My Model 3 Got Wrecked Today :(

[bhzmark]

You won't find me saying this too often on this forum, but here goes:

you are totally right and I'm totally wrong.

I was vaguely recalling hearing that there was a rule that you lost the credit (had to recapture it) if you sold the car within a certain time period. I thought I found it and stopped reading -- literally mid-sentence. Well done. thanks.

Aren't you ignoring the "and knows or has reason to know..." part?

Anyway if we keep reading:

(ii)Exception for disposition. Except as provided in paragraph (b)(2)(i)(C) of this section, a sale or other disposition (including a disposition by reason of an accident or other casualty) of a qualified electric vehicle is not a recapture event.​

This is not legal or tax advice. But the way I read it, transferring a totaled EV to insurance will not trigger recapture. Parted out? Not a problem. Even if someone buys it at auction and drops an ICE into it, the taxpayer doesn't know that and has no reason to know that.

 

[EVDRVN]

I think what the previous poster is trying to say is OP may not have enough tax liability to qualify for two full $7,500 tax credits in the same tax year, not that there is a question whether he can keep the credit he (will) get for the now wrecked 3.

That does not matter. If you buy a car for $20K and get a $5K credit you paid $15K. If it is totaled and you get $20K from insurance you are whole, the credit is irrelevant as it is NOT deducted from the insurance payment. If you get the rebate again it is only a bonus to the buyer as they are paid based on the VALUE of the car not the cost less rebates.

 

[TheLocNar]

So glad you and the family are ok. A replacement car is really just a minor detail in all of this.

I could see Tesla using this as a "They lived" kinda thing like Subaru does.

 

[ohmman]

Mod note: a few posts moved to politics.

 

[tizio]

That driver that fled the scene is going to be in for a rude awakening when he realizes street racing down a highway with license-plate-photo-based tolling is a really stupid idea.

 

[drawfour]

That driver that fled the scene is going to be in for a rude awakening when he realizes street racing down a highway with license-plate-photo-based tolling is a really stupid idea.

I-90 doesn't have license plate based tolling, since it isn't a toll road.

 

[tizio]

I-90 doesn't have license plate based tolling, since it isn't a toll road.

Aah you're right, that's 520. Surely the myriad DOT cams will suffice then.

 

[drawfour]

Aah you're right, that's 520. Surely the myriad DOT cams will suffice then.

Oh definitely. I'm sure it was caught on camera somewhere. Hopefully the Tesla cameras managed to capture it. That would be nice.

 

[voip-ninja]

Oh definitely. I'm sure it was caught on camera somewhere. Hopefully the Tesla cameras managed to capture it. That would be nice.

The problem is that normal traffic cameras can't read license plates. So then it comes down to whether the police have the resources to do an investigation based on the color/make of the car.

Short answer is that this punk probably got away with it.

 

[drawfour]

The problem is that normal traffic cameras can't read license plates. So then it comes down to whether the police have the resources to do an investigation based on the color/make of the car.

Short answer is that this punk probably got away with it.

That's true, they're usually quite zoomed out to get a larger view. But it just takes one, and only probably requires getting a couple digits. Perhaps a witness managed to get a couple digits from the plate. Probably 2 digits is enough along with make/model/color to get a reasonably small list of suspects. If it was a Civic or something, then maybe it would require more.

 

[Az_Rael]

Short answer is that this punk probably got away with it.

Based on my experience when an unlicensed, uninsured driver was looking at his cell phone and hit me at highway speeds, yup. The cops showed up and the guy was there and they essentially did nothing.

They told me they "could" take him to jail, but there wasn't any point since he would be let out anyways. I guess it's only a misdemeanor here to drive around without a license or insurance and be a distracted driver on a narrow two lane canyon road and nearly kill someone.

 

[voip-ninja]

Based on my experience when an unlicensed, uninsured driver was looking at his cell phone and hit me at highway speeds, yup. The cops showed up and the guy was there and they essentially did nothing.

They told me they "could" take him to jail, but there wasn't any point since he would be let out anyways. I guess it's only a misdemeanor here to drive around without a license or insurance and be a distracted driver on a narrow two lane canyon road and nearly kill someone.

Yes, the cops have better things to do in case someone was killed, and maybe even then they won't do anything about it.

My wife was rear-ended by an uninsured motorist which resulted in $4,000 in damages, got his plate # and turned it all over to the highway patrol... they "investigated" for a few weeks and then said "we can't find the guy" case was closed.

Our tax dollars at work.

 

[Candleflame]

They would claim it once on the totaled car and then again on a new car. Since both would be purchased in the same year, they could take the tax credit twice in one year.

the insurance will reimburse him the full cost of the car. not the cost of the car minus the potential tax break he will get.

 

[MorrisonHiker]

the insurance will reimburse him the full cost of the car. not the cost of the car minus the potential tax break he will get.

In my statement, "they" referred to the owners of the car who would be claiming the tax credit once on the original car and potentially once on a replacement car. I'm not referring to the insurance company at all so I'm not sure why you quoted my message.

 

[Candleflame]

Maybe so but he would only be claiming the tax credit once per car.

he can claim the tax credit on the destroyed car.

what he wants to do is to claim the tax credit on the destroyed car, get the same amount reimbursed from the insurance and then claim the tax credit again on a new car.

 

[MorrisonHiker]

he can claim the tax credit on the destroyed car.

what he wants to do is to claim the tax credit on the destroyed car, get the same amount reimbursed from the insurance and then claim the tax credit again on a new car.

Yes. That's what we've been saying. He's still only getting the tax credit twice.

 

[dennisvab]

This looks like the OP's vehicle at the auction in Seattle.

https://www.iaai.com/Vehicle?itemID=28405632&RowNumber=57&loadRecent=True

 

[tutugirl]

Someone sideswiped me this morning and did a job on the front passengers side. Thankfully it was on a surface street and the worst that happened to me was a bruised right arm (yes, I got X-rays just in case). My body shop is telling me that it’s a minimum of six weeks to get the parts in.

Anyone else have experience getting bodywork done on their M3?

 

[Swampgator]

This looks like the OP's vehicle at the auction in Seattle.

2018 TESLA MODEL 3, 22541813 | IAA-Insurance Auto Auctions

You know whats sad is that that car may go for more than the insurance company will pay OP because of either competitors or aftermarket guys wanting that battery and motor tech

 

[Hans L]

View attachment 310870 Someone sideswiped me this morning and did a job on the front passengers side. Thankfully it was on a surface street and the worst that happened to me was a bruised right arm (yes, I got X-rays just in case). My body shop is telling me that it’s a minimum of six weeks to get the parts in.

Anyone else have experience getting bodywork done on their M3?

Bummer. Hate to say, but won't be cheap.

Here's some vids/write-ups on M3's at the body shop:

Tesla approved body shop highlights Model 3 repair in time-lapse video

https://www.carscoops.com/2018/05/can-spot-7000-worth-damage-tesla-model-3/