5 ms·

Re: the tax credit, note the income requirements here: https://www.irs.gov/credits-deductions/used-clean-vehicle-credit https://www.irs.gov/credits-deductions/

by arbuge 1y ago

Re: the tax credit, note the income requirements here: https://www.irs.gov/credits-deductions/used-clean-vehicle-credit https://www.irs.gov/credits-deductions/used-clean-vehicle-cr... I don't know anything about your situation, but I'm guessing quite a bit of the readers here on HN from the US won't qualify.

mtlynch 1y ago
>The sale qualifies only if: >You buy the vehicle from a dealer. This is such an annoying part of the tax incentive. It's a huge, pointless gift to car dealers (who need no help) because it means they don't have to compete for price with private sellers or buyers. If I have a used EV to sell, I basically have to sell to the dealer because no buyer wants to bother buying from me when they can get the same thing from a dealer with a $4k tax credit on top.
- supportengineer 1y ago
  Not to mention there are severe income limits on the rebate
  - taftster 1y ago
    Right, set too low (imho). And not a graduated phase out either. And the market for these cars are going to be people typically past the income limit. My instinct tells me that people below the income limit ($75K/$150K) probably aren't really in the market for an EV. They are probably just trying to keep their regular gas vehicle running. An EV is almost a second/third car for a lot of people, commuters trying to offset their gasoline costs.
    - loeg 1y ago
      Individual tax credits/deductions shouldn't have income limits / phaseout at all. We get the progressive taxation on the front end, with marginal tax brackets.
      - taftster 1y ago
        Totally agreed. But unfortunately, they often do.
- jeffmcjunkin 1y ago
  KeySavvy is the normal workaround for this. $99 extra cost to both sides for them to handle the title verification and shipping, and to act as the dealer to make it qualify for EV credits.
  - mtlynch 1y ago
    Wow, great tip! Thanks!
- taftster 1y ago
  Maybe the car dealers have had a lobbyist that has influenced this to their favor. Wouldn't surprise me. But likewise, there's some formality and paperwork trails that exist when a dealership is involved vs. private party, so I wonder if the concern is some fraud or abuse in the private market as well. Regardless, I agree with you.
  - loeg 1y ago
    Car dealers are a well-known, hugely influential lobby.
    - taftster 1y ago
      Given that, probably lobbyist influence then more than anything.
geerlingguy 1y ago
My YouTube (mostly now) income is a fraction of what I used to make as a software architect—I'm well within the limits these days :)
- marcsto2 1y ago
  What's your channel :)
  - gabesullice 1y ago
    Jeff is a treasure! https://youtube.com/@jeffgeerling https://youtube.com/@jeffgeerling
  - mkingston 1y ago
    https://www.youtube.com/channel/UCR-DXc1voovS8nhAvccRZhg https://www.youtube.com/channel/UCR-DXc1voovS8nhAvccRZhg Jeff Geerling. Also the owner/author of the site we're discussing in this thread.

by arbuge 1y ago

mtlynch 1y ago

>The sale qualifies only if: >You buy the vehicle from a dealer. This is such an annoying part of the tax incentive. It's a huge, pointless gift to car dealers (who need no help) because it means they don't have to compete for price with private sellers or buyers. If I have a used EV to sell, I basically have to sell to the dealer because no buyer wants to bother buying from me when they can get the same thing from a dealer with a $4k tax credit on top.

supportengineer 1y ago
Not to mention there are severe income limits on the rebate
- taftster 1y ago
  Right, set too low (imho). And not a graduated phase out either. And the market for these cars are going to be people typically past the income limit. My instinct tells me that people below the income limit ($75K/$150K) probably aren't really in the market for an EV. They are probably just trying to keep their regular gas vehicle running. An EV is almost a second/third car for a lot of people, commuters trying to offset their gasoline costs.
  - loeg 1y ago
    Individual tax credits/deductions shouldn't have income limits / phaseout at all. We get the progressive taxation on the front end, with marginal tax brackets.
    - taftster 1y ago
      Totally agreed. But unfortunately, they often do.
jeffmcjunkin 1y ago
KeySavvy is the normal workaround for this. $99 extra cost to both sides for them to handle the title verification and shipping, and to act as the dealer to make it qualify for EV credits.
- mtlynch 1y ago
  Wow, great tip! Thanks!
taftster 1y ago
Maybe the car dealers have had a lobbyist that has influenced this to their favor. Wouldn't surprise me. But likewise, there's some formality and paperwork trails that exist when a dealership is involved vs. private party, so I wonder if the concern is some fraud or abuse in the private market as well. Regardless, I agree with you.
- loeg 1y ago
  Car dealers are a well-known, hugely influential lobby.
  - taftster 1y ago
    Given that, probably lobbyist influence then more than anything.

geerlingguy 1y ago

My YouTube (mostly now) income is a fraction of what I used to make as a software architect—I'm well within the limits these days :)

marcsto2 1y ago
What's your channel :)
- gabesullice 1y ago
  Jeff is a treasure! https://youtube.com/@jeffgeerling https://youtube.com/@jeffgeerling
- mkingston 1y ago
  https://www.youtube.com/channel/UCR-DXc1voovS8nhAvccRZhg https://www.youtube.com/channel/UCR-DXc1voovS8nhAvccRZhg Jeff Geerling. Also the owner/author of the site we're discussing in this thread.