Jan Delivery

[Henke]

So it appears that the US Infrastructure bill passed tonight and will be signed into law by the president this weekend. It apparently includes a new MSRP cap on EV sedans of USD $55k, meaning that no Porsches will be eligible for the $7500 federal tax credit -- presumably for any cars bought in 2022 and beyond (I'm trying to confirm this, but I think that all Porsche EVs bought in the calendar year 2021 will still be eligible for the $7500 federal tax credit). It would be logical for this provision to start in 2023, because so many people have cars ordered in 2021 that are coming in 2022 under the expectation of getting the $7500 tax credit. So we'll have to see what the actual wording says regarding start date for elimination of the tax credit for cars with MSRP > $55k. It would be nice if trade-in value, which reduces the cost of buying a car, could be used to get the EV into allowable tax-credit territory (i.e., < $55k), but I've not seen anything to indicate that this will be the case.

I am talking to my Porsche guy about this. He said initially that he is working with Porsche to get my car in December. I seriously doubt he would be able to make this happen. My original delivery date was Dec 3, well before year end & I was told when I ordered the car to expect it in November or maybe December. I fully understand that global manufacturing issues are not Porsche's fault.

That being said, I am losing out $750 for sure on the California EV credit and very likely the $7,500 federal tax credit. Boo hoo, if I can afford a Porsche, then I shouldn't worry about the $8k+, I get that, first world problems. Still, while I don't expect Porsche to make me whole, it's not unreasonable to expect they would offer some sort of goodwill compensation as right now I am eating the entirety of the cost of delay and they are eating zip.

Sponsored

 

[Ajes]

I am talking to my Porsche guy about this. He said initially that he is working with Porsche to get my car in December. I seriously doubt he would be able to make this happen. My original delivery date was Dec 3, well before year end & I was told when I ordered the car to expect it in November or maybe December. I fully understand that global manufacturing issues are not Porsche's fault.

That being said, I am losing out $750 for sure on the California EV credit and very likely the $7,500 federal tax credit. Boo hoo, if I can afford a Porsche, then I shouldn't worry about the $8k+, I get that, first world problems. Still, while I don't expect Porsche to make me whole, it's not unreasonable to expect they would offer some sort of goodwill compensation as right now I am eating the entirety of the cost of delay and they are eating zip.

same here. I ordered in April with July as initial delivery date that may get pushed into January. When ordering options got extra factoring in the tax rebate.

 

[electric9925]

I ordered on October 29th, haven’t received any email from Track Your Dream. I was told my expected date is 1/7, but hoping for earlier due to the new bill. Just wondering if it’s normal to not have seen the email by now?

 

[mdrobc1213]

I am talking to my Porsche guy about this. He said initially that he is working with Porsche to get my car in December. I seriously doubt he would be able to make this happen. My original delivery date was Dec 3, well before year end & I was told when I ordered the car to expect it in November or maybe December. I fully understand that global manufacturing issues are not Porsche's fault.

That being said, I am losing out $750 for sure on the California EV credit and very likely the $7,500 federal tax credit. Boo hoo, if I can afford a Porsche, then I shouldn't worry about the $8k+, I get that, first world problems. Still, while I don't expect Porsche to make me whole, it's not unreasonable to expect they would offer some sort of goodwill compensation as right now I am eating the entirety of the cost of delay and they are eating zip.

Well will talk to my tax guys and lawyer types I know but given how things are often figured I wonder if since the vehicle was ordered and funds were paid in July 2021 and have documents to show it from Dealer that occurred. Does that count as a purchase in the eyes of the govt and if so can we claim the credit? My wife's BMW PHEV hybrid certainly does...but having the Taycan CT credit was also part of the planning/deal also going forward eventhough my car delivery is not scheduled till late Jan 2022. My buddy is going to his dealer to "pay his car forward" for his Ford Mach E GT which I think is gonna be about $70k so he can claim his rebate if they will let him...doesn't car when it gets in! LOL.

 

[Bella]

Well will talk to my tax guys and lawyer types I know but given how things are often figured I wonder if since the vehicle was ordered and funds were paid in July 2021 and have documents to show it from Dealer that occurred. Does that count as a purchase in the eyes of the govt and if so can we claim the credit? My wife's BMW PHEV hybrid certainly does...but having the Taycan CT credit was also part of the planning/deal also going forward eventhough my car delivery is not scheduled till late Jan 2022. My buddy is going to his dealer to "pay his car forward" for his Ford Mach E GT which I think is gonna be about $70k so he can claim his rebate if they will let him...doesn't car when it gets in! LOL.

Obviously check with your Accountant but I was told by my SA and Accountant that until Title changes you’re out of luck. The Title only changes when you take actual physical delivery.

 

[RallyG]

Here's my updated ETA after being delayed 4 times now. Original ETA was 11.19.21. Ordered it back in July 7th. So depressing.

I am obtaining my information from Track your dream. Where is the above chart obtained?

 

[Tandrup]

Obviously check with your Accountant but I was told by my SA and Accountant that until Title changes you’re out of luck. The Title only changes when you take actual physical delivery.

I asked my tax attorney as well and got the same answer.

 

[Tandrup]

For those of you on the RCC Classic. The vessel has left Southampton and is on its way to Emden. ETA in Emden is 11/7 in the morning. I don’t know how long they typically stay moored to load, but I’m hoping we leave Emden some time next week.

 

[Climax_F82]

I'm in a similar position. Deposit paid on June 19th, got the allocation in July. Initial date was Dec 3rd, changed to 10th>17th>Jan7th and today it changed to Jan 14.

