Financing Tesla Model X With EV Life

Good news for drivers looking to save money on a Tesla Model X: your options just got a little better. In early September 2023, Tesla announced price cuts to the Model X and Model S, reducing the sticker price of all trim levels by 15-19%.

For the Model X, the new base price of $79,990 (down $8,500 from the previous price) means it now qualifies for the federal tax credit of $7,500 outlined by the Inflation Reduction Act of 2022. The federal tax credit has MSRP limits of $55,000 for cars and $80,000 for SUVs and trucks. Previously, the Model X’s price tag exceeded those limits, but with the drop in price, potential buyers can now save even more money on the purchase of a new Tesla Model X.

Since its release in 2015, the Tesla Model X has been a cornerstone of the Tesla lineup. Its combination of performance and range has made the crossover a popular choice among Tesla buyers. The Model X’s futuristic design and practical functionality make it one of the most versatile and desirable electric vehicles on the market today.

Now that Tesla has lowered the sticker price and drivers can save even more with EV incentives, there’s never been a better time to check out the Model X. In this article, we’re going to take a look at what makes the Model X so popular, including its design, features, and performance. We will also show you how you can save big by financing your purchase through EV Life.

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Tesla Model X Interior/Exterior and Safety Features

The Tesla Model X is a perfect example of the automaker’s futuristic and minimalist aesthetic. Designed for luxury and practicality, the Model X comes with an array of standard safety and performance features that Tesla has become known for. Its interior and exterior design reflects a balanced blend of technology, luxury, and eco-consciousness, making it a competitive choice in the electric SUV market.

Model X Interior

The cabin of the Model X is a seamless blend of luxury and technology, offering a spacious and comfortable environment for both driver and passengers. The Model X features Tesla's iconic minimalist dashboard with a large central touchscreen display that controls most vehicle functions. This touchscreen replaces traditional knobs and buttons, giving the design a clean and uncluttered look.

High-quality materials are used throughout the interior, including synthetic leather and sustainable wood trims. These materials contribute to the Model X's upscale and eco-friendly appeal.

Drivers can choose between a 5-seat or 7-seat configuration, making the Model X a versatile option for individuals, couples, or families. The seats are comfortable and supportive, with plenty of legroom and headroom.

The Model X is also equipped with the latest connectivity features, including wireless charging, premium audio, and over-the-air software updates, ensuring that the vehicle stays up to date with the latest features and improvements.

Model X Exterior

The exterior of the Model X continues the Tesla tradition of distinctive and aerodynamic designs, blending form and function. The electric SUV’s sleek and aerodynamic profile reduces resistance but also gives it a modern and futuristic appearance, and the Model X’s aluminum body and lightweight construction help maximize its efficiency.

LED headlights, daytime running lights, and taillights provide excellent visibility. Depending on the chosen trim level, the Model X comes with a variety of wheel options, colors, and style preferences.

Model X Safety Features and Charging

Tesla's semi-autonomous driving system, Autopilot, comes standard for all Model X trims. The system features standard automated emergency braking, adaptive cruise control, lane-keeping assist, and parking assist. Tesla also offers the option to add its Full Self-Driving Capability.

The Model X provides numerous standard safety features, including:

• Front and rear parking sensors
• Active lane departure, blind spot warning
• Forward collision mitigation
• Rear collision warning
• Pedestrian detection system
• Traffic sign information display

The Model X benefits from Tesla’s cutting-edge battery system and expansive charging network. Tesla's network of fast-charge stations, known as Superchargers, allow the Model X to gain up to 75 miles of range in 5 minutes. The Model X also comes with adapters for public DC-charging stations and 240- and 120-volt outlets.

Comparing Model X Options at a Glance

*The briefly introduced Standard Range trim is no longer available

Save Money with EV Incentives

There has never been a better time to buy a Tesla Model X. Not only was there a recent drop in sticker price, but that price drop has allowed the Model X to qualify for the federal tax credit, which provides even more savings. And it doesn’t stop there.

Right now, there are numerous federal, state, and local programs offering incentives to help drivers with their electric vehicle purchases. The future is indeed electric, and there are a lot of reasons to make the switch now while the incentives are still being offered. Let’s take a look at a few that are available.

Available EV Incentives

• Federal Tax Credit. The Inflation Reduction Act of 2022 outlined a federal EV tax credit of up to $7,500 for qualified drivers looking to purchase an EV. Electric cars with an MSRP of $55,000 SUVs and electric trucks with an MSRP of up to $80,000 may qualify. At $79,990, the Model X just squeaks under the cap for electric SUVs.
• Clean Vehicle Assistance Program. The Clean Vehicle Assistance Program (CVAP), another California-based incentive, offers grants and loan assistance to lower-income drivers to help purchase or lease low-emission or zero-emission vehicles, including EVs and plug-in hybrids.
• Clean Cars 4 All. The Clean Cars 4 All program helps lower-income Californians by offering cash incentives of up to $9,500 to retire their older combustion engine vehicles and invest in EVs.
• Colorado Electric Vehicle Tax Credit. The newly passed Colorado EV tax credit offers Colorado residents a state tax credit of up to $5,000 toward the purchase of an electric vehicle or plug-in hybrid electric vehicle with a price tag of up to $80,000.

Financing Tesla Model X with EV Life

Even though there are a ton of programs aimed at helping you save money on your Model X, like most government programs, they take a long time and contain a lot of fine print details. Each incentive has its own set of complex requirements for driver, income, and vehicle eligibility, and it can be difficult to determine whether you qualify.

And even when you finally do apply for a program, you still have to wait an average of 6-18 months for approval before you can take advantage of the credits, rebates, or grants provided.

That means if you finance through Tesla or with a traditional auto lender, you’ll be stuck making full-price payments on your loan for months before you ever see a dime in incentives.

The EV Climate Loan

When you apply for the EV Climate Loan with EV Life, here’s how it works:

• Pre-qualify for more than financing. EV Life’s application process is easy and fast. We’ll ensure that you qualify for every tax credit, rebate, and other incentive you’re eligible for, then help you file all the paperwork with our “Turbo Tax-style” incentive filing tools.
• Bundle charging. An EV Life loan enables you to get an instant quote for home charger installation and bundle it into auto financing, reducing your upfront costs.
• One low payment. The EV Life loan applies all your savings directly to your loan, significantly reducing your monthly payment.

Don’t navigate the complex and ever-shifting EV incentive process alone. Financing with EV Life guarantees the best prices and the lowest rates on your EV, saving the planet while saving your pocketbook.

Get pre-qualified today and find out how much you could save on your new Tesla Model X.