Can You Get A New Tesla Model 3 For $28,000 In NJ? Yes, You Can!
Last Updated on: 6th September 2024, 10:36 pm
Last updated: September 2, 2024
There has been speculation about a cheaper Tesla on the horizon for many years now. But while we’re waiting for the inevitable “Model 2” or “Model C” or “Model Alpha” or whatever the more affordable mass market Tesla EV will be called, savvy EV buyers can actually pick up a brand new Tesla Model 3 today for well below the average new car price. In fact, if you live in New Jersey, you can get a new Model 3 for as low as $27,990 all-in (net cost after incentives and tax credits). That’s less than the cost of a Honda Accord — and almost as cheap as a Toyota Corolla — for an advanced fully electric sedan from Tesla!
Here’s a link (and two backup links) to check out inventory Model 3 cars near you. Each link includes a referral code for an additional referral discount on any new car purchase:
Inventory Model 3 Cars Currently Available at Local Tesla Stores <– note: referal cap hit for 2024, use a different link
Inventory Model 3 Cars Currently Available at Local Tesla Stores <– Alternate link if the above link has hit its referral cap already.
Inventory Model 3 Cars Currently Available at Local Tesla Stores <– Alternate link if the above link has hit its referral cap already.
How The Discounts Add Up
With Tesla’s recent announcement that all Model 3 and Model Y cars qualify for the full $7,500 federal tax credit, sales of Tesla’s current entry-level sedan and SUV have picked up significantly. Last quarter, Tesla hit record production and delivery numbers, thanks mostly to sales of the Model 3 and Model Y. If you pay at least $7,500 in federal taxes (and are under the current income cap), you can claim a $7,500 tax credit with the purchase of any Model 3 or Model Y.
If you buy an EV in the state of NJ, you qualify for an additional rebate of up to $4,000 on EVs with a list price below $45,000. This is part of the state’s Charge Up NJ program (find out more about eligibility guidelines here). This program was temporarily suspended earlier this year but resumed on July 13, 2023, in the state’s Fiscal Year 2024 program renewal. It was renewed again in July 2024 so it is still available as of September, 2024.
Tesla is offering an additional $1000 discount on new Model 3 and Model Y cars bought using a referral code from an existing Tesla customer. Tesla is also offering discounts of up to $3,000 on existing inventory Model 3s which were used as demo cars or showroom models. Inventory cars are in stock on the lots at local Tesla stores. They qualify as new for warranty and tax credit purposes. And if you can find a demo or loaner car with a few miles on the odometer, you can save a bit off the MSRP.
Beyond the discounts in selling price, you can save some additional smackeroos in sales taxes. While NJ collects a hefty sales tax of 6.625% on the sale of any new or used gas or hybrid car, the state has a sales tax exemption on EVs. So, your sales tax on that new Model 3 purchased in NJ will be 0.0%, or zero dollars and zero cents, whichever is lower.
As an example, let’s take a White RWD Model 3 currently in stock at the Springfield, NJ, store. Note that inventory and pricing varies from store to store (and from day to day), so this is simply used as an example from existing inventory (July 15, 2023):
- List Price: $41,240
- Destination Fee: $1,390
- Order Fee: $250
- Inventory Discount: -$2,890
- Referral Discount: -$500
- Federal Tax Credit: -$7,500
- Charge Up NJ Rebate: -$4,000
- Sales Tax: $0
- Net Price Paid: $27,990
Do I Have to Move to NJ to Get This Deal?
While NJ does offer some of the best incentives for new EV purchases, other states offer nice perks for buying an EV, including:
- California: Rebate of $2,000 up to $7,500 (income restrictions apply)
- New York: Up to $2,000 instant rebate
- Colorado: $5,000 tax credit
- Connecticut: $2,250 to $4,250 credit (based on income)
- Delaware: $2,500 credit
- Maine: $1,000 to $7,500 credit (based on income)
- Massachusetts: $3,500 rebate
- Vermont: Up to $4,000 instant rebate (income restricted)
As always, YMMV (Your Mileage May Vary). Before buying a Tesla or any other EV, we’d encourage you to research the incentives and rebates available in your area. State and federal incentives change from time to time, based on budgeting and changes in legislation. In addition to saving money on the purchase price and taxes of the car, you may be eligible for discounts or rebates on the installation of EV charging hardware as well. And over time, you’ll save even more, as the fuel and maintenance costs of EVs are significantly lower than they are for gas cars.
As a reminder, in order to get the additional $1000 referral discount on a Model 3, Model Y, Model S or Model X, be sure to use a referral code link. If you have a friend or family member who owns a Tesla, ask them for their code or referral link. Or feel free to use ours included below. There is a 10 referral cap per year, so if one of the links below does not work due to hitting its annual cap, please use the link below it:
- Tesla Referral Link #1 (Christopher55570) – cap reached for 2024
- Tesla Referral Link #2 (Steve81051)
- Tesla Referral Link #3 (Kevin51692)
- Tesla Referral Link #4 (John49040)
- Tesla Referral Link #5 (Brian33170)
If purchasing over chat, in store, or over the phone, and you don’t have a friend or family member who owns a Tesla, feel free to use one of our Tesla referral codes for an additional discount: john49040, brian33170, john49040, steve81051 or christopher55570.
Related Reading:
Tesla Model 3, Model Y May See Reduction in Federal Rebate in 2024
New Tesla Deals Cut $500-$1000 Off All Models
Tesla Model 3 TCO Nearly Matches Cheapest Car in America
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