Tesla Tax Credits Are BACK | Up To $40,000
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- เผยแพร่เมื่อ 29 ก.ค. 2022
- Big Tesla tax credits finally coming back, Supercharger cubes, Tesla cloud profiles coming soon, standard connectivity expiration and more!
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Forget the tax credit. They need to eliminate the car sales tax instead.
Give a man a fishing rod vs giving a man a fish
@@matthewp1682 giving them a fish vs giving them a larger fish
This tax varies by state. Where I live there no sales tax on EV vehicles
But that’s mostly state tax
Remove state tax!
Nice post as always, but it's cars made in North America, which does include Mexico & Canada. So the GM MIM cars will qualify.
there should be something in the bill language that prevents manufacturers (and especially dealers) from just tacking $$ onto the price and taking advantage of the tax credit that is purported to help consumers.
I think the dealer still gets paid the same, they are paid from the federal or state for the tax credit. From what it sounds it should benefit the customer since they are getting the discount and benefit the dealer since they are able to sell more vehicles without changing price
@@Christian.Escutia but I think he is correct in what he is saying, but I believe the bill mentions something about requiring the dealers to display the real MSRP but there is nothing preventing vendors from claiming market adjustments and then providing the tax credit to get you back to MSRP.
Dealers are charging 10-20k over MSRP for the Mustang Mach E. I'm seeing 10k over the EV6... THIS WILL CONTINUE given the structure of the current bill.
@@dnevs79 It will continue as long as consumers are willing to pay the markups. I do not want my government telling me how much I can charge for my own time at work, so I would never advocate for it to tell anyone else what they can charge. On the subject of virtual monopolies like the public utilities, I have different views, but if the car dealers want to rip off their customers and shoot themselves in the foot, I say let them.
@@MBergyman yep, unfortunately this is the big issue. Too many people rushing and accepting these high azz prices. No patience or unable to negotiate.
I also agree that dealers can pay what they want, but my point is that this just another reason to overprice vehicles
@@dnevs79 I am generally against subsidizing private industry in this way, and I agree with you that the tax credit does incentivize dealers to mark up their products, because in the end, they are pricing their products what they think consumers are willing to pay. The tax credit does not change what consumers are willing to pay, from a monthly payment point of view. If the customer was willing to pay $500/month before a tax credit was applied, they will just as willingly pay $500/month after a tax incentive is applied. It makes zero difference to the consumer.
There is still the opportunity to negotiate in the dealer-based system (as opposed to the direct sale system where there is no room), but the opportunity is less when the demand is outstripping the supply, and the salesmen know they can find a buyer at their price without too much of an issue. This is true of every market though.
They just need to do away with the tax credit. Instead of a tax credit that everyone might not qualify for, do it as a rebate. If America is serious about Americans driving electric vehicles, we need to make them affordable at the point of sale, not on a tax form.
In NJ you get $4000 “cash on the hood” at point of sale, you pay no sales tax, no property tax, no EV gas tax and you get a reduced toll rate.
@@jarid.orgeron I might have to buy purchase it there then.
Thats what this new bill does.. at point of sale instead of after filing taxes
so tax credits (tax WE ALL. PAY) means we are all paying for someone elses car...... yup, seems fair.
@@chrissasscer5995 dude 60 cents of every dollar we pay in taxes goes to defense funding which makes weapons corporations billions in profits. Yet no1 complains about how ridiculous THAT is
Ryan, Mexico qualifies as North America. Since Ford builds the Mustang-E in Mexico, and GM will build the Chevy Blazer in Mexico, they would object to your definition of North America.
Um not to be that guy or anything but Mexico is in Central America
North America is the US and Canada
I love the hidden updates too. I don't think anyone noticed that the turn signal camera no longer blocks the garage door opener.
Perfect. Planning to get my Model Y in April 2023 👏🏾
They need to create like 3 more giga factories in America to catch up on demand to drop prices. Maybe in locations to where they aren't in already.
Are those gigs free? It’s not the demand that drive prices up
silly billy, they need to quit
I can't wait to see how much Tesla raises their prices once the tax credit goes through. I wanted a Tesla so bad. But they are so damn expensive now.
