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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 14, 2023 3:33 AM
708 Comments
Joined Sep 2003
axmanJan 14, 2023 3:33 AM
708 Comments
thanks. in for one. lol
Jan 14, 2023 3:33 AM
527 Comments
Joined Jun 2007
BlackFridayMattersJan 14, 2023 3:33 AM
527 Comments
Any way to get Michelin's instead of Hankook's on my Model 3 Long Range?
1
Jan 14, 2023 3:35 AM
124 Comments
Joined Nov 2004
home3000Jan 14, 2023 3:35 AM
124 Comments
Quote from qiushengxyz :
If I buy it today, can I get the $7500 credit in my tax return for 2022? Or do I have to wait for the tax return for 2023 in next year?
2023 tax year which file in 2024
Jan 14, 2023 3:37 AM
147 Comments
Joined Oct 2017
LovePotion9Jan 14, 2023 3:37 AM
147 Comments
Quote from thund3rcat :
7 seat cap is 80k... on the website right now.

Price Caps
The vehicle price at time of delivery must not exceed the following caps. This price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees.
Model 3: $55,000
Model Y with 5 seats: $55,000
Model Y with 7 seats: $80,000
They must updated - At the time this was posted everything is cap @ $55K. Thanks for update.
Jan 14, 2023 3:41 AM
25 Comments
Joined Mar 2011
ChiliPepper101Jan 14, 2023 3:41 AM
25 Comments
Quote from bbdoc :
$7.5k tax credit only if AGI
Should be offered to everyone like the previous credit. Wonder if the cost will go up or down in March. With Elan it's anyone's guess!
Jan 14, 2023 3:42 AM
430 Comments
Joined Jan 2006
boogakJan 14, 2023 3:42 AM
430 Comments
Quote from NawazA :
Pulled the trigger on it! Does anyone know if you have to finance through Tesla or can you finance through 3rd party bank? Gracias.
You can finance thru 3rd party, I used Bank of America when I bought my Model 3 back in December 2019.
Jan 14, 2023 3:43 AM
53 Comments
Joined May 2013
sxsundaJan 14, 2023 3:43 AM
53 Comments
Quote from Travis64 :
I knew this was going to happen!
Preformance só temping
Edit maybe not
"Price Caps
The vehicle price at time of delivery must not exceed the following caps. This price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees.
Model 3: $55,000
Model Y with 5 seats: $55,000
Model Y with 7 seats: $80,000"
It excludes destination fee $1390 as well

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Jan 14, 2023 3:45 AM
98 Comments
Joined Dec 2009
Zetaplus93Jan 14, 2023 3:45 AM
98 Comments
Quote from FishKilla :
First, I totally agree having an EV as a second or third car for around town and short commutes has a lot of advantages. I had one for over 2 years and still drive a model 3 from time to time.

My point is that most people don't keep a car for 10 years like your comparison and most modern cars don't need the same maintenance as one from 20 years ago. Just oil changes and that has come a long way too with synthetic.

It's a little unfair to compare a Leaf to an Avalon, but usually when comparing an ICE vs EV from same manufacturer it takes more years to recoup to upfront cost through saved money on maintenance than the average person will own it
True, if you don't keep your car for that long. Though if you're trading car less than 10 years, you're going to be paying more per year, whether electric or gas.

2013 Avalon isn't that old. Maybe things have changed with 2020's models, but I doubt maintenance with gasoline cars have been reduced vs my 2013 Avalon.

Lastly, comparing the LEAF to an Avalon actually puts the LEAF at a disadvantage since Avalon has a higher upfront cost than, say, a Mazda 3 or similar vehicle (which is a better comparison with the LEAF as it's roughly the same size).

Anyway, at least I'm convinced that EVs cost less per year vs gasoline cars when comparing in the same class. It's even more so given the government subsidies that's being handed out.
Jan 14, 2023 3:46 AM
152 Comments
Joined Jul 2005
mofofofoJan 14, 2023 3:46 AM
152 Comments
any suggestions for a decent new auto loan finance rate?
Jan 14, 2023 3:48 AM
535 Comments
Joined Nov 2007
pugxiwawaJan 14, 2023 3:48 AM
535 Comments
Quote from tttred :
So my Model Y configuration with no options come to 54,630 incl dest and order fee, it shows on the page I qualify but the IRS page for model Y 5 seater is 55K. Do I need to add more options or am I good to be eligible, please help
You good. Fee and destination are not part of 55k limitation. You can select different color like silver or blue and still qualify.
Jan 14, 2023 3:49 AM
14 Comments
Joined Dec 2022
TalentedTree957Jan 14, 2023 3:49 AM
14 Comments
If I order from the inventory how do I do in person pick up? Do they charge for home delivery or it's free?
Jan 14, 2023 3:50 AM
535 Comments
Joined Nov 2007
pugxiwawaJan 14, 2023 3:50 AM
535 Comments
Quote from pointbob :
so i guess the recession is all bullshit if there's so many high rollers in america to afford a 50k car with an interior that's worse then a camry. you all know it takes at least 10-15 years of driving an ev before you can break even depending on fuel prices. yeah. you care lol.
Hey look another salty one who's clueless. Certainly a few of these today showing up to thread crap.
1
Jan 14, 2023 3:51 AM
586 Comments
Joined Jan 2007
dtwizzyJan 14, 2023 3:51 AM
586 Comments
Quote from ChiliPepper101 :
Should be offered to everyone like the previous credit. Wonder if the cost will go up or down in March. With Elan it's anyone's guess!
Was wondering the same thing. If I read it correctly, in March they're going to give specifics on how much of the car and/or battery must be built in the US. At that point I believe there will be a % of a tax credit given to how much is built in the US.
Now idk how much is built in the US for Tesla, but I wouldn't see the price going down any further that what it is already. Even surprised they dropped it down to 53k now, when it was just 65k last month and people were still buying
Jan 14, 2023 3:57 AM
433 Comments
Joined Aug 2015
ScottyD83Jan 14, 2023 3:57 AM
433 Comments
I'd be down to own an EV if it ever fit into my price range. But the horror stories about Tesla build quality issues and weird ownership and repair quirks definitely give me pause.

On the low end, I'd be more inclined to go with a VW ID4 over a stripped Model 3 or Model Y. And if I really wanted to throw down $50k+ on a new EV, a Ford Mach-E seems like a more appealing choice than an optioned out 3 or Y. Really, the only way I see a Tesla in my future is a loaded Model S if the Mega Millions comes through this weekend and money is no longer an object.
Last edited by ScottyD83 January 13, 2023 at 08:17 PM.

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Jan 14, 2023 3:58 AM
22 Comments
Joined Feb 2007
kommonJan 14, 2023 3:58 AM
22 Comments
Quote from ShawnS4430 :
Tesla was supposed to meet with the BPU in charge of the NJ charge up program. They need to get the model y added to the list of eligible vehicles, but it should not be a problem as it meets eligibility now. Nothing definite yet but looks promising
from what I understand Charge up incentive of 2k is only available if car costs 55k or less so model Y 7 seater won't be elgible if you wanna take full $7500 federal credit

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