The Tesla Model 3 made headlines earlier this week when it was discovered the RWD and Long Range derivatives are now eligible for the full $7,500 tax credit, making them genuine EV bargains. But if you’re lucky enough to live in certain states, the popular electric sedan can be cheaper to purchase than many combustion-powered rivals.
In EV-loving California, the Clean Vehicle Rebate Program (CVRP) is available to residents who meet specific income requirements and purchase or lease “an eligible vehicle” like the Model 3. With as much as $7,500 on the table, there are incredible deals to be had.
As a reminder, the entry-level Model 3 RWD has an MSRP of $40,240. Now that it enjoys the full $7,500 tax credit, it can be purchased for just $32,740. Include the full CVRP incentive, and you’re looking at just $25,240, which is $1,080 less than the entry-level Toyota Camry LE.