How I bought a Tesla for $78 Per Month Tesla Model 3 in-depth review 1 day ago   12:51

Graham Stephan
I just bought the new 2019 Tesla Model 3 - here’s why it was only $78.39 per month. Enjoy! Add me on Instagram: GPStephan
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So how does a $40,000 car come down to a price of $29,450?

To start, this car is eligible for a $3750 federal tax credit until June 30th, 2019. This means if you pay more than $3750 in federal taxes, you will receive this entire amount back at the time you file your tax return. That money is as good as cash.

California drivers are also eligible for a $2500 Electric Vehicle Rebate, in which the state will mail you a check for $2500 upon showing proof of purchase.

Now Tesla gets a little sneaky after this…because in that $29,450 figure, Tesla also

So excluding the gas savings and only focusing on the first two, cash-value rebates, the ACTUAL price of the car comes to $33,750. For a brand new Tesla. Standard Range Plus. With AutoPilot.

So here’s how I bought this car for $78.39 per month:

Because I financed 100% of the car, my ONLY out of pocket cost was the taxes, license, and registration - which came to $4437.01

From the remaining amount I financed, my payment comes to $640 per month, or $7680 in the first year.

That means, in the first year, my total out of pocket cost is $12,117.01 between my payments, taxes, insurance, etc.

However, after the rebates and tax credits, that brings my TOTAL cost of owning this car for the first year down to $5867.01.

Because this car is for business use, the $1438 I pay in interest on the auto loan is a tax write off, the $4437 in taxes, licensing, and registration I paid upfront is a write off, and I can depreciate the car against my income. That’s a $14,075 tax write off…which saves me roughly about $4,926.25 in taxes.

So remember…my total out of pocket cost was $5867.01 after electric vehicle tax incentives. PLUS I save $4926.25 in taxes…that means I’m effectively buying a BRAND new Tesla Model 3 for $78.39 per month out of pocket…and realistically, this works out to be a FREE car when you take into account that MOST of that $640 per month loan payment goes towards principle, and that I can invest my money in real estate at a significantly higher return than what I’m paying in interest on the Tesla. But in terms of out of pocket cost: $78.39 per month.

And after going through the experience buying a Tesla like this, completely sight unseen, without ever having driven one before, I have to say…I don’t understand the concern of Tesla’s no-dealership model. Personally, I think the entire worry is overblown - and I think we’ll start to see a lot MORE car companies embracing this online-only business model.

We’re naturally entering an era where everything is done online. I haven’t been to a mall or physical store in FOREVER because it’s more convenient to buy it online, and USUALLY for a more competitive price because online stores have lower overhead, and that savings is passed down to the customer.

And for that, I have to give Tesla credit for being the first to really challenge the traditional business model of selling cars.

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Comments 17883 Comments

Rajah Cardio
The Doug thing was real funny I had to look up at the screen for a second lol
nicholas collins
what does it mean that you purchased it for "business purposes?" Cuz I drive my car to work everyday tbh lol
Yea yea, he did actually get a new Tesla for 78 bucks a month.  BUT, the devil is in the details. The tax write-offs, the rebates, all apply ONLY on the FIRST year of ownership. He will not be getting rebates from the state and gov't every year, so that 78 dollars is for the FIRST YEAR ONLY; then it goes back to the whopping 640-ish dollars/month payments. How people fall for this is mind blowing.
Ok sorta clickbait but ur dad is awesome lol
Ivan Mani
On today's edition of "Privileged white kids of Youtube."
dave baxi
Ha what a fucking cock
Ryan Gross
This the type of guy to buy 4 houses with balloon payments in 2006
Deducting 100% of that as a business expense? The IRS would like to speak with you.
Daniel Monson
Rather than blowing this video off as a click bait video, learn something from it. For instance learn how you can use tax benefits to your advantage when making purchases like this.
Henry Chamberlain
Hey Graham, I love your videos! Entertaining and informative! I invite you and folks here to check out part of my passion, creating quirky and highly engaging comics:
jim stark
How I bought and paid in full a Million dollar custom made Lamborghini for $78 a second for the first day only.
I'll never get people and their toys. A car is a car, who cares?
Other ways to make money from your Tesla on youtube. A) Friends reactions to you driving 0 to 60 in 3 or 4 seconds and if they have channels then advertise for them as well. B) Parent’s reaction to you giving it to them for free.
Then buy another one with Youtube money :)
Stuart Townsley
If u buy a car for business only... Your insurance goes way up
The tax man is coming
Brianna Quépasa?
Satie's gymnopedia 😍
Logan Hoffman
this guy teaches me how to adult
Dave Crew
Question: Imagine your Tesla driving in Self-driving but somehow the police pull you over. Who gets/pays the ticket ?
You guys commenting that he made a stupid decision (and I agree with you), but look at the views of this video. This video raked more than 5M views. And on a financial advice channel where advertisers pay more than average, I think this video alone has paid off his Tesla completely. Overall, a brand new Tesla is pocket change for him. I think Graham just did this just to demonstrate to us sheep how finances are computed, and make smart decisions for ourselves.
At 10 minutes in I honestly don't understand all of these costs and fees.
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Tesla Model 3 in-depth review How I bought a Tesla for $78 Per Month 1 day ago   20:42

Introducing the new Tesla Model 3! With a starting price of around $35,000, it’s relatively cheap alternative to the more established Model S. But don’t let the price deceive you - the Model 3 still comes in with just as much high quality tech and styling as you’ll find in its older brother! So is Tesla cutting corners elsewhere to allow you to buy the Model 3 at such a price? Join Mat for his latest in-depth review to find out!

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