By: Otaiba Ahsan

Over the past few years, you may have felt that a surge of Tesla’s have hit the road in and around your area. This feeling isn’t wrong at all, as the electric vehicle (EV) giant has delivered a record number of cars as a company during this time. Because of this, many people are interested in joining the Tesla community, but this can be difficult as they’re still considered luxury vehicles with a steep price tag. However, there are several ways to potentially reduce the cost when purchasing one. Continue reading for steps on how to save money when buying a Tesla in Canada.

Government Incentives

Currently, Canada has something called the Incentives for Zero-Emission Vehicles (iZEV) that allows residents to receive $5,000 off at the point of purchase of a new EV. However, they’re quite strict on which cars are eligible to receive the credit. Luckily, the Government of Canada has a resource to see which EVs are eligible. Typically, certain trims of the Model 3 and Y are able to receive the credit.

Apart from the Federal government, there are also available incentives depending on the province you reside in. For example, Quebec provides $7,000 towards the purchase of a new EV, which is significant when combined with the federal credit. Here are links to the provinces that are currently providing a rebate:

Marketplace Options

There are several places you can shop for a Tesla, and each has its own unique advantage when it comes to saving money:

1) Tesla Site

The most common place to purchase is their site itself. If you navigate to the new inventory section, there’s often some sort of discount on brand-new cars that they already have in stock at.a location near you. While the amount off can vary, it’s always worth checking to see if they already have one configured the way you’d like it. This discount, paired with the $5,000 federal rebate, can provide significant savings for your purchase.

Additionally, be sure to check the used vehicles section of their site, where they have reasonably priced Tesla’s that were previously owned. Buying used from Tesla directly provides peace of mind, as you know they have done extensive checks on the car to ensure their quality matches the usual standards.

2) Auto Marketplaces

There are several marketplaces like AutoTrader, Clutch, and more, that work as a platform to buy and sell vehicles. You can find both private sellers and dealerships that have Tesla’s listed. Unfortunately, since the car will be used, it won’t be eligible for the iZEV. However, if the price is already quite lower than what you’d pay for a brand new Tesla, albeit a few years older, then it might be the right option for you.

NOTE: Auto marketplaces can be a particularly strong option for prospective Tesla owners that are looking for the Model S or Model X, as the prices can be much lower for those specific vehicles.

3) Private Sale

The final option is to look at platforms like Facebook Marketplace or Kijiji to purchase a Tesla via a private sale. While this option has more risks such as dealing with shady sellers without any protections, there are still many honest people on these sites. You can often find used Tesla’s for a reasonable price on these platforms.

NOTE: It’s critical to be extremely cautious when going through with a purchase, as there can be many scammers looking for personal information, or people with poor intentions. Do your due diligence before meeting a seller.

The Bottom Line

The steps on how to save money when buying a Tesla in Canada are straightforward. Firstly, it’s worth checking to see if the Model you’re looking for is eligible for the iZEV rebate from the federal government. Additionally, do some research to see if there are provincial incentives as well. Lastly, look at the different places you can purchase the car, and see what’s best for you.