Same. I thought they were going for affordable prices for the working class.
@@SMH365 they aren't going to do this when their cars are profitable. But one could argue that by raising prices that they're trying to halt demand. But they don't have enough supplies to keep up with keeping cars being cheaper
It is going to look great, I bet the model Y goes to $100,000 and the model 3 will be $75,000, then they will slip in the model 2 for less but only as demand drops
They are very expensive now, after the past year's price increases. I think a price drop is more likely than an increase, as Elon has mentioned it several times now.
Sedan credit cap is set at $55k, so unless the long range reduces price the only car that might qualify is the standard M3. Go figure.
When they say that the tax credit is implemented at the point of sale it means it will reduce the sales tax?
Hi Ryan, do you know if I ordered Tesla model 3 rear wheel but I added self drive option , it still includes for the tax credit?
Thanks Ryan for the info!
So, I've been waiting to get a Model Y for a year now and it looks like I should be getting it around Sept-Oct, so that means I won't get this new tax credit?
Thank you!
I'm hoping the model 3 longe range drops below that 55k price tag so I can get that tax credit. I'd end up getting 2k from new jersey and 7,500 from federal which is a huge help.
Plus no sales tax in NJ right? Huge
@@andrewknasiak5290 yeah right I wish!!!! New Jersey has 7% sales tax which is brutal
@@evandipasquale9255 that’s cheap. 7.75% sales tax here in Ohio
@@zettel29 ehhh .75% isn't all that much different and not a deal breaker
Even if the long range model drops below 55K, do we think that will be the base model only? Once you start adding in wheels, autopilot, and interior/paint choices, that number can jump back over the $55k pretty quickly.
Thanks for the well produced informative content. Good work!
Your channel is super informative so thanks! I just bought a model Y and its supposed to be delivered by October 31. I just watched this video talking about a tax credit at point of sale for cars sold in 2023. Would you recommend I wait until then to purchase the car?
Tesla prices will go down when other EV companies gain traction in the US market and Tesla sales decline.
Taxpayers don’t need to be in the business of subsidizing purchases of expensive cars, no matter what makes the cars go.
You might want to define your terms. An analysis of most EV's are equal or less to own and operate compared to ICE. Upfront costs are higher, but operating and maintenance are less. Not to mention the fact that nearly 3/4 of the energy in a gallon of gas does nothing to move the car forward.
Quick correction, mexico is part of north America and has participated in north American trade agreements so vehicles manufactured in mexico will be included.
Isn’t Mexico technically considered Central America? Pretty sure only US and Canada are North America
@@Bruh-wb3qw Mexico is part of the USMCA which is the current trade agreement for north America, geographically most of mexico is in north America with a small part being in central America..... Realistically the requirement for the tax credit is probably manufactured in a country included in the USMCA
It was no accident the term North America was used . Ford builds the Mach E in Mexico. Mexico is part of North America end of story
@@morganoverholt6377 ah gotcha, on that i agree with you. I looked it up and turns out Central America is a region in North America. I thought there were 3 terms for north, central, and south
@John James yes I can understand that, I'm not sure of Canada ev credit but mexico at the moment has government subsidized electricity for ev owners, but no discount on the purchase, although Tesla only sells a few hundred vehicles in mexico each week
Sooooooo.... My Cybertruck reservation? I guess we'll find out if I get the credit in 3-5 years when they finally decide to deliver...
As my wife and I share our two model Y’s based on battery charge this new feature will be awesome
Has there been any recent information on the possibility of weather radar overlay for the nav screen?
So if I already have an open order (from 3 months ago) for a SR+ model 3 which should be delivered to me on Jan 2023, will I still get the lifetime standard connectivity ?
If you placed your order on or before July 20th your standard connectivity won’t expire
Wait, oh it’s the standard connectivity that supposedly going away? I wasn’t sure what it was. Not cool.
Im holding my breathe on the tax credit. I played that waiting game all of last year and nothing ever went through
Same. Only thing that happened was prices shot up.
Yep Manchin and sinima egos
Hi For the tesla order in 2022, and will be delivered in 2023, will this qualify this coming tax rebates ?
