Tesla Model 3 Announcement: $35k Model 3 Available, some price changes

[ohmman]

I paid $120k for my Model S. It's approaching 5 years old at this point and is worth about $45k. Most of you can bask in the fact that even if your cars become worthless in 5 years, you'll have less depreciation than me.

Enjoy the car, enjoy the drive. Be happy you got the deal you wanted when you bought it. That's the best advice I can give.

 

[vjason]

Elon said on Twitter (look at replies) they will figure out the upgrade path for EAP to FSD within the next few days and send out a note.

Ultimately post-purchase AP+FSD is $11,000, whereas it was as cheap as $10,500 before if you bought EAP after the trial then bought FSD. The cost to add on at the time of purchase is unchanged at $8K.

All I know is that if they temporarily offered EAP owners FSD for $3K I'd buy it tomorrow. If they just say it will continue to be available to EAP owners for $5K I'll wait.

 

[Glamisduner]

Now add the 3750 tax credit difference.

Sure for him it's not bad.

$78,000 car now costs $64000 subtract $3750 and your still at a $10,250 depreciation due to price drops over a few months. Even if you subtract $5k refund it's still allot. Devaluation on price drops faster than you can pay it off.

 

[happyzod]

Yes but when takes are thrown in it’s even more of a difference. The value of our cars has diminished greatly. I paid $60,000 for mine (after tax credit and including interest charges). You can now get the same car for like $50,000 after credits, tax differences, and interest charges with a similar loan. Can I even get $50,000 for my $60,000 car now? Probably not even close. It’s 6 months old with 3000 miles and has lost a TON of value. Values will depreciate faster than normal cars.

I think you are exaggerating here or you are confused. There is not a 10K difference. The largest difference is ~2250 (not counting performance which got a 5k refund).

 

[ChrisH]

I paid $120k for my Model S. It's approaching 5 years old at this point and is worth about $45k. Most of you can bask in the fact that even if your cars become worthless in 5 years, you'll have less depreciation than me.

Enjoy the car, enjoy the drive. Be happy you got the deal you wanted when you bought it. That's the best advice I can give.

Sucks knowing that if I would have waited 6 more months I could get an AWD with white interior for less than a RWD black interior.

There’s no way we could have known that with the lack of communication or actual uncertainty Tesla has themselves. They probably made the decision to do this less than two weeks ago. I’m somewhat shocked by the 2-4 week availability.

 

[happyzod]

Sure for him it's not bad.

$78,000 car now costs $64000 subtract $3750 and your still at a $10,250 depreciation due to price drops over a few months.

Don't know where you got that number. I also have a P3D-. I did not reach a $10,250 difference when I calculated it. It was $2000. I don't know where you got your numbers. Did you not opt for the 5K refund?

 

[ChrisH]

I think you are exaggerating here or you are confused. There is not a 10K difference. The largest difference is ~2250 (not counting performance which got a 5k refund).

You are not figuring in sales tax and interest rate differences on a $56,700 car that i bought vs a $48,700 car that is the same configuration as mine today.


With sales tax, trade in, tax credit and everything considered, I will pay $60,2xx out of pocket for this car (RWD, black interior, Aero, EAP) I could buy the same car today and likely pay about $55,000 max.

Edit: just did the math:

Would be about $53,500 after sales tax, interest, tax credit, and everything else considered. $130/mo difference on the loan. Ridiculous.

 

[happyzod]

You are not figuring in sales tax and interest rate differences on a $56,700 car that i bought vs a $48,700 car that is the same configuration as mine today.

I'm not sure about the sales tax situation you have. Each state is different. I don't know how you arrived at 56700 vs 48700. Post your config and we can work out the numbers. I'm sure you missed something somewhere.

As for interest rate differences, in the end it really doesn't matter if you got a low rate. You can put the difference in money in a CD and get the interest back if you want.

 

[CyberShy]

I cant agree more. 1000 likes.

