7500 EV tax credit update with new bill

[Bunnylebowski]

If you think about it.....The SUV's and Trucks are the biggest polluters/gas hogs on the road. Giving folks an incentive to get an EV truck/SUV and remove the ICE versions will help us all in the long run. That being said .... I totally understand and sympathize with your points!

Yeah fair point, it's one step forward, 1/2 step back. I guess it's like climate change harm reduction? ICE SUV = heroin, EV SUV = suboxone?

 

[Impatient7536]

Gotcha. I was wondering if that was for only for GT as well. Once you find out about the Pure to Touring upgrade/tax credit situation let me know so I can update my other post.

Just confirmed my order for Pure. Don't know if Lucid will let me to upgrade to Touring later. It'd be great if I still can upgrade. But I'll still be happy with the Pure if not.

got a response from my SA, here's pretty much the main points

1) we do not need to finalize the vehicle design. final configuration and design can be placed once production begins
2) "Should you confirm your Air Pure order and wish to upgrade after receiving your invite to order you may upgrade and remain eligible, considering the order is confirmed by no later than August 12th." - i assume this means, if we confirm the pure order now, and months later, they start touring production and we want to upgrade, we will be able to upgrade and keep original pricing AND the tax credit, assuming that we did this current "deposit lock-in confirmation" before August 12th.

 

[EVCar]

Yeah fair point, it's one step forward, 1/2 step back. I guess it's like climate change harm reduction? ICE SUV = heroin, EV SUV = suboxone?

Suboxone? Someone must be a PCP or first responder.

 

[Bunnylebowski]

Suboxone? Someone must be a PCP or first responder.

Hahaha, anesthesiologist.

 

[Chizle]

I wonder if your production que position is based on confirmation date/time in any way?
Waiting a few hours today to confirm could cost you months to receive the car, lol.

 

[EVCar]

Hahaha, anesthesiologist.

The indispensable!

 

[Bunnylebowski]

The indispensable!

Haha, blame anesthesia!

 

[jpaulsaini]

It all looks great but did anyone pay attention to the word? "may"

Which is not guaranteed that you will get the $7,500 tax credit.

 

[EVCar]

Haha, blame anesthesia!

Nah. The operator owns it no matter what. That’s always my teaching.

 

[Bunnylebowski]

Nah. The operator owns it no matter what. That’s always my teaching.

I always just blame the patient. Especially if it involves a bad smell. In all seriousness though, if it's a carpal tunnel and something goes wrong it's probably our fault. But if it's a thoracic or cardiac case... OK sorry back to this stupid EV tax bill. At least it's increasing Lucid's orders! I guess it's an awesome bill after all precisely because it's a bad bill. Everyone on the fence about an EV sedan over $50K is going to pounce on them in the next two days if the manufacturers allow it.

 

[rbbarry]

It all looks great but did anyone pay attention to the word? "may"

Which is not guaranteed that you will get the $7,500 tax credit.

 

[noobzilla]

It all looks great but did anyone pay attention to the word? "may"

Which is not guaranteed that you will get the $7,500 tax credit.

View attachment 4002

You can blame me on that one haha. I told the Sales VP to word it in such way as to not guarantee the tax credit but that having an option to confirming orders is still much better than doing nothing at all.

 

[noobzilla]

Now I wonder if these tax credits will go into our 2022 tax returns or 2023 if it gets delivered in 2023?

Going to answer my own question.

Instructions for Form 8936 (2023) | Internal Revenue Service

www.irs.gov

Key word is "placed in service" which is technically the date we acquire and drive the vehicle. They also gave an example:

The credit for qualified two-wheeled plug-in electric vehicles expired for vehicles acquired after 2021. However, if you acquired the two-wheeled vehicle in 2021, but placed it in service during 2022, you may still be able to claim the credit for 2022. Do not report two-wheeled vehicles acquired after 2021 on Form 8936 unless the credit is extended.

 

[EVCar]

I always just blame the patient. Especially if it involves a bad smell. In all seriousness though, if it's a carpal tunnel and something goes wrong it's probably our fault. But if it's a thoracic or cardiac case... OK sorry back to this stupid EV tax bill. At least it's increasing Lucid's orders! I guess it's an awesome bill after all precisely because it's a bad bill. Everyone on the fence about an EV sedan over $50K is going to pounce on them in the next two days if the manufacturers allow it.

It’s teamwork, and everyone keeps an eye for each other. The rising tide lifts all boats, as they say. And litigators believe in equal opportunity for everyone.

 

[DaveyBoyGT]

Looks like I will have to make my decision very soon whether to go for Touring or Pure. My stock bet hasn't gone up enough for me to reasonably afford a Touring... but those glass top I like them so much it feels so futuristic. I might have to sell a kidney and just go for the Touring.

Go for the touring. You only need one kidney. LOL!

 

[Tesla2.0]

I got sucked in as well….

 

[Psymac]

Not sure I understand. I can only get glass top from Touring or higher trims. If there's option to get that with Pure then I'll go with Pure for sure.

Sorry, my bad, just Touring has that option.

 

[Steveinarizona]

I got sucked in as well….

View attachment 4011

Me too. A simple calculation. If I don't go through with a purchase, I lose $300; if I do go through, there is a chance at $7,500. Seems a worthwhile decision.

 

[LCIDdreams]

Me too. A simple calculation. If I don't go through with a purchase, I lose $300; if I do go through, there is a chance at $7,500. Seems a worthwhile decision.

I went ahead and did it. I’m fairly sceptical this will work (I.e. does a $300 non refundable deposit on a $77k vehicle that is not yet configured, let alone VIN assigned, really bind me to a purchase agreement?) but will be happy to be pleasantly surprised if it does.

 

[Don1942]

Confirmed my order for the Touring. Now the wait begins. Thank you Lucid for getting the bugs and kinks worked out while I am waiting. Nice to have this community to commiserate with during the great wait!