Thank you please keep it up and stay safe
Correction, must be NORTH AMERICA so mexico and canada included for materials or assembly.
I just had the opposite issue with range estimates and was able to skip two supercharger stops on my last road trip.
Any poinTers on how to delay my delivery date. I know it changes a lot but as of today it’s mid December. Would like to receive in January to get
Tax credit
I have model y delivering next month. Will I not be able to get the credit? If so is there a way to delay the delivery then?
The increase interest rate plus price increase of the ev will probably nullify the tax rebate.
Not to mention the higher insurance.
@@YourMajesty143 Tesla insurance is about 25% allstate.
yup, taxpayer handouts for Tesla and its rich shareholders.
@@crbe2159 instead of the 5 decades of big oil "socialism" and giveaways? I'm good with it.
Does the change from lifetime to 8 year standard connectivity apply to existing owners, or only those who buy after this announcement?
Yes
yeah! they listened to us! from day 1 i told Tesla that the blindspot cam view was right in line with my right hand to get blocked from view! thank goodness...it's going to become actually more useful now!
You certainly do your research Ryan. thanks for the intel.
Will the Tesla model 3 standard range RWD qualify for tax credit according to the new bill? I heard the battery for that model is made in China so I guess it won't qualify?
I heard the same
No
If I recall the cheaper Tesla were switched to lfp battery packs that were being brought in from China and the high performanc varients are using the batteries in the US factories so this could be an issue with getting the credit.
They added this restriction exactly to block China made EVs. If you watch any EV news, you would know China not only leading in EVs, but also in EV batteries, and US cannot compete with it, just like they couldn’t compete with Huawei or Tiktok, so they use below the belt tactics.
@@lordlee6473 Every country will do what they think it's best for their country including China, US, etc.
While I’m disappointed I can’t take advantage of this tax credit, as a Marylander, I’m happy to hear Tesla insurance will be available in Maryland when my M3 is ready
Just purchased my MYP in June 2022. Does this mean I will miss out on the credit if it passes?
great info! Thanks
I wish Tesla will also include in cloud profile the software upgrades you purchased like the full self drive so you wont have to purchase it again in changing tesla cars.
Yea that’s bullshit actually the self drive should be lifetime. What if you want a new Tesla I gotta burn 8k again? Nah
I think Tesla will raise prices, not lower them.
The rationalization for raising prices is that they already have too much demand. They may as well get more profit on the cars they do sell.
With a tax credit, they'll raise the price even higher to temper demand.
I model 3 SR is not even worth the 49k price as it stands currently
2021 raptor with msrp of 65k and paid 75k... raptor r with nothing different than a v8 is 110 msrp and paying 25 over... plaid x is coming in at msrp with nothing over at 135 and the p90d was the same 2-3 years ago... other companies are far worse than tesla
I have a feeling tesla will lower the price of the LR model 3 to 55k to qualify and raise the model Y price up 3k+ compensate. Model Y are selling like hotcakes so I believe they might just raise it the full 7.5k
55k price limit already locks out all but standard range.
@@TheDeathvice187 Not to you or me, but the many folks in line to buy one disagree strongly.
so should i not get my tesla delivery set for nove-dec 2022 and just wait past jan 1st?
Is the credit available for small business instead of individuals?
WTF is up with that income cap. People in San Francisco (and similar areas) are making $200K and still living paycheck to paycheck due to high state taxes and high cost of living. 😑
Mmm, of course my model Y is supposed to be here end of this year, now I am wondering if I should delay it a couple months to get the Tax incentive?
I did just that last year and joke is on me now smh
@@davidmorrison5186 why
@@daaaaang9838 because they were ready to sign the bill which would have been in effect for 2022. So I sold my 2021 m3 for a 2022 m3. I had it on order so there was no difference in price. I also got all my money in spent on the used car back so it was like driving a car for free.
However, I did all that stuff for the tax credit that never went into effect. Now they want this one to start for 2023 purchases like wtf
Your lucky. I had to wait 3 years to get my X model. $1000 down in 2015, finally got it in 2019. Few months, ha ha, your so lucky. they had to build the Fremont factory to build my Tesla X.
