Detailed Answer:
Step 1: Look at Line 11 on your 2022 Tax return (Form 1040).
Step 1a: For the vast majority of taxpayers this won't apply: Add to Step 1 any income from Puerto Rico you excluded, any housing exclusion foreign income you claimed (Lines 45 and 50 of Form 2555), and American Samoa residential income excluded (Line 15 of Form 4563).
Step 2: If that number is less than:
$300,000 Married Filing Jointly
$225,000 Head of Household
$150,000 Single and any other filing status
then continue to Step 3. Otherwise, you currently DO NOT qualify for any rebate, and will need to reduce that number on your 2023 Tax return below those limits. You can reduce that number by traditional 401k contributions, or some small-business options.
Step 3: Look at Line 24 on your 2022 Tax return (Form 1040).
- If it is greater than $7,500 and your income in 2023 stays the same or increase, you will get the full $7,500.
- If it is less than that, you get that amount (assuming your income stays the same). If your income increases then you may get a larger refund, up to $7,500.
In other words, in order to get the full tax credit, you must OWE at least $7500 in taxes and be under the income limits.
You absolutely CAN NOT carry over for a few years, or even one more year. It is a one time credit. Any unused credit is LOST!
Q7. Is the new clean vehicle credit refundable or able to be carried forward? (updated March 31, 2023)
A7. The new clean vehicle credit may only be claimed to the extent of reported tax due of the taxpayer and cannot be refunded. The new clean vehicle credit cannot be carried forward to the extent it is claimed for personal use on Form 1040, Schedule 3, Additional Credits and Payments.
from page 3 of this IRS document: https://www.irs.gov/pub/taxpros/fs-2023-08.pdf
* If you're concerned about battery degradation, you can take a look at this site [teslalogger.de] (Pull down the menu for Model Y LR)
* If you like to nerd out on graphs, data, and overal health of your vehicle, get a program called teslamate that can be installed on your home server. every time your car parks in your garage it will send driving telemetry data to it with pretty graphs [teslamate.org] and all.
* You can also opt to get teslausb [github.com], which can wirelessly send all your dashcam footage to your home server every time you pull into your garage.
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EV good if you have a dedicated charging station at home.
if you live in an apartment complex or condo its not as consumer friendly, unless you want to pay up the wazoo at supercharger stations and inconvenience yourself by having to go there every time to charge. Go to plugshare.com to see how much you will be paying in your area. Just multiply cents * 45kwh (assuming you're charging from 20% to 80%). For my area I would be paying $20-$25 per charge at a supercharger station. At home, with the national average electrity rate of 0.14 / kwh, it would cost $6
if you live in california, don't forget that you can also get another $2k in CVRP rebate. you get a check in the mail but the wait time is long to get it.
also don't forget about the single occupant HOV lane decal you can sign up at the DMV website.
basic autopilot is more than sufficient. autopilot still has a long ways to go imo. definitely not worth getting the advanced AP and definitely not full self driving at $15k. as MKBHD always says, don't buy a product on a promise of features yet to come.
also, make sure you setup your electricity usage to "time of use" or EV-specific plan as your bill will assuredly go up. Don't be on those tiered plans. Yes, you will end up saving money compared to ICE vehicles paying for gas, unless you get a hybrid, which is a bit more comparable, especially in areas where electricity is expensive.
additionally, people forget that you need to install a wall connector or mobile connector in your home. equipment costs $230 for the mobile connector +$45 for the nema 14-50 adapter, which is good enough especially if you do scheduled charging at night to save on electricity. installation itself will vary depending on your region and how much electricians will charge you, but it can get expensive. just make sure you're not getting ripped off as electricians are aware of the EV craze and asking for higher premiums on them. installation can go anywhere from $1k-$2k+. (according to poster SamirPD, you can ask the electrictian to install a dryer outlet and it should save you money and prevent you from being ripped off). One worthy note, EV charger and installation is tax deductible at 30%, just need to fill out the tax form [irs.gov] when you do your taxes next year. EDIT: SD poster hiro916 indicated that the 30% tax deduction only pertains to low income or rural tract areas, so YMMV [reddit.com].
as for car insurance, I'm paying $95 a month through Geico, but thats with a robust policy.
if you are impatient like me, and want to get one right away without having to wait, go to the waitingfortesla discord server [discord.com] and setup alerts for any time a Model Y drops in your local area. You have to act quick as they get snatched up relatively quickly. You can see whats in inventory on their website too [waitingfortesla.com]. Don't expect to see base model Y LR coming into inventory. If you want to pick something up quick settle for the 20 inch induction wheels (costs $2k extra) as they are more readily available. You can always sell the tires if you want to recoup some of the costs and get an aftermarket hubcap that look better than stock anyhow.
