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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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Feb 3, 2023 12:39 AM
1.4K Comments
Joined Oct 2017
techie_reviewFeb 3, 2023 12:39 AM
1.4K Comments
Quote from canboy :
Do you provide VIN with loan application submission? Or after the fact when approval is done.
funny enough i haven't even got my VIN yet, but for my loan application they didn't ask for a VIN just which car it was
Feb 3, 2023 12:42 AM
2.9K Comments
Joined Jun 2007
iceage2007Feb 3, 2023 12:42 AM
2.9K Comments
Quote from techie_review :
Just got an email from Tower:

Dear ........
Your application has been forwarded to our Underwriting team for review. In any correspondence with Tower, please refer to application number ........

A representative will follow-up if any additional information is required including any additional conditions and/or documentation.
To check the status of your loan application click here.

You can also access your loan application by clicking on the "Check Application Status" link at towerfcu.org located at the bottom of the page under the Quick Links, or within Home Banking.

​Still waiting on VIN for Tesla, ordered 01/17 base white/black
I ordered on 1/18.
Basic white/black.
No VIN.
Delivery changed from 3/16-3/31 to 2/17-3/17.
Feb 3, 2023 12:42 AM
486 Comments
Joined Jan 2011
spyderdsmFeb 3, 2023 12:42 AM
486 Comments
Quote from 2Neolinux :
For me it is local bank in NJ
Went to branch and very pleasant experience, becoming member and get loan approval took about 30 to 40 minutes
66 months at 3.75%

There are no payoff penalties
No need for POA

Debating if I should become member of Tower to take advantage of their lower rates
MYLR ordered on 1/17 so I have time as my EDD is in March
Which local NJ bank did you use?
Feb 3, 2023 12:43 AM
2.9K Comments
Joined Jun 2007
iceage2007Feb 3, 2023 12:43 AM
2.9K Comments
Quote from techie_review :
funny enough i haven't even got my VIN yet, but for my loan application they didn't ask for a VIN just which car it was
They know it's a Tesla is good enough. 👍
Feb 3, 2023 12:45 AM
2.9K Comments
Joined Jun 2007
iceage2007Feb 3, 2023 12:45 AM
2.9K Comments
Any good resources on DYI outdoor 14-50 charger?
Feb 3, 2023 12:50 AM
1.4K Comments
Joined Oct 2017
techie_reviewFeb 3, 2023 12:50 AM
1.4K Comments
Quote from 2Neolinux :
If you get approved by underwriting tomorrow and car gets delivered after 30 days, you have to redo process. I did not know and bank did not tell me until after pulling credit and approving. My order date is same 01-17
ahhhh i had no idea, but i am hoping to get the car end of feb *fingers crossed*
Quote from nachiket.me :
Can someone answer my towerfcu question? Can a visa holder apply for an auto loan?
No only PR or citizens
Feb 3, 2023 12:59 AM
501 Comments
Joined Feb 2012
Mikey122687Feb 3, 2023 12:59 AM
501 Comments
Quote from techie_review :
funny enough i haven't even got my VIN yet, but for my loan application they didn't ask for a VIN just which car it was
Don't worry, they will ask

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Feb 3, 2023 1:15 AM
488 Comments
Joined Nov 2008
bard8910Feb 3, 2023 1:15 AM
488 Comments
Quote from 2Neolinux :
For me it is local bank in NJ
Went to branch and very pleasant experience, becoming member and get loan approval took about 30 to 40 minutes
66 months at 3.75%

There are no payoff penalties
No need for POA

Debating if I should become member of Tower to take advantage of their lower rates
MYLR ordered on 1/17 so I have time as my EDD is in March
Can you tell me which local bank
Feb 3, 2023 1:28 AM
480 Comments
Joined Jul 2013
likzslickFeb 3, 2023 1:28 AM
480 Comments
Finally got an updated delivery to 02/4 - 02/18.
White/black 20inch wheels. Delivery location: central texas.
Feb 3, 2023 1:31 AM
488 Comments
Joined Nov 2008
bard8910Feb 3, 2023 1:31 AM
488 Comments
Quote from likzslick :
Finally got an updated delivery to 02/4 - 02/18.
White/black 20inch wheels. Delivery location: central texas.
When did you order
Feb 3, 2023 1:39 AM
105 Comments
Joined Dec 2013
sunnys4776Feb 3, 2023 1:39 AM
105 Comments
Any GCCU borrowers here. How is the timeline looking . What apr did you lock in ?
Feb 3, 2023 1:40 AM
3.1K Comments
Joined Jul 2011
euuser1398928Feb 3, 2023 1:40 AM
3.1K Comments
Quote from 2Neolinux :
For me it is local bank in NJ
Went to branch and very pleasant experience, becoming member and get loan approval took about 30 to 40 minutes
66 months at 3.75%

There are no payoff penalties
No need for POA

Debating if I should become member of Tower to take advantage of their lower rates
MYLR ordered on 1/17 so I have time as my EDD is in March
Thanks for the info. Local places I've called here say they are near 5%. I wish I could find 3.75. Unfortunately many don't post rates online.
Feb 3, 2023 1:43 AM
1K Comments
Joined Mar 2019
CycloneFWFeb 3, 2023 1:43 AM
1K Comments
Quote from sunnys4776 :
Any GCCU borrowers here. How is the timeline looking . What apr did you lock in ?
I applied for membership back on 1/15 and haven't heard a word from them yet.
Feb 3, 2023 1:46 AM
1.4K Comments
Joined Oct 2017
techie_reviewFeb 3, 2023 1:46 AM
1.4K Comments
Quote from 2Neolinux :
I signed with a local bank for loan

Yep, I see all the posts of Tower unable to keep up with demand
Good Luck
I am originally with tesla loan but if tower comes through i will refinance with them 2.99% is a good deal

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Feb 3, 2023 1:57 AM
405 Comments
Joined May 2018
MaroonCircle6262Feb 3, 2023 1:57 AM
405 Comments
Quote from CycloneFW :
I applied for membership back on 1/15 and haven't heard a word from them yet.
Same No word from Gccu since Jan 18 !!!

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