Any R1S Ocean Coast Delivery Yet?

[CoachBatch]

No the $2k is because the FE interior has always had a $2k upcharge. The OC interior for price-protected orders has no upcharge.

Some people are flexible with what they will take. I am not - I decided years ago what color and what interior I wanted, and for once in my life I wanted to have my first choice with car interior/exterior color instead of settling for what was "on the lot".

I had to wait an extra ~4 months for my OC R1T, and I am now perfectly happy because I got what I wanted. Naturally my advice is that you already made your choice, so wait for that choice. It's only a few months more.

I was just saying that about the $2K cause both FE and OC are great choices.

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[EarlyAdptr]

Thanks. I am under last year's rule - I paid the extra 100 to make a earnest payment on a binding contract in 2022. I believe the net you refer to is 7.5k tax benefit nets to 5k somehow.

In theory I would not be eligible for 2023 credit under the different requirements they tagged onto it.

Do your own due diligence, but I've read a LOT on this topic of tax credits (great thread on this forum as well as IRS website). Short summary:
1) Once it became 2023 - the binding purchase agreement became worthless, a non-factor
2) Until the Treasury Dept publishes the final rules on vehicle component levels, the 2022 Tax Rebate ($7,500) is available provided your vehicle not exceed $80k in MSRP and you don't exceed the income levels last year or this year (2022 / 2023).
3) Once the Treasury Dept does publish final rules (sometimes in March this year) - then who knows. We should at least be eligible for a portion (1/2 I think??) of the credit - but maybe that's it.


Others can chime in, but I didn't want you operating under correct assumptions.

 

[DB-EV]

Do your own due diligence, but I've read a LOT on this topic of tax credits (great thread on this forum as well as IRS website). Short summary:
1) Once it became 2023 - the binding purchase agreement became worthless, a non-factor
2) Until the Treasury Dept publishes the final rules on vehicle component levels, the 2022 Tax Rebate ($7,500) is available provided your vehicle not exceed $80k in MSRP and you don't exceed the income levels last year or this year (2022 / 2023).
3) Once the Treasury Dept does publish final rules (sometimes in March this year) - then who knows. We should at least be eligible for a portion (1/2 I think??) of the credit - but maybe that's it.


Others can chime in, but I didn't want you operating under correct assumptions.

Thanks will check. I believe at the end of the legislative wrangling, the bill that became a law included a short window that basically presented an option - if within x period you entered into a binding contract, then the law in effect at that time (i.e. old rule) applied; if not, new rule applied.

I will of course check in with a tax pro before trying to claim anything. I am conservative on my tax filings.

 

[SASSquatch]

Thanks will check. I believe at the end of the legislative wrangling, the bill that became a law included a short window that basically presented an option - if within x period you entered into a binding contract, then the law in effect at that time (i.e. old rule) applied; if not, new rule applied.

I will of course check in with a tax pro before trying to claim anything. I am conservative on my tax filings.

As long as you went into a binding agreement to purchase a vehicle - the fact that we are now in 2023 doesn't change anything. You will be able to claim the credit under the old rules against your 2023 taxes (that you file in 2024) assuming you take delivery in 2023.

 

[SASSquatch]

As long as you went into a binding agreement to purchase a vehicle - the fact that we are now in 2023 doesn't change anything. You will be able to claim the credit under the old rules against your 2023 taxes (that you file in 2024) assuming you take delivery in 2023.

Edit: Actually, per the new IRS guidance, and the thread in the forum discussing the tax incentive, the jury is still out. It appears the IRS has released new guidance that has caused confusion because they specifically don't address signing a binding purchase agreement prior to August 16th and taking delivery sometime after January 1st 2023.

 

[CoachBatch]

Just got my confirm config .... OC on deck!

 

[DB-EV]

Just got my confirm config .... OC on deck!

Please tell Coach - Ocean Coast?

 

[DB-EV]

Edit: Actually, per the new IRS guidance, and the thread in the forum discussing the tax incentive, the jury is still out. It appears the IRS has released new guidance that has caused confusion because they specifically don't address signing a binding purchase agreement prior to August 16th and taking delivery sometime after January 1st 2023.

The law is the law. The IRS gets a certain level of deference, but they do not control.

 

[Jac]

The law is the law. The IRS gets a certain level of deference, but they do not control.

The new EV tax credit law‘s domestic assembly requirement went into effect immediately last August. The IRS has already made clear binding purchase agreements signed before the new credit became law only will circumvent the domestic assembly requirement if you took delivery by the end of 2022. Otherwise, the new EV credit rules apply.

Some folks hold out hope the IRS will say those binding purchase agreements will work for delivered vehicles in 2023 to bypass the other three new EV tax credit law’s provisions that become effective in 2023 (MSRP cap, income cap, battery sourcing) — even though foreign assembled vehicle purchase agreements were disallowed for deliveries after 2022.

 

[electruck]

The law is the law. The IRS gets a certain level of deference, but they do not control.

The law is the law which means it is completely unambiguous. Right? That's why we have lawyers and an entire judicial system to (in part) interpret the intent of laws. In this case, the IRS will attempt to provide implementation guidance based on their interpretation of the intent and then there may or may not be legal challenges as to whether the IRS has misinterpreted or overstepped.

 

[CoachBatch]

Please tell Coach - Ocean Coast?

Yes I have OC.

 

[dleewla]

No the $2k is because the FE interior has always had a $2k upcharge. The OC interior for price-protected orders has no upcharge.

Some people are flexible with what they will take. I am not - I decided years ago what color and what interior I wanted, and for once in my life I wanted to have my first choice with car interior/exterior color instead of settling for what was "on the lot".

I had to wait an extra ~4 months for my OC R1T, and I am now perfectly happy because I got what I wanted. Naturally my advice is that you already made your choice, so wait for that choice. It's only a few months more.

FE likely isnt going to speed up delivery. im pretty sure FE is more rare than OC in terms of overall number of configs. id wait on the OC and you'll probably see it sooner than FE

 

[diehlryan]

I'm not seeing a lot of R1T deliveries with OC either, a few here and there but majority is BM. This doesn't give me a lot of confidence that Rivian has OC interior all worked out (from a supply chain, manufacturing pov). I was all BM until the new OC came out. Much like the 'twilight' saga, I am now caught in that love triangle of knowing that BM is the safe bet but OC is that mysterious one. Gee, Thanks Rivian!

this made me laugh. Ive been in the R1 shop twice and 90% of trucks were OC.

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