If you're interested in a real world range comparison of current popular EV's check out this YT video [youtube.com].
once you pick up your car you have 100 miles and 7 days to report any defects. panels gaps aren't as much of a problem anymore compared to years past, but be on the lookout for them. paint quality isn't so great out of the factory, mine came with swirl marks all over and had to get it paint corrected.
if you're concerned about battery degradation, you can take a look at this site [teslalogger.de] (select dropdown and look for Y LR AWD US to see the average degradation over time based on mileage. on average after 50k miles you should see about a 10% degradation, and it will degrade more slowly 50k+ miles onwards.
in terms of accessories, the only real requirement imo that you need are mud flaps. reason being is because without them, the rear passenger quarter panels will get hit with rock chips very quickly. tesmanian is a good aftermarket seller, or you can just opt for ones you see on amazon. if you want to go deeper into accessories temu is a great site for low prices compared to amazon.
if you like to nerd out on graphs, data, and overal health of your vehicle, get a program called teslamate that can be installed on your home server. every time your car parks in your garage it will send driving telemetry data to it with pretty graphs [teslamate.org] and all.
you can also opt to get teslausb [github.com], which can wirelessly send all your dashcam footage to your home server every time you pull into your garage.
my personal thoughts on ownership thus far. overall i like it. i am using it as a daily driver / commuter car. i don't think of Model Y and 3 as a 'luxury' vehicle. I see Tesla as a software company trying to be an automaker, and the legacy automakers are trying to be more like Tesla by being more tech focused. Teslas are continuously getting software updates to improve year over year. Interior build quality is spartan, and the ride quality need some improvement, especially if you are in an area with poor road conditions. if you're really into tech like me, this is the car for you. Performance vehicles I still prefer ICE cars over EV's however. first thing you will notice in an EV though, is the instant torque. that is what will grab you immediately.
If you have questions and need instant feedback join the Tesla discord, I'm active on there and other members can assist with questions you may have: https://discord.com/invite/tesla
2,338 Comments
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Every company needs customers willing to drop $40-80K. Anyone who thinks otherwise is an idiot.
OR 120,000 miles. So it is not an 8 year unlimited mile warranty
Even moreso for those who have one of the higher-end sets of features than the default AP that comes on the car- but that, too, gets updated.
They haven't added entirely new capability to the base feature-- but that's why it's the base feature.
So It's a bit like saying "TVs haven't been updated since they added color because they still just show pictures and sound"
And are vastly less capable than the PAID offerings they ought to be compared to- since the ones they're using for Ford, GM, etc are PAID features.
It's only nebulous stuff like "driver monitoring" where they dinged Teslas overall score, not how well the thing actually works for driving.
(and as mentioned- and you just ignored- Tesla added exactly the monitoring CR asked for-- and then CR complained about THAT- so there seems a bit of anti-tesla bias there)
Econ 101 stuff, it's better to take say 10 or 20% off your price and sell 50% more of the thing than just stagnate your business.
Lower price increases TAM (total addressable market) because there's simply more people who can afford the thing. And as you keep scaling your production you lower your own costs too.
https://www.tesla.com/VehicleSafetyRe
Tesla publishes a quarterly safety report on accident rates. In the most recent they note the average automobile in the US has a crash once every 652,000 miles. Teslas using Autopilot have one every 4.85 million miles.
In other words cars using AP are roughly 7.4x less likely to be in a crash than the average car.
Plus, of course, if you ARE in one, Teslas have the lowest likelihood of injury of any cars ever tested by NHTSA.
Given the battery warranty is 8 years, and Tesla has among the lowest warranty claim rate in the industry- your claims are clearly nonsensical.
