Tesla Introduces Instant Point of Sale EV Tax Credits: Save $7,500 Now on Your Purchase!

Tesla EV Tax Credits Now Eligible for Point of Sale Transfer

Starting in 2024, EV Tax Credits for Tesla and other eligible electric vehicles can now be transferred at the point of sale, making it easier for consumers to benefit from up to $7,500 in savings. Learn more about how this change can benefit you:

Tesla Models Qualifying for Maximum Credit

Beginning in 2023, Tesla models qualified for the EV tax credit once again. The following Tesla models are eligible for the maximum credit of $7,500:

• Tesla Model 3 Performance
• Tesla Model Y RWD
• Tesla Model Y LR
• Tesla Model Y Performance
• Tesla Model X LR

Transferring the EV Tax Credit

The new tax code update allows consumers to transfer the EV tax credit at the time of purchase, offering several benefits:

1. Treat tax credit as cash: You can apply the full $7,500 or a portion of it directly to the purchase price as if it were a down payment.
2. Less qualification requirements: Only the income threshold of $$300,000forjointfilersand\; \$$150,000 for individuals needs to be met. Your tax liability does not matter.
3. Two-year income cap window: The income caps are based on Adjusted Gross Income (AGI) for either the year the vehicle is placed into service or the previous year, giving you two years to qualify without exceeding the income caps.
4. Unlimited tax credit claims: Each taxpayer can transfer up to 2 credits per year to an approved dealer. You can claim additional credits beyond that, but the remainder will not be claimed until tax filing. The 2 credits transferred are only subject to income cap requirements. The remaining credits are also limited to your tax liability.
5. No need to wait for tax refund: By transferring the credit at the time of purchase, you can avoid waiting for your tax refund to benefit from the savings.

Eligible Tesla Models for Transfer

The following Tesla models are eligible for the maximum EV tax credit of $7,500 and can be transferred at the point of sale:

1. Tesla Model 3 Performance
2. Tesla Model Y RWD
3. Tesla Model Y LR
4. Tesla Model Y Performance
5. Tesla Model X LR

With the new Point of Sale (POS) transfer of EV tax credits, 2024 is set to be the year of the EV. Take advantage of this opportunity to save on your Tesla purchase.

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