Elon Musk Recently Opened Tesla Model 3 Sales
After all the anticipation, Elon Musk finally opened up Tesla Model 3 sales! This model is Musks’s attempt to offer an electric, mass-market sedan to customers outside of the luxury car price point. It all seems great, but there are a couple of catches. Buyers are required to put down a $2,500 deposit towards the overall cost of the new Tesla model but will have to wait 1-3 months to receive their vehicle. The final cost of the vehicle is a bit higher than most expected. It seems consumers will pay about $50,000 minimum with upgraded configurations if they purchase their vehicle now. The government does offer a $7,500 rebate for electric vehicle purchases, but still, this is a bit more expensive than what most people expected and the timing for applications for the rebate is a bit confusing.
Why Is Tesla Model 3 Special?
Tesla has been advertising the Model 3 features heavily on their social media and in the news. It is capable of going from 0-60 mph in 3.5 seconds, has a top speed of 155 mph, and can drive up to 310 miles on a single charge! Other features that are optional include enhanced autopilot and full self-driving. The total price with additional features can total about $80,000 but is still comparatively less expensive than competitors vehicles like the BMW M3. That vehicle can cost up to $91,000 fully loaded.
Some Suggest Waiting
Some auto sales experts think it might be smart to wait despite the lure of getting money off from the rebate. One reason is the $35,000 version is not yet available, and the cheapest version is about $50,0000 currently. The cheaper version is likely to be made available in the next 6-9 months. A second reason is tax rebate might be reduced for EV buyers as time goes on. It seems likely Tesla will exhaust the pool of tax rebates available to the company. Last, there are alternatives for all-electric vehicles including the Chevy Bolt and used Teslas. Matt DeLorenzo, senior managing editor at Kelley Blue Book stated at around $50,000, a Model 3 comes close to the price of certified used Tesla models. For instance, one can purchase a used Model S at about the same price. Additionally, Jake Fisher, director of auto testing at consumer reports stated, “For less than the price of getting a new Model 3, you might be able to end up with a low-mileage Model S.” Both experts recommended GM’s Chevy Bolt which isn’t completely the same but has a comparable performance.