More Model 3 unveil invites coming

[ModelNforNerd]

Based on that, it implies you got $7500 back.

No, got back just under $4800, on a tax liability of over $37K. We absolutely would qualify for the full $7500 credit, if I can get my car in time.

 

[dhanson865]

This has already been beaten to the ground. Don't have the exact numbers in front of me, but you don't have to make <I>that</I> much in order to have $7500 in tax liability. I've honestly only seen one or two people on this forum who have said that they wouldn't be able to qualify for the full credit.

I'm not even close to making the full tax credit. The vast majority of people in flyover states don't make the $70,000+ it takes to get the full credit.

 

[Trev Page]

http://jalopnik.com/the-tesla-model...ource=jalopnik_facebook&utm_medium=socialflow

From Jalopnik this morning.

The line "(And of course, to take a quick spin in what we’ve been working on.)" has me all sorts of excited, because this implies a working prototype.

Is this the first model where Elon finally underpromises/overdelivers?

We're you not around for the Model S and Model X reveals? Tesla *always* has drivable prototypes at reveal events.

 

[Foxhound199]

While the reason Tesla gave on prioritizing current owners is to say thank you, I suspect the real reason is that they would prefer early production cars go to people who are familiar with Tesla and EVs to help them work out the bugs/defects.

I suppose I could see that, but I think Tesla has to be very careful here. They're moving from a market where things like prestige and exclusivity are valued to one where it's found distasteful. Like it or not, the future of Tesla will not be funded by people who can afford $100,000 cars, and it's going to be a very fine line rewarding the loyalty of those early customers while embracing the values of their new customers. The most ridiculous argument I've heard is that those early buyers are the reason Tesla exists today, and they should be rewarded. I would argue that they have been very well rewarded by getting to experience the future of driving years before everyone else. But Tesla is going to need the interest and enthusiasm of those who cannot afford a Model S if it wants to succeed in the future, so anything that diminishes that seems like a dumb move to me.

 

[dhanson865]

A heads up on the income needed for the full tax credit (that is, to get at least $7500 in tax liability), at least for 2016 numbers. This is the income reported on W-2 after pre-tax deductions like 401k contributions are taken out, along with other income like interest and dividends.

Single, not a dependent, no kids, no adjustments or itemized deductions: $57,250.
Married, no kids, no adjustments or itemized deductions: $77,000.

Add $4,050 for each dependent you have, and $X-$6300 or $X-$12,600 if married if you have $X in itemized (Sched A) deductions. Subtract any adjustments straight out (Trad IRA contributions, student loan interest deduction, tuition expenses, etc).

You mention it below but that $57,250 in blue is misleading. You have to make way more than that to owe that much. Itemized or standard deductions alone take you into the upper $6x,000 range. Add any other tax credits and the number rises higher.

 

[Bimbels]

Someone posted what line on your tax return to look at to see how much your actual liability was. If someone could repost that info maybe it would clear up any doubt.

 

[ModelNforNerd]

Someone posted what line on your tax return to look at to see how much your actual liability was. If someone could repost that info maybe it would clear up any doubt.

Line 63.

 

[Petra]

They're moving from a market where things like prestige and exclusivity are valued to one where it's found distasteful.

Have you ever met a stereotypical BMW 3-series owner? That's the market they're heading into.

 

[Snow Drift]

If you don't owe sufficient taxes to use all or some of the $7,500 Fed credit you should lease. (I'd lease no matter what considering advances in tech every 3 years and risk of resale value on a lower tech model).

The federal credit is $7,500. That’s a bottom-line credit, so if you’re not paying at least that much in federal taxes, you’re not getting the full benefit. (Various states offer different credits, or none at all.)

That leads people to lease EVs instead. The financing company that buys the new car from the automaker gets the full tax credit, so it can pass those savings to the lessee in the form of lower monthly payments.

Source: Why It’s Cheaper to Lease a New Electric Car Than to Buy One Used

 

[Foxhound199]

Have you ever met a stereotypical BMW 3-series owner? That's the market they're heading into.

Maybe I'm misguided, but I think Tesla can do better than that. Take me for example: I drive a Mazda 3. Cheap car. Could I afford a BMW? Sure. Would you ever catch me driving one? Not a chance, it simply isn't the image I want to project. I think you'll find a lot of people buying the Model 3 who weren't in the market for a luxury car.

 

[Max*]

This is the income reported on W-2 after pre-tax deductions like 401k contributions are taken out

IIRC, the big 3 are: 401k, FSA accounts, and health insurance premiums.

