Author Topic: $7500 off on new Tesla Model 3 and Y until year end  (Read 586 times)

jeffrey.miller

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$7500 off on new Tesla Model 3 and Y until year end
« on: December 23, 2022, 03:45:50 AM »
Take delivery of a new Model 3 or Model Y between December 21 and 31, 2022 for a $7,500 credit and 10,000 miles of free Supercharging.

If anyone wants to jump on a 3 or Y, this is decent. 

tim.moore

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Re: $7500 off on new Tesla Model 3 and Y until year end
« Reply #1 on: December 23, 2022, 01:59:11 PM »
If that is true, it is also true for the Chevy Bolt 2022 or 2023.  Chevy Bolt 2023 EUV Premier is a fabulous car with tons of upgrades from our 2021 Chevy Bolt.  I say if that is true, because I thought the legislation started after Dec. 31 or Jan. 1 to March of 2023.  Sorry if I am out of the loop on this new legislation and what I read.

bob.kaplow

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Re: $7500 off on new Tesla Model 3 and Y until year end
« Reply #2 on: December 23, 2022, 11:58:52 PM »
How so? This is a discount being offered by Tesla, not a government rebate.

tim.moore

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Re: $7500 off on new Tesla Model 3 and Y until year end
« Reply #3 on: December 24, 2022, 02:42:55 PM »
Sorry Bob and Jeff, I thought you were referring to the government one not a private one from Tesla.  Merry and Blessed Christmas to All.

mike.scott

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Re: $7500 off on new Tesla Model 3 and Y until year end
« Reply #4 on: January 03, 2023, 08:50:55 PM »
Will the Bolt even qualify for the full tax credit?
I believe the battery and drive motor are manufactured in Korea.

jeffrey.miller

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Re: $7500 off on new Tesla Model 3 and Y until year end
« Reply #5 on: January 04, 2023, 01:36:45 AM »
To answer the question about rebates in 2023, the IRS has published guidance for the next three months.  All North America assembled vehicles will get $7500, including the Chevy Bolt.  There is a pretty good chance that Illinois residents could also get $4000 from the state, so $11500.  For best chances at the Illinois rebate you will want to buy in January.  Unfortunately the Chevy dealers have noticed an uptick in volume of calls and marked up their Bolts.  If you can get one for MSRP, then it's a good deal.  It's also worth remembering that to get the Illinois credit you have to buy from an Illinois based dealer, not out of state.   
https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-purchased-in-2023-or-after
You can expand each manufacturer and see what vehicles are listed.  Please pay attention to the MSRP.  For example, the Tesla Model Y only qualifies at $55,000 MSRP unless it's the 7 seat version.  Since you can't currently buy a new Model Y for $55,000 you have to spend an extra $3000 for the 7 seat configuration to get the $7500 from the tax credit. 

Income limits still apply, so double check that.  They have also mentioned that you can either qualify for 2022 or 2023 income, whichever is lower, which is generous of them.