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2024 Tesla Model Y + $7,500 Federal Tax Credit Expired
$40490
$44,990.00
(For Qualified Buyers)
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:
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
Original Post
Written by
Edited April 5, 2024
at 11:26 AM
https://www.tesla.com/inventory/new/my
Tesla is attempting to clear out inventory on existing Model Y. With the instant $7,500 tax credit, this is an up to $12,500 discount on a new Model Y.
Prices seem to be as follows: After the $7,500 credit and new discount, the Model Y RWD starts at $33,890, the Long Range at $37,490, and the range-topping Model Y Performance at $40,690.
Tesla is attempting to clear out inventory on existing Model Y. With the instant $7,500 tax credit, this is an up to $12,500 discount on a new Model Y.
Prices seem to be as follows: After the $7,500 credit and new discount, the Model Y RWD starts at $33,890, the Long Range at $37,490, and the range-topping Model Y Performance at $40,690.
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Last Edited by desi_babu_2010
April 6, 2024
at
08:15 PM
Rebates depend on region. In California, discount is up to $7200 for RWD Y.
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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.
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Your insurance is going up unless you already drive a $100k + car. These are priced based on cost of repair and history of Tesla drivers crashing more than other brands. So expect an increase. Depending on where you live, your cost to charge may be a big savings over gas or not. For us, gas is very expensive, so using electricity is a savings - even though our local utility is also criminally over-priced (SDG&E).
Generally, you will want to charge at home over supercharging. Very nice to wake up to a full charge for the day. Expect to have a 240v plug installed or a dedicated wall charger.
The up side is the cars are nice and drive well. I don't see having to do anything more than changing tires, swapping out cabin air filters, and filling washer fluid. This month we got free Full Self Driving as a trial. It's cool, but I don't trust it. Not yet. it drives like an old lady - one with some vision issues. I would think in another year or so it will be pretty good.
Included games, browser, Netflix, YouTube, and other goodies make charging stops painless. I really like it for the family car that's used for taking the kids to school and activities. Not really there for long trips unless you are totally in California. Then it's ok as there are plenty of charging stations. But as you leave the West, it's a bit more of a concern. At present the ICE/ICE-hybrid is better for long trips.
https://www.irs.gov/newsroom/topi...les-credit
Question 4.
As already posted mutliple times today alone.
Holy cow why does nobody on here read existing posts before spamming misinformation to the thread?
Topic H, Q3 says the buyer must meet eligibility requirements in topic A:
Q3. What are the requirements a buyer must meet to be eligible to transfer the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit to a registered dealer? (added Oct. 6, 2023)
A3. A buyer must meet all eligibility requirements for the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit, as applicable. See Topic A, Topic B, Topic D and Topic E.
Topic A includes Q7:
Q7. Is the New Clean Vehicle Credit refundable or able to be carried forward? (updated Oct. 6, 2023)
A7. The New Clean Vehicle Credit may be claimed only to the extent of reported tax due of the taxpayer and cannot be refunded. The New Clean Vehicle Credit cannot be carried forward to the extent it is claimed for personal use on Form 1040, Schedule 3, Additional Credits and Payments. However, the New Clean Vehicle Credit can be carried forward to the extent it is claimed for business use on Form 3800, General Business Credit, as otherwise appropriate. See Topic H FAQ 3 regarding transfer of the Clean Vehicle Credits.
Question 4 is very specific,
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
so the dealer, in this case, tesla, will not deal with any recapture if you do not qualify. This does not mean that topic H Q3 does not matter, it specifically states how the dealer, not the buyer and not the IRS, handles the credit for the purposes of being point of sale
It means that per Topic A, Q7, if the buyer doesn't actually qualify, they will have issues come tax time. The only way that tesla was able to help you fill out the form 15400 was to use your SSN, can you guess who they submitted the F15400 to? the IRS
When they find that tesla reported the F15400 that stated you claimed a POS credit, but you don't file a return or you file a return and you don't actually have $7,500 of tax or have income over the limit and don't actually qualify... you may get a surprise in the mail
you need to read the entire Q&A, not just the sections you skim over.
1. Reliability
2. Cost of Repair
3. Depreciation
What are y'all's thoughts on this?
I would be most worried about the cost of insurance.
The subscription is for satellite images for your GPS, as well as a few other things that require high speed cell internet. Standard internet is included, which will show you regular drawn maps.
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Pick up a phone and call then? My insurance was barely more than my other cars, and certainly not anything worth worrying about.
but showing the traffic visualization is part of premium connectivity
https://www.tesla.com/support/connectivity
I will short some TSLA stock tomorrow, maybe i will get a car for free end of this year
But I would tell everyone to avoid any of their cars from the first year of model production. Model 3 and Y took about a year to really reach "acceptable" / "design complete" - same can be said about the Cybertrucks people are getting today.
That said - these cars, with incentives and our driving habits - made perfect sense. They've both proven to be very well made cars, with no panel gap issues to speak of.
