TIFU my reservation

DBC

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Get your incentives straight!
FTC+CVAP+CVRP+CCFR+Local/Utility incentives+AXZ plan

Guess I'm getting a Model 3..
You may want to spend some time looking more closely at these programs. My guess is the dealer thinks you're not a serious buyer. That seems warranted given you've waited until the MME arrives before thinking about applying for CVAP, which, as you mention, might take longer than three months.

As for FTC and CVAP and/or enhanced CVRP, very difficult for someone to have sufficient federal income to be able to use a $7500 federal tax AND not enough income so as to qualify for CVAP or enhanced CVRP. This is particularly problematic because the FTC uses only taxable income while CVAP and enhanced CVRP use taxable and non-taxable income. Finally, CVAP is particularly problematic since not everyone who qualifies for CVAP will get CVAP. It's an award not an entitlement.

The CCFR is a point of sale rebate that isn't income dependent. Your dealer has chosen to participate -- not all have -- so it has done its part.

XYZ price plans are from Ford. Did you make any provision for qualifying for those?
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Eosin

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Reading the title and original post feels a lot like reading a text between two 14 year old girls. Way too many acronyms and abbreviations.

Also, capitalization and punctuation would help a lot.

Consider the following sentences.

"Let's eat, Grandma!"
Or...
Let's eat Grandma!

Punctuation saves lives... And makes reading texts much easier.
 

theRealDevo

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Well... Then those people will probably be out of getting full $7500 tax credit - you win some you loose some.
If you are applying for a grant for the car, do you even have the tax liability to apply the credit to?
 

Eosin

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Well... Then those people will probably be out of getting full $7500 tax credit - you win some you loose some.
Well, not exactly. This would be a good time to take an extra withdrawal aka distribution from a 401k or IRA retirement account. The $7500 tax credit can be used to cancel out the taxes on the distribution.

Although after reading the original post I suspect Bottle is not a retiree. I could be incorrect thought as that conclusion is based purely on stereotypes made upon reading his texts.
 
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mburtsvt

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Yeah, right... That's pretty interesting idea for a couple with less than $68K annual income to buy $50K+ vehicle. I admire those brave people... I definitely is not one of those, so, I do not think I am leaving anything on a table with CVAP "assistance program".
It does require a financial approach. I live in the east bay as well and I am retired. A good financial planner helped me keep my yearly income low while still having additional money for day to day expenses. I do qualify for the grant.
 


supertramp

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Well, not exactly. This would be a good time to take an extra withdrawal aka distribution from a 401k or IRA retirement account. The $7500 tax credit can be used to cancel out the taxes on the distribution.
Ok... What I am trying to say is that this situation with having all the rebates at max value would only apply to limited number of buyers - most of us cannot qualify for $7500 tax credit and get max in CVAP assistance program at the same time - I have a hard time to imagine a working person in California who is making less than $68K (with a spouse) - buying a $50K+ car should be their least concern in that case...
 
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mburtsvt

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If you are applying for a grant for the car, do you even have the tax liability to apply the credit to?
Yes... in my case I will take what I need out of a taxable IRA to cover the $7500 credit. this year. It's like taking a IRA withdrawal with no tax, (up to 20% tax liability). Again - get a good financial /tax adviser.
 

mburtsvt

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Ok... What I am trying to say is that this situation with having all the rebates at max value would only apply to limited number of buyers - most of us cannot qualify for $7500 tax credit and get max in CVAP assistance program - I have a hard time to imagine a working person in California who is making less than $68K (with a spouse) - buying a $50K+ car should be their least concern in that case...
You are correct, but many can, even where I live in California. Of course I'm retired, so that helps....
 

Eosin

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I have a hard time to imagine a working person in California who is making less than $68K (with a spouse) - buying a $50K+ car should be their least concern in that case...
Agreed
 

supertramp

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Yes... in my case I will take what I need out of a taxable IRA to cover the $7500 credit. this year. It's like taking a IRA withdrawal with no tax, (up to 20% tax liability). Again - get a good financial /tax adviser.
Yeah, and get retired too - to use all these privileges from you good financial adviser :)
 

mburtsvt

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Had a ton of time to do research and get it done but oh well- gotta do what you have to do. No way they will sit on that car for 3 months. I did all my research on any incentives, rebates, tax credits even before I reserved. Didn't want to leave any money on the table on such an expensive car.
Everyone had all the time in the world to make sure they would get the maximum benefits from the dealer, state programs, federal programs, and local programs. My personal goal is to get at least 12K in total rebates and grants off of the car.
 

Orangefirefish

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Well... Then those people will probably be out of getting full $7500 tax credit - you win some you loose some.
Here's the thing though- the CVAP is all based on prior year income/returns. So all you'd have to do is qualify for it now, and since it's still early in the year, create a bunch of tax liability from taking distributions or converting IRAs/401Ks, so you don't miss out on the full federal benefit. That is of course, if you have those weapons in your arsenal. Selling stock and other capital gains are a-OK too.
 

theRealDevo

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Yes... in my case I will take what I need out of a taxable IRA to cover the $7500 credit. this year. It's like taking a IRA withdrawal with no tax, (up to 20% tax liability). Again - get a good financial /tax adviser.
Ahh thank you for the clarification, I was thinking of a working family that would qualify for the grant, I wouldn't think they would have a tax bill to deduct the 7500 credit from. Is it me or does this grant in some way incentivizes folks to make some risky decisions with their finances?
 

EVS

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Reading the title and original post feels a lot like reading a text between two 14 year old girls. Way too many acronyms and abbreviations.

Also, capitalization and punctuation would help a lot.

Consider the following sentences.

"Let's eat, Grandma!"
Or...
Let's eat Grandma!

Punctuation saves lives... And makes reading texts much easier.
That was my thought too. That kind of chat with half-words doesn't prove what parties were involved in the conversation. It could be just a chat between two teens.

A member who joined in August but has just 2 posts isn't much of a fan of Mach-e. I am not saying the OP is, but he sure sounds like a Tesla fanboy/troll.
1. If it takes 3 months for CVAP. then he has to wait that long for a Model 3 also. Correct? It's not like Tesla's Musk has superpower over CARB to approve his rebate application in a day. Or maybe he does. Who knows? A multi-billionaire has a lot of power.
2. In 3 months, there will be plenty of Mach-es available on dealer lots at or below MSRP. There is no reason to switch to a Model 3, a much smaller sedan, for this excuse. Unless OP's mind was already made up for some other reason.
 
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Orangefirefish

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Ahh thank you for the clarification, I was thinking of a working family that would qualify for the grant, I wouldn't think they would have a tax bill to deduct the 7500 credit from. Is it me or does this grant in some way incentivizes folks to make some risky decisions with their finances?
Unfortunately... at that point I think those risky decisions would have already been made long before the purchase of a vehicle was considered.
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