Just put my order in for one, getting rid of my ID.4. At this price point for the model 3 and Y, they really are the best deal going for EV's. If I was willing to pony up, the EV I would LOVE to have would be the Rivian R1S, that thing looks about perfect.
Will this drop the price of used Tesla? How exactly does the tax credit work? The $7500 is used to cover any outstanding taxes due, then you get the rest back like a return? Really thinking about purchasing a Y. how exactly does the trade in work? KBB says my SUV trade in is well above what I owe. Will they put that overage into the Y lease/loan?
You can not get a return from the credit. Unless that changed with everything this year. EDIT, yes what you’re saying is correct. I misunderstood your question. You just can’t have more credit then overall tax paid.
This year it’s a credit meaning if you only owe 4K in taxes, the credit is only 4K. Next year it turns into a point of sale discount.
you're mixing up terminology i'm talking about what your standard owing is (annual withheld amount if you work for a company), not whether you are getting a return or owe the govt additional generally if your household makes more than 75k, you'll have enough tax liability to get the full 7500
So since that’s the case, we wouldn’t qualify for anything? Maybe I should file by myself next year, cause I always end up owing, and my wife will get all her refund. I probably wouldn’t qualify for the entire 7500, cause I didn’t have that much withheld last year. Do I have this right?
Don't overthink it. If you and your wife have a computed tax -- the amount of tax you owe the government as determined based on your taxable income BEFORE withholding, estimated payments, etc. are applied against that tax -- equal to or greater than the credit the vehicle you purchase is eligible for, you are eligible to claim the full amount of the credit.
I don't think so Others can probably explain better. But basically if let's say you only make 30,000 a year. You only owe the irs like $3000 (just a made up #) Say you "pre paid" $4000 through your w2 settings You would then get that whole $4000 back if you had bought a qualifying event. So you're basically only getting $3000 of the possible $7500 credit, since that's all you owed, pluss the extra $1000 you over pre-paid This is different than what people with like 3 kids and a lower income can do where they can get back a bonus that is actually more than what they really "owe" I think
maybe you're thinking of leases, but that is not correct unless he pays 7500 in taxes this is how it will be for all of them in 2023
FFS just give the credit to the dealer and let them pass it on to the consumer via price reduction. If your goal is to get more people driving EV’s then it’s a lot easier to see -$7,500 on the price tag than having to go to irs.gov to figure it out. Also the AGI cap is dumb.
Tesla keeps dropping lric No income restrictions or price restrictions ? If so then why did they add those for one year?
I dont think the details of being a point of sale rebate have been ironed out yet so im sure they'll figure that out in april of next year if we're lucky
Now it’s a decision on Ioniq 5 bs Model Y. Tesla owns the charging network, and Y has a ton of space; yet Ioniq continues to be the best reviewed.
If you’re married you only have to make 65k or so combined to pay at least $7500 in fed taxes. I’d assume most here would easily qualify
I have two kids and need an EV with decent space. Model Y price cuts are making it so attractive, especially if I can get the tax credit. The price to value now of $42k after tax credit has to out weigh my concerns with VWs ID4 software issues, the ongoing blackhole of news on the Chevy Blazer, and the likely $70k price point on the Kia EV9 trim I would like. Going to get a Y test drive and probably move forward there. My wife was a big hold out and I think I've got her onboard.
Early models were glitchy, but since they rolled out v3.0 last year things are much better. Haven't had any problems with mine
Quite the opposite experience for me and mine is 2023 model out of Tennessee. Windows have a mind of their own, seat won't save my location, just picks a new spot when it wants, the massager chair randomly turns on, the screen randomly locks up and I have to reset it, and other fun things. With the current price of the model Y being essentially the same as the ID.4 I don't think it's even close for a comparison. Plus add in you will get much better efficiency and the super charging network, if it's between those two models it's absolute no brainer to go with the Y.
Nelson being a Tesla stan makes his earlier constant posts about random people encountering issues with electrify America make a lot more sense
Sorry to hear that. I'd lean on VW to fix the shit before I'd give Musk any money, but I understand your frustration
Fuck Elon Musk but if I was trying to avoid buying products from shitty people and companies I'd be pretty limited on what I could buy. I might have gotten lucky but my Model 3 I owned was perfect. 2018 model that I sold end of last year and only thing I ever had to do was a tire change.
I have a CCS adapter so I have the option of using (mostly) EA. I’m much, much more of an EA hater than I am a Tesla stan. Bear in mind I live in a place with very little home charging, so the issue matters to me more than most and EA is nothing less than shambolic. Would own an R1S if I lived in the suburbs.
I've talked to several people who say they won't ever buy a VW because of DieselGate. FWIW I've long been suspicious/skeptical of Tesla's staying power once the rest of the car manufacturing industry started taking EVs seriously, so my disinclination to buy anything Tesla stems from more than a mere dislike for its putrid owner
Model Y test drive set for next week, Tesla called to confirm last night. Going to aim for the Long Range model at 330 miles of range to consider taking the EV on road trips.
First time driving, but I've been a passenger in a Model 3 a couple of times and briefly rode in an ID4 a few months back.
So I’ve got a 5 and 3 year old, two car seats in the back of my ev6. I have plenty of space for storage and room for the kids and when the seats are out the legroom is actually awesome for adults. Backseat is very roomy, and hatch is more than enough for grocery’s and trips to the ball fields etc.
EV6 and Ioniq5 both have about the same amount of rear seat and cargo space; I'd think that both would be an excellent option for those with two small kids
I’d assume as much, I didn’t look at the ioniq5 because I personally preferred the look of the ev6 but that’s just personal preference. Absolutely love the vehicle.