However everyone I've known with a 2018/2019 Model 3 or 2020 Model Y has talked about the thousands of dollars of "Free" warranty work their cars received to reconcile issues due to immature/incomplete design decisions.
Absolutely great point that I don't think is appreciated enough. Owning a 2023, I was appalled at the quality of a 2019 pre-refresh model 3 that I got into as a loaner. The overall fit and finish was incredibly worse. The same went for a 2021 pre-refresh model S. Having been in those I totally get how some people have a dislike for Tesla if that was their experience. They have improved exponentially.
Topic H, Q3 says the buyer must meet eligibility requirements in topic A:
Q3. What are the requirements a buyer must meet to be eligible to transfer the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit to a registered dealer? (added Oct. 6, 2023)
A3. A buyer must meet all eligibility requirements for the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit, as applicable. See Topic A, Topic B, Topic D and Topic E.
Topic A includes Q7:
Q7. Is the New Clean Vehicle Credit refundable or able to be carried forward? (updated Oct. 6, 2023)
A7. The New Clean Vehicle Credit may be claimed only to the extent of reported tax due of the taxpayer and cannot be refunded. The New Clean Vehicle Credit cannot be carried forward to the extent it is claimed for personal use on Form 1040, Schedule 3, Additional Credits and Payments. However, the New Clean Vehicle Credit can be carried forward to the extent it is claimed for business use on Form 3800, General Business Credit, as otherwise appropriate. See Topic H FAQ 3 regarding transfer of the Clean Vehicle Credits.
Question 4 is very specific,
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
so the dealer, in this case, tesla, will not deal with any recapture if you do not qualify. This does not mean that topic H Q3 does not matter, it specifically states how the dealer, not the buyer and not the IRS, handles the credit for the purposes of being point of sale
It means that per Topic A, Q7, if the buyer doesn't actually qualify, they will have issues come tax time. The only way that tesla was able to help you fill out the form 15400 was to use your SSN, can you guess who they submitted the F15400 to? the IRS
When they find that tesla reported the F15400 that stated you claimed a POS credit, but you don't file a return or you file a return and you don't actually have $7,500 of tax or have income over the limit and don't actually qualify... you may get a surprise in the mail
you need to read the entire Q&A, not just the sections you skim over.
Downside is resale value, and I blame Hertz for what should be a temporary matter (and this may be partly why Tesla is having issues moving new inventory), but this car will be handed down due to its reliability should I ever decide to purchase a replacement. I've felt since the beginning that i was buying a care that would last 2 to 4x longer than any other car I've purchased prior. If I lose, or win, the battery lottery and it craps out after the 120k warranty I'll gladly plop down $15k for a replacement battery. Best car ever.
Topic H, Q3 says the buyer must meet eligibility requirements in topic A:
Q3. What are the requirements a buyer must meet to be eligible to transfer the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit to a registered dealer? (added Oct. 6, 2023)
A3. A buyer must meet all eligibility requirements for the New Clean Vehicle Credit or Previously Owned Clean Vehicle Credit, as applicable. See Topic A, Topic B, Topic D and Topic E.
Topic A includes Q7:
Q7. Is the New Clean Vehicle Credit refundable or able to be carried forward? (updated Oct. 6, 2023)
A7. The New Clean Vehicle Credit may be claimed only to the extent of reported tax due of the taxpayer and cannot be refunded. The New Clean Vehicle Credit cannot be carried forward to the extent it is claimed for personal use on Form 1040, Schedule 3, Additional Credits and Payments. However, the New Clean Vehicle Credit can be carried forward to the extent it is claimed for business use on Form 3800, General Business Credit, as otherwise appropriate. See Topic H FAQ 3 regarding transfer of the Clean Vehicle Credits.
Question 4 is very specific,
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
so the dealer, in this case, tesla, will not deal with any recapture if you do not qualify. This does not mean that topic H Q3 does not matter, it specifically states how the dealer, not the buyer and not the IRS, handles the credit for the purposes of being point of sale
It means that per Topic A, Q7, if the buyer doesn't actually qualify, they will have issues come tax time. The only way that tesla was able to help you fill out the form 15400 was to use your SSN, can you guess who they submitted the F15400 to? the IRS
When they find that tesla reported the F15400 that stated you claimed a POS credit, but you don't file a return or you file a return and you don't actually have $7,500 of tax or have income over the limit and don't actually qualify... you may get a surprise in the mail
you need to read the entire Q&A, not just the sections you skim over.
This exactly. Notice the IRS is very specific here:
"A4. The amount of the credit that the electing taxpayer elects to transfer to the eligible entity may exceed the electing taxpayer's regular tax liability for the taxable year in which the sale occurs, and the excess, if any, is not subject to recapture from the dealer or the buyer. "
Pay attention to the terms they use. The "taxpayer" and the "buyer" are not the same entity. Buyer here is probably referring to the dealer (buying and reselling).
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I know of to many people who own Tesla's for over two years and they have yet to have one problem.