37k with 20% down payment means you borrow $29k at say, a 4.79% interest rate for 60 months so... $556/month. I know we're on HN with high salaried tech workers but c'mon, that's a lot of money and doesn't even include insurance.
That and their base model 3 is RWD which makes it a non-starter for anyone who drives in snow/ice. The AWD model starts at $47k.
I've owned a base model 3 RWD and live in Ohio where we regularly get all of the weather, sometimes the same day even. I would rather drive that than an AWD Honda or Toyota or similar. The weight and center of gravity, especially with the right tires, makes it a very nice vehicle to drive in adverse conditions. Those "average" market SUVs aren't very good in snow/ice either. At least in my experience.
I'm not sure people are reading my comments above as making 2 comparisons. I used "decent hybrids" as a group of cars that are roughly comparable to the Model 3, but more convenient in areas where chargers are sparse (in northern Michigan and the Upper Peninsula, you pretty much have to plan your route to the available chargers).
And then I noted that there are cars that are available for quite a lot less, so anyone that is price sensitive probably isn't going to be shopping for a new electric vehicle that costs nearly $40k.
As an aside I've been to the UP and it's lovely up there. At the time (2020) there weren't really any charging stations except Maciniac City where there was a Tesla Supercharger and Marquette where, my wife and I found ourselves for about 12 hours charging our car in a parking garage. But Tesla has built a few new Superchargers in the area and they are to varying degrees open to other EV manufacturers.