I bought my model y long range from inventory at 9:30 am Friday and got $7500 off msrp and the car was already discounted $5000 im soo happy got it for $40,000 after all Taxs and fees
@@BeardedTeslaGuy it’s an awesome deal. I’m glad I sold my Model 3 earlier this week before the refreshes became available. It would have killed my sale. I’m enjoying it a lot. I’ve watched your videos every step of the way.
I think that only applies to inventory cars. Not sure why, but if you’re ordering a new one, it looks like you get the $7500 tax credit on the standard range. Unless it’s changed again…
How would you be able to know an Inventory Model Y RWD would be a 2024 (eligible) or a 2023 (ineligible) when buying one new with POS in 2024? I spent about 1 hour looking at MYRWD in Inventory in different zip codes and all showed the "This vehicle does not qualify for the tax rebate" wording at the top of each.
It sounds like the $7,500 is treated like a "check payment" at the dealer? It sounds like the sales tax is calculated on the actual purchase price, not on purchase price - $7500? i.e. if car is $40,000 and you live in 9% sales tax area you'll pay total $36,100 ($40,000+$3,600 sales tax-$7,500) instead of $35,425 ($40,000-$7,500+$2,925 sales tax). Any insight on this?
Just ordered the Y. From what I can tell, your sales tax is based on the total cost of the vehicle before the 7500 comes off. I am trading in a car so I will save a little on the sales tax.
@BeardedTeslaGuy, wanted to ask for your opinion - as of today, Tesla no longer offers free color options for the Model X, so if I buy the base Model X in other than silver, it doesn’t qualify for the $7500 tax/point of sale credit. This apparently just happened in the last few days. Thoughts?
Not true, it is dependent on the zip code, try it for 90045. I see about 5 for that zipcode and one neighboring other zipcode in So Cal. Price is just over 38,000.
@@jonferraez others please feel free to share your experience. There were some earlier in the afternoon here in FL. I tried other zip codes in Florida, evening. That zip in socal reads “This vehicle is not available for your registration ZIP code”
Hopefully at some point we will get Inventory 2024 Model Y RWD (like at least demo vehicles, like someone who wanted to try driving around with the two new colors!), but I don't think there are any on the website right now. Because that 2024 model year Y RWD will have to be eligible (unless they deem demo vehicles as a used and not a new vehicle, I'm not sure if that could be possible for a demo vehicle).
I don't see any INVENTORY Model Y RWD that come with the discount AND the $7500 tax savings. All the Model Y inventory cars say 'NOT ELIGIBLE". Was that an error on yoyur part in the video??
How would you be able to know an Inventory Model Y RWD would be a 2024 (eligible) or a 2023 (ineligible) when buying one new with POS in 2024? I spent about 1 hour looking at MYRWD in Inventory in different zip codes and all showed the "This vehicle does not qualify for the tax rebate" wording at the top of each. Are you just guessing that soon some Inventory MYRWD will come available as to qualify or did you actually see a 2024 model year RWD to buy? I'm not sure how you know it is a 2024 other than maybe the Stealth Grey or Ultra Red color was listed on it? Those two new 2024 colors are not even in the Inventory Filter yet.
@@BeardedTeslaGuywe ordered on the 8th after watching your video and locked in a MYLR for 44,590. We take delivery tomorrow at 1pm, I will contact delivery team in the morning. Whether I take the discount now or take it when I file my taxes I will still be getting a new model y for 37K. Thank you for the great videos.
We took delivery on our model y yesterday. When we asked how the tax credit worked, the rep at Tesla told us we would get a check for the credit mailed to us in a couple of weeks. After reading posts online today, no one seemed to mentioning checks mailed so we reached out and he said “There must have been miscommunication. You are self claim so you’ll have to wait until you file your 2024 taxes” we’ve talked to 2 other reps and they said there’s nothing they can do now. Super frustrating!
Calling my Tesla gurus! My sister is at dealership in CA and they are NOT letting me use my referral code for a Model 3. Salesman says M3SR no longer qualifies and they also get no points. Someone find out if they add Getting bad sales info. I’ve gotten a model 3 credit SIX times this year. UPDATE: checked the website in the app and M3 no longer listed for credit. Sucks when referring folks. I’m trying to save for FSD for life.
I live 30 minutes from NJ and would save $5,000 in sales tax if I got a model x there. Could I rent an apt for a month or two and get the car there? Can’t believe they have no sales tax on these
Found the answer 183 days to become a resident to get that benefit. Unlikely it’ll help for a model x. Found a cheap garage (they call it a 1 room) for $150 a month 150 x 6 = $900. $6,288 in tax saved. $5,388 would be great savings but I doubt that will happen, considering I won’t even bother with the rented place it’ll probably cost more with fees and utilities. I wouldn’t call it tax evasion like avoiding paying yearly taxes. I see a ton of NJ plates here in PA. When I do my taxes sometime next month or two I’ll let you know.