@@williamwagener well that was a tad out of my price range bro lol. However my wife got her performance model Y in two days by checking the inventory. So did my co worker.
Do you know if we are going to get the Tax Credits on the Orders currently on wait and delivery is happening by the end of the year 2022?
Any idea how the sync will be done in a rental (Hertz)? This will be really nice to have (it was daunting setting up my Hertz rental - so many settings!).
I have tesla insurance and I live in California and it uses the safety score that is in beta. You mentioned California doesn’t offer it but it does. I got the insurance through the tesla app before delivery and it cost me 125 a month. The safety score can bring it down a lot if I have a score greater than 88, consistently. I only just bought the M3P and my score is at 95, so far.
Yup it then penalizes you for things you cannot control such as someone pulling out in front of you or the so call " following too close " apparently it's only "safe' if you leave 3 car lengths ahead?! WTF oh and the phantom warning of cross over lanes when you're perfectly centered..its all garbage! by the end of the day you get something like 80s and your rate go up and up on things you have absolutely no control over
$1500/yr for insurance for a mid-size sedan. Is that good for CA?
@@samshare2146 yea better than mine of $1500/6 months
@@ricegobler mines 1800/6months lol it sucks
I thought that too, but the score does not affect the insurance premium in California. You can even disable the safety score in the Insurance options found in your Tesla app. Drive as crazy as you like.
I can’t imagine Tesla not pricing their M3LR lower, and offering more for the performance to justify it’s price. I monitoring this closely I have a M3 LR preorder with delivery in November. I would happily wait if I can qualify or there is word of Tesla adjusting pricing.
When did you place your order and customizations? My estimated delivery date is in Nov-Dec for M3
i heard they were trying to produce an even cheaper model
@@StickMasterKai I placed my order early last month it says Oct to Nov 11th. I’m hoping we have finalized information on tax credits within a couple of months.
Very informative thanks!
Standard connectivity question. If I ordered a Tesla Y 7/13/22 should I still get this for life or is it based upon vehicle delivery date? ? ?
Updated EV Tax Credit is great news... BUT changing it to point of sale is a nightmare. The EV maker or Dealer will simply raise their MSRP $7500 and Tesla or others will just "pocket" the credit. This is happening now in CA with the $1,000-3,000 state EV credit that simply "vanishes" into the deal. This has happened to me twice. I would rather keep the IRS Tax credit, Dealers can't be trusted and the new Used EV credit will be even worse fraud.
vehicles manufactured in canada,mexico or the US qualify. But it seems like all tesla M3 dont qualify either because of cost or where the battery is sourced and made
I don't think that's true. Batteries can be made in our trading partner countries but the cars have to be assembled in the US.
its Biden not wanting non-union companies to be enriched. Progressivism sucks
That’s not true.
Tesla has battery manufacturing in America, and material sourcing for them in America. So they can qualify. As for price, not much can be done there unless they deliberately reduce prices. I’m not actually sure they will. The main reason they’ve raised prices are to reduce demand. Dropping them would go against that, especially for a tax credit which will further exasperate their already overwhelming demand
Tesla inc just registered for the trademark "The Greatest Car Ever." Very, very interesting. Brilliant marketing move for the entire brand.
@@thezyreick4289 m3sr LFP battery is made in china not trading partner
For the "date of purchase", if I preorder a model y now, but don't take delivery until after Jan 1st - that should qualify, right?
Can you add an reference to the source about Tesla insurance is expected to be in NJ and FL next?
My M3LR is scheduled for delivery in September/October. Sounds like I should cancel and reorder in a month so it delivers in January.
M3LR is too expensive to qualify unless Tesla drops the price (hopefully they do).
@@joeb4294 would be unfortunate to spend 65k out the door for them to lower the price. Makes buying the standard make more sense as the lower price could outweigh the lower range.
I'd still be concerned about Tesla's cheaper varients qualifying for the oncentive since I recall Tesla switching the cheaper varient vehicled to LFP battery packs from China and what does majority of the components from the USA actual mean, plus assembled in the USA. Seems like a lot of vague details right there and I'd read as much of the bill first if it gets finalised and signed into law bedore dropping the car and going into a wait list again which could get even longer if Tesla's does indeed qualify.
