POLL: Will not getting the Federal Tax Credit change your plans

Will not getting the Federal Tax Credit change your plans?

  • No, will still order first available

    Votes: 116 45.1%
  • No, already planned to wait for other version

    Votes: 34 13.2%
  • Yes, will wait for Standard Range or non PUP version

    Votes: 44 17.1%
  • Yes, will wait for Dual or Performance version

    Votes: 23 8.9%
  • Yes, will cancel and get another EV before 12/31/17

    Votes: 4 1.6%
  • Yes, will cancel and get an ICE vehicle

    Votes: 10 3.9%
  • Yes, will cancel and don't need a replacement vehicle

    Votes: 15 5.8%
  • I'm outside the US, but want to be included in voting too!

    Votes: 11 4.3%

  • Total voters
    257
  • Poll closed .

Dr. J

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#61
The possibility of a Texas EV rebate of $2,500 available in the spring of 2018 may cause a few more Model 3 reservationists to wait a little bit. Good for everyone else, and good for us Texans (maybe)! I have no information on what the effective date of the rebate program will be, but my guess is shortly after the TCEQ votes on the matter in the spring.
 

NRG4All

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#62
Agree...

It will also be curious how many people who do not follow every bit of news will not be aware at the time they put in their orders though and the screaming we hear a year+ from now when they can't figure out how to get the credit that no longer exists.
Because it is a tax credit rather than a deduction, I would think that whomever signs up thinking they will get the credit will have enough money to take delivery of the car. That may mean that fewer people will forego the car than if it were a deduction.
 

JWardell

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#63
My answer to the poll question is maybe.

I want this car as soon as humanly possible, but the $9k for extended battery that I don't really need was a huge shock and puts the car well beyond the budget of any other car I've ever bought.
The tax credit helped me mentally accept the exorbitant cost especially if waiting for standard meant getting less credit.
However with the delays, it is possible that by the time ordering gets around to me, for all I know standard will also be available.
So, if when my opportunity to order comes up, and both LR and standard are a available, with no tax credit I will order standard; with credit I might get long range.
But I would still worry that they will retroactively chance the law again and remove it.
Just like Elon consistently surprises us with ideas that we never imagine, this administration similarly surprises me with actions that were unfathomable. I can't depend on getting the rebate even if is still around when I get my car.
 

MelindaV

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#64
I can't depend on getting the rebate tax credit even if is still around when I get my car.
and this is why I would not follow @SoFlaModel3's advice to adjust your withholdings to take advantage of expected credits coming on the following year's tax filing. I'd much rather be happily finding myself with an extra $7500 than short that much when doing taxes.
 

Prodigal Son

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#66
I'd much rather be happily finding myself with an extra $7500 than short that much when doing taxes.
…and this is why, even if the EV credit goes away, I will take solace in the near-certain removal (house) or adjustment (senate) of the AMT laws. If I hadn't done due diligence to make sure I *really* understood the implications of exercising stock options at work I would be a matter of weeks away from a very, VERY unpleasant surprise (yes, I'm one of those weirdos who does taxes the moment he has all the necessary forms). Fortunately I know it's coming and I'm prepared but man our tax system is broken. I don't know if what's coming down the pipe is the end all be all of fixes, but there are certainly some nice things to say about it.
 

SoFlaModel3

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#67
and this is why I would not follow @SoFlaModel3's advice to adjust your withholdings to take advantage of expected credits coming on the following year's tax filing. I'd much rather be happily finding myself with an extra $7500 than short that much when doing taxes.
Yes, sadly, while adjusting withholding was good advice in the previous climate, now it is a risk not worth taking.
I agree with you both. My advice was only good advice when the credit was a sure thing. At this point I wouldn’t take my old advice and I would just be excited to suddenly see $7,500 when I file my taxes in 2019.
 

tivoboy

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#68
Yes, sadly, while adjusting withholding was good advice in the previous climate, now it is a risk not worth taking.
One can make adjustments to withholding whenever you like. I doubt that the credit will expire or be eliminated for vehicles delivered and put into service for 2017, so that should be fine for now. For 2018, we should know in a few weeks. If one does reduce withholding, just save the extra money if one is really concerned that something will disappear randomly and at any time and retroactively.
 

Ip Man

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#69
This poll has already been done and it is 23% on that poll of 1000 people who do have a current reservation.
23% said they will cancel it.
 

Uricasha

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#70
Keep in mind that this poll is skewed towards people who choose to get the first version. (Normal people who aren’t fanboys wouldn’t be on this forum?)

Kinda like taking a political pole on MSNBC or FOX :)
 
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#71
The real intendit purpose of the federal tax credit was to help develop the electric vehicle market. When you have 450,000 TM3 reservation I would have to say mission accomplished. It's not the government purpose to help pay for new car. This money comes from other peoples hard earned income. It's a gift not a right. When it comes to the tax credit a lot of people don't earn enough to take full advanage of the tax credit. Most people that can afford a new model X or S have high enough income leves to use the tax credit. The model 3 at its lower price point has attracted lower income earners.
 

McHoffa

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#72
This money comes from other peoples hard earned income. It's a gift not a right. When it comes to the tax credit a lot of people don't earn enough to take full advanage of the tax credit. Most people that can afford a new model X or S have high enough income leves to use the tax credit. The model 3 at its lower price point has attracted lower income earners
That’s incorrect. This is a credit that only gives back money you pay in, not anyone else’s money. If I get the credit I only get my own tax money back. I can’t get anything back if I didn’t owe anything.

