New Jersey: EV Rebate credits - retroactive to Jan 17th 2020

[dmurphy]

FYI for anyone looking to buy an EV in New Jersey ...

The governor's office announced today that the EV credits are *retroactive* back to January 17th of this year, when he signed the bill ....

Office of the Governor | Governor Murphy Affirms Electric Vehicle Rebate Eligibility Effective as of January 17, 2020

So if you are waiting to buy a Tesla ... don't! Hop to it!

For those not familiar with New Jersey's EV program ...

#1 - There's now a $5,000 rebate for EVs with an MSRP under $55,000.
#2 - There is also a $500 rebate for home EV charging infrastructure
#3 - EVs are (no matter the MSRP) exempt from NJ sales tax

It's a super program. Not too many things in NJ make you say "wow, this is excellent!" -- but here we are.

The $5k rebate is supposed to come off the vehicle price at time of purchase. No waiting for a refund check. I don't know if Tesla is setup yet for that, but that's how it's going to work ....

PS - no relation to the governor. I promise.

 

[Knoxx]

The fact that the rebate comes off the vehicle price at time of purchase means that it also kicks in for lease programs. Correct??

 

[Shateam]

PS - no relation to the governor. I promise.

 

[dmurphy]

The fact that the rebate comes off the vehicle price at time of purchase means that it also kicks in for lease programs. Correct??

Yes, it applies to leased vehicles. How it’s handled, that remains TBD. This reeks of “ready, fire, aim” syndrome, in that the execution wasn’t well defined.

 

[dropgems]

Great news but is there any possible way to spec a model 3 performance to under 55k to take advantage of this rebate? I really want a P but can’t figure out a loop hole.

 

[dmurphy]

Great news but is there any possible way to spec a model 3 performance to under 55k to take advantage of this rebate? I really want a P but can’t figure out a loop hole.

LR AWD and then add the Acceleration Boost? Not exactly the same, but close enough for daily driving.

The 20” wheels on the P are a bit of a nightmare here in NJ anyway ...

 

[BrewerGlyph]

Can anyone confirm that this only applies to vehicles registered in NJ, and not to all cars sold in the state? I'm not seeing any language to that effect in the legislation text.

 

[rGin]

Great news!!! Waiting on a new 3 in NJ!

 

[dropgems]

LR AWD and then add the Acceleration Boost? Not exactly the same, but close enough for daily driving.

The 20” wheels on the P are a bit of a nightmare here in NJ anyway ...

yea, that was the compromise in my head. You’re just barely over the threshold with the performance that I was wondering if there was any possible way to get the car down like 2k.

 

[BrewerGlyph]

Can anyone confirm that this only applies to vehicles registered in NJ, and not to all cars sold in the state? I'm not seeing any language to that effect in the legislation text.

Found an updated, corrected copy of the bill and it does indeed only apply to cars registered in NJ, which makes sense.

 

[Theorigamist]

Wonder how/when they will set up the rebate so that it is taken off right away. Maybe I’ll wait until they figure that out.

Can’t wait too long though in case every one of the 60,000 vehicles is already taken...

 

[dmurphy]

Wonder how/when they will set up the rebate so that it is taken off right away. Maybe I’ll wait until they figure that out.

Can’t wait too long though in case every one of the 60,000 vehicles is already taken...

the funding called for in the bill is a minimum ... If it’s popular (as I expect!) - they have the ability to add more.

 

[BUSMAN]

The State hasn't stated car can be purchased out of state but registered in NJ? Wonder if NJDMV will rebate you ?

 

[dmurphy]

The State hasn't stated car can be purchased out of state but registered in NJ? Wonder if NJDMV will rebate you ?

Almost certainly no. Why would you want to purchase out of state? You’ll be paying sales tax that way!

 

[CK123]

FYI for anyone looking to buy an EV in New Jersey ...

The governor's office announced today that the EV credits are *retroactive* back to January 17th of this year, when he signed the bill ....

Office of the Governor | Governor Murphy Affirms Electric Vehicle Rebate Eligibility Effective as of January 17, 2020

So if you are waiting to buy a Tesla ... don't! Hop to it!

For those not familiar with New Jersey's EV program ...

#1 - There's now a $5,000 rebate for EVs with an MSRP under $55,000.
#2 - There is also a $500 rebate for home EV charging infrastructure
#3 - EVs are (no matter the MSRP) exempt from NJ sales tax

It's a super program. Not too many things in NJ make you say "wow, this is excellent!" -- but here we are.

The $5k rebate is supposed to come off the vehicle price at time of purchase. No waiting for a refund check. I don't know if Tesla is setup yet for that, but that's how it's going to work ....

PS - no relation to the governor. I promise.

I just placed my order at the Princeton Tesla Store on Saturday, and there was no mention of this rebate? I paid full price $52k

 

[BUSMAN]

Almost certainly no. Why would you want to purchase out of state? You’ll be paying sales tax that way!

NJ as I'm sure you know is sales tax exempt EV. If a demand in NJ for other EVs get strong the nice dealers will raise prices accordingly. ... So a dealer in Md might be stuck with cars you can get cheaper.

 

[dmurphy]

NJ as I'm sure you know is sales tax exempt EV. If a demand in NJ for other EVs get strong the nice dealers will raise prices accordingly. ... So a dealer in Md might be stuck with cars you can get cheaper.

We’re on a Tesla forum here. Tesla doesn’t have dealers, doesn’t adjust pricing by state and offers - quite literally - no advantage to buying out of state.

For the other guys, I doubt you’d find an out of state vehicle so much cheaper that it negates the sales tax and rebate incentives.

 

[BUSMAN]

We’re on a Tesla forum here. Tesla doesn’t have dealers, doesn’t adjust pricing by state and offers - quite literally - no advantage to buying out of state.

For the other guys, I doubt you’d find an out of state vehicle so much cheaper that it negates the sales tax and rebate incentives.

I was just commenting in general sorry about non Tesla.
Dont think you've bought many cars out of state but the sales tax laws of the state you will register the car will apply to sale. Some out of state dealers might include your sales tax and registration but it is payed to state you will register in. NJ exempts EVs hence no tax. This is a Tesla forum so no need to point out 5k difference in advertised prices.

 

[BUSMAN]

I just placed my order at the Princeton Tesla Store on Saturday, and there was no mention of this rebate? I paid full price $52k

Surprised they didn't mention rebate at all? People have been calling dealers every since Governor signed law. They probably thought you might postpone sale?

 

[mitsits]

I just placed my order at the Princeton Tesla Store on Saturday, and there was no mention of this rebate? I paid full price $52k

definitely a little odd, but I wouldn't sweat it as you'll definitely be eligible. It'll likely be more work on your end with you having to do the application or whatever they end up rolling out for retroactive buyers, but as stated in the release you'll qualify for a 5k rebate/refund