@@hamilton1317 would you be able to just defer delivery until January?
Nope. Tesla is all over that now since so many people tried to do that when there was supposed to be a rebate at the beginning of this year.
Since Mexico is part of North America, cars assembled in Mexico still apply. You should edit your video to reflect that
I was just thinking the same.
I think that's only for batteries. Assembly of the car has to be in the US.
wouldn't the Model 3 Standard Range (LFP) not qualify because of the battery since it's sourced from China?
In Nevada at Tesla Superchargers, they too will offer a cube with a twist... brothel!
None of Tesla's car qualify. There's a 55k price cap for regular car and the battery needs to be made in the US. The only car under 55k is the standard range model 3 but the battery is made by CATL and that's a Chinese company.
MY is categorized as an SUV, the Texas made M3 SR has Tesla 4680 batteries.
@@daninthemoon2616 texas dont make m3
@@wmoID ur right!
Tax credits just go to pad the profits of the car companies.
Given there is more demand then cars, this tax credit is not going to lower the cost.
Yep, it’s a corporate pay off. Without it a lot of the vehicles would not sell. If they did sell the profits would be severely reduced
I just placed an order for the tesla model 3 a few days ago, it’s estimated to be delivered by Nov. If I delay the delivery to beginning of 2023, and if tesla lowers their price before the delivery day, would I still be able to get the adjusted price and the new tax incentives?
Ryan, it appears Aptera was not included in the Tax credits, falling through the cracks since it is a 3 wheel vehicle. Any newer info.
Retroactive? I ordered a model three in the spring of 2021 and took delivery in October 2021 which was after Teslas rebates had expired. I did so hoping that pending legislation would have passed in 2021 and as such would have made my rebate retroactive. Does anyone know if the new legislation will include retroactive rebates for folks in my situation?
It is NOT retroactive. The way the bill is worded, it will be for people buying on or after 01/01/2023,
Anything is possible. Fourth quater sales will be affected if this stands for all ev makers as they stand. Imagine everyone from October on holding off on deliveries till January.
This is why you should only buy something if you can afford it twice
Not retroactive.
It should be but only for 1 year
Transition Rule.--Solely for purposes of the application of
section 30D of the Internal Revenue Code of 1986, in the case of a
taxpayer that--
(1) after December 31, 2021, and before the date of
enactment of this Act, purchased, or entered into a written
binding contract to purchase, a new qualified plug-in electric
drive motor vehicle (as defined in section 30D(d)(1) of the
Internal Revenue Code of 1986, as in effect on the day before
the date of enactment of this Act), and
(2) placed such vehicle in service on or after the date of
enactment of this Act,
Heard that the battery composition for the standard Model 3 would disqualify it, even though it meets the price limit.
I have been seeing this as well, however no one knows for sure. Has anyone found a definitive source?
As it currently stands, the RWD qualifies for half.
What I've heard, To qualify for the the full 7500 the battery comp matters, but battery wont affect the first 4k.
@@WorkerBee2011 half the tax credit depends on where the battery is assembled, which I’ve been hearing is China. And then the other half of the credit depends on where tesla gets the minerals for the battery itself, which again I’ve heard the rwd model 3 wouldn’t qualify for either or
55k limit on msrp might be exceeded on some model 3's model y limit at 80k top end model may exceed that to .
Will the semi truck have sentry mode and auto pilot?
live in southern Maine... its painful to get service . Hour half drive to Boston and good luck getting an appointment within weeks... live in southern Florida.(snowbird). repeat repeat. You can't keep breaking records in sales without adding more service centers !
I found that used Tesla wouldn't qualify for the used tax credit in which "The maximum price of a qualifying used EV is $25,000 and it has to be at least two years old. " Since many of the used Tesla are 50k and above you would better off purchasing a new and getting the $7,500 assuming prices go down on Tesla cars. I think the prices for the vehicles will go down and make it easier to purchase. If they can get their battery situation handle.
