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Total cost of Model 3 w/ taxes

JoeCoolMan24

Member
Apr 3, 2016
153
163
Northwest Indiana
I'm sure this has been asked and answered before, but just thinking about how much my monthly payments might be, I'm doing some calculations online.

But I'm wondering what the final fees and whatnot are when all is said and done for my loan at the bank.

Here is what I expect my config to be....

$35,000 - Short Range battery
$5,000 - Premium Upgrades
$5,000 - Enhanced AP
$1,000 - Paint choice
$1,000 - Destination/Doc fees
------------
$47,000 TOTAL
------------
-$2500 due at purchase
-$1000 reservation deposit
------------
$43,500 cost
x 7% Indiana sales tax
------------
$46,545 TOTAL after tax


Does this look right? I know there will be other costs for registration and whatnot, but I am talking about for the costs that I will need to take a loan out for, this would it, correct? I am pushing myself to have $30K to put down as a downpayment, so my loan amount would be for $16,545 (+ interest rate of course).

Look right? Am I forgetting or miscalculating something?
 

tracksyde

Member
Nov 7, 2013
517
1,260
So Cal
I'm sure this has been asked and answered before, but just thinking about how much my monthly payments might be, I'm doing some calculations online.

But I'm wondering what the final fees and whatnot are when all is said and done for my loan at the bank.

Here is what I expect my config to be....

$35,000 - Short Range battery
$5,000 - Premium Upgrades
$5,000 - Enhanced AP
$1,000 - Paint choice
$1,000 - Destination/Doc fees
------------
$47,000 TOTAL
------------
-$2500 due at purchase
-$1000 reservation deposit
------------
$43,500 cost
x 7% Indiana sales tax
------------
$46,545 TOTAL after tax


Does this look right? I know there will be other costs for registration and whatnot, but I am talking about for the costs that I will need to take a loan out for, this would it, correct? I am pushing myself to have $30K to put down as a downpayment, so my loan amount would be for $16,545 (+ interest rate of course).

Look right? Am I forgetting or miscalculating something?

You should be paying 7% sales tax on the total cost of the car $46,000 (assuming no sales tax on destination charge, which I’m not quite sure about), not just the $43,500 after the reservation and deposit.

Also, don’t forget to add in title/registration/license. Check here: BMV: Vehicle Registration Fees and Taxes (looks like IN also has some kind of extra hybrid/EV fee too)
 
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Reactions: whitex and dhrivnak

PoitNarf

My dog's breath smells like dog food
Jun 7, 2016
2,870
4,007
NJ
Yep, just because you made separate payments for the reservation and order deposit does not mean you get $3500 worth of the purchase price untaxed. You’ll pay taxes on the total cost of the car.

Check out this calculator, it was 100% correct for my case and helped me figure out my down payment amount to get my monthly payments where I wanted them to be: Tesla Model 3 Better cost estimate
 

whitex

Well-Known Member
Sep 30, 2015
6,566
7,891
Seattle area, WA
Does this look right? I know there will be other costs for registration and whatnot, but I am talking about for the costs that I will need to take a loan out for, this would it, correct? I am pushing myself to have $30K to put down as a downpayment, so my loan amount would be for $16,545 (+ interest rate of course).

Look right? Am I forgetting or miscalculating something?
First, as others have pointed out, tax applies to the whole purchase price (I believe the delivery charge as well). Second, you should find out what "registration and whatnot" is where you live - you can add it to the loan if you want (and qualify). Ask you DS, they should be able to tell you. Or maybe post a question in your regional Tesla forum to ask how much was the total before financing for anyone who bought around where you are. Third, and you may already have this covered, don't forget about possible costs of installing a charger or at least a NEMA 14-50 outlet where you will park the M3.
 
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