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General "Should I Wait for Upgrades" Thread

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Don't hope for much, much of the EV tax credits are favoring low income. They are trying to move on the EV is for any person movement, not just the rich.

That may be true of the California rebates. The federal tax credit was the opposite in that only those who paid enough in taxes could take advantage of them. Anyone who didn't pay $7500 in federal tax in one year was SOL. I think the Biden administration is another good reason to wait at least until 2021.
 
That may be true of the California rebates. The federal tax credit was the opposite in that only those who paid enough in taxes could take advantage of them. Anyone who didn't pay $7500 in federal tax in one year was SOL. I think the Biden administration is another good reason to wait at least until 2021.

CA state rebate is no longer tied to income.

I believe Biden has said that he would push to limit a renewed federal EV tax credit to $250k household income.
 
So, like most things concerning Biden's tax plan, the vast majority of Americans would not be affected, or in this instance, excluded.

If we were making $250k+ I would be buying a Taycan.

I think you'd be surprised at how many people in that income bracket are buying Teslas. That's middle class or just slightly above in the Bay Area.
 
I think you’d be surprised that the Bay Area is a small fraction of the overall US population.

And a huge fraction of Tesla ownership.

Tesla Model 3 Demographics: Who Buys Model 3s by Age, Income:

tesla-model-3-state1024x626.png
 
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So, like most things concerning Biden's tax plan, the vast majority of Americans would not be affected, or in this instance, excluded.

If we were making $250k+ I would be buying a Taycan.
Not to hijack this thread but 250k plus are struggling to even come to grips with paying 50k for a model y
the Rule I was always taught is 36% of your income is the MAX you can spend on a car. Should likely apply to net income. Or smart would be take home income.
In California with taxes you’d have to make 500k to afford a 100k car (assuming you’re conservative and take home is 300k). That’s also assuming you only have one car, no family, no retirement plans, etc.
 
Not to hijack this thread but 250k plus are struggling to even come to grips with paying 50k for a model y
the Rule I was always taught is 36% of your income is the MAX you can spend on a car. Should likely apply to net income. Or smart would be take home income.
In California with taxes you’d have to make 500k to afford a 100k car (assuming you’re conservative and take home is 300k). That’s also assuming you only have one car, no family, no retirement plans, etc.
That stuff was based off old ass logic
 
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The logic is still good. There are people that don't understand the basics of credit card usage and savings. That logic is a good guideline for those who don't understand.

Just because you can "afford it", doesn't mean you should.
Interest rates are low and no reason for huge money down. Can invest pretty safety instead. These cars have less maintenance and cost to own. It is not like buying a AMG, At least how i see it.
 
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Not to hijack this thread but 250k plus are struggling to even come to grips with paying 50k for a model y
the Rule I was always taught is 36% of your income is the MAX you can spend on a car. Should likely apply to net income. Or smart would be take home income.
In California with taxes you’d have to make 500k to afford a 100k car (assuming you’re conservative and take home is 300k). That’s also assuming you only have one car, no family, no retirement plans, etc.

I guess if you were paying cash I could see that making sense. It doesn’t make sense to me with financing. People typically finance for minimum of 3 years, some are extending Tesla’s out to 7 years because interest rates are a joke and Tesla’s tend to hold their value well.
 
So, like most things concerning Biden's tax plan, the vast majority of Americans would not be affected, or in this instance, excluded.

If we were making $250k+ I would be buying a Taycan.

I make that money and would not buy a Taycan. Poor charging options, higher insurance and I suspect not as much regular update as Tesla. I don't care for the falcon wings X or the long in the tooth Model S. The Y hits the sweet spot.
 
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