Discussion : All discussion regarding Model 3 and Tax credit in model 3 subforum

[MontyFloyd]

It would be impossible to simply “move production” of LFP cells to the US in 3 years much less 3 months. They don’t have any existing factory here that is made to build LFP cells. In fact they don’t have a factory anywhere that makes LFP cells. They buy them from other companies.

Pretty sure a new modest sized factory in 1 year is possible, it is material sources that could be bigger challenge.
(Cue Corpus Christy?)

 

[MontyFloyd]

SO, question:

If I order a M3P, I need to show my 2023 1040 to Tesla to get the $7500 credit?
Also:
I installed Solar in 2023 too (Home efficiency improvements), had a full refund for 2023 and have some more of that refund that will carry over into 2024, will that affect the $7500?

 

[whydontwe]

SO, question:

If I order a M3P, I need to show my 2023 1040 to Tesla to get the $7500 credit?
Also:
I installed Solar in 2023 too (Home efficiency improvements), had a full refund for 2023 and have some more of that refund that will carry over into 2024, will that affect the $7500?

You need to talk to your tax advisor about this kind of stuff. I don't believe you need to show your 1040 to Tesla.

 

[MidwestM3P]

Model 3 Performance in Ultra Red now no longer qualifies for the $7,500 tax credit after the $1,000 price hike today. Lame. Should have just ordered it over the weekend. Now I'm stuck getting black, not interested in the other colors.

.....and they increased the base price by another $1,000 this past Thursday, making it so that only the standard stealth grey with black interior qualifies for the tax credit.

 

[pdx_m3s]

.....and they increased the base price by another $1,000 this past Thursday, making it so that only the standard stealth grey with black interior qualifies for the tax credit.

White interior is free.

 

[Tezla1]

I leased a new 2024 m3 in Feb 2024, I got the point of sale rebate $7500 on it at the time of lease. It was factored into my payment.

Last week , I got rear ended by an idiot - my car was totaled. The other driver was found 100% at fault and his insurance is in process of paying off my lease. Hopefully next week it’s all done.

I want to lease another 2024 m3.

Question: do I get another $7500 on this 2nd m3 lease?

or am I screwed?

Side note: can I ask insurance company to pay me back that $7500?

 

[mongo]

I leased a new 2024 m3 in Feb 2024, I got the point of sale rebate $7500 on it at the time of lease. It was factored into my payment.

Last week , I got rear ended by an idiot - my car was totaled. The other driver was found 100% at fault and his insurance is in process of paying off my lease. Hopefully next week it’s all done.

I want to lease another 2024 m3.

Question: do I get another $7500 on this 2nd m3 lease?

or am I screwed?

Side note: can I ask insurance company to pay me back that $7500?

Important clarification:
On a lease, you do not get a $7,500 credit, Tesla gets the clean commercial vehicle credit and reduced your payments accordingly.
Therefore, it has no impact on your ability to get another discounted lease.

Had you purchased the car and gotten the 30D New Clean Vehicle Credit, you would still be eligible for a second full point of sale credit. Limit is two point of sale per taxpayer per year. Married filing jointly can get 4 per year.

 

[GermanKief]

What are the chances you think Tesla will pass on the $7500 for the new Model 3 Performance, considering they allowed this previously? I prefer to lease my BEV, rather than buy (but I would qualify if I bought one under $55k). My Audi lease is ending in Oct, so I would need to order (something) in July/Aug

 

[thformula1]

Question for you guys. I'm taking advantage of EV tax credit $7500 reduction in price at point of sale. If I decide to sell my M3P next year to purchase Juniper MYP, do I have to recapture some or all of $7500? Thank you in advance.

 

[mongo]

Question for you guys. I'm taking advantage of EV tax credit $7500 reduction in price at point of sale. If I decide to sell my M3P next year to purchase Juniper MYP, do I have to recapture some or all of $7500? Thank you in advance.

Nope, IRS sets the resale time limit at 30 days and you originally aquired it to use, not resell.
https://www.irs.gov/pub/taxpros/fs-2024-14.pdf

 

[thformula1]

Nope, IRS sets the resale time limit at 30 days and you originally aquired it to use, not resell.
https://www.irs.gov/pub/taxpros/fs-2024-14.pdf

Thank you so much for your response!