Locking in a price in anticipation of the Federal Tax Credit

[highstrunghero]

Just got a message to schedule a pick up next weekend. What are my chances to delay until 2022 and/or should I?
I have been thinking way too much about it...

You can give it a shot, but there is another thread on here that's pages of Tesla taking a pretty aggressive stance about people putting their orders on hold, and if believed in some cases orders being outright canceled even after assurance from a SA that a hold would be o.k. Personally I am not in the fear the hold camp, but just understand it doesn't come with zero risk.

Order on hold until March, email today order will be cancelled?!?

Has this happened to any of you? I placed my order on hold and have a March 1, 2022 delivery date in the app. I received an email that my order will be cancelled if I don't take delivery. I called Tesla and they told me they are only holding orders for 90 days. The app has it for March 1st...

teslamotorsclub.com

 

[Jeremy3292]

Update: Tesla told me you can only extend your order three months from order date.

 

[Sexy_owner]

Update: Tesla told me you can only extend your order three months from order date.

I wouldn't place too much weight on what your source has to say. I was told the same thing by my SA and when I called Tesla on the phone, she said "No problem" and extended my hold...

 

[Suns]

I was given the extended hold. Until Jan. Was assured I’d be safe. Then got an email today saying I just click ready now by the 16th or it’ll be canceled. They even tagged my TA to the email! They are super aggressive now

 

[Jeremy3292]

I wouldn't place too much weight on what your source has to say. I was told the same thing by my SA and when I called Tesla on the phone, she said "No problem" and extended my hold...

FWIW this wasn't my local SA. This was the Tesla customer service on the phone in Nevada.

Also the 90 day verbiage is now in the order agreement:

 

[PNWLeccy]

I was given the extended hold. Until Jan. Was assured I’d be safe. Then got an email today saying I just click ready now by the 16th or it’ll be canceled. They even tagged my TA to the email! They are super aggressive now

When did you order? I also have a current hold until 1/1 but my SA reached out to me saying I was in the "cancellation queue". However, I have not received a cancellation ultimatum email with the 12/16 deadline. They seem to be sending these weekly so maybe I'll get a 12/22 deadline which seems insane being during the holidays. I hope I don't have to deal with that as we are out of town from 12/17-31!

 

[Suns]

When did you order? I also have a current hold until 1/1 but my SA reached out to me saying I was in the "cancellation queue". However, I have not received a cancellation ultimatum email with the 12/16 deadline. They seem to be sending these weekly so maybe I'll get a 12/22 deadline which seems insane being during the holidays. I hope I don't have to deal with that as we are out of town from 12/17-31!

I purchased in august. Placed a hold in September. Hold was removed late November and placed again last week. Now this. Texted my SA, haven’t heard back yet. If you get your vin; they only give you 3 days to finalize and pickup so you better be quick too

 

[alset3000]

Well, I have been on hold for about a month and my 90 day order date is coming up in about a week. No cancel emails here. We'll see what happens.

I think where you live matters when it comes to making you get off hold. If you are west coast, there is more incentive to make you take the car this quarter as they can direct a car to you more quickly. I'm on east coast and I presume any cars on the way here for end of quarter are already or soon will be on a train. When I went on hold my EDD was well into spring. Not that EDD means anything.

 

[boriszima]

Good luck to those waiting for next year and for credit to get reinstated. It is a risk as price of the car did go up for not insignificant amount, but credit is still up in the air that is > than price hike. Risk and reward.

 

[t.e.s.l.a_dude]

Good luck to those waiting for next year and for credit to get reinstated. It is a risk as price of the car did go up for not insignificant amount, but credit is still up in the air that is > than price hike. Risk and reward.

Agreed, it is worth a shot if you can wait at least for 17 more days. In my case, I placed my order before the last price hike (i.e., before when it went up by $1K) and I put my order on hold until 1/1/2022. I am still maintaining my original price. Fingers crossed that the bill passes. It is now up in the air, we'll wait and see.

