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A $1000 increase November 4
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mephiska
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Not as currently written. The Senate version (passed way back in August) does backdate to May 2021, but the House version explicitly says changes to EV tax credit apply to vehicles "acquired after Dec 31, 2021". No idea which of the two provisions will get through reconciliation, but my bet is they won't give free taxpayer money to people who bought an EV before this bill is signed.
Yeah it is a matter of how high (and elastic) the demand is deep into next year. Apparently we don’t have that transparency but you could imagine they’d be sold in hours when Tesla puts those declined Late Nov/early Dec declination in generic inventory—if the demand on projected Jun delivery is very strong. Not too bad an 8k half year premium
Welp... I just decided to absorb the extra $1k increase since I had the MSM as my original option.
With that being free now, I was like eff it, that will be everywhere so I decided to switch to the Deep Blue Metallic and switched from the black interior to the white interior. I've seen some of the photos of the white interior w/ Deep Blue Metallic & it looks amazing.
So my MYP went from 62,990 to 64,990. Whatever. A difference of $2k so whatever.
I'm definitely gonna save a bit more for at least front PPF as well as putting ceramic protection on the seats.
With that being free now, I was like eff it, that will be everywhere so I decided to switch to the Deep Blue Metallic and switched from the black interior to the white interior. I've seen some of the photos of the white interior w/ Deep Blue Metallic & it looks amazing.
So my MYP went from 62,990 to 64,990. Whatever. A difference of $2k so whatever.
I'm definitely gonna save a bit more for at least front PPF as well as putting ceramic protection on the seats.
I think the price increase is synchronized with the possible tax credit. As soon as the tax credit is gone the price of the car will drop.
El joe
Active Member
Sure, makes sense. On the other hand, with Model Ys being sold out until 2022, it could also drag out. Tempting to sell now and put it into Tesla stock, TBH...
The current language would seem to indicate POS reductions would not be effective until 2023. It would just be a tax credit, like it always has been in 2022. And good luck to anyone who doesn’t have a tax burden large enough to claim the entire credit.
…if anything is even signed into law. They aren’t call the “Do Nothing” Congress for no reason.
In the vast majority of cases, if you are not paying 8k in taxes from your income then maybe you shouldn't be shopping for a new car anyway. Could be a problem though if you have no income ... so Elon Musk maybe ineligible for the tax credit.
Maybe they have kids? Who are you to say whether someone should or shouldn’t buy a car at any level of income? Maybe they inherited the money? Maybe they downsized their home and wanted to get an EV?
Loads of scenarios where families who don’t make >$150,000 annually would buy a Tesla. Prejudices like that are ridiculous. The cars aren’t actually that expensive. Look at prices of new SUVs or trucks. Or even new ICE family cars in the current market
Nothing to do with anyone else and whether they should be able to buy a vehicle. Doesn’t even matter in the slightest way.
To pay $8,000 in federal taxes your income should be somewhere between $60,000 and $70,000. No idea where you got >$150k At $60k income new cars ARE BLOODY expensive! This is why MOST families buy USED cars. Please calibrate to reality.
Standard deduction for filing jointly reduces that number by $18,800. Kids are a credit further of $3000 - 3600 each. Two small kids in a family making $70,000 pay taxes on AGI $45,200 WITH $7200 tax credit straight off the top.
Reality says they don’t have a large tax burden at all. The math shows they should owe a TOTAL federal tax of ~$1,000 in this scenario. A far cry from $8000.
I’m calibrated just fine.
Edit: standard deduction math error.
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For a family of four, the average living wage is $68,800. The best piece of financial advice for a family of four with $70,000 household income would be to stay away from buying new vehicles, especially in the price range of Tesla. My first new car was a $16k Nissan Versa when my income was about that, but that was a long time ago and I didn't have 2 kids.
Also, the standard deduction for 2021 filling jointly is $25,100, not $18,800
A family of 2 with 2 kids will pay $7500 in federal taxes if their adjusted income is $65,800 + $25,800 + $3000*2 (kids over 5) = $97,600
However, if you are single with no kids, then you need to have the annual income of $53,400 (adj) + $12,550 =$65,950
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