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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.

Original Post

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12.3K Comments

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Jan 13, 2023 4:11 PM
5K Comments
Joined Jan 2009
bigballsJan 13, 2023 4:11 PM
5K Comments
After you add the goodies, the tax credit fall off.
Jan 13, 2023 4:12 PM
3K Comments
Joined Feb 2011
KensicJan 13, 2023 4:12 PM
3K Comments
Quote from livelifeup22 :
Nope. It is a non refundable tax credit so if you overpaid you will get nothing at all.
This is the question everyone asks. When people set up the W4…which a withheld tax or prepay tax. You will get your prepay tax back. The credit of 7500$ will hit first.
Jan 13, 2023 4:12 PM
6.2K Comments
Joined May 2009
SkyKing02Jan 13, 2023 4:12 PM
6.2K Comments
Quote from livelifeup22 :
You are right but this is what I meant in a simpler way. For a majority of people asking, the term overpaid means they are getting a tax refund. Which automatically discounts them from getting a credit. I'm just trying to say in simple terms so folks can do their research.
let's say you owe the IRS $2500, then you don't have to pay $2500 but won't get the full $7500 credit? You only get $2500 credit?
Jan 13, 2023 4:12 PM
1.1K Comments
Joined Dec 2011
Loveday22Jan 13, 2023 4:12 PM
1.1K Comments
Quote from Mydiscover :
Insurance on my Model Y LR is approximately $1150 a year. That's on 300k/100K Full coverage with $500 deductible. Plus I have Umbrella insurance on top of that coverage for additional $300 a year. All with Geico.
That's actually not that cheap. Although certainly cheaper than other Tesla owners I have seen. Even a Bmw 3 series is only about $700 a year with similar coverage assuming driver has a good driving history.
Jan 13, 2023 4:12 PM
320 Comments
Joined Nov 2009
tefunkJan 13, 2023 4:12 PM
320 Comments
Quote from hexdexorex :
Is there a reason people wouldn't prefer Ioniq 5 / EV 6 at this point? Besides Tesla's charging network?

Tesla cars seem dated at this point (exterior design). and the brand carries a ton of baggage.
Big markups.
Jan 13, 2023 4:12 PM
1.1K Comments
Joined Dec 2011
Loveday22Jan 13, 2023 4:12 PM
1.1K Comments
Quote from SkyKing02 :
let's say you owe the IRS $2500, then you don't have to pay $2500 but won't get the full $7500 credit? You only get $2500 credit?

Delete
Last edited by Loveday22 January 13, 2023 at 09:00 AM.
Jan 13, 2023 4:13 PM
2.4K Comments
Joined Oct 2012
reqUser098Jan 13, 2023 4:13 PM
2.4K Comments
Quote from livelifeup22 :
That is correct. You will need to adjust your W4 to pay less enough that you will owe at least 7500 next year…and then offset that with this credit.
what if i over-paid tax for 2023, will i get refund when filing tax or i lost out on $7500

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Jan 13, 2023 4:13 PM
4.5K Comments
Joined Aug 2005
MydiscoverJan 13, 2023 4:13 PM
4.5K Comments
Quote from livelifeup22 :
That's actually not that cheap. Although certainly cheaper than other Tesla owners I have seen. Even a Bmw 3 series is only about $700 a year with similar coverage assuming driver has a good driving history.
3 series and a electric car are not comparable. Go back to sleep.
Jan 13, 2023 4:13 PM
70 Comments
Joined Apr 2011
fresh82Jan 13, 2023 4:13 PM
70 Comments
why does everyone assume they'll get the full $7500? battery component part of the ira has yet to be determined. currently the battery materials composition is not >=50% sourced in the US. so it's safer to assume you'll be getting $3750 instead
Jan 13, 2023 4:13 PM
69 Comments
Joined Feb 2011
teslafan_netJan 13, 2023 4:13 PM
69 Comments
Quote from Nashaaron :
Do Tesla stick to the delivery estimate? It say Jan to March 2023. Will they be able to deliver before March 2023?
If you sit around and wait then it will not. The worst case is you'll lose the non refundable $250 ordering fees and not pick up the car.
Jan 13, 2023 4:13 PM
7 Comments
Joined Oct 2009
subx0vaJan 13, 2023 4:13 PM
7 Comments
Quote from SharpSnow627 :
Any thoughts on options for people like us? SHould we trade this back in and buy a new tesla? Is it worth trying?
No you're going to lose more on trading then rebuying. Just consider it as a lesson learned and think twice before buying from Tesla again.
Jan 13, 2023 4:14 PM
3.4K Comments
Joined Jan 2010
Indio22Jan 13, 2023 4:14 PM
3.4K Comments
Quote from SAtaNiCpAnIc :
Found the lefty Musk hater.
No, I'm the guy who still has some Tesla stock, and has watched Musk with his antics, help run it down of late, but nice try. Musk should lay off the tweets and conspiracy stuff, and focus on running Tesla. He's turning off more of his customer base than he is gaining. It's not like some rolling coal guy loving his tweets, is gonna say hey, now I've got to have an EV Tesla go green, lol.
2
Jan 13, 2023 4:14 PM
178 Comments
Joined Jun 2009
BzchanJan 13, 2023 4:14 PM
178 Comments
Quote from hexdexorex :
Is there a reason people wouldn't prefer Ioniq 5 / EV 6 at this point? Besides Tesla's charging network?

Tesla cars seem dated at this point (exterior design). and the brand carries a ton of baggage.
Dealers! I can't for the life of me find one in California that isn't adding anywhere between $5-10k on top of the cars price. And that's not even including the "ordering fee" some dealerships require before even getting the privilege to purchase a car.

I do agree with your other points, and sadly that won't matter to some. Good luck with your increased connectivity subs coming soon to your new "cheaper" Tesla!
Jan 13, 2023 4:14 PM
1.1K Comments
Joined May 2011
luo2010Jan 13, 2023 4:14 PM
1.1K Comments
is the delivery have to happen before the end of March or its end of Feb to be qualify 7500?

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Jan 13, 2023 4:14 PM
414 Comments
Joined Nov 2014
zmm61Jan 13, 2023 4:14 PM
414 Comments
Not sure why there is $6000 and $15000 for advanced autopilot. Can the car drive itself if pay without these options?

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