$5000 rebate for NJ Electric Vehicle signed into law

[Mrmacmackey]

Nowhere in the law does it say that they are required to offer it at the point of sale, just that they can.

yes rebate at the point of sale, according to the bill, shall is different then may

46 b. A seller or lessor of an eligible vehicle shall provide a purchaser or lessee the option to have the amount of the light duty plug-in electric vehicle incentive deducted from the final negotiated and agreed upon sale or lease price of the eligible vehicle, in which case the full amount of the incentive shall be passed through to the purchaser or lessee in full and payment thereof shall be effective immediately at the time of the final sale or lease and transfer of the eligible vehicle to the purchaser or lessee. The board shall establish a process for reimbursing a seller or lessor of an eligible vehicle the cost of an incentive provided by the seller or lessor pursuant to this subsection.

 

[Mrmacmackey]

I'm not sure how to handle this, but I saw a deal pop up on a black/black stealth last night for $53k so I jumped on it and put the $100 deposit.

After delivery and all the fees I'm at $54,290, seemingly under the 55k threshold. I need to get in touch with someone to clear up the MSRP vs sale price differences and how the rebate will be affected. I'll gladly cancel this if the $5k won't apply and go back to the drawing board, but really hopeful that I'll qualify.

this part is where the confusion may be, seeing as MSRP is not necessarily what you pay for the car ( lets say a discount for a demo model for example)

33 “Eligible vehicle” means a new light duty plug-in electric vehicle, with an MSRP of below $55,000, purchased or leased after the effective date

“MSRP” means the published manufacturer’s suggested retail price, as set by a vehicle’s manufacturer, at the time of sale or lease

 

[EdisonFire]

Correct, in the "ICE" world no one pays MSRP. Tesla you do

 

[lensovet]

yes rebate at the point of sale, according to the bill, shall is different then may

46 b. A seller or lessor of an eligible vehicle shall provide a purchaser or lessee the option to have the amount of the light duty plug-in electric vehicle incentive deducted from the final negotiated and agreed upon sale or lease price of the eligible vehicle, in which case the full amount of the incentive shall be passed through to the purchaser or lessee in full and payment thereof shall be effective immediately at the time of the final sale or lease and transfer of the eligible vehicle to the purchaser or lessee. The board shall establish a process for reimbursing a seller or lessor of an eligible vehicle the cost of an incentive provided by the seller or lessor pursuant to this subsection.

I stand corrected, thanks.

 

[scottygo]

I called Tesla and confirmed all purchases after Jan 17 are in fact covered under the new rebate that will be retroactively handles.

see attached email from the Administrator of this program. The nj m drive green site will be getting an update soon with more info.

 

[yoshi10]

Now we just need to know how the government will handle it retroactively. I really hope it’s not in the form of a tax return.

 

[scottygo]

Update: bad news. I got an email from the lady in my screen shot above, and she asked she can call me. We spoke and she let me know that she was going through her emails and trying to update people with full information. She confirmed that the MSRP of $55k does in fact include any upgrades and add-ons. Which really sucks. Doc fees and delivery does not go against that number however.

Sorry to be the one to share the bad news...

 

[TTinNJ]

Update: bad news. I got an email from the lady in my screen shot above, and she asked she can call me. We spoke and she let me know that she was going through her emails and trying to update people with full information. She confirmed that the MSRP of $55k does in fact include any upgrades and add-ons. Which really sucks. Doc fees and delivery does not go against that number however.

Sorry to be the one to share the bad news...

Thanks for the update. That is how I was expecting the rebate program to work. I think it makes sense to include options like paint/wheels/FSD while excluding taxes and fees.

Now we just need to know how the government will handle it retroactively. I really hope it’s not in the form of a tax return.

My bet is that there will be some sort of application that you have to fill out if you bought your vehicle after the law was signed but before Tesla starts offering the rebate at time of purchase. Fill out the form, attach documentation, mail it in then wait for your check to arrive. Since most people who will be utilizing the rebate (over the life of the program) will be doing so by getting it at time of purchase, I doubt they’d go through all the trouble of changing the income tax forms to add the rebate as a credit.

 

[yoshi10]

Just got an email from Tesla this morning (with below text) - not sure what it means - does it mean that Tesla has started to take off the 5k already at the dealership?

Starting now, receive a $5,000 rebate for any Model 3 purchased with a base price below $55,000. Maximize your incentives and start charging your car with the clean energy you produce.

 

[Nexus30]

Has anyone heard anything else? I emailed [email protected] and haven't heard back yet.

Looking to buy a Y, but wanted to make sure I qualified for the 5K rebate.

 

[Mrmacmackey]

New website with info about the NJ rebate program
h
//www.njcleanenergy.com/ev

 

[Nexus30]

New website with info about the NJ rebate program
h
//www.njcleanenergy.com/ev

Didn't see any new info, still just a holding pattern

 

[Mrmacmackey]

Didn't see any new info, still just a holding pattern

They created an email list for people who have purchased a car to get updated on how to apply for rebate. At least it's some progress.

 

[yoshi10]

They created an email list for people who have purchased a car to get updated on how to apply for rebate. At least it's some progress.

where is this list?

 

[scubastevo80]

While the NJcleanenergy site doesn’t appear to have changed, is anyone aware of an update to the program? Are rebate forms available yet?

 

[Nexus30]

Got an email today from New Jersey's Clean Energy Program, got excited as I thought there'd be an update about the rebate, but doesn't seem like it. It has more to do with state infrastructure.

https://www.nj.gov/bpu/pdf/publicnotice/Notice_Stakeholder_Meeting_EV_Straw_Proposal_5-18-20.pdf

 

[dropgems]

So in order to qualify for this 55k threshold if you wanted the long range, you would have to purchase full self drive after the fact and not at the build so you would qualify for the rebate? Is this right? Also... What is the cost of FSD after the initial build?

 

[lensovet]

Correct. There used to be a difference but these days pre-sale and post-purchase prices are the same. $7k.

 

[Nexus30]

Correct. There used to be a difference but these days pre-sale and post-purchase prices are the same. $7k.

it's going up to $8000 on July 1st.

 

[crmartin9]

Be sure to factor in NJ's sales tax in your decision making process. If you buy FSD (or another option) with the car at the time of sale, there will be no sales tax on the EV. If you purchase after delivery, you will get charged sales tax.