Despite the recent price increase at Tesla and the decrease in the bonus for the entry-level Model 3, it is still possible to own a Model 3 for less than €400/month. On the other hand, the contribution will be more substantial than before.
Last year, around 162,000 electric cars were sold in France, with a surprising podium as, for the first time, it was not the Renault Zoé that was at the top of sales. Last year, the podium of electric cars sold in France was made up of the Peugeot e-208 in third position with 17,858 registrations, behind the Renault Zoé (23,573) and the Tesla Model 3 (24,911).
A record year for the compact sedan, which benefited from a very attractive price thanks to the €7,000 bonus at the start of the year, after €6,000 since mid-2021. So in January 2021, for an entry-level Model 3 , minus bonuses, the price started at 36,800 euros. Today, the base rate is €47,990, with a €2,000 bonus deducted. It’s clearly not the same budget anymore, but thanks to funding, it’s possible to tear down this Model 3 with more affordable rentals…
Your sales consultant has certainly praised the financing it offers, particularly in LLD or LOA: long-term rental and option-to-purchase rentals. To differentiate the two, it’s simple: you “rent” the car in both cases for a period of time defined at the time of signing the rental agreement.
The difference between these two rental offers appears at the end of the contract, after 3, 4 or 5 years. With the LOA (rental with option to buy), you will have the option to exercise the option to buy (previously defined at the signing of the contract) or return the vehicle. LLD (long term rental) does not include a purchase option at the end of the contract. In other words, you return the car.
That’s why, in this section, we offer you a breakdown of the current offers. Let’s take a closer look at the conditions to be met and whether, in economic terms, this financing may be suitable for the use you will have of the vehicle.
And today, after having deciphered the offer for the Škoda Enyaq iV available from €299/month, the Kia EV6 from €297/month, the MG ZS EV from €99/month, the Peugeot and – 208 at 149€/month, Renault Mégane E-Tech at 248€/month, Volkswagen ID.3 at 229€/month, Renault Twingo E-Tech at 79€/month, now it’s time for the Tesla Model 3 for less than 400€/month .
Which Tesla Model 3 model is offered for less than €400/month?
At Tesla, there is no need to look in the “promo” tab as with other manufacturers, as the brand does not make any. Thus, to reach the desired monthly payments (or not), it is necessary to “play” in a certain way with the car financing simulator. A very well done simulator, by the way.
To get to the lowest prices, we took the entry-level Tesla Model 3, of course. As usual, the brand does not inform about battery capacity and engine power. A quick internet search can find this data. The battery has a capacity of approximately 60 kWh for a range of 491 km according to the WLTP cycle. The engine, positioned on the rear axle, develops around 286 hp and 450 Nm of torque.
Source: Anthony Wonner – Frandroid
Source: Anthony Wonner – Frandroid
Source: Anthony Wonner – Frandroid
In terms of colors, as the financing offer is not compartmentalized by a specific price, we are free to choose the color and rims. However, we opted for the free color “Blanc Nacré Multicouches”, the black interior and the 18-inch “Aero” rims. As far as standard equipment is concerned, the car is very well equipped:
- WiFi hotspot
- Touch screen
- GPS map
- bluetooth hands free kit
- USB plug
- connected services
- voice control system
- Keyless access system
- 360° panoramic view camera
- chrome glass belt
- LED headlights
- Front and rear parking radar
- Heated and electric mirrors
- Electrochromic outside mirrors
- Electrically folding mirrors
- panoramic glass roof
- electric steering column
- Heated and electric driver and passenger seat
- heated rear seats
- insulated glass
- colored glass
- heated steering wheel
- driver’s airbag
- Passenger Air Bag
- Front side airbags
- curtain airbags
- electronic immobilizer
- Electronic Stability Control
- Automatic emergency braking
- collision avoidance system
What are the conditions to be eligible to finance a Tesla Model 3?
There are no special conditions knowing that it is up to you to modulate the conditions. To reach less than €400/month and not literally explode the contribution, we go for 10,000 km per year and an LOA of more than 60 months.
On the Model 3 configurator homepage, Tesla indicates that financing can start from €372.79/month. The contribution is 11,900 euros to reach this monthly payment, from which you must then withdraw the 2,000 euros of ecological bonus. In the end, the contribution drops to 9,900 euros.
How much will your Tesla Model 3 cost you less than €400/month
From the above base income, more than 60 months of rent and with the first rent increased, your Tesla Model 3 will cost €31,894.6. Tesla displays its Model 3 from 49,990 euros on its website, ecological bonus of 2,000 euros not deducted. That ends up giving us a car on display at the list price of 47,990 euros.
From that price, you will therefore pay, over five years, 66.4% of the price of your car. You will therefore have two options from then on: return the car or pay the purchase option so that the Model 3 belongs to you permanently. In the case of this financing, the purchase option amounts to 21,496 euros.
When you add the rents paid, the contribution and the purchase option, if exercised, the cost price of your Model 3 amounts to 53,390 euros. Please note that in the Tesla funding simulator, the total cost will be displayed as €55,390, for the simple reason that the €2,000 contribution is not taken directly from the contribution.
What are the benefits of the Tesla Model 3 LOA?
A high-end, high-performance car with more than enough range for versatile use, all with a very dense fast charging network, for less than €400/month? You don’t necessarily find better on the market today, the American’s direct competitors, like the BMW i4 in particular, are shown at much higher prices.
In the current context, where gasoline prices are at record highs, the savings made at the pump are not negligible, with the price per kWh being much lower than that of unleaded or diesel.
As this is not a compartmentalized offer, you can modify your financing at your convenience, increasing the prescribed mileage, for example, increasing or decreasing the contribution, or managing your rental period. This will also determine the purchase option in the end.
What are the downsides of the Tesla Model 3 LOA?
Contribution will obviously be the brake for many customers with regard to our financing of less than €400/month, as well as mileage, with a Tesla Model 3 regularly being the first vehicle in the household.
The other downside, and one that we haven’t necessarily seen coming, is delays at Tesla. With the shortage of semiconductors, the war in Ukraine and the explosion of demand, the brand had to review its delivery times. So for a Model 3 Propulsion like the one we’re interested in, for an order placed today you’ll have to wait until February 2023. That’s enough to discourage many customers, but it’s almost the same with every other manufacturer. .
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