 

[bryanbruin]

The issue is how quickly these models are "depreciating." Tesla doesn't owe us anything. And Tesla has every right to lower prices. But, for some of us, it comes at a cost: future purchase hesitation. No, we aren't leaving Tesla and they aren't losing us as customers. But these decisions by Tesla do have a cost. Maybe it's worth it to them and maybe they are right. And maybe they are wrong. Again, my position has been pretty moderate, despite the extreme attacks / positions on the other side. I'm not saying that Tesla is wrong. Instead, I'm saying that as a rational customer, I'm a little disappointed. Are customers not allowed to voice concerns without other suggesting they are whining or that they need to leave the brand? Especially when I've gone out of my way to say that I love the car, that I'm not leaving the brand, and that I don't feel entitled to anything. Seems like the ones overreacting are those attacking people calmly voicing concerns. I hope some of you are NOT in customer service wherever you may work. And please stop pretending you think we don't understand that prices drop, things depreciate, etc.

 

[Glamisduner]

Don't know where you got that number. I also have a P3D-. I did not reach a $10,250 difference when I calculated it. It was $2000. I don't know where you got your numbers. Did you not opt for the 5K refund?

How did you get $2000 difference?
My car was $7300k pup was $5k option = $78,000. This includes AP, but not FSD

You could subtract $5k for your free supercharging. Even so the difference is over $5k Especially considering you paid taxes (and extra insurance) on a $7800k car vs a $64,000k car.

 

[niray9]

Now add the 3750 tax credit difference.

Ordered in Jan, took delivery in Feb(so tax credit was 3750). People buying today will also get $3750 tax credit.

Price down $4k in one month. Terrible.

Please support the following Tweet: NRay on Twitter

 

[ohmman]

mod note: Sorry, but there are a lot of threads popping up with the same conversations. I'm trying to merge them down, which can create a little bit of confusion with interspersed posts. I've updated the title so that new threads don't get created.

Thanks for understanding.

 

[Lifeinabox]

Honeycrisp to gala apples comparison for someone who bought end of last year (not including sales tax or destination/doc fees):

Dec '18 P3D Blue with white interior + EAP - $71,500 - $7,500 = $64,000
Feb '19 P3D Blue with white interior + AP - $63,500 - $3,750 = $59,750

The "E" worth $4,250?

 

[ChrisH]

I'm not sure about the sales tax situation you have. Each state is different. I don't know how you arrived at 56700 vs 48700. Post your config and we can work out the numbers. I'm sure you missed something somewhere.

As for interest rate differences, in the end it really doesn't matter if you got a low rate. You can put the difference in money in a CD and get the interest back if you want.

LR RWD, MSM, EAP, Aeros was $55,500 plus $1200 doc/delivery fee when I bought in August. So $56,700.

Trade in was $5500. I lowered this value to $5000 for the new calculation as the trade in would likely lose value over the last six months.

56700 minus 5500 is $51,200. Sales tax is 10.3% here. Brings it back up to $56473 plus $510 registration. Essentially $57,000. I paid an additional 10k down (including the $3500 deposits) and financed the rest.

I got 3.59% APR.

Today it would be $48700 minus 5000 trade in plus sales tax and registration is about back to $48,700. $10,000 more down means I finance $38,700. I’d probably get about the same rate. $46,600 financed versus $38,700 is going to have differences in interest charges as well.

Is that a clear enough example or no?

Tax credit differences mean at BEST it is $4150 cheaper now. I’m sure with the interest charges between the two loans it’s closer to $5,000 or more less.

Also, it’s my own fault I don’t drive a ton to get more gas savings but I’m just crossing 3,000 miles at 6 months so my savings there hasn’t been huge. And that is a moot point when you are talking about comparing the price of the same configuration now vs then lol

I guess I will throw in the $2,000 bonus for the extra EAP features that standard EAP no longer gets. Still a big difference.

 

[happyzod]

How did you get $2000 difference?
My car was $7300k pup was $5k option = $78,000. This includes AP, but not FSD

You could subtract $5k for your free supercharging. Even so the difference is over $5k Especially considering you paid taxes on a $7800k car vs a $64,000k car.

I'll just include my config

$64,000 - Model 3 Performance (NO PUP) -
$5000 - EAP (With NOA,Summon,AutoPark)
$3000 - FSD
$-5000 - 5k Refund
$-3750 - Tax Credit Difference
Total Cost = $63,250

Configured in Tesla's Website
$64,000 - Model 3 Performance (WITH PUP) -
$3000 - AP (Autosteer and ACC)
$5000 - FSD
$-5000 - Remove PUP Option
Total Cost = $61,000

Difference of $2250. Realize that EAP is different from the new Autopilot, EAP has more features.

