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$7000 Tax Credit in 2021 - retroactive?

glide

Active Member
Jun 6, 2018
3,699
3,865
USA
I 100% think that the tax code is unfair and allows for way too much manipulation by folks but do you avoid taking tax credits available to you that you don't morally agree with? I just don't know what your point is for us normies who take what credits are dulled out to us while rich people can restructure/hide/move their money in ways to avoid paying proportional taxes, if any.

If there were tons of EV alternatives at ~$25k that have the same real life usability (range and charging network) for families, especially single car households, like mine, I would be more inclined to agree with your "luxury product" claim. When cross shopping the Model 3 vs. Civic, the 5yr cost of ownership are pretty much the same with the cost savings increasing over time which makes it actually a prudent financial decision (Shocker: Tesla Model 3 vs. Honda Civic — 15 Cost Comparisons Over 5 Years). The subsidies are helping people shoulder the upfront cost difference.
I’ve never personally taken a tax credit on a Tesla. And I have owned several.

My point is; the credit does not currently exist and it WILL NOT be coming back without caps and restrictions for the reasons I mentioned.

All of this is to say; if you want a Tesla, just buy it now and don’t wait for a handout.
 
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PNWLeccy

Active Member
Jul 11, 2019
1,192
971
Seattle
I’ve never personally taken a tax credit on a Tesla. And I have owned several.
Neither have I but those who qualify can decide to take it if they want or need it.
My point is; the credit does not currently exist and it WILL NOT be coming back without caps and restrictions for the reasons I mentioned.
Correct, the credit does not exist at the moment but I have not seen anyone argue they shouldn't have caps or restrictions...
All of this is to say; if you want a Tesla, just buy it now and don’t wait for a handout.
Many people have made this point. People who need it now, should order now. People who don't need it now can wait to see how tax incentives shake out if they want.
 

glide

Active Member
Jun 6, 2018
3,699
3,865
USA
Neither have I but those who qualify can decide to take it if they want or need it.

Correct, the credit does not exist at the moment but I have not seen anyone argue they shouldn't have caps or restrictions...

Many people have made this point. People who need it now, should order now. People who don't need it now can wait to see how tax incentives shake out if they want.
You have seen people argue there should be no caps or restrictions. They are Tesla buyers who are on the fence. This forum is littered with them.

Anyone who can afford a Model S or X does NOT need a tax break on it.
 

michaelwb

Member
Apr 2, 2013
155
169
Los Angeles, CA
Tax credit is pointless right now since Tesla (and practically all other car makers) is supply-constrained.

Tesla is selling all inventory cars with $10K FSD for a reason, because they know there are people willing to pay more to get a car sooner.
 

OCJeff

OD: 6/4 MYLR5 White/White/20” Del. 9/16
Feb 18, 2021
860
1,102
SoCal (RSM)
Tax credit is pointless right now since Tesla (and practically all other car makers) is supply-constrained.

Tesla is selling all inventory cars with $10K FSD for a reason, because they know there are people willing to pay more to get a car sooner.

FSD can always be removed prior to final purchase. Unless it’s used. Then you cannot.
They are just trying to rake in the extra revenue.

One downside to waiting for government action (inaction)...The price has gone up 3K or nearly half the possible incentive.
Correction: $4,000 in increases since March 2021.
 
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