The latest and greatest invention from Tesla Motor Company is called Cybertruck. It has been described by many as being as useful as a utility vehicle, with all the added perks and excitement of a sports car. This vehicle has all the efficiency and aerodynamic research that usually go into a Tesla, and is sure to make you the envy of the road.
While the starting price for Cybertruck is just under $40,000, there are other factors that can increase or decrease the price of the model you purchase. These price influencing factors can be based on anything from special add-ons, to shipping fees, to even the part of the country you live in.
Your hometown may offer added benefits to purchasing an electronic vehicle, as these cars tend to be better for the environment and are more sustainable than other, traditional vehicles. Read on to learn more about how different factors can change how much you spend on your Tesla and how much Cybertruck will cost you in your area.
The Starting Point
It does not seem too difficult to sell Americans on the benefits to Cybertruck. The sheer power, towing capacity, payload, and versatility of this Tesla model all make it top of the line. The much anticipated Cybertruck includes many if not all of the perks that come with owning a Tesla vehicle. The base models feature three main options for purchase:
- Cybertruck Single Motor
- Cybertruck Dual Motor
- Cybertruck Tri Motor
The Cybertruck base model which features a single motor and rear-wheel drive starts out at about $40,000. This starting point is ideal for those that do not want anything flashy. This model will include the adaptive air suspension and 17-inch touchscreen for free, and the option for autopilot or “Full Self-Driving” for just an additional $10,000.
If you are in the market for a Cybertruck and need the benefits of dual motors and the option for all wheel drive, you will be looking at a starting price of almost $50,000. This model will allow you to drive more safely in the snow as well as go off-roading without fear of getting your vehicle stuck. This model is better for the more adventurous driver.
The top of the line Cybertruck model features tri motor driving as well as all wheel drive and will run you a whopping $70,000. While this model is by far the most expensive option, a tri motor Cybertruck allows you to tow more, drive farther, and accelerate faster. If you are a craftsman looking for a heavy duty truck for work, you just found it.
One Thing That Will Increase Cybertruck’s Prices
There are multiple factors that should be considered when purchasing a Cybertruck. This Tesla model is a whole lot of truck but will not require as much upkeep as the competitor’s version would. The stainless steel alloy exoskeleton and bulletproof glass should be sufficient for most drivers and electric vehicles do not require oil changes.
One of the most easily avoidable fees that you could face when purchasing a Cybertruck lies in the reality that for as popular Tesla Motor Company is getting, there still really are not that many distributors out there. There are really just three ways to get your Cybertruck to you once you finish all that paperwork and it is finally yours:
- Drive your new Tesla off the dealership lot
- If you do not live near a Tesla dealership, you will be facing fees for them to ship your new Cybertruck to your door
- You also have the option to ship your Tesla through another commercial hauler
If you ship your new Cybertruck through Tesla, the additional fees start at $1,500. Compared to the price of the Cybertruck, this can feel like not very much and yet a lot all at once. Tesla ships with an open auto trailer. If you are throwing tens of thousands on a new car, you likely want it to arrive in mint condition like you drove it off the lot.
If this does not sound appealing to you, you also have the option of shipping your Tesla through another professional shipping company, but keep in mind that closed auto haulers can be even more expensive. The nice thing is that if you do choose to ship through another company, you can always get quotes from several options first.
Can You Lower Cybertruck’s Cost?
It is not impossible to make Cybertruck’s high cost a little easier on your budget. Depending on what you are comfortable with, you can use the flashy appeal of your Cybertruck as advertising for certain companies that are willing to pay top dollar for you to drive their ad around. Get creative and you could even rent out your Tesla for a fee.
With certain electric vehicles, the federal government will offer tax incentives as they tend to be better for the environment. However, the federal government does not currently offer these benefits to Cybertruck drivers, most likely because the Cybertruck has not completely launched on a mass scale yet and therefore can not be measured.
Depending on your home state, you could be able to claim some state tax incentives, write-offs, rebates, and other forms of lowering your overall Cybertruck price. Tesla’s website has a section dedicated to what each state will offer you once you purchase an electric vehicle. In some states, the savings can end up being quite substantial from:
- State incentives and rebates
- Local incentives and rebates
- Utility incentives and discounted electricity rates
Most states will at least offer exemption from emissions testing as Tesla drivers are majorly reducing carbon emissions compared to other vehicles. Some cities and states will even allow electric vehicles free access to carpool lanes or free parking, so the benefits are definitely out there if you are willing to look for every possible incentive.
States With the Best Benefits
Not all states offer the same benefits for those who drive electric vehicles around, and most states offer incentives only for newly purchased or leased EVs. This means that if you are in the market for a used Tesla, (not that this will be a problem for those with an interest in Cybertruck for quite some time) you should definitely read the fine print.
Rebates are typically either redeemable after the purchase of the vehicle or are reflected in the lowered price of the car. Tax incentives are shown when you next file with the government for your income taxes. Many states have great offers for EV drivers, but the states that have the most or best benefits, rebates, and tax breaks are:
The state with the most benefits to electric vehicle drivers is by far the state of California. You could be entitled to a rebate between $2,000 and $4,000 for your purchase of a Tesla vehicle. Additionally, drivers can expect $1,500 back when they register their electric vehicles in California through the “California Clean Fuel Reward.”
California also boasts the most cities and municipalities that offer incentives for electric vehicles and other clean alternatives. Most of the cities offer lower costs for installing a compliant charging port in your garage and/or lowered costs or rebates for electricity bills. Most states or at least the cities within them will offer something to EV drivers.
