Tjdehya

The Senate has passed the Inflation Reduction Act
https://electrek.co/2022/08/07/senat...ate-bill-ever/

This will extend the $7500 credit for EVs assembled in North America and end the current $7500 credit for all others.
If you can pick up your EQS before the house passes it and Biden signs it into law then make it happen!

I think the EQS SUV will still be eligible? Correct me if I am wrong please.

taphil

SUV price capped at $80k for tax credit. Car price capped at $55k.

Income is capped at $150k/300k for credit.

There’s also stipulations about location of vehicle’s final assembly and where the batteries are manufactured.

From what I’m reading, there’s literally only about half a dozen EVs that will qualify for tax credit with this new bill.

Old Dawg

If the battery size is still used to determine the amount of credit the F-150 and Silverado may be the only ones to max. Not much has been said, but I wonder about what restrictions they have on the used EV credit.

rbourge

In addition to the Federal EV tax loss, my state has eliminated their EV tax refund offer and added an additional road tax on all EV vehicles and hybrids! How is that supposed to encourage a switch?

Newbyloub

It only makes sense for EV users to pay a road tax - they are avoiding the taxes at the gas pump but are using the roads. We want the roads in good condition and clear in bad weather..

Tjdehya

Yeah they really watered the tax credit down. I just wish they left the old one in place until each company reached their 200,000 limit.
Also I believe there is an income limit as well. So a lot of buyers who claim this credit may not even be able to get all $7500.

chassis

In addition to the issue of skirting road tax, electric utilities are not of one mind as to if, when and how to supply electricity for the new world of EVs, if it ever arrives.

Tapping the brakes on EV penetration, as this bill does, helps governments keep their eye on the tax ball and the utilities to rustle up a plan to bring more juice.

Drone_S213

Some EVs are so expensive now they should be part of the mortgage as an appliance or backup generator?

When 2020 CRV Hybrid finally dies wife's next vehicle has to be an EV. As an engineer would prefer a Hydrogen Fuel Cell vehicle but infrastructure not there yet. The way this country works as we phase out ICE the cost to charge EVs will creep up to what we used to pay for Diesel and Gasoline especially with all these incentives going away. States and Feds need to Tax charging to help pay for roads and graft. Insurance cost are also insane especially at GA residence. My 3 ICE vehicles in NM that take premium octane, cost less to insure than 2021 Kia Soul in Athens area of Georgia. 18-year old son partly to blame since is on GA policy but main culprit is our proximity to Atlanta Georgia so says our Agent in Watkinsville. Can only imagine what Tesla's or EQS SUV's Premium would cost @stealth.pilot ? Told the wife no more free lunch and needs to start saving up for her future transportation...lol

I will keep air in the tires and might help with insurance. Georgia taxes half my NM retirement income but at least I'm covered under her Government Health Insurance for now. I might buy a Zero Motorcycle if my balance is still good in 8-13 years. Will continue to enjoy all the pops from my Toys until I'm forced to downsize and relocate back East after 70 and old job no longer requires my part time services for contract. Hope wife transfers to DMV area in a Tax friendly location. Maybe WV or DE?

stealth.pilot

In Georgia they already charge to offset the gasoline tax. The Alternative Fuel Vehicle Plate costs an extra $200 per year and the amount is determined based on the loss of gasoline tax.

rbourge

By that logic ICEs should have a similar clean air tax to offset the increased environmental damage they bring. We want our air in good condition and clear of bad pollution.

Acta_Non_Verba

Hi rbourge,

What state are you in? I looked at your profile, but it was not listed. Can you mention it if you don't mind?

Best,

rbourge

Louisiana, House bill 1031 passed June 6

superswiss

They indirectly do. The gas tax is tied to how much gas you use, not how many miles you drive. A car that burns more fuel and therefore pollutes more will pay more in taxes for a given distance than a more fuel efficient and less polluting car such as a hybrid. The issue is how the tax dollars are allocated. Are they used to clean up the environment or purely for road constructions or do they end up in the coffers of corrupt politicians.

bishop64

It is not politically correct to tell the truth...lol

LGBrandon

I get the optics, some people may feel that those who can afford spending a 100k+ On a Car in cash to buy the vehicle without a lien shouldn’t be entitled to a $7500 tax break. This may affect other cheaper Mercedes EQ models down the lineup. I do think that EV skeptics in the luxobarge category (like me previously) will be less likely to consider EQS. The tax break definitely sweetened the pot for me and cemented the decision on an EQS. Otherwise, I might have leaned toward S580 or the newer updated S8 to replace my A8.

Newbyloub

It’s no different than any other aspect of choosing in life.

I have an ‘18 S560 that I like very much
When the EQS was announced, I decided I wanted one, I had the $, the &7,500 credit was an added benefit that had nothing to do with my buy decision, so I bought my 450.
I’m very content.

TH22

I was notified just today that we have an allocation for a mid November build. Car should be delivered by the end of December if we don’t run into any holds. It’s coming through Brunswick VPC. Can I get a binding purchase agreement or does the car need to be built? I hope I can get the $7500 credit.

c4004matic

It has to be in hand.

Tjdehya

From what I have read from the internet tax experts, you need a Vin and a purchase agreement to be signed before Biden signs it into law.

Radman991

So does that mean you don’t actually have to have the car in your possession? I have a vin number and my car has been sitting at the German port for over 3 weeks waiting for a ship assignment. Talk about bad luck after waiting for over a year to get a build.

LGBrandon

https://insideevs.com/news/603726/ri...ing-agreement/

This has some info that hopefully that maybe helpful to you to secure a "binding agreement" from your dealer, but there is no guarantee. I hope you get your credit. IMO you definitely deserve it given your wait time, the income cut offs and price limits that eliminate the EV tax credits are unfortunate.

mercedesmax

If you go ahead and pay for the car, and have a buyers order dated prior to the new law passing you should be fine.

Tjdehya

I am in the same situation. Mine has been sitting for 6 weeks now and Next month will be a year since I ordered.

This is the information I read. Most seem to think that this is correct. I do not know if there is anything written anywhere to specifically confirm this belief.

Radman991

Mine is a 2023 model. Have they announced the pricing on the 23’s yet?

TH22

Thanks. I forwarded this to my SA. I’m going to discuss this tomorrow. We ordered the car in January. I was starting to think it wouldn’t be made until next year. We started out at 16 and then the past two months we’ve been sitting at 3.