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riviansmoke

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Queue Tesla Model Y and Ford Mach-E price increases (after previously dropping them to comply with former categorization).
Yup, fully expecting it. I’m seriously considering buying a Model Y since my wait for the Rivian is looking like it could be another year or so. If they increase the prices again, I’ll probably hold off though as I’d much rather have the R1T.
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EVnewb

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Yup, fully expecting it. I’m seriously considering buying a Model Y since my wait for the Rivian is looking like it could be another year or so. If they increase the prices again, I’ll probably hold off though as I’d much rather have the R1T.
Now is probably the best time to buy one after the price drop and with the tax break. Although the tax break wouldn’t be a big deal if you get your R1 this year. But you’d probably be better off with the trade-in/resale value when it comes time than some of us poor saps who bought one as a placeholder within the last year haha. 😅 We got lucky though and really love ours so I highly recommend it if you are able to ignore the Musk side of the company.
 

riviansmoke

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Now is probably the best time to buy one after the price drop and with the tax break. Although the tax break wouldn’t be a big deal if you get your R1 this year. But you’d probably be better off with the trade-in/resale value when it comes time than some of us poor saps who bought one as a placeholder within the last year haha. 😅 We got lucky though and really love ours so I highly recommend it if you are able to ignore the Musk side of the company.
Yes I feel for everyone that bought one before the drastic price drops over the past couple of months. I admit it's hard to ignore the Musk factor which has kept me from getting one up until now, but it's also a decent option with today's pricing. It may not be a placeholder depending on how quickly values drop, which is a big concern.
 

Lil'Dave

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Right on que...Model Y price just went up $1500 lol
 

RivianNowPlz

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Right on que...Model Y price just went up $1500 lol
They increased the MY price last week due to overwhelming demand that outpaces production. Their massive price cuts did exactly as intended.. bring the high margin extended customer base Tesla models into the front of everyone’s minds. This tax credit play is just extra incentive to get a MY over virtually any of its competitors.
 

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manitou202

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They increased the MY price last week due to overwhelming demand that outpaces production. Their massive price cuts did exactly as intended.. bring the high margin extended customer base Tesla models into the front of everyone’s minds. This tax credit play is just extra incentive to get a MY over virtually any of its competitors.
But if dealers charge a markup because demand outpaces production, then it's a crime.
 

RivianNowPlz

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But if dealers charge a markup because demand outpaces production, then it's a crime.
I paid ADM for my Raptor, I’ll pay ADM for my R that’s set to arrive next month. That said, these are two separate items.. in either scenario with Tesla the end customer was paying MSRP with the only caveat being a wait time.. in the dealer situation you had to fight over multiple dealers in and out of your state that charged different price points for the same or lesser vehicles and it changed based on the customer and how they negotiated among many other factors. With Tesla there is no negotiation, you pay msrp or you don’t.
 

Donald Stanfield

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But if dealers charge a markup because demand outpaces production, then it's a crime.
Dealer didn’t make the car and they have nothing to do with the demand. When a company makes that profit off of the thing they made that means they can innovate and they will still be around to support my vehicle.

Dealers add little to nothing of value to the purchase so taking an extra cut is bullshit. A manufacturer absolutely should set their prices to match the demand for their products. It’s the difference between a manufacturer raising the price of hand wipes during the pandemic and some asshole buying out the entire store’s worth just to sell them on Amazon for triple The price.
 

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Not a CPA, but my interpretation of the new law is that if you want the old credit for a 2023 delivery you would file an extension or amendment for your 2022 taxes and then file to claim the credit for 2022 tax year after you take delivery.

The vehicle is treated as having been placed in service in August 2022. So it would go on your 2022 taxes.
This is also what I previously thought, but the remarks of several CPAs and tax attorneys on a similar thread in the other Rivian forum disabused of me of the notion. My takeaway from their remarks is that the PBA is essentially worthless.

In terms of preserving your ability to take advantage of the pre-IRA EV tax credits that have no purchase limits, income thresholds and sourcing requirements, it would appear that what @SANZC02 posted earlier is largely correct. The deadline may be March rather than January however; that is when the IRS will issue its guidance relative to the new tax laws.
 

protamine

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Purchase date vs. delivery date
If you entered a written binding contract to buy a vehicle before August 16, 2022, but took possession on or after August 16, 2022, and before January 1, 2023, you may claim the credit based on the prior rules and disregard the assembly requirement.

If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don't take delivery of the vehicle until 2023, see Credit for New Clean Vehicles Purchased in 2023 and After.

....2023 Page

Who Qualifies
You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032.

The credit is available to individuals and their businesses.

To qualify, you must:

  • Buy it for your own use, not for resale
  • Use it primarily in the U.S.
In addition, your modified adjusted gross income (AGI) may not exceed:

  • $300,000 for married couples filing jointly
  • $225,000 for heads of households
  • $150,000 for all other filers
------------------------------------------

so us >300k ers that just missed delivery before 1/1/23 lose $7500
 

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Forager

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I may just squeak in the limit since it is based on MAGI. Ironically, my family was well under this limit when we put in our reservation two years ago.
 

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so us >300k ers that just missed delivery before 1/1/23 lose $7500
People making $300,000 do not need tax payers to help subsidize their purchases.

They can pull themselves up by the bootstraps and earn the $7500 if that will make or break the sale.

Truly sounds like first world problems.

The system is working as intended.
 

protamine

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People making $300,000 do not need tax payers to help subsidize their purchases.

They can pull themselves up by the bootstraps and earn the $7500 if that will make or break the sale.

Truly sounds like first world problems.

The system is working as intended.

Lol. My vehicle cost $7500 more because it was 17 days later due to vote pandering. If you really want to stimulate an industry why cap it out? Arbitrary lines in the sand. Has nothing to do with making or breaking the sale. And the taxpayer subsidizing the purchase is myself, chief.
 

MidnightRivian

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Lol. My vehicle cost $7500 more because it was 17 days later due to vote pandering. If you really want to stimulate an industry why cap it out? Arbitrary lines in the sand. Has nothing to do with making or breaking the sale. And the taxpayer subsidizing the purchase is myself, chief.

so you're telling me a taxpayer should subsidize a billionaires EV purchase?

get the heck out with that nonsensical BS just so you can try to weasel a $7500 credit for yourself.

Price caps are there for a reason, income caps are there for a reason.

$150,000 per person is enough for you to make your own purchases without looking for handouts from others.
 

opnwide

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Arbitrary lines in the sand.
I largely agree as it makes no sense for a MFJ couple making $299k to get $7.5k and couple making $301k gets zero. That de-incentivizes working in December if you’re close. Should be a phased out credit, i.e. 75%, 50%, 25%, 0% for income ranges and the like.
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