On Model Y inventory Long Range, why some show 318 miles and other shows 330 miles and some 310 miles? Is that because of year model? 330 Miles are 2023 model- 318 and 310 are 2024 model?
How would you be able to know an Inventory Model Y RWD would be a 2024 (eligible) or a 2023 (ineligible) when buying one new with POS in 2024? I spent about 1 hour looking at MYRWD in Inventory in different zip codes and all showed the "This vehicle does not qualify for the tax rebate" wording at the top of each. Are you just guessing that soon some Inventory MYRWD will come available as to qualify or did you actually see a 2024 model year RWD to buy? I'm not sure how you know it is a 2024 other than maybe the Stealth Grey or Ultra Red color was listed on it? Those two new 2024 colors are not even in the Inventory Filter yet.
Correction: Model Y RWD in the inventory DO NOT qualify for the tax credit, click into individual car and it says right at the top. Someone reached out to Tesla and they were told that's because they are 2023 models.
Good correction…but That can’t be the reason because the 2023 inventory of the model y long range Does qualify. Tesla must be putting Chinese LFP batteries in the RWD
@@BeardedTeslaGuyI'm not seeing any 2024 MYRWD in the Inventory, on the website, tried a bunch of zip codes, and all stated the warning at the top that the car doesn't qualify for the tax credit.
I am right there with you but havent hit the buy button yet. my only hesitation is I want the new stealth gray rather then the old gray thats in inventory . But the old gray is 5k off right now, not sure the stealth gray will ever get that much of a discount.. so I may have to do it.
No. And from what I have read if you take the tax credit at sale - assign to Tesla - the IRS cannot claw back if you, otherwise, decide to apply the tax credit at 2024 tax filing. In all cases you still have to abide by income limits, but not for taxes paid/owed if you assign the credit. The amount of the credit could be reduced if you do not assign it at acquisition and choose to wait for tax filing time and taxes paid/owed is not high enough to get the whole credit.
nope. supposedly you'll have to sign paperwork saying something like "to the best of my knowledge I qualify for this tax credit" and then next year when you do your taxes, if you don't actually qualify the IRS will probably audit you and make you pay it back.
How does the dealer transfer of credit work? What is the Tesla dealer? I've never heard an explanation that makes sense regarding this. Can one still get $7,500 off the price if they don't have that amount of federal tax liability if the credit is transferred?
The RWD from 2023 does not qualify for the tax credit. Only the 2024 model so you can’t double dip that version. It makes no sense to buy it vs the LR inventory.
I knew I should have waited. Picked up my X on 1/9. I filled out the EV tax credit paperwork on the app but Tesla was not ready with the paperwork. Any word if Tesla is grandfathering early 2024 deliveries?
I’m a lot confused here by the details focusing on tax liability yesterday the day the IRS finally came out with their guidance. I got a call from a Tesla rep and asked them if I don’t owe 7500 in liability can I still get the 7500 off and she told me I would have to pay the difference between your personal liability and the 7500 it’s not 7500 off for everybody, if you fall under the income caps. In the beginning of your video, it makes it sound like everyone gets it if they transfer the credit at the Tesla store Is there a place we can go and see the official language for ourselves?
this is the part that everybody is NOT talking about and the fine print folks are not reading 😂 people are in for a shock when they’ll have to pay it back depending on their situation. it’s not free money
@@baphomathedude8057 Cybertruck is a totally new vehicle with a new production line. Juniper should happen about as fast as Highland and China is supposed to start producing Juniper in February
The only other consideration is political. IF the GOP wins the White House and Congress there is a definite possibility they may kill the EV credit through new legislation.
2023-2024 models should not matter. As long as it’s a new vehicle and an eligible model, it shouldn’t matter. That’s like buying a SR model 3 today and trying to claim the 7500$ tax credit that was available last year, it won’t work😂
@@MindTesla I’m saying if you’re spending the $, it’s already 2024. You can save 1-4k on top of the $7500 With an inventory vehicle, but it will be a (2023) on paper.
I’m super sad! My niece ordered a Tesla yesterday in California at the dealership and we learned that although the new Highland comes with the enhanced auto pilot which is very cool so you don’t have to pay that they are not taking the $7500 off for her Also they were not gonna take the $4000 off of a used vehicle. She only makes $80k a year so she’s well under the 150 a year cap. She just graduated college and the Highland no longer has reward points so I don’t get my referral credit she doesn’t get her points and she’ll have to come out of pocket a lot. She will have to come out of pocket for her monthly navigation, mudflaps, and the floor mats. So I love Tesla. I’ll only shop Tesla. But people need to know that getting the new bells and whistles comes with a little bit of different buying experience for those of us who have been Tesla owners for a long time and are used to lots of fun perks. I expected a BETTER first time buying experience for her. She’s 22. I thought they would have helped her understand more. Wish I was there to help her. 😢😅
I have no idea why you're so adamant about inventory discounts going away because of POS credit. The $7500 tax credit has been there in conjunction with the discounts from day one, so why would it change now? Just because it's a POS credit instead of a credit at tax time, they're going to remove inventory discounts? That makes zero sense, unless you have some insider information.
