-----
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
Federal EV 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.
--------------
Here's how cheap you can get a new Model 3 RWD right now (including fed & local EV incentives):
• VT: $26,320
• MA: $26,830
• PA: $27,330
• MD: $27,330 - Delivered after July 1, 2023 https://marylandev.org/maryland-ev-tax-credit
• RI: $27,820
• DE: $27,820
• NY: $28,320
• CA: $28,330
• CO: $28,330
• CT: $29,030
• ME: $29,320
on top of above info federal, state and local incentive info that i posted , some employers are also providing ev incentive like exaple bank of america employees gets $5k incentive , in this case the best case scenario is like below
example scenario
• VT: $26,320 - $5000 bank of america employee ev incentive = $21,320
-------------
CA CLEAN VEHICLE REBATE PROGRAM
$2K is available if your household makes <$200k.
There is an increased rebate of $7500 ($5500 on top of the $2k) available if you fall below income caps based on your household size.
Family of 4 max is $111k, Family of 6 is $149k.
This comes in the form of a check in 2-3 months. https://cleanvehiclereb
This is separate from the CARB Clean Vehicle Grants described below the dashes. It is possible to qualify for both, but the timing is different.
----------------
And California residents that live in a disadvantage community (DAC) https://cleanvehiclegra
Disadvantaged communities are determined using CalEnviroScreen (https://oehha.ca.gov/calenviroscr...
here's the DAC map: https://oehha.ca.gov/calenviroscreen/sb535
And receive an Approval Letter through email.
You must receive an Approval Letter BEFORE you purchase a vehicle. We do not offer rebates and you cannot redeem a grant if you have purchased a vehicle before being approved.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
Leave a Comment
Top Comments
https://www.tesla.com/model3/design
Deal is even sweeter if you live in a state with additional credits:
VT: $26,320
MA: $26,830
PA: $27,330
RI: $27,820
DE: $27,820
NY: $28,320
CA: $28,330
CO: $28,330
CT: $29,030
ME: $29,320
Full tax credit details below, but the following income limits apply:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
https://www.irs.gov/credits-deduc...3-or-after
Withholding is totally irrelevant to qualifying for the credit.
If you're unclear on this go read a 1040.
The part where you compute tax liability is lines 16 through 24.
THAT is where the $7500 EV credit comes off.
Your withholdings aren't even looked at until after that on line 25+
This is also not correct.
The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,600 is refundable for the 2023 tax year.
Refundable credits are computed AFTER non-refundable ones-- so the CTC is only "worth" $400 off your tax burden for these purposes- the $1600 left is refundable.
Thus if you had say $7900 in tax burden and one CTC and one EV credit, your tax burden would go to $0 and you'd get a full refund of the $1600 refundable part of the CTC
Source:
https://www.nerdwallet.
1,792 Comments
Sign up for a Slickdeals account to remove this ad.
Mach-E is slower by .5sec, 20ish less miles capacity.
M3 has glass top, auto folding mirrors, all heated seats/wheel, complete super charger network (ford moving to tesla connector in 2025).
I'm sure there is more but the base tesla options are at least 2-3 trims up the other automakers
Sign up for a Slickdeals account to remove this ad.
Every single one of them is available. Today. To all North American customers who opt into the FSD beta program.
For those who don't opt in, all of them except one- city streets - is available today (and has been for a couple years now).
Where people get confused is two places:
1) Aspirational statements about future capabilities-- none of which are actually included, listed, or described during the purchase of the option. These are simply things Elon Musk has said he hopes to add in the future, but nobody is "owed" them as part of the purchase.
and
2) The name. But just as Happy Meals don't cure depression, and Diaper Genies don't grant wishes, reading the actual product description solves this confusion instead of just making assumptions from the name.
Full self driving is plain language and deceptive.
The mobile charger is optional, but highly recommended.
A charging station is also optional.
Every car has a destination fee. And taxes, title fees, registration fees, etc.
The cost of these accessories is comparable to what you'd pay with an ICE vehicle for fuel, repairs, regular maintenance, consumable parts, labor, etc.
Food for thought.
Sign up for a Slickdeals account to remove this ad.
Our community has rated this post as helpful. If you agree, why not thank discostu
Here is my profile:
2013 with 19k miles and averages about 22 mpg. Just replaced engine air filter, spark plugs, anti-freeze for about $80 to take care of the 10 yrs maintenance. Tires are changed as well due to age, but that will be the same for EV, so are brake fluid change every 3 years ($25) and every year for cabin air filter ($8). Each year, oil change is about $30.
My fears are the super expensive tire prices for the EV, phantom drain over time which may cost 1/2 of my current gas money and of course, the long term durability of the batteries before recouping the initial cost premium (~$3000)...
Phantom drain is practically nonexistent. I just came back from a 10 day trip with the M3 parked in an outdoor airport parking lot with exposure to sun and cold and everything and the drain was maybe 3%. 3% of 82kWH at 9c/kWH is less than a nickel. This is not a cellphone battery, do not be concerned about phantom drain.
Your gas savings heavily depend on your utility rates and your driving pattern. I've had the M3 since August 2018 and have put about 75k miles on it. I used to pay only 7c/kwh but now it's 9c/kwh. Even calculated at today's rates, I spent a little under $1600 over the last 5 years to drive(0.23kwh/mile x 75k miles x .09usd/kwh) about 75k miles. At $4/gallon for Norcal prices with 75k miles at 30mpg it would have been about $10k for the same miles.
Insurance is a bit expensive. I'm with GEICO and have a clean driving record, it's about $1000 per year. I'm also an old fart with a really clean driving record and I'm not happy that I'm still paying this much. I have a 2019 CRV that's half that rate.
Leave a Comment