Nifty tool for calculating your monthly Model 3 payments

[Khan3]

I've been trying to wrap my head around what the monthly costs will be for my Model 3 as I figure out what options I will configure for the car and needed a quick easy interactive way to play with the options and financing costs (including down payments, interest rates, sales taxes ... even state credits/rebates).

I also wanted to know the impact of the timing of the purchase as the federal credit phases out the longer you wait/queued to get yours.

i built a page the encapsulates all the logic and made it public for any one to play with below. respond with any feedback and i can fix anything that doesn't look right. Take a look

model3guru . com

 

[C141medic]

I've been trying to wrap my head around what the monthly costs will be for my Model 3 as I figure out what options I will configure for the car and needed a quick easy interactive way to play with the options and financing costs (including down payments, interest rates, sales taxes ... even state credits/rebates).

I also wanted to know the impact of the timing of the purchase as the federal credit phases out the longer you wait/queued to get yours.

i built a page the encapsulates all the logic and made it public for any one to play with below. respond with any feedback and i can fix anything that doesn't look right. Take a look

model3guru . com

Looks great. Thanks. Is the total finance price (for NJ) inclusive of the federal credit?

 

[Khan3]

NJ 'credit' is Sales Tax exemption ... so if you notice Sales tax is zero. So all you get is the Federal $7500

 

[Khan3]

Tesla has a good summary here:
Incentives

However NY is wrong (kinda) ... its $500 for any vehicle above $60k .... but for Model 3 you will get full $2000 ... unless you have a super duper model 3 with all the options

 

[Automaton]

It looks like your tool is subtracting tax credits from the price of the car as if they are instant rebates. Is that the case? Because you don't get any tax credits or rebates until months after you purchase your car. They should not be part of the calculation.

 

[C141medic]

It looks like your tool is subtracting tax credits from the price of the car as if they are instant rebates. Is that the case? Because you don't get any tax credits or rebates until months after you purchase your car. They should not be part of the calculation.

That was my point. It looks like the loan calculations deduct for the federal credit.

 

[Khan3]

You guys are right. Federal and State credits come after filing taxes and should not be included (tesla's calc pages threw me off as they are always 'including' the rebates directly). I'm updating it now.

 

[Khan3]

Thanks for the feedback. I've fixed it now.

 

[Khan3]

Based on how the Federal/State credits work out, seems an obvious option is to refinance car soon after getting your tax refunds in march/april ... get a better (smaller) loan and monthly payment ... save all that interest cost.

 

[WileyTheMan]

Nifty tool indeed. Great job.

 

[WileyTheMan]

Based on how the Federal/State credits work out, seems an obvious option is to refinance car soon after getting your tax refunds in march/april ... get a better (smaller) loan and monthly payment ... save all that interest cost.

Wait, you can refi a car loan? What lender in their right mind would do that for an item that depreciates on a daily basis?

 

[Khan3]

google refinance auto loan ... its pretty standard

 

[Mom of 3]

Where's the PUP? Also for the financing it would be nice to see the amount financed.
Replying to above re: refi, perhaps it would be better to reduce your withholding in the year getting the car, save it, and use it as downpay instead so you avoid any refi costs.

 

[FullThrottleDv]

1) Oregon recently passed a measure similar to California, giving a 2,500 rebates (not tax credits) for EV purchases.
2) You should also allow the selection of the Premium package to be figured into the calculation for 5,000...

 

[PRSIST]

I've been trying to wrap my head around what the monthly costs will be for my Model 3 as I figure out what options I will configure for the car and needed a quick easy interactive way to play with the options and financing costs (including down payments, interest rates, sales taxes ... even state credits/rebates).

I also wanted to know the impact of the timing of the purchase as the federal credit phases out the longer you wait/queued to get yours.

i built a page the encapsulates all the logic and made it public for any one to play with below. respond with any feedback and i can fix anything that doesn't look right. Take a look

model3guru . com

Been saving for three years and plan to pay cash!!! First time ever.

 

[SageBrush]

Well done!

PUP ?

 

[WileyTheMan]

google refinance auto loan ... its pretty standard

Fair enough. Learn something new every day.

 

[Khan3]

Thanks for all the awesome feedback. I'm make the required changes now (especially to include the premium seating option) and the various feedback on state incentives. Will also show financed amount. Googled PUP but couldn't figure it out so anyone who knows what it means should enlighten me

 

[C141medic]

Thanks for all the awesome feedback. I'm make the required changes now (especially to include the premium seating option) and the various feedback on state incentives. Will also show financed amount. Googled PUP but couldn't figure it out so anyone who knows what it means should enlighten me

Puppies, Premium Upgrade Package?

 

[chronopc]

What's the minimum that Tesla requires you to deposit for financing?