***Thread is OBE***—MMEs now qualify for tax credit—Who is still going through with their 2023 MME purchase despite the new IRS tax credit rules?

[jac-e]

Hi everyone! I am new to this forum (though I have been a lurker voraciously reading and absorbing all of the great information here for some time), and I have a 2023 Rapid Red MME California Route 1 on order, which is set to arrive in the next 1-2 weeks. I have been really excited about this vehicle, as I am currently driving a 2010 Infiniti G37x that has about 120K miles on it, and this will be my first-ever EV.

With that said, I wanted to ask how many of you are still planning on going through with your 2023 MME purchases despite the IRS tax credit rules limiting the tax credit to vehicles capped at $55K? I have read the 47-pages of comments on the recent tax credit thread, and did see several people saying they are backing out/canceling their orders, but not many said they still want to stick with it. With this recent development, I have momentarily paused to decide if the car is still "worth it" to me. I believe it is because there really isn't anything else on the market that I want and/or could afford, and I do need a car within the next year or so (see old car above), so I think I am planning to still go through with it. Who's with me? (and why, if you feel like sharing)

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[ShaggySS]

If your car isn't here yet I would wait and see what the IRS does. Seems to be getting a lot of heat ATM.

 

[jac-e]

Thank you! I am debating on holding off to see what happens in the next few months.

 

[4sallypat]

I was the original poster on the 47 page plus thread on the tax credit change with maximum MSRP being $55K.

All the stars lined up with my order and got my order arriving next week with $25 to spare.

$54,975 was the price tag before D&D so I barely squeaked in under the maximum.

I feel for those that got higher priced MME on order...

Something may change from IRS or Ford during this year to accommodate those that were affected.

Also feel for those that are getting theirs after March when the IRS rules on the battery / mineral / assembly criteria....

 

[generaltso]

Also feel for those that are getting theirs after March when the IRS rules on the battery / mineral / assembly criteria....

Maybe. The guidance won't come before March, but it could certainly get pushed out again. We'll just have to wait and see.

 

[ArthurDOB]

I am, but I am ordering a Premium RWD w/STD range and am just under the $55k limit (ordered on 11/25/22). I had one of the expensive paint options and Interior Protection Package which put me just over the limit, so I changed them so I could qualify.

That being said, I would still have followed through with the order. Before the IRA passed, I knew I might not get any break at all, so I was already prepared for this possibility. I was not financially in a position to order one before the date I did, so I consider the possibility that I am getting anything back to be an unexpected bonus.

I do not have enough tax liability to have any had any hope of getting the full $7500 anyway, so any amount is good.

 

[d^2x/dt^2]

My CR1 is not yet scheduled so I have a bit more time. I plan to test drive an ID4 and reevaluate but will most likely stick with the MME. The rebate would be nice but I will buy what I want and not let the government decide for me.

 

[MachKet]

I have a converted GT order with a 8.5k private offer that I’m going to pass on if no tax credit.

 

[Sagacant]

I have a 2023 CR1 on order that just arrived at the dealership today. Unless somehow Ford has already had an answer for the lease loophole, I will not be following through. Between the price hike and the loss of the tax credit, the car IMO is not worth it

 

[sim1]

It seems a lot of people who say they are passing don't need a car. For people who need a car and say they are passing, what are they planning on buying (or leasing)? For example, Acceleration (i.e., d^2x/dt^2--love the handle) said he plans to test drive an ID4. How about others who are passing and need a car? Is it some other EV or back to ICE?

 

[jac-e]

It seems a lot of people who say they are passing don't need a car. For people who need a car and say they are passing, what are they planning on buying (or leasing)? For example, Acceleration (i.e., d^2x/dt^2--love the handle) said he plans to test drive an ID4. How about others who are passing and need a car? Is it some other EV or back to ICE?

I am wondering that, as well. As I mentioned I do need a car (granted, not right this second as my current car does still function, it's just very old and has aging parts). I looked at the EV6, but wasn't in love with it. I do want an EV and don't like any others on the market as much.

 

[MW1515]

Honestly it is making me sad that people are canceling their MME order based on the IRS classification. I get it, bc the car... whoops SUV ?... is at the top of my price range and the tax credit was a big deal. But I love my MME so much that if I had to give up the tax credit to keep the MME, I would, and figure out somewhere else to save money. Hang in there, you will love the MME, and there is still a chance the IRS could change the guidance.

 

[MellowJohnny]

I started out life with a job in a brokerage firm right out of school. I was lucky enough to work with a very experience broker, who had nuggets of wisdom to pass on the more I worked with her. One that stuck with me was something she'd say to clients who wanted to buy Stock X at say $50, but had now gone up to $51. She'd say "If you liked it at $50, you like it at $51" assuming you're in it for the long haul.

So I have the same advice - the car is fantastic, and I look for opportunities every day to take it out and drive it. I absolutely love it.

So, with what I've read about the actual "in your pocket" benefit of the $7500 tax credit being roughly half that I'd say the same thing - if you liked at $63k (or whatever it is...), you'll still like it effectively $66k, or whatever it happens to be.

I would absolutely not give up driving this car for essentially $3500. I have a '22, but if I was in your position, I'd keep it. It's an amazing car.

Hope it helps, just another data point for you ultimately to decide for yourself.

 

[jac-e]

I started out life with a job in a brokerage firm right out of school. I was lucky enough to work with a very experience broker, who had nuggets of wisdom to pass on the more I worked with her. One that stuck with me was something she'd say to clients who wanted to buy Stock X at say $50, but had now gone up to $51. She'd say "If you liked it at $50, you like it at $51" assuming you're in it for the long haul.

So I have the same advice - the car is fantastic, and I look for opportunities every day to take it out and drive it. I absolutely love it.

So, with what I've read about the actual "in your pocket" benefit of the $7500 tax credit being roughly half that I'd say the same thing - if you liked at $63k (or whatever it is...), you'll still like it effectively $66k, or whatever it happens to be.

I would absolutely not give up driving this car for essentially $3500. I have a '22, but if I was in your position, I'd keep it. It's an amazing car.

Hope it helps, just another data point for you ultimately to decide for yourself.

Thank you, this is very helpful/reassuring! I think I would regret giving it up.

 

[Fins160]

I have been really excited about this vehicle, as I am currently driving a 2010 Infiniti G37x that has about 120K miles on it, and this will be my first-ever EV.

Not answering your question, since I got mine in 2022, but I also upgraded from a 2010 G37. I had the vert. Loved that car, but I don't miss it since getting the MachE. Even though I got the Select RWD, it feels even faster than the G. You're going to love it, tax credit or not...

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