The inventory discounts are probably still gonna be here. I agree with you, I believed what he was saying for a while but yah it wouldn’t make logical sense.
Well I don’t know, but I just checked the inventory cars and they’ve gone up $5000 from what they were yesterday. So there’s that. Not sure the rational for them doing it, but it happened…
Reason why discounts will be removed. Tesla stock price…. Down $60 last 2 weeks Tesla bosses, or its shareholders, does not want to see more Discounts. Tax credits doesn’t tractor into profit margins Tesla shows to investors but inventory discounts does. To increase profit margins Tesla must stop discounts and no better way to do it then remove inventory discounts
Im still confused about taking the tax liability & taking multiple credits. Let’s say I take 2 credits, do I still need to calculate my tax liability so that I don’t have to pay back to irs?
I’m so glad I saw your video yesterday morning before I picked up my car. I was able to make the change and take the rebate at the time up pick up. Just a heads up it did delay my pick by about 1 hour for the agreement to process in the app.
Still dont want one. My paid off ICE vehicles will last another 10 -15 years with excellent maintenance. If I had to pull the trigger again it now would be an ICE Accord or RAV4. $50k is $15k too much for transportation.
EV is not for everyone. Especially if you want a barebone base trim vehicle. But if you bring that RAV4 to AWD Hybrid XLE premium trim with audio tech package (so that it'll be an apple-to-apple with Tesla Y), it'll be at almost the same price. And you throw down gas price and maintenance... all of sudden Tesla Y start to become an economy based decision. I was like you for the last 25 years. I always bought a base trim cars with cash (like Accord DX or Camry LE). I even did a lot of maintenance myself, and kept these going for 150K+ miles. I make enough money to just go buy BMW's and Audi's, but I never felt the need. But this year, I wanted something little bit nicer for my wife who's been driving beater cars for decades. So I started to look for higher trims (like XLE's or SE's and EX-L's) and it got real expensive real quick - to a point that I was in the Acura/Lexus territory. Then saw the Model Y, thousands cheaper than Lexus NX hybrid. I also saw the news that Model Y outsold RAV4 in 2023. Data usually don't lie. So I decided to give Tesla a shot. So far, I'm very, VERY impressed.
Please check into the scenario of LEASING one of the inventory Model 3s that don't qualify for $7500 *if purchased*. Leasing removes the income qualification and battery materials and place of manufacture requirements. Caveat is that the seller is NOT obligated to pass on the $7500 and it may be a point of negotiation depending on who you are dealing with (meaning non-Tesla Legacy OEM dealerships). Where Tesla stands on this is unclear to me. Some non-Tesla dealers are calling this a "lease incentive". Source: Plug In America Jan 11th Webinar & webpage
Is it for sure that they will remove the inventory discount on all inventory cars with the point of sale tax credit now being in place? Or will this just depend on demand and their need to sell cars?
I picked up a Y today and I got the POS credit. The Tesla rep says that they are not getting rid of the discounted inventory bc they are trying to get rid of the existing inventory.
@@BeardedTeslaGuy JUST BEWARE! TESLA IS VERY SHADY RIGHT NOW. ONLINE THEY PRICED THE CAR AT 48,000 PLUS, WHEN I WENT TO THE APP TO SCHEDULE THE DELIVERY THE PRICE INCREASED TO 53,000 PLUS, WITHIN MINUTES. AND GUESS WHAT, THE $250.00 ORDER FEE IS NOT REFUNDABLE. THESE PEOPLE ARE SO GREEDY, DECEITFUL. Reply
I see where the tax credit applies to leases on otherwise purchase/ finance approved cars. I have read elsewhere that Tesla mucks around with the money factor and, maybe, residual to reduce the impact of the credit to the customer in favor of the lessor (Tesla). It’s also not clear to me if/how the tax credit works on otherwise non qualifying vehicles like a Model X six seater with yoke.
Does anyone know if Tesla plans on adding more vehicles to the new car inventory? I was looking for a Model 3p in White but mostly grey , black and red. Any chance they will continue to add to the inventory?
Like I mentioned to you on your last video, the model Y RWD that are dealer inventory are 2023 vins, and are NOT elegible for the federal rebates. Click on one and see for yourself!
Tesla stock will continue to suffer as base model 3 doesn't Qualify for $7500 Rebate... Elon 🤥 closed Germany 🇩🇪 Mfg down due to Lack of Demand--- don't need red sea for shipping cars from Germany to Europe... Revenue /Margins will be BELOW projections THIS QTR---most buyers of base Model 3 don't buy FSD or other options.... Will look to go long end of March....
Its great that industry leader is dropping prices and margin like a stone. This should force the reluctant competition to do so as well. We need Elon to supply natural gas, electical generation and pharmaceuticals to homes so competition drives these costs down. Competition. Thats the key to efficiency.
