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expiredxTorquEx posted Apr 5, 2024 5:46 PM

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

$40,490

$44,990

10% off
(For Qualified Buyers)
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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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1.5K Comments

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Apr 8, 2024 8:58 PM
312 Comments
Joined Oct 2007
neatwordsApr 8, 2024 8:58 PM
312 Comments
I got my model Y during Christmas of 2022 during the first price cut. It is a coolest gadget I have own. Wish I could have gotten it at this price.
1
Apr 8, 2024 9:02 PM
977 Comments
Joined Aug 2022
MidnightGamerApr 8, 2024 9:02 PM
977 Comments
Quote from LivelyRoad633 :
I'd be interested, but after being spoiled by Hondas and Toyotas, I have three concerns:
1. Reliability
2. Cost of Repair
3. Depreciation
What are y'all's thoughts on this?
Quote from LivelyRoad633 :
I'd be interested, but after being spoiled by Hondas and Toyotas, I have three concerns:
1. Reliability
2. Cost of Repair
3. Depreciation
What are y'all's thoughts on this?
I can help answer your questions: Regarding depreciation, purchased a Tesla Model 3 Long Range with FSD for $63,000 in 2019 and in early 2024 with 75K miles on it and excellent condition, the trade-in value was from 23K to 26K. They do and will depreciate. I think they were overpriced in 2019, but the prices are much more reasonable now.

In terms of cost of repairs, there has been almost none, except for a skidplate / cover thing that broken when my wife went into a low drive way too fast. The part was like almost $300 and free installation. This model older needs air conditioning system cleaned and filter changed and did that twice and that's cheap. A 12v battery needed replacement and that was low cost and free install. Tesla's service dept. has been excellent. This Model 3 has been way cheaper than even my past Honda Civic natural gas car that started having problems like A/C, transmission and other problems at 125k miles.

The reliability has been excellent. No break downs, no being towed off the freeways or anything like that. If you drive fast, the tires will wear down prematurely and I've replaced 2 sets of tires in 5 years. I charge the Tesla's at home and I'd say they're about $80 a month. If you have solar, it's going to be super cheap to recharge at home.

Overall, the cars are very fast reliable and probably the safest cars on the road with getting the highest crash test ratings. I think the reliability and safety is why I bought a 2nd Tesla. I hope this helps and I recommend setting up a test drive. Good luck!
Last edited by MidnightGamer April 8, 2024 at 02:05 PM.
Apr 8, 2024 9:13 PM
334 Comments
Joined Jun 2015
ChlamberApr 8, 2024 9:13 PM
334 Comments
Quote from Simplicity1 :
Is it higher than a month ago? I thought they just dropped 5k, and they only increased 1k a month ago.
No, they are quoting inventory prices and that pricing is HIGHER now than it was a month ago. That's what is so ridiculous about all these "Tesla sales" articles we keep seeing. A model Y long range from inventory was $1500 cheaper in February than it is now…
Apr 8, 2024 9:14 PM
225 Comments
Joined Apr 2018
NetbookjunkieApr 8, 2024 9:14 PM
225 Comments
Who is the big car rental company wanting to get rid of their electric cars? This program may be part of it.
1
Apr 8, 2024 9:14 PM
4 Comments
Joined Oct 2020
WiseCatfish661Apr 8, 2024 9:14 PM
4 Comments
Anyone knows how good is the latest FSD now?
Apr 8, 2024 9:16 PM
396 Comments
Joined Apr 2012
kneeldugApr 8, 2024 9:16 PM
396 Comments
Quote from MidnightGamer :
I can help answer your questions: Regarding depreciation, purchased a Tesla Model 3 Long Range with FSD for $63,000 in 2019 and in early 2024 with 75K miles on it and excellent condition, the trade-in value was from 23K to 26K. They do and will depreciate. I think they were overpriced in 2019, but the prices are much more reasonable now.

In terms of cost of repairs, there has been almost none, except for a skidplate / cover thing that broken when my wife went into a low drive way too fast. The part was like almost $300 and free installation. This model older needs air conditioning system cleaned and filter changed and did that twice and that's cheap. A 12v battery needed replacement and that was low cost and free install. Tesla's service dept. has been excellent. This Model 3 has been way cheaper than even my past Honda Civic natural gas car that started having problems like A/C, transmission and other problems at 125k miles.

The reliability has been excellent. No break downs, no being towed off the freeways or anything like that. If you drive fast, the tires will wear down prematurely and I've replaced 2 sets of tires in 5 years. I charge the Tesla's at home and I'd say they're about $80 a month. If you have solar, it's going to be super cheap to recharge at home.

Overall, the cars are very fast reliable and probably the safest cars on the road with getting the highest crash test ratings. I think the reliability and safety is why I bought a 2nd Tesla. I hope this helps and I recommend setting up a test drive. Good luck!
Also, keep in mind that recent Toyotas and Hondas are not what they used to be. You can no longer assume you'll get over 150k miles. Far from it. A 2014 Toyota I know of was immaculately maintained and Toyota was fine with 2 head gaskets going out on it under 110k miles. It burned through tires, brakes, and rotors like the big truck it is as well as needing an axle. It rode well, but just not long enough! EVs have no head gaskets. That sounds great.
Apr 8, 2024 9:19 PM
334 Comments
Joined Jun 2015
ChlamberApr 8, 2024 9:19 PM
334 Comments
Quote from TurtlePerson2 :
PHV makes a lot of sense right now while batteries are expensive. The battery is between 25-50% of an EV's cost, so an EV can potentially be way cheaper if consumers settle for shorter range or if batteries become cheaper.

