Gravity Delivery Discussion

[Jackles]

So, it sounds like you can get the $7,500 lease credit after September 30th as long as a down payment & “written binding contract” was made prior to that (acquired), and then if the vehicle being put in service after Sept. 30th it is covered. Correct? I made a $1,000 down payment for a DE. I don’t recall entering into a written binding contract, but I was told DE deposits were non-refundable, and undoubtably I clicked through on something that could be considered an agreement. I haven’t determined whether I’m leasing or buying. (I was planning on buying, but the issues @hmp10 is having is making me reconsider leasing.)

Hmm, Lucid states they’re extending the $7500 credit through December. Regardless of who it’s coming from as long as we place the order before September and take delivery before EOY, we will get the credit if leased.

 

[RandomDesign]

So, it sounds like you can get the $7,500 lease credit after September 30th as long as a down payment & “written binding contract” was made prior to that (acquired), and then if the vehicle being put in service after Sept. 30th it is covered. Correct? I made a $1,000 down payment for a DE. I don’t recall entering into a written binding contract, but I was told DE deposits were non-refundable, and undoubtably I clicked through on something that could be considered an agreement. I haven’t determined whether I’m leasing or buying. (I was planning on buying, but the issues @hmp10 is having is making me reconsider leasing.)

When you place an order you had to digitally "sign" your contract, you should have been emailed a copy at that time and there should be a copy in your portal under "Designs & Orders" (click the ... next to your order). The copies don't have a signature but you had to type in your name as a digital sig at the time you placed it.

 

[dbsb3233]

When you place an order you had to digitally "sign" your contract, you should have been emailed a copy at that time and there should be a copy in your portal under "Designs & Orders" (click the ... next to your order). The copies don't have a signature but you had to type in your name as a digital sig at the time you placed it.

I'm no tax expert, but I'd be surprised if that qualifies. An order is not a binding contract committing you to spend ~$100k on the vehicle, it's only binding for the $1000 deposit. And even then, only after the vehicle moves to the production stage (I think the deposit is refundable before that).

At least that's the way I would read it. Of course, with anything IRS, it just depends on how *they* interpret it, and how thoroughly they check your tax return.

 

[Ron_Burgundy]

My SA is attempting to arrange a Saturday at home delivery for me. Car has cleared inspection in Roswell, as of this morning. (Roswell, GA -- it's not in Area 51, afaik.)

I'm no tax expert, but I'd be surprised if that qualifies. An order is not a binding contract committing you to spend ~$100k on the vehicle, it's only binding for the $1000 deposit. And even then, only after the vehicle moves to the production stage (I think the deposit is refundable before that).

At least that's the way I would read it. Of course, with anything IRS, it just depends on how *they* interpret it, and how thoroughly they check your tax return.

No one who buys the Gravity is qualifying for the sale credit due to the cost. So it’s only applicable for leases and that’s on Lucid Finance/BofA if they do/don’t get the credit.

Regardless, Lucid will reduce the price by $7,500 for leasing even post 9/30. I don’t think we need the full blown tax analysis or to cite IRS literature. That said, maybe I am missing something.

Lucid is doing this to match Tesla and to try to maintain the demand side. It’s really not relevant what the IRS is doing or how they will account for it.

 

[Disco Marathon]

Oh this one didn’t have a HUD either so it must have been someone else’s.

Maybe Lucid can adjust options when transferring orders? For example, if I cancel an order that’s scheduled to start production and has a trailer hitch, and you are waiting for the same order except without a trailer hitch, and nobody else is waiting for the exact same order with the trailer hitch, then Lucid transfers the order to you and when the unit is in production simply won’t install the trailer hitch.

 

[dbsb3233]

No one who buys the Gravity is qualifying for the sale credit due to the cost. So it’s only applicable for leases and that’s on Lucid Finance/BofA if they do/don’t get the credit.

Regardless, Lucid will reduce the price by $7,500 for leasing even post 9/30. I don’t think we need the full blown tax analysis or to cite IRS literature. That said, maybe I am missing something.

Lucid is doing this to match Tesla and to try to maintain the demand side. It’s really not relevant what the IRS is doing or how they will account for it.

Yes, I was talking about the federal lease loophole tax credit that expires Sept 30, but now extends to deliveries received by the end of the year IF there's a binding contract + first lease payment pre-paid. I thought that's what the previous poster was referring to.

The Lucid $7500 lease incentive is a different thing, as I understand it. But you're right, that's likely to be the one people would go for now.

Makes it kinda confusing having multiple programs in effect at the same time to know which one people are referring to.

 

[Allnatt]

I spoke with my SA today, and he told me my GGT is at the Arizona plant sitting outside awaiting shipment, but the portal still shows ‘In Production.’ When I asked how long before it ships, he said there’s no ETA — not even a ballpark. I’m not sure if he’s just telling me the car is ready to make me feel better, or if it’s actually finished. I’ve been asking for an ETA since it went "In Production".
I am located in NJ.

Just got a txt from my SA that my Gravity has shipped and begun inspections. She now gives me a 1-3 week window.

 

[JeffV1]

Just got a txt from my SA that my Gravity has shipped and begun inspections. She now gives me a 1-3 week window.

Hi. When did you order yours? Is it Grand Touring or Dream?

 

[Allnatt]

Hi. When did you order yours? Is it Grand Touring or Dream?

It's a Grand Touring. Ordered July 18th, started production August 23rd, completed production Sept 4th, shipped Sept 11th.

 

[iorchii]

It's a Grand Touring. Ordered July 18th, started production August 23rd, completed production Sept 4th, shipped Sept 11th.

Specs?