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$10,000 Tax Credit - Postpone Purchase of Model S?

With President Obama proposing to increase the Federal Tax Credit to $10,000; I was wondering how many reservation holders are tempted at waiting to purchase their Model S vehicles? Also, with the proposed credit shifting from an individual tax credit (which you have to wait to receive once you file your tax return) to a credit for automakers I wonder whether the net effect would be zero? For example, will Tesla and other automakers just raise the price like we saw this past year?

Personally, although it is tempting, I don't think I will wait given that I've been waiting for quite awhile already for the Model S.

Nothing is certain when it comes to taxes/tax credits and our government. I will take the $7,500 and be happy.

MSTESLA30 - Unless the wait is less than 2,500 minutes (approx 42 hours) don't wait. The car is too good. You'll have over $2,500 worth of joy in that time.

www.teslamodels.wordpress.com

MSTESLA30 - Could you give us a government document reference for 10K proposed. I've only seen 7.5 in the President's budget outline and a shift to a POS rebate. Ref: http://www.whitehouse.gov/sites/default/files/other/fact-sheet-one-milli...

Unless you are making over something like $7.5K a year and have no other deductions then there is no need to wait because you probably won't get the entire 7.5K deduction anyway.

Cattledog - I don't have the govt doc but here's a link to an article.

http://www.freep.com/article/20130411/BUSINESS01/130411037/Barack-Obama-...

Sudre - Not sure I follow your logic. $7500 is a tax credit not deduction. Therefore a dollar for dollar reduction of total tax liability. However, with the proposed $10k credit going to directly to Tesla, I wonder if the consumer will really get the benefit...in other words will the price just increase for a zero net effect.

I'll probably take the $7500 credit this year. If our elected leaders can't get it together to make decisions on the national deficit etc, can't expect them to get things done efficiently for EV industry.

That was supposed to be, make more than $75K a year.

If your total tax liability is less than $7500 then you are not going to get the entire $7500. The Feds aren't going to give you more than what you put in. I figured most people buying this car would get the entire tax credit but then others explained to me that's not the case for several tax reasons.

I don't think there will be a direct to the dealer 10K rebate. At best a 10K credit but most likely neither in this political climate.


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