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CA Rebate changes from Nov.1st 2016

2548 Views 11 Replies 9 Participants Last post by  Zoder

So as I read this:
If income less than:
Household Size 300% FPL
1 $35,640
2 $48,060
3 $60,480
4 $72,900
5 $85,320
6 $97,740
7 $110,190
8 $122,670

Rebate on Bolt $4500 - Rebate on Volt $3500 (Better by $500 compared to now)

If income higher than above BUT lower than:
$150,000 for single filers
$204,000 for head-of-household filers
$300,000 for joint filers

Your rebate is $2500 for Bolt and $1500 for Volt (Same as now)

If income higher than above:

Your rebate is $0 for Bolt and $0 for Volt (negative for 150k-250k single filers and 300k-500k joint filers).

Did I read this right?

To me this seems overall negative news (especially for Tesla buyers :))
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I would think ALL Tesla owners could afford ferraris. :)

But in all honesty going from 500K/250K to 300K/150K is a big drop and will impact close to 90+% of Tesla buyers ( I wonder if Tesla still will continue to "show" prices on their website assuming 10K rebate/tax-break?) and maybe 30-40% of Volt/Bolt buyers (?).

Extra incentive to low income family - I agree with others that they probably can't/won't go for new cars anyway - but I see the point of trying to make up for not being able to take full $7500 federal tax credit in those cases.
Where did you get the stats which state 90+% of Tesla buyers and 30-40% of Volt/Bolt buyers earn more than 250K
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