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frontpagekrispytreat007 posted Jun 02, 2023 09:30 PM
frontpagekrispytreat007 posted Jun 02, 2023 09:30 PM

2023 Tesla Model 3 w/ 3 Months Supercharging + $7500 Federal Tax Credit

(For Qualifying Buyers)

from $37830

$40,240

1,793 Comments 926,763 Views
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Tesla is offering its 2023 Tesla Model 3 starting from $37830. This model now qualifies for the $7500 Federal Tax Credit (more information here and here).

Thanks to community member krispytreat007 for sharing this deal.

Note, price and availability will vary by location and may be limited. Additional fees may apply.

Additionally, this includes 3 months free unlimited Supercharging if ordered and delivered between June 14 and June 30, 2023.

Editor's Notes

Written by qwikwit | Staff
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300000 for married couples filing jointly
    • $225000 for heads of households
    • $150000 for all other filers
  • The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
  • See the forum thread for deal discussion.
  • Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.

Original Post

Written by krispytreat007
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Tesla is offering its 2023 Tesla Model 3 starting from $37830. This model now qualifies for the $7500 Federal Tax Credit (more information here and here).

Thanks to community member krispytreat007 for sharing this deal.

Note, price and availability will vary by location and may be limited. Additional fees may apply.

Additionally, this includes 3 months free unlimited Supercharging if ordered and delivered between June 14 and June 30, 2023.

Editor's Notes

Written by qwikwit | Staff
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300000 for married couples filing jointly
    • $225000 for heads of households
    • $150000 for all other filers
  • The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
  • See the forum thread for deal discussion.
  • Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.

Original Post

Written by krispytreat007

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Top Comments

Eagles89
5963 Posts
786 Reputation
You forgot to mention the $1390 destination fee, $425 for wall connector, $230 for mobile charger, $250 non-refundable order fee.
scn312
168 Posts
65 Reputation
Tesla Model 3 RWD starts at $40,240 but is now eligible for the full $7,500 federal tax credit (income limits apply). Previously, it was only eligible for $3,750. This makes the starting price $32,740 after tax credit.

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
Knightshade
15333 Posts
4338 Reputation
NO IT DOES NOT.

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.com/articl...tax-credit

1,792 Comments

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Jun 05, 2023 07:17 PM
98 Posts
Joined Apr 2006
peeyurrJun 05, 2023 07:17 PM
98 Posts
quick question - for the inventory check - once you put the downpayment ($675), how fast do you get the car? Could I wait until July 1st or do you need to pick it up immediately? Thanks!
Jun 05, 2023 07:32 PM
447 Posts
Joined Mar 2012
DC13Jun 05, 2023 07:32 PM
447 Posts
Tesla is the king of fraud. They would falsely advertise a tax credit that isn't available, the same way they advertise a software that promises to be a robotaxi and make you money. Rules don't apply to the criminal company. Be careful if you're relying on getting the $3750. If you dont actually qualify I doubt you'll have any repercussions. lol, you gonna sue Tesla? Elon invests more into lawyers than he does into the cars.
1
1
Jun 05, 2023 08:08 PM
28 Posts
Joined Oct 2022
EagerJuice780Jun 05, 2023 08:08 PM
28 Posts
Tesla is saying the car is eligible for $7.500
IRS is saying the car is eligible for $3.750

IRS is also saying this for section 4a for Form 8936 you will need to fill out to get the credit:

" Tentative credit amounts for new clean vehicles are provided to the purchaser by the seller at the time the vehicle is sold, and later forwarded to the IRS. "

Testa operator on the phone today: " we do not provide such thing and we can not quarantee anything"

looks pretty muddy to me

I have placed order and have schedulled picup this Friday but thinking cancelling and loosing 250$ rather than 3750 or more.

Shady business is the car sale segment. You will be screwed no mather how the business is conducted ( via app or via bric and mortar )
Last edited by EagerJuice780 June 5, 2023 at 01:13 PM.
Jun 05, 2023 08:14 PM
1,259 Posts
Joined Jun 2010
0oyujieo0Jun 05, 2023 08:14 PM
1,259 Posts
How much is the car insurance thru Tesla?
Jun 05, 2023 08:20 PM
1,131 Posts
Joined Nov 2004
aifanJun 05, 2023 08:20 PM
1,131 Posts
Quote from EagerJuice780 :
Tesla is saying the car is eligible for $7.500
IRS is saying the car is eligible for $3.750

IRS is also saying this for section 4a for Form 8936 you will need to fill out to get the credit:

" Tentative credit amounts for new clean vehicles are provided to the purchaser by the seller at the time the vehicle is sold, and later forwarded to the IRS. "

Testa operator on the phone today: " we do not provide such thing and we can not quarantee anything"

looks pretty muddy to me

I have placed order and have schedulled picup this Friday but thinking cancelling and loosing 250$ rather than 3750 or more.

