Tesla Offering $3,000 Discount or 3 Years of Free Supercharging with Trade-Ins

Tesla is offering a new discount that could slash prices even further for previous brand owners, with a new trade-in deal available for new Model S and X vehicles.

U.S. buyers of the Model S and X who trade in an old Tesla vehicle are now eligible to receive $3,000 off the price tag or three years of free Supercharging, according to Joey Klender from Teslarati. A member of Tesla’s Ownership Loyalty Program team confirmed with Klender the Model 3 and Model Y are not eligible for the promotion.

The news comes just a few weeks after Tesla cut prices on all of its models, and when combined with federal electric vehicle (EV) tax incentives and the $3,000 discount, they could cut buying prices by as much as $20,000 on some qualifying models.

“The options of $3k credit off a new Tesla or 3 years of free supercharger miles (whichever you prefer)” are available on trade-ins made soon, according to a Tesla representative in a recent email to a customer.

The sales rep also added that the deal will expire in February, though it isn’t clear what the exact date of expiration will be.

This offer and Tesla’s recent price cuts have also put pressure on other automakers to follow suit, with Ford cutting prices on the Mustang Mach-E and a Volkswagen executive recently announcing that the company wouldn’t be cutting prices.