2023 Tesla Model Y Prices, Deals and Lease Options

Tesla Model Y Tax Credit

The Tesla Model Y qualifies for a $7,500 federal tax credit. However, there are stricter guidelines now as a result of the Inflation Reduction Act, so be sure to do your research carefully. If necessary, you may want to consult with a tax professional.

The Model Y tax credit isn't a rebate, which means it won't lower your costs upfront. Still, we think it's worth looking into since the tax credit gives the Tesla Model Y a big advantage over other EVs.

California Clean Vehicle Rebate

Tesla Model Ys used to be eligible for the $2,000 Clean Vehicle Rebate in California.

Unfortunately, the program stopped taking applications in November of 2023 because of the state's plan to transition to a separate incentive called Clean Cars 4 All for low-income buyers.

Your state and local utility companies may also offer incentives you don't know about. In some cases, this may involve programs related to charging stations.

Colorado EV Tax Credit

Colorado's Innovative Motor Vehicle Credit offers a $5,000 tax credit on the EVs that can be combined with the $7,500 federal tax credit. If you qualify for both, this could result in massive savings.

Tesla Model Y Inventory Discount

Inventory discounts were introduced in May of 2023 on in-stock Tesla Model Ys.The incentives lasted for several months but largely dried up.

Tesla does offer discounted pricing on low-mileage Model Y demo vehicles, but the advantage may not be worth it. We recommend checking your options before making a decision.