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Leasing a SR+ in CA W/ Grants & Incentives

Discussion in 'California' started by Aero247, Mar 1, 2021 at 8:14 PM.

  1. Aero247

    Aero247 New Member

    Joined:
    Monday
    Messages:
    2
    Location:
    Fresno
    I'm new to the Tesla and EV world and have my eye on a Tesla Model 3 SR+. I'm doing my best over here to understand basic leasing costs but running into issues as my situation is probably a little more unique than a typical lease. I'm trying to find out what the TOTAL cost will be to lease a SR+, 10K miles a year with white exterior, black interior, standard wheels and no self driving in California with a tax rate of 7.95%. I really wish Tesla let you see the full lease cost details before you pay the $100 non-refundable deposit.

    The best that I could come up, based on different online calculators is this:
    $354 a month x 36
    = $12,744
    +$5,000 down payment
    = $17,744
    +$454 in up front tax (7.95%)
    = $18,199
    + $538 California license, title, registration fees
    = $18,736
    + 695 acquisition fee
    =$19,431 grand total over three years

    Is this math even remotely right or did I double count anything? IF that math above is correct then I'm look at a very cheap lease thanks to:

    $19,431 grand total
    -$1,500 California Fuel Reward (Done at time of lease)
    = $17,931
    -$5,000 for Clean Vehicle Assistance Program Grant (Done at time of lease)
    =$12,931
    -$4,500 for California Clean Vehicle Rebate (including an increased rebate, done after sale)
    =$8,431
    -$4,088 trade in (as estimated today)
    =$4,343 out of pocket costs or $120 a month.

    Am I doing anything wrong or, God help us, right when it comes to the math above?
     
    • Like x 1
  2. RedWhite19

    RedWhite19 Member

    Joined:
    Aug 17, 2020
    Messages:
    322
    Location:
    Los Angeles
    If I’m not mistaken the CVRP is 2k not 4,500.

    15F7B43E-EBDB-4060-B6A3-184E73F08777.png

    As for the 5k grant, I believe it is for low-income applicants.
     
  3. Need

    Need Active Member

    Joined:
    Nov 22, 2017
    Messages:
    2,863
    Location:
    SoCal
    Low/Mid income also qualified for increase CVRP rebate up to $4500 max. Also not specified in the post, OP probably belongs to that group.
     
  4. Aero247

    Aero247 New Member

    Joined:
    Monday
    Messages:
    2
    Location:
    Fresno
    This is correct, I qualify for $4,500.
     

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