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Nifty tool for calculating your monthly Model 3 payments

Khan3

Member
Apr 1, 2016
103
115
Dallas
I've pushed the changes to include option PUP .... Premium Upgrade package ... (thanks c141medic!)
Researching some of the state incentive changes to be sure, and I'll update those shortly.

@chronopc ... you can finance with your bank or whoever you can get auto loans from. Tesla does not do the loans themselves - though they may have some banks they have agreements with to funnel financing customers over to.
 

chronopc

Active Member
Jul 8, 2017
2,873
2,720
California
I've pushed the changes to include option PUP .... Premium Upgrade package ... (thanks c141medic!)
Researching some of the state incentive changes to be sure, and I'll update those shortly.

@chronopc ... you can finance with your bank or whoever you can get auto loans from. Tesla does not do the loans themselves - though they may have some banks they have agreements with to funnel financing customers over to.
I thought they have some financing options since their website has an estimated APR rate?
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
would be useful if some model S or X owners who did financing could chime in and give us the details of how the financing works with tesla?
 

PoitNarf

My dog's breath smells like dog food
Jun 7, 2016
2,870
4,007
NJ
Your tool is missing the destination and doc fee of $1000. I'm also not sure if you're factoring in the $1000 already paid for placing the reservation (although I guess that kind of cancels out with the destination and doc fee). However, I'm pretty sure you also need to subtract the $2500 payment when you change your reservation to an actual order when you configure your car. My understanding is that $2500 payment to secure your order gets put on a credit card and would not be lumped in with your monthly payment if you went with a loan.
 
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PoitNarf

My dog's breath smells like dog food
Jun 7, 2016
2,870
4,007
NJ
Yep, I just double checked the screenshots of the online configurator tool: Online configurator preview

The $2500 order deposit is placed on a credit card, so if you're doing a loan that's $2500 that will not be on the balance for your loan payment. So that's a total of $3500 charged on a credit card for the reservation and order deposit.
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
ok ... made all the changes requested above and also those i got from submissions on the page. Thanks everyone for helping making this better. Hopefully it'll help us figure out our financing before we actual get our hands on the steering wheel .... last thing i'll be thinking of then will be financing ... lol
 

ModelNforNerd

Active Member
Apr 17, 2015
4,096
3,917
Norway, ME
MA will need some updating.

Basically, if your sticker value is over $60,000 you get a $1,000 rebate (which is why S and X are listed that way).

Tesla has not yet filed with MA to make the Model 3 eligible for the program, but when they do, it's possible they will file so that the Model 3 is eligible for $2,500 rebate ( < $60,000 sticker price).

So if you're in MA....don't check all of the boxes if you want the full rebate. For me.....not buying FSD up front is now a no-brainer.

I'll (hopefully) get $1,500 more in rebate money, which, when coupled with the $3,000 for FSD, you can put into an interest-bearing account, and come out ahead when Tesla charges you $4,000 to turn on FSD later on.
 

SageBrush

REJECT Fascism
May 7, 2015
12,334
15,242
New Mexico
@ Khan3 ,

What programming tools did you use for this website ? I like it :)

Well, except for one annoyance that probably has more to do with the web: as the window is widened the drop down fields get wider to fill the page space. I think it would look better if the field widths were constant and white space filled up a wide window.
 
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Gtosnipey

Member
Apr 10, 2016
89
61
Las Vegas, Nv
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

Thanks for this! I made an entire tab in Excel for doing precisely this, changing the payment value etc with different features added or removed, and I ran the numbers on yours and they came to the same figure to the dollar! :) So at least I got to check my math, but this is a great tool for anyone who didn't have a ton of time to waste one Monday dilly-dallying around in excel haha.
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
updated RI state incentive since rebate is now expired. also updates to reflect $32k exemption from sales tax for WA (thanks anonymous responder)
 

DarthPierce

Member
Jun 29, 2016
235
336
Boulder, CO
Shhhh.... keep the WA sales tax thing quiet!! The sales tax exemption expires once 7,500 qualifying vehicles have been sold after June 15, 2015 or July 1, 2019, whichever comes first.

I'm worried there are at least 2k leafs and prius primes and such eating into this only leaving ~5k for model 3... I'm worried about qualifying if I don't get first production.
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
One question that I got about the Federal Tax credit that i'm not sure off - any information is welcome : Earliest 220-range model 3's are to be delivered Jan-Mar 2018. That means customers will probably have to complete the configuration and payment in 2017. Besides the required $2500 ... are customers able to make the full payment to enable them get their tax credits on their 2017 taxes soon after in mar/april instead of waiting another 15 months? Or are you only able to pay after car is manufactured and ready for delivery?
 

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