Wouldnt it make sense to keep prices the same, as they have no problem selling them, and just create a brand new car from the ground up for 30k?
@@Buggabones I agree but I doubt they will make a brand-new car by 2023.
If the bill passes you can expect prices to go up nearly as much as the bill allows for a discount at the point of sale. It’s free money for Tesla since the demand exists and people buy these cars regardless of what the company does against the consumers.
I dont think Tesla is that kind of company.
@@smileandlaughs well, actually they are. They make great products, but anything else seems to fall short compare to many companies, e.g. services
@@smileandlaughs We bought our Model 3 at the tail end of 2019 when the 'credit' was $1,850.
Not long after 2020 began when the credit ended the price dropped a coincidentally similar amount.
Only an idiot would think you can promise a consumer X amount for every purchase they make and not think the provider of that product will fail to include a somewhat commensurate increase in the price.
The politicians are not idiots and they do indeed know this as well, even if they pretend otherwise.
They do it this way because it allows them to launder taxpayer monies to their favored campaign donors while appearing as though they are giving the consumer a break.
@@smileandlaughs Wait and see. I really hope I’m wrong because the benefit to the consumer would be massive but with Tesla amidst expansion and scaling they need all the cash they can get their hands on.
@@smileandlaughs lol, what? Nothing in their history supports this.
Is it a tax “Credit” or “Rebate” because the wording implies a credit, however I remember the EV reform bill was to convert the Credits to Rebates.
Also when EXACTLY does the “Point of Sale” apply?
For vehicles manufactured for each customer (Tesla), does the PoS credit apply when ordered or when final payment is made? I ordered a Tesla Model 3 SR+ a month ago and delivery is set for late December/Early January. Depending on when the Tax credit is applied, I will or will not qualify.
What about Hybrid? like Jeep 4xe?
If you buy one today, and the delivery is after the credits roll out, will you still apply? Or would you need to order the car when the credits are announced
It's based in delivery date because that is when you actually purchase it.
Yes, it would apply to the date you pick up the vehicle, because that is when you actually purchase it
I'm so confused by the rationale for the $55/80K cap. Why exclude the M3P, at today's prices, but cover all model Y's? Why push people to the larger vehicles if efficiency and greenhouse gas reduction is the goal? I'd like to see the bill cover anything under $45k and let anyone that thinks they need more or can afford more go ahead and pay for the whole thing themselves (Which I just did on a model 3 performance in June). It's like all those Hummer H2's that sold to real estate agents because they were a write off under some farm bill for "private business owners"... never a thought to getting off this larger, heavier, less efficient trend.
Because the people who wrote the bills want to own big SUV.
Thes high priced vehicles getting incentives on just crazy 🤪 should cap to under $30k
I honestly think that our Congress peeps know nothing about current market prices and just throwing these numbers out there.
Unfortunately this still benefits the people that can afford vehicles vs those that are struggling.
I just think the credit should be income based.
The bill was not written only for Teslas there are other brand that qualify..
@@happyhippo1710 I understand that but with all the markups from dealerships, it is a challenge. I looked at an EV6 and it was 58k because of markup. 🤦♂️
I received $4500 from California clean vehicle rebate plus an additional $7500 when I filled my taxes! Tell me what other car can give $12k in rebates 🥳
Regarding the positioning of the blind spot monitoring display I am wondering if additional options could be available for the model S and X to allow this to display in the screen above the yoke. I have always thought that for the S and X the image displayed when using the turn signals would be more user friendly if they displayed at the left or right side of the drivers screen. The driver wouldn’t have to turn their head to see the image.
I hope all versions of the model 3 can somehow qualify, I ordered my M3P and boy is my wallet shaking
Hard cap is 55k, the m3p is way more expenaive than 55k
@@wwecrazy213 Way more being $7k?
Im amazed by how many are willing to fork anything over $30k for a Tesla that holds a limited battery charge. Do I own Tesla stock, absolutely, but these prices are asinine.
Tesla inc just registered for the trademark "The Greatest Car Ever." Very, very interesting. Brilliant marketing move for the entire brand.