 

[Petra]

Maybe I'm misguided, but I think Tesla can do better than that. Take me for example: I drive a Mazda 3. Cheap car. Could I afford a BMW? Sure. Would you ever catch me driving one? Not a chance, it simply isn't the image I want to project. I think you'll find a lot of people buying the Model 3 who weren't in the market for a luxury car.

Oh, I'm sure there will be a fair number of market jumpers like yourself and people eager to stretch into the $35k+ price point of the Model 3... but I'm not sure that really changes things--still a luxury car in the $35k+ price point group.

To be fair, I had never spent more than about $36k on a car before the Model S, but I know I'm in the minority of current Tesla customers.

 

[Bimbels]

Oh, I'm sure there will be a fair number of market jumpers like yourself and people eager to stretch into the $35k+ price point of the Model 3... but I'm not sure that really changes things--still a luxury car in the $35k+ price point group.

To be fair, I had never spent more than about $36k on a car before the Model S, but I know I'm in the minority of current Tesla customers.

We were in the same boat - and actually that is a lot of MS drivers. Our most expensive car previously was around 40K. There have been articles about how MS owners made the jump, and there has been speculation that many who have never spent 35K+ on a car will make the same jump to the M3. Personally I find that very exciting for the future of both Tesla and EVs.

 

[Foxhound199]

To be fair, I had never spent more than about $36k on a car before the Model S, but I know I'm in the minority of current Tesla customers.

See, that's exactly what I mean. Tesla has the ability to effectively change the class of car you consider buying. I think they've done a great job so far in touting functionality over opulence in a way luxury car makers seldom do, and I think that really speaks to people like you and me. I just think it's all the more important to keep doing that and working to define their image for 30-50k car range buyers. They run a real risk of damaging their brand image to those buyers if they are seen as catering preferentially to the very wealthy.

 

[erthquake]

Maybe I'm misguided, but I think Tesla can do better than that. Take me for example: I drive a Mazda 3. Cheap car. Could I afford a BMW? Sure. Would you ever catch me driving one? Not a chance, it simply isn't the image I want to project. I think you'll find a lot of people buying the Model 3 who weren't in the market for a luxury car.

I'm still driving my first car, a 1999 Mazda Protege ES (stick), the predecessor to the Mazda 3. I've been holding onto it hoping for something like the Model 3 to come along. The timing couldn't be better.

I like BMWs, but if not for the Model 3 coming out, I likely would've gotten a Prius or another Mazda 3.

 

[erthquake]

As a non-tesla owner, I'm fine with S/X owners getting priority. They're more likely to follow through and buy the highly optioned models that will be first off the assembly line. Like someone else mention, they're probably also more likely to be willing and patient "beta-testers." Not that the Model 3 will be riddled with problems, but S/X owners will be more forgiving of any issues because they already have experience with Tesla's stellar customer service that quickly fixes anything that comes up.

 

[SureValla]

I like BMWs, but if not for the Model 3 coming out, I likely would've gotten a Prius or another Mazda 3.

I'm in the same boat, I have a 2007 gen 2 prius with 230k miles on it (all mine). Were it not for the model 3 the max I'd be spending on my next car would be ~34,000. It would probably be a top of the line volt since I'm not a fan of the leaf or upcoming bolt (nor do I like the gen 4 prius)

I'm not a fan of bmw 3 or lexus IS type cars as they get awful milage and take premium gas

 

[tga]

Someone posted what line on your tax return to look at to see how much your actual liability was. If someone could repost that info maybe it would clear up any doubt.

Line 63.

Actually, it's line 47. After line 47 you calculate various credits on lines 48-54 (54 is where the EV tax credit from 8936 is entered), and total the credits on line 55. If 55>47, you enter 0 on line 56. Then you add in other taxes (lines 57-62) - these can't offset the EV tax credit, because they are added later, after the credit has been factored in.

 

[tga]

If you don't owe sufficient taxes to use all or some of the $7,500 Fed credit you should lease. (I'd lease no matter what considering advances in tech every 3 years and risk of resale value on a lower tech model).



Source: Why It’s Cheaper to Lease a New Electric Car Than to Buy One Used

This only works if you don't plan to buy the car after the lease ends. Tesla leases (like many EV's) account for the tax credit by artificially inflating the residual by $7500. You'll get screwed if you buy the car at lease end (paying $7500 more than the car is worth).

 

[Reeler]

I had two tix from the referral program. I won two more, but won two more I think. Not sure if they will figure out that I have four or knock me back to two.