Tesla EV Tax Credits coming back?

[fayeznajeeb]

Yeah, not sure why you wouldn't put in an order now and place a hold. The price is just going to continue to rise.

I did not know you can actually hold the price if you submit $100. I wish I knew at that point.

 

[mwdietertg]

I agree there is likely to still be some credits at some point, but I would expect them late Fall of this year at the earliest. This would mean that if it is non-refundable, then you would not have much time to arrange your taxes to take advantage, which then moves it to next year for most people.

For myself, I would lose the 2500 CO tax credit and who knows how the value of my current car and the price of a new Tesla would change by that time. I expect my current car value to be several thousand lower and a Tesla to be several thousand higher (already is currently 1500 more than when I placed my order in early April). All of which is to say, I'm excited to take delivery of my car this weekend, even without the credit.

But for anyone needing the financial incentive, being patient and waiting until next year could certainly pay off.

“I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this bill, the infrastructure bill, as well as voted on the budget resolution. But if only one comes to me, this is the only one that comes to me, I’m not signing it. It’s in tandem,” Biden told reporters at the White House."

I would expect clarity by the end of September

 

[OUengineer]

“I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this bill, the infrastructure bill, as well as voted on the budget resolution. But if only one comes to me, this is the only one that comes to me, I’m not signing it. It’s in tandem,” Biden told reporters at the White House."

I would expect clarity by the end of September

Kinda what I was thinking, but figured add in another 30 days before everything goes into effect because it's the government. Maybe not if it's just a non-refundable tax incentive, but if it's a point of sale rebate, I assume that would take some time to implement. The Clean Energy for America Act that I read through said next year for start date of EV incentives, so it wouldn't surprise me if there was some kind of delay before they started.

Overall, I'm still not 100% convinced that EV incentives specifically will end up in whatever climate package they want to release through reconciliation. I'd say it's more likely than not, but it seems impossible to guess what form it will come in and when.

 

[electricloris]

“I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this bill, the infrastructure bill, as well as voted on the budget resolution. But if only one comes to me, this is the only one that comes to me, I’m not signing it. It’s in tandem,” Biden told reporters at the White House."

Biden says he won’t sign bipartisan bill without reconciliation bill

President Biden on Thursday said he won’t sign the bipartisan infrastructure deal if Congress doesn’t also pass a reconciliation bill, committing to a dual track system to get both bills passed.…

thehill.com

“I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this bill, the infrastructure bill, as well as voted on the budget resolution. But if only one comes to me, this is the only one that comes to me, I’m not signing it. It’s in tandem,” Biden told reporters at the White House."

I would expect clarity by the end of September

Yea I mean, how do we know that what Biden is talking about would also include EV rebates?

 

[doomsday997]

EV Credits are still coming. There is going to be a second infrastructure bill that will get passed via reconciliation that will most likely have the EV credits in it. Biden said he won't sign the Bi-partisan bill without a second bill with all the extra goodies he didn't get. So I wouldn't rule them out just yet.

Biden saying that already has put the bipartisan bill in jeopardy, reconciliation is also not guaranteed, they will have to have all dems on board (manchin), not raise the national debt, and get passed the senate parliamentarian who already has shot down big attempts like minimum wage. If it does pass I sincerely doubt any EV tax credits will go through in their original proposed forms. My guess is if they do pass they will only apply to lower cost non “luxury” EVs under a certain price point.

 

[bryan995]

Let’s hope they change the date to be retroactive to all of 2021.

I want some of that sweet cheddar applied to my 39,990 SR MY.

 

[Trip McNealy]

I went back a few pages in this thread and at least one person mentioned something about placing an order today to at least get locked in price.

My situation if this helps: I currently have a lease ending this November 1 on my Ford Edge. I am strongly considering a MY LR (options: Blue exterior, that's all). Thus I have nothing to worry about selling, trading-in, etc. Flat out put some $xxx dollars down and finance the rest.

Here in NJ we do not pay sales tax on EV purchases and supposed NJ EV rebates are being renewed for 2021. A Fed rebate on top would be icing on the huge cake but I am not holding my breath and making that a deciding purchase factor.

I was not originally planning to place an order or anything until around August. Should I forgo that plan and place one sooner than later? I am just confused on how long I can "keep my place in line" with that $100 reservation and if I am penalized in any additional way for retracting it, say in Sept or something.

Thanks for the help!

