Illinois will have a $4,000 tax rebate starting July 1st for all electric cars? Should I cancel my order?

[Blacktes24]

Somehow I just stumbled across this news today even though it is a few months old. Long story short I just ordered a M3P thinking it would be delivered in March like the site says. Go thru with purchase and the dates for delivery are like May 20th-June 17th. After seeing there will be a $4000 rebate starting July 1 am I dumb to keep my order or should I just cancel and wait a couple more months? Keep in mind I'm not patient anyways and want the M3p yesterday. I haven't found anything in regards to needing to be a certain manufacture or model. Only that new and used EV purchases will get a $4,000 rebate from the state. Someone tell me it doesn't apply to Tesla so I can go ahead and get it asap rather than save 4k. haha

 

[RayK]

Seems like the $4K rebate will apply to a Tesla. There are fine prints in the law; must retain car and live in state for 12 months. There is also an income restriction.

Ref: Illinois Will Pay Residents $4K to Buy an Electric Car

edit: If it were me, yes, I would delay purchase. But then again, I waited 3 extra months back in 2018 thinking the AWD would be released "any day now". Then pulled the trigger for my RWD because Premium (free lifetime) Connectivity was ending in July. So I missed AWD by a couple of months.

 

[dmurphy]

I believe Tesla will allow you to delay delivery once, so maybe keep the order and ask to delay it? But that’s something you’d need to check with them on.

 

[smartypnz]

You said new and used? Take delivery and then in August sell it to your significant other.

 

[sightman]

4K is worth a delay to me, and I'm also not very patient. July 1st is also just several weeks past your end of delivery window. I imagine if you put your car on hold for 30 days you will take deliver following July 1st

 

[Whosyourbaba]

I’ve been following Illinois law but there’s not too much info besides couple articles. There’s supposedly income limit and it’s really low. I picked up mine early Feb since I didn’t want to wait and I had price locked in 1k cheaper.

If your delivery date is close to July, best to delay it for 4K. Keep your order, when you get your vin, place your order on hold, only can do 30 days now. You estimated dates might be pushed back anyways

 

[Blacktes24]

I’ve been following Illinois law but there’s not too much info besides couple articles. There’s supposedly income limit and it’s really low. I picked up mine early Feb since I didn’t want to wait and I had price locked in 1k cheaper.

If your delivery date is close to July, best to delay it for 4K. Keep your order, when you get your vin, place your order on hold, only can do 30 days now. You estimated dates might be pushed back anyways

Have you seen what the income level is? I've not seen anything on that.

 

[Blacktes24]

From the article linked above.

"The EV rebate is set to go into effect on July 1, 2022. Stipulations tied to the rebate require that an owner keeps the EV for 12 months, to register the vehicle and to live within the state for that year as well. Buyers will also be required to apply for the credit within 90 days of purchasing their vehicle and those rebates are restricted to customers whose average income doesn’t exceed 80 percent of the area’s median income."

Not sure what they consider an "area". I'm probably over the limit so will keep my order for now and see if any new info comes out thats more clear.

 

[BMWM3Man]

Everyone is different...I wouldn't. Hell car might cost 4k more by then....or do they guarantee told hold your price for that long?

 

[Blacktes24]

From the article linked above.

"The EV rebate is set to go into effect on July 1, 2022. Stipulations tied to the rebate require that an owner keeps the EV for 12 months, to register the vehicle and to live within the state for that year as well. Buyers will also be required to apply for the credit within 90 days of purchasing their vehicle and those rebates are restricted to customers whose average income doesn’t exceed 80 percent of the area’s median income."

Not sure what they consider an "area". I'm probably over the limit so will keep my order for now and see if any new info comes out thats more clear.

Everyone is different...I wouldn't. Hell car might cost 4k more by then....or do they guarantee told hold your price for that long?

I doubt I will wait. I don't think I will qualify anyways depending on income requirements.

 

[BMWM3Man]

From the article linked above.

"The EV rebate is set to go into effect on July 1, 2022. Stipulations tied to the rebate require that an owner keeps the EV for 12 months, to register the vehicle and to live within the state for that year as well. Buyers will also be required to apply for the credit within 90 days of purchasing their vehicle and those rebates are restricted to customers whose average income doesn’t exceed 80 percent of the area’s median income."

Not sure what they consider an "area". I'm probably over the limit so will keep my order for now and see if any new info comes out thats more clear.

I doubt I will wait. I don't think I will qualify anyways depending on income requirements.

OH there are income requirements? That figures...that's ridiculous but expected.

 

[Bikeman]

Requirements? Don't know what you mean by that, but there is an income limit. If you earn too much, then the credit does not apply. I don't know if there is an official declaration of what that 80% of "area" income is as yet. Originally, this credit was designed for a six county section of upper eastern Illinois.

 

[Chitownm3]

I'm in the same boat. My order just got connected with a VIN (woohoo!) so I am expecting end of month delivery, but I'm debating to release the vin and put my reservation on hold. Naperville has a $125k median income for reference and I feel many buying a Tesla exceeds 80% or $100k household income.

The one thing that is really confusing to me is that the language in the bill SB 2408 doesn't limit the income. It seems to be worded as it will prioritize based on income. Here is a snippet of the verbiage on page 946 of the bill:

"(c) The Agency shall make available in application materials methods for purchasers to identify as low-income. The Agency shall prioritize the review of qualified applications from low-income purchasers and award rebates to qualified purchasers accordingly."

I feel folks are jumping on old articles that there is an income limit, but that's not how the bill reads.

 

[renambot]

See also Illinois Green Energy Bill - $4,000 Rebate - Good/Bad News