Will 2023 R1T above MSRP 80000 still qualify 3750 EV credit after employee discount?

[Janni730708]

I am trying to buy 2023 R1T with MSRP 84250, and my friend who is Rivian employee can apply employee 7250 discount for me, which bring down the car price to 77000. Does still qualify EV credit 3750 discount apply at ponit of sale since the car price is below 80000 after employee discount?? I can't see the digital payment unitl I lock the configuratin which the 1000 depoist will become non-refundable. Does any one have idea how that works? Im locate at CA

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[COdogman]

To my knowledge the EV credits are based on the MSRP of that vehicle (not including “accessories” like crossbars, etc), so I don’t think it would qualify, but I’m not 100% when it comes to an employee discount. My initial thought is it would not.

 

[pricedm]

https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after

"In addition, the vehicle's manufacturer suggested retail price (MSRP) can't exceed:

• $80,000 for vans, sport utility vehicles and pickup trucks
• $55,000 for other vehicles"

 

[240vPlug]

Probably not as MSRP will show as above 80k on the purchase agreement. If the discount shows as a reduced MSRP and not as a credit off the current MSRP then you may qualify.

This would be a good question for Rivian as to how the discount for employees is applied and displayed on the purchase agreement. Also, if the purchase qualifies you should see the tax credit item in your purchase process as you will have to select POS or if you will file it in 2025 when you file your 2024 taxes.

Rivian needs to submit paperwork to the IRS in order for you to get the credit.

Hope this helps. Not a financial advisor and this is not financial advice

 

[Janni730708]

Thanks for the answer, I was talking some of the emplyee from Rivian, some say no, some say should be. It's very unknow, and some employee said you need to process further to digtal payment prcosess in order to see, which is a risk that 1000 deposit will become non-refundable.

 

[Eric9610]

Can you get the discount and lease? that would qualify you for the full $7500. Then after 2-3 months buy it out? This would give you the maximum discount available. Or you could drive it till the end of lease and choose what you want to do.

 

[Janni730708]

Can you get the discount and lease? that would qualify you for the full $7500. Then after 2-3 months buy it out? This would give you the maximum discount available. Or you could drive it till the end of lease and choose what you want to do.

But after 2 - 3 month buy it out, I need to pay for the residual value, which will be base on the MSRP instead of MSRP - $7500 - employee discount, and plus whatever the remaining lease payment right? Sorry I am not really familuar with how the lease working... If that's the case, won't be a good deal right?

 

[Riviot]

But after 2 - 3 month buy it out, I need to pay for the residual value, which will be base on the MSRP instead of MSRP - $7500 - employee discount, and plus whatever the remaining lease payment right? Sorry I am not really familuar with how the lease working... If that's the case, won't be a good deal right?

Welcome to the forums, Janni 7 3 0 7 0 8 !

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