How I bought a Tesla for $78 Per Month

I just bought the new 2019 Tesla Model 3 – here’s why it was only $78.39 per month. Enjoy! Add me Instagram: GPStephan
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So how can a $40,000 car come down to a cost of $29,450?

To start, this car is eligible for a $3750 tax credit until June 30th, 2019. If you pay more than $3750 in federal taxes this means, you may receive this amount back at the time. That money is like cash.

California drivers are eligible for a $2500 Electric Vehicle Rebate, in which the state will mail you a check for $2500 upon showing proof of purchase.

Now Tesla gets somewhat sneaky following this…because in that $29,450 figure, Tesla also

Excluding the gasoline savings and focusing on the first two, cash-value rebates, the ACTUAL cost of the car comes to $33,750. New Tesla. Standard Range Plus. With AutoPilot.

So here’s how I bought this car for $78.39 per month:

Because I financed 100 percent of the car, my ONLY out of pocket cost was the taxation, permit, and registration – that came to $4437.01

From the rest of the amount I financed, my payment comes to $640 per month, or $7680 in the first year.

That means, in the first year, my total out of pocket cost is $12,117.01 involving my payments, taxes, insurance, etc..

However, following the rebates and tax credits, that attracts my TOTAL cost of owning this car for the first year down to $5867.01.

Because this car is for company use, the $1438 I pay in interest on the auto loan is a tax write off, the $4437 in taxes, licensing, and registration I paid upfront is a write off, and I can depreciate the car against my earnings. That’s a $14,075 tax write off…that saves me about about $4,926.25 in taxes.

So remember…my total out of pocket cost was $5867.01 after electric car tax incentives. PLUS I save $4926.25 in earnings …that means I’m effectively purchasing a BRAND new Tesla Model 3 for $78.39 per month out of pocket…and realistically, this works out to be a FREE car when you take into account that MOST of that $640 per month loan payment goes towards principle, and that I can spend my money in real estate in a significantly higher return than what I’m paying in interest on the Tesla. However, in terms of out of pocket price: $78.39 per month.

And after going through the experience purchasing a Tesla like this sight unseen, without ever having driven one before, I need to say…I don’t know the concern of Tesla’s version. Personally, I believe the whole worry is overblown – and I believe we’ll start to see a lot MORE car companies embracing this business model.

We’re naturally entering an era. I haven’t been to a mall or physical store in FOREVER because it’s more convenient to buy it online, and USUALLY for a more competitive cost because online stores have lower overhead, and that savings is passed down to the consumer.

And I have to give Tesla credit for being the first to challenge the conventional business model of automobiles.

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