 

[DayTrippin]

Place the order now to lock in your price. My understanding is you can punt your order up to 90 days later without any issues.

 

[sgalla04]

I went back a few pages in this thread and at least one person mentioned something about placing an order today to at least get locked in price.

My situation if this helps: I currently have a lease ending this November 1 on my Ford Edge. I am strongly considering a MY LR (options: Blue exterior, that's all). Thus I have nothing to worry about selling, trading-in, etc. Flat out put some $xxx dollars down and finance the rest.

Here in NJ we do not pay sales tax on EV purchases and supposed NJ EV rebates are being renewed for 2021. A Fed rebate on top would be icing on the huge cake but I am not holding my breath and making that a deciding purchase factor.

I was not originally planning to place an order or anything until around August. Should I forgo that plan and place one sooner than later? I am just confused on how long I can "keep my place in line" with that $100 reservation and if I am penalized in any additional way for retracting it, say in Sept or something.

Thanks for the help!

Yes, place order now definitely. Then tell your SA you want a hold until November 1st. You can always click the button on your account to release it earlier to better align with your timing. Officially you can hold for 90 days. But 3-6 months shouldn’t be an issue either.

Some perspective; I released my hold on June 1st and had delivery June 16th. So releasing October 1st might make sense. However, this is Q4 which may put you in for a December delivery. If you are ok with either extending the lease a couple months or trying for an end of Q3 September delivery and have 2 car payments for a month and a half or so. Timing October 31st will be difficult.

 

[PatrickTM]

I went back a few pages in this thread and at least one person mentioned something about placing an order today to at least get locked in price.

My situation if this helps: I currently have a lease ending this November 1 on my Ford Edge. I am strongly considering a MY LR (options: Blue exterior, that's all). Thus I have nothing to worry about selling, trading-in, etc. Flat out put some $xxx dollars down and finance the rest.

Here in NJ we do not pay sales tax on EV purchases and supposed NJ EV rebates are being renewed for 2021. A Fed rebate on top would be icing on the huge cake but I am not holding my breath and making that a deciding purchase factor.

I was not originally planning to place an order or anything until around August. Should I forgo that plan and place one sooner than later? I am just confused on how long I can "keep my place in line" with that $100 reservation and if I am penalized in any additional way for retracting it, say in Sept or something.

Thanks for the help!

It will be very difficult to plan/predict for a Tesla to arrive on a specific date, but if you're shooting for roughly a November delivery you will most likely want to order now to lock in the price. Unfortunately as of this morning the price of a LR did go up by another $500, but at least you'd be locked in to today's price. Tesla has been playing with price bumps on the LR every 2-3 weeks, though I can't imagine it going up much more than the price right now. Ordering doesn't get you into any line. Completing your profile and readying your account for delivery (address, financing options, delivery location, title/registration, etc.) gets you in line for a VIN assignment/delivery.

After paying the $100, you will receive a call or text from your SA and you can ask him or her place the order on hold, or just keep the profile incomplete. I'd take it off hold (or complete the profile) no later than 15Sep. I have an old order and a more recent order, and the newer order has the following language in the agreement:

If you do not take delivery of your Vehicle within ninety (90) days of placing your order at no fault of Tesla's, we may cancel your order and keep your Order Fee, Order Deposit, and Transportation Fee. Alternatively, Tesla may give you the option to reconfigure your Vehicle at the current pricing.

Considering there are some people waiting longer than 90 days after ordering for their Model Y to show up, I don't see this as being easily enforceable. Also there's such a overwhelming demand right now, I don't think they'll be pressuring order holders to take quick deliveries. At least not until Austin factory is ramped up and pumping out cars - but I can see why Tesla lawyers would want this option written into their agreements. At a minimum, your SA will call/text/email you if they get antsy and want to cancel your order and you can decide if you want to jump in line or stay on the side. I heard the unofficial rule is one year of an order being on hold.

 

[OCJeff]

I went back a few pages in this thread and at least one person mentioned something about placing an order today to at least get locked in price.

My situation if this helps: I currently have a lease ending this November 1 on my Ford Edge. I am strongly considering a MY LR (options: Blue exterior, that's all). Thus I have nothing to worry about selling, trading-in, etc. Flat out put some $xxx dollars down and finance the rest.

Here in NJ we do not pay sales tax on EV purchases and supposed NJ EV rebates are being renewed for 2021. A Fed rebate on top would be icing on the huge cake but I am not holding my breath and making that a deciding purchase factor.

