If you've been thinking about getting a Tesla, now might be the perfect time. Tesla is rolling out a bunch of amazing incentives that make owning one even more appealing. Here's the full rundown of what's available right now.

Last update: December 1, 2024

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1. 3 Months of FREE Supercharging and Full Self-Driving (Supervised)

• Details: Customers who take delivery of a new Model S, Model 3, Model X, Model Y, or Cybertruck by December 31, 2024, are eligible for three months of free Supercharging and Full Self-Driving (Supervised).
• Important Note:
  • This offer applies only to new vehicles from existing inventory.
  • The perks cannot be postponed or transferred to another account or vehicle.
  • An alternative option won't be provided if you purchase Full Self-Driving (Supervised).
  • Used vehicles and business orders are excluded.

2. $500–$1,000 Referral Discount

• Savings:
  • $500 off on Model 3 and Model Y.
  • $1,000 off on Model S, Model X, and Cybertruck.
• How to Get It: Use a referral link when placing your order.

3. Inventory Discounts

• Details: Get up to $5,000 off on new Model 3 and Model Y vehicles.
• Tip: Check Tesla's inventory for specific models and discounts available in your area.

4. Free Full Self-Driving (FSD) Transfer

• Eligible Models: Model S, Model 3, Model X, Model Y, and Cybertruck.
• Requirement: Take delivery by the end of the year to qualify.

5. Special Financing Rates

• Model 3 Financing:
  • 0% APR for up to 36 months with 20% down payment.
  • 2.99% APR for up to 72 months with 20% down payment.
• Model Y Financing:
  • 0% APR for up to 60 months with 20% down payment.
  • 0.99% APR for up to 72 months with 20% down payment.
• Note: These rates require delivery by the end of the year.

6. Lease Offers

• Model 3 and Model Y: Lease for as low as $299 per month.

7. Additional Perks

• Model X AWD: Receive one paid option included when you purchase Full Self-Driving (Supervised).
• Model 3 Performance: Get a free paint option with the purchase of Full Self-Driving (Supervised).

8. Military Discount

• Details: $1,000 discount for members of the military and their spouses.
• Eligible Models: Model 3, Model Y, Model S, Model X, and Cybertruck.
• Limit: No limit on the number of vehicles that can be purchased with this discount.

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These incentives are pretty exciting and might not last long, especially with the end of the year approaching. If you've been considering making the switch to electric or upgrading your current Tesla, now's a fantastic time to take advantage of these deals.

I wanted to dive into the latest on Tesla leasing because there's a lot more going on than you might think. If you're considering getting a Tesla, now could be a fantastic time with all the incentives and options available. Let's break it down.

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Tesla's Pulling Out All the Stops

Tesla seems to be going all-in to boost sales globally, especially in the U.S. Here's what's on the table:

• Double Referral Credits: Tesla has doubled the referral bonus. If you need a referral link, here's mine!
• Federal Tax Credit: Might be the last chance to snag the $7,500 federal EV tax credit, especially with potential policy changes looming.
• Amazing Lease Deals: Leasing discounts as low as $299 a month on the Model 3 and Model Y.
• Freebies: Get 3 to 6 months of free Supercharging and Full Self-Driving (Supervised).
• 0% Financing: Financing options available for up to 72 months at 0% interest.
• Inventory Discounts: Up to $8,000 off selected models in certain locations.
• Lease Buyout Options: The big topic for today!

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Why Leasing Might Be Your Best Bet Right Now

There are some solid advantages to leasing a Tesla:

• No Resale Hassles: At the end of your lease, you don't have to worry about selling the car or haggling with dealers.
• Lower Payments: Down payments and monthly payments are generally lower than financing. Sometimes, the monthly payment is about half!
• Tax Credit Eligibility: You get the federal tax credit even if your income is above the usual limits ($150k single, $300k married). Plus, you benefit even if the vehicle isn't typically eligible, like the Cybertruck or certain Model S and Model X versions.
• Flexibility to Buy Out: If you decide you love the car, you can buy it out—even as soon as a week into your lease.
• Option to Adapt: With the EV market changing rapidly, leasing lets you pivot more easily if newer models or more affordable options come out in the next few years.

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But It's Not All Sunshine and Rainbows

Leasing does have its downsides:

• Fixed Terms: You're locked into a set period, which might not align with your future plans.
• Customization Limits: If you love customizing your car, leasing can be a headache. You'll need to return it to stock condition or face extra fees.
• Potential Extra Charges: Wear and tear like curbed wheels or minor dents can lead to additional costs when your lease ends.
• No Equity: Unlike buying, you don't build equity in the car, which might make you feel like you're on a treadmill.
• Availability: Leasing isn't available everywhere. If you're in KY, NE, NH, OK, SC, or WI, you're out of luck.
• High Residual Values: Tesla's lease residuals assume low depreciation, which might not reflect the actual market value in a few years.

