Extra Extended Range AWD Premium Rapid Red

[Nadolwi]

I ordered a Extended Range AWD Rapid Red Last September. For some reason, an identical order in my name was also released a month later. The first order is supposed to be delivered at the end of September. The second on has not been built yet (suppose to have happen in August) as is waiting for parts per an Email from Ford. My dealer says I have first choice on both of these cars. I will take delivery on the first one, hopefully in October. My question is what should I do with the second one. My cost will be about $10,000 less than a 2023 MachE sticker price and not counting any tax credit. Not sure if I even allowed to have 2 tax credits. I am not looking to make a lot of money, but I would be willing to sell it for $2,500 more than I have to pay for it and not claim any tax credit for the second one. Is this scenario doable. My dealer does not charge more than the MSRP.

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[chuyqwerty]

Sell one on a site like Cargurus. You can make more than the $2500 you want to make.

 

[Vulnox]

You can claim both tax credits too, but you need to have $15k in tax liability, which I took a quick look and looks like it might be about $90k income if single, and around $130k or so if married. (I just took a quick look and a number of things can change your tax situation).

So that would be the only thing to watch out for.

 

[Ming]

There's no limit on how many tax credits you can get, as long as you have enough tax liability for them.
But the law does say the car can't be bought for resell. What it means is not clear (not dealer, or you have to own it for some time).

You can also trade in the first one when the second comes, especially if your state allows tax offset with trade in.

In any case, likely you should easily make more than $2.5k.

 

[RickMachE]

If you don't take the tax credit, no one can take it instead of you.

Take the first one. When the second one comes in, IF it still qualifies for the tax credit, and IF you have the tax liability to use that credit, then sell the first one and keep the second one, putting you 100% ok with the IRS.

We did this with ours. Ordered May 2021. Bought cancelled order July 2021. Order came in May 2022 (as a 2022, same exact price, same 0.9% financing). Took it, sold 2021 for a profit with almost 10,000 miles, have exact same car, but new, and money in our pocket. And a 2nd tax credit.

Oh, and both Premium AWD ER Rapid Red.

 

[Nadolwi]

Thanks everyone. I like the idea of taking delivery of the first one and then trading it on the second one. Since I am retired, I could take some money out my 401K to get to the 15K tax liability and essentially withdraw the money tax free. Thanks again, will definitely try to do this.

 

[Earplug]

You probably don't need to worry about the $15k liability. Two different tax years. One car delivered this 2022 and the other in 2023.

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