I just bought a tesla two weeks ago 😢
Rip to the resell value of my MY
The $3600 probable savings is misleading. You have to add in the cost to charge the car.
THIS IS GREAT NEWS!
💪
Finally somebody who knows what they are talking about.
Thanyou sir
Welcome!
I bought my model y long range from inventory at 9:30 am Friday and got $7500 off msrp and the car was already discounted $5000 im soo happy got it for $40,000 after all Taxs and fees
Did they let you use the 7500 as a down payment? Or where you still required to give the 4500 of your own money?
@@sr.tacothe3rd395 I’m not sure if that’s possible I just added it to my down payment sorry call Tesla and ask
It’s there I just took delivery of one this morning
Congrats!
@@BeardedTeslaGuy it’s an awesome deal. I’m glad I sold my Model 3 earlier this week before the refreshes became available. It would have killed my sale. I’m enjoying it a lot. I’ve watched your videos every step of the way.
Why are rwd my in inventory not qualified 😢
2023’s apparently are not qualified, but 2024 RWD is
Site now states Y RWD does not qualify for tax credit
Where? I still see that it does apply?
I think that only applies to inventory cars. Not sure why, but if you’re ordering a new one, it looks like you get the $7500 tax credit on the standard range. Unless it’s changed again…
Apparently 2023 MY RWD doesn’t get the credit
It does, but it has to be a 2024 model
How would you be able to know an Inventory Model Y RWD would be a 2024 (eligible) or a 2023 (ineligible) when buying one new with POS in 2024? I spent about 1 hour looking at MYRWD in Inventory in different zip codes and all showed the "This vehicle does not qualify for the tax rebate" wording at the top of each.
The tax rebate makes no sense...
It sounds like the $7,500 is treated like a "check payment" at the dealer? It sounds like the sales tax is calculated on the actual purchase price, not on purchase price - $7500? i.e. if car is $40,000 and you live in 9% sales tax area you'll pay total $36,100 ($40,000+$3,600 sales tax-$7,500) instead of $35,425 ($40,000-$7,500+$2,925 sales tax). Any insight on this?
Just ordered the Y. From what I can tell, your sales tax is based on the total cost of the vehicle before the 7500 comes off. I am trading in a car so I will save a little on the sales tax.
Great! now time to get Wife convinced
What about the used?
Was waiting for your video. Got my discounted Tesla on Tuesday. Taking delivery tomorrow and they were able
To apply POS Tax Credit to my loan. 🙌
So awesome! Congrats!
So the taxes you paid was before the $7500 POS correct? Not after?
@@seannguyen593 taxes are based on MSRP. The tax incentive is treated like a down payment
Correct, they apply the 7500 after taxes, that brought my monthly payment down.
@@DarielJugandowas that 7500$ able to be used towards the “down payment”?
@BeardedTeslaGuy, wanted to ask for your opinion - as of today, Tesla no longer offers free color options for the Model X, so if I buy the base Model X in other than silver, it doesn’t qualify for the $7500 tax/point of sale credit. This apparently just happened in the last few days. Thoughts?
Get the base color. All others will make the X ineligible meaning it’s not just 1-2k upgrade, it’s that plus $7,500
They bought up all the standard Y's out of the inventory :(
That was quick
Not true, it is dependent on the zip code, try it for 90045. I see about 5 for that zipcode and one neighboring other zipcode in So Cal. Price is just over 38,000.
@@jonferraez others please feel free to share your experience. There were some earlier in the afternoon here in FL. I tried other zip codes in Florida, evening. That zip in socal reads “This vehicle is not available for your registration ZIP code”
@@ShogunxCALtry 91320, there are 3-4 as of 5:40 PM on 01/12/24.
I think, model Y 2023 RWD model does not qualify. Only RWD 2024 I think which not available in website…
This is definitely the case. When you click on am inventory 2023 MY RWD it specifically states that it's not eligible.
That appears to be the case
Hopefully at some point we will get Inventory 2024 Model Y RWD (like at least demo vehicles, like someone who wanted to try driving around with the two new colors!), but I don't think there are any on the website right now. Because that 2024 model year Y RWD will have to be eligible (unless they deem demo vehicles as a used and not a new vehicle, I'm not sure if that could be possible for a demo vehicle).
Just ordered Model Y Long Range. Saved almost 13k
Congratulations!
@@BeardedTeslaGuy thank you!
How’s Vegas!
Great!
I don't see any INVENTORY Model Y RWD that come with the discount AND the $7500 tax savings. All the Model Y inventory cars say 'NOT ELIGIBLE". Was that an error on yoyur part in the video??
How would you be able to know an Inventory Model Y RWD would be a 2024 (eligible) or a 2023 (ineligible) when buying one new with POS in 2024? I spent about 1 hour looking at MYRWD in Inventory in different zip codes and all showed the "This vehicle does not qualify for the tax rebate" wording at the top of each. Are you just guessing that soon some Inventory MYRWD will come available as to qualify or did you actually see a 2024 model year RWD to buy? I'm not sure how you know it is a 2024 other than maybe the Stealth Grey or Ultra Red color was listed on it? Those two new 2024 colors are not even in the Inventory Filter yet.
