What is the current assessment of the likelihood of Tesla vehicles again qualifying for the the $7,500 US federal government tax credit or possibly $10,000 if including made in America provision? What purchase/pickup date would one have to have to qualify for the credit? I've seen various thoughts on whether that would be retroactive to late May, the date the legislation passes, or not until January 1, 2022. Assuming it could go into effect in July/August (passing this summer) why would anyone be purchasing a car now unless literally have nothing else to drive, his or her tax liability won't require the credit, certain it will take months to get the car with the increased demand the credit will drive, and/or Tesla will generally raise the price to offset much/all of the credit? I am currently in the 8 - 12 week window (placed M3 order at end of May) and want the car now but can't imagine my frustration if I had waited a couple of weeks/month and would have had a massive tax benefit.
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2021 EV Tax Credit
- Thread starter DLK1974VA
- Start date
Does anyone understand the current house bill income restrictions? I'm a billionaire so ...
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From road show it was suggested a phased decrease. Obviously I haven't read the full text
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Yeah, there is that portion as well:
So an $8k credit is phased out to zero over $40k of MAGI past the threshold.
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talhas3
Licensed Real Estate Salesperson Rochester NY, NJ
Are folks who bought their cars in 2021 gonna get any benefit? I bought Model Y LR a month ago.
If these pass the way it’s proposed I might sell my other car now so I can take advantage of the tax refund next year. Why keep a gas car now
If these pass the way it’s proposed I might sell my other car now so I can take advantage of the tax refund next year. Why keep a gas car now
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In the newest version, the rebate WILL NOT BE RETROACTIVE.
First-year refund at tax time. 2-10 year refund at the time of sale.
A very informative video that sums it all up. I doubt if there will be many more changes.
First-year refund at tax time. 2-10 year refund at the time of sale.
A very informative video that sums it all up. I doubt if there will be many more changes.
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Dunno why, but this made me laugh...The way it's worded. Lol.
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It's obviously a lie. If I was a billionaire I'd pay no income tax, and qualify for this, covid relief and child tax credits. (I work a job, I pay >25% and qualify for nothing).
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Does anyone really think the Senate is going to pass this? Last I heard Manchin was specifically opposed to EV credits.
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Manchin is opposed to the union provision of the EV credits, that is that union built cars get an extra $4500 credit
He is not opposed to the overall EV tax credits in any article I have read -- would like to see a link that says otherwise.
Manchin opposes additional EV tax credit tied to unions - Roll Call
West Virginia senator criticizes such pro-union provisions in reconciliation package as 'wrong' and ‘not American’
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This is just pure madness for the consumer EV market.
I bought an M3P in Jan. Why wouldn't I just trade this thing in for a new LR next year and pocket $8k in tax rebate and do the same for the next 5 years. It may not be a complete wash, but you can essentially drive a brand new Model 3 every year for next to nothing.....
I bought an M3P in Jan. Why wouldn't I just trade this thing in for a new LR next year and pocket $8k in tax rebate and do the same for the next 5 years. It may not be a complete wash, but you can essentially drive a brand new Model 3 every year for next to nothing.....
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Well if the market was rational then used car prices for Tesla's (and EVs in general) would have already have started to be affected (to the extent that they are confident that this bill will actually pass and become law which is far from 100% at this point)
If it hasn't yet I am sure it will which would prevent you from doing this on an annual basis. No one is going to buy a used $50k Tesla for $45k from you when they can order their own with a $8k rebate so that it nets out at $42k. The used car prices for M3 that are covered by this will drop once this passes.
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There is a limit of one per year written into the bill per buyer. (Nothing to prevent spouse from getting one too.) To the victor goes the spoils. Don't forget the 6 to 7% tax in most states which will make this less than fun (Tax, license, insurance, titling, PPF, selling the old one, all seems like too much of a hassle.)
My 2021 Model Y has 15,000 miles on it. Yesterday, I was offered $10,000 more than what I paid for it. Model Ys aren't available until next year. If it is that valuable to him, then it is that valuable to me? What would I do? Join the ICEcapades until I got another one??
Check this out. Used Teslas are priced high https://www.carvana.com/cars/tesla-...32hBZ6awgg_cHsxo4PzDq8DMiB_AJQRRoCJtcQAvD_BwE
Conceivably, I could sell mine now. Make $10k. Order a 2022 for delivery in Feb and get the $8000 discount. In the interim, I could buy back my original 2014 Model S (Tessie) from the person I sold it to to cover. Ok, you talked me into it!
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Understood that you can do this RIGHT NOW, the person I was responding to claimed they could do this for the next 5 years, as in the market wouldn't catch on and used prices would drop, e.g. "you can essentially drive a brand new Model 3 every year for next to nothing."
I find that highly unlikely for the reasons I already stated. People won't pay more for used cars then what it would cost them for new, especially if the point-of-sale rebate comes to pass (versus having to wait for the tax credit refund the next year)
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