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I bought my Ioniq 5 on 7/29/2022, and the plates also came in yesterday, so guess I am good with that. I have a Tesla Model Y Long Range order since last July 2021, and they now saying it will come in Nov, 2022. If I get it Nov, 2022, and if I can take $7500 on that, then it will be so awesome as my Tesla order is at the old old price of $53,000 while the same config now is $68,000, so with the rebate I might get it for $45,500. If that works then I will sell my second car, and keep the Model Y.

But this is so baloney of putting cut off dates mid year, why not say anything after 1/1/2023 is new bill anything earlier is old rule.
GMs and Teslas will only become eligible again for deliveries after Jan 1 2023.
 

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For Tesla and GM you will have to take delivery in 2023 to get the rebate. Also, there is an income limit which will make many people ineligible for the credit.
It is $150k single and $300k joint as income limit.
 

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Discussion Starter · #24 ·
I just read this on Vox and if true, and if my Ioniq arrives by Thursday as expected, then I should be OK.

Once the vote-a-rama is completed, lawmakers can then move on to final passage of the bill, which could come as soon as Sunday. After the Senate approves the legislation, it heads to the House, which is expected to break from its August recess to vote on it later this month.
 

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Ioniq 5 SE AWD
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We purchased our Ioniq 5 SE AWD in February. Even with the $7500 federal tax credit and $2500 state tax credit we were spending significantly more than we'd ever spent on a car or truck. Had there been no federal tax credit I doubt we would have been able to do it and also why we never considered a Tesla.
 

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We purchased our Ioniq 5 SE AWD in February. Even with the $7500 federal tax credit and $2500 state tax credit we were spending significantly more than we'd ever spent on a car or truck. Had there been no federal tax credit I doubt we would have been able to do it and also why we never considered a Tesla.
I’m on this forum because I really wanted to get an Ioniq 5, specifically the SE AWD. But even with the same $10k off in tax credits, it was too much for us. So we decided on a Bolt EV. $25k with the state tax rebate of $2500. We traded off a lot by going with the Bolt, but in the end the Ioniq 5 just wasn’t worth $15k more.

I’m hoping to trade in the Bolt in a few years once the Ioniq 5 qualifies for the full $7500 again.
 

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Ioniq 5 SE AWD
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I’m on this forum because I really wanted to get an Ioniq 5, specifically the SE AWD. But even with the same $10k off in tax credits, it was too much for us. So we decided on a Bolt EV. $25k with the state tax rebate of $2500. We traded off a lot by going with the Bolt, but in the end the Ioniq 5 just wasn’t worth $15k more.

I’m hoping to trade in the Bolt in a few years once the Ioniq 5 qualifies for the full $7500 again.
We really like the Ioniq 5 but I think the Bolt could have been a viable alternative for us if an AWD option was available. It is a great value for an EV.
 

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I already own an I5, but if I was still in the market for one and was wondering about the tax credit going away, the first thing I'd want to know is if the price will go down too. It may be that the tax credit has artificially inflated the price.
 

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I already own an I5, but if I was still in the market for one and was wondering about the tax credit going away, the first thing I'd want to know is if the price will go down too. It may be that the tax credit has artificially inflated the price.
That’ll be so intriguing to follow. For sure prices have been artificially inflated. That’s why the Bolt’s price has decreased over $10k in 2 years. Over on the Bolt forum, we’re wondering if they’ll raise the price by $7500 come Jan 1.
 

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I am installing solar at home and was planning on using the car as a back-up battery.
You didn't mention it but I'll throw this out there in case you haven't heard. On the solar forums they're saying the proposed legislation pushes the 26% solar tax credit back to 30% and extends it for a year or two. Of course, that assumes it passes as is, if at all. It makes me glad I already bought my solar upgrade this year before the increased tax credit inevitably inflates the price.
 

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Discussion Starter · #31 ·
You didn't mention it but I'll throw this out there in case you haven't heard. On the solar forums they're saying the proposed legislation pushes the 26% solar tax credit back to 30% and extends it for a year or two. Of course, that assumes it passes as is, if at all. It makes me glad I already bought my solar upgrade this year before the increased tax credit inevitably inflates the price.
Do the income limits apply? I saw credits for a new2 electric panel and HVAC Heatpump but those had a cap on how much credit you could get a income limit of no more than 150% of your local area.
 

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I just read this on Vox and if true, and if my Ioniq arrives by Thursday as expected, then I should be OK.

Once the vote-a-rama is completed, lawmakers can then move on to final passage of the bill, which could come as soon as Sunday. After the Senate approves the legislation, it heads to the House, which is expected to break from its August recess to vote on it later this month.
Just read that the House Majority Leader's office said the House will come back to vote on the legislation on Friday, Aug 12. So you should be good to go!
 

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‘22 Ioniq 5 Ltd Edition
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My Ioniq 5 is expected to arrive at the dealer next Thursday. I have a VIN but the dealer won't sign paperwork until the car arrives. I will likely miss out on the Tax Credit by a day or 2 depending on when Biden signs it. I will not go through with the purchase without the credit.

I am installing solar at home and was planning on using the car as a back-up battery. It seems like a great car so I was willing to buy something that I don't really need. I work from home and don't really use the 2011 MDX that I was going to trad in that much.

If the dealer changes their mind and signs docs or if the President doesn't get to signing the bill until Thursday (that is if it arrives on time) then I will go ahead with the purchase.

Is the credit a deal breaker for you?
I’m in the exact same position with a Limited RWD. Initially I was going to pass on it. But the car is so highly rated…I’m getting it
 

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They could have simply lowered the tax rebate for foreign manufactured cars and increase or create a separate tier for USA made cars
They could have except that it was fortunate to get it even this far with Manchin who is really against consumer subsidies for EVs. So he only supports such language that will increase support for US manufacturing and on-shoring foreign manufacturing.
 

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It looks like the tax credits will survive in practice via the same “Made in America” exemptions that apply to Federal contracts:


Specifically, if it is documented that there are no made in America options available, Federal contractors can source products made elsewhere.

The tax credits will survive in practice. We’re not going to go from a scenario where they are widely available to zero availability. There will be a temporary workaround as a bridge to allow for the supply chain and manufacturing investments that this bill incentivizes. The patch detailed in the Politico article seems plausible, if not likely.
 

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It looks like the tax credits will survive in practice via the same “Made in America” exemptions that apply to Federal contracts:


Specifically, if it is documented that there are no made in America options available, Federal contractors can source products made elsewhere.

The tax credits will survive in practice. We’re not going to go from a scenario where they are widely available to zero availability. There will be a temporary workaround as a bridge to allow for the supply chain and manufacturing investments that this bill incentivizes. The patch detailed in the Politico article seems plausible, if not likely.
Yes I think there may be some workarounds to the mineral sourcing component. But there are already cars and batteries assembled in North America. There won’t be zero availability. Ford, GM, VW, and some Teslas will all be eligible.
 
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