Who is going to be "that guy" camping out on March 30th?

[sports4eva115]

for some people who are on a tight budget (like me), it's also about the incentive. With a $7500 tax credit and $2500 California incentive, a Tesla Model 3 could fall to the same price range as a Toyota Camry. That being said, Elon also verified that the most highly optioned cars (aka most expensive) will be made first, which really cuts close to the 200,000 car limit of the federal tax credit. Basically, waiting it out could save some people an extra few thousand dollars (which you could've used to add more features!)

 

[Iwantone]

for some people who are on a tight budget (like me), it's also about the incentive. With a $7500 tax credit and $2500 California incentive, a Tesla Model 3 could fall to the same price range as a Toyota Camry. That being said, Elon also verified that the most highly optioned cars (aka most expensive) will be made first, which really cuts close to the 200,000 car limit of the federal tax credit. Basically, waiting it out could save some people an extra few thousand dollars (which you could've used to add more features!)

Any idea when you pick the options? Will you add options when you order it or will they contact you down the road and then you add the options.

 

[MichFin]

I really don't think they will take orders before the reveal.... So it really depends on what time the event is.

 

[mrounds]

Yup I'm going to be "that guy" working remotely at the Dedham MA store planning to be there around 4AM-5AM (earlier if need be). My wife, kid, family, coworkers don't get it...but I do

 

[SW2Fiddler]

Do I understand correctly that everybody is sort of planning to line up at Tesla stores to order a Model 3 (like queueing up at Apple for a new iPhone)? Isn't it likely that everyone is going to have to wait like 3 years before they actually get a car? I don't understand...

I took the day off to go join fellow Tesla customers, and be a part of history ...and I am not even planning to put a deposit down. Just enjoy the company of other Teslanites.
:redface:

 

[mikeberg22se]

for some people who are on a tight budget (like me), it's also about the incentive. With a $7500 tax credit and $2500 California incentive, a Tesla Model 3 could fall to the same price range as a Toyota Camry. That being said, Elon also verified that the most highly optioned cars (aka most expensive) will be made first, which really cuts close to the 200,000 car limit of the federal tax credit. Basically, waiting it out could save some people an extra few thousand dollars (which you could've used to add more features!)

In a way the tax credits will for the most part only be for those that probably could afford a highly optioned car anyway. Shouldnt there be a maximum price of the car in order to be applicable for the credit??

 

[sports4eva115]

Any idea when you pick the options? Will you add options when you order it or will they contact you down the road and then you add the options.

I've never bought the MS or MX, but based on some reading I would think that they'll allow you to customize based on how early you're registered? for ex., the first 10 people get to customize first, then the next ten, and so on. Tesla will then filter through which customizations have the options that they deem most profitable, and make those first, but still following the prioritization list.
someone plz correct me if I'm wrong!

 

[bonnie]

So, I am a new Tesla enthusiast, and don't currently drive a hybrid or electric. However, I have followed the M3 and believe it will be a "compelling" vehicle, so I was planning on "standing in line" on the 31st. However that changed Weds. morning when TM called me at work, after I the night before, I'd begun, inputting my info on the TM website "schedule a MS test drive", but aborted prior to submitting. I told the TM rep that I wasn't really interested in the MS, but was interested in putting a deposit on the M3 that morning. He insisted that I could do that and also test drive the MS. He told me the MS would have features and drive characteristic similar to the M3, and would be worthwhile test drive. I know they think they can upsell me, but MS isn't in my budget. Anyway he booked me for the first appointment of the day (10:00AM), and said it was fine that I really wanted to put my M3 deposit down, and didn't want to burden the TM sales staff on a very busy day.
Why would TM be scheduling test drive on the 31st, and why don't they anticipate they will be overwhelmed with M3 depositor's?

Our local store is doing zero scheduled test drives on the 31st - it will be 'first come first serve' all day long. Our local club (http://www.NorCalReno.com) will be helping out with line management, parking direction, etc. so that the staff is fully freed up to take care of customers & reservations throughout the day.

 

[brianman]

In a way the tax credits will for the most part only be for those that probably could afford a highly optioned car anyway. Shouldnt there be a maximum price of the car in order to be applicable for the credit??

If that was the case, it would probably exclude Model 3 entirely.

 

[Iwantone]

If that was the case, it would probably exclude Model 3 entirely.

I don't think it works that way. I think it is the first 200K cars sold by Tesla that get the TC. I think that is why Elon said they will build the most optioned out vehicle first. Please chime in if I am wrong.

 

[Bob-Loblaw]

for some people who are on a tight budget (like me), it's also about the incentive. With a $7500 tax credit and $2500 California incentive, a Tesla Model 3 could fall to the same price range as a Toyota Camry. That being said, Elon also verified that the most highly optioned cars (aka most expensive) will be made first, which really cuts close to the 200,000 car limit of the federal tax credit. Basically, waiting it out could save some people an extra few thousand dollars (which you could've used to add more features!)

This may be a dumb question but are they are saying you have to owe $7,500 or more BEFORE write offs correct?

"Perhaps the biggest asterisk is that you have a tax liability for that year that meets or exceeds $7,500. If you owe less than that amount for the tax year, you lose the rest of the credit (no, it isn't an additional 'refund,' and any left over can't be applied to your personal taxes the following year)."

