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

[sotek2345]

Agree on point 2... though I'm perfectly fine if they limit it to US built EVs. Almost all of the import OEMs have US factories they can leverage. For instance, VW is planning to build all of the US market EVs in Tennessee.

I have zero issues with workers organizing but many, in the southern states, simply don't want it. They are distrustful of the UAW. Frankly, after the recent scandals, they should be.



PREACH. I can easily take advantage of the tax credit. But it needs to be accessible to everyone. IMO, they just need to be careful of the income cutoff. Someone making $150K in New York isn't even upper middle class. Here in Denver, you can't even afford a house with that kind of income.

Yeah, and I have heard talk of pushing it down to $100k per family, and lately Manchin has been saying no programs for anyone making over $60k per household - and you also need to be working full time to get any benefit - very narrow range.

The MSRP caps are also worrying - especially the $40k limit that was floated. No lightning would qualify (destination fee would put the base Pro over the limit).

I wrote to all of my congressional reps to ask them to push to keep these limits out to focus on replacing as many ICE vehicles with EVs as fast as possible. For all that is worth.

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[BennyTheBeaver]

The MSRP caps are also worrying - especially the $40k limit that was floated. No lightning would qualify (destination fee would put the base Pro over the limit).

If the credit is based off the MSRP of the truck, would doc fees and any other fees really count against that limit?

If it doesn't, then Ford may see a ton of people buy the base model with no options.

 

[techguydave]

Yeah, and I have heard talk of pushing it down to $100k per family, and lately Manchin has been saying no programs for anyone making over $60k per household - and you also need to be working full time to get any benefit - very narrow range.

I have a few choice words for that guy, what an absolute waste of space he is. How many people with a combined income of 60k or less are gonna be buying a brand new EV at all? Might as well remove it entirely (which, obviously, is what he's after).

If the credit is based off the MSRP of the truck, would doc fees and any other fees really count against that limit?

If it doesn't, then Ford may see a ton of people buy the base model with no options.

Ford wouldn't want that at all. I think the Pro to consumers is a "get them in the door" loss leader, or at least a wash. Less people buying XLT and up would hurt them tremendously. I'm sure they'd use their lobbying power to ensure it doesn't go through with those heinous restrictions.

 

[Brian Head Yankee]

Just make the rebate a waiver of sales tax or a flat 10% and stop the games. It's no wonder our leaders on both sides are despised.

 

[greenne]

Yeah, and I have heard talk of pushing it down to $100k per family, and lately Manchin has been saying no programs for anyone making over $60k per household - and you also need to be working full time to get any benefit - very narrow range.

The MSRP caps are also worrying - especially the $40k limit that was floated. No lightning would qualify (destination fee would put the base Pro over the limit).

I wrote to all of my congressional reps to ask them to push to keep these limits out to focus on replacing as many ICE vehicles with EVs as fast as possible. For all that is worth.

1. Manchin is a piece of work. He's using the old GOP trick of "playing both sides of the fence" by supporting a credit but making it so restrictive no one can really use it. He's not fooling anyone. $60k is barely scraping by in high cost states like California and NY.

2. Everything I've seen so far is that it is "MSRP" so destination charge, doc fees, etc wouldn't count.

3. As was discussed in another thread....the current $7500 is thru 2 qtrs PAST when a mfr hits 200k. That puts Ford on a path to run out sometime mid 2023, unless they REALLY ramp up MME sales( as in more than double the amount they are selling now)

 

[BennyTheBeaver]

Just make the rebate a waiver of sales tax

Hey now...us Oregonians have an issue with this.

The 0% sales tax is SUPPOSED to offset our high Property and Income Tax.

 

[sotek2345]

1. Manchin is a piece of work. He's using the old GOP trick of "playing both sides of the fence" by supporting a credit but making it so restrictive no one can really use it. He's not fooling anyone. $60k is barely scraping by in high cost states like California and NY.

2. Everything I've seen so far is that it is "MSRP" so destination charge, doc fees, etc wouldn't count.

3. As was discussed in another thread....the current $7500 is thru 2 qtrs PAST when a mfr hits 200k. That puts Ford on a path to run out sometime mid 2023, unless they REALLY ramp up MME sales( as in more than double the amount they are selling now)

Agreed on all of the above. That said - based on current reservations, that means over half of current reservation holders would get a reduced credit under existing rules. (~60k production through June 2023 and less than that delivered).

 

[KR17601]

No, it's based on ALL EVs an OEM sells. The new Hummer doesn't qualify for the EV credit because Chevy sold a lot of Bolts and other EV/PHEVs.

Ok but the isn't the caveat for the tax credit the vehicle has to be made 100% in the US, thus the Lightning is being manufactured in Michigan ?

 

[sotek2345]

Ok but the isn't the caveat for the tax credit the vehicle has to be made 100% in the US, thus the Lightning is being manufactured in Michigan ?

No - the current credit applies to any EV or PHEV sold.

 

[greenne]

No - the current credit applies to any EV or PHEV sold.

The MME is being "made" in Mexico. Rumors are the upcoming Explorer EV will be manufactured in the same Mexican plant.

 

[jbirdzee]

If this package (or some form of it) passes this year, it would essentially supersede the present 7500, right? So there stands a chance that these proposed restrictions on income, etc could end up making the existing credit go away for some of us even though Ford hasn't burned through their 200k allotment. Do i have that right, or does the existing credit and it's associated restrictions last until the 200k mark, then the new one kicks in?

 

[sotek2345]

If this package (or some form of it) passes this year, it would essentially supersede the present 7500, right? So there stands a chance that these proposed restrictions on income, etc could end up making the existing credit go away for some of us even though Ford hasn't burned through their 200k allotment. Do i have that right, or does the existing credit and it's associated restrictions last until the 200k mark, then the new one kicks in?

The current proposals would do away with the current credit and replace it, but who knows what comes out the other end.

 

[Oneand0]

If you buy two Lightnings, can you put in for tax credit on both? If I paid enough in taxes that cover $7500 for both! I reserved one for my father and one for me. But they are both in my name and he doesn’t pay enough in taxes. I doubt it! I don’t know.

 

[greenne]

If you buy two Lightnings, can you put in for tax credit on both? If I paid enough in taxes that cover $7500 for both! I reserved one for my father and one for me. But they are both in my name and he doesn’t pay enough in taxes. I doubt it! I don’t know.

I don't know for sure(and would always suggest you consult a tax professional), but the form has spaces for two vehicles labeled Vehicle1 and Vehicle 2. This suggests you can take credit for two if your tax liability supports it.

Of course this is all subject to chance if the credit is revised.

 

[Diabolical!]

If you buy two Lightnings, can you put in for tax credit on both? If I paid enough in taxes that cover $7500 for both! I reserved one for my father and one for me. But they are both in my name and he doesn’t pay enough in taxes. I doubt it! I don’t know.

I was able to claim two EV tax credits in 2017 without any issue.

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