Shady business is the car sale segment. You will be screwed no mather how the business is conducted ( via app or via bric and mortar )

Can you push the delivery date and just wait till the govt lists it as eligible? Not sure how often they update. Wonder if it could update before Friday even?
Pro
Jun 05, 2023 08:49 PM
1,825 Posts
Joined Feb 2004
Kachur
Pro
Jun 05, 2023 08:49 PM
1,825 Posts
Quote from aifan :
Only because you "want" to upgrade. 5k miles per year is so low and vehicles are depreciating assets. Not really an EV discussion either. More of a question of "needing" a new car vs "wanting" a new car.
Agree. Don't need it. Putting that money to work in S&P500 index, will check back few years later when teenagers ask to have my old bucket to impress friends.
Jun 05, 2023 11:07 PM
2,818 Posts
Joined Dec 2014
remaindersJun 05, 2023 11:07 PM
2,818 Posts
Quote from KungFuJoe03 :
Concerned about this as well. IRS, which forwards to FuelEconomy does indeed show the credit as only $3250. Is it outdated? I know Musk is an a-hole, but Tesla is still a business and I assume they wouldn't be promoting the tax credit if it wasn't true. I imagine that would be one massive class action if it turned out they were lying.
Anyone with any updates or info about the above post?

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Jun 05, 2023 11:08 PM
1,911 Posts
Joined Aug 2014
yujieJun 05, 2023 11:08 PM
1,911 Posts
So if i find out for this base model 3, I will not get $7500 tax credit as Tesla advertise on their site. Can i ask them to save my deposit of $250 towards future car purchase?
Jun 05, 2023 11:15 PM
1,911 Posts
Joined Aug 2014
yujieJun 05, 2023 11:15 PM
1,911 Posts
Quote from mrrame :
any speculation on when the highlander model will be out? couple of weeks or months?
who knows? maybe a couple of years out like cybertruck?
Jun 05, 2023 11:16 PM
346 Posts
Joined Jun 2010
rahulgamer101Jun 05, 2023 11:16 PM
346 Posts
I have what is probably a dumb question. For 2022, I got back about $900 for federal tax. If I get the base model 3 now, will I be getting back $7500 + any amount I would regularly get?
Jun 06, 2023 12:21 AM
309 Posts
Joined Apr 2014
SNY2KJun 06, 2023 12:21 AM
309 Posts
Quote from peeyurr :
quick question - for the inventory check - once you put the downpayment ($675), how fast do you get the car? Could I wait until July 1st or do you need to pick it up immediately? Thanks!
Are in MD? And, do you have to take delivery after 1st July for MD tax rebate?
Jun 06, 2023 12:55 AM
98 Posts
Joined Apr 2006
peeyurrJun 06, 2023 12:55 AM
98 Posts
Quote from SNY2K :
Are in MD? And, do you have to take delivery after 1st July for MD tax rebate?
Yeah. I think the titling has to be after July 1st for the rebate. I figured when I take delivery, that is when the titling will happen.
Jun 06, 2023 01:23 AM
20 Posts
Joined Nov 2013
EddieR2933Jun 06, 2023 01:23 AM
20 Posts
If I buy two models 3 cars we are married filing jointly under 300k income do we qualify for 15k in rebates ? ($7500 x 2)
Jun 06, 2023 01:58 AM
134 Posts
Joined Sep 2015
Flboy101Jun 06, 2023 01:58 AM
134 Posts
Quote from EddieR2933 :
If I buy two models 3 cars we are married filing jointly under 300k income do we qualify for 15k in rebates ? ($7500 x 2)
Do mean buy 2 get 25% off?

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Jun 06, 2023 02:41 AM
45 Posts
Joined Sep 2013
ThanxJun 06, 2023 02:41 AM
45 Posts
So I placed my order yesterday and due for pickup on June 9th but ive changed the model today since I can pickup from a nearby location. I provided my ssn while ordering the first one for tesla to report my purchase to IRS. Now that my VIN number associated has changed im wondering if tesla reports to IRS after the delivery with new VIN? Did Anyone have a similar experience? Please throw some light. Appreciate in advance.

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