Tesla Cybertruck: Is the $11,000 White Interior Upgrade a Costly Mistake?
When it comes to shopping for an electric car that qualifies for the full $7,500 federal tax credit, the numbers can quickly get tricky. Take the Tesla Cybertruck, for example. While its optional white interior may seem like a sleek upgrade at $2,000, buyers who opt for this feature could end up shelling out over $11,000 for it. So, is this premium upgrade really worth the hefty price tag?
Navigating the Tax Credit Maze
Electric vehicles (EVs) and their drivers must meet several criteria to qualify for the full tax credit. From technical specifications to pricing and income limitations, there are various boxes that need to be ticked. For instance, vehicles with a battery pack capacity of at least seven kilowatt-hours are eligible. Additionally, married couples filing jointly cannot claim the full tax credit if their annual income exceeds $300,000. Price is also a determining factor, with SUVs, vans, and pickup trucks over $80,000 and other vehicles capped at $55,000.
Understanding the Cybertruck Pricing Puzzle
The entry-level, all-wheel-drive version of the Cybertruck is priced at $79,990, just under the $80,000 threshold for federal tax credit eligibility. However, the Cyberbeast trim, starting at $99,990, exceeds the limit. This narrow pricing gap means that even a single option can push the Cybertruck out of the tax credit bracket. For example, the optional white interior, which only adds white trim accents to the door panels and dashboard, can bump the price to $81,990, disqualifying buyers from the $7,500 incentive.
Unveiling the True Cost of Upgrades
The optional white interior is not the only costly upgrade on the Cybertruck. The Cyber wheels, equipped with all-terrain tires and priced at $3,500, along with the upcoming range extender at $16,000, can significantly inflate the final price. According to CarsDirect, financing the Cybertruck through Tesla at 5.99% for 72 months could push the total cost of a model with the white interior to around $97,807, compared to $86,474 with the standard interior and tax credit—a difference of nearly $11,400.
Looking Beyond the Cybertruck
The pricing puzzle isn’t unique to the Cybertruck. Tesla’s range-topping Model 3 Performance, priced at $54,990, offers a black and white interior as a standard option. However, to qualify for the tax credit, buyers are limited to the Stealth Gray paint color. Other paint options, such as Deep Blue Metallic, Solid Black, and Pearl White Multi-Coat, come at an additional cost ranging from $1,000 to $2,000.
Finding a Way Around the Costly Upgrades
While buying a Tesla may come with its financial challenges, there is a loophole for those looking to benefit from the $7,500 tax credit. Leasing a Tesla allows you to claim the credit regardless of factors like MSRP and income, providing a more cost-effective option for those looking to save.
In conclusion, while the Tesla Cybertruck and other models offer exciting features and upgrades, buyers must carefully consider the financial implications of these options. The lure of premium upgrades may come at a steep cost, potentially outweighing the benefits of the federal tax credit. By weighing the pros and cons and exploring alternative financing options like leasing, buyers can make informed decisions that align with their budget and preferences.
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