A map released by Tesla in its Q3 financial report recently revealed the cheapest states to buy the automaker’s Model Y, perhaps alleviating the emotional roller coaster for consumers hoping to snag one of the electric vehicles at an affordable price.
Mark Kane of InsideEVs passed along the visual in October, with Colorado being the least expensive state to buy a Model Y at $31,490 (excluding a destination charge and order fee).
— InsideEVs (@InsideEVs) October 18, 2023
The EV was just $1,000 more in Illinois and New Jersey, while Massachusetts and Maryland round out the five cheapest states at $32,990 and $33,490, respectively.
The East Coast dominated the other top spots to find a deal: Vermont and Delaware tied for the sixth cheapest, leaving Connecticut, Pennsylvania, New York, and Maine with the final slots in the top 10.
As Kane pointed out, it’s important to remember that these costs take into account various tax incentives, including a $7,500 federal deduction for certain EVs. The low price of the Tesla Model Y in Colorado is thanks in part to that federal deduction as well as a $5,000 state tax credit.
Another key consideration? The incentives — or the combination of them allowed — could change at any time, per Tesla’s official website, so be sure to stay up to date on your research and your home state’s registration laws if you’re planning to take advantage of them.
“The funds may and often do deplete before the end of each rebate cycle,” one person from Illinois cautioned in the comment section of the InsideEVs article.
Throughout history, the interest in EVs has ridden another roller coaster, but the renewed desire for them could help make our world healthier.
EVs may even help prevent costly medical bills. Poor air quality created by the burning of dirty energy, including oil and gas, has been linked to health issues leading to premature death.
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