PHV recognizes that most people only drive short distances and that paying for a huge battery for the rare 100+ mile journeys isn't logical right now. I'm sure there are some people who regularly take advantage of the range, but for most people, it's like a family of 3 owning a 6 bedroom house so they can host people at Christmastime.
I see what you're saying but a PHV has a combustion engine and transmission along with all of their weight, cost, maintenance, and driving characteristics (not everything is just about how quickly you can refill a fuel tank). The battery warranty is 120,000 miles/8 years, people put way too much emphasis on EV batteries. That's before even factoring just how pathetic most PHEV cars are, a Prius has like 150hp vs Tesla at a minimum of about twice that AND it doesn't contend with complications of a revving engine and shifting transmission.
Last edited by Chlamber April 8, 2024 at 02:21 PM.

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Apr 8, 2024 9:21 PM
583 Comments
Joined Nov 2010
hocaspocasApr 8, 2024 9:21 PM
583 Comments
Quote from TurtlePerson2 :
PHV makes a lot of sense right now while batteries are expensive. The battery is between 25-50% of an EV's cost, so an EV can potentially be way cheaper if consumers settle for shorter range or if batteries become cheaper.

PHV recognizes that most people only drive short distances and that paying for a huge battery for the rare 100+ mile journeys isn't logical right now. I'm sure there are some people who regularly take advantage of the range, but for most people, it's like a family of 3 owning a 6 bedroom house so they can host people at Christmastime.
Totally. I was very sad when they killed the Volt 2nd gen, with almost 60mpg battery range and 50 mpg when running on gas. It was a technology that was too early for their time even for now. Now is the right time as more consumers know what a PHV is and their benefits. Volt design is 100% electric driven or serial hybrid, means wheels are connected to electric motors , so you get the instant torque compared to the Prius which is parallel hybrid with gas engine as support.
Last edited by hocaspocas April 8, 2024 at 02:25 PM.
Apr 8, 2024 9:26 PM
4.2K Comments
Joined Apr 2015
SeanD1497Apr 8, 2024 9:26 PM
4.2K Comments
Quote from Andrew025 :
You can get the credit if you have a "business" as well
That's one of the perks of owning a corporation. Mine is just a small S corp., just me, but there are certain tax advantages, like the ability to write some things off as expenses. Of course these are legitimate business expenses, mostly. Now, if you try to write things off as business expenses and don't have a corporation or LLC to do that through, you may have a big problem if you get audited. Just saying you have a 'business" (that isn't registered anywhere and doesn't have a tax ID) will get you into trouble eventually.
Apr 8, 2024 9:36 PM
1.8K Comments
Joined Oct 2009
ti97Apr 8, 2024 9:36 PM
1.8K Comments
Quote from TochiT :
As long as you don't earn too much to be disqualified, you get full $7,500 POS tax credit. IRS won't go after you if your tax liability is less than $7,500.

That is a terrible advice to give. Imagine getting the letter from the IRS 5 years from now, telling you you owe $15K for tax, penalty, and interest.
Apr 8, 2024 9:38 PM
1.2K Comments
Joined Mar 2006
coolbreezeApr 8, 2024 9:38 PM
1.2K Comments
Quote from wpc :
they turned on auto pilot and drove it from the factory to the dealership
Wouldn't it be amazing if you watch your car being built via live factory video stream, then you shift view to the car's camera system and watch it drive across the country right up to your driveway, all without human involvement đŸ’€
1
Apr 8, 2024 9:38 PM
304 Comments
Joined Nov 2012
SlickJimeeApr 8, 2024 9:38 PM
304 Comments
Quote from Dr. J :
Sorry but this is why we need some sort of class in schools to teach basic life skills.

What's withheld from your check has zero to due with tax liability - that's the amount of tax you are liable for at the end of the year, based on your income, deductions, etc, regardless of if you are getting a refund or have to write the IRS a check. Nonrefundable tax credits (all of them) do not pay you back in excess of your tax liability.
Well good thing they didn't teach this in school. I wouldn't remember it
1
Apr 8, 2024 9:48 PM
119 Comments
Joined Jan 2014
mattunApr 8, 2024 9:48 PM
119 Comments
Quote from SlickJimee :
Well good thing they didn't teach this in school. I wouldn't remember it
Honestly, I feel like somebody out there (I won't say Fox News, Big Oil, Toyota, or all three) seemed to be pumping the "Only a few people qualify, you have to OWE $7500 to get it" disinformation for over a decade now. No wonder people are confused about it. The Point of Sale discount makes it totally clear and I assure you all that I received a refund of over 12K in 2014 when I bought a Volt and solar panels despite being due a refund (not owing additional taxes) based on my salary even without the EV/solar credits.
Last edited by mattun April 8, 2024 at 02:53 PM.
Apr 8, 2024 9:52 PM
3 Comments
Joined Dec 2019
ErolemreApr 8, 2024 9:52 PM
3 Comments
I will wait couple more months. It will drop to 10K than I will buy.
2

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Apr 8, 2024 9:54 PM
704 Comments
Joined Jun 2018
TWKZ85Apr 8, 2024 9:54 PM
704 Comments
Quote from Erolemre :
I will wait couple more months. It will drop to 10K than I will buy.
Hah, EV market really is getting obliterated…

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