✅ 11/28 Lightning Build Week Group (MY2023)

[Jer]

I am not sure how taxes work on a big company such as Ford

But in our small company we try hard as hell to get everything we can out the door before the new year so we do not have to pay tax on items in inventory.

I bet they do all they can to get all they can off the books before year end.

Yes, but for Ford it isn’t just out the door, but delivery has to be made to the dealership. They own and are responsible until unloaded at the dealership. At least that is what I was told some time ago. Hence why the dealerships can’t go pickup from the train yard, even if across the street.

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[theblunden]

O

I was bumped to build week 12/5, perhaps as comeuppance for being a wise guy about the end of Daylight Saving Time.

Only laughing over daylight savings time joke

 

[AkayRiviannnn07]

My build just got pushed back by a week...there goes the small chance of getting the tax credit this year...

 

[jimfigler]

It's going to be tight AF but I have my fingers crossed. Not holding my breath though.

I read if you pay at least 5% of the total bill you then that constitutes a binding offer with intent to purchase. Any idea if dealers are taking larger down payments? I'm probably grasping at straws but I am going to be annoyed if my truck comes the first week of Jan.

(https://www.irs.gov/businesses/plug-in-electric-vehicle-credit-irc-30-and-irc-30d)

IF you read the whole link you post to IRS. You can see the binding contracts had to be completed prior to 8/16/22.

Transition Rule for Vehicles Purchased before August 16, 2022
If you entered into a written binding contract to purchase a new qualifying electric vehicle before August 16, 2022, but do not take possession of the vehicle until on or after August 16, 2022 (for example, because the vehicle has not been delivered), you may claim the EV credit based on the rules that were in effect before August 16, 2022. The final assembly requirement does not apply before August 16, 2022.

Vehicles Purchased and Delivered between August 16, 2022 and December 31, 2022
If you purchase and take possession of a qualifying electric vehicle after August 16, 2022 and before January 1, 2023, aside from the final assembly requirement, the rules in effect before the enactment of the Inflation Reduction Act for the EV credit apply (including those involving the manufacturing caps on vehicles sold). If you entered into a written binding contract to purchase a new qualifying vehicle before August 16, 2022, see the rule above.

What Is a Written Binding Contract?
In general, a written contract is binding if it is enforceable under State law and does not limit damages to a specified amount (for example, by use of a liquidated damages provision or the forfeiture of a deposit). While the enforceability of a contract under State law is a facts-and-circumstances determination to be made under relevant State law, if a customer has made a significant non-refundable deposit or down payment, it is an indication of a binding contract. For tax purposes in general, a contract provision that limits damages to an amount equal to at least 5 percent of the total contract price is not treated as limiting damages to a specified amount. For example, if a customer has made a non-refundable deposit or down payment of 5 percent of the total contract price, it is an indication of a binding contract. A contract is binding even if subject to a condition, as long as the condition is not within the control of either party. A contract will continue to be binding if the parties make insubstantial changes in its terms and conditions.

 

[matt.sillz]

Thanks.

 

[ONURPH]

First post for me. 23 XLT SR scheduled for build week of 11/28

 

[mattb]

dang! bumped to 12/5 today. bye.

 

[theblunden]

Bumped to 12/5 smh

 

[gymgeek]

Dang! Dropping like flies! Did you guys get an email or just have to look at your order on ford.com? Wondering if I need to keep checking up on it

 

[theblunden]

Dang! Dropping like flies! Did you guys get an email or just have to look at your order on ford.com? Wondering if I need to keep checking up on it

Looked it up on Ford

 

[Fastnf]

Yep I was bumped to 12/5 as well

 

[Technoman]

Yup my 11/28 is now 12/5. To actually have the darn production order after this circus is very acceptable. I just feel for the guys downstream that are waiting for the invite and the ordering with no clue when it will happen. I can tax plan now for 23 delivery.
Cheers and good luck to everyone !

 

[matt.sillz]

I just got bumped UP a week. I'm now 11.21.

Good luck everyone. Heading over to that thread.

 

[ONURPH]

I was moved from 11/28 to 12/5

 

[256fail]

Mine is still holding tight at 11/28.

I’m not sure what I’m worried more about, the possibly loss of tax credit or my trade in/resale value of my 22 powerboost ha.

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