Part of inflation reduction act was that the federal credit will be available to take point of sale starting 2024.
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Yeah, I had to really search for it, but I found this - 2024 EV Tax Credit Point of Sale: How much can be cut from the cost if you're buying an electric car? | Marca
Looks like it’s still income based.
What happens if a dealer gets defrauded during an income verification? Like the dealer asks for W-2 or prior year tax submission… but it turns out the buyer’s latest year taxes would put them over the income limit.
So the dealer passes a $7,500 savings to the buyer, but then the dealer will fail to collect the $7,500 from the government.
Can the dealer sue the buyer to collect damages? Can they repo the car? Or is the dealer SOL?
Last group you would want to defraud is the IRS
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You may still have to declare on your taxes and that’s when the IRS will true up?
You are way overthinking this.
They are paid by the feds, and then it is between customer and the feds, unless I am assuming the dealer was grossly negligent.
But look at all the states with local incentives, NJ for instance. They get money from the state. Then it is between the customer and state if there are clawbacks.
If customer is deemed ineligible, it will be on their future tax returns. Just like the Covid bucks that people got up front, but they then had to account for them on tax returns.
Ha, that’s rich.
Inventories for the truck have been growing steadily and still rarely see one on the road (in SoCal). Ford needs some world class lease terms to move this thing. Lets Go!
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Have they now lowered the price and added a $7,500 rebate? That’s what it looks like at my local dealer in NorCal.
They’ve added rebates which decrease as you go down the trim lineup.
For a Lariat, you pickup a $7500 rebate, and then the $7500 tax credit, plus a discount around $6000, which brings the effective price down in the mid 50’s. Still a big payment compared to most EVs.
For a Pro, they are offering no additional rebate, but you can get the $7500 tax credit, plus a discount around $2000, which brings these into the low 40’s. This can make a very solid balloon loan.
The thing is, we are not far off from the tax credit becoming a point of sale reduction, if I was in the market I would just wait.
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Don’t qualify 
About 36,000 Lightning units produced 2023 YTD. Over 22% sitting on dealer lots unsold.
Q3 2023 sales:
3,503 units (down 46% YOY)
So much for the 200k+ reservations. No wonder Ford is cutting production.
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Are they passing through these credits to leases? I thought they were but can’t remember.
It’s unclear, but the leases are still terrible and don’t allow buyouts.
You can see the national offers here:
https://www.ford.com/trucks/f150/f150-lightning/pricing-and-incentives/
They could sell double that to fleets. Thats most of the reservations for the PRO version, but ford decided F people (now I get their stock symbol) who want work trucks, and decided to cater to people who cosplay at contractors. Turns out those same people don’t much like EVs and don’t want their EV version.
Then of course there are Ford dealers that thought they can mark these up, and yes the first wave was sold to overexcited man-children who are now sitting so far underwater on these things they will probably never buy another Ford again.
I truly wanted one myself, but not for the F U prices Ford thinks those trucks command.
They weren’t last time I checked, but it was before the 7500 from ford. Personally I have completely lost interest in it with more and more people reporting battery module issues that require absurd times to resolve, and that’s not counting a barrage of usual Ford quirks that are commong to F150 trucks, which this thing is 99% made of. The only redeemeing quality it has is that insurance on it is not like on other EVs as most body panels and structure is just run of the mill F150.
Ford and GM need to quit releasing vaporware msrp during EV debuts. They never come close to them. The reservations were based on $39k Pro model. There is nothing Ford can really do now, since they lose $33,000 per EV sold. They definitely did not make the correct forecast. Toyota’s choice to delay the full transition to EV is looking better and better every passing day.
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LOL…WTF! This is SR Lariat (510A). Whoever thought this is a good idea, needs to be taken behind the EV factory and have a battery dropped on their head.
they didn’t even put in the $2k cash offer? lol they suck.
I cancelled my reservation after they raised prices. The ER package is just ridiculously priced