-Wiznaz (mod)
As of Feb 3, IRS the Treasury Department just fixed the EV tax credit's Tesla Model Y problem and the cap is $80k for ALL models now.
Ordered Date and App Time; City/State; Model; Delivery Date
01/13/2023; 7pm CST, Dallas, TX; MY, Est Jan 22nd to Feb 5th
01/13/2023; Ohio; M3, Est Mid Feb to March
01/15/2023; Oahu, Hawaii; MY; February 19 - March 26
01/14/2023; 9pm; Los Angeles, CA; MY (Blue); February 4 - March 4 (edit// now February 14 - March 21 as of 1/24/23) (edit2// February 8 - February 22 as of 1/30/23) (edit3// VIN assigned [PA066*]; February 15 - February 24 as of 2/4/23)
01/13/2023; 11:29am EDT; Boston/MA; MY White/Black wheels; January 19 - came with defect and went promptly to body shop without picking up
01/13/2023: 12pm PT, Los Angeles, CA; MY (white) no options; Jan 26 - Feb 26, then 10 days later got VIN, then three days later scheduled delivery for Feb 5.
Who Qualifies
You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032.
The credit is available to individuals and their businesses.
To qualify, you must:
Buy it for your own use, not for resale
Use it primarily in the U.S.
In addition, your modified adjusted gross income (AGI) may not exceed:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit.
The credit 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.
https://www.irs.gov/credits-deduc...quireme
The sale qualifies only if:
You buy the vehicle new
The seller reports required information to you at the time of sale and to the IRS.
Sellers are required to report your name and taxpayer identification number to the IRS for you to be eligible to claim the credit.
The new law requires the POS (Dealer or manufacturer) to report a bunch of information on the buyer to the IRS.
Such as:
Seller/Dealer name and taxpayer ID number
Buyer's name and taxpayer ID number
Maximum credit allowable under IRC 30D for new vehicles or IRC 25E for previously owned vehicles
Vehicle identification number (VIN), unless the vehicle is not assigned one
Battery capacity
Date of sale
Sale price
For new vehicles, verification that the buyer is the original user
CALIFORNIA
Now the Model 3 and Y do qualify for CVRP rebate up to $4,500 ($2,000 + $2,500 income eligible ) up to $7,500 after February 2023.
https://cleanvehiclereb
Summary of February 28, 2023 updates:
……
In addition to the standard CVRP rebate, consumers with household income less than or equal to 400 percent of the federal poverty level are eligible for an increased rebate amount of $5,500 (previously $2,500) for BEVs and PHEVs, and $3,000 (previously $2,500) for FCEVs. This amounts to:
……….$7,500 for battery-electric vehicles (previously $4,500)
https://cleanvehiclereb
B Thank you for your email. Vehicle manufacturers must apply for Clean Vehicle Rebate Project (CVRP) eligibility with the California Air Resources Board (CARB) and meet a number of program requirements. If all program requirements are met, the vehicle is added to the list of eligible vehicles on our website. At this time, Tesla has not applied.
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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.
For those who do order, I recommend this Tesla Prep guide [glideapp.io] to check for build quality issues on delivery day.
I hope this helps,
Tofu Vic
The disclosure, which was first reported by Electrek, comes as the company faces scrutiny over the safety and capabilities of its standard advanced driver assistance system known as Autopilot and the $15,000 optional upgraded product branded as "Full Self-Driving." Tesla FSD beta software offers some automated driving features but is not a self-driving system.
The luxury EV-maker has long claimed it could reach full autonomy through a "vision only" approach that shuns other sensors like lidar and radar in favor of cameras and a deep neural network that quickly processes a vehicle's surroundings and responds in real time. Tesla CEO Elon Musk previously promised to "solve" full self-driving by the end of this year (he's also promised Tesla would get there every year for roughly nine years now). He has recently admitted the problem will take longer to solve.
And perhaps, as every other autonomous vehicle technologist says, it's not actually achievable yet through cameras alone.
The company began removing radar from its vehicles last May. In October, Tesla removed its 12 ultrasonic sensors from Model 3 and Model Y vehicles built for North America, Europe, the Middle East and Taiwan. Ultrasonic sensors measure distance via ultrasonic waves and are used as proximity sensors to support anti-collision safety systems, particularly in parking use cases.
Now it appears radar is back. It's not yet clear which models will get the new radar. The type of radar Tesla intends to market next year is of a frequency that's allocated by the FCC for ADAS use cases, according to Ram Machness, chief business officer at Arbe Robotics, which produces ultra-high-resolution 4D imaging radar.
Tesla had originally filed with the FCC to use the new radar — which is described in filings as "76-77 GHz Automotive Radar" — in its vehicles back in June.
"From the frequency of operation (76-77GHz) as well as the mechanical design of the sensor from Tesla's FCC filing, it appears that this radar would be utilized in ADAS applications," Steven Hong, VP and general manager of radar technology at semiconductor company Ambarella, told TechCrunch.
