11/01 Build week gang

kerifarie8188

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My dealer said my car has made it to my state and will be delivered by the end of the week. They said I can do the financing now so that’s it’s done in 2021 even though the car is not yet on the lot. My impression from others’ experiences has been that dealers have said they can’t sell a car that’s not on the lot at that time. Anyone have thoughts on this?
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MONDO

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My dealer said my car has made it to my state and will be delivered by the end of the week. They said I can do the financing now so that’s it’s done in 2021 even though the car is not yet on the lot. My impression from others’ experiences has been that dealers have said they can’t sell a car that’s not on the lot at that time. Anyone have thoughts on this?
If you’re doing this to claim the tax credit, be aware of the rules for the credit.

https://www.irs.gov/credits-deductions/individuals/plug-in-electric-drive-vehicle-credit-section-30d

You must have purchased it in or after 2010 and begun driving it in the year in which you claim the credit.
 

kennethjk

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My dealer said my car has made it to my state and will be delivered by the end of the week. They said I can do the financing now so that’s it’s done in 2021 even though the car is not yet on the lot. My impression from others’ experiences has been that dealers have said they can’t sell a car that’s not on the lot at that time. Anyone have thoughts on this?
I would be hesitant to sign any loan documents and not own the car. @MONDO is correct. Has to be put into service In the year the credit is taken And you have to own it.
 
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SirLamerok

SirLamerok

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If I couldn’t start driving it until next week we could still claim it for 2022, right?
Yes you could claim it in 2022. Unless build back better springs back to life and back dates to 1/01/2022.
 


BleedBlue75

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Just as a further update, my car has been sitting in KC since 12/14. I found out today that it just barely moved on a UP train headed north yesterday (12/27). Then I have to hope they have a truck driver available to take it the rest of the way. Likely going to be the end of the first week of January at best before I realistically see my car. Pretty frustrating that it takes about 6 weeks (or more) to get your car from the time of shipment but that's the breaks I guess!! Nothing like getting your 2021 vehicle in 2022!!
 

kerifarie8188

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I would be hesitant to sign any loan documents and not own the car. @MONDO is correct. Has to be put into service In the year the credit is taken And you have to own it.
Update: We signed. It makes me a little nervous to not have the car yet, but by signing today they seemed more motivated to get the car delivered to me by the end of this week, and since it’s the end of the month they also gave a better deal for the bumper to bumper warranty. They honored the X-plan and didn’t mark any costs up, so I am relieved to have avoided any torturous experiences like others have had. Now I just have to hope they actually get the car on Thursday for me to drive it off the lot on Friday and claim the tax credit this year …
 

kennethjk

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Update: We signed. It makes me a little nervous to not have the car yet, but by signing today they seemed more motivated to get the car delivered to me by the end of this week, and since it’s the end of the month they also gave a better deal for the bumper to bumper warranty. They honored the X-plan and didn’t mark any costs up, so I am relieved to have avoided any torturous experiences like others have had. Now I just have to hope they actually get the car on Thursday for me to drive it off the lot on Friday and claim the tax credit this year …
Good luck
 

sotek2345

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Good luck to everyone trying to get a delivery this week before the end of the year.
 

Ride_the_lightning

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I would be hesitant to sign any loan documents and not own the car. @MONDO is correct. Has to be put into service In the year the credit is taken And you have to own it.
I’m glad you aren’t my accountant because you would be insufferable. There is less than 1/10 of 1% of a chance that anybody, IRS auditor or otherwise, is going to give a shit whether you took your first joy ride on Dec 31st or Jan 1st, if your bill of sale and all other sale documents say December 31st. It must be extremely stressful living your life being that level of anal with risk analysis. Omg what if an IRS auditor pulls my vehicle logs and asks why I didn’t start my road trip on New Year’s Eve?
 

Benny’66

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I’m glad you aren’t my accountant because you would be insufferable. There is less than 1/10 of 1% of a chance that anybody, IRS auditor or otherwise, is going to give a shit whether you took your first joy ride on Dec 31st or Jan 1st, if your bill of sale and all other sale documents say December 31st. It must be extremely stressful living your life being that level of anal with risk analysis. Omg what if an IRS auditor pulls my vehicle logs and asks why I didn’t start my road trip on New Year’s Eve?
My dealer wouldn’t do it, or I’d be signing papers tomorrow. Of course, everyone’s situation is different. Sounds like the OPs dealer is pretty certain his car is close. Mine got to KC on 12/16, with an estimated delivery of 01/29/22., and hasn’t moved since. So I agree with my dealer and wouldn’t be taking that much of a risk. If my estimated delivery was 01/05, for sure!
 

Ride_the_lightning

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My dealer wouldn’t do it, or I’d be signing papers tomorrow. Of course, everyone’s situation is different. Sounds like the OPs dealer is pretty certain his car is close. Mine got to KC on 12/16, with an estimated delivery of 01/29/22., and hasn’t moved since. So I agree with my dealer and wouldn’t be taking that much of a risk. If my estimated delivery was 01/05, for sure!
Oh there is absolutely a risk to buying a car that hasn’t been delivered, sight unseen. The tax credit just isn’t near the top in my opinion, especially if it was only a few days. Owing money on a loan for a vehicle you don’t have is risky. I wouldn’t do it unless they knew it would only be a day or 2. I signed mine on a Saturday for pickup on Monday, but it had already been delivered, dealer just had to prep it.
 

MONDO

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I’m glad you aren’t my accountant because you would be insufferable. There is less than 1/10 of 1% of a chance that anybody, IRS auditor or otherwise, is going to give a shit whether you took your first joy ride on Dec 31st or Jan 1st, if your bill of sale and all other sale documents say December 31st. It must be extremely stressful living your life being that level of anal with risk analysis. Omg what if an IRS auditor pulls my vehicle logs and asks why I didn’t start my road trip on New Year’s Eve?
Oh look, @Ride_the_lightning got their Mach-E and just laughs at the rest of us still waiting. Must be nice!

Just presenting the facts of the tax credit here my friend. As you already stated, buying a car sight unseen is definitely the higher risk issue in this scenario.
 

Ride_the_lightning

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Oh look, @Ride_the_lightning got their Mach-E and just laughs at the rest of us still waiting. Must be nice!

Just presenting the facts of the tax credit here my friend. As you already stated, buying a car sight unseen is definitely the higher risk issue in this scenario.
Fair enough. Hey, it’s nice that living in “flyover country” finally has its perks…being closer to the Ford Kansas City rail yard.
 

kennethjk

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I’m glad you aren’t my accountant because you would be insufferable. There is less than 1/10 of 1% of a chance that anybody, IRS auditor or otherwise, is going to give a shit whether you took your first joy ride on Dec 31st or Jan 1st, if your bill of sale and all other sale documents say December 31st. It must be extremely stressful living your life being that level of anal with risk analysis. Omg what if an IRS auditor pulls my vehicle logs and asks why I didn’t start my road trip on New Year’s Eve?
I suppose it’s always a good idea to post something illegal on a public forum

but jerks are all around us and if people actually followed the tax laws our taxes would actually be a lot lower.
But if you want to find Professionals who deliberately flout the law so be it

I could go on but it wouldn’t make any difference to you.
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