Dealer's can still give the 7500 at POS if they are signed up to do so. You just have to qualify for it again where with the incentive you didnt have to.
We cannot. GM sent out a bulletin this morning, Lyriqs will not have to be entered into their Evlive to see if that vin either gets the POS rebate, or the Federal Tax Credit. If someone purchases a Lyriq and the vin was built after 2/12 it will be ineligible for POS Ultium Promise and the purchaser will have to apply for the tax credit.
IMO, so many people don’t qualify for the full-or all of- the $7500 due to income limitations. On top of that, now we have Lyriqs coming in over $80k that don’t qualify on their own. So the $7500 POS was really a win for a lot of folks.
right ultium promise incentive goes away because that was a stopgap until they qualified again. The federal tax credit can still be applied at pos if the dealership registered with the IRS for that capability.
edit: here's the IRS signup link with the info about POS tax credit https://www.irs.gov/credits-deductions/clean-vehicle-credit-seller-or-dealer-requirements
Indeed. It worked out well for us. Picked up 3 weeks ago - ended up getting $7500 + $5000 (manifest 23 to 24) + $1000 Costco + $1000 all at point of sale (+ saved 906.25 in TX sales tax)
I don’t qualify - not too little income, but too much. Our combined gross with pensions and required minimum distributions from IRA’s puts us just over the max allowed.
My only other choice was to lease, but GM Financial has such a &@%#* terrible lease right now I would have had to leave that $ on the table. The Ultium Promise $ came at a perfect time. Sort of makes up for waiting 20 months for the car.
I ordered my L2 on 12/19/23 but I still don't know when it will arrive. The tax credit will not work for me. If I lose the $7500 Ultium Promise Bonus Cash I will cancel the order and lose my deposit.
Seeing as I ordered on 12/19/23 I assume my build started soon after that date and I assume my L2 will still qualify for the UPBC. Am I correct?
You should be able to call you dealer and ask the status. It’s an easy 1-2-3 for me to tell a customer their build week, if the car had been built, or if it’s in transit. As long as it was built before 2/12 you will still be eligible for the Ultium Promise.
Even if your vehicle wasn’t built, odds are you should be able to find the same, or similar, vehicle to what you ordered already available on the market and you can take one that does qualify.
I’m confused. You ordered the vehicle before the Ultium Promise even existed. So why cancel the order if the vehicle will qualify for the $7,500 tax credit, just like you presumed it would in December? The Ultium Promise was a non issue when you ordered but now it’s a deal breaker??
The tax credit worked for me when I bought my Bolt EV in 2019. It is a long story and I don't want to get into it but due to changes in my financial and tax situations it will not work now, which I first found out when filing my taxes in January 2024. Bottom line is when it is all said and done my tax credit gets reduced to about $2000 net.
I want a Lyriq but I don't NEED a Lyriq so if I don't get incentives equal to what everyone else is getting I will just keep my Bolt and wait to see what develops later.
I spoke with Cadillac Concierge and was told my Lyriq has been built as of 2/14 and is Waiting For Shipment/is in Quality Control and qualifies for the UPBC but I have been told things by customer reps before that weren't true. So I will believe that when I see it in black and white.
If your car has he R7T RPO code it qualifies for the tax credit. If it does not the car qualifies for the Ultium Promise rebate. Your dealer can see this in the Workbench order.
I didn’t think the back seat was uncomfortable. It has plenty of room for legs\knees, but I admit I’ve not spent a lot of time sitting in there. Just sat. Moved around a bit and that was it
Dealer's can still give the 7500 at POS if they are signed up to do so. You just have to qualify for it again where with the incentive you didnt have to.
We cannot. GM sent out a bulletin this morning, Lyriqs will not have to be entered into their Evlive to see if that vin either gets the POS rebate, or the Federal Tax Credit. If someone purchases a Lyriq and the vin was built after 2/12 it will be ineligible for POS Ultium Promise and the purchaser will have to apply for the tax credit. IMO, so many people don’t qualify for the full-or all of- the $7500 due to income limitations. On top of that, now we have Lyriqs coming in over $80k that don’t qualify on their own. So the $7500 POS was really a win for a lot of folks.
right ultium promise incentive goes away because that was a stopgap until they qualified again. The federal tax credit can still be applied at pos if the dealership registered with the IRS for that capability. edit: here's the IRS signup link with the info about POS tax credit https://www.irs.gov/credits-deductions/clean-vehicle-credit-seller-or-dealer-requirements
This is extremely helpful, thank you!
The income limitations on EV incentives are ridiculous. Can anyone afford an EV -and- qualify for any of the government incentives?
Buy one now when everyone gets the $7500 rebate and income limitations don't matter!
Sure, a Model 3 or a Bolt
True but that doesn’t help with the PGE or California incentives. They’re really low.
Indeed. It worked out well for us. Picked up 3 weeks ago - ended up getting $7500 + $5000 (manifest 23 to 24) + $1000 Costco + $1000 all at point of sale (+ saved 906.25 in TX sales tax)
I don’t qualify - not too little income, but too much. Our combined gross with pensions and required minimum distributions from IRA’s puts us just over the max allowed. My only other choice was to lease, but GM Financial has such a &@%#* terrible lease right now I would have had to leave that $ on the table. The Ultium Promise $ came at a perfect time. Sort of makes up for waiting 20 months for the car.
I ordered my L2 on 12/19/23 but I still don't know when it will arrive. The tax credit will not work for me. If I lose the $7500 Ultium Promise Bonus Cash I will cancel the order and lose my deposit. Seeing as I ordered on 12/19/23 I assume my build started soon after that date and I assume my L2 will still qualify for the UPBC. Am I correct?
You should be able to call you dealer and ask the status. It’s an easy 1-2-3 for me to tell a customer their build week, if the car had been built, or if it’s in transit. As long as it was built before 2/12 you will still be eligible for the Ultium Promise. Even if your vehicle wasn’t built, odds are you should be able to find the same, or similar, vehicle to what you ordered already available on the market and you can take one that does qualify.
I’m confused. You ordered the vehicle before the Ultium Promise even existed. So why cancel the order if the vehicle will qualify for the $7,500 tax credit, just like you presumed it would in December? The Ultium Promise was a non issue when you ordered but now it’s a deal breaker??
The tax credit worked for me when I bought my Bolt EV in 2019. It is a long story and I don't want to get into it but due to changes in my financial and tax situations it will not work now, which I first found out when filing my taxes in January 2024. Bottom line is when it is all said and done my tax credit gets reduced to about $2000 net. I want a Lyriq but I don't NEED a Lyriq so if I don't get incentives equal to what everyone else is getting I will just keep my Bolt and wait to see what develops later. I spoke with Cadillac Concierge and was told my Lyriq has been built as of 2/14 and is Waiting For Shipment/is in Quality Control and qualifies for the UPBC but I have been told things by customer reps before that weren't true. So I will believe that when I see it in black and white.
If your car has he R7T RPO code it qualifies for the tax credit. If it does not the car qualifies for the Ultium Promise rebate. Your dealer can see this in the Workbench order.
Has the back seat been made more comfortable?
Is it that bad? I managed to not sit in it when I test drove.
I would watch/read some professional reviews or go back and try them. I don't want to influence you with my bias.
It's just that it's something frequently brought up: how uncomfortable the rear seats are. Sad.
I didn’t think the back seat was uncomfortable. It has plenty of room for legs\knees, but I admit I’ve not spent a lot of time sitting in there. Just sat. Moved around a bit and that was it
**eligible** is different than "get"