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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.
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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
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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.
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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.
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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.
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1.8K Comments
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How often do you drive more than 272 miles in a day?
How about more than 400, since one 10-15 minute stop at a supercharger will get you that far- and unless you drive with a pee bottle you'd stop that much anyway over 400 miles of driving.
Considering you can charge at home at 44 miles per hour at night, any commute is never a problem. On longer trips there are plenty of superchargers.
MEANWHILE BACK IN REALITY those 10 year old cars are still on original batteries and still retaining on average 88% of original capacity after 200,000 miles.
https://www.greencarrep
And those are the oldest-tech batteries Tesla used... newer ones are even better.
So, just maybe, your ignorance of the difference between a cell phone battery and an EV battery, not just in terms of chemistry, but in terms of cooling and BMS, is showing
Your iPhone battery barely lasts 5 years without significant degradation. Why would anybody want that kind of financial timebomb in a car is beyond me !
The battery warranty is not 8 years with unlimited miles, it is 8 years OR 100K miles, WHICHEVER COMES FIRST
So it is completely possible with a little above average miles per year to exceed the warranty in 5 years and be on the hook for the battery.
Just be honest if Tesa is all you say it is, unless it's not
Routine maintenance for the Model 3 is:
Every 2 years:
Replace cabin filter (30-75 bucks depending if you do it yourself or pay tesla)
Test brake fluid, replace as needed (similar to any car)
Every 6 years:
Replace AC desiccant
That's it for scheduled service, unless you live where there's snow/salt on the roads a lot- in which case like all cars you should clean/lube the brake calipers annually.
Beyond that just normal car wear part stuff like new tires or wipers or 12v battery when needed, refill wiper fluid....Technically you replace brakes as needed but with regen braking you'll do it FAR less often than a normal gas car... there's plenty of Tesla owners with >100,000 miles on the original brakes because you use them so rarely.
No oil changes, no spark plug changes, no coolant changes, no transmission to service, no differential service, no belts or timing chains to replace
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The battery warranty is not 8 years with unlimited miles
When the only time you have something to say it's always a strawman requiring you to lie about what you are "correcting" you might consider not saying anything at all.
Just a thought.
The main thing is that Teslas warranty claims rate is the lowest in the industry. Certainly the fact they're all EV helps with that, but the point was that the concerns about "quality" are vastly overblown, as they have significantly fewer warranty issues than virtually any other brand of car (and even marginally fewer than the 'best' legacy brand- Toyota) of any company that sells in the west.
so i checked with the AI bot at you.com, wow problems i guess. some of their cars came in second to last, but better than being last...
https://www.cnbc.com/2021/11/18/c...fared.html
Once again you make up false claims unsupported by facts
In fact the second link in your post specifically cites things being replaced by Tesla under warranty
It also points out Tesla has the highest owner satisfaction of any brand of car.... which would be a weird thing to find in a company where the batteries all died quickly and they never fixed anything.
So once again your perception, and reality, have nothing in common.
The IRA tax credits do not expire until either until the later of 2032, or until US electricity sector carbon dioxide emissions are equal to or below 25% of 2022 levels
In fact the second link in your post specifically cites things being replaced by Tesla under warranty
It also points out Tesla has the highest owner satisfaction of any brand of car.... which would be a weird thing to find in a company where the batteries all died quickly and they never fixed anything.
All that said, my insurance just told me an absolutely insane price to insure a new model 3, so I have to talk directly to Tesla to insure it, which could sink me actually buying one.
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Seemed to be better put together than the 2018 I had, and possibly better ride quality and slightly quieter, but too short a drive to really tell. I mainly wanted to see how many miles I can get out of the claimed 272, but again can't do it on such a short drive. After reading reports of much higher premiums on Tesla's now, I checked with mine. More than doubled the car I would replace it with. I will pass.
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