Decided to cancelled Mach E for a Model Y

Badger_Prof

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Note that you are paying tax in most states for the $7500, making it reduced to around $7K.
Not sure that is correct. It is not true in Wisconsin. How are states taxing a reduction in the amount of federal tax a person pays?
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garfieldorlando

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Not sure that is correct. It is not true in Wisconsin. How are states taxing a reduction in the amount of federal tax a person pays?
It's a fed tax credit, not a deduction from the vehicle purchase price. You pay full price when you buy the car, at which point the tax for $7500 is collected. Next year you get $7500 tax credit back, but the tax on $7500 are not returned back.
 

garfieldorlando

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A comparison on the purchase cost between MY LR AWD and MME ER RWD, based on my prefered configuration.

MME ER RWD:
Base: $50000
ER: $5000
Infinite Blue: $400
White Interior: $0
Delivery: $1100
Homelink: $0
Total: $56500

MY LR AWD:
Base: $49900
Blue exterior: $1000
White interior: $1000
Delivery: $1200
Homelink: $300
Total: $53400

Now consider 2% discount on X-Plan and $275 doc fee, MME becomes $55667.
Difference between the two: +$2267
Assume 6% sales tax, $7500 Fed credit worths $7050.

Final: MME $48617 vs MY 53400, Diff: -$4783
 

Badger_Prof

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It's a fed tax credit, not a deduction from the vehicle purchase price. You pay full price when you buy the car, at which point the tax for $7500 is collected. Next year you get $7500 tax credit back, but the tax on $7500 are not returned back.
I understand how the tax credit works but I misunderstood your point. Sorry about that. You are correct that sales tax (if there is a car sales tax in your state) is based on the selling price of the new car (minus the value of any trade in here in Wisconsin) and is unrelated to whether or not you get a federal tax credit. The tax credit is received in the tax year that the car is purchased, not the next year. If we get lucky and receive our MME before the end of 2020, the tax credit is against our 2020 federal taxes (I know those taxes would be filed in 2021 but the tax liability is reduced in 2020).
 

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Not sure that is correct. It is not true in Wisconsin. How are states taxing a reduction in the amount of federal tax a person pays?
Yep. Income tax, both state and federal, is calculated on income. The income amount isn't changing. Nor are deductions. The $7500 federal tax credit just comes off the federal tax liability, and should have no effect on taxable income, and no effect on state income tax.
 


JCHLi

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The 49k Y is also extended range. So it seems to be similar to 50k MME after tax credit. How similar will be known after EPA range is released. Does the premium MME have the panoramic roof, can't remember. I think it does have heated seats. Not sure driver profiles will move steering wheel though.
Does the y have different range levels? Extended implies extended versus a normal version.


And yes, it has a panoramic roof, plus a fully attached bumper.
 
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Wish everyone well with the Mach E. Was able to test drive a Model Y today and it was really nice. Between proven OTA updates, 250kw charging, Supercharger network, and 300+ range, decided to go for it. I would love to also test drive a Mach E, but seems like that is not happening anytime soon. I'm sure the Mach E will be great, but for 50k I am nervous about all the "firsts" by ford. First OTA, first car on this new platform, first with this online sales model. I also think folks underestimate the dealers ability to service a new EV. My Volt was always problematic at the dealer, they would say, oh the EV guy is not here today, etc. They will only see a handful of these for quite some time and yours will be the one they learn on. Hopefully over a few years that will change. Good luck everyone!
I just cancelled my Mach e order and the dealer (Reynolds Ford - Norman, OK) wouldn’t refund any of my $500. They can do that but that Is the last dealer I will ever do business with. I’m now ordering a Model Y online.
 

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I just cancelled my Mach e order and the dealer (Reynolds Ford - Norman, OK) wouldn’t refund any of my $500. They can do that but that Is the last dealer I will ever do business with. I’m now ordering a Model Y online.
Good luck with the adventure and the new Model Y.
 

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I just cancelled my Mach e order and the dealer (Reynolds Ford - Norman, OK) wouldn’t refund any of my $500. They can do that but that Is the last dealer I will ever do business with. I’m now ordering a Model Y online.
Keep us posted here on what you think once you get the car. I know a lot here will be interested in impressions.
 

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I just cancelled my Mach e order and the dealer (Reynolds Ford - Norman, OK) wouldn’t refund any of my $500. They can do that but that Is the last dealer I will ever do business with. I’m now ordering a Model Y online.
Greedy dealers. It doesn’t cost them anything. That is an advantage that Tesla has because they bypass dealers. Tesla deposit is also non-refundable but the cost is only $100. Enjoy your new ride, I heard the wait is only a few days.
 

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I saw a red Model Y yesterday and, after being struck by how good it looks in person, immediately had to run through the numbers again as soon as I got home.
I’m still going to hold off on pulling the trigger until I see the updated info on the GT with Performance option and, in particular, the pricing for that Performance option, the glass roof and the other optional equipment on the GT. Hopefully, that info is available before orders open for the GT in Dec.
And hopefully, the total price tag doesn’t escalate out of control and I can patiently wait until this time next year. If the price stops making sense, I won’t be disappointed if I have to “settle” for an MY.
 

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I just cancelled my Mach e order and the dealer (Reynolds Ford - Norman, OK) wouldn’t refund any of my $500. They can do that but that Is the last dealer I will ever do business with. I’m now ordering a Model Y online.
Curious why you cancelled? If you got as far as giving the dealer a deposit, you must have actually placed an order with the dealer (not just the early reservation deposit with Ford).
 

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I just cancelled my Mach e order and the dealer (Reynolds Ford - Norman, OK) wouldn’t refund any of my $500. They can do that but that Is the last dealer I will ever do business with. I’m now ordering a Model Y online.
Hmmm. Real or troll? @phil4791eng joined today to tell us this.
 

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Hmmm. Real or troll? @phil4791eng joined today to tell us this.
I give him the benefit of the doubt -- real for now. Just would like to know more details such as whether he contacted the dealer about deposits before ordering, and reasons for cancelling.
 
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ajmartineau

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He could have picked up the car and flipped it for a profit.
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