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expiredxTorquEx posted Apr 05, 2024 05:46 PM
expiredxTorquEx posted Apr 05, 2024 05:46 PM

2024 Tesla Model Y + $7,500 Federal Tax Credit

(For Qualified Buyers)

$40,490

$44,990

10% off
1,480 Comments 1,006,595 Views
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Deal Details
Tesla has dropped the base price of the Tesla Model Y from $44,990 down to $40,490. All Model Y vehicles also qualify for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member xTorquEx for finding this deal.

Available models:
  • Tesla Model Y (Standard Range) from $40,490
  • Tesla Model Y (Long Range) from $44,990
  • Tesla Model Y (Performance Dual Motor All-Wheel Drive) from $48,140

Editor's Notes

Written by megakimcheelove | Staff
  • 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
  • The 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.
  • 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 xTorquEx
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Tesla has dropped the base price of the Tesla Model Y from $44,990 down to $40,490. All Model Y vehicles also qualify for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member xTorquEx for finding this deal.

Available models:
  • Tesla Model Y (Standard Range) from $40,490
  • Tesla Model Y (Long Range) from $44,990
  • Tesla Model Y (Performance Dual Motor All-Wheel Drive) from $48,140

Editor's Notes

Written by megakimcheelove | Staff
  • 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
  • The 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.
  • 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 xTorquEx

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Top Comments

Autumn
49505 Posts
5094 Reputation
Ok look...

There's a pattern with Tesla threads here. I don't care if you all wanna discuss the deal or the cars but it always turns into paaaages and paaaages of bickering back and forth and nobody ,except for the few involved, enjoy that or wanna wade through that. So cut that stuff out, please and thank you.
AhmadH1772
8 Posts
10 Reputation
This is not as good as the March deal. They are all $1000 more expensive. The other discounts were available most of q1.
BrettL5675
494 Posts
57 Reputation
FYI just because it says "New" doesn't mean it qualifies for the 7500 tax credit. Demo models are new but do not qualify for 7500. If the specific inventory item qualifies it will directly say it on the site.

1,479 Comments

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Apr 06, 2024 01:25 PM
201 Posts
Joined Feb 2023
EagerSoda365Apr 06, 2024 01:25 PM
201 Posts
Quote from AhmadH1772 :
This is not as good as the March deal. They are all $1000 more expensive. The other discounts were available most of q1.
My uncle who was tracking since March 24th said the price is same as march, just missing the 5k free supercharger miles.

He is looking at model Y.
Apr 06, 2024 01:25 PM
43 Posts
Joined Jan 2022
SociableSeed594Apr 06, 2024 01:25 PM
43 Posts
Every time I see these deals on Model Ys I always come back to I'd rather just have a Highlander Hybrid. I guess FSD could change that but that's another 12k.
Last edited by SociableSeed594 April 6, 2024 at 07:28 AM.
Apr 06, 2024 01:27 PM
56 Posts
Joined Apr 2019
SeanT30Apr 06, 2024 01:27 PM
56 Posts
Why is everyone stating you need a $7,500 tax liability? Didn't Edmund's and other publications come out and state the IRS changed this to point of sale for this exact reason? They agreed to enforce the income limit but if your liability was not met they were not enforcing it.

That was the whole point of the change and offering the credit to lower income individuals to drive adoption and sales.

Is this not correct?
Apr 06, 2024 01:29 PM
43 Posts
Joined Jan 2022
SociableSeed594Apr 06, 2024 01:29 PM
43 Posts
Quote from SeanT30 :
Why is everyone stating you need a $7,500 tax liability? Didn't Edmund's and other publications come out and state the IRS changed this to point of sale for this exact reason? They agreed to enforce the income limit but if your liability was not met they were not enforcing it.

That was the whole point of the change and offering the credit to lower income individuals to drive adoption and sales.

Is this not correct?
https://www.irs.gov/credits-deduc...3-or-after

Tax credit is Non Refundable and you can't roll it forward so you need 7500 in tax liability the year you buy it.
Last edited by SociableSeed594 April 6, 2024 at 07:31 AM.
2
Apr 06, 2024 01:29 PM
208 Posts
Joined May 2016
DealhunterforuApr 06, 2024 01:29 PM
208 Posts
If there was a LR RWD option, that would still have has 330 miles range?
Apr 06, 2024 01:30 PM
35 Posts
Joined Apr 2019
CrimeMastersApr 06, 2024 01:30 PM
35 Posts
Pro Tip- use a referral of someone who already has a Tesla to get additional benefits for the first few months of purchase. The person making the referral will also get perks. It's a win-win
Apr 06, 2024 01:31 PM
208 Posts
Joined May 2016
DealhunterforuApr 06, 2024 01:31 PM
208 Posts
Quote from RumbleTheBison :
Wild how something that may have 2500 miles on it is filtered as "new"
Open box - Like New.