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Crunching the Numbers

I took a closer look at some lease deals, and here's what I found:

• Long Range Rear-Wheel Drive Model 3: After the federal tax credit, the net cash price is $34,990. The lease buyout price after 2 years is $31,594—only about a 9.7% depreciation, which is less than the average car's 30-35% over two years.

• Performance Model Y vs. Long Range RWD Y:

  • The Performance Model Y costs about 17% more to buy outright but has double the lease payment compared to the Long Range version.
  • If you're eyeing the Performance model, it might make more sense to finance or buy it outright rather than lease.

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Lease Deals That Stand Out

Some leases are particularly attractive right now:

• Long Range RWD Model Y: $299 a month
• Long Range AWD Model Y: $399 a month
• Long Range AWD Model 3: $349 a month

On the flip side, some deals aren't as hot:

• Long Range RWD Model 3: Only $50 less per month than the AWD version but with fewer features.
• Performance Models: Higher monthly payments that don't proportionally match the increased purchase price.

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Final Thoughts

There's a lot to consider, and it can get a bit complicated. The key is to figure out what best fits your needs and budget. With all these incentives and options, it's tempting to upgrade or switch models, but make sure it aligns with what you really want.

Also, keep in mind that things could change soon—federal tax credits might shift, and new policies could come into play with a new administration. If you're thinking about getting a Tesla, acting before 2025 might be a smart move.

Let me know what you think! Did I miss anything? Share your thoughts in the comments.

If you’ve been considering getting a Tesla Model 3 but aren’t eligible for the $7,500 federal EV tax rebate, now might be the perfect time to act. Thanks to Tesla’s low residual value for 2024 inventory models, leasing offers an incredible opportunity to save. Here’s the breakdown and why this deal is worth a second look.

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The Big Picture: Why 2024 Inventory Models Are a Great Deal

Tesla has marked the residual value of a 2024 Model 3 about $5,000 lower than that of a 2025 model. This difference, combined with inventory discounts and the leasing price structure, results in significant savings—up to $9,000 compared to buying a 2025 model outright.

For those who aren’t eligible for the tax rebate, this leasing opportunity effectively delivers similar savings without relying on federal incentives.

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The Math Behind the Savings

Here’s a closer look at the costs, based on Tesla’s Long Range AWD Model 3 with free exterior and interior colors. Note that these calculations are approximate and may vary based on your location, taxes, and fees.

2024 Model Inventory

• Cash Price:
  $42,740 (after $4,750 inventory discount) + $6,116 (taxes and fees) = $48,856 OTD

• Lease with Buy-Out (15k miles/year):
  $2,523 (initial fees) + $473/month × 36 months + $22,948 (residual value) × 1.09 (tax) + $350 (buy-out fee) = $44,914 OTD

  Savings: Leasing saves $3,942 compared to cash purchase of a 2024 model.

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2025 Model

• Cash Price:
  $47,490 + $6,556 (taxes and fees) = $54,046 OTD

• Lease with Buy-Out (15k miles/year):
  $2,619 (initial fees) + $538/month × 36 months + $27,862 (residual value) × 1.09 (tax) + $350 (buy-out fee) = $52,707 OTD

  Savings: Leasing saves $1,339 compared to cash purchase of a 2025 model.

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The $9,000 Difference

When you compare the 2025 cash price ($54,046) with the 2024 lease + buy-out total ($44,914), the savings are clear: $9,132 saved by choosing the 2024 inventory model.

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What’s the Catch?

If you do qualify for the $7,500 federal tax rebate, the financial equation changes. In such cases, a cash purchase of a new model (2024 or 2025) may still offer better long-term value. However, for those not eligible for the tax rebate, leasing a 2024 inventory model is an outstanding alternative.

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Other Considerations

• Opportunity Cost: Leasing means paying the residual value three years later, which could affect your cash flow depending on your financial priorities.
• Inventory Availability: Not all areas may have 2024 inventory models available, so check Tesla’s inventory near you.

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Conclusion: Act Fast on 2024 Inventory Models

For buyers who aren’t eligible for the tax rebate, the low residual value and inventory discounts on 2024 Tesla Model 3s make leasing a no-brainer. With up to $9,000 in savings, it’s an excellent deal for anyone in the market for a Tesla. Check your local inventory and crunch the numbers—you might just drive away with a steal.