Score a Used Tesla for Under $20K with Tax Credits!
Hey everyone, DennisCW here! I’m super excited to share some incredible news for anyone in the market for a used Tesla. Tesla has recently dropped a huge inventory of used vehicles on their website, many of which are priced under $20,000 after qualifying for the $4,000 used EV tax credit. If you’ve been dreaming of owning a Tesla but thought the price was out of reach, now might be the perfect time to jump in. Let’s break it all down!
Unbelievable Deals on Used Teslas
According to a recent post by Whole Mars Catalog, Tesla’s website is currently listing used vehicles at jaw-dropping prices. We’re talking about models like the 2020 Tesla Model 3 Long Range Performance for just $20,000 (before the tax credit). After applying the $4,000 used EV tax credit, you could drive away with a Tesla for as low as $16,000! Other options, like a Model 3 or even a Model S, are also popping up for around $19,000 or less.
But wait, it gets even better! Some of these used Teslas come with awesome perks, including:
- 3 months of Full Self-Driving (FSD)
- 3 months of free Supercharging
- 3 months of Premium Connectivity
These bonuses make the deal even sweeter for first-time Tesla buyers or anyone looking to upgrade their ride.
Who Qualifies for the $4,000 Used EV Tax Credit?
To take advantage of the $4,000 used EV tax credit, there are a few income requirements you need to meet:
- Single filers: Adjusted Gross Income (AGI) must be under $75,000.
- Married filing jointly: AGI must be under $150,000.
Additionally, the vehicle itself must be priced under $25,000 to qualify for the credit. The good news? Tesla currently has plenty of inventory that meets this criterion. A few months ago, these sub-$25,000 Teslas would get snapped up instantly, but right now, there’s a solid selection to choose from. If you qualify for the tax credit, you could score a high-quality EV for a fraction of the original cost.
Things to Consider Before Buying
While these prices are incredibly tempting, there are a couple of things to keep in mind:
- Financing Rates: If you’re planning to finance your purchase, be aware that the interest rates on Tesla’s website are currently around 8.19%. This might not be the most cost-effective option unless you’re putting down a large down payment or paying in cash.
- High Mileage: Many of these used Teslas, especially the ones priced under $20,000, come with higher mileage. For example, you might see a 2020 Model 3 or Model S listed for as low as $19,000, but the odometer could be on the higher side.
Because of the potential for higher mileage and wear-and-tear on these vehicles, I strongly recommend protecting your investment with a warranty.
Protect Your Tesla with Amber
This is where my channel partner, Amber, comes in. Amber offers month-to-month warranty coverage for your Tesla, making it an affordable and flexible way to safeguard your vehicle. Unlike other companies that charge hefty upfront fees of $4,000 to $6,000, Amber operates on a subscription model—think of it like Apple Care, but for your Tesla!
Amber has three tiers to choose from:
- Basic: Starting at just $65/month
- Essentials: Mid-tier coverage for added peace of mind
- Premium: Comprehensive protection for your Tesla
What’s great about Amber is that it’s no-obligation, and you can cancel anytime. Plus, Amber offers benefits that often surpass Tesla’s own service warranty. Want to learn more? Check out Amber using the link in the description below to get a free quote for month-to-month coverage on your Tesla. A huge thank you to Amber for partnering with me on this video!
Should You Buy a Used Tesla Now?
These low-cost, high-mileage Teslas are an incredible opportunity, especially with the $4,000 tax credit in play. However, it’s important to weigh the pros and cons. If you’re paying cash and qualify for the credit, you could walk away with a Tesla for under $20,000—a steal for a vehicle of this caliber. On the other hand, if you’re financing or concerned about mileage, make sure to factor in potential maintenance costs and consider a warranty like Amber.
I’d love to hear your thoughts! Are you considering snapping up one of these affordable used Teslas? Which model are you eyeing—a Model 3 for $19,000 or maybe a Model S for a similar price? Drop a comment below and let me know what you’re thinking.
Final Thoughts
Tesla dropping their used inventory prices to under $20,000 is a game-changer for EV enthusiasts on a budget. With the added perks like free Supercharging and FSD for three months, plus the potential $4,000 tax credit, there’s never been a better time to jump into the Tesla ecosystem. Just remember to do your due diligence, especially with high-mileage vehicles, and protect your investment with a solid warranty.
Thanks for reading, and don’t forget to check out Amber for month-to-month Tesla coverage using the link below. Stay tuned for more Tesla updates and EV news right here on my blog. Until next time, this is DennisCW signing off!
Disclaimer: This post contains affiliate links. I may earn a commission if you use the links provided, at no additional cost to you. All opinions are my own.