Now I will calculate the tax difference assuming 6% sales tax.

[$72000 (Old Config) - 61000(New Config minus PUP)] *.06 = $660.

So the difference after factoring sales tax is $2910.

 

[realvvk]

No solid metal roof :-( I thought that was the plan for the base model. Sigh.

 

[ebmcs03]

I'll just include my config

$64,000 - Model 3 Performance (NO PUP) -
$5000 - EAP (With NOA,Summon,AutoPark)
$3000 - FSD
$-5000 - 5k Refund
$-3750 - Tax Credit Difference
Total Cost = $63,250

Configured in Tesla's Website
$64,000 - Model 3 Performance (NO PUP) -
$3000 - AP (Autosteer and ACC)
$5000 - FSD
$-5000 - Remove PUP Option
Total Cost = $61,000

Difference of $2250. Realize that EAP is different from the new Autopilot, EAP has more features.

Now I will calculate the tax difference assuming 6% sales tax.

[$72000 (Old Config) - 61000(New Config minus PUP)] *.06 = $660.

So the difference after factoring sales tax is $2910.

I’ll include mine.
Old config: $49,000
EAP: $5000
MSM: $1000
Tax Credit: -$7500
Total: $47,500

Today: $43,000
AP: $3000
MSM: $1500
Tax Credit: -$3750
Total: $43,750

I lost $3750. And the NoA and summons is not worth $3750.

Not to mention I had to pay taxes on that $3750 and forever increased license and registration on a $55k car vs a $47,500 car.

 

[Msjulie]

For my Stealth Performance 3, after the 5k refund, today's price for the Performance is nearly the same as my eventual price but it is true the current Performance gets big brakes and blow-out prone (around here it seems) 20" performance tires vs what I have. But it's also true I got the full $7500 tax credit so there's that.

Everything depreciates and prices drop when it's no longer the newest rarest shiny object.

Wonder how long till the 5% more power shows up and if I'll notice it...

Regardless, the car is great and I've loved driving it since last August and paying $0 for gas!

 

[happyzod]

LR RWD, MSM, EAP, Aeros was $55,500 plus $1200 doc/delivery fee when I bought in August. So $56,700.

Trade in was $5500. I lowered this value to $5000 for the new calculation as the trade in would likely lose value over the last six months.

56700 minus 5500 is $51,200. Sales tax is 10.3% here. Brings it back up to $56473 plus $510 registration. Essentially $57,000. I paid an additional 10k down (including the $3500 deposits) and financed the rest.

I got 3.59% APR.

Today it would be $48700 minus 5000 trade in plus sales tax and registration is about back to $48,700. $10,000 more down means I finance $38,700. I’d probably get about the same rate. $46,600 financed versus $38,700 is going to have differences in interest charges as well.

Is that a clear enough example or no?

Tax credit differences mean at BEST it is $4150 cheaper now. I’m sure with the interest charges between the two loans it’s closer to $5,000 or more less.

Also, it’s my own fault I don’t drive a ton to get more gas savings but I’m just crossing 3,000 miles at 6 months so my savings there hasn’t been huge. And that is a moot point when you are talking about comparing the price of the same configuration now vs then lol

I guess I will throw in the $2,000 bonus for the extra EAP features that standard EAP no longer gets. Still a big difference.

That was a lot to take in, but what you are essentially saying is that there is a 10.3% sales tax hit in addition to the price difference. Let's calculate the sales tax difference. We'll get to the interest later.

It is ($56,700 - $48,700) * .103 = $824 in extra sales tax. You already understand the $2k difference between EAP and regular AP. You also understand the $3750 tax credit. So the real difference between your config and the new config is $3074. Not an insignificant amount, I agree but I would use the real number instead of an inflated number.

Now what about the interest charges? That gets tricky because of inflation and also because you can always put the difference in a CD. I can go into detail on the math if you like but the difference is probably on the order of .5% on 10K over 5 years or $250. So $3324. difference. Again not an insignificant amount, but I would try to use real numbers instead of inflated numbers here. It helps you make your point better.