Official email from Rivian offering Binding Purchase Agreement

[duessell]

Anyone with a reinstated pre-order receive any communication regarding Binding Purchase Agreement?

Not I. I have one preorder that I never canceled (R1T) and another that I canceled and reinstated (R1S) and actually another R1S reservation from a month ago (to get in line for the LFP R1S). Even after that latest reservation, I still seem to not get emails that those who didn't have a cancellation tend to get.

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[Tim-in-CA]

I wonder once delivered do you need to file an amended 2022 tax return or do you claim the tax credit in the year you receive the vehicle? Didn’t feel like reading the 20 pages of this thread in case this was already answered! Lol

 

[Husker Charlie]

I wonder once delivered do you need to file an amended 2022 tax return or do you claim the tax credit in the year you receive the vehicle? Didn’t feel like reading the 20 pages of this thread in case this was already answered! Lol

Undetermined at this point - it could be either. The Transitional Rule states, "...such taxpayer may elect (at such time, and in such form and manner, as the Secretary of the Treasury, or the Secretary’s delegate, may prescribe) to treat such vehicle having been placed in service on the day before the date of enactment of this Act." Personally, I think the IRS will let you claim it in the year of delivery just because filing an amended return creates more paperwork, and probably unnecessarily so.

 

[AZBruin]

Signed and then I got a call that my truck is ready for pickup!!!!! 2pm PDT tomorrow. I'll pick up at the Phoenix service center. Have a 190mi rt drive to a grandkid's soccer game tomorrow night so I'll get a good test of range vs the Model Y.

 

[Husker Charlie]

Signed and then I got a call that my truck is ready for pickup!!!!! 2pm PDT tomorrow. I'll pick up at the Phoenix service center. Have a 190mi rt drive to a grandkid's soccer game tomorrow night so I'll get a good test of range vs the Model Y.

Nice, congrats! I have my test drive at the Phx service center on Sat!

 

[AZBruin]

Used to work for the IRS. The tax credit is for 2022 but you won't see it until '23 when you file your return.

 

[Tim-in-CA]

Undetermined at this point - it could be either. The Transitional Rule states, "...such taxpayer may elect (at such time, and in such form and manner, as the Secretary of the Treasury, or the Secretary’s delegate, may prescribe) to treat such vehicle having been placed in service on the day before the date of enactment of this Act." Personally, I think the IRS will let you claim it in the year of delivery just because filing an amended return creates more paperwork, and probably unnecessarily so.

Thanks. My preference is to file an amended return and claim for 2022, my income situation will be less for 23, so I may not have enough tax liability.

 

[Husker Charlie]

Thanks. My preference is to file an amended return and claim for 2022, my income situation will be less for 23, so I may not have enough tax liability.

Who knows, the IRS may let you elect to do either.

 

[AZBruin]

Nice, congrats! I have my test drive at the Phx service center on Sat!

I will tell you that my test drive in Venice was perfect. The truck set up and performed exactly as I need it and felt like I had been driving it for months. Unlike the FFR Cobra in my picture that I could barely squeeze into.

 

[Friscorays]

Nothing to do with paranoia, just being cautious blindly obligating my wallet to $80,000. ...

You aren't though. You are obligating your wallet to $100 with eyes wide open, and only forfeit that if you ultimately decide not to go through with the purchase.

If the function of this is a Rivian money grab, why not make people commit to making the full $1000 deposit nonrefundable?

Suggesting that Rivian would take people to court to collect 80k plus for the crime of asking for the refundable balance of their deposit back is frankly preposterous.

 

[schalliol]

Signed and then I got a call that my truck is ready for pickup!!!!! 2pm PDT tomorrow. I'll pick up at the Phoenix service center. Have a 190mi rt drive to a grandkid's soccer game tomorrow night so I'll get a good test of range vs the Model Y.

If signed tomorrow, you might be one of the first people at T-1 day to get the credit under the transition.

 

[Husker Charlie]

I will tell you that my test drive in Venice was perfect. The truck set up and performed exactly as I need it and felt like I had been driving it for months. Unlike the FFR Cobra in my picture that I could barely squeeze into.

Coming from my '07 Sequoia with 207k miles, pretty much anything will feel like a dream... Lol

 

[emoore]

Coming from my '07 Sequoia with 207k miles, pretty much anything will feel like a dream... Lol

That’s awesome. My 240k 4Runner makes my 115k GTI feel like a luxury car. The Rivian will put both to shame.

 

[Barda]

I received the email and the option to enter a binding contract, but do I need to if my configuration is under $80k? Correct me if I’m wrong but the “old” credit and the “new” credit are for the same $7500 amount. However the new credit only applies if the vehicle is under $80k and your household income is less than $150k or $300k jointly.
There’s no harm in me entering into the binding contract (other than leaving $100 on the table if I cancel). But if I am under the household limit and my configuration is under $80k, I’m still ok right?

I just want to make sure I’m not overlooking anything. Do you guys suggest I just Bind my contract be safe? Thanks all!

 

[Zoidz]

I received the email and the option to enter a binding contract, but do I need to if my configuration is under $80k? Correct me if I’m wrong but the “old” credit and the “new” credit are for the same $7500 amount. However the new credit only applies if the vehicle is under $80k and your household income is less than $150k or $300k jointly.
There’s no harm in me entering into the binding contract (other than leaving $100 on the table if I cancel). But if I am under the household limit and my configuration is under $80k, I’m still ok right?

I just want to make sure I’m not overlooking anything. Do you guys suggest I just Bind my contract be safe? Thanks all!

Other than possibly losing $100 if you decide not to buy, there is no downside to signing. If you don’t sign, you may not get the new tax credit if Rivian cannot meet the domestic battery production % requirement.

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