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expiredMurraytheDemonSkull posted Jan 13, 2023 4:18 AM

2023 Tesla Model Y + $7,500 Federal Tax Credit

$52,990

$52,990

(For Qualifying Buyers)
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Deal Details
Tesla has dropped the base price of the Tesla Model Y from $65,990 down to $52,990. This price reduction means the Model Y now qualifies for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member MurraytheDemonSkull for finding this deal.

Additionally, the base prices of all Tesla vehicles have been reduced. The base Model 3 is now $43,990, which is $3,000 lower than before. The Model 3 Performance is now $53,990, which is $9,000 lower than before, and now qualifies for the tax credit.

Editor's Notes

Written by RazorConcepts
  • This is $13,000 lower (19% savings) than the previous base price.
  • Factoring in the tax credit, the price of the Model Y today is $20,000 less than one purchased in December 2022.
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300,000 for married couples filing jointly
    • $225,000 for heads of households
    • $150,000 for all other filers
  • The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
  • Refer to the forum thread for additional deal discussion.

Original Post

Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Tesla has dropped the base price of the Tesla Model Y from $65,990 down to $52,990. This price reduction means the Model Y now qualifies for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member MurraytheDemonSkull for finding this deal.

Additionally, the base prices of all Tesla vehicles have been reduced. The base Model 3 is now $43,990, which is $3,000 lower than before. The Model 3 Performance is now $53,990, which is $9,000 lower than before, and now qualifies for the tax credit.

Editor's Notes

Written by RazorConcepts
  • This is $13,000 lower (19% savings) than the previous base price.
  • Factoring in the tax credit, the price of the Model Y today is $20,000 less than one purchased in December 2022.
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300,000 for married couples filing jointly
    • $225,000 for heads of households
    • $150,000 for all other filers
  • The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
  • Refer to the forum thread for additional deal discussion.

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12.3K Comments

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Jan 13, 2023 5:49 AM
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Joined Sep 2009
d0min0Jan 13, 2023 5:49 AM
1.4K Comments
Quote from SDJunkie76 :
Your claimed capital losses will come off your taxable income, reducing your tax bill. Your maximum net capital loss in any tax year is $3,000. The IRS limits your net loss to $3,000 (for individuals and married filing jointly) or $1,500 (for married filing separately).

The 7.5k is on taxes paid not income.
so if i lost 20k in stocks, but made 70k at my job, i only get taxed on 50k right?
1
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Jan 13, 2023 5:50 AM
189 Comments
Joined Feb 2012
pnhan89Jan 13, 2023 5:50 AM
189 Comments
Quote from carolin1995 :
Sorry, question on model 3 rwd. How much was it in Nov? Dec? And now? I know there is a tax credit now, but did the price from Tesla itself change too?
Model 3 RWD was about $46K out the door in December with the $7500 discount included.
Jan 13, 2023 5:53 AM
121 Comments
Joined Mar 2005
robsantosJan 13, 2023 5:53 AM
121 Comments
Of course, I learn about this on Slickdeals! Repped!!!!!
Jan 13, 2023 5:55 AM
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Core2QuadJan 13, 2023 5:55 AM
6.1K Comments
Quote from discostu :
When is it expected for them to reincorporate radar back into their cars?
Never? They chose to go with cameras and one software build, not maintain multiple technologies and software. AFAIK even cars with radar, those sensors are disabled now.
6
Jan 13, 2023 5:56 AM
642 Comments
Joined Feb 2008
GnomeslayerJan 13, 2023 5:56 AM
642 Comments

Our community has rated this post as helpful. If you agree, why not thank Gnomeslayer

Highly recommend if you're considering a Tesla (or any car for that matter) that you rent one for a week or two and make sure you like it. Personally did this with a Tesla in the past and I'm glad I did, because it just wasn't the car for me I decided.

