2024 $7500. "tax rebate"

The difference is if you end up not qualifying because of exceeding the msrp limit even with options or exceed the maximum income then you have to pay IRS back.

Plus the ev has to be made here which excludes Toyota.

 

The way I'm reading it - It's not finalized yet. It's in the public comment faze before completion and implementation.

That's assuming we don't get a government shut-down after Nov. 15......

 

It will make purchasing an ev much simpler and economical in regards to immediate cash outlay, or reduced financing, and a lot more people will qualify

 

No matter what they do, I still qualify.

 

exactly, should qualify a lot more people and move more ev's!

 

More made here evs.

 

if tesla holds pricing, i could walk in january 1st and buy a model 3 for 30k, and get another 4k from the state!

 

yah, i can't figure the leasing thing out. i looked at a few different models, and the leases seemed very expensive to me. i feel like the mfg/dealers are putting the money in their pockets

 

That's exactly what's going to happen. Dealers will only lease cars for zero down, using the $7500 as payment. They get the car back on a short term lease and sell it again. Or some variation of that scheme. All that's going to do is keep EV prices up - if you can even get your hands on one. Whenever government thinks they're helping, they're actually just skewing market forces. Look at history, when government incentives go away, the car price comes down. The smarter OEM's start offering rebates to move their cars, rather than dilute their pricing models. Inflation eventually will catch up with their pricing models, then the rebates will cease. Tesla only started lowering the price of their cars as they began experiencing surpluses. They were building them faster than they could sell them.

Just my 2 cents..

 

Yeah I discovered that on a used M3 I don't qualify for Federal, State offers zilch. Evergy offers $500 rebate if I get my Ev charger installed by a licensed electrician, (which will cost me $1,800 more than doing it myself) no thanks. So yeah pretty much just buy a Tesla and don't apply for any rebates at all in 2023. Maybe 2024 will be better.

 

in the northeast, ev's are piled up on the lots, and even more used available.

so different than california, dealers and mfg's are going to have to do something to move them.

the only thing you can't get is a bolt, or any model that isn't loaded with options.

tesla is still about a month out, which is pretty good

 

i don't think this is the best place for complicated irs questions. i would wait for a final ruling for 2024, if it isn't available yet. there's so much misinformation on the net...

 

NPR article:

The $7,500 tax credit for electric cars will see big changes in 2024. What to know

It no longer matters how much you owe in taxes
This is another big benefit to taking the credit as a rebate: You get the full credit, regardless of your tax liability.

 

Yep; I'd wait for the ink to dry before moving forward with a purchase. With our do-nothing - grab the headlines Congress; we'll still be talking about this well into next year. The only difference is how "they" will retro the credit back to the beginning of 2024 - LoL

I never count my eggs before they hatch - that's just me....

 

Fortunately it's out of the hands of Congress since the Inflation Reduction Act., which includes the EV Tax credit, passed into law. It's still overly complicated, but from the NPR article I posted above, sounds like getting the credit as a dealer rebate is less so.