Tesla dropped promotional funding for the long-range Model 3 this week after it was eligible for the $7,500 federal tax credit.
As Electrek reported on June 17, Tesla and the IRS have shown that the Model 3’s long-range all-wheel drive is now eligible for the full tax credits. Today, Tesla is valuing the initial purchase value of the electric vehicle at just $34,990, $1,000 more than the rear-drive Model 3, adding federal tax credits and estimated fuel savings. to $5,000 in five years.
The rear-wheel-drive Model 3 is still eligible for federal tax credits because it uses LFP battery cells from China.
The Model 3 Long Range is now indexed at a 6. 39% APR on loans up to 72 months. The rear-wheel-drive Model 3 continues to offer an APR of 1. 99% for 36 months with a 60-month option at 2. 99%.
Although the Model 3 Long Range is now $7,500 cheaper, the higher interest rate is a challenge for the parties because it eats up potential savings. The folks at CarsDirect estimated that with a five-year loan, thanks to the 6. 39% interest rate, the Model 3 Long Range has more than $4,200 advantage over $7,500.
According to ACEA, Tesla deliveries in Europe are -13. 7%, while the entire BEV segment is -2. 1%.
If you’re eligible for the federal tax credit, the Model 3 Long Range is less expensive than before, but costs about $3,200 more to finance through Tesla than it did last week. CarsDirect suggests thoroughly comparing its features if you’re buying a long-term car. Model 3 range.
Click here to locate a local broker who may have the Model 3 in stock: Partner Link
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Michelle Lewis is a member of Electrek and DroneDJ, 9to5Mac and 9to5Google. He lives in White River Junction, Vermont. In the past he worked for Fast Company, The Guardian, News Deeply, Time, and others. Message Michelle on Twitter or michelle@9to5mac. com. Check out her private blog.