What is this incentive I see? EV Tax Credit Customer Satisfaction Bonus Cash $7500

[pc500]

I see this on a random dealers website as a discount off MSRP. It's probably in error, but what is this?

EV Tax Credit Customer Satisfaction Bonus Cash $7500

Incentive ID: 26328937

Expiration: 2023-04-03

Amount: $7500

EV Tax Credit Customer Satisfaction Bonus Cash

Qualifying residents of the United States

EV Tax Credit Customer Satisfaction Bonus Cash

Rule of '10' and Standard Rules of Eligibility applies.

Sponsored

 

[KevinC]

I could see where they might do that for a Demo that was put in service.

 

[Monkey]

The 2023 tax credit allows for it to be applied at the point of sale! That's what it's about. You will get a tax statement from the dealership showing it was applied at the time of sale and then you file it with your tax return. If you qualify for the full credit, this is great because you can claim it against the purchase price of your vehicle and not have to wait for a refund later. If you can't utilize the full credit, you may owe the IRS some money when you file...

EDIT> Nevermind... I got ahead of myself. The point of sale credit doesn't start until 2024.

 

[pc500]

T

The 2023 tax credit allows for it to be applied at the point of sale! That's what it's about. You will get a tax statement from the dealership showing it was applied at the time of sale and then you file it with your tax return. If you qualify for the full credit, this is great because you can claim it against the purchase price of your vehicle and not have to wait for a refund later. If you can't utilize the full credit, you may owe the IRS some money when you file...

This doesn't make sense with the expiration date, and it on a platinum.

 

[Monkey]

T

This doesn't make sense with the expiration date, and it on a platinum.

Yeah, I got ahead of myself. The point of sale option for the federal tax credit does not begin until 2024. I noted the goof above.

This is probably a service/demo fleet mannequin that the dealer shad to license and took the tax credit. They're going to apply that as a bonus cash incentive for the buyer. The incentive probably has an expiration date because they always do -- give themselves a way out or way to restructure if they need to at the start of next quarter.

 

[pc500]

Yeah, I got ahead of myself. The point of sale option for the federal tax credit does not begin until 2024. I noted the goof above.

This is probably a service/demo fleet mannequin that the dealer shad to license and took the tax credit. They're going to apply that as a bonus cash incentive for the buyer. The incentive probably has an expiration date because they always do -- give themselves a way out or way to restructure if they need to at the start of next quarter.

It's a customer cancelled order from my understanding.

 

[metroshot]

It's a customer cancelled order from my understanding.

It's either a discount from the dealer (unlikely) or Ford changed their RCL terms or more likely a 3rd party lease offer.

Call the dealer and ask because unless Ford has changed their Red Carpet Lease terms (unlikely), the only way a company can offer this discount is thru IRS 45W for commercial companies that qualifies for the tax credit.

3rd party lease companies like: US Bank, Ally, Satander - might be passing the tax credit to the leasee by reducing the net cap cost on a lease contract.

 

[KevinC]

If you provide a link to the site people might have a better chance to provide insight.

 

[pc500]

https://www.budclaryfordofmoseslake...atinum-awd-crew-cab-pickup-1ft6w1ev0pwg14444/

 

[metroshot]

Looks like dealer is marking up $15K then offering $7500 back.

Call it what they want "cash back for over charging"...

Gee - what a deal - still $7500 over MSRP..

 

[pc500]

Looks like dealer is marking up $15K then offering $7500 back.

Call it what they want "cash back for over charging"...

Gee - what a deal - still $7500 over MSRP..

I get it but it is worded like it has a incentive ID directly from Ford and I'm more interested in the incentive than the dealers tactics

 

[TaxmanHog]

I get it but it is worded like it has a incentive ID directly from Ford and I'm more interested in the incentive than the dealers tactics

It's Bull Sh1t

 

[metroshot]

I get it but it is worded like it has a incentive ID directly from Ford and I'm more interested in the incentive than the dealers tactics

It's not an incentive from Ford Motor Co.
There is no incentive - it's a marketing ploy to get you into the dealership.

Another way of looking at it: making you feel better about an incentive that really isn't there.

With such a high price tag, over the $80K MSRP, it does not qualify for a tax credit.

The dealer will just say to you: "don't worry we will credit the $7500 immediately instead of a tax credit that you have to wait for....".

BTW: I think your state AG or FTC might be interested in the wrong use of "MSRP" which is incorrect...

 

[bmwhitetx]

Looks like dealer is marking up $15K then offering $7500 back.

Call it what they want "cash back for over charging"...

Gee - what a deal - still $7500 over MSRP..

And now we know the rest of the story. Nothing to see here after all.

 

[Maquis]

All I can add is “I wouldn’t go anywhere near that dealership.”

Sponsored