I’ll be buying the Model 3 on my lower income yet somehow I still owe $7500+ in taxes per year (and I still claim two kids).

In many cases if you don’t owe $7500 you probably can’t really afford a Model 3 (unless the reason you don’t owe that much is because you have losses or write offs)
 

SoFlaModel3

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#74
I would say no or at least not quite to both of these.

The real intendit purpose of the federal tax credit was to help develop the electric vehicle market. When you have 450,000 TM3 reservation I would have to say mission accomplished. It's not the government purpose to help pay for new car. This money comes from other peoples hard earned income. It's a gift not a right. When it comes to the tax credit a lot of people don't earn enough to take full advanage of the tax credit. Most people that can afford a new model X or S have high enough income leves to use the tax credit. The model 3 at its lower price point has attracted lower income earners.
First, if this was the case then we should probably stop helping oil... right?

Second, it’s bigger than Tesla. We need the other EVs to be compelling and I fear outside of those dedicated to the cause, other EVs are not compelling on their own without the credit. Tesla is ok (at least for now) either way, but the others won’t sell many EVs without it.

That’s incorrect. This is a credit that only gives back money you pay in, not anyone else’s money. If I get the credit I only get my own tax money back. I can’t get anything back if I didn’t owe anything.

I’ll be buying the Model 3 on my lower income yet somehow I still owe $7500+ in taxes per year (and I still claim two kids).

In many cases if you don’t owe $7500 you probably can’t really afford a Model 3 (unless the reason you don’t owe that much is because you have losses or write offs)
Also not quite here. If I get back the credit of $7,500 sure it’s my own tax money coming back to me but you paid for that to happen as did everyone else because that money isn’t going somewhere else. You lost a “service” that you could have otherwise had and/or your taxes could have been further reduced had I not received a tax credit. Of course the intrinsic value of helping consumers do the right thing and stimulating the economy isn’t factored in there.
 
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#75
I'm not sure what I'll do (Delivery est. is Jan-Mar) - current lease is not up in Nov 18 and was planning on first production to get the Tax breaks (and out of excitement to get early). It ticks all the boxes except AWD which I wouldn't mind for winter drives up to the snow.

I also found out today that the California Tax rebate might be in limbo - apparently running dry on funds and for some individuals income limited. A colleague applied 6 months ago and is still waiting.

Does anyone know if they select "hold my spot" and Tesla is still struggling with deliveries in mid-summer, could one go back and order the original LR? or we then bound to the timeline of the SR or AWD that we clicked "hold my spot for" I don't want to risk being without a car when the lease is up.
 

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#76
I'm not sure what I'll do (Delivery est. is Jan-Mar) - current lease is not up in Nov 18 and was planning on first production to get the Tax breaks (and out of excitement to get early). It ticks all the boxes except AWD which I wouldn't mind for winter drives up to the snow.

I also found out today that the California Tax rebate might be in limbo - apparently running dry on funds and for some individuals income limited. A colleague applied 6 months ago and is still waiting.

Does anyone know if they select "hold my spot" and Tesla is still struggling with deliveries in mid-summer, could one go back and order the original LR? or we then bound to the timeline of the SR or AWD that we clicked "hold my spot for" I don't want to risk being without a car when the lease is up.
Based on the reports of those lucky few who have received invites, you can go back and order any time.
 
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#77
Based on the reports of those lucky few who have received invites, you can go back and order any time.
That would be pretty ideal if that is in fact the case as I could then time my order mid summer or based on tax credit expiry - if it stands with the best available options at that time. This is off course assumes I get my invite in Q1 as estimated on the Tesla Webpage.

It is a risk nonetheless though as who know's what delivery and lead times might be like down the road especially if lots of people end up deferring their delivery and jump on the SR or AWD when they come available.
 

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#78
I'm not sure what I'll do (Delivery est. is Jan-Mar) - current lease is not up in Nov 18 and was planning on first production to get the Tax breaks (and out of excitement to get early). It ticks all the boxes except AWD which I wouldn't mind for winter drives up to the snow.

I also found out today that the California Tax rebate might be in limbo - apparently running dry on funds and for some individuals income limited. A colleague applied 6 months ago and is still waiting.

Does anyone know if they select "hold my spot" and Tesla is still struggling with deliveries in mid-summer, could one go back and order the original LR? or we then bound to the timeline of the SR or AWD that we clicked "hold my spot for" I don't want to risk being without a car when the lease is up.
The California rebate is back on track and funded through 2018. Previously everyone was on a waitlist but they’ve started processing the backlog as of Nov. 22nd. You should advise your friend to check their application on the site. Annual income limits are imposed and is capped at 300k for couples and 150k for individuals.
 

garsh

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#80
Before we found out about "First Production" configuration, I was under the impression that the first cars would be fully-optioned, dual-motor performance cars. I had planned to get one of those. I decided that this would just be my mid-life-crisis car. And the $7500 federal incentive would help ease the blow.

When we found out what "First Production" would be, I decided to stay with that. First, the option prices ended up being much higher than we were expecting, and once again I figured that the $7500 federal incentive would help ease the blow.

But if it looks like I won't get the tax credit, I'm *considering* switching to dual-motor - getting something closer to a fully-optioned model. But the wife has already decided that we must get rid of the minivan *soon*. So if I go with that plan, then I need to get another new car sooner. So... I've started to look for a used Model S. I think CPOs are going to be too expensive for me - I'm thinking more like a 2013 model, with the huge frunk they had before adding dual motors. If anybody can recommend the best way to find an older used Model S, please let me know. :)