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SR/SR+ (Model 3 RWD) Waiting Room
- Thread starter HelixSpiral
- Start date
My numbers on the order now reflect the $2500 rebate. In fact, I am now negative $900 on my amount due. Not sure that a tax rebate will go against my loan amount, but since I get a credit against sales tax for my trade in who knows how that works...
So, 2 hours before delivery my final loan agreement became available on the order page.
It reflected a decreased finance amount due to the -$900 final payment and my monthly payment decreased by like $9. I signed the loan agreement digitally, and will be picking up the car in about 2 hours.
I gotta say, buying a car this way has been exponentially better than a normal dealership so far. We'll see how the actual hand off goes, but if it's anything like most experiences that should be super fast as well.
Received scheduled pick up date of Aug 13. Just outside of the 2 week window. Not bad.
Are you financing at all via 3rd party? I’m curious if the MPVA updated as well....
If mine hasn’t auto updated, how long do I wait before I email my delivery guy again? I emailed yesterday morning and he hasn’t got back to me...
*excited!*
Yes, US Bank approved me.
Other than a trailer full of tesla's blocking the driveway to their dealership things went pretty smooth. Had to wait about 30 minutes before we started the hand off process due to them trying to get the truck out of their driveway.
I didn't have the MPVA until a few hours before delivery, but my estimates were updated really quickly on the tesla website.
So.... how much was your tax exemption? Was it ~$1625? I'm trying to figure out what rate the sales tax exemption is for.... the state rate is 6.5% with an additional 0.3% motor vehicle sales/use tax. Then there is a local rate on top of that. If the exemption is ONLY for the sate amount it would be 6.5% of $25,000, or $1625 discount, if it's for the state + additional motor vehicle sales/use tax then it would be 6.8% of $25,000 or $1,700. If it's the FULL sales tax, (state + additional motor vehicle sales + local rate) then it will vary based on where you live but would be roughly 10.1% of $25,000 if you're in King county or about $2525. Tesla is trying to say my exemption only works out to be about $1655, which I have no idea how they're getting to....
If it's the case that it's ONLY the state portion of the tax, well what a way to oversell yourself Washington state! At MOST the exemption will be worth $1625 but people will still owe at minimum $1629 (if they live in the lowest taxed area of WA) and anyone picking up from the Tesla store in Bellevue paying at least $2514 on the SR+ with no upgrades.
Everywhere that was reporting on this was reporting that it was a tax exemption worth up to $2500, which is absolutely impossible if it only exemptions 6.5% (the state tax rate) of the first $25,000 vehicle price.
How did you get the $1655 number from Tesla? Did this show up on your final bill as a deduction or did you get it from the price quoted vs what it would cost full price?
They're still working on the updated MVPA... I called the Bellevue store around 1:30pm and asked for them to do that (since my delivery guy is out on short notice because of a medical issue). I called again around 4pm and they said they hadn't had a chance to get to it but hopefully would by the end of the afternoon. It was this second call that they guy (sales rep, guy that answers phones, who knows who) said it would be about a $1655 reduction in the total price and quoted me a new amount that I was having financed, and that amount was about $600 more then I had calculated out. (Though I was calculating the tax exemption would be worth $2225 to me, my tax calculated out at 8.9%, so $25,000 exemption at 8.9% tax rate would be $2225).
Apparently they're STILL working on the MVPA. The medical issue would be the answer to why my delivery guy didn't email me back all day yesterday. I just want my car to move on from this step into the made final payment step and waiting for them to transport it to me
Lakeshow24
Member
Hi Everyone! Pulled the trigger and ordered a M3 today! Can’t wait until delivery day!
They're still working on the updated MVPA... I called the Bellevue store around 1:30pm and asked for them to do that (since my delivery guy is out on short notice because of a medical issue). I called again around 4pm and they said they hadn't had a chance to get to it but hopefully would by the end of the afternoon. It was this second call that they guy (sales rep, guy that answers phones, who knows who) said it would be about a $1655 reduction in the total price and quoted me a new amount that I was having financed, and that amount was about $600 more then I had calculated out. (Though I was calculating the tax exemption would be worth $2225 to me, my tax calculated out at 8.9%, so $25,000 exemption at 8.9% tax rate would be $2225).
Apparently they're STILL working on the MVPA. The medical issue would be the answer to why my delivery guy didn't email me back all day yesterday. I just want my car to move on from this step into the made final payment step and waiting for them to transport it to me
So here is my scenario. But long story short, MY tax rebate was $2500, period.
I bought a $40k car.
