2024 Tax Credit vs Unlimited Supercharging Transfer

[incrediwoah]

Wanted to get everyones thoughts here. I have a 14 MS with FUSC and got the email to transfer it by taking delivery before end of year. I don't think I will qualify for the 7500 tax credit this year though. I just heard about the 2024 POS credit which gives me the year to qualify for it but get that "discount" right away. What would you do? Transfer the FUSC this year or wait and do the POS next year?

 

[Tam]

Wanted to get everyones thoughts here. I have a 14 MS with FUSC and got the email to transfer it by taking delivery before end of year. I don't think I will qualify for the 7500 tax credit this year though. I just heard about the 2024 POS credit which gives me the year to qualify for it but get that "discount" right away. What would you do? Transfer the FUSC this year or wait and do the POS next year?

In the past 9 years, if the Supercharger was not free, did you take enough road trips that were worth $7,500?

If yes, then keep your free Supercharger.

If no, then get paid $7,500 in one lump sum in the form of point of sale tax rebate.

 

[E90alex]

Depends how much you supercharge.

 

[ngng]

Wanted to get everyones thoughts here. I have a 14 MS with FUSC and got the email to transfer it by taking delivery before end of year. I don't think I will qualify for the 7500 tax credit this year though. I just heard about the 2024 POS credit which gives me the year to qualify for it but get that "discount" right away. What would you do? Transfer the FUSC this year or wait and do the POS next year?

I would imagine the FSD/FUSC transfers will reappear, but when they reappear it may not align with your timeline.

 

[incrediwoah]

All great points. I'm looking at my YTD and it's showing about 2,200 KwH. What are average supercharger rates? Even at .50 thats about $1,100 per year.

 

[jjrandorin]

Wanted to get everyones thoughts here. I have a 14 MS with FUSC and got the email to transfer it by taking delivery before end of year. I don't think I will qualify for the 7500 tax credit this year though. I just heard about the 2024 POS credit which gives me the year to qualify for it but get that "discount" right away. What would you do? Transfer the FUSC this year or wait and do the POS next year?

There isnt even any confirmation that a model Y will qualify for $7500 next year, as a vehicle, for anyone. All the people who are thinking about "I should wait to get it as a point of sale discount" are basically rolling the dice on whether it is actually $7500, or $3750, and whether Tesla will again change pricing.

 

[Tam]

All great points. I'm looking at my YTD and it's showing about 2,200 KwH. What are average supercharger rates? Even at .50 thats about $1,100 per year.

Good calculation. It's in the ballpark.

 

[ngng]

There isnt even any confirmation that a model Y will qualify for $7500 next year, as a vehicle, for anyone. All the people who are thinking about "I should wait to get it as a point of sale discount" are basically rolling the dice on whether it is actually $7500, or $3750, and whether Tesla will again change pricing.

Yup. I was considering waiting to place an order around December for a 2024 VIN, but decided it wasn't worth the gamble. I took the 7500 rebate and the SC transfer and called it a day.

 

[DJ DizzR]

There isnt even any confirmation that a model Y will qualify for $7500 next year, as a vehicle, for anyone. All the people who are thinking about "I should wait to get it as a point of sale discount" are basically rolling the dice on whether it is actually $7500, or $3750, and whether Tesla will again change pricing.

There’s also speculation on whether Tesla or any manufacturer would actually give you the $7500 without raising all car prices up $7500 to make more money.

 

[jjrandorin]

There’s also speculation on whether Tesla or any manufacturer would actually give you the $7500 without raising all car prices up $7500 to make more money.

Yes, thats true. In fact, that is what normally happens with all such credits of this type, across all categories of products, unless supply and demand softens enough that the seller cant do that.

 

[acpd]

Wanted to get everyones thoughts here. I have a 14 MS with FUSC and got the email to transfer it by taking delivery before end of year. I don't think I will qualify for the 7500 tax credit this year though. I just heard about the 2024 POS credit which gives me the year to qualify for it but get that "discount" right away. What would you do? Transfer the FUSC this year or wait and do the POS next year?

To qualify for $7,500 tax credit in 2023, you can use income from either 2022 tax year or 2023 tax year.

Are you sure ypu don't qualify either of those year?

 

[TespaceX]

Yes, thats true. In fact, that is what normally happens with all such credits of this type, across all categories of products, unless supply and demand softens enough that the seller cant do that.

Not true.

Tesla has consistently lowered prices accordingly when tax credits were reduced.

 

[jjrandorin]

Not true.

Tesla has consistently lowered prices accordingly when tax credits were reduced.

Im not understanding what you are saying thats different than what I said. If they lower prices when tax credits are reduced, that means they were higher when the the credit was higher, which means that the prices were raised to capture the credit for themselves.

 

[flai54]

Wanted to get everyones thoughts here. I have a 14 MS with FUSC and got the email to transfer it by taking delivery before end of year. I don't think I will qualify for the 7500 tax credit this year though. I just heard about the 2024 POS credit which gives me the year to qualify for it but get that "discount" right away. What would you do? Transfer the FUSC this year or wait and do the POS next year?

Will you qualify for the 2024 POS credit in the tax year 2024. Just because you get the $7500 can be a POS credit transaction doesn't mean the income limits do not apply. If your 2024 tax year income doesn't meet the income limits of $150K single or $300K married, you will have to pay it back.

If you have a high paying job and won't meet the income limits for tax year 2024 then you mind as well do the FUSC deal before the end of year since you won't qualify anyways whether that is tax year 2023 or 2024. Plus we don't know if the Tesla models will qualify for the full $7500 starting in 2024 as well.

 

[vickh]

Im not understanding what you are saying thats different than what I said. If they lower prices when tax credits are reduced, that means they were higher when the the credit was higher, which means that the prices were raised to capture the credit for themselves.

thats my fear that TSLA might "capture the credit" like other dealers definitely do. Debating whether to p/u in Dec or wait till Jan.

 

[flai54]

thats my fear that TSLA might "capture the credit" like other dealers definitely do. Debating whether to p/u in Dec or wait till Jan.

I typically like to lean towards the side of what is guaranteed which is taking delivery in 2023 where it is $7500 credit. Who knows how the federal tax credit at POS fiasco is going to turn out when it launches.

 

[vickh]

I typically like to lean towards the side of what is guaranteed which is taking delivery in 2023 where it is $7500 credit. Who knows how the federal tax credit at POS fiasco is going to turn out when it launches.

agreed since it's TSLA and we'll hear multiple things from reps too.

 

[flai54]

agreed since it's TSLA and we'll hear multiple things from reps too.

Not to mention that Tesla will probably push for some incentives towards the end of this month to hit their Q4 sales.