Tesla Just Dropped the Price of the Model 3 by $2,000

Is Now the Time to Buy?

It was only 8 months ago I digitally signed my name on a Standard Range Plus for a purchase price of a whopping $38,990 (before tax and delivery fees of $1,200 of course). Since then Tesla managed to bump the rated range from 240 miles to 250 miles, and has now dropped the price to $37,990.

Initially, I was a little annoyed. Paying more for less can do that to you. After taking a second to think about it though, I realized I don’t really have any room to complain. Last year there was still a government incentive of $1,750, and for 3 whole months of my ownership I was able to take advantage of the in-car premium connectivity. Unlimited Netflix, YouTube, Spotify and the like.

Dropping the price is actually the right move as it incentivises those who weren’t ready to make a move to do so now. It also keeps the car competitive in a market where many dealerships are offering 0% financing or cash down benefits, a tactic Tesla has forgone.

So is now the time to buy? Maybe. The only reservation I would have is knowing that Tesla is holding a battery investor day sometime soon and it’s uncertain what they’ll be unveiling. Any chances of that technology being implemented into near-term models is slim, although it’s not out of the question for Tesla to change things up overnight.

Keep in mind that it’s still an estimated 6–8 weeks for delivery if ordering today.

Either way, buying now will get you more range, and more features than cars a few months ago shipped with, all for less overall.