Moving on from Lucid

[borski]

I don’t believe so…. how would the IRS even check into that.

Audit. Same way they’d check up on whether you used the grid to charge your batteries if you took the ITC credit. Can only use solar to charge for five years.

 

[Nogasjustcords]

See my recent posts on where my car died yesterday. Check all the Ioniq boards to see if they have safety issues. Be very diligent. If they have issues be on top of it. Best of luck to you! Try to keep us posted on the general section about other EV's so we can have some info to compare to.

Where are your post about your car dying

 

[n8236]

I don’t subscribe to the thought that the OG prices are of good value. Maybe combined with the tax rebate, sure.

Maybe someone will take my OG Pure price

 

[SubSailor]

The only thing you will make get as profit is your tax credit. $140 plus tax is like $154k... that is the price of a new AGT because whoever buys from you still has to pay taxes on that $154k.

Might still be worth unless you get offers for less than the cost of the car.

Not into flipping my GT when it shows up but did want to point out in Arizona, private auto sale is non-taxable to the new buyer.

 

[Steveinarizona]

Not into flipping my GT when it shows up but did want to point out in Arizona, private auto sale is non-taxable to the new buyer.

True but there will be tax on the initial purchase since the purchaser is not in the business of buying and selling cars. That is the same reason that the subsequent sale will be exempt from sales/use tax -- it will be a casual (not taxable) sale.

 

[limtless]

Don't you have to keep the car for over a year to keep the $7500?

I think only those who bought and received before the new was signed will get $7,500 everyone else will get $0

 

[DJL]

I think only those who bought and received before the new was signed will get $7,500 everyone else will get $0

According to my CPA, if you confirmed before the bill became law and paid for and received your car before the end of this year, you qualify for the tax credit.

 

[Bel]

According to my CPA, if you confirmed before the bill became law and paid for and received your car before the end of this year, you qualify for the tax credit.

Do you mean its sufficient to have paid only the confirmation $1000?

 

[histal]

Where are your post about your car dying

Sept 14th in "the car just up and died" thread, and subsequent posts on that same topic.

 

[DJL]

Do you mean its sufficient to have paid only the confirmation $1000?

Nope, you need to have paid in full.

 

[changinator]

According to my CPA, if you confirmed before the bill became law and paid for and received your car before the end of this year, you qualify for the tax credit.

I think only those who bought and received before the new was signed will get $7,500 everyone else will get $0

Do you mean its sufficient to have paid only the confirmation $1000?

According to my CPA, if you purchase and take delivery anytime before end of the year, you definitely qualify for the old tax credit for Lucid Air. It doesn't matter if you confirmed before or after the bill passed because August 16 only enacted the final assembly in America rule, and Lucid Airs are already final assembled in America. The rest of the new EV tax incentive rules (i.e. income cap, vehicle price cap, battery assembly, material source) goes in effect January 1, 2023.

According to my CPA also, if you confirmed and converted your order into a written binding contract anytime before end of this year for an order arriving next year, its up in the air if you'd qualify for the old tax credit under the Transition rule. We're all awaiting for the state and IRS to further clarify what qualifies. If no further clarifications are provided, we can still technically confirm and increase our deposit to the 5% rule to increase our chances to qualify, although still not guaranteed.

 

[mnrobertson]

After much deliberation I also canceled my order for an Air Pure. We had taken a test drive in BH and while I loved it, my wife didn’t like how low the car is. She’s used to being up higher in her RAV4. She also is not quite ready for an all-electric vehicle. So we just traded in her old RAV for a RAV4 Prime plug-in hybrid. We really don’t need two cars, so I’m hoping she‘ll get over her range anxiety and maybe we’ll get a Project Gravity Lucid when they become available.