Honestly I'm shocked folks make such a big purchase like a car with just a single test drive, or in the case of Tesla's that you might order online, no test drive at all! Make sure you really like the car, rent one for a couple weeks and see how it feels!
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Jan 13, 2023 5:56 AM
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SDJunkie76Jan 13, 2023 5:56 AM
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Quote from d0min0 :
so if i lost 20k in stocks, but made 70k at my job, i only get taxed on 50k right?
You get taxed on 67k - you can only take 3k/yr and carryover the 17k - Next year you take 3k and carryover the 14k and so on.. until you zero it out.
1
Jan 13, 2023 5:57 AM
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California-BoyJan 13, 2023 5:57 AM
1.2K Comments
Quote from bill_tong :
Why are people saying they lost money if they bought their car a month ago. Didn't. Tesla give you $7500 discount plus 10000miles of free super charging ? This was in prep for the tax credits coming in 2023 and to get their sales in 2022.
Now there is big price drop and tax credit on top. Earlier it was only price drop/discount - no tax credit. Of course those who bought it during the December deal only lost few thousands in this case. Hope it it is clear.
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Jan 13, 2023 5:57 AM
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Joined Nov 2015
AseemS9329Jan 13, 2023 5:57 AM
8 Comments
Does NJ offer any additional credit on top of the Federal 7.5K credit?
Jan 13, 2023 5:58 AM
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Joined Mar 2010
kusanagizJan 13, 2023 5:58 AM
345 Comments
Quote from d0min0 :
so if i lost 20k in stocks, but made 70k at my job, i only get taxed on 50k right?
Unfortunately not. Realized losses (such as stocks) are capped at $3,000 ($1,500 if married filing separately) . So if you lost 20k in 2022 and let's say you're married filing jointly, you can write off $3,000 for that year and do a capital loss carry for each subsequent years up to $3,000. So it'd take you 7 years to write off your 20k loss assuming you don't have any more overall realized losses for the subsequent years. At least this is my understanding as this will be the first year I'll be in such a situation.

I'll be having a carry over for a loooong time myself.
Last edited by kusanagiz January 12, 2023 at 10:00 PM.
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Jan 13, 2023 5:58 AM
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supernomanJan 13, 2023 5:58 AM
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Quote from Core2Quad :
Never? They chose to go with cameras and one software build, not maintain multiple technologies and software. AFAIK even cars with radar, those sensors are disabled now.
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Jan 13, 2023 6:00 AM
421 Comments
Joined Nov 2011

This comment has been rated as unhelpful by Slickdeals users.

Expert
This user is an Expert in Tech & Electronics
Jan 13, 2023 6:01 AM
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TofuVic
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This user is an Expert in Tech & Electronics
Jan 13, 2023 6:01 AM
19.7K Comments
Quote from Core2Quad :
Never? They chose to go with cameras and one software build, not maintain multiple technologies and software. AFAIK even cars with radar, those sensors are disabled now.
There was a report from December 2022 stating Tesla may have radars added back to their vehicles in early 2023, but there aren't details about in what capacity.

Source: https://electrek.co/2022/12/06/te...-concerns/

I hope this helps,
Tofu Vic
Last edited by TofuVic January 12, 2023 at 10:20 PM.
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Jan 13, 2023 6:01 AM
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Jan 13, 2023 6:01 AM
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TotalKonfuzionJan 13, 2023 6:01 AM
2.4K Comments
Quote from TofuVic :
If anyone is interested in hard numbers to figure out how much less expensive it is now compared to Tesla's best deal of 2022, I bought a Tesla Model Y Long Range 7-Seater with white interior in late December 2022.

Excluding taxes and fees, I paid $63,940. It's now $59,630, which is $4,310 less, and it is eligible for the $7,500 tax credit. That means if I didn't buy it in December and bought it today, I would have saved $11,810 + sales tax, so a bit over $12,000 in savings I missed. (I got 10,000 Supercharger miles, which is worth somewhere between $500 and $1,000.) With taxes and fees, I paid $71,578.55 in total.

I hope this helps,
Tofu Vic
From posting toilet paper deals to buying Tesla's now. Success stories do happen!
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Jan 13, 2023 6:02 AM
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RazorConceptsJan 13, 2023 6:02 AM
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Quote from sLick415 :
Any unused tax credit may be carried forward to the following year.
"The maximum credit is $7,500. It is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years"
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