It’s only for 2024 RWD models. I will make sure in future videos I clarify that.
I’m waiting for my cybertruck reservation. This would be applicable to the cybertruck, right?
As long as it’s under the 80k cap yes
I got the message and was just waiting for your post!
Appreciate you!
I ordered already Jan 8 can I have point of sale discount instead of claim 7500
No. If you already accepted delivery, you can’t change it.
I ordered model y on 1/5, did not except delivery yet. Can I claim it on the delivery date?
@@JCsFunWorld you should be able to, i'd call and make sure before taking delivery.
As long as you haven’t taken delivery then you still can choose
@@BeardedTeslaGuywe ordered on the 8th after watching your video and locked in a MYLR for 44,590. We take delivery tomorrow at 1pm, I will contact delivery team in the morning. Whether I take the discount now or take it when I file my taxes I will still be getting a new model y for 37K. Thank you for the great videos.
“Oh yeah, it’s all coming together.”
-Kronk.
Lol
My exact thoughts
We took delivery on our model y yesterday. When we asked how the tax credit worked, the rep at Tesla told us we would get a check for the credit mailed to us in a couple of weeks.
After reading posts online today, no one seemed to mentioning checks mailed so we reached out and he said “There must have been miscommunication. You are self claim so you’ll have to wait until you file your 2024 taxes” we’ve talked to 2 other reps and they said there’s nothing they can do now. Super frustrating!
Great video
Thanks!
Yay! I will pick MYLR next week with $7500 off at POS! It already took off $3430 from $48990 and tax credit added, so it became under $40k! Lucky!!!
how did you get $3430 off more? ty
@@kimnguyen-jb2zfi am also waiting on this 😊
do the 19" tires ride better than the 20 on the model Y?
Yes
Yes
7500 discount is before tax or after all taxes?
after
After
Calling my Tesla gurus! My sister is at dealership in CA and they are NOT letting me use my referral code for a Model 3. Salesman says M3SR no longer qualifies and they also get no points. Someone find out if they add Getting bad sales info. I’ve gotten a model 3 credit SIX times this year.
UPDATE: checked the website in the app and M3 no longer listed for credit. Sucks when referring folks. I’m trying to save for FSD for life.
Thank you for the detail!one question,if i purchased the car is year,can i sell it or trade in it to another car without penalty？
30 days
@@BeardedTeslaGuy thanks for the reply！so i can trade in it after 30days without penalty right？
cries in tesla 3 highland
Lol
What happens if someone wants to lease the Tesla model Y ?
I live 30 minutes from NJ and would save $5,000 in sales tax if I got a model x there. Could I rent an apt for a month or two and get the car there? Can’t believe they have no sales tax on these
No clue on state tax evasion…
@@BeardedTeslaGuy we prefer the term "State Tax Avoidance" LOL
Thanks lol , I wish all states had the same traffic laws and ev rebates
Found the answer 183 days to become a resident to get that benefit. Unlikely it’ll help for a model x. Found a cheap garage (they call it a 1 room) for $150 a month 150 x 6 = $900. $6,288 in tax saved. $5,388 would be great savings but I doubt that will happen, considering I won’t even bother with the rented place it’ll probably cost more with fees and utilities. I wouldn’t call it tax evasion like avoiding paying yearly taxes. I see a ton of NJ plates here in PA. When I do my taxes sometime next month or two I’ll let you know.
I prefer the original tax credit scheme. It was so much simpler.
Any way to get the $7,500 fed tax credit for those exceeding income limit? Thanks.
No
Just make sure you have your AGI right. With deductions maybe you are closer than you realize
On Model Y inventory Long Range, why some show 318 miles and other shows 330 miles and some 310 miles? Is that because of year model? 330 Miles are 2023 model- 318 and 310 are 2024 model?
Since the $7500 is taken off after the total, I assumed buyers have to pay taxes on the $7500 correct?
Yes, this credit applies after taxes and fees. It’s like cash
FYI I think your new effective prices are off, I’m showing the cheapest model y rwd is not eligible for the tax credit for in inventory
Inventory is different throughout the country. Have to find a 2024 to qualify
How would you be able to know an Inventory Model Y RWD would be a 2024 (eligible) or a 2023 (ineligible) when buying one new with POS in 2024? I spent about 1 hour looking at MYRWD in Inventory in different zip codes and all showed the "This vehicle does not qualify for the tax rebate" wording at the top of each. Are you just guessing that soon some Inventory MYRWD will come available as to qualify or did you actually see a 2024 model year RWD to buy? I'm not sure how you know it is a 2024 other than maybe the Stealth Grey or Ultra Red color was listed on it? Those two new 2024 colors are not even in the Inventory Filter yet.
That's great news.