You still posted another bunch of stuff about it, all equally wrong, but I've cut it for brevity.
Of course if you actually drill down into the breakdowns of scoring you find they mostly ding Tesla because they don't think it's "engaging the driver" enough.
The actual driving functions still score 9/10, the same or better than most of the "winners"
(and of course that's just comparing basic AP-- Tesla offers two more advanced options they didn't test they are well ahead of the other guys)
Hilariously- when CR dinged Tesla for not using an interior camera to monitor the driver, Tesla pushed a software update....
That uses the interior camera to monitor the driver.
Rather than applaud this change- that they specifically asked for- they instead wrote a hit piece questioning if your privacy was now being invaded.
Because they added the thing CR specifically wanted them to add. And which the other "leaders" in their scoring already had and they loved was there
Until Tesla did it. Then it was bad. For REASONS.
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Instead, one dude filed a lawsuit he HOPES will become a class action. Most of these (against anybody, not just Tesla) fail to go anywhere-- often they're filing in hopes the company will pay the guy off to go away, but Tesla doesn't typically do that.
You can read the actual filing here:
https://storage.courtli
They get a slew of basic facts wrong... like stating Tesla has used an 8-camera system since 2014 (which is off by years)
They also mention there being an internal camera- but then every example they gave was footage from external ones.
Further- they admit you can turn off the cameras entirely if you wanted to. Weirdly they claim this "likely voids the warranty" which...isn't how warranties work..
Further to that they claim they'd need to have "hired an authorized technician" to avoid this- when in fact they could have just left data sharing off. You have to actively opt in to send most of this data to Tesla. And they did. Now they're...mad Tesla got data they agreed to send in the first place. Not to mention for the internal camera you could literally just cover it with a bit of black tape-- same way people "block" laptop cameras.
All the above said- it looks like a few (now former) employees did pass around a few funny or scary clips they saw in the normal course of business to others in the office. That's absolutely wrong- (and see again- former employees) but if you don't think there's folks doing the same kinda misbehavior at every other company you share data with I've got a sweet bridge to sell you.
Sounds like the CR "hit" piece scored a bullseye.
So Tesla added one.
And they got mad about that. But only about Tesla having it. It's still cool everyone else does. Because...REASONS.
These price reductions are bringing prices back to where they should be, pre Covid, when everything got inflated, because of shortages, etc. So - this is where they should be. Model S/X should see more price decreases soon to bring them back down to where they were too. EV manufactures are taking advantage of the the car being an EV and getting way more money than their ICE counterparts.
Awesome Tesla is doing this, as others will have to follow. That is true competition in a free market society!
EV good if you have a dedicated charging station at home.
if you live in an apartment complex or condo its not as consumer friendly, unless you want to pay up the wazoo at supercharger stations and inconvenience yourself by having to go there every time to charge. Go to plugshare.com to see how much you will be paying in your area. Just multiply cents * 45kwh (assuming you're charging from 20% to 80%). For my area I would be paying $20-$25 per charge at a supercharger station. At home, with the national average electrity rate of 0.14 / kwh, it would cost $6
if you live in california, don't forget that you can also get another $2k in CVRP rebate. you get a check in the mail but the wait time is long to get it.
also don't forget about the single occupant HOV lane decal you can sign up at the DMV website.
basic autopilot is more than sufficient. autopilot still has a long ways to go imo. definitely not worth getting the advanced AP and definitely not full self driving at $15k. as MKBHD always says, don't buy a product on a promise of features yet to come.
also, make sure you setup your electricity usage to "time of use" or EV-specific plan as your bill will assuredly go up. Don't be on those tiered plans. Yes, you will end up saving money compared to ICE vehicles paying for gas, unless you get a hybrid, which is a bit more comparable, especially in areas where electricity is expensive.
