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You Can Get $11,000 Off A New Tesla Using the New Referral Program: Factor In The $7,500 U.S. Tax Credit And Teslas Are Almost Free

Tesla vehicles are cheaper than ever and with the new referral program, you can get up to $11,000 off a new Tesla vehicle.
You Can Get $11,000 Off A New Tesla Using the New Referral Program: Factor In The $7,500 U.S. Tax Credit And Tesla's Are Almost Free

Maximizing Savings on Your Tesla: A Comprehensive Guide to Leveraging the Referral Program and Incentives

In 2024, Tesla introduced an updated referral program that, when combined with various incentives, can significantly reduce the cost of purchasing a new Tesla. This new referral program beats the pants off any advertising Tesla could do as a company. Read on and you'll see why.

Here's how you can potentially save up to $10,000 just from referring others, an additional $1,000 from using a referral code, plus additional savings from other sources like the U.S. $7,500 tax credit:

Understanding the Tesla Referral Program

Tesla's referral program has evolved, offering both referrers and buyers financial benefits:

  • Referrers: You can earn up to $5,000 per calendar year by referring friends or family to purchase a Tesla. Each successful referral where the buyer uses your link grants you $500, with a cap at 10 referrals per year. This means, if you refer 10 people in 2024, you earn $5,000. If you manage another 10 in 2025, you earn an additional $5,000, totaling $10,000 over two years.
  • Buyers: Using a referral link when purchasing a Tesla gets you $1,000 off your purchase price.

Additional Savings:

  • $1,000 Referral Discount: This is immediate savings when you use someone's referral link at the point of purchase.
  • $7,500 Federal EV Tax Credit: Available for new electric vehicles, this credit can be applied when filing taxes, effectively reducing your tax liability by $7,500.
  • State Incentives: For instance, Colorado offers various incentives for EV purchases, up to $5,000, which could include rebates or tax credits. These vary by state, so check local government websites or Tesla's incentive page for specifics.

Step-by-Step Guide to Maximize Your Savings:

  1. Start with a Referral: Begin your Tesla journey by using a referral link. This could be from a friend or found on platforms like X, where Tesla enthusiasts often share their codes.
  2. Understand Your State's Incentives: Research what incentives your state offers. Colorado, for example, might provide additional rebates or tax benefits.
  3. Plan Your Referrals: If you're looking to buy in 2025, start referring in 2024. By referring 10 people in 2024, you earn $5,000. If you can refer another 10 in 2025 before your purchase, that's another $5,000, though remember, these benefits need to be used within a year of earning them.
  4. Timing Your Purchase: Since referral benefits reset annually, timing your referrals and purchase around this can maximize your savings. If you're close to the cap, consider waiting until the new year.
  5. Combine All Incentives: When you're ready to buy, ensure you're using all available incentives:
  • Your $1,000 referral discount.
  • The $7,500 federal tax credit.
  • Any state or local incentives.
  • Want a Tesla and an initial $1,000 off? Be sure to use my referral code.

Example Scenario:

  • 2024: You refer 10 people, earning $5,000.
  • Early 2025: You refer another 10, earning another $5,000.
  • Mid-2025: You decide to buy a Tesla. You use a referral link for $1,000 off, apply for the $7,500 federal tax credit, and take advantage of Colorado's incentives, which might add another $5,000 off depending on the specifics.

Tesla's are virtually free at this point

By strategically using Tesla's referral program, combined with federal and state incentives, you can significantly reduce the cost of your Tesla. This approach not only makes owning a Tesla more affordable, but also encourages community engagement within the Tesla ecosystem.

Remember, while the referral benefits are straightforward, always consult with a tax advisor for the best way to apply tax credits and understand any potential changes in state or federal incentives. With careful planning, your dream of owning a Tesla could become much more economical.

What do you think about Tesla's new referral program and all the incentives that take down the price of a new Tesla?

Share this article with friends and family and on social media - or leave a comment below. You can view my most recent articles here for further reading. I am also on X/Twitter where I post more than just articles daily, as well as LinkedIn! Thank you so much for your support!

Want a Tesla and $1,000 off? Be sure to use my referral code.

Hi! I'm Jeremy Noel Johnson, and I am a Tesla investor and supporter and own a 2022 Model 3 RWD EV and I don't have range anxiety :). I enjoy bringing you breaking Tesla news as well as anything about Tesla or other EV companies I can find, like Aptera. Other interests of mine are AI, Tesla Energy and the Tesla Bot! You can follow me on X.COM or LinkedIn to stay in touch and follow my Tesla and EV news coverage.

Image Credit: Tesla, Screenshot

Article Reference: Tesla

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