Is there a VIN on it? If not, then no
1 Like
No VIN (although I just got the VIN), I asked the sales guy, people been calling them to get binding agreement like Rivian and their finance guy wonât do it (which is understandable).
1 Like
I like to say I am amazed by all the media writing incorrect info about changes to EV credits. But media is dead, so it isnât surprising. None of these idiots have spent more than 1min actually reading the legislation. Then they attempt to write articles about what vehicles will now qualify and which wonât.
3 Likes
That chart is highly inaccurate. Not a single person besides manufacturers actual know mineral sources of their batteries. I can assure you by the amount of complaining about mineral clause by all brands, none of them meet the 40% clause. Only 15% of worlds minerals mined for battery packs are mined in US or FTA countries. Years away from any brand qualify for that $3750 portion. Unless they changed the âguidelinesâ.
Components minimum will be difficult for many as well. GM/LG has one US plant open making cells for Ultium batteries. Not even sure they source 100% of their cells from that one plant, as they have 3 new plants under construction. Whether the pack is assembled in the US , doesnât matter. Mach E battery cells are produced in LG factory in Poland. It is all about where the components are manufactured. Honestly it really is unknowable at this moment what vehicles qualify and how for much of the credit.
2 Likes
Following this group of posts is a lot of talk about environmental politics and governmentâŚ
Can someone please re-iterate (if I missed it) whether a 2023 4XE that was ordered last month, but is delivered in 2022, would still get the $7500 EV incentive/discount from CCAP or not?
Any difference if the 4xe is ordered this month (and delivered in 2022)?
1 Like
You may see the programs change to reflect new eligibility guideline.
1 Like
So does that mean they have not yet changed? If I take delivery tomorrow, do I still get the $7500 as of right now??
1 Like
It isnt clear if the new credit will have any applicability to leases. It would seem that when the new bill is enacted, that is likely to go away.
If you have a written binding agreement to purchase, poc might qualify, then you have a path forward on a purchase to continue to apply the current tax credit.
3 Likes
What does this exactly mean? I thought the 7500 was taken out from my tax liability. Wouldnât decreasing my withholding decrease my tax liability too?
Something about not letting the government borrow hold $7,500 interest free. 
3 Likes
I understand that. But I need the tax liability over $7.5k to get that credit back, right? So I need to have enough withheld to cover the two EVs I have on order. Right?
1 Like
Keyword is "Guidance ".
Does Secretary has the power to change percentage of material and origin?
or can he say battery requirement dont get applied till Jan 2024⌠I am sure lot will happen behind the scene before he gives any Guidance.
Guidance is required to be given by 12/31/22. The 40% battery material requirement, which is the threshold for the first $3750, extends from when guidance is given until jan 1 2024. The question is ehat happens between when its signed and when guidance is given.
If guidance hasnt been given yet, it would seem that the $3750 has no way of being triggered.
If CCAP want to continue that $7500 credit this bill cant stop it even once signed by Biden. Its not like you get that after you file your tax return . Its instant and CCAP has a lot to Say.
If they stop the credit then no one in his right mind will be leasing 4xe and CCAP knows that.
If they do stop it, then it will be interesting to see what will happened to the orders placed for 23 4xe and lot of them has 1k deposit.
1 Like
Really depends if CCAP/FCA wants to gamble $7,500 on the chance they might get paid back. Until one hears different I would just assume the party is over and that floater in the pool is not a Baby Ruth.
1 Like
Sure, ccap could decide to start providing a $7500 incentive coming out of their own pocket even if they no longer get the federal tax credit. Its highly unlikely they would do such a thing though.
3 Likes
Tax liability is the same regardless. Like IAC said donât give an interest free loan for even 1 dayâŚ
2 Likes
Iâm in this boat.
Making alternate plans just in case. Hate to lose my 1k though. Forcing a purchase to get the 7500 isnât the right think to do, either.
If I only had a crystal ball I would of snagged the X5e when I had a chance. An as*hole dealer told me it would be a 12-18 month wait (liar) which is actually how I found the LH famâŚ
Bill changes are good, timing is lousy.
2 Likes
Just keep an eye on CCAP docs after the legislation is signed. Right now the hybrid EV pass through CCAP doc says eligible through 12-31-22. But that could change any day.
For my understanding, the moment Biden signs.
- $7500 credit in its current form is dead.
- $3750 credit for battery production goes into effect when secretary gives guidance?
- $3750 NA assembly credit goes into effect Jan 1 2023
- Income limits goes into effect Jan 1 2023.
Unless You have a confirmed order (transition rule)
1 Like