7500 Credit is really a rebate

[HHI]

I will be taking delivery in about 2 weeks of a touring paying cash. Filling out the purchase agreement the net price is listed without the $7500 credit being reflected. In otherwords, the credit is being treated as a rebate after the sale… I live in SC where the sales tax is capped at $500 but this could be a problem for others who will have to pay sales tax on the higher MSRP before the “rebate” is reflected. Not sure why Lucid doesn’t just reflect the $7500 right off the MSRP to avoid this problem for cash purchasers.

Anyone else run into this?

Hilton Head

 

[elin]

Mine showed a line with "AIR CREDIT" where it deducts the $7500. Like stated in another thread, the credit is applied after sales tax.

 

[dwfallin]

yup - me as well, and since i'm not financing through lucid i gotta pay the full sales tax when i go get a license. at least i wont have to worry about any mixups in sending of license plates! would've been nice to knock the $7500 off the top, but i think its an accounting thing, they can still claim the gross sales or something like that.

 

[Halodde]

I agree that it probably has something to do with their accounting. It must be more beneficial to them to realize that $7500 as revenue and then give it back. But I won't pretend to understand why that is lol

 

[Ryan]

Question on the 7500 rebate: Does this not apply to Lucid's that have the metal roof? I purchased a GT on 12/22 and the 7500 rebate was honored, and now I will be taking delivery on a 2nd Lucid Pure, but am hearing that the 7500 does not apply to the metal roof configuration. Anyone else run into this?

 

[ebr]

I will be taking delivery on a 2nd Lucid Pure, but am hearing that the 7500 does not apply to the metal roof configuration

I think you are disqualified from the promotion in two ways. First, it doesn't apply to the Pure:

This limited time offer is available for select configurations of Lucid Air Touring and Air Grand Touring models

And then, further restrictions:

• Offer not applicable to Lucid Air vehicles with Stealth Look, PurLuxe interior, or Metal roof.

 

[Dslee68]

Delivery of my Lucid is in a few weeks! I just looked on my Order details and saw an "EV Credit" of $7500. Is this the same as the Air Credit? I was hoping to lease the car to take advantage of the $7500 Tax Credit but there is a blurb on my Order Details that says the Air Credit is only good for purchases.

 

[Bobby]

Delivery of my Lucid is in a few weeks! I just looked on my Order details and saw an "EV Credit" of $7500. Is this the same as the Air Credit? I was hoping to lease the car to take advantage of the $7500 Tax Credit but there is a blurb on my Order Details that says the Air Credit is only good for purchases.

It’s essentially a discount and has nothing to do with taxes.

 

[BerkeleyLeaser]

For my 2 year lease the $7500 was listed as a capitalized cost reduction.

 

[chachacha]

I live in WA so I have to pay the tax at the DMV. Tax is ~10%

Does that mean I'm paying tax on $99k subtotal or on 92,925? Or something in between? I'm confused how the tax is computed. From my purchase agreement/

Subtotal - 99k
Air credit +7500
Destination Fee - 1650
Documentation Fee - 75.00
Deposit + 300

Total = $92,925

 

[off]

Does that mean I'm paying tax on $99k subtotal or on 92,925? Or something in between? I'm confused how the tax is computed. From my purchase agreement/

Unfortunately the tax will be calculated from the subtotal.

 

[Scoop34]

I think you are disqualified from the promotion in two ways. First, it doesn't apply to the Pure:



And then, further restrictions:

Any idea on why the Stealth, PureLuxe and metal roof were deal-breakers?

 

[off]

Any idea on why the Stealth, PureLuxe and metal roof were deal-breakers?

They had already produced the non-stealth, glass canopy Tourings and GT’s and wanted to reduce inventory.

 

[Scoop34]

They had already produced the non-stealth, glass canopy Tourings and GT’s and wanted to reduce inventory.

Appreciate the reply.