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Apr 06, 2024 01:32 PM
77 Posts
Joined Apr 2013
TeaSwizApr 06, 2024 01:32 PM
77 Posts
Quote from RumbleTheBison :
Wild how something that may have 2500 miles on it is filtered as "new"
This goes for demo vehicles across dealers too. Demos are sold as new with warranty prorated. Worst part is they can be wrecked, fixed by the dealer, and never show on any records. Pretty messed up stuff in the dealer world.
1
Apr 06, 2024 01:36 PM
369 Posts
Joined Mar 2015

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Apr 06, 2024 01:37 PM
56 Posts
Joined Apr 2019
SeanT30Apr 06, 2024 01:37 PM
56 Posts
Quote from SociableSeed594 :
https://www.irs.gov/credits-deduc...3-or-after

Tax credit is Non Refundable and you can't roll it forward so you need 7500 in tax liability the year you buy it.
Im gonna have to go back and find those publications and their reports. I know Edmund's reported that on their YouTube channel.

Obviously, I wouldn't do it unless there is additional guidance confirmed that's how it's working, but I can't believe they'd come out and say those things without it coming from somewhere official …. 😒 pretty dirty on their ends to report on that.
Apr 06, 2024 01:40 PM
157 Posts
Joined Mar 2021
CyanLeopard7900Apr 06, 2024 01:40 PM
157 Posts
Quote from SonofZeus :
"New" means: never titled/full factory warranty.
It's always been this way in car world.
PSA: if you want this brand, lease it with no money down.
This is a real public service announcement - leasing a car is generally the worst financial decision a person can make. It promises two things: you will cover the new car depreciation and you will always be making car payments (that include interest).
Apr 06, 2024 01:47 PM
218 Posts
Joined May 2010
reachvenkyApr 06, 2024 01:47 PM
218 Posts
Tesla owners , how much is the actual range?

330 miles advertised and being asked to charge for 80% gives 264. Cold weather impact another 20%? Gives 211 miles. Technically what is the range in summer and winter for someone in north east?
Apr 06, 2024 01:51 PM
45 Posts
Joined Jan 2015
sjlin86Apr 06, 2024 01:51 PM
45 Posts
Quote from SeanT30 :
Why is everyone stating you need a $7,500 tax liability? Didn't Edmund's and other publications come out and state the IRS changed this to point of sale for this exact reason? They agreed to enforce the income limit but if your liability was not met they were not enforcing it.

That was the whole point of the change and offering the credit to lower income individuals to drive adoption and sales.

Is this not correct?
New owner of a Tesla Model Y Long Range here (had it for about 2 weeks). you do get the $7500 federal credit at the point of sale. I'm in New York, so I also got the $500 state tax credit at the time of sale. Total was 8,000 tax credit at time of sale. In regards to inventory, you need to keep checking regularly if you do want one. I was about to pick one up in 3 days. Discount due to finding it in inventory was 4050.

In regards to the people that make too much and don't qualify, you can still qualify if you lease. The dealer will prorate the tax incentive into your lease term.

I still own my gas car, yes, filling up your tank is way faster. But assuming you have charging set up at home, filling your gas car up feels more of an inconvenience in comparison. If you do not or cannot have a home charger, they do have a bunch of superchargers around at least in my area, but... charging can take 20 to 30+ minutes, and if it's congested, I've seen some people having to wait for an open spot to charge.

My recommendation is to test drive multiple times to see if this car is for you. I think most dealerships allow overnight demo drive, so ask and see if that's available. Test drove 3x before deciding it was the car for me. For those that don't want a Tesla, that's cool, just move onto another deal.
Apr 06, 2024 02:03 PM
138 Posts
Joined Sep 2007
matrixguyApr 06, 2024 02:03 PM
138 Posts
Quote from beggerking :
need FSD transfer...
Especially because car insurance does not consider FSD/Enhanced Autopilot as an asset (i.e., insurance will not cover/depreciate software cost in case of a total loss).

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Apr 06, 2024 02:07 PM
1,835 Posts
Joined Jun 2009
dbernie41Apr 06, 2024 02:07 PM
1,835 Posts
Quote from sjlin86 :
New owner of a Tesla Model Y Long Range here (had it for about 2 weeks). you do get the $7500 federal credit at the point of sale. I'm in New York, so I also got the $500 state tax credit at the time of sale. Total was 8,000 tax credit at time of sale. In regards to inventory, you need to keep checking regularly if you do want one. I was about to pick one up in 3 days. Discount due to finding it in inventory was 4050.

In regards to the people that make too much and don't qualify, you can still qualify if you lease. The dealer will prorate the tax incentive into your lease term.

I still own my gas car, yes, filling up your tank is way faster. But assuming you have charging set up at home, filling your gas car up feels more of an inconvenience in comparison. If you do not or cannot have a home charger, they do have a bunch of superchargers around at least in my area, but... charging can take 20 to 30+ minutes, and if it's congested, I've seen some people having to wait for an open spot to charge.

My recommendation is to test drive multiple times to see if this car is for you. I think most dealerships allow overnight demo drive, so ask and see if that's available. Test drove 3x before deciding it was the car for me. For those that don't want a Tesla, that's cool, just move onto another deal.
Exactly. For 95% of cases you can wake up every day with a "full tank" without having to go anywhere with an EV.

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