I mean it should qualify at least until 1/1/23. It meets the old credit criteria and is built in NA. Might lose some or all of its credit in 2023 due to the battery and mineral origin requirements but the TN built ones should be good for the rest of this year…
The only reason you would have wanted to sign before 8/16 on a 2023 ID.4 would have been to get around income limits requirements.
Not related, to get the old $7500 you need a binding contract and i was asking if Vw would write one for a car that was just announced like Fisker and Others are doing
Laughed out loud at some of the “reasons.”
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I thought income requirements didn’t go into effect until 2023? I though I read that between now and 1/1/23 the only thing that changed was the location requirement of the build being in NA and that 1/1/23 the rest goes into effect like battery components and income requirement.
Tell me where I’m wrong.
I don’t believe the pre 23 ID.4 was built in NA so that’s why it’s not on that list. That list is for vehicles currently out. The first TN built ID.4s are just coming off production so I imagine the list will be updated to reflect that once they hit dealerships.
It says on the page that it will be updated as soon as they get newer info.
I was hoping @moodyhank got a binding contract and get both the lower price and the 7500 rebate
This is only an issue if delivery doesnt happen until 2023
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Looks like none of the legacy manufacturers (VW, Kia/Hyundai/Genesis, Toyota etc.) tried to do what Rivian/Lucid/Fisker has done, at least attempting to have a binding contract by making some or all of the reservation fee non-refundable. I get that there are the dealerships as the intermediary unlike Rivian/Lucid/Fisker but they could have provided a template to the dealers to do so.
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Probably it all happened in 2 weeks that everyone was caught napping
Thanks for confirming this.
It doesn’t look like this had a template attached as to what the written binding contract should be like but pretty sure the dealers do not have the same legal council as the manufacturer to write up such a contract within a couple of days. Still baffling to me that the legacy manufacturers weren’t as quick to react as the start-ups that probably have half the resources.
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That kind of turn around from very short staffed law firms is really tough ATM. There is a lot of dollars riding on getting it right, and the law to be interpreted was fluid right up to the moment of signing.
A lot of tax laws goes into effect at year end. This was unusual to be partially effective at arbitrary and not predetermined dates.
Tax planning is a literal nightmare right now. A lot of Tax/law firms guidance is to just settle for whatever’s the IRS asks. The IRS is not answering phone or letters, so it’s not worth your money to fight even when your legally right unless it’s a stupid amount of money.
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This is why all clauses should have been effective 2023… must have been some serious lobbying for the NA final assembly to be effective upon signing as I doubt that was an oversight because it had a specific callout to be effective when the law was enacted.
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Well all that inflation reduction needs to start immediately.
Seriously making some of the rules start immediately give talking points for the upcoming elections as both parties pander protectionist policies that end up being more of a tax than a benefit.
KIA dealers were too busy contemplating how this change would allow them to add another $5K to their ADM’s.
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Dealerships are not going to do anything on the fears that they might have promised a tax credit when there isn’t. I got my salesman to put a VIN on the deposit slip and he signed it and that’s as far as they will go. Luckily I got a NA allocation so no binding purchase agreement needed (I think).
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I know looking into a crystal ball here. Tell me if my assumptions seem kosher
- 2023 Chevy bolt will meet the 3750 assembled in the USA part
- Will not meet the second half of the credit requirement
- Bolts old $7500 was baked into the residual on a lease when they were under 200K cars
- Given all the income requirements they cannot have a standard 3750 baked in the propped up residual
- How will the 3750 be factored into a lease? Point of sale rebate?