Financing, Credits & Down Payment

Financing, Credits & Down Payment

Hi all

I am new here am am seriously considering a Model S Performance. The one thing I am trying to get clear (sure it has been asked before) is how the financing and incentives work. I am in CO so know that we get $6500 state and $7500 Federal (right ?) credit/incentive. How does this actually work, what is the process to receive these and how can they be applied to a down payment as the calculator has you believe ?

Thanks so much, links, direct replies or topic replies are greatly appreciated


Cattledog | 04. Juli 2013

Wildcat - Can't comment on Colorado state incentive, but the Federal incentive is a tax credit. You claim it on your federal income taxes and it reduces your taxes paid, dollar for dollar, up to $7,500 so long as you paid at least $7,500 in federal withholding in the year you took delivery of your Model S.

Brian H | 04. Juli 2013

There is a page where you can look up your state, though it is not guaranteed complete or accurate. It matches what you said for Colorado.

Wildcat_1 | 05. Juli 2013

Thanks both ! Can anyone else help answer the question on state incentives and how these credit are meant to or can be applied to down payment etc as stated in the calculator ?

Thanks again