jeffbco
Member
I'd rather the administration focus on something important like C-19...a restoration of the EV tax credits seems rather trivial when we are likely to hit 500,000 C-19 deaths before long.
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I have done a web search but could not find any congressional text/bill to expand the tax credit base beyond the 200k per manufacturer. Does anyone have a link to this? Please share.
I guess it would depend on how (if) it's implemented. The NJ EV Rebate was an after-sale rebate, and leasing qualified. It went to the consumer. When (if) they reinstate it this year, they've said it would be a POS discount, so I guess if you're leasing, that might either go to reduce the price of the car or towards the cap cost. The Federal tax rebate was a credit on income tax, so that would have gone to the consumer when you file your taxes the following year.How would the re-introduction of an EV tax credit affect those of us who lease a Tesla in 2021 as the credit is usually applied to the cap cost since it's received by the manufacturer, not the customer.
I ordered a short range RWD MY on Jan 14
Regular people still think Tesla cost a lot of money.
That's true. A few days ago I was answering the usual questions from an interested young man. Eventually, he worked up the courage to ask how much I paid. He was truly startled - he understood that a Tesla was going to sell in the $100k range.
I guess it would depend on how (if) it's implemented. The NJ EV Rebate was an after-sale rebate, and leasing qualified. It went to the consumer. When (if) they reinstate it this year, they've said it would be a POS discount, so I guess if you're leasing, that might either go to reduce the price of the car or towards the cap cost. The Federal tax rebate was a credit on income tax, so that would have gone to the consumer when you file your taxes the following year.
It's all hypothetical at this point.Yes - but what if you have already leased the vehicle in 2021 prior to the re-introduction of the Tax Rebate. Typically those are deducted from the cap cost when leasing since the manufacturer takes the Rebate as they "own" the car.
Looks like we’ll get an extended $7000 credit at some point under the new GREEN Act. But it will start the day the bill is enacted so likely the start of a quarter for IRS ease. Depending on how long it takes to get approved maybe July 1? I think this will create a lull in demand or at least a lull in deliveries. I see many orders with people requesting delayed deliveries to start after the bill enactment date.
Yes, demand is down. I was going to order last Friday....haven't ordered yet. $7,000 is way too much to just leave on the table.
Thank you Special Green - this makes alot of sense and is super helpful!From what I can see in the GREEN Act of 2021:
- the credit is extended (but reduced to $7k, and means-tested for used EVs); and
- Tesla would start counting-up sales from 200,000 on the day the bill passes. At 600k, the credit starts phasing-out
So the thing which starts on the day of passage is the timer for end-of-credit phase-out. The Act doesn't necessarily say that the $7000 credit begins on the same day as the new phase-out counter. For example, when the EVSE Install tax credit was passed at the end of 2019 (Form 8911), it gave a credit for the entire year 2019.
I think it's still a possibility that the credit will start on the same day that the new phaseout counter starts, but it could go either way. I'd suggest that anyone interested contact their senators and inform them that the bill as it is written today only depresses sales of the very EVs it is supposed to promote; and ask them to work to get it amended to be clearer , whether that's "beginning on Jan. 1 of the year of passage" or "beginning Q2 2021" or "beginning 1/1/2022". Anything would be better than depressing EV sales during the April-June automotive sales peak.