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Model 3 Subsidies

Discussion in 'California' started by Xepa777, Aug 1, 2017.

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  1. Xepa777

    Xepa777 New Member

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    Made a reservation on the same day as the launch event and have a quick question now.

    The $7500 California subsidy for electric vehicles, if I wait until the 220 mile/charge battery car in the February-May range, that subsidy will be gone by then right? If I get the car with the 300 mile/charge battery (that will be delivered this Fall) what's the likelihood that I get the subsidy? Does anyone have any anecdotal experience or data around this? Thanks!
     
  2. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Well-Known Member

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    If you mean the Federal Tax Credit, Tesla's expected to hit the 200,000 mark during 2018Q1.
    The credit would be based on when you acquire the vehicle, where acquiring it means that the title was issued to you (so the issue date on the title, not the date you received it):
    2 quarters at 100%: Acquire 2018Q1 or 2018Q2 $7,500
    2 quarters at 50%: Acquire 2018Q3 or 2018Q4 $3,750
    2 quarters at 25%: Acquire 2019Q1 or 2019Q2 $1,825
     
  3. Xepa777

    Xepa777 New Member

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    So since I made the reservation last year does that count? Or no? I guess that's when I make the full payment for the car, regardless of when it's actually delivered?

    So basically, if I get the $44,000 car there's a good chance I get the full $7500 federal subsidy (since you said it goes until 2Q 2018) and if I wait until the $35,000 version, it's a safe bet that I'll get a $3,750 subsidy?

    Sorry this is not my forte hahaha.
     
  4. kev1n

    kev1n Member

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    you will get the 7500 for sure if you get the long range model, if you can hit the earlier months you can also get the full 7500 on the lower model but that risk is up to you.

    its about ~5000 difference if you get the 310 with full 7500 vs 220 with half the tax credit.

    also CA has another $2500
     
  5. Xepa777

    Xepa777 New Member

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    Isn't the CA $2500 subsidy for low income earners only? What's the parameters behind that again?
     
  6. kev1n

    kev1n Member

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    i do not believe there is a restriction,

    its 7500 federal tax
    2500 CA state tax
     
  7. mblakele

    mblakele radial cross member

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  8. racpuc

    racpuc Member

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    $150K is low income for SF residents
     
    • Disagree x 1
  9. Jason S

    Jason S Model S Sig Perf (P85)

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    • $150,000 for single filers
    • $204,000 for head-of-household filers
    • $300,000 for joint filers
    I think that's still in the clear for most people looking at a Model 3, even in California. ;)
     
  10. ggr

    ggr Roadster R80 537, SigS P85 29

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    The CA $2500 is a grant, it has nothing to do with tax. You apply for it on a form and get it (eventually).
     
  11. Troy916

    Troy916 Member

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    Note first production is a $49,000 car, not 44 (it's Long Range plus Premium Upgrades Package).
     

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