Tesla just reduced the price of the Tesla Model X significantly, and it has a lot of people asking themselves if they should pull the trigger. This most recent price reduction means that the Model X now qualifies for the EV Tax Credit of up to $7,500.
Along side the reduction in the Model X is an equal reduction in price on the Model S. Both the Model X and Model S saw a price reduction just a few days ago of $18,500 in the base price. This combined with the Tax Credit the Model X now qualifies for, has increased demand significantly.
On the other end of the Tesla lineup, we have the Model Y and Model 3. Although we haven't seen a price change on either in a couple months now, what we have seen is some pretty significant discounts on inventory cars across the country. In fact, right now in my area, there are 459 cars available in inventory, of which over 72% of them are discounted.
For the Model Y and Model 3, inventory discounts are racking up north of $5,000. In addition to this $5k discount, you can of course get another $500 off when you use someones referral code. The same is true for the Model S and Model X, but the additional discount is $1k instead of $500.
With these pretty amazing prices that are available, it begs the question, is now a good time to buy? Well, there are a lot of factors to consider, and I will share these with you in todays video.
The first thing you may want to consider is tax credits. Specifically the fact that the EV tax credits are going to be realized at time of filing your 2023 taxes, sometime around April of 2024. Starting in January of 2024, that EV tax credit becomes a Point of Sale tax credit and comes off the price of the car. On top of that, Tesla is already communicating that starting in 2024, they expect to see a reduction in the EV tax credit qualification on some models.
Next, and probably the most obvious for Model 3 buyers, is the recent launch of the Refresh Model 3 (AKA Project Highland). The refresh was just released in Europe and is expected to start making its way to customer hands by October 2023. Although this refresh looks great, it will not be coming to North America until some time in 2024. Following this same logic, we know that the refresh Model Y (Project Juniper) will be coming some time after the release of the new Model 3.
Now when I look at the inventory in my area, I see over 72% of cars are discounted. The discounts range from $0-5,500, but there are no existing inventory Model X's that are $79,990, meaning none that qualify for the EV tax credit. There is also only 1 Model S in inventory in my area with a discount, and it is actually a Demo model Plaid.
Ultimately, with the instability in Tesla pricing, combined with their rapid development and improvements, it is hard to pick the perfect time to pull the trigger. When you think you are ready to buy your Tesla, at some point you will need to jump in and take delivery or you will never buy a Tesla.
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Along side the reduction in the Model X is an equal reduction in price on the Model S. Both the Model X and Model S saw a price reduction just a few days ago of $18,500 in the base price. This combined with the Tax Credit the Model X now qualifies for, has increased demand significantly.
On the other end of the Tesla lineup, we have the Model Y and Model 3. Although we haven't seen a price change on either in a couple months now, what we have seen is some pretty significant discounts on inventory cars across the country. In fact, right now in my area, there are 459 cars available in inventory, of which over 72% of them are discounted.
For the Model Y and Model 3, inventory discounts are racking up north of $5,000. In addition to this $5k discount, you can of course get another $500 off when you use someones referral code. The same is true for the Model S and Model X, but the additional discount is $1k instead of $500.
With these pretty amazing prices that are available, it begs the question, is now a good time to buy? Well, there are a lot of factors to consider, and I will share these with you in todays video.
The first thing you may want to consider is tax credits. Specifically the fact that the EV tax credits are going to be realized at time of filing your 2023 taxes, sometime around April of 2024. Starting in January of 2024, that EV tax credit becomes a Point of Sale tax credit and comes off the price of the car. On top of that, Tesla is already communicating that starting in 2024, they expect to see a reduction in the EV tax credit qualification on some models.
Next, and probably the most obvious for Model 3 buyers, is the recent launch of the Refresh Model 3 (AKA Project Highland). The refresh was just released in Europe and is expected to start making its way to customer hands by October 2023. Although this refresh looks great, it will not be coming to North America until some time in 2024. Following this same logic, we know that the refresh Model Y (Project Juniper) will be coming some time after the release of the new Model 3.
Now when I look at the inventory in my area, I see over 72% of cars are discounted. The discounts range from $0-5,500, but there are no existing inventory Model X's that are $79,990, meaning none that qualify for the EV tax credit. There is also only 1 Model S in inventory in my area with a discount, and it is actually a Demo model Plaid.
Ultimately, with the instability in Tesla pricing, combined with their rapid development and improvements, it is hard to pick the perfect time to pull the trigger. When you think you are ready to buy your Tesla, at some point you will need to jump in and take delivery or you will never buy a Tesla.
Join this channel to get access to perks:
https://www.youtube.com/channel/UCBsANJdoKs-BVz-kLT2BeVQ/join
Follow us:
Twitter @BeardedTesla
https://twitter.com/BeardedTesla
Instagram BeardedTesla
https://www.instagram.com/beardedtesla/
DON'T FORGET TO SUBSCRIBE TO SEE MORE CONTENT LIKE THIS EVERY FRIDAY MORNING! https://www.youtube.com/BeardedTeslaGuy?sub_confirmation=1
If you are ready to order your new Tesla, don't miss out on your free referral credits by using my referral code - https://www.tesla.com/referral/justin35851
Accessories
DIY PPF Pre Cut Kits Save 20% with code "BTG20" https://driveprotected.shop
Floor Mats, 3DMAXpider use code BTGMAX for $10 off - https://tr.ee/QGIqASU3rvHjiD9t_
Mattress use code BTG10 for $10 off - https://tr.ee/qYPjzjnzMi
Hansshow Power Frunk use code BTG for 15% off - https://www.hautopart.com/product/model-y-power-frunk-trunk-kick-sensor/
Matte Screen Protector - https://amzn.to/3mxN48V
Clear Screen Protector - https://amzn.to/43xonKn
Center Console Cover - https://amzn.to/31oIYlO
iPad Holder - https://amzn.to/2YLBbgZ
Mobile Connector Organizer - https://amzn.to/3iiUkOP
Car Seat Covers - https://amzn.to/2Vsc9kX
Phone and Glasses Holder - https://amzn.to/2IQcnzb
iPhone Charging Cable - https://amzn.to/3svnEG5
Roof Sunshade - https://amzn.to/3geCUVi
Filming Equipment
Sony A7SIII - https://amzn.to/3K21uWo
Sigma 16mm EMount Lens - https://amzn.to/3U7jfbs
128 GB Pro SD Card - https://amzn.to/3zBfuBC
RODE Wireless Go - https://amzn.to/433Gl76
RODE Lavalier Pro - https://amzn.to/3Kx6bsT
GoPro Hero 10 - https://amzn.to/3MojRrk
GoPro Media Mod - https://amzn.to/3Kw83Sz
As an Amazon Associate I earn from qualifying purchases