Indeed
Does tax credit apply to leases?
Yes
Technically yes, but it’s up to Tesla/the bank to decide how much to apply to the lease, which is then seen in the payment
Bearded Tesla Guy, thanks for your videos!
My pleasure!
Haven’t heard anything about used car purchases? Is that still a thing? Can you receive a tax credit?
When I look at SR Model Ys in inventory they say that these are NOT eligible for the tax credit.
Correction: Model Y RWD in the inventory DO NOT qualify for the tax credit, click into individual car and it says right at the top. Someone reached out to Tesla and they were told that's because they are 2023 models.
Good correction…but That can’t be the reason because the 2023 inventory of the model y long range Does qualify. Tesla must be putting Chinese LFP batteries in the RWD
@@ryanbailey8690 or they could be 2170 cells made by LG Chem China..
Correct. 2024 models only, but there are some in inventory
@@BeardedTeslaGuyI'm not seeing any 2024 MYRWD in the Inventory, on the website, tried a bunch of zip codes, and all stated the warning at the top that the car doesn't qualify for the tax credit.
@@BeardedTeslaGuy Thanks - How can you tell if Model Y is 2023 or 2024 from inventory view?
are you able to transfer tax credit for a tesla we bought last year? didnt file yet
Are the tax credits limited to once every three years per taxpayer?
2 every year
Thank you for your video! I pulled the trigger right after watching this! I have been thinking about buying a Model Y for a month now.
I am right there with you but havent hit the buy button yet. my only hesitation is I want the new stealth gray rather then the old gray thats in inventory . But the old gray is 5k off right now, not sure the stealth gray will ever get that much of a discount.. so I may have to do it.
Do you need to bring in your taxes to qualify.
No. And from what I have read if you take the tax credit at sale - assign to Tesla - the IRS cannot claw back if you, otherwise, decide to apply the tax credit at 2024 tax filing. In all cases you still have to abide by income limits, but not for taxes paid/owed if you assign the credit.
The amount of the credit could be reduced if you do not assign it at acquisition and choose to wait for tax filing time and taxes paid/owed is not high enough to get the whole credit.
nope. supposedly you'll have to sign paperwork saying something like "to the best of my knowledge I qualify for this tax credit" and then next year when you do your taxes, if you don't actually qualify the IRS will probably audit you and make you pay it back.
No it’s a self declaration. At tax time if you lied you’ll owe it back
Is the income based on the 2023 or 2024 tax returns?
Love your channel Any info on the used tesla tax credit?
Any news for the 4000 used EV credit?
How does the dealer transfer of credit work? What is the Tesla dealer? I've never heard an explanation that makes sense regarding this. Can one still get $7,500 off the price if they don't have that amount of federal tax liability if the credit is transferred?
It’s all done behind the scenes. You’ll select your decision to transfer while ordering or paying
@@BeardedTeslaGuy can you explain more, I just purchased the MYP in the morning
@@BeardedTeslaGuy “Do you want to apply the $7500 credit to your order today by transferring to Tesla” is this what you mention to choose ?
@@chicuvuongyes
you think if i wait until next week to put in my order i will miss the discount with the tax credit??
Does that mean I have to go to the dealer and order it?
Online
The RWD from 2023 does not qualify for the tax credit. Only the 2024 model so you can’t double dip that version. It makes no sense to buy it vs the LR inventory.
Yea crazy turns out the 2023 RWD isn’t qualified but the 2024 is
I was thinking about getting model 3 this year, but since they no longer offer the $7500 credit I will pass...
Hope they work to get it qualified once again
I knew I should have waited. Picked up my X on 1/9. I filled out the EV tax credit paperwork on the app but Tesla was not ready with the paperwork. Any word if Tesla is grandfathering early 2024 deliveries?
I’m a lot confused here by the details focusing on tax liability yesterday the day the IRS finally came out with their guidance. I got a call from a Tesla rep and asked them if I don’t owe 7500 in liability can I still get the 7500 off and she told me I would have to pay the difference between your personal liability and the 7500 it’s not 7500 off for everybody, if you fall under the income caps. In the beginning of your video, it makes it sound like everyone gets it if they transfer the credit at the Tesla store Is there a place we can go and see the official language for ourselves?
this is the part that everybody is NOT talking about and the fine print folks are not reading 😂 people are in for a shock when they’ll have to pay it back depending on their situation. it’s not free money
another rep told me there's no min income requirement. Not sure who's right!
@@JustAsaph
When did this officially go live? I checked last night and it was still not there yet
About 10:30 this morning or so
I feel that every time I wait the deals for tesla keep getting better, but I think I prefer waiting for the Model Y Juniper
You will be waiting until 2025 or 2026. With the production rate of the Cybertruck, and Highland, no way Juniper is this year.
I was thinking the same
@@baphomathedude8057 Cybertruck is a totally new vehicle with a new production line. Juniper should happen about as fast as Highland and China is supposed to start producing Juniper in February
Refresh model Y for the win!
