Cheapest may not be the safest or best fit depending on each situation. Would you want a Chevy with a history of fires that gets the full rebate or a Tesla that has a relatively safe track record and is way more fun to drive but may or may not get the full rebate ? Research LFP and other Tesla batteries, watch Munro on youtube etc
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Tax Credit Bill
- Thread starter golfcart
- Start date
TSLA can get the max rebate if from now thru December end TSLA adjusts the pricing and battery sourcing to align with the Climate bill requirements and also work on classifying the Model Y as an SUV if it does not right now. Regarding value the SR RWD is still king with or without the rebate. For a SUV though my pick for value is the Id4 Pro S that will be made in Chattanooga and may get the full rebate. The Ultium based Blazer has unknown history and first year model and hence comes with its own risks..
Thx will look at ID4. Really need a 3 row/ more room SUV but Y 3rd row is tiny. That's why I'm also looking at PHEVs that are roomier. Will they get rebates too or just BEVs? I also never buy first year models
Yes SR with rebate was the best value and I'm glad I waited 2+yrs for it.. Only thing that came close at the time was used/ CPO S, but that's no longer true with used car price market and TSLA no longer doing the extended warranty. I wonder if I should revisit that with rear facing 3rd row S would qualify for credits in 2023 and take the warranty risk
The only PHEV assembled in NA is Ford Escape PHEV.
Basically you are buying a car based on tax credit (lots of folks do that for BEVs currently) and ignore the actual quality of the vehicle. Very wrong IMO.
You want a good 3 row SUV? Buy a Telluride. Need even more space.. got with a Sienna or Carnival or Pacifica. The Pacifica minivan plug in might be eligible for tax credit.
Good point for folks buying for tax rebates and ignoring safety. The Ford Escape PHEV is sold as the Kuga in other countries. You can just google for "Ford Kuga fires"
Good point. I want both value + safety. That's why I didn't buy the Pacifica. Fiat can't get their reliabilty act together. Also why I drive the SR. Trying to do the same with my wife's people mover. XC90 was recommended for that, but no 3 rows I believe?
Funny got this email this AM. Not sure if true as far as "effective immediately" part:
We just got urgent news from KIA. As you may have heard, the "Inflation Reduction Act" was approved by the Senate over the weekend which includes new rules for EV & PHEV tax credits. It is anticipated that this bill will pass the House by tomorrow and will be signed into law by President Biden as soon as Monday, August 15th. Once signed by President Biden, it will go into effect immediately. As a result of this bill, all new KIA EV & PHEV vehicles will no longer qualify for the federal tax credit as soon as the President signs this legislation. The current federal tax credit amounts to up to $7,500.
While some provisions in the Senate bill could change, the new bill includes a requirement mandating that to qualify for a federal EV and/or PHEV tax credit, the "final assembly" of the vehicle must occur "within North America" i.e., the U.S, Mexico or Canada. As reported in the national press, this will be effective immediately upon enactment.
Importantly, under the bill, there is provision stating that if a customer has already "entered into a written binding contract to purchase" an EV/PHEV that was assembled outside of North America (or signs such a contract before the President signs the bill), the customer will still qualify for the current credit even if the vehicle is not delivered until after the legislation is signed (as long as the vehicle is delivered before 1/1/2023).
What does this mean for you? It means that if you've been considering a purchase of a new EV or PHEV vehicle, the time to act is now to secure the federal tax credits that are currently available.
Please contact us if you have any questions or if you'd like to secure an in-stock, inbound or allocated EV or PHEV vehicle. KIA vehicles impacted are the Niro PHEV, Sportage PHEV, Niro EV, EV6 and Sorento PHEV.
If you've already put a deposit on an inbound EV or PHEV vehicle with us, please make sure that you have also come in to sign a contract for the vehicle or you will not qualify for the credit when the time comes to take delivery.
Thank you,
It’s either 7500 or nothing and starts in 2023. It’s categorized as a small suv. I think the jury is still out of the battery would qualify it or not
This article says rivian is asking people to put down $100 deposits, b/f Biden signs on Monday. Any others?
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www.reuters.com
if not
electrek.co
Automakers scramble to decode new U.S. EV tax credits
Automakers and dealers must figure out if they can still offer $7,500 tax credits to would-be buyers of electric vehicles, as Congress prepares for final votes.
www.reuters.com
if not
- Includes a new federal tax credit of $4,000 for used EVs is tempting too. If it applies to PHEVs
Here's every electric vehicle that qualifies for the current and upcoming US federal tax credit
As sales of electric vehicles continue to surge, many new and prospective customers have questions about qualifying for federal tax...
electrek.co
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This article says rivian is asking people to put down $100 deposits, b/f Biden signs on Monday. Any others?
Automakers scramble to decode new U.S. EV tax credits
Automakers and dealers must figure out if they can still offer $7,500 tax credits to would-be buyers of electric vehicles, as Congress prepares for final votes.
if not
- Includes a new federal tax credit of $4,000 for used EVs is tempting too. If it applies to PHEVs
Here's every electric vehicle that qualifies for the current and upcoming US federal tax credit
As sales of electric vehicles continue to surge, many new and prospective customers have questions about qualifying for federal tax...
Rivian asking for $100 of the $1K deposit to be non-refundable.
I would jump on it if I was in the rivian market. Too pricey for my blood.
anyone else doing that? this is why I hate the dealer model.. Might just get my wife a Y, take delivery after 1/23 and cancel if they don't offer the full 7.5K credit.
From what I understand, Model Y might qualify for 1/2 of $7500 credit. It’s obviously assembled in US but battery sourcing half of credit is unclear at this point. That’s assuming the configuration is under $80k (assuming govt will count option costs for tax credit qualification purposes).
I hope not, because the configuration I have on order for 2023 delivery is around $82k!
if you ordered an R1S pre March it was $75K fully loaded which basically Model Y pricing with three rows and at the time it was eligible for $7500 tax credit. Now it’s $94K and who knows about the tax credit.
I’m still taking delivery of my R1S in early or mid 2023. I’ve waited a year so far.
No I’m pretty sure there is no half credit. I mean there technically is because the credit is split into two categories, but you must qualify for both to receive both. You can’t just qualify for half.
That I’m not sure about after having skim read the bill a few times over the past week. Two halves are explicitly listed with dollar values for each. Why go through the trouble if they must be tied together for the $7500 credit?
Because these are government funds and they need to be allocated. The incentive basically has two requirements, and they need to assign a dollar amount for the funds. I’ll have to look at the bill again to find the section but I’m 98% certain it’s there
