Spend 16k to save $7,500

[Volund]

Heads up-Contrary to the original Lucid statement, one has to complete the Lucid purchase in 2022 to get the $7,500 tax credit. Complicating the matter is the fact that if you are buying a Touring model (like I planned), you MUST get it loaded (if you want it in time for the tax credit). The situation means I would spend 16k on Dream Drive, surround sound, and glass roof to get the $7,500 tax credit, and I don’t want any of those options. That killed the deal for me, so I am letting the reservation go and getting a deposit refund.

I still have a deposit on the Air Pure. I lose the tax credit, but hopefully I can get the options I want as opposed to having them dictated.

A lot of people forget that registration of this car alone is close to $9k at your local DMV.
At least mine was, taxes very, but it's more realistic to say that the tax credit goes towards registration costs than it does for the cost of the car itself LOL

 

[WildRide47]

A lot of people forget that registration of this car alone is close to $9k at your local DMV.
At least mine was, taxes very, but it's more realistic to say that the tax credit goes towards registration costs than it does for the cost of the car itself LOL

When you say registration costs I assume you mean sales tax.

There is no sales tax here in Oregon, so the registration costs here are minimal.

 

[Volund]

When you say registration costs I assume you mean sales tax.

There is no sales tax here in Oregon, so the registration costs here are minimal.

Yes you're right, sales tax.

And wow that's excellent.

 

[WildRide47]

Yes you're right, sales tax.

And wow that's excellent.

Unfortunately, it is also counter balanced by a 10% state income tax.

 

[Grubie]

Lucid didn't change the Federal tax credit, so want do you want them?

Lucid contacted all reservation holders and advised that in order to get the credit you needed to have a binding contract. That would push your deposit up to $1000. I wanted that credit, so no problem. Then toward the end of November they contacted all reservation holders and tried to back us into a corner my only delivering vehicles with $16000 worth of options. A nasty way to get the customer to add options that they really didn't want.
I want the car but I don't appreciate being "forced" to load my car up with options that I really don't want. I decided to keep my order but forgo the tax credit. In my opinion, not the best way of doing business but hopefully things will improve.

 

[noobzilla]

Lucid contacted all reservation holders and advised that in order to get the credit you needed to have a binding contract. That would push your deposit up to $1000. I wanted that credit, so no problem. Then toward the end of November they contacted all reservation holders and tried to back us into a corner my only delivering vehicles with $16000 worth of options. A nasty way to get the customer to add options that they really didn't want.
I want the car but I don't appreciate being "forced" to load my car up with options that I really don't want. I decided to keep my order but forgo the tax credit. In my opinion, not the best way of doing business but hopefully things will improve.

Iirc Lucid didnt say it was a guarantee. More of something to try to do vs doing nothing at all. There is still chance it could qualify even with 2023 delivery, but 0% chance if Lucid did not offer the "binding contract". It will only turn deposit into non refundable but no increase in the deposit amount.

It's really IRS and govt fault for not making it 100% clear what will qualify. It does suck being forced to get all those options to try EOY delivery for guaranteed credit.