I traded in a car WORTH $22k-ish. (only like $7k-ish was equity) but I already paid sales tax on the trade in car, and you don't get taxed twice. So, the amount of sales tax on the trade in is deducted from sales tax on the new car... sooooo I had about $2200-ish of the $4000-ish in sales tax removed. Then they credit me the $2500 sales tax rebate, so I had a negative sales tax balance which was applied toward the balance of the loan.
I am unsure of what happens when the sales tax (before trade in) is below $2500, but by your numbers sales tax on a $35k car is 35000 * .089 = $3115.
They subtract $2500 from $3115 before any other adjustments like downpayment, trade in value, sales tax of trade in value, etc...
Does this explanation help?
Also, I did not get an MVPA that reflected sales tax or credits or trade in. Just price + delivery. My ESTIMATE and FINAL LOAN AGREEMENT reflected the numbers with tax, fees, credits, etc...
Well that promising that you had an exemption that high. Do you mind if I ask where you’re located? (I’m guessing King county or somewhere else that has a ~10% sale tax rate... or you at least took delivery in person at one of their Seattle/Bellevue area stores...)
My build came out to ~$42,190 after doc/destination added in. (SR+, Blue paint upgrade, white interior upgrade). So in my area (Benton county) I’ll be hit with 8.9% total tax for a tax due amount of ~$3755. I figured I should get the full $25,000 exemption amount since I don’t have a trade in and am below the $45k limit. If you exempt $25k of the vehicle from having tax due it works out to be $2225 of tax removed. ($25,000 of vehicle price “tax free” at 8.9% equals $2225).
That means my total tax due on the purchase should be $1530....
I’m calling the University Village Tesla store again right now to see if they can generate my MVPA. I’m doing outside financing with a credit union and want to get that document to them today so we can pay Tesla today and move forward, I want my car!
Edit: He said it should show up automatically on the MVPA. It won’t be a separate line item but should just be reflected in the tax due line. So I should expect to see that tax line item go from ~$3700 down to ~$1500 based on my numbers, based on my calculations. I warned him I would call him back by noon if I hadn’t seen it updated. This shouldn’t take them 3 days... every other time I needed a MVPA generated to get an accurate idea of total cost (to then request financing from my credit union) it has literally taken minutes...
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Well that promising that you had an exemption that high. Do you mind if I ask where you’re located? (I’m guessing King county or somewhere else that has a ~10% sale tax rate... or you at least took delivery in person at one of their Seattle/Bellevue area stores...)
My build came out to ~$42,190 after doc/destination added in. (SR+, Blue paint upgrade, white interior upgrade). So in my area (Benton county) I’ll be hit with 8.9% total tax for a tax due amount of ~$3755. I figured I should get the full $25,000 exemption amount since I don’t have a trade in and am below the $45k limit. If you exempt $25k of the vehicle from having tax due it works out to be $2225 of tax removed. ($25,000 of vehicle price “tax free” at 8.9% equals $2225).
That means my total tax due on the purchase should be $1530....
I’m calling the University Village Tesla store again right now to see if they can generate my MVPA. I’m doing outside financing with a credit union and want to get that document to them today so we can pay Tesla today and move forward, I want my car!
Edit: He said it should show up automatically on the MVPA. It won’t be a separate line item but should just be reflected in the tax due line. So I should expect to see that tax line item go from ~$3700 down to ~$1500 based on my numbers, based on my calculations. I warned him I would call him back by noon if I hadn’t seen it updated. This shouldn’t take them 3 days... every other time I needed a MVPA generated to get an accurate idea of total cost (to then request financing from my credit union) it has literally taken minutes...
Your understanding of how the tax rebate works is incorrect, this is why your're confused... It's a 2500 credit against the sales tax line, not a 25k tax exempt amount.
EDIT: Noticed your edit, looks like you've got it settled now. They didn't give me the tax credit on my estimate until like the day before delivery. I don't think they bother until they're about to provide your finance agreement that you sign digitally. I am in Snohomish County, just north of King County but I picked up in Bellevue. Tax rates are "essentially" the same here.
I think it actually is an sales tax exemption only on the first $25,000 selling price of the vehicle. If you go to Incentive programs | Washington Department of Revenue and click on “Clean alternative fuel and plug-in hybrid vehicles - sales/use tax exemption“ you’ll see that the exemption applies to up to $25,000 of the sales price. Your $2500 value is correct because the sales tax rate in Bellevue on vehicles is about 10%, and $25,000 of the total cost of the vehicle being taxed at 10% would be $2,500 exemption.
I haven’t got mine figured out... I’m calling them again since they’ve had a few hours and still haven’t provided it.
I have to have this done first before delivery. They will NOT ship the car until full payment is made (financed amount and down payment). My credit union won’t release funds until they see a sales agreement from a Tesla...
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