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Discussion Starter · #1 ·
I have read articles that say a truck has to be under $74,000 to qualify for the Federal tax credit of $7500 among other requirements. The new law shot down my Manchin would raise that limit to $80,000. Can anybody confirm this to be true or false. It seems important as I could not configure a Lightning with the extended range for under $74,000.
 

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I don’t know where you read that but there is no price cap on the current tax credit.
 

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That article is saying the EV tax credit passed by the House in November had a $74k MSRP limit for SUVs. Modifications to the bill that might be passed and go into law have now raised that to $80k. The current EV tax credit of $7500 that you can get right now today doesn't have an MSRP limit.

This article does a pretty good job of explaining how the current EV tax credit works - https://www.kbb.com/car-advice/how-do-electric-car-tax-credits-work/.

If I were lucky enough to order today, I would not get a Platinum because the MSRP exceeds $80k. Just in case Build Back Better and the new EV tax credit does pass soon and the $80k limit kicks in.
 

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Discussion Starter · #5 ·
Thank you! Yeah I see what you're saying. Seems like a good plan if you're retired like me and the credit is important.
 

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Thank you! Yeah I see what you're saying. Seems like a good plan if you're retired like me and the credit is important.
BTW, if you do get to order this year, you are going to want to make sure you will owe at least $7500 in taxes next year. Since Build Back Better is dead, it is unlikely this will be changed to a refundable credit. Right now, it is not.
 
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