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Nifty tool for calculating your monthly Model 3 payments

Discussion in 'Model 3' started by Khan3, Aug 23, 2017.

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  1. Khan3

    Khan3 Member

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    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
     
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    • Helpful x 1
  2. C141medic

    C141medic Member

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    Looks great. Thanks. Is the total finance price (for NJ) inclusive of the federal credit?
     
  3. Khan3

    Khan3 Member

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    NJ 'credit' is Sales Tax exemption ... so if you notice Sales tax is zero. So all you get is the Federal $7500
     
  4. Khan3

    Khan3 Member

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    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
     
  5. Automaton

    Automaton Member

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    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.
     
  6. C141medic

    C141medic Member

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    That was my point. It looks like the loan calculations deduct for the federal credit.
     
  7. Khan3

    Khan3 Member

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    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.
     
    • Like x 1
  8. Khan3

    Khan3 Member

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    Thanks for the feedback. I've fixed it now.
     
  9. Khan3

    Khan3 Member

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    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.
     
  10. WileyTheMan

    WileyTheMan Member

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    Nifty tool indeed. Great job.
     
  11. WileyTheMan

    WileyTheMan Member

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    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?
     
  12. Khan3

    Khan3 Member

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    google refinance auto loan ... its pretty standard
     
  13. Mom of 3

    Mom of 3 Member

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    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.
     
  14. FullThrottleDv

    FullThrottleDv New Member

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    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...
     
  15. PRSIST

    PRSIST Member

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

    SageBrush Active Member

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    Well done!

    PUP ?
     
  17. WileyTheMan

    WileyTheMan Member

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    Fair enough. Learn something new every day.
     
  18. Khan3

    Khan3 Member

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    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 :)
     
  19. C141medic

    C141medic Member

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    Puppies, Premium Upgrade Package?:p
     
  20. chronopc

    chronopc Member

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

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