Available EV Incentives for New Vehicles

$7,500 Federal Tax Credit

Eligible customers receive a $7,500 credit off the purchase price of qualifying new vehicles, applicable to both cash and financing purchases.

Applied at time of delivery. Customers can purchase up to two vehicles per year with the tax credit applied directly to the purchase price.

Adjusted Gross Income Limitations

$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers

Price Caps

The qualifying vehicle's MSRP at time of delivery must not exceed the following caps. This price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees.

Model 3 Long Range Rear-Wheel Drive: $55,000
Model 3 Long Range All-Wheel Drive: $55,000
Model 3 Performance: $55,000
Model Y Rear-Wheel Drive: $80,000
Model Y Long Range Rear-Wheel Drive: $80,000
Model Y Long Range All-Wheel Drive: $80,000
Model Y Performance: $80,000
Cybertruck All-Wheel Drive (2025 model year vehicles): $80,000

Eligibility requirements are subject to change. For the full list of the current requirements, review the IRS website.

$7,500 Commercial Clean Vehicle Credit

Business and tax-exempt organizations are eligible for a $7,500 credit for new vehicle orders, applicable to both cash and financing purchases

Inflation Reduction Act

As part of the 2023 Inflation Reduction Act, eligible businesses and tax-exempt organizations can claim up to a $7,500 credit when purchasing new Tesla vehicles with a gross vehicle weight rating (GVWR) of up to 14,000 pounds. All Tesla passenger vehicles qualify for this incentive:

Model S
Model 3
Model X
Model Y
Cybertruck

Eligibility requirements are subject to change. For the full list of current requirements for commercial clean vehicle credits, review the IRS website.

Note: For businesses, the tax credits are non-refundable, so you can't get back more on the credit than you owe in taxes. Tax-exempt entities have the option to take a direct payment in lieu of the credit. This business tax credit amount applies to deliveries now. There are currently no AGI or price cap limitations for businesses or tax-exempt organizations.

$7,500 Tesla Lease Incentive

New and qualifying demo vehicle leases in select states are eligible for the $7,500 Tesla Lease Incentive, distributed evenly across the lease term.

Tesla leasing is currently available in AL, AK, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NJ, NM, NV, NY, OH, OR, PA, RI, SD, TN, TX, UT, VA, VT, WA, WV, WY. Contingent on credit approval.

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