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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 10:44 PM
399 Comments
Joined Nov 2014
EliteDealHunterJan 13, 2023 10:44 PM
399 Comments
Quote from Teck0427 :
I own a Tesla model 3, it's a sedan not a compact. The model Y is not small, what are you smoking
I've owned two Model 3s. They are small cars. It is not comfortable in the back seat for very long. If you want a sedan get a Model S.
Jan 13, 2023 10:44 PM
304 Comments
Joined Oct 2022
HilariousSummer791Jan 13, 2023 10:44 PM
304 Comments
Quote from cannon007 :
I will get 2 if it drop that low
Tesla

it will
There is low demand for tesla right now
Elon is crying because of it.
1
2
Jan 13, 2023 10:45 PM
2K Comments
Joined Aug 2014
yujieJan 13, 2023 10:45 PM
2K Comments
Quote from HilariousSummer791 :
BMW > TELSA

Tesla is boring man. The car has NO soul.
I agree on this especially now seeing so many Tesla on the road. I bought my car M240i because there isn't a lot like this on the road. But if they announced this a week earlier, it might sway me with so much of a discount.
Jan 13, 2023 10:45 PM
5.2K Comments
Joined Dec 2009
SDSummerDayJan 13, 2023 10:45 PM
5.2K Comments
Quote from Khezu :
Is there a way to get the wall connector without the order fee? it almost doubles the price

Wall Connector $350

Order fee $250
order fee is for the car, not the connector
and the order fee is subtracted from the car if you take the delivery. if you change your mind, you lose that order fee.
Jan 13, 2023 10:46 PM
189 Comments
Joined Nov 2007
freshwaterJan 13, 2023 10:46 PM
189 Comments
Quote from fresno93720 :
Please clarify for me as I've read different answers
I usually get a tax return of around $2000. Do I get 2000+7500?
Or I'd need to owe the IRS 7500 to maximize the credit?
First you need to satisfy the income requirements. 300k if filing jointly and 150k if filling single. Second you should be paying atleast 7500 in taxes to Fed. So if you getting $2000 in return then add $7500 on top of that. So your return will be $9500 instead of $2000.
Jan 13, 2023 10:46 PM
157 Comments
Joined Jul 2008
rk4750Jan 13, 2023 10:46 PM
157 Comments
Quote from EfficientWalrus7040 :
Donating to charity is a write off. That reduces your taxable income. A tax credit is a dollar for dollar credit against your tax bill. If you owed $10,000 you'd now owe $2,500. If you owed $500 you'd be getting a rebate of $7,000.
Who gives the rebate and how does one cash it?
Jan 13, 2023 10:47 PM
304 Comments
Joined Oct 2022
HilariousSummer791Jan 13, 2023 10:47 PM
304 Comments
Quote from Gdirty5 :
If I qualified for the tax credit, the model Y would be very appealing. Unfortunately no credit available for me. Also the chevy BOLT is available with tax credit and recently had a similar price drop. You can get it for ~17k if you can find one without a mark up (after tax credit).
Bad idea to buy now. Tesla will do 10K drop later
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Jan 13, 2023 10:47 PM
2 Comments
Joined Jan 2015
dennisqleJan 13, 2023 10:47 PM
2 Comments
Just to make sure I am understanding this right: the specifications of the tax credit is only guaranteed for vehicles DELIVERED by end of March. For vehicles delivered after March, certain aspects of the tax credit can change, specifically, the amount of the tax credit.

So worst case scenario is that Tesla is estimating all deliveries to be before the end of March, with some being delivered AFTER March, and those who take delivery after March are subjected to the possibility that the tax credit is less?
Jan 13, 2023 10:48 PM
509 Comments
Joined May 2018
vndragonslayerJan 13, 2023 10:48 PM
509 Comments
Quote from fresno93720 :
Please clarify for me as I've read different answers
I usually get a tax return of around $2000. Do I get 2000+7500?
Or I'd need to owe the IRS 7500 to maximize the credit?
read us line 24 on your 1040.. if its higher than 7500.. u get max credit
1
Pro
Jan 13, 2023 10:48 PM
2.4K Comments
Joined Oct 2006
samgotit
Pro
Jan 13, 2023 10:48 PM
2.4K Comments
Why not. Now to figure out the charger.

If you have a property that abuts right against the sidewalk, how do you deal with charging given no driveway or garage?
Jan 13, 2023 10:49 PM
9 Comments
Joined Mar 2022
livinallin5Jan 13, 2023 10:49 PM
9 Comments
Quote from Kensic :
go back to 2021 tax paper... look at line 24 see if its more than 7500$. atleast that much to maximize the credit. and this is regardless of your withheld that you set up with W4 form.
But for new purchasers, this year, we would just need to owe $7500+ at the end of the year to get the max credit, correct?
Jan 13, 2023 10:49 PM
150 Comments
Joined Aug 2021
J3WS4J3SUSJan 13, 2023 10:49 PM
150 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.
False, the government clearly said January 1st or 3rd. It's the 13th and Tesla just adjusted for the credit bro lol
Jan 13, 2023 10:49 PM
509 Comments
Joined May 2018
vndragonslayerJan 13, 2023 10:49 PM
509 Comments
Quote from yujie :
I agree on this especially now seeing so many Tesla on the road. I bought my car M240i because there isn't a lot like this on the road. But if they announced this a week earlier, it might sway me with so much of a discount.
better to buy a ford pinto.. none on the road.. very unique
Jan 13, 2023 10:50 PM
238 Comments
Joined Oct 2013
mardimusJan 13, 2023 10:50 PM
238 Comments
Ordered one. Good time to get in with the incentives. Thanks for posting.

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Jan 13, 2023 10:50 PM
535 Comments
Joined Nov 2007
pugxiwawaJan 13, 2023 10:50 PM
535 Comments
Quote from EliteDealHunter :
People gonna be pissed in a few months when the new 3 and Y come out to replace the stale 7 year old designs they are selling now. Don't say we didn't warn you.
So people gonna be pissed when apple releases iPhone 15 in a few months? Got it.

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