yeah, force was the wrong word. My current pricing was locked in back in Nov21 so I'm going to take it either way. Just hoping to take it in 2023.
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Tax Credit and MY order/delivery
- Thread starter Bluelocust
- Start date
My current EDD is Nov 2 - Dec 14. My order date was March 14th and original EDD of Sept. I have decided to walk away unless delivery can be delayed until January. Tesla is flush with orders right now…but that will change as their capacity dramatically expands. I plan to retire next year and will be able to use the credit. If I walk I won’t be reordering anytime soon….the market will eventually bring prices down.
seems like an awful lot of risk. You would have to prove that it wasn't used. Further you would have acquired it before the law allowing the credit was in place. Might be worth talking with an attorney about it. I personally wouldn't risk it. Just wait a few months and be certain that you will get the credit. Some additional reading:
www.thetaxadviser.com
Placed-in-Service Decision Requires Careful Planning
Editor: Kevin F. Reilly, J.D., CPA Sec. 167(a) allows a depreciation deduction for assets used in the taxpayer’s trade or business or held for the production of in-come (e.g., rental income). Regs. Sec. 1.167(a)-10(b) provides that the period for depreciation of such an asset begins when it is...
www.thetaxadviser.com
headhz
Member
I have a question for you. And maybe you can help me play this out better. I feel like I was 'bait & switched' into being an "in-betweener." I placed an order a few days ago thinking I would get a MYP at the end of Sept-Oct., but once Tesla got my non-refundable deposit they stated Nov. 19-Dec.31. Now, I won't qualify for the $7500 (income), so I don't care about taking delivery this year. What I'm not going to be cool with and/or don't like is being mislead for a delivery expectation and running the risk of getting the last 2022 made. It's like a triple whammy. You have to wait for the car, take a leftover, and not get a tax credit for it. So by the time 2023 rolls around everyone will be paying $7500 less and I will already have a one year old car. How can I avoid this scenario?
ucmndd
Well-Known Member
If you really get it in November or December it will almost certainly be a 2023 VIN.
headhz
Member
Change your order to MYLR. Change back to MYP on Jan 1st. Simple...done and done.
And 2023 will likely start with Nov builds (at least last year it did). Other years even October builds.
headhz
Member
I'm going to try this way, bc they're not letting me put the car on HOLD. Thank you.
Snow Drift
[Off-Road Assist] Activated
Can't you just get back in line?
When my 2020 MY preorder was originally offered to me, I said I wanted to wait for leasing. Ok. Then months later leasing was an option and when it was my turn again I got the car.
headhz
Member
This pretty much has been my experience. Now this might be acceptable to some and that's okay. But it's not acceptable to me. So if I have to wait 2 months, then I'm going to wait at least 4-6 months. I know the Tesla EVangelists are gonna have a field day with this. But it's just hard for to grasp walking into a store and giving them a $250 non-refundable deposit (a promise I'll spend $70k) before I get the real terms and conditions (more accurate delivery time and trade value). I mean they know where you're located by telling you how much taxes are going to be, but you can't tell me a more realistic estimate of when I'm going to get a car. But as soon as I pay $250, you know then. And that might not even be accurate. I'm amazed so many people are comfortable with this. Kudos to you for being so patient and understanding.
Snow Drift
[Off-Road Assist] Activated
So, you want the car now. You don't want to wait. I'm the opposite, I want to wait for the credit and possibly change to a MY-AWD (shorter range, 4680).
headhz
Member
I ordered the car based upon a few trade-in quotes (one is Tesla's and I have no idea what they're really going to offer), that will only continually go down week by week. I already have a loan good for 30 days, and now a rate hike yesterday. Which could happen again. And now I might get a left over. I (personally) think a range of 5 weeks is acceptable. But until you give them a non-refundable $250 is the only way to get the truth is just wild. I just might have to cancel the order and wait until everything settles down and the smoke clears.
Snow Drift
[Off-Road Assist] Activated
I hear you. I've never ordered a Tesla with a short time line (usually years to months of waiting). Maybe an inventory car? Best of luck.
ucmndd
Well-Known Member
ucmndd
Well-Known Member
What I mean by that is I suspect based on other reports you’ll probably get it sooner.
headhz
Member
Hopefully that works....I imagine they will get a lot of cancellations in the next couple of months. You may wind up getting a car you don't want. I guess its worth a try though. Then if you get a VIN for a LR you can just cancel the order. If you really want to get it ASAP though I would cancel the order and then place another order on 12/29 for the car you want.
Did your advisor not tell you that the dates were estimates? It is in your contract! The 2023 normally comes out in November-December so based on your order date, you would be receiving the 2023. In addition, not everyone would qualify for the $7500 credit due to income cap.
Just confirming. The model year of the vehicle is when it was built and not when purchased?
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