I was not originally planning to place an order or anything until around August. Should I forgo that plan and place one sooner than later? I am just confused on how long I can "keep my place in line" with that $100 reservation and if I am penalized in any additional way for retracting it, say in Sept or something.

Thanks for the help!

Yes, place order now definitely. Then tell your SA you want a hold until November 1st. You can always click the button on your account to release it earlier to better align with your timing. Officially you can hold for 90 days. But 3-6 months shouldn’t be an issue either.

Some perspective; I released my hold on June 1st and had delivery June 16th. So releasing October 1st might make sense. However, this is Q4 which may put you in for a December delivery. If you are ok with either extending the lease a couple months or trying for an end of Q3 September delivery and have 2 car payments for a month and a half or so. Timing October 31st will be difficult.

As @sgalla04 said, but for comparison I released my order on 6/4, and EDD is late July/August. Difference? He had a completed profile before the "hold" and I did not. So I would complete the entire profile, up until you have a current EDD and then place your order on hold.

It may have been a coincidence, but it may not have been.

 

[Trip McNealy]

Thanks everyone, that makes sense when to order. I guess now, off to schedule a test drive and get going!

 

[eleven24]

Just saw this. Infrastructure bill seems to allocate $15B to EV infrastructure, which I take as just charging network. The EV credit will likely be elsewhere if this is the case

 

[CyberTorque]

I went back a few pages in this thread and at least one person mentioned something about placing an order today to at least get locked in price.

My situation if this helps: I currently have a lease ending this November 1 on my Ford Edge. I am strongly considering a MY LR (options: Blue exterior, that's all). Thus I have nothing to worry about selling, trading-in, etc. Flat out put some $xxx dollars down and finance the rest.

Here in NJ we do not pay sales tax on EV purchases and supposed NJ EV rebates are being renewed for 2021. A Fed rebate on top would be icing on the huge cake but I am not holding my breath and making that a deciding purchase factor.

I was not originally planning to place an order or anything until around August. Should I forgo that plan and place one sooner than later? I am just confused on how long I can "keep my place in line" with that $100 reservation and if I am penalized in any additional way for retracting it, say in Sept or something.

Thanks for the help!

You might want to check your residual value and see if selling/trading in your Edge would put money in your pocket prior to lease return. Hopefully you’re pleasantly surprised with how the numbers come out.

 

[Noflash]

I've given up on the tax credits. They are not in the "bipartisan deal" and Biden pissed off all the Republicans by saying they would do reconciliation on top of this bill. I don't see how they could ever pass a green bill with the filibuster intact. I ordered my Y this morning. If something looks promising before September delivery, I'll delay. I'm not holding my breath (any more).

 

[doomsday997]

I've given up on the tax credits. They are not in the "bipartisan deal" and Biden pissed off all the Republicans by saying they would do reconciliation on top of this bill. I don't see how they could ever pass a green bill with the filibuster intact. I ordered my Y this morning. If something looks promising before September delivery, I'll delay. I'm not holding my breath (any more).

I think you are dead on

 

[electricloris]

I've given up on the tax credits. They are not in the "bipartisan deal" and Biden pissed off all the Republicans by saying they would do reconciliation on top of this bill. I don't see how they could ever pass a green bill with the filibuster intact. I ordered my Y this morning. If something looks promising before September delivery, I'll delay. I'm not holding my breath (any more).

Yea man, just live, I ordered mine a a month or so back and have no regrets. I get a great car, and whatever happens happens. If covid thought me anything is life is short so try and enjoy yourself within your means.

 

[bdwalters]

I’m also not waiting for the tax credit anymore. There is still a small chance that something will pass late this year or early next year, but who knows what that’s going to look like.

 

[OCJeff]

Same here. Held out hope. Would have been nice. The $4,000 in price increases since my order is a nice plus. Add to that state incentives and I’m at $5500. Not too bad, but in all honesty I just want a Tesla MY as my daily driver.

 

[240W]

Same here. Held out hope. Would have been nice. The $4,000 in price increases since my order is a nice plus. Add to that state incentives and I’m at $5500. Not too bad, but in all honesty I just want a Tesla MY as my daily driver.

Nice, it’s like max discount given the current market.
(Maybe max would be when it first dropped to 48k, ordered existing inventory to get the vin, applied to cvrp before the funds were exhausted). Cvrp was around 2k instead of the current 1.5k?