The only other consideration is political. IF the GOP wins the White House and Congress there is a definite possibility they may kill the EV credit through new legislation.
I don’t think it’s a delay in inventory discounts. Those are 2023 models. They should be discounted
That makes sense
Hope it stays for the rest of these inventory cars. Tesla employees have only been saying PoS will remove discount. But so far no change
2023-2024 models should not matter. As long as it’s a new vehicle and an eligible model, it shouldn’t matter.
That’s like buying a SR model 3 today and trying to claim the 7500$ tax credit that was available last year, it won’t work😂
@@MindTesla I’m saying if you’re spending the $, it’s already 2024. You can save 1-4k on top of the $7500 With an inventory vehicle, but it will be a (2023) on paper.
There are some 2024 models in inventory. You can tell because some of them (at least in my area) are showing 310 mi of range
Curious at the time of delivery, are they requesting documentation for income verification? Curious about “loopholes” for the income if there are any.
I’m super sad! My niece ordered a Tesla yesterday in California at the dealership and we learned that although the new Highland comes with the enhanced auto pilot which is very cool so you don’t have to pay that they are not taking the $7500 off for her Also they were not gonna take the $4000 off of a used vehicle. She only makes $80k a year so she’s well under the 150 a year cap. She just graduated college and the Highland no longer has reward points so I don’t get my referral credit she doesn’t get her points and she’ll have to come out of pocket a lot. She will have to come out of pocket for her monthly navigation, mudflaps, and the floor mats. So I love Tesla. I’ll only shop Tesla. But people need to know that getting the new bells and whistles comes with a little bit of different buying experience for those of us who have been Tesla owners for a long time and are used to lots of fun perks. I expected a BETTER first time buying experience for her. She’s 22. I thought they would have helped her understand more. Wish I was there to help her. 😢😅
I have no idea why you're so adamant about inventory discounts going away because of POS credit. The $7500 tax credit has been there in conjunction with the discounts from day one, so why would it change now? Just because it's a POS credit instead of a credit at tax time, they're going to remove inventory discounts? That makes zero sense, unless you have some insider information.
I guess its an assumption. Inventory discounts + 7500 POS credit makes the car soo much cheaper.
The inventory discounts are probably still gonna be here. I agree with you, I believed what he was saying for a while but yah it wouldn’t make logical sense.
Well I don’t know, but I just checked the inventory cars and they’ve gone up $5000 from what they were yesterday. So there’s that. Not sure the rational for them doing it, but it happened…
Reason why discounts will be removed.
Tesla stock price…. Down $60 last 2 weeks
Tesla bosses, or its shareholders, does not want to see more
Discounts.
Tax credits doesn’t tractor into profit margins Tesla shows to investors but inventory discounts does.
To increase profit margins Tesla must stop discounts and no better way to do it then remove inventory discounts
It’s just what Tesla employees have been communicating, it’s not my opinion, just what we have all been hearing
Im still confused about taking the tax liability & taking multiple credits. Let’s say I take 2 credits, do I still need to calculate my tax liability so that I don’t have to pay back to irs?
I’m so glad I saw your video yesterday morning before I picked up my car. I was able to make the change and take the rebate at the time up pick up. Just a heads up it did delay my pick by about 1 hour for the agreement to process in the app.
The 7500 tax credit are taken off before or after the sales taxes?
You have to pay taxes on the credit. (Darn it) The credit is treated like cash from your pocket. You can also get it in cash from the dealer.
after. you pay sales tax on the full amount.
After
Great video! Just subscribed! So are you saying that I can get the discount upon purchase immediately?
Yep!
Yep!
Can I still get a tax credit for a Tesla Model Y purchased back in June 2023?
Yes but it all depends on your taxable liability.
Yes but you have to qualify when filing your 2023 taxes and the vehicle has to be qualified also
If and when the Highland Performance model gets released, do you think it will be eligible for the $7500 POS credit ? What are your thoughts??? Thanks
Possibly. All depends on if they keep the same battery, or enhanced version of the same battery from Nevada
Any idea when they are going to accept state POS credits? In Colorado we get an extra $600 ($250 for dealer, $350 for buyer)if done POS.
Will they accept the $5,000 state incentive in Colorado at POS?
Each state is different. Your state will specify qualifications
Still dont want one. My paid off ICE vehicles will last another 10 -15 years with excellent maintenance.
If I had to pull the trigger again it now would be an ICE Accord or RAV4.
$50k is $15k too much for transportation.
Enjoy the maintenance, repairs, and gas prices for the next 10-15 years….
EV is not for everyone. Especially if you want a barebone base trim vehicle. But if you bring that RAV4 to AWD Hybrid XLE premium trim with audio tech package (so that it'll be an apple-to-apple with Tesla Y), it'll be at almost the same price.
And you throw down gas price and maintenance... all of sudden Tesla Y start to become an economy based decision.
