Hmm, OK, I will take your words for that. I actually leased my 2024 Mach-E, so I didn't have dig deep into that, and I guess I just misunderstood. What I did know, is that if I bought it, I wouldn't get any tax credit because by the time I bought it at the end of August 2024, that was gone.
A credit check just gives them a credit score. They don’t know your income from that.
Transferred credit below means transferred from you to the dealer, so you get it at point of sale.
I think he was getting at the application for a loan includes income. Of course, you may be filing joint yet apply for a one person loan, so they wouldn't know both incomes, nor do they know anything else about your tax filing situation.
Do Lenders Check Income for an Auto Loan? https://share.google/tS7wDlWJgr6sM91Vw
Just receive my letter a couple of weeks ago.
So you also bought in 2024, thinking you were getting a tax credit when you filed, based on the dealership giving you false information?
I actually purchased my vehicle in April of this year. I was told by the dealership, that I would get a $4000 rebate if an "EV" was purchased. (Which I did) Surprise, IRS sends me a letter in the mail. You don't qualify for a tax credit because you opted to receive the rebate. I was never given that option.
The tax credit for buying a USED EV is $4,000, only available at time of purchase, from a car dealership. Is that what you got? If yes, you get no additional tax credit.
I had asked my sales contact about the rebate very early (because I noticed the instant credit/discount was not applied to price online or on the window sticker) and they explained it was because the MME was made in Mexico and didn't qualify. Thankfully I ended up getting the Ford Employee Discount sale/discount which did pretty much the same, for the same amount in the end.
That is basically the situation, the government take away, and then Ford tries to compensate. But you have to hit it right, depending on what the government/Ford is doing at any given point.
