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New EV incentive rebates in New York starting this April, up to an extra $2000

New EV incentive rebates in New York starting this April, up to an extra $2000

As the title says, in New York there will be a new program starting this April where new Electric vehicle consumers can get a rebate of up to $2000.
Here is the link to an article from Electrk.co where you can get more details as well as the source.

https://electrek.co/2017/03/03/new-york-state-ev-incentive/

As far as we know this rebate will stack with the up to $7500 tax incentive currently offered to the first 200,000 buyers of an Electric Vehicle.
This means a combined savings of close to $10,000 which is very significant for the mass market.
I apologize if someone else posted this already, but after visiting the Tesla forums for a few days I haven't encountered this topic and wanted to share it.
I live in New York and plan to take advantage of both rebates/incentives when I finally take delivery of my Model 3. It will surely help me afford options like Autopilot , All Wheel Drive and the Cold Weather package(in that order of priority).

Red Sage ca us | March 10, 2017

Bumping for the Big Apple...

sosmerc | March 16, 2017

These incentives are significant and will definitely steer potential buyers towards qualified vehicles. The State Of Washington currently offers a tax break on the first $32,000 of "qualified vehicles". I am currently looking at purchasing a new vehicle and I am ONLY looking at vehicles that qualify for both the state and federal programs.

nyca | March 16, 2017

I wonder if a reservation placed today, will result in a delivery after the phase out of the Federal $7500 tax credit. It's going to be very close for someone reserving today, to miss out on that, as the 200K total cars produced trigger for the phase out is looming for Tesla in 2018. I wonder if there is some loophole in the law that will allow reservation holders to pre-pay for their cars before the actual delivery date (well before), to secure the tax credit before the phase out begins. Not sure. Either way, its going to be close to phase out time for reservations placed today I think.

Carl Thompson | March 16, 2017

nyca:
" I wonder if there is some loophole in the law that will allow reservation holders to pre-pay for their cars before the actual delivery date (well before), to secure the tax credit before the phase out begins."

You mean you should be able to screw someone else out of the discount who was in line before you because you can afford to pre-pay for a car you haven't yet received and they can't? Not nice.

Carl

nyca | March 16, 2017

Doesn't look like it will work according to the IRS - "For purposes of the 30D credit, a vehicle is not considered acquired prior to the time when title to the vehicle passes to the taxpayer". So it's at delivery. But if the law had been different, if it only applied to the manufacturer reaching the 200K units produced level, then yes anyone who could pre-pay (regardless of how many did) could have qualified, it would have been time based. Tesla could have refused to accept such pre-payments, but it wouldn't have saved the rebate for anyone else - once 200K is crossed, that's it, the phase out begins quarter by quarter. It's moot anyway given the IRS wording of the law.

The EPA is redoing CAFE - I think hybrids are going to take it on the chin, I wonder if the ZEV balance will tilt towards pure electrics (where the buyers are headed anyway) and something will be tweaked here. GM mostly makes the Bolt to get ZEV credits that allow them to make SUVs & pickups, if they lose the tax credit - they don't just sell less Bolts, they also get pinched on SUV/pickup sales.

Badbot | March 16, 2017

if they game it right 18 months of some tax credit could be had.
If they make 80k this year and 500k next year the tax credit has a outside chance of lasting to Q2 of 2019

nyca | March 16, 2017

Part of the problem with this tax credit, and the ones in the states as well - was actually caused by the success of Tesla with the S. Why? Because so much of these credits went to wealthy people buying $80-100K cars, it has become politically hard to sustain it, even though in reality a new market like this always starts with high-end buyers - like the first betamax owners buying $1000+ VCRs. That's just the way it is. I wonder how many of the 3 reservation holders even know about the fate of the federal EV tax credit.

Red Sage ca us | March 17, 2017

The information is readily available in threads like this all over the internet for anyone willing to do research during... The WAIT. That seems to readily describe the majority of current Model ≡ Reservation holders.