F-150 Lightning EV Tax Credits & Rebates - Discussions & Predictions

[Sdctcher]

My understanding is that it is dependent upon the purchase date of the vehicle, not when the tax return is filed.

Under the proposed law the credit is awarded delivery date (date of title).

The effective date of law would be purchases after January 1, 2022.

If the credit were to be changed to all EVs the amount would have to be reduced to $10,000 or $7,500 to fit in the budget.

Not sure the refundable credit part for 2022 will survive because it would be a heavy task for the IRS; that portion may be changed to no point of sale for 2022 but refundible in 2023.

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[sotek2345]

Under the proposed law the credit is awarded delivery date (date of title).

The effective date of law would be purchases after January 1, 2022.

If the credit were to be changed to all EVs the amount would have to be reduced to $10,000 or $7,500 to fit in the budget.

Not sure the refundable credit part for 2022 will survive because it would be a heavy task for the IRS; that portion may be changed to no point of sale for 2022 but refundible in 2023.

Making it refundable isn't that big of a task (just a change in a calculation). Making it available at the point of sale is much more challenging and likely what that portion is delayed until 2023.

 

[F150ROD]

Schumer says they now hope to pass this bill before Christmas. Come on Ford, let’s get ball rolling with the online configurator!

 

[sotek2345]

Schumer says they now hope to pass this bill before Christmas. Come on Ford, let’s get ball rolling with the online configurator!

I think the bill is a good thing for the country, but on a personal level, it is a very mixed impact. It's passage would mean that we would get a credit for my lightning (likely in 2023), but we would lose it for my wife's Mach-e (due to $55k MSRP cap) unless it get's delivered before the end of the year (it is still in Mexico and hasn't shipped yet).

 

[F150ROD]

I think the bill is a good thing for the country, but on a personal level, it is a very mixed impact. It's passage would mean that we would get a credit for my lightning (likely in 2023), but we would lose it for my wife's Mach-e (due to $55k MSRP cap) unless it get's delivered before the end of the year (it is still in Mexico and hasn't shipped yet).

I thought the Mach-E was considered an SUV and would fall under the $80k cap?

 

[sotek2345]

I thought the Mach-E was considered an SUV and would fall under the $80k cap?

EPA classifies it as a small wagon and the current language of the bill says they are to reference the EPA classifications when determining the credit.

 

[F150ROD]

EPA classifies it as a small wagon and the current language of the bill says they are to reference the EPA classifications when determining the credit.

Crap and I just put in an order for GT thinking it would qualify under SUV

 

[greenne]

EPA classifies it as a small wagon and the current language of the bill says they are to reference the EPA classifications when determining the credit.

Whoa... that's quite a big deal. Wonder if Ford will take any steps to get it reclassified as an SUV? Seems like an oversight on their part.

Maybe adjust pricing slightly on the Premium model with ER battery so it comes in under $55k? (FWIW a premium with AWD and ER battery--no options--MSRPs for $55,800 now)

On a related personal note I looked at the MME as replacement for my wife's old Escape Hybrid and came away unimpressed. The seat was uncomfortable for me--felt really cramped inside. The VW ID4 felt much better to me..also was about $6k cheaper. I'm a Ford guy so slightly bummed.

 

[sotek2345]

Whoa... that's quite a big deal. Wonder if Ford will take any steps to get it reclassified as an SUV? Seems like an oversight on their part.

Maybe adjust pricing slightly on the Premium model with ER battery so it comes in under $55k? (FWIW a premium with AWD and ER battery--no options--MSRPs for $55,800 now)

On a related personal note I looked at the MME as replacement for my wife's old Escape Hybrid and came away unimpressed. The seat was uncomfortable for me--felt really cramped inside. The VW ID4 felt much better to me..also was about $6k cheaper. I'm a Ford guy so slightly bummed.

Ours will be a replacement for my wife's Mini Countryman. We test drove a select trim and both loved it. (different bodies / different shapes). Wife loved the way it looked as well. We went to a GT because she really wanted the cyber orange color and we wanted an ER battery with the metal roof.

 

[Sgt Beavis]

EPA classifies it as a small wagon and the current language of the bill says they are to reference the EPA classifications when determining the credit.

Interesting. The Model Y is classified as an SUV. Aren't they very similar in size?

 

[sotek2345]

Interesting. The Model Y is classified as an SUV. Aren't they very similar in size?

They are. The EPA classifications make no sense. The Mini Countryman (much smaller than the Mach-e is also classified as an SUV.

 

[F150ROD]

Looks like there will be a Vote tonight in this bill on the House side.

 

[sotek2345]

Interesting. The Model Y is classified as an SUV. Aren't they very similar in size?

An another example, the Kia Niro is a small station wagon and the Hyundai Kona is an SUV - exact same platform!

 

[Sgt Beavis]

Looks like there will be a Vote tonight in this bill on the House side.

Looks like it got delayed. The GOP Minority Leader gave an 8 hour, 32 minute speech. And here I thought I talked a lot. ?

 

[F150ROD]

Passed the House on to the Senate

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