I was like you for the last 25 years. I always bought a base trim cars with cash (like Accord DX or Camry LE). I even did a lot of maintenance myself, and kept these going for 150K+ miles. I make enough money to just go buy BMW's and Audi's, but I never felt the need. But this year, I wanted something little bit nicer for my wife who's been driving beater cars for decades. So I started to look for higher trims (like XLE's or SE's and EX-L's) and it got real expensive real quick - to a point that I was in the Acura/Lexus territory. Then saw the Model Y, thousands cheaper than Lexus NX hybrid. I also saw the news that Model Y outsold RAV4 in 2023. Data usually don't lie. So I decided to give Tesla a shot. So far, I'm very, VERY impressed.
Great🎉 news. Now where’s that model y refresh 😊.
Incoming!
Is sales tax calculated on the reduced price or the original price before the $7500 reduction? Thanks!
The sales tax is on the original price
Please check into the scenario of LEASING one of the inventory Model 3s that don't qualify for $7500 *if purchased*. Leasing removes the income qualification and battery materials and place of manufacture requirements. Caveat is that the seller is NOT obligated to pass on the $7500 and it may be a point of negotiation depending on who you are dealing with (meaning non-Tesla Legacy OEM dealerships). Where Tesla stands on this is unclear to me. Some non-Tesla dealers are calling this a "lease incentive". Source: Plug In America Jan 11th Webinar & webpage
Your video is nicely done , BTW.
Is it for sure that they will remove the inventory discount on all inventory cars with the point of sale tax credit now being in place? Or will this just depend on demand and their need to sell cars?
I picked up a Y today and I got the POS credit. The Tesla rep says that they are not getting rid of the discounted inventory bc they are trying to get rid of the existing inventory.
It’s just been said by multiple Tesla employees. At the moment, those discounts are still there. When you lock in an inventory car, the price is set
@@BeardedTeslaGuy JUST BEWARE! TESLA IS VERY SHADY RIGHT NOW. ONLINE THEY PRICED THE CAR AT 48,000 PLUS, WHEN I WENT TO THE APP TO SCHEDULE THE DELIVERY THE PRICE INCREASED TO 53,000 PLUS, WITHIN MINUTES. AND GUESS WHAT, THE $250.00 ORDER FEE IS NOT REFUNDABLE. THESE PEOPLE ARE SO GREEDY, DECEITFUL.
Reply
Already seeing that there are MY with the new color on some discounts.
I see where the tax credit applies to leases on otherwise purchase/ finance approved cars. I have read elsewhere that Tesla mucks around with the money factor and, maybe, residual to reduce the impact of the credit to the customer in favor of the lessor (Tesla).
It’s also not clear to me if/how the tax credit works on otherwise non qualifying vehicles like a Model X six seater with yoke.
In September or so Tesla finally started applying some or all of the credit to leases lowering the payment
Does anyone know if Tesla plans on adding more vehicles to the new car inventory? I was looking for a Model 3p in White but mostly grey , black and red. Any chance they will continue to add to the inventory?
Changes all the time. Throughout the day
Thank you for the detailed explanation. Great video as always. I might consider getting back into a Tesla again.
You should!
Thanks! Looks like long range Model 3 has 69 more miles than rear wheel. Cheers
It does!
Now we just need the RWD Cybertruck to launch at 60k and use this $7500 POS rebate, wouldn't that be amazing :)
Like I mentioned to you on your last video, the model Y RWD that are dealer inventory are 2023 vins, and are NOT elegible for the federal rebates. Click on one and see for yourself!
Supposed to take delivery tomorrow on a Model Y. Really hoping I get the credit at POS since I set everything up before this announcement 😬🙏🏼
Congrats!
Can you go in and change incentives? That’s where you accept it
Tesla stock will continue to suffer as base model 3 doesn't Qualify for $7500 Rebate...
Elon 🤥 closed Germany 🇩🇪 Mfg down due to Lack of Demand--- don't need red sea for shipping cars from Germany to Europe...
Revenue /Margins will be BELOW projections THIS QTR---most buyers of base Model 3 don't buy FSD or other options....
Will look to go long end of March....
Sounds good but as soon as you take delivery and drive off it deprecates $20 grand.
That's most cars these days.
Stop harshing our mellow dude.
Nah, that’s a bit steep. Depreciation has been steep with the prices of 2022, but we are pretty steady on prices now
What a set!! You should film here more often 😜
It finally happened 😅 Kinda sad that I backed out of the M3P in inventory last week that was $46k before credit, so about $39 with credit! 😮
Man…but you never know. Just keep an eye out, maybe another similar price will pop up
For the tax return option you can only claim the credit every 3 years.
Its great that industry leader is dropping prices and margin like a stone. This should force the reluctant competition to do so as well.
We need Elon to supply natural gas, electical generation and pharmaceuticals to homes so competition drives these costs down.
Competition. Thats the key to efficiency.
Certainly helps move the market
Bro are you in vegas? lmao
Yes, for CES. Had to film in my room at the MGM 😂