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Tax incentive for Model 3.

Discussion in 'Model 3' started by rrobin36, Apr 8, 2016.

  1. rrobin36

    rrobin36 Member

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    This may sound like a dumb question and it may have already been answered, but the Model 3 will be the first brand new car I have ever bought (yay!). I plan on leasing the car to buy. I am aware of the mile limit and fees associated with going over the mile limit when it comes leasing a vehicle (I've done a little research). My real question is the tax incentive, granted my reservation falls within the 200,000 vehicle limit, do they take the $7,500 dollars right off the top for a lease? Any Model S owners have any insight on this? I am hoping I can have my monthly payments after a deposit and possibly the incentive be around $380-$400. Any thoughts would be greatly appreciated for this soon to be new Tesla owner :)
     
  2. ggnykk

    ggnykk Active Member

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    I believe there are extensive discussion on this in the "Model S" section of the forum. Just search the thread, right upper corner icon.

    And yes, the 7500 rebate will make you pay less in lease payment per month.
     
  3. omarsultan

    omarsultan Active Member

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    Generally yes, but pay attention to the paperwork if you do not lease through Tesla, and make sure they are applying the credit as capital reduction. There was one manufacturer, I think is was BMW with the i3 leases, that was essentially pocketing the $7,500.
     
  4. rrobin36

    rrobin36 Member

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    Thank you guys. Yes, I plan to go directly through Tesla for the lease of the vehicle, as that appears to be the most recommended. If somehow I change my mind I'll be sure to read all the paperwork. Thanks for heads up!
     
  5. MP3Mike

    MP3Mike Active Member

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    Yes, asked and answered a few times...

    The way the current Model S lease works the $7,500 gets added to the residual which lowers your monthly payment, but if you keep the car at the end you have to pay it. (The leasing partner keeps the credit, you don't get it.)
     
  6. rrobin36

    rrobin36 Member

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    Thanks for the info. Would it benefit to save up more cash at the time the lease ends and apply that towards purchase amount?
     
  7. MP3Mike

    MP3Mike Active Member

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    No. The lease, as currently done by the Tesla partner, is not good if you want to keep the car. It is just fine if you are going to turn it in at the end of the lease.
     
  8. rrobin36

    rrobin36 Member

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    Thanks all. Looks like I'll be purchasing instead of leasing :)
     

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