Federal Tax Credits For Plug-In Hybrids, Electric Cars: What You Need To Know - The Washington Post

 

[brianman]

I don't think it works that way. I think it is the first 200K cars sold by Tesla that get the TC. I think that is why Elon said they will build the most optioned out vehicle first. Please chime in if I am wrong.

Reread what I was replying to...

In a way the tax credits will for the most part only be for those that probably could afford a highly optioned car anyway. Shouldnt there be a maximum price of the car in order to be applicable for the credit??

Mike was asking about a potential alternative to status quo.

 

[tga]

I really don't think they will take orders before the reveal.... So it really depends on what time the event is.

Of course they will - Elon wants to show pictures of lines out the door at the reveal, and talk about how they've already got X-thousand reservations for a car that hasn't yet been seen.

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Our local store is doing zero scheduled test drives on the 31st - it will be 'first come first serve' all day long. Our local club (http://www.NorCalReno.com) will be helping out with line management, parking direction, etc. so that the staff is fully freed up to take care of customers & reservations throughout the day.

This is exactly why I said people shouldn't expect test drive appointments to somehow give them a particular time to sneak in and make a deposit.

Deposits will have priority over test drives. Test drive appointments will get cancelled if it a store has a big line - it'll be all hands on deck to sign people up. No one should count on getting to take a test drive on 3/31. If you show up for a 10am test drive appointment, don't be surprised if they say "Sorry, we can't" - hopefully they'll call you first.

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I don't think it works that way. I think it is the first 200K cars sold by Tesla that get the TC. I think that is why Elon said they will build the most optioned out vehicle first. Please chime in if I am wrong.

First 200k sold in the US. Overseas deliveries don't count.

 

[Iwantone]

Norway et.al are offering tax credits too. My guess is they snap up a bunch of M3's

 

[stevej119]

Reread what I was replying to...


Mike was asking about a potential alternative to status quo.

I think you might have his intent backwards. I believe Mike is suggesting that there should be an upper price limit above which there would be no tax credit. That's my interpretation, anyway.

 

[Model 3]

Norway et.al are offering tax credits too. My guess is they snap up a bunch of M3's

No, it is not "tax credits" here in Norway. They just have dropped the taxes (VAT (25%) + "car-tax" (that easily can be well over 100% on a car like Model S)) on the car itself.
But yes, I guess a bunch of them will get here, if the incentives is not stopped by then. The only thing we know today is that it will continue out 2017 (just before we can get the TM3). It will probably continue in some form after 2017, but gradually be eliminated over a few years.

 

[T-Will]

Our local store is doing zero scheduled test drives on the 31st - it will be 'first come first serve' all day long. Our local club (http://www.NorCalReno.com) will be helping out with line management, parking direction, etc. so that the staff is fully freed up to take care of customers & reservations throughout the day.

That is very cool! And thanks for the information, any idea what time folks are planning to line up on the 31st? I'm planning to be there with at least one other buddy from work.

 

[brianman]

I think you might have his intent backwards. I believe Mike is suggesting that there should be an upper price limit above which there would be no tax credit. That's my interpretation, anyway.

Right. And what I'm saying is that if you give that to politicians then "upper limit" will be below Model 3's base price. Perhaps I'm overly pessimistic. Or, I'm just a WA state resident seeing exactly that done in some versions of the "no sales tax for EVs" legislation in our state.

 

[stevej119]

Right. And what I'm saying is that if you give that to politicians then "upper limit" will be below Model 3's base price. Perhaps I'm overly pessimistic. Or, I'm just a WA state resident seeing exactly that done in some versions of the "no sales tax for EVs" legislation in our state.

Yikes! I wasn't even considering the possibility of $35,000 being above an upper limit.

 

[rnelsonee]

This may be a dumb question but are they are saying you have to owe $7,500 or more BEFORE write offs correct?

You have to be careful with the word "owe". What you owe by April 15th has no effect on the tax credit at all. You need $7500 in tax liability for the year, so *if* you paid nothing in withholding or other payments, then yeah, you'd need to owe $7500 before the tax credit to get the full credit.

Let's say you make $58,000/year gross. You take the std deduction of $6300 and are not a dependent, so that's $4050 more off, leaving you a taxable income of $47,650 if single. Tax (or tax liability) on that is $7684 for 2016. So now you get to apply the $7500 tax credit, so your tax liability is now $184. *Now* you can look at withholding - say it was set as if you weren't getting that credit and you had a perfect $7684 withheld - you will get a check for $7500 from the IRS. If you over withheld, and would have gotten $1000 back, now you get $8500 back. If you would have owed $1000, now you get $6500 back.

OK, so say you make $50,000 gross. Taxable income is $39,650, and taxes are $5684. That's $2000 less than before, which is exactly 25% of the $8000 difference in income for those playing at home. Now when it comes time for the tax credit, only $5684 is subtracted from your tax liability - it won't go negative here, unlike with a refundable tax credit. So like before, perfect withholding = $5684 back, or +/- that depending if you over or under-withheld.

Note for joint filers, assuming no other income, deductions, adjustments, credits, kids (just the 2 personal exemptions), itemizing, etc, the magic number is $77,000 needed in joint income to get $7500 in tax liability.