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No more california rebate

Discussion in 'Model S' started by smilepak, Jun 16, 2016.

  1. xav-

    xav- Member

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    Damnit. Do I still have time to order mine?
     
  2. xav-

    xav- Member

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    Think I have a chance if I buy the car?

    "Important Information from the State of California

    Funding is currently exhausted. All applications submitted after June 10, 2016 will be placed on a rebate waitlist."

    I guess there's no way I will get it.. Damn :(
     
  3. GasKilla

    GasKilla No Gas Know Peace

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    You can still get the Tesla $1k referal credit Referral | Tesla Motors plus the program changed to be income limited anyway, so if you were a high earner you wouldn't qualify for the rebate anyway. The $7500 tax rebate still applies. Just order now and perhaps by the time your car is delivered some type of solution will be had. But if you wait too long the $1k Tesla referal will go away too.
     
  4. sorka

    sorka Active Member

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    I got my $2500 before they changed over to income based at which point I would have been eligible for $0.
     
  5. xav-

    xav- Member

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    I wish that were a problem for me. I likely would not be asking these questions if we were making half a million a year :)
     
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  6. chipmunk

    chipmunk Member

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    It's worth noting that this is not the first time the budget has run out for the program and re-started. It seems like it's an annual occurrence. I know it happened in 2013 when I bought a Volt, and again in 2014. I'm sure hoping funding comes in because I'm one of the folks on the wait list.
     
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  7. No2DinosaurFuel

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    Yeah has happened before. My guess is they will instate it later. However no guarantees.

    Honestly they should lower the max income to qualify. I mean if you are making over 150K a year, you really don't need the credit. You'll buy the car because you want the cars. The people that are border line for tesla model S are those who make 80K-150K where the credit can mean they buy a tesla or not. Sure you can argue tesla buyers don't need the credit because of the high cost of the car, but if you look at the data. The people who are getting tesla are people who are coming from ordinary cars. Some are doing it because it will lower their cost of ownership. So if they are excluded from the incentive, guess what? They will continue to drive their old polluting ICE cars. It's rediculous when I see that the limit is 250K or more before you are excluded.
     
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  8. ifonul

    ifonul Member

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    @No2DinosaurFuel - You can tell from your post that you live in SD, and not in the SF Bay Area! :)

    Getting my car on Monday, hopefully they'll add funds to the program at some point in the near future!
     
  9. sorka

    sorka Active Member

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    There used to be a saying that I first heard in around 2000. "You know you live in the Bay Area when you make a $100K / year and can only afford to drive a Honda Civic". That's probably doubled by now.
     
  10. No2DinosaurFuel

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    So you are saying because cost of living and everything else is high, they should increase the limit? I say if you cant afford to live in the area, maybe that is what you should look at first before buying a car. What is it they all say about equities? Buy the house first then the car.

    Another way to look at it is the percentage of cost of the car to your overall income. The more you make the less the less the tesla cost monthly as a percentage. Hence it is actually more affordable for you. So if you should care less about the 2500 if you make enough.

    Sounds to me like all those people in the bay area are complaining about not making enough to afford a tesla. If honestly this is the case, then they should not be buying one then. It is like someone living in riverside making less than 50K trying to buy a tesla. Same scenario. The 150K number i used is way generous IMO.
     
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  11. chillaban

    chillaban Member

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    I dunno, who said anything about not being able to afford the car, with or without the rebate? Regardless of how much money you make, I would hope that everyone is money-savvy enough that they'd want an additional $2500 or $1000 or $7500 and consider it to be a factor in deciding how the Tesla compares with other cars of a similar price range.
     
  12. No2DinosaurFuel

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    I think that was ifonul and sorka's point that if you live in the bay area, you would not be able to afford the car without the rebate because of the super high live cost.

    This is only about the $2500 or $1500 or whatever it is depending on your income level CA only EV credit. I make no mention of the referral or the Federal tax credit. So you are really only comparing $2500 vs $0 rebate. I make no mention of other cars. My initial point is if you are making over $150K this is not significant if you are buying something in this price range. It's like getting the air suspension for free or not. Again back to my original point, this might be the factor that pushes someone in the 80-150K range with other expenses to either have enough to make the monthly payments while still keeping a margin in there for unknown expenses. Keeping a margin is what you called "money-savvy." I am sure they can outright make the payments, but what is left for the others expenses?
     
  13. KZKZ

    KZKZ Member

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    :( Hopefully the rebates will come back.
     
  14. xav-

    xav- Member

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    Making $185k combined (2 incomes), but damn it feels like a lot of money. When I mention the idea to my co workers of spending $70k on a car (out the door) they think I'm nuts.
     
  15. sorka

    sorka Active Member

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    $150K in the Bay Area is nothing. If you own a modest million dollar home with a two car garage, your $150K will be $100K after taxes and then $50K after you pay your mortgage. After all other expenses don't expect to save much. $2500 could be 10% or more of what you have left over. If you make $150K in the Bay area for a family of 4, you're having a tough time of it.
     
  16. FlatSix911

    FlatSix911 918 Hybrid

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    Did anyone read this article? It is a low income program, not the $2,500 EV rebate.

    upload_2016-6-17_19-48-41.png
     
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  17. mshuang

    mshuang Member

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    Blame the writer for wording it badly. This is the California State $2,500 EV Rebate. Previously it was open to all incomes, then they changed it to be ratched down by income level.

    There were additional subsidies for low-income residents of SJV and LA.

    When I bought my Model S, this is where I got the rebate from.
     
  18. No2DinosaurFuel

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    It's not that much money once you get a 6 years car loan. I know people don't like car loans, but if you don't have the cash, it's something you have to do to get the car. Definitely very doable.

    Sounds like if that is the case, definitely don't buy tesla if you have 4 mouths to feed and a huge mortgage and other expenses. That $2500 extrapolated over 6 years is nothing compared to your income and is not going to factor into your ability to afford that car or not. If you can't afford it, you can't afford it. Subsidizing the high earners actually perpetuates the high living cost problem. That discussion is for another time. I don't want to get off topic.
     
  19. Superloud

    Superloud Member

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    I agree with this general assessment on Bay Area life. i also think the family in this example should not be buying a new tesla at all - regardless of the $2500 incentive.
     

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