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.
Top Comments
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
Join The Conversation
Share your experience with the Slickdeals community
Share information with the community. Please follow our Community Guidelines and be kind!
2.3K Comments
Sign up for a Slickdeals account to remove this ad.
Here's you just shy of 4 months ago saying you "wanted" to buy at 52.9k but were now waiting because it went up to 54.9k
Here's you just over 1 month ago claiming you were cancelling your order because insurance was high
Then 1 month ago (post is quite long so no full quote) claiming you were waiting for more price drops (but claiming you still had an order on the books)... then again same post you claim that you had a 2017 Model 3 order you never asked to refunded and were still waiting for a 35k one- while falsely claiming they never offered one.
Multiple people corrected you and pointed out the 35k model was sold for about 18 months starting early 2019- and also pointing out your claiming you still had the 1k deposit on their booked from 2017 made 0 sense either since the reservation system stopped being used years ago for Model 3.
Your defense was to insist the 35k car was only available after all tax credits were gone (which is false), that only 1500 model 3 owners every qualified for any tax credit (also false, tax credits were available from late 2017 through end of 2019 for Model 3 buyers though they were smaller in 2019- and hundreds and hundreds and hundreds of thousands of buyers got them) and that most were leased, not sold (this is also false, very very few were leased)
Here's a shorter post from you claiming you wouldn't pay 52k for this car (after claiming you would earlier) and would rather spend 50k on...an audi for some reason.... bonus you falsely claim the car doesn't have emergency braking, which it does and has for years and years-
Anyway, just 3 weeks ago you came up with ANOTHER excuse (in another long post) for why you didn't want one... the USS removal meant a couple of features would not be available until a software update was pushed out OTA... except you were corrected by having it pointed out most of those features were only "missing" on cars who had bought optional features you claimed you never bought in the first place, and the one that DID impact you (park assist) already had the SW updated weeks ago to add it back- so this would have no effect on you
And now, finally, today we have you claiming you're cancelling your order (again) expecting price drops by.... next year... (and including some weird math where somehow 1 year of 7% interest becomes 40% interest).
So, assuming you ever actually ordered anything at all, you've now given $1250 to Tesla (the $1000 Model 3 reservation fee you claim you never did anything with and they still have) and the $250 order fee for this Y you cancelled (or maybe $500 if you cancelled BOTH times you claimed you did) and gotten... nothing back for your money.
Not very slick.
Sign up for a Slickdeals account to remove this ad.
Here's you just shy of 4 months ago saying you "wanted" to buy at 52.9k but were now waiting because it went up to 54.9k
Here's you 3 months ago claiming now you DID order one anyway at 54.9k, but with the base white color and you don't really want it because you think they're gonna cut the rebate on the Y 50% (they didn't) and that they'd slash $3750 as a result (they didn't)- and claiming sales had declined (they didn't)
Here's you 2 months ago claiming you changed to blue exterior and white seats, but same price, because they reverted the 2k price bump
Here's you just over 1 month ago claiming you were cancelling your order because insurance was high
Then 1 month ago (post is quite long so no full quote) claiming you were waiting for more price drops (but claiming you still had an order on the books)... then again same post you claim that you had a 2017 Model 3 order you never asked to refunded and were still waiting for a 35k one- while falsely claiming they never offered one.
Multiple people corrected you and pointed out the 35k model was sold for about 18 months starting early 2019- and also pointing out your claiming you still had the 1k deposit on their booked from 2017 made 0 sense either since the reservation system stopped being used years ago for Model 3.
Your defense was to insist the 35k car was only available after all tax credits were gone (which is false), that only 1500 model 3 owners every qualified for any tax credit (also false, tax credits were available from late 2017 through end of 2019 for Model 3 buyers though they were smaller in 2019- and hundreds and hundreds and hundreds of thousands of buyers got them) and that most were leased, not sold (this is also false, very very few were leased)
Here's a shorter post from you claiming you wouldn't pay 52k for this car (after claiming you would earlier) and would rather spend 50k on...an audi for some reason.... bonus you falsely claim the car doesn't have emergency braking, which it does and has for years and years-
Bonus post from this time- you claiming prices would drop because US would default on their debt and cause a recession (also wrong)
Anyway, just 3 weeks ago you came up with ANOTHER excuse (in another long post) for why you didn't want one... the USS removal meant a couple of features would not be available until a software update was pushed out OTA... except you were corrected by having it pointed out most of those features were only "missing" on cars who had bought optional features you claimed you never bought in the first place, and the one that DID impact you (park assist) already had the SW updated weeks ago to add it back- so this would have no effect on you
And now, finally, today we have you claiming you're cancelling your order (again) expecting price drops by.... next year... (and including some weird math where somehow 1 year of 7% interest becomes 40% interest).
So, assuming you ever actually ordered anything at all, you've now given $1250 to Tesla (the $1000 Model 3 reservation fee you claim you never did anything with and they still have) and the $250 order fee for this Y you cancelled (or maybe $500 if you cancelled BOTH times you claimed you did) and gotten... nothing back for your money.
Not very slick.
Dude. You take forum stalking to a whole other level.
Why in the world would you spend the time and effort to write a biography about a random internet stranger?
And it's funny how the mods allow it. I mean this post has nothing to do with the deal at all, it is you stalking people, but they delete posts that say anything negative about a Tesla.
That's pretty weird.
Why in the world would you spend the time and effort to write a biography about a random internet stranger?
And it's funny how the mods allow it. I mean this post has nothing to do with the deal at all, it is you stalking people, but they delete posts that say anything negative about a Tesla.
That's pretty weird.
Nothing weird at all- Seeing the posts a given user made in a thread is like 2 clicks, takes about 5 seconds.
It's directly relevant to a deal to point out when someone elses posts continually are providing a narrative about that deal that does not align with the actual facts---a concept you yourself should be well familiar with given how often people make the same observations about your own posts
Especially when you find it doesn't even align with the past claims made by the same poster (the stuff about the Model 3 order from years ago for example... or how they've now claimed to have cancelled the same order twice, weeks apart)-- which speaks to how much credibility a reader should (or in this case should not) give to such a posters claims about other things related to the topic.
It's directly relevant to a deal to point out when someone elses posts continually are providing a narrative about that deal that does not align with the actual facts---a concept you yourself should be well familiar with given how often people make the same observations about your own posts
Especially when you find it doesn't even align with the past claims made by the same poster (the stuff about the Model 3 order from years ago for example... or how they've now claimed to have cancelled the same order twice, weeks apart)-- which speaks to how much credibility a reader should (or in this case should not) give to such a posters claims about other things related to the topic.
You claim that diatribe you wrote took 5 seconds, and then you talk about credibility.
Seeing posts, and copy and pasting months worth of posts are 2 different things and it takes more than 5 seconds, so your credibility is poop.
So are you saying you are the self-appointed Tesla thread police? monitoring all of the threads
It's weird you wouldn't leave that to the professionals, the moderators.
You can see which vehicle in the inventory is shipped with what configuration at https://ev-cpo.com/
Most of the comments I made on those posts that took 5 seconds to find didn't take much longer either since they're just pointing out what was previously written about each inaccurate claim they made though.
Still- my reply to him was directly addressing facts around the topic of the thread.
You're about to reply to this with your third post in a row containing zero on topic content. You can't help yourself.
Sign up for a Slickdeals account to remove this ad.
Join The Conversation
Share your experience with the Slickdeals community
Share information with the community. Please follow our Community Guidelines and be kind!