Announcing our new "CLUBS" section where you can join or create a Rivian club or group! You can use this new feature to conveniently plan and discuss local events, gatherings or other club/group related topics.
So we encourage you to join (or start) special-interest and regional-based Rivian clubs at: https://www.rivianforums.com/forum/group-categories/clubs-groups.1/
Withholdings or estimated payments don’t impact the credit.
Tesla just agreed to pay 1.5 million because they limited the use of battery. Rivian customers may demand the full use of the battery they already own.
I must have misunderstood how it worked. Thought you had to owe $7500 to get the full $7500 back as its a credit not a rebate. Have to ask our tax guy for more details and a plan next year. Still need to finagle things so I come out close to even at the end anyway. I'm not big into loaning the government my money and trying to get it back, when I could be investing it myself
It is a “non-refundable tax credit” and works exactly as McMoo suggested. The non-refundable part of the characterization is what’s confusing. That just means you don’t get back $7500 if you only have a tax liability of say $5000. “Tax liability” means total taxes you owe for the year, not the tax liability minus any payments you’ve already made, which is how you figure out if you owe an additional payment of if you get a refund.
Very different situations. Tesla paid because they sold a car with a specific battery size that they later reduced in functional capacity via a software update due to concerns about safety of the pack.
Not to mention the fact that not all Rivian buyers will be rich. I'm not (I do ok). This will be my first "premium" vehicle. I would not purchase something more expensive, nor would I purchase an ICE vehicle at anywhere close to this price (within 20-30K of it). Rather than move to a nicer house or purchase other luxuries, we're opting for an electric vehicle that meets our needs. Of course, without the incentive we might delay our purchase. What we won't do is spend money on an ICE vehicle (contribute to the economy) or purchase an electric vehicle that won't meet our needs (we'll opt for an EV to replace our Prius eventually, but not for years - we want to replace our fuel hungry ICE SUV). I don't know that we need a 200K cap, but we need to promote the sale of those vehicles that replace fuel hungry counterparts.
My position is actually pretty similar to yours. I don’t see myself or my wife buying an ICE vehicle again. I already drive an EV so for me personally, the credit or lack of may have an impact on timing only. I’d also consider an R1T if the price difference truly ends up being $8k due to msrp limits on the credit. Or hopefully a base R1S could be dropped to $68,999.
Base MSRP is not in play here (in this version) and what is included/excluded in MSRP is not defined. Factory installed options (trim level, wheel upgrades, bigger battery, etc) will be part of the MSRP. "Dealer" installed options - maybe not?
No, but if you know you will be entitled to a $7500 credit then you can adjust your W2 witholdings or ES payments accordingly. The risk there is that if, say, delivery on your truck slips into the next year you may finish the current year with insufficient witholding or estimated payments and face the penalties from that unless you are in your "safe haven" range.....
The other issue to consider is that Rivian doesn’t have traditional “dealership”. I wonder if that language is inserted purposely for traditional dealerships.
