CO Purchase - Anyone successfully receive CO tax credit up front?

[Brave Ulysses]

Considering a purchase soon in CO but wondering if anyone has been successful receiving the CO state tax credit upfront?

It appears the CO state tex credit DOES permit dealers and/or financial institutions to instantly apply the tax credit ($5K). However, my Tesla representative in CO says that because Tesla is not technically a "dealer" in the state of CO they cant do it. But, if that is true, I'm not sure why that would prevent the bank providing the loan to do it.


Anyone know more? I'd definitely rather get the 5K credit now to the sales price (and thus lower sales tax and lower loan payment) than receive it next April.

 

[ground_gainer]

I recommend you just do it yourself at tax time. You don't want someone to mess it up and claim it and not pass it on to you properly.

 

[Brave Ulysses]

I recommend you just do it yourself at tax time. You don't want someone to mess it up and claim it and not pass it on to you properly.

My understanding is that the CO tax credit is handled pretty differently than the federal tax credit and that the upfront credit is pretty straight forward and common.... for all other qualifying cars/manufacturers not called Tesla. It’s actually called a “point of sale credit”. It’s intended to chop 5k off the purchase price.

But could be wrong on that.

 

[ground_gainer]

You can read the tax law yourself. The point of sale is optional for the dealer and they can take a couple hundred bucks as a processing fee. https://www.google.com/url?sa=t&sou...FjABegQIBhAB&usg=AOvVaw17nvkc9YGjEPa-0LE9NxKk

 

[ground_gainer]

I got a Pacifica hybrid last year and my dealer was 100% clueless on the tax credit. They actually filed that the vehicle was a gas vehicle with the DMV and I had to do a bunch of extra stuff to get it fixed so the last thing I wanted those guys doing was filing my tax credit on my behalf. I really recommend you do it yourself

 

[Moderatefan]

I asked in 2016 the sales person in Park Meadows store and he checked with the manager, got the same answer as you - b/c we are not a dealer you have to file for it yourself when doing taxes.

 

[Brave Ulysses]

You can read the tax law yourself. The point of sale is optional for the dealer and they can take a couple hundred bucks as a processing fee. https://www.google.com/url?sa=t&sou...FjABegQIBhAB&usg=AOvVaw17nvkc9YGjEPa-0LE9NxKk

Thanks. I think it’s pretty obvious from my question that I read the tax law myself.

My question wasn’t about what is in the tax law but how it’s applied by Tesla.