But it’s not. These cars are riddled with problems. Mine is. Oy
The tax credit it’s already a real thing? Or it’s still pending for approval? I placed my Tesla model y just one month ago, I’m thinking on waiting if this is a real thing
Another terrific vid Ryan. Best Tesla KPM (knowledge per minute) on TH-cam. Have you heard anything if the credits will be retroactive for those of us who purchased in 2021 come tax time?
I see that nobody has learned from the last couple of years when it comes to these bills. IF any of this passes it won't be the same and will get gutted into nothingness and it will take at least 2 to 3 years of back and forth before it gets passed
So Tesla has been creeping up their prices so that by the time this takes effect, it will cost the car buyer the same as it was before Tesla put the prices up...
Runaway inflation will do that.
Hahahaha smart!!
So what’s your point?
@@MrShiggitty All of Teslas commodities are set up on multi-year contracts years into the future. They are using current inflation as an excuse to raise prices for future inflation that is yet to be determined. No one can no the future and what if inflation doesn't happen as predicted?
I doubt do to the language of the bill Tesla will qualify for the tax rebate anyways due to the China made LFP battery packs.
Yes, thank Joe Biden for that kne
So although the MSRP for a used Model S is higher than what would qualify it, it still qualifies for $4,000 if it’s used, even if higher than the cap?
So, if I don't pay taxes, do I have to pay back the point of sale deduction on the following April 15th?
If the price cap is an issue Tesla could offer range limited versions but with the normal size battery pack to get the "purchase" price under the cap. Then just offer an upgrade after the sale to unlock the entire range of the pack.
They did this in Canada! :)
So I ordered my tesla 3 base in June and it is scheduled to arrive in November 2022... should I try to reject delivery's upon inspection until my model 3 arrives after January 1st 2023? To get the 7,500?
Odd isn't it? It is like the government is telling us to NOT buy an EV in 2022.
No it should be retroactive for 2022, i think you just need to claim the credit on your taxes rather than it being applied at purchase starting 2023
l) Transition Rule.--Solely for purposes of the application of
section 30D of the Internal Revenue Code of 1986, in the case of a
taxpayer that--
(1) after December 31, 2021, and before the date of
enactment of this Act, purchased, or entered into a written
binding contract to purchase, a new qualified plug-in electric
drive motor vehicle (as defined in section 30D(d)(1) of the
Internal Revenue Code of 1986, as in effect on the day before
the date of enactment of this Act), and
(2) placed such vehicle in service on or after the date of
enactment of this Act,
The bill may change again but I believe that it currently says that cars made/assembled in Mexico and Canada will also be eligible for the rebate.
The "US" manufactured components requirement also phases in over several years, but what isn't clear is whether components made in Canada and Mexico will also be included.
Canada and Mexico are both in North America. So cars built there will qualify. I so we will be helping fund the labor of Canada and Mexico. This bill is a bunch of crap. Tesla doesn’t need it. They have too much demand now. This is for the old ice vehicle car makers. I wish the government would quit spending my money.
Ryan, my model 3 used to adjust the seat and other features when I opened up the car door. Now it doesn’t adjust for me and stays in the profile of my wife, who is three foot smaller than me. Is there an option I can choose where it adjusts once I walk up to the car versus staying in the seat position for my wife ? Great video as always 👍👍
Do you have Easy Entry on? Worst case you can set Easy Entry to a far back setting so every time its put in Park it goes to that setting. Maybe someone will have a better answer but just my suggestion.
Now keys (phones fobs or keycards) are associated with a driver’s profile. Make sure your “key” is associated to your profile and not the one for your wife.
@@ahmadalkilani will check thanks. We each have are own key card, but maybe they go switched
Key word, “Dealer”. 16. Dealer can apply credit at time of sale. Tesla doesn’t have, “dealers”…thus no dealer applied tax credit.
Yes. I was also wondering about that language.
Curious about how a $7500 tax credit would work at point of sale. It's still a credit, not a rebate.
It will be a big issue. Everyone buying an EV will want the credit whether they qualify or not. It will be an administrative nightmare for Tesla and dealers alike. Big opportunity for fraud. Should keep it a tax credit like the current law.
