How I bought a Tesla for $78 Per Month

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  • Published on:  Wednesday, April 3, 2019
  • I just bought the new 2019 Tesla Model 3 - here’s why it was only $78.39 per month. Enjoy! Add me on Instagram: GPStephan
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    So how does a $40,000 car come down to a price of $29,450?

    To start, this car is eligible for a $3750 federal tax credit until June 30th, 2019. This means if you pay more than $3750 in federal taxes, you will receive this entire amount back at the time you file your tax return. That money is as good as cash.

    California drivers are also 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 a little sneaky after this…because in that $29,450 figure, Tesla also

    So excluding the gas savings and only focusing on the first two, cash-value rebates, the ACTUAL price of the car comes to $33,750. For a brand new Tesla. Standard Range Plus. With AutoPilot.

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

    Because I financed 100% of the car, my ONLY out of pocket cost was the taxes, license, and registration - which came to $4437.01

    From the remaining 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 between my payments, taxes, insurance, etc.

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

    Because this car is for business 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 income. That’s a $14,075 tax write off…which saves me roughly about $4,926.25 in taxes.

    So remember…my total out of pocket cost was $5867.01 after electric vehicle tax incentives. PLUS I save $4926.25 in taxes…that means I’m effectively buying 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 invest my money in real estate at a significantly higher return than what I’m paying in interest on the Tesla. But in terms of out of pocket cost: $78.39 per month.

    And after going through the experience buying a Tesla like this, completely sight unseen, without ever having driven one before, I have to say…I don’t understand the concern of Tesla’s no-dealership model. Personally, I think the entire worry is overblown - and I think we’ll start to see a lot MORE car companies embracing this online-only business model.

    We’re naturally entering an era where everything is done online. 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 price because online stores have lower overhead, and that savings is passed down to the customer.

    And for that, I have to give Tesla credit for being the first to really challenge the traditional business model of selling cars.

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  • Dennis Pearson
    Dennis Pearson  10 hours ago

    I want to see the look on your face when your batteries dies and you are locked in the car.....HA_HA.

  • Dennis Pearson
    Dennis Pearson  10 hours ago

    My ford looks really better. I can drive anywhere not only 250 miles in town.

  • Dennis Pearson
    Dennis Pearson  10 hours ago

    I am tired of tesla. If he did not see fit to start spacex and get a multi-billion payday and put that into tels. A very expensive extric town car. There is no way you can go on a trip.

  • The Truth
    The Truth  17 hours ago +1

    He first if it is for him man... He thought you bought it for him...

  • Lil Demon
    Lil Demon  yesterday

    The video is good but why you gotta put on a sad piano song xd

  • Fred Fred
    Fred Fred  yesterday

    I’m not going to watch this video because I know your a lying dog

  • ACE_stealth251 [ACE]

    So you remember that 1 cent but not the 39 cent ? Lmao

  • Become Best Version Of Yourself!!!

    You Dad is so genuine positive person! I like his energy!

  • Matthew Harvey
    Matthew Harvey  yesterday

    yeah.. thats for the first year.. you still got 4 years to pay..

    So in reality.. you not paying $78 a month.. yer paying $500 a month .. lol

  • RedRocker
    RedRocker  yesterday

    What is Li... NO! You're not gonna get me! HAHA

  • Bookies530
    Bookies530  yesterday

    Just buy a used tesla, they’re way cheaper cos they have no resale value

  • Roman Federico
    Roman Federico  yesterday

    What's ligma

  • ツoyaz
    ツoyaz  yesterday +2

    year 2055: HOW I FINISHED PAYING MY TESLA debt

  • Amber Kstar
    Amber Kstar  yesterday +1

    Trying to explain this to my husband and he still doesn't get it

  • Sean Combs
    Sean Combs  2 days ago

    What a stupid video. I will never get this time back

  • Sean Combs
    Sean Combs  2 days ago

    You are a poor loser douchebag for not getting auto pilot add on. Check out David Rasnick channel 21 videos with 129 subscribers.

  • Atomic Spark
    Atomic Spark  2 days ago +2

    3.75% APR means you pay A LOT more in the end. Your math is completely wrong. As well as all the taxes

  • Atomic Spark
    Atomic Spark  2 days ago +1

    You'll be paying that off for 50 years XD

  • Victoria Lehr
    Victoria Lehr  2 days ago +2

    There are still many things that are very confusing here and also misleading.

    You still have to pay $600 and whatever a month for the car, plus like $200 insurance because Tesla insurance is not cheap… So that’s over $800 a month right there.

    And as of this year, the initial “check” that you get back, is only $1875, and it’s going to lower by the end of this year.

    They also no longer give back the $3000 whatever credit at tax season…
    My friend was doing a lot of research on this, and a lot of things have changed.

    For whatever money that you do get back for the car, if you just wanted to put it towards the car to pay it off faster, great. But that does not change the monthly payments as per agreement.

    Also, it depends on your credit score… I was messing around with an order on the Tesla website, and I did similar numbers, if I did a $4000 down payment, it would still be almost $600 a month, but they didn’t even run a credit check yet…

    I laugh with other comments saying “this video helped him pay off his Tesla already“, because yea, a lot of things are not accurate. At least not anymore. And it’s not being taken into consideration peoples credit and insurance etc. etc.

    Must be nice to be able to afford a nice car 🤣

    I’m just trying to get my visa for Japan so I don’t have to have a car because they have the best transportation system...

  • LowPitch
    LowPitch  3 days ago

    6:37 do- doug..?