Getting a 2017 Tesla Model S with $4k EV tax credit up front?

[Johnny Rumbach]

Hello, I am looking at getting my first Tesla. Going with either a 2017 or 2018 model S 75D or 90D. I am not sure if this is the right area for this thread, but I do have a question about the EV tax credit when making a purchase for a used EV. I am located in Florida and I am aware of the credit guidelines for income and the car having to be $25K or under in price. But does anybody know or have any experience on getting the $4000 tax credit upfront at time of purchase? I've seen a few discussions about this but it seems like there is nothing for sure documented if it's possible, so anybody here have any experience using that $4000 upfront for like a down payment when you purchase a used Tesla? If so, how did you make it happen with the dealership, what was all involved?

 

[DerbyDave]

If you are eligible, Tesla should credit you when you make the purchase. I'd make sure they know you think you are eligible, and want them to apply it for your purchase.

 

[Johnny Rumbach]

Sorry, to clarify, this purchase would not be at a Tesla dealership. The few teslas I am looking at are used Teslas at other dealerships here in Florida. So I am wondering if it is possible to get the 4k Used EV credit directly from the dealership that I make the purchase at.

 

[DerbyDave]

Sorry, to clarify, this purchase would not be at a Tesla dealership. The few teslas I am looking at are used Teslas at other dealerships here in Florida. So I am wondering if it is possible to get the 4k Used EV credit directly from the dealership that I make the purchase at.

Should be the same for any "dealer". Most should willingly do this for a quick sale. It is just paperwork. If they don't, you can claim it on your taxes.

Used Clean Vehicle Credit | Internal Revenue Service

If you buy a qualified used electric vehicle from a dealer for $25,000 or less, you may be eligible for a clean vehicle tax credit of up to $4,000.

www.irs.gov

 

[ucmndd]

Sorry, to clarify, this purchase would not be at a Tesla dealership. The few teslas I am looking at are used Teslas at other dealerships here in Florida. So I am wondering if it is possible to get the 4k Used EV credit directly from the dealership that I make the purchase at.

You need to ask the specific dealer if they have registered with the IRS point of sale system or not. Nobody here can answer that for you.

 

[Krash]

…Tesla should credit you when you make the purchase…

Tesla probably isn’t going to resell a $25,000 Model S.

I believe there is an online service that facilitates third party private sales but still qualifies for the $4000. Or, as mentioned, you’ll have to check with each non-Tesla dealer.

 

[brkaus]

Tesla probably isn’t going to resell a $25,000 Model S.

I believe there is an online service that facilitates third party private sales but still qualifies for the $4000. Or, as mentioned, you’ll have to check with each non-Tesla dealer.

You may be referring to keysavvy.

But I don’t think they pay the tax credit up front.

I doubt most used car dealers would go through the effort (or even potential risk), if it’s even possible.

 

[Johnny Rumbach]

You may be referring to keysavvy.

But I don’t think they pay the tax credit up front.

I doubt most used car dealers would go through the effort (or even potential risk), if it’s even possible.

Thanks for mentioning Keysavvy. Never heard of them. It looks like you can transfer the 4k credit to them to use upfront.

"You can choose to transfer your credit to KeySavvy or claim it when you file your federal income tax return. For purchases in 2024, you would claim the tax credit when you file your taxes in early 2025. If you choose to transfer your credit to us, we'll apply the amount of the credit to your transaction so you'll only need to pay the remainder."