$7500 Credit for Gravity Leases

Considering the huge costs we're already seeing from climate change, theres an argument to be made that incentivizing a faster shift away from fossil fuels is fiscally prudent. Otherwise future generations will be stuck paying for even more dramatic climate problems.
Well, that's one theory anyway. :cool:

Whether one feels they were good public policy or not wasn't what I was referring to, just that it's a whole lot easier to spend other people's money than your own. Reinforcing the previous posters point that they probably won't be as high as $7500 if the automaker has to use their money.
 
Well, that's one theory anyway. :cool:

Whether one feels they were good public policy or not wasn't what I was referring to, just that it's a whole lot easier to spend other people's money than your own. Reinforcing the previous posters point that they probably won't be as high as $7500 if the automaker has to use their money.
Well sure, governments spend money in an attempt to achieve some policy goal. Companies spend money chasing sales and profits. Incentives worth $7500 from manufacturers certainly aren't unheard of. But they only offer them if they feel they have to, and for the moment there's no sign of that with the Gravity.
 
Well sure, governments spend money in an attempt to achieve some policy goal. Companies spend money chasing sales and profits. Incentives worth $7500 from manufacturers certainly aren't unheard of. But they only offer them if they feel they have to, and for the moment there's no sign of that with the Gravity.
is this a sign?
 
is this a sign?
I think that's less a sign of them trying to attract new buyers than it is a sign of them trying not to lose existing buyers that ordered a Gravity before the termination of the federal credits (made official in July). Some of those buyers undoubtedly ordered under the premise they would be able to lease and get the credit. Without that, some would likely just cancel their orders. Given the roughly 6-month lag between Gravity order and delivery, they probably felt they needed to "extend" that credit to the ramp-up of deliveries they expect to fulfill in the 4th quarter. By then, those pre-July orders should be filled.
 
PCMAG had the following : The new tax bill text says EVs must be "placed in service" by Sept. 30 to claim the credit, which was interpreted to mean you had to take ownership of the vehicle by then. However, guidance issued by the IRS on Aug. 21 says people only need to have a "written binding contract in place and a payment made" by Sept. 30 to claim the credit.
That simplifies things for shoppers since automakers like Tesla and Acura sell their electric cars online, with varying delivery timelines. EV buyers must get "a time of sale report from the dealer" within three days of receiving the car. They should receive the credit when they purchase the car, which they'll report on their taxes next year.
I’ve never read the guidance so I don’t know if this is true or not but maybe Lucid can do this?
Yes my interpretation of it was if I placed a lease order and cut a 1K check for deposit to start the lease before the end of the year the credit would take....
 
Yes my interpretation of it was if I placed a lease order and cut a 1K check for deposit to start the lease before the end of the year the credit would take....
I really don't know, but I would be concerned about a simple order + $1000 deposit meeting the "binding contract" requirement. Binding typically means you're contractually locked into to the full purchase and can't back out. A simple order just means the car is reserved for you but you still have the choice to back out and not complete the purchase when it arrives (even if it goes to production and you lose the $1000 deposit).

I would think it would take a full commitment (a signed and committed lease.)

At least that would be my interpretation.
 
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