I would like to make a calculation to determine this total amount (as accurate as possible), for which I would like your assistance as well.
A citizen of California wants to own and drive a Tesla Model S for a period of 36 months. The total number of miles driven in these 36 months will be 45,000 miles. And after these 36 months the Tesla Model S will be sold back to Tesla Motors for a guaranteed resale value of 50% of the value of a new Tesla Model S. This citizen of California wants to find out what the total cost will be, assuming that the cheapest Tesla Model S is chosen to make this calculation.
The base price of a Tesla Model S with the 60 kWh battery pack with no options chosen is 71,070 USD.
The down payment is 10,660.50 USD (= 15% of 71,070 USD).
The US Federal and State tax is in total 10,000 USD.
Estimated monthly payment is 916 USD. Total amount after 36 months is 32,976 USD (= 36 X 916).
The guaranteed resale amount (when selling the car back to Tesla Motors after 36 months) is 35,535 USD (= 50% of 71,070 USD).
To make the actual calculation I would appreciate some assistance with:
- Sales Tax;
- License Plate;
- Car Insurance in California for 36 months;
- What is the total amount that this citizen will have to pay to Wells Fargo to get rid of the loan after 36 months;
Who would like to assist me with this calculation?