States With the Least Benefits
Unfortunately, tax incentives and local rebates are not to be found in every area. Some states offer hardly any benefits at all, leaving local governments to make an effort to give electric vehicle drivers a break. If you live in certain states, you could be out of luck. The states with the least amount of offers or dollars back for electric vehicle drivers are:
- North Carolina
It may be pure speculation, but Georgia not offering much in the way of tax breaks or incentives for electric vehicles may be due to the state’s reliance on oil products. In fact, Georgia plans to remove the small rebate off of electric vehicle home charging installation and reduced energy prices (based on time of use) at the end of 2021.
The states with the least amount of tax or financial benefits do not even make electric vehicle drivers exempt from state emissions testing. Most electric vehicle drivers feel that this small allowance seems like the least the government could do, considering how much cleaner of an option driving a Tesla, or any EV for that matter, is.
There could be any number of reasons why a few states do not see the benefits to electric vehicles, or at least do not feel the need to reward drivers that are interested in making the switch to cleaner energy. The fact is, receiving any sort of rebate for purchasing a car is an unnecessary and very kind thing for your local government to do.
Does Tesla Offer Any Deals?
If you work in an industry that requires you to have a pickup, you may find that the savings on gas prices alone put tons of money back into your pocket. If you are the proud owner of a construction towing company, or some other business that requires a fleet of heavy duty utility vehicles, you may wonder what deals you can get with Tesla.
Obviously saving money on certain upkeep practices for your vehicles is a win in any business owner’s book, but that might be where the immediate financial benefits end. As of right now, Tesla does not have any special deals for those looking to purchase Cybertruck in bulk, although that could always change.
Having a Cybertruck as the vehicle of your business will definitely keep you at the forefront of people’s minds though. Think about the amount of rubber-necking that occurs when you see a beautiful, new Tesla driving down the road. In addition to the great advertising, Cybertruck will save you money on:
- Fuel costs, or rather, the lack thereof
- Oil changes
- Mechanic tune-ups
The biggest cost you will face with Cybertruck however, is the initial heartattack of spending tens of thousands of dollars just to drive it off the lot. If you can force yourself to bite the bullet with that one, keeping a Tesla vehicle up and running in peak condition is not necessarily as difficult as maintaining a traditional engine vehicle.
How to Save Money With a Cybertruck
A big thing to keep in mind when making the switch from a traditional engine car to an electric battery car is that you will have no use for most fluids. Oil changes are a thing of the past, as is the need to gas up your vehicle. Elon Musk famously brags that the only fluid you will have to watch on your Tesla is your windshield wiper fluid. You will like that.
An electric car still needs juice though, and that fuel comes in the form of electricity charging the batteries. So now you have to take into account just how much money you are spending on gas and other fluids, and subtract the amount you will spend on charging your Cybertruck. Gas prices and electricity costs are different all over the US.
The states with the lowest average gas price are Mississippi and Louisiana, while the highest average gas price belongs to the state of California. Maybe that is why California has so many financial benefits to switching over to electric vehicles. All that taken into consideration, it also depends on how often you are filling up your car.
Certain vehicles chug gas more than others, so there are many factors you can take into account when calculating how much money you will save. A major factor to consider when purchasing Cybertruck is that most large trucks and utility vehicles are not known for being particularly efficient, so Tesla’s version alone is more economic.
The Durability of Cybertruck
The worst part about purchasing a new vehicle is knowing the immediate depreciation that occurs as soon as you drive that model off the lot. With a Tesla however, the brand originally gained a cult classic following due to their ability to combine a luxury look and feel with an efficient and clean mode of propulsion.
Since then, Tesla has only gained notoriety in its field and has quickly become one of, if not the most popular electric vehicle on the market today. Elon Musk has somehow made driving a cleaner vehicle feel like a luxurious experience, and the rate of depreciation is not nearly the same as any other vehicle currently on the market.
The material that Cybertruck is made out of is also one of the hardest metals on this planet. That being said, the exoskeleton of the vehicle is so tough, most denting, scratching, or dinging will not be a concern. The Tesla will look as nice as it did driving off the lot for a very long time, even if you only kind of take care of it.
You Still Have Time to Prepare
While the original mass production release date for the single motor Cybertruck was set for 2021, with the other models to follow, things have since been pushed back several months to a year. This means that the half a million pre orders that went through when Elon Musk announced the Cybertruck will have to wait, but it also means you have time.
Waiting time for you means an extended amount of time to prepare financially for the cost of Cybertruck. This vehicle promises a lot of things and seems to satisfy every little boy’s dream of owning a truck and a sports car at the same time. Even if you set aside a few hundred dollars a month for the Cybertruck down payment, you would benefit.
If you can put enough of a down payment on your Cybertruck prior to getting a car loan, you not only end up paying less, your likelihood of getting a lower APR increases dramatically. A good rule of thumb when preparing for a down payment is to have about 20% of the total cost to put down first, no matter if you are looking at financing:
- A new house
- A used car
- A speedboat
That being said, any large purchase that will take you more than a year to pay off will require a certain amount of interest. This ensures that the bank is able to secure the money that is loaned. The higher down payment you put down first, the less you have to borrow, and therefore, the less you have to end up paying interest on. Money smarts.
Cybertruck is one of the most exciting creations to come out of Tesla Motor Company. Its effortless blend of utility and luxury makes it one of the hottest new cars, and it has not even been launched on a mass scale yet. Depending on where you live and what you want, the end of day cost for a Cybertruck of your very own could vary greatly.
By avoiding add-ons and researching the best rebates and incentives for your city and state, you can save yourself thousands of dollars for a new Cybertruck. Some states and areas offer a lot of benefits, while other states are still catching up. Still, the amount you will save in gas bills and oil changes should be enough to tempt you to go electric.