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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 4, 2023 1:42 AM
1 Comments
Joined Dec 2019
ScarletTank159Feb 4, 2023 1:42 AM
1 Comments
Quote from tommyvelocity :
It will be 2023 taxes but you can use your MAGI from 2022 or 2023.
I don't see any mention of using 2022 MAGI on the IRS site. If you don't mind, can you share where you gathered that?
Feb 4, 2023 1:43 AM
1.4K Comments
Joined Oct 2017
techie_reviewFeb 4, 2023 1:43 AM
1.4K Comments
Quote from turns2stone :
Not if built in Austinsh
should have added "if it was built in fremont"
Pro
Feb 4, 2023 1:43 AM
826 Comments
Joined Jul 2007
ethanhunt1236
Pro
Feb 4, 2023 1:43 AM
826 Comments
Quote from Slayer.I.Am :
4k confirmed. we already got one.. once you order Tesla will send you forms to complete the process.
Hey, is it 4k on base model or 4k on model 3 performance? Thanks
Pro
Feb 4, 2023 1:46 AM
826 Comments
Joined Jul 2007
ethanhunt1236
Pro
Feb 4, 2023 1:46 AM
826 Comments
Quote from Eltoroz00m :
right, got used to replying about Model Y. But 4k for Model 3 depending on MSRP:

"The total incentive amount for an eligible vehicle is $25 per mile of EPA-rated all-electric range, as determined by fueleconomy.gov up to $4,000 for vehicles with a MSRP under $45,000, or up to $2,000 for vehicles with a MSRP between $45,000 and $55,000. Vehicles with an electric range of over 200 miles are eligible for an incentive of up to $4,000, depending on vehicle MSRP. See the program Terms and Conditions for more information on incentive amounts."

And this should be at point of sale.

"Your dealer will submit the application on your behalf and the incentive will instantly be applied to the cost of your new vehicle."
Hey, it's is 4k on base model only , or it also on model 3 performance? Thanks
Feb 4, 2023 1:53 AM
501 Comments
Joined Feb 2012
Mikey122687Feb 4, 2023 1:53 AM
501 Comments
Are you able to change from MYLR to Performance by yourself (app or online) or do you have to call Tesla?
Feb 4, 2023 1:54 AM
4.4K Comments
Joined Feb 2010
turns2stoneFeb 4, 2023 1:54 AM
4.4K Comments
Quote from sidewinder33625 :
or just go with LR to begin with and save yourself some money and trouble while you're at it. then again, if its matrix lights and 1sec faster 0-60 you're after then by all means.
To some folks, the extra $3500 for track mode, lowered suspension, better performance is worth it. There is no right or wrong answer here. Some car companies charge much more, for much less.
Feb 4, 2023 1:56 AM
1.7K Comments
Joined Nov 2006
sidewinder33625Feb 4, 2023 1:56 AM
1.7K Comments
Quote from turns2stone :
To some folks, the extra $3500 for track mode, lowered suspension, better performance is worth it. There is no right or wrong answer here. Some car companies charge much more, for much less.
like i said then go ahead by all means..no one is stopping anyone here lol..

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Feb 4, 2023 1:56 AM
956 Comments
Joined Oct 2011
toygixxer69Feb 4, 2023 1:56 AM
956 Comments
Forgive me not able to go thru 570+ pages.
So i still can get the $7500 tax credit as long as my Y Performance don't go over $80k? My initial thought was we couldn't go over $55k.
Feb 4, 2023 1:59 AM
47 Comments
Joined Sep 2013
tueesFeb 4, 2023 1:59 AM
47 Comments
Quote from toygixxer69 :
Forgive me not able to go thru 570+ pages.
So i still can get the $7500 tax credit as long as my Y Performance don't go over $80k? My initial thought was we couldn't go over $55k.
IRS changed the criteria for MY today and upper limit for MY is $80K now.
Feb 4, 2023 1:59 AM
911 Comments
Joined Jun 2005
scraejtpFeb 4, 2023 1:59 AM
911 Comments
Quote from toygixxer69 :
Forgive me not able to go thru 570+ pages.
So i still can get the $7500 tax credit as long as my Y Performance don't go over $80k? My initial thought was we couldn't go over $55k.
Rules changed today, retroactive to Jan 1st. Yes, any model Y is now counted as an SUV with the $80k limit to qualify for the $7500 credit.
Feb 4, 2023 2:02 AM
1K Comments
Joined Mar 2019
CycloneFWFeb 4, 2023 2:02 AM
1K Comments
Quote from ScarletTank159 :
I don't see any mention of using 2022 MAGI on the IRS site. If you don't mind, can you share where you gathered that?
Under "Who Qualifies", second to last paragraph from https://www.irs.gov/credits-deduc...3-or-after

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.
Feb 4, 2023 2:05 AM
956 Comments
Joined Oct 2011
toygixxer69Feb 4, 2023 2:05 AM
956 Comments
Quote from tuees :
IRS changed the criteria for MY today and upper limit for MY is $80K now.
Thank you.
Feb 4, 2023 2:05 AM
1.2K Comments
Joined Dec 2004
SleepingDragonFeb 4, 2023 2:05 AM
1.2K Comments
Quote from mrdizle :
Tesla model Y is ugly... Buy the solo car instead
https://www.emvauto.com/
That thing looks like you're driving a large toilet around town...
Feb 4, 2023 2:06 AM
956 Comments
Joined Oct 2011
toygixxer69Feb 4, 2023 2:06 AM
956 Comments
Quote from scraejtp :
Rules changed today, retroactive to Jan 1st. Yes, any model Y is now counted as an SUV with the $80k limit to qualify for the $7500 credit.
Nice. Reminds me of playing ball in elementary school making up rules as we played...lol

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Feb 4, 2023 2:09 AM
102 Comments
Joined Jul 2007
mixxenFeb 4, 2023 2:09 AM
102 Comments
Quote from MurraytheDemonSkull :
You will not get a bigger motor, MYP and MYLR has the same motor, the additional horsepower and top speed are through a software upgrade.

You will not get different brakes, it is the same as MYLR but it has fancy looking brake covers.
https://electrek.co/2023/01/16/te...r-hide-it/

You will get 21" wheels but the ride will be less comfortable compared to MYLR 19" Gemini wheels.

You will get spoiler and matrix headlights.
Interesting! Looks like Tesla downgraded the rear brakes in Aug 2022. The front brakes still have the bigger Brembo brakes, but as you said, same as the MYLR. I guess the MYP gets "performance-looking" red covers. lol.

Not sure about the same motor, as I can't find any references, but it would make sense to standardize production to a single motor type to cut manufacturing costs.

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