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Nifty tool for calculating your monthly Model 3 payments

ModelNforNerd

Active Member
Apr 17, 2015
4,095
3,917
Norway, ME
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?



"possession is 9/10ths of the law"

in this case, 10/10ths. You need to have the vehicle. You can't let Tesla hold your money and claim the tax credit.
 

ModelNforNerd

Active Member
Apr 17, 2015
4,095
3,917
Norway, ME
IIRC, IRS wants you to put the car to use, before you can claim tax credit.



right, and you can't do that until you have it. "possession" of a vehicle usually means insured (where required) and registered in your name. so no....you can't claim the tax credit while the car is still just a VIN in the system, or while it's in transit.
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
Thanks for the feedback. You guys are probably right - its a pity the credit could not be structured to be applied at purchase. It would definitely improve EV demand if it was
 

Ssssly

Member
Feb 21, 2014
123
15
Orlando
Another option to consider is Trade Ins and how they impact sales tax.

In many states if you trade in a car, that value is deducted from the sale and hence, reduces the sales tax owed.

I'd also suggest a subtotal of the sales price of the car all in before Sales tax and other items are calculated.
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
Just added the sub-total for "Car Price" exclusive of fees and taxes.

Interesting side note: even when maxing out all the options the total prices is $59,500 .... which is eeerily close to the $60,000 incentive cap we see in so many states .... mmm... coincidence??
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
I've updated tool to support "trade in value" (thanks @Ssssly !). Turns out this is definitely a common scenario as most of us model 3 reservation holders already own cars (mostly ICE vehicles) that we will be trading in once we get our model 3's. The update also integrates trade-in sales tax credit for all the states that support it, and excludes the 8 states that don't.

Let me know if there are any other updates i need to make to ensure it fully meets the majority of model 3 purchasing scenarios :)
 
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Reactions: tony b

EVNow

Well-Known Member
Sep 5, 2009
9,569
28,329
Seattle, WA
Cool. BTW, doesn't work in IE.

With 1$ for paint, $2.5k down, 2% loan gives me $400 a month. That is twice my Volt's lease. But only 2 days of child care ;)
 

Khan3

Member
Apr 1, 2016
103
115
Dallas
Thanks @slade037 , encouraging that others find this useful besides myself. @tony b , i want to be like you when i grow up :)
@EVNow , thats pretty expensive child care :( ... However i'd expect that the Model 3 lease would be a similar payment. I the lease calculation you are not paying off the full value of the car so its definitely cheaper. I'll update with a lease option once Tesla releases any such detail. And you are indeed correct ... my page is not working on IE which is a large segment of users ... i'm going to fix ASAP
 

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