 

[berman2921]

A bad joke would be if the bill passes sometime in 2022 but won't apply retroactively to the cars bought before the bill passed. My order is on hold until 1/3/22

 

[t.e.s.l.a_dude]

A bad joke would be if the bill passes sometime in 2022 but won't apply retroactively to the cars bought before the bill passed. My order is on hold until 1/3/22

This could actually happen though the probability of it being applied for vehicles purchased after 1/1/2022 is greater IMO. Regardless, my hold ends on 1/1/2022 and I do not plan to extend further since right now the trade-in of my current car is extremely high and that could go down if I wait more.

 

[Sunshine Speed]

Why would they make the bill retroactive to Jan 1 2022? The purpose of the bill is to incentivize purchases of EVs. If somebody already bought an EV in January before the bill passes at some later date, then that's a waste of money for taxpayers. My prediction is that the EV tax credit will be effective the date that the bill passes Congress.

 

[PNWLeccy]

Why would they make the bill retroactive to Jan 1 2022? The purpose of the bill is to incentivize purchases of EVs. If somebody already bought an EV in January before the bill passes at some later date, then that's a waste of money for taxpayers. My prediction is that the EV tax credit will be effective the date that the bill passes Congress.

While I agree with your logic of not making this bill retroactive, I believe they could make it 1/1 to make it easier for tax purposes. The bill currently states you will get the refund when filing your taxes for 2022 before becoming a point of sale refund in 2023+. For auditing purposes it would make things much more complicated to for example, exempt people from 1/1-1/15/22 but allow for all others filing.

 

[Suns]

While I agree with your logic of not making this bill retroactive, I believe they could make it 1/1 to make it easier for tax purposes. The bill currently states you will get the refund when filing your taxes for 2022 before becoming a point of sale refund in 2023+. For auditing purposes it would make things much more complicated to for example, exempt people from 1/1-1/15/22 but allow for all others filing.

On top of this, if manchin makes changes (he pretty much will), it goes back to the House for approval then the president. It Manchin doesn’t change the current date rule then it’s staying as is. There’s no way the house is going to make anymore changes and force it to go back. IMO of course lol

 

[t.e.s.l.a_dude]

On top of this, if manchin makes changes (he pretty much will), it goes back to the House for approval then the president. It Manchin doesn’t change the current date rule then it’s staying as is. There’s no way the house is going to make anymore changes and force it to go back. IMO of course lol

Once it goes from the Senate to the House, that's it. The House needs to take it or leave it, there is no sending back to the Senate again. With this said, I agree that for tax purposes the likelihood for this to be effective from 1/1/2022 makes sense, otherwise it will be complicated like saying it is valid for cars purchased on or after 2/17/2022.

Edit: On a second thought though, the tax code is already super complicated, so saying it is valid after 2/17/2022 will not add much more complexity to it

 

[gvme]

Lets hope its 1/1.

 

[t.e.s.l.a_dude]

Lets hope its 1/1.

Yes, fingers crossed.

 

[alset3000]

Today is 90 days from my order date. I don't plan on extending past my hold date of 12/31 as I think there will at least be some clarity on the direction of BBB before then. I also think if BBB is ever signed into law, regardless of date, the EV credits portion will be for vehicles acquired after 12/31. Reason being that the law effectively changes the existing program too, and it would just be confusing for taxpayers to have to use some arbitrary date and two sets of rules. I think it will be one set of rules for tax year 2021 and another set (if passed) for tax year 2022.

 

[Unclepaul]

It may be, that for many, if you hold your order till 2022, you will need to pay the 2022 price.
No assurance from anyone if the Tax Credit will be passed for your specific car, how much it will be, and what date it will go into effect.
Tesla must do what it needs to do to get all their 2021 production delivered in 2021.
Right now, most trade ins have very high valuations. No assurance of what the used car market pricing will be in 2022.
Current Federal and State offerings are not transparent, and lots of behind the scenes wrangling going on.

Many want to stack all the benefits of earlier pricing, latest vehicle improvements, hightest tax credits, great trade in values and getting super high demand vehicle models. Like playing Squid games where you don't know the rules until after you make your choice.