David Lebron - Just do your taxes then subtract the $7,500 as an EV Tax Credit. If you paid more than $7,500 in federal taxes then you’ll get the full $7,500.
@It's not looking good what do you mean 20k back
@@nevrock1 no its at time of purchase. Like cash off the top.used as downpayment.
@@pinball16 yea, the new one that hasn’t be voted on yet, but the current one is a tax credit.
3:02 little tip for everyone. What about an instrument cluster
Will my MY purchase in 2022 be eligible for the credit when I file end of year?
I’m trying to understand why the vehicle price limit for the proposed tax credit is $55K for the car, whereas it’s $80K for a truck / SUV; $55K should be more like $70k.
Also, there’s already an income limit in place, so why also have a limit in place for the price of the vehicle?
If the government truly wants to transition to clean energy swiftly, there needs to be less restrictions and emphasis on ensuring that the wealthy are not taking advantage of the system as they will ultimately be the consumers who likely purchase new EV cars and flood the market with used ones, thereby increasing accessibility to the middle class and lower income Americans.
The point is to try and funnel money to those favorable to the people writing the bill (Big three) and to leave out those that the people writing the bill disfavor (Tesla in particular).
Its not to drive EV adoption.
Political solutions are always about perpetuating racketeering while appearing on the surface to be something entirely benign and/or beneficial.
Right this was my point exactly. Someone that can afford an $80k SUV DOES NOT need a $7500 tax credit. The average automobile in the US is probably around $25-30k so either cap the EV price just above that to make them competitive or significantly increase the tax credit to something like $15k to bring EV prices in line with ICE cars. The current proposal will do nothing to increase adoption. It will just make it cheaper for upper middle class and rich people to buy the cars the probably would have already bought.
Lol. Battery ain’t green.
@@youdontknowme2915 You do what you have to do. If you can't afford new, hand-me-downs will have to do. I can't afford new, so I buy used.
@@youdontknowme2915 It is but you get what you pay for too. Chevy Bolts sell less than 30k vehicles per year for a reason. Not saying they are junk but they are obviously not that appealing either or their sales would be much higher.
It’s a bad move to give more EV tax credits at this point. There’s a supply constraint… not a demand constraint.
That’s getting negated with more competition on the market now. Plus with inflation ppl need to be cut a break
What about if u bought a Tesla model 3 in 2020 will I get a tax credit?
I’m about to take delivery of a Model 3 so that sucks the tax credit may start 1/1/23.
I wonder if Tesla will add the blind spot warning system. I miss that specially when backing up and you can't see people or car right away
Can't you see it with one of the Tesla's cameras?
Maybe you should turn your head and look
@@carrickgames 😁
it already does that it will yell at you if youre backing up and theres a car/pedestrian coming behind you
What?!? There is a GIANT ~17” screen filled with L & R and center video
BMW already has a driver’s profile in the cloud that can be shared between vehicles🤪🤪
Who tf proud of a BMW 😂🤡
Will
These tax credits be retro active. I’m
Buying a car in October
if i delay my delivery to next year will i get the 7500 off at delivery even if i ordered this year?
Honda: we want to go full ev
Also honda:only sells their EVs in europe
Hopefully it’s back dated that would help, by the way I’m delaying my financing until January so I can get the tax credit, I ordered a model Y before the price went up two times this year…
The bill said if you delay your order, you won't qualify. Maybe cancel and reorder, but that will loss place in line.
I also have a MY 7 seater on order and estimated delivery is November 2022 - Jan 2023.
@@SirZeusor11 The $7,500 Credit comes off the price of the car from the dealer.
Wouldn't it just come out to be the same? Unless it's near the end of the year Tesla won't let you delay it for too long and you'll have to buy it at a new price.
@@SirZeusor11 this new bill is "different" from previous bill. You get the incentive off the price, regardless of your tax liability.
reply back to this when you actually own one, ill wait...and prove it,
We bought a used Model S this year. I wish the credits could be retroactive! :)
But when we can get a Driver Profile added to a scheduled departure? I have diff settings for my seat depending on when I have kids in their car seats !