He noted that while the performance of this "edge" radar sensor will be limited, it's a positive development that Tesla is looking to add radar to its perception stack for safety-critical, robust performance.
Earlier this year, the FCC had granted a confidential treatment to Tesla in order to keep the details of the new radar under wraps. Late last month, Tesla applied to extend that confidentiality treatment another 60 days from its date of expiration, which is December 7.
i hope this answers your question
Wayback Machine if anyone wants to do some research: https://web.archive.org/web/20220...ely/design
I'll throw out some notable 'milestones' , focusing only on the Model Y LR base model:
* Feb 2021 - $49,000 - Roughly the lowest price for the Y LR (not including the SR @ $42k)
From this point forward, Tesla started increasing the price about $1-2 every month or so, until it peaked out at $66,000. Ex:
* May 2021 - $51,000
* July 2021 - $53,000, etc...
* Feb 2022 - $59,000, etc...
* July 2022 - $66,000 <-- peak
* Dec 1 2022 - $66,000 (-$3750 credit/refund)
* Dec 15 2022 - $66,000 (-$7500 credit/refund)
* Jan 1 2023 - $66,000 back to peak (-$7500 fed tax credit only on 7-seater)
* Jan 13 2023 - $53,000 (-$7500 fed tax credit on base model + 7-seater but not performance)
* Jan 23 2023 - $53,500 (-$7500 fed tax credit on base model + 7-seater but not performance)
* Feb 4 2023 - $55,000 (-$7500 fed tax credit on all models)
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https://thehill.com/policy/energy...tions/amp/
"In late December, Treasury said it would delay the rollout of these strict new requirements until March. But under Manchin's bill, the requirements would retroactively take effect on Jan. 1."
I don't know what Manchin's problem is but he is pushing hard for ev tax credit to go away asap specially the $3750 related to battery requirement. No company can meet those requirements.
That said, the paperwork I need to send back to Tower for the loan means I'm likely going to pay cash and then refi from them. For many, Tesla provides the vin when the car is ready for pickup and gives you three days. No way od be able to get the form notarized, TFCU process it, and a check overnighted in that timeframe.
My Tesla provided VIN but my estimated M3P delivery is Feb 10 -17 so hoping either Tower or GCU can get there stuff together in time to fund the loan to Tesla.
Are you saying its better to pay cash and refinance with once a CU if it does not get funded in time? I believe others are financing with Tesla and then attempting refi. Did not know you can refi when there is no loan on the car.
That said, the paperwork I need to send back to Tower for the loan means I'm likely going to pay cash and then refi from them. For many, Tesla provides the vin when the car is ready for pickup and gives you three days. No way od be able to get the form notarized, TFCU process it, and a check overnighted in that timeframe.
pay cash and then refi? how that gonna work? I though you can only refi with another lender?
"Manchin doubles down on EV tax credits in climate law, despite trade tensions with Europe
Sen. Joe Manchin III (D-W.Va.) unveiled a bill today to halt tax credits for electric vehicles that don't satisfy the battery sourcing requirements in the Inflation Reduction Act.
The measure could increase tensions in Europe, where leaders already worry that America's climate law will unfairly disadvantage their clean-energy industries, and in Washington, where the Biden administration is still racing to implement the landmark law.
The legislation, dubbed the American Vehicle Security Act, would direct the Treasury Department to stop issuing tax credits for EVs that don't comply with the climate law's battery sourcing provisions."
Worst case scenario is that if Tower doesn't offer a cash out option, I'll just get a loan from another lender to then refi at Tower. I prefer not to use Tesla's process since I rather finance the whole thing and leave my cash invested. The money I'll use for the Model Y was going to be for Treasury Bill purchases, but it's fine if that is delayed a month.
Worst case scenario is that if Tower doesn't offer a cash out option, I'll just get a loan from another lender to then refi at Tower. I prefer not to use Tesla's process since I rather finance the whole thing and leave my cash invested. The money I'll use for the Model Y was going to be for Treasury Bill purchases, but it's fine if that is delayed a month.
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Worst case scenario is that if Tower doesn't offer a cash out option, I'll just get a loan from another lender to then refi at Tower. I prefer not to use Tesla's process since I rather finance the whole thing and leave my cash invested. The money I'll use for the Model Y was going to be for Treasury Bill purchases, but it's fine if that is delayed a month.
Smart move, thank you for the info.
That said, the paperwork I need to send back to Tower for the loan means I'm likely going to pay cash and then refi from them. For many, Tesla provides the vin when the car is ready for pickup and gives you three days. No way od be able to get the form notarized, TFCU process it, and a check overnighted in that timeframe.
https://thehill.com/policy/energy...tions/amp/
"In late December, Treasury said it would delay the rollout of these strict new requirements until March. But under Manchin's bill, the requirements would retroactively take effect on Jan. 1."
I don't know what Manchin's problem is but he is pushing hard for ev tax credit to go away asap specially the $3750 related to battery requirement. No company can meet those requirements.
Sign up for a Slickdeals account to remove this ad.
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