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Electra Meccanica (three Wheel Electric) Email-11/2/15
- Thread starter RUCRAYZE
- Start date
ooops, thanks Wiz! Rickb and Elio Amazed without a doubt will feed our hunger for their first impressions of the SOLO!Actually, I think Rickb has Solo #166
Elio Amazed
Elio Addict
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My email says Q3.
It was dated January 17th.
That's after the chart release.
I'm good with that.
One of our SO members holds the reservation on Solo #10.
It was dated January 17th.
That's after the chart release.
I'm good with that.
One of our SO members holds the reservation on Solo #10.
Last edited:
Elio Amazed
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Design Change.
Elio Amazed
Elio Addict
- Joined
- Jun 30, 2014
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- 3,507
- Reaction score
- 4,630
Thx for the info. Wiz!
I'm totally a newbie on anything EV so can anybody enlighten me on how the Federal Tax Credit works? Is this FTC "automatically" deducted to the price of the vehicle at the point of sale? Or do you have to apply for it and then get a "check" for that amount after?
Rob Croson
Elio Addict
Edit: Rickb says it expired, so the following information is probably not important...
First of all: Motorcycles and three-wheeled EVs get a max of 10% sticker price or $2,500, whichever is less. Your Solo will NOT get you a $7500 credit. $2500, tops, and that's only if you pay more then $25,000 for it.
As to how it works: It's an income tax reduction. You pay the full amount for the vehicle, and the $7,500 is claimed on your next tax return. If you can't take advantage of the full $7,500 reduction, then you lose the excess credit. I.e. if your total taxes for the year were $3,000, then you get a $3,000 reduction, and you lose the extra $4,500. If you lease the vehicle, the owner of reord get the credit, which isn't you. It's probably the manufacturer or leasing company. They *may* pass the credit along to you in the form of a lower lease price. Make sure you force them prove it, or you're not getting it.
Here's a link to an article from Edmunds that explains it all in greater detail:
https://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html
Interesting note: The $7,500 is based on the battery size of the vehicle. Plug-in hybrids generally don't get the full amount.
First of all: Motorcycles and three-wheeled EVs get a max of 10% sticker price or $2,500, whichever is less. Your Solo will NOT get you a $7500 credit. $2500, tops, and that's only if you pay more then $25,000 for it.
As to how it works: It's an income tax reduction. You pay the full amount for the vehicle, and the $7,500 is claimed on your next tax return. If you can't take advantage of the full $7,500 reduction, then you lose the excess credit. I.e. if your total taxes for the year were $3,000, then you get a $3,000 reduction, and you lose the extra $4,500. If you lease the vehicle, the owner of reord get the credit, which isn't you. It's probably the manufacturer or leasing company. They *may* pass the credit along to you in the form of a lower lease price. Make sure you force them prove it, or you're not getting it.
Here's a link to an article from Edmunds that explains it all in greater detail:
https://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html
Interesting note: The $7,500 is based on the battery size of the vehicle. Plug-in hybrids generally don't get the full amount.
Thx Rickb!