Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Leasing a SR+ in CA W/ Grants & Incentives

Aero247

Member
Mar 1, 2021
33
17
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
Reactions: Nichigo

RedWhite19

Member
Aug 17, 2020
460
275
Los Angeles
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 (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?
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.
 

Need

Active Member
Nov 22, 2017
2,894
2,206
SoCal
If I’m not mistaken the CVRP is 2k not 4,500.

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

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.
 

miimura

Well-Known Member
Aug 21, 2013
6,161
5,754
Los Altos, CA
On a California lease, the tax is not up front but monthly (or it use to be)
California sales tax is paid with the payment. To the extent that you pay up front, like fronting the rebate as a down payment, you will have to pay the tax. Any cap cost reduction, like passthru federal rebate (for cars that still qualify) also has to pay tax at delivery or the tax will increase the capitalized amount.
 

JimShaw

New Member
Oct 10, 2019
3
0
Menifee, CA
California sales tax is paid with the payment. To the extent that you pay up front, like fronting the rebate as a down payment, you will have to pay the tax. Any cap cost reduction, like passthru federal rebate (for cars that still qualify) also has to pay tax at delivery or the tax will increase the capitalized amount.

As I mentioned, it's paid monthly
 

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top