6/20/22 Build Week Gang

[machesan]

When we picked up the CR1 on Aug 7th, I told our salesperson that if another Mach-E became available to let me know. Well he called at 2 PM today (8/15) and said if we get there fast they have an Ice Blue Premium AWD that the person who ordered it decided not to take. We zoomed down there and now we are the proud owners of two MMEs.
The other bonus is that today is the last day to get the $7500 tax incentive, if you didn't have a binding order.
The only slight bummer was that this dealer advertises no dealer mark ups, but they charged us a $2000 mark up. Tried to argue it, but they said take it or leave it, in so many words.
Did end up getting a good price on our trade in after some hard dealing. Got them come up to my original offer by indicating, either give me what I want or I'll sell it myself. We were only asking KBB Trade In value. Guess they really want used cars.

Can you please elaborate about this tax credit thing? I watched couple of videos but didn't get it. I have booked my car in the month of Jan this year but not delivered yet. Is this thing considered as binding order. Are we not eligible to get the 7500$ tax credit?

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[SD Marc]

Can you please elaborate about this tax credit thing? I watched couple of videos but didn't get it. I have booked my car in the month of Jan this year but not delivered yet. Is this thing considered as binding order. Are we not eligible to get the 7500$ tax credit?

As long as you take delivery by the end of Q4 you should be OK under the current rules.

New rules start next year and nobody knows what will meet the requirements yet. Under the new rules if you have a “binding order” for a car now and it qualifies under the old rules, you can take the old tax credit in the year it is delivered.

https://apple.news/A5kcV__XeR5KeBueJlM3bxA

 

[machesan]

As long as you take delivery by the end of Q4 you should be OK under the current rules.

New rules start next year and nobody knows what will meet the requirements yet. Under the new rules if you have a “binding order” for a car now and it qualifies under the old rules, you can take the old tax credit in the year it is delivered.

https://apple.news/A5kcV__XeR5KeBueJlM3bxA

Does this 500$ deposit is considered as binding order? Also IRS income limit is applicable from today or from dec 31st, 2022?

 

[levineds]

And now pushed into September.

My delivery window has been shifted to the same week (9/9-9/15 from 8/11-8/17):

I'd say I'm officially behind you both now. I'm still at Richards-Gebaur and my delivery date hasn't updated yet (which means they haven't put it on a new schedule yet, I think. Obviously, it's not getting here in the next three days).

 

[WNKent]

I mean, how many days would it take to reach the west coast?! They’re all just sitting around, waiting a train, NEXT MONTH?

 

[machesan]

@WNKent @levineds @LeWe
Do you guys know about this tax credit thing? Is income threshold thing applicable for our deliveries? Did you guys do any binding contract?

 

[levineds]

@WNKent @levineds @LeWe
Do you guys know about this tax credit thing? Is income threshold thing applicable for our deliveries? Did you guys do any binding contract?

1) My understanding is that CA law prevents binding contracts without taking delivery. That is, the consumer can always get their money back in CA regardless of what they sign until they physically take delivery of the car. California Code, Vehicle Code - VEH § 11736(c)
1b) Perhaps it can be argued that you have already entered into the most binding contract available to you under state law; you have given a deposit, which is part of the purchase price, with a written, agreed upon price, and a specified VIN. (these are the features required for a car purchase contract, I am not your lawyer)
2) The income thresholds will not apply this year.
3) The built in North America does generally apply this year, but is irrelevant to the Mach-E
4) The battery materials requirement could in principle apply this year, and is pending rules from the Sec of Transportation. Since Sec Pete wants to run for president again someday (and needs to win the dem nomination), I don't seem him rushing to limit EV subsidies

tl;dr I'm not worrying about it now because there's not much to be done (except run out and pay 10k dealer markup which is definitely not worth it to save a $3750 tax credit) and probably it will work out fine anyway.

 

[levineds]

I mean, how many days would it take to reach the west coast?! They’re all just sitting around, waiting a train, NEXT MONTH?

As many people have said in the past, I would get on a plane and drive back from MO if that was on offer.

 

[WNKent]

As many people have said in the past, I would get on a plane and drive back from MO if that was on offer.

I totally would! I work for an airline ;-)

 

[shelnian]

Can you please elaborate about this tax credit thing? I watched couple of videos but didn't get it. I have booked my car in the month of Jan this year but not delivered yet. Is this thing considered as binding order. Are we not eligible to get the 7500$ tax credit?

If you have an order for a MME that was accepted by Ford and a dealer with a $500 deposit, you have a binding order. If you obtained the binding order on or before 8/15/2022 you are grandfathered into the old $7500 tax incentive program so you will get the $7500 tax incentive (but only if you owe over $7500 in taxes for the 2022 tax year, otherwise it will be what you actually owe. It's a credit not a rebate).

 

[machesan]

If you have an order for a MME that was accepted by Ford and a dealer with a $500 deposit, you have a binding order. If you obtained the binding order on or before 8/15/2022 you are grandfathered into the old $7500 tax incentive program so you will get the $7500 tax incentive (but only if you owe over $7500 in taxes for the 2022 tax year, otherwise it will be what you actually owe. It's a credit not a rebate).

For example I have paid 10k taxes for year 2022, I can claim a refund of 7.5k while filing tax returns right?

 

[WNKent]

For example I have paid 10k taxes for year 2022, I can claim a refund of 7.5k while filing tax returns right?

Yes, you can claim that "TAX CREDIT".

 

[shelnian]

For example I have paid 10k taxes for year 2022, I can claim a refund of 7.5k while filing tax returns right?

Yes, have to fill out and include IRS Form 8936 with your filing.

 

[Renton777]

My Mach e arrived at the dealership. Unfortunately it broke free in the rail car and played bumper cars. Going to meet with them tomorrow to discuss offers Ford has made to right the situation.

 

[WNKent]

My Mach e arrived at the dealership. Unfortunately it broke free in the rail car and played bumper cars. Going to meet with them tomorrow to discuss offers Ford has made to right the situation.

Oh, this is awful!