Tesla has shared an eye-opening breakdown of how affordable their Model 3 and Model Y vehicles can be when factoring in federal and state incentives, plus potential gas savings. This information was posted on their official X (formerly Twitter) account, showcasing the varying costs across different states.

State-by-State Affordability Breakdown

The effective pricing for Tesla’s popular models varies significantly across states due to different incentive structures. Here’s a breakdown of the starting prices and monthly payments for both models in various states after applying available incentives:

State	Model 3 Start Price	Model 3 Monthly	Model Y Start Price	Model Y Monthly
Colorado	$13,490	$172	$14,990	$192
Maine	$22,490	$297	$23,990	$317
Massachusetts	$23,990	$318	$25,490	$338
Vermont	$24,990	$332	$26,490	$352
Washington	$24,990	$332	$26,490	$352
Connecticut	$25,740	$342	$27,240	$362
Rhode Island	$26,990	$359	$28,490	$380
New Jersey	$27,990	$373	$29,490	$394
Pennsylvania	$27,990	$373	$29,490	$394
Delaware	$27,490	$366	$29,990	$400
New York	$29,490	$394	$30,990	$414

Colorado Offers Most Attractive Pricing

Colorado stands out with the most appealing pricing, offering the Model 3 for an effective price of $13,490 and the Model Y for $14,990 after incentives. This is significantly lower than other states, with Maine coming in second at $22,490 for the Model 3 and $23,990 for the Model Y.

The substantial price difference is attributed to Colorado’s generous state incentives, which include:

Federal tax credit of $7,500 (available in all states)
Colorado state tax credit of up to $5,000
Potential additional local incentives

Impact on Monthly Payments

The effect of these incentives is clearly reflected in the monthly payment amounts. Colorado residents can expect to pay as little as $172 per month for a Model 3 and $192 for a Model Y, based on a 72-month term. In contrast, New York residents would pay $394 and $414 monthly for the same models, respectively, highlighting the significant impact of state-specific incentives.

Tesla’s Affordability Message

Tesla’s announcement on X emphasizes, “After federal & state incentives + gas savings, you can get a new Model 3 or Y for as little as ~$15k.” This messaging underscores the potential affordability of Tesla’s electric vehicles when all savings and incentives are considered, potentially making EVs more accessible to a broader range of consumers.

EVXL’s Take

The breakdown of Tesla’s Model 3 and Model Y pricing after incentives, especially in states like Colorado, highlights how government incentives can significantly impact EV affordability. This transparency in showcasing effective prices aligns with the broader trend of making EVs more accessible to the average consumer. As we’ve seen in recent Tesla news, the company continues to innovate not just in technology but also in communicating the real-world costs of EV ownership. This approach could potentially encourage more consumers to consider EVs as a viable option, further accelerating the transition to sustainable transportation.

Photo courtesy of Tesla