Future rebates/incentives?

[Jeremiahsai]

I just ordered my Mach E and supposedly it's coming in June. Does anyone know any future rebates or incentives that will knock down the price?

So far I received my pin for the X-Plan, turned in my 4 year degree to hopefully get around 750 back, and I think the state automatically bumps down the price to 750, along with the Federal tax credit (which I'll probably get around 3,000 off and no the full 7,500).

1. Federal Tax Credit 7,500

2. CVRP Increased Rebate 2,000
Cleanvehiclerebate.org/en/requirements/3092

3. California Clean Fuel Reward 750

4 . https://cleanvehiclegrants.org/

5. X-Plan = 600

Hopefully these are still available when the vehicle arrives. Any others I'm missing?

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[hybrid2bev]

Future incentives at Ford are guarded like state secrets. You’ll only find out on the day they are effective.

 

[yngwenli]

If I couldn't get the full tax credit, I'd probably try to lease for MSRP and see if they will apply the credit for me.

Getting 3k of the $7.5k is like missing out on $4.5k in incentives (which is a lot to me).

I have no clue how Ford is treating leases and if they do MSRP pricing, but I don't see why they shouldn't since Ford can take the credit themselves.

If you qualify, you can also get an extra $2500 for lower income. Someone here did that and got the $7.5k and $4.5k from CVRP (used different tax years).

 

[Bueller]

Getting my taxes done tomorrow. Hope I owe the feds $7,499.

 

[generaltso]

Getting my taxes done tomorrow. Hope I owe the feds $7,499.

$7,501 would be better.

 

[RockwallRick]

Getting my taxes done tomorrow. Hope I owe the feds $7,499.

Have not done mine yet, but I should be able get the full benefit.

 

[Maquis]

$7,501 would be better.

Once taxes are DONE (means credit has been applied), ideal would be zero. Mine is currently $528 pending some final 1099s.

 

[generaltso]

Once taxes are DONE (means credit has been applied), ideal would be zero.

Sure. But if you end up paying a tiny bit, then you know for absolute certain that you didn't leave any money on the table. Of course, that's not what I did. I'm getting a pretty sizable refund with two $7500 tax credits. But I often advise people not to do things the way I do.

 

[hybrid2bev]

If I couldn't get the full tax credit, I'd probably try to lease for MSRP and see if they will apply the credit for me.

Getting 3k of the $7.5k is like missing out on $4.5k in incentives (which is a lot to me).

I have no clue how Ford is treating leases and if they do MSRP pricing, but I don't see why they shouldn't since Ford can take the credit themselves.

If you qualify, you can also get an extra $2500 for lower income. Someone here did that and got the $7.5k and $4.5k from CVRP (used different tax years).

If you do a RCL (lease) then Ford will give you a higher residual value than Ford Options. This is how Ford is applying a portion of the tax credit towards leases.

The sales price of the vehicle (MSRP or not) is not dependent on which way you pay for the vehicle (lease, retail or all cash).

 

[nvabill]

Getting my taxes done tomorrow. Hope I owe the feds $7,499.

What you owe is irrelevant, it’s total federal tax for the year, if it’s $7500 or more you get the entire credit.

 

[Bueller]

What you owe is irrelevant, it’s total federal tax for the year, if it’s $7500 or more you get the entire credit.

I’m far from a tax expert, but that’s not my understanding. If you don’t owe the Feds, there’s no credit back. That’s what I think I thought I knew.

 

[JamesStew71]

I’m far from a tax expert, but that’s not my understanding. If you don’t owe the Feds, there’s no credit back. That’s what I think I thought I knew.

thats what I understand , what I make at my job is taxed, I get a small refund every year, so as I understand the credit will not apply to me

 

[macchiaz-o]

I’m far from a tax expert, but that’s not my understanding. If you don’t owe the Feds, there’s no credit back. That’s what I think I thought I knew.

Don't confuse what your liable to pay for the full 2021, versus what you've already underpaid or overpaid throughout that year.

Your liability matters for purposes of this credit, not what you have remaining to be paid.

 

[nvabill]

I’m far from a tax expert, but that’s not my understanding. If you don’t owe the Feds, there’s no credit back. That’s what I think I thought I knew.

There are a lot of people besides you who have a misunderstanding of the credit. Withholding during the year is irrelevant in the equation as to the credit. Total tax is the measuring stick, if it’s over $7500 you get the full credit even if that means getting a check back.

 

[nvabill]

thats what I understand , what I make at my job is taxed, I get a small refund every year, so as I understand the credit will not apply to me

Negative, it’s line 16 on your 1040 form, total tax, if it is $7500 or more you get the full credit even if uncle sugar has to cut you a check.

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