additionally, people forget that you need to install a wall connector or mobile connector in your home. equipment costs $230 for the mobile connector +$45 for the nema 14-50 adapter, which is good enough especially if you do scheduled charging at night to save on electricity. installation itself will vary depending on your region and how much electricians will charge you, but it can get expensive. just make sure you're not getting ripped off as electricians are aware of the EV craze and asking for higher premiums on them. installation can go anywhere from $1k-$2k+. (according to poster SamirPD, you can ask the electrictian to install a dryer outlet and it should save you money and prevent you from being ripped off). One worthy note, EV charger and installation is tax deductible at 30%, just need to fill out the tax form [irs.gov] when you do your taxes next year. EDIT: SD poster hiro916 indicated that the 30% tax deduction only pertains to low income or rural tract areas, so YMMV [reddit.com].
as for car insurance, I'm paying $95 a month through Geico, but thats with a robust policy.
if you are impatient like me, and want to get one right away without having to wait, go to the waitingfortesla discord server [discord.com] and setup alerts for any time a Model Y drops in your local area. You have to act quick as they get snatched up relatively quickly. You can see whats in inventory on their website too [waitingfortesla.com]. Don't expect to see base model Y LR coming into inventory. If you want to pick something up quick settle for the 20 inch induction wheels (costs $2k extra) as they are more readily available. You can always sell the tires if you want to recoup some of the costs and get an aftermarket hubcap that look better than stock anyhow.
If you're interested in a real world range comparison of current popular EV's check out this YT video [youtube.com].
once you pick up your car you have 100 miles and 7 days to report any defects. panels gaps aren't as much of a problem anymore compared to years past, but be on the lookout for them. paint quality isn't so great out of the factory, mine came with swirl marks all over and had to get it paint corrected.
if you're concerned about battery degradation, you can take a look at this site [teslalogger.de] (select dropdown and look for Y LR AWD US to see the average degradation over time based on mileage. on average after 50k miles you should see about a 10% degradation, and it will degrade more slowly 50k+ miles onwards.
in terms of accessories, the only real requirement imo that you need are mud flaps. reason being is because without them, the rear passenger quarter panels will get hit with rock chips very quickly. tesmanian is a good aftermarket seller, or you can just opt for ones you see on amazon. if you want to go deeper into accessories temu is a great site for low prices compared to amazon.
if you like to nerd out on graphs, data, and overal health of your vehicle, get a program called teslamate that can be installed on your home server. every time your car parks in your garage it will send driving telemetry data to it with pretty graphs [teslamate.org] and all.
you can also opt to get teslausb [github.com], which can wirelessly send all your dashcam footage to your home server every time you pull into your garage.
my personal thoughts on ownership thus far. overall i like it. i am using it as a daily driver / commuter car. i don't think of Model Y and 3 as a 'luxury' vehicle. I see Tesla as a software company trying to be an automaker, and the legacy automakers are trying to be more like Tesla by being more tech focused. Teslas are continuously getting software updates to improve year over year. Interior build quality is spartan, and the ride quality need some improvement, especially if you are in an area with poor road conditions. if you're really into tech like me, this is the car for you. Performance vehicles I still prefer ICE cars over EV's however. first thing you will notice in an EV though, is the instant torque. that is what will grab you immediately.
If you have questions and need instant feedback join the Tesla discord, I'm active on there and other members can assist with questions you may have: https://discord.com/invite/tesla
Thank you, not buying yet but tons of good information!
The Y is currently the single best selling car in the world (up from 4th place in 2022)
The SUPPLY is increasing is why the price is decreasing as Tesla continues to ramp output at the 2 factories it officially began production in last year.
EUV charges slower than any other BEV. Works for me because I charge once per week in my garage which has a Tesla Wall Connector paid for by GM and Duke Energy.
EUV handles and brakes worse than either Tesla and most ICE cars. It understeers more than any car I recall driving. Torque steer is also bad, until the garbage tires break loose. The tires are dangerously bad in rain, so replaced them in the first month. I can't believe GM sells them that way.
EUV panel fit is generally better. The 3 I rented this week for a work trip had the door hung so low it was striking the sill and taking paint off.
EUV heated and cooled seats are nice, but I find the front seats of both Tesla's more comfortable. EUV rear seats are better than either Tesla.
Tesla acceleration is very quick, faster than most sports cards EUV is comparable to a typical modern hatchback or sedan.
People who know Tesla will wait the 4-6 months for the 'new' models. Which will be first the M3 then a few months later the Y. At higher prices. I would wait.
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