What I don't understand though, is my vehicle finished production today, one week early. It was showing arrive at the port on 1/7 and then get to dealer on the same day. Now it shows arriving at the port on 12/31 but taking 2 weeks to get to the dealer.

Also the "overview" section states that the vehicle is in stage 2, which is "vehicle scheduled for production". Track Your Dream says the vehicle has been produced which is stage 3.

Yeah I got rhe email last week also saying it has been produced *stage3* but according to my dealer and the other option it still shows in production. Just worried I won't be able to get the $7500 tax credit.

 

[Henke]

same here. I ordered in April with July as initial delivery date that may get pushed into January. When ordering options got extra factoring in the tax rebate.

Well will talk to my tax guys and lawyer types I know but given how things are often figured I wonder if since the vehicle was ordered and funds were paid in July 2021 and have documents to show it from Dealer that occurred. Does that count as a purchase in the eyes of the govt and if so can we claim the credit? My wife's BMW PHEV hybrid certainly does...but having the Taycan CT credit was also part of the planning/deal also going forward eventhough my car delivery is not scheduled till late Jan 2022. My buddy is going to his dealer to "pay his car forward" for his Ford Mach E GT which I think is gonna be about $70k so he can claim his rebate if they will let him...doesn't car when it gets in! LOL.

Yeah I got rhe email last week also saying it has been produced *stage3* but according to my dealer and the other option it still shows in production. Just worried I won't be able to get the $7500 tax credit.

Would be interested in anything you hear from your Porsche SA or your accountant. I spoke to my accountant and this is what he said: "The IRS language is vague… it says for vehicles “acquired.” If you have already purchased the vehicle, I’d argue you acquired it. But if the sales process is not complete until you actual receive the car, it would be hard to argue that a deposit alone consummated the act of acquisition. Can you complete all of the purchase paperwork before year end, or does that wait until delivery?"

I think we are almost certainly going to lose the credit unless we get the car before end Dec. I think Porsche should step up and offer some kind of goodwill. They don't have to but as I said before, currently the buyer is absorbing costs associated with the delay.

 

[dardleflom]

Update from this morning. Mine has now completed BP8.0 and is on it's way to Emden:
Start Production date - 10/26/21 (complete)
Finish Production - 10/30/21 (complete)
In Transit to Emden Port - (current)

Arrival Emden Port - 11/05/21 (est)
On Vessel - 11/26/21 (est)
Arr Benicia, CA - 12/31/21 (est)
At Dealer in SLC - 01/07/22 (est)

It is interesting to see everyone's dates - especially that some of you have the same estimated delivery date even though your cars are heading into production later than mine. Will be interesting to see how this changes as we get closer to delivery. Good luck everyone!

For those of you on the RCC Classic. The vessel has left Southampton and is on its way to Emden. ETA in Emden is 11/7 in the morning. I don’t know how long they typically stay moored to load, but I’m hoping we leave Emden some time next week.

My TYD now says my vessel load date is 11/12, not 11/19 anymore.

 

[tbinmd]

Would be interested in anything you hear from your Porsche SA or your accountant. I spoke to my accountant and this is what he said: "The IRS language is vague… it says for vehicles “acquired.” If you have already purchased the vehicle, I’d argue you acquired it. But if the sales process is not complete until you actual receive the car, it would be hard to argue that a deposit alone consummated the act of acquisition. Can you complete all of the purchase paperwork before year end, or does that wait until delivery?"

I think we are almost certainly going to lose the credit unless we get the car before end Dec. I think Porsche should step up and offer some kind of goodwill. They don't have to but as I said before, currently the buyer is absorbing costs associated with the delay.

The odd thing is that when you do European Delivery, you need to pay for the car before you leave. Technically the car is yours, but it's not titled and tagged in the US until it's back in the states. I've also done PECATL and for that you also pay before you go, but I also received tags my permanent tags for the car. I guess it depends on when the dealer can make the car sold, typically I think they have to be in pssesen of the certificate of origin, that way they can apply for a title.
Both with my ED's and PEC delivery PCNA sent paper work to the dealer so they could finalize the sale. Our CT was originally 12/31 but has slid to 1/7/22. Enroute to dealer is 12/31 now, which it doesn't take 7 days to go ~25 miles to the dealer from the port. Still hoping we get it in 21. Car is in production right now. Should be finished next week.

 

[Ajes]

Would be interested in anything you hear from your Porsche SA or your accountant. I spoke to my accountant and this is what he said: "The IRS language is vague… it says for vehicles “acquired.” If you have already purchased the vehicle, I’d argue you acquired it. But if the sales process is not complete until you actual receive the car, it would be hard to argue that a deposit alone consummated the act of acquisition. Can you complete all of the purchase paperwork before year end, or does that wait until delivery?"

I think we are almost certainly going to lose the credit unless we get the car before end Dec. I think Porsche should step up and offer some kind of goodwill. They don't have to but as I said before, currently the buyer is absorbing costs associated with the delay.

Law says this:

- You placed the vehicle in service during your tax year.


Key term being placed in service.

From

https://www.currentfederaltaxdevelo...t-placed-in-service-by-year-end-credit-denied

Noell tell us that the vehicle could not be considered placed in service unless and until the vehicle was readily available to serve its assigned function for petitioners' personal use on a regular basis.

Dealers want to sell the car cannot believe anything they say regarding tax credit.

 

[electric9925]

Got off the phone with Porsche NA because I never got my TYD. They said they’ll send it over in 24-36 hours, the only thing that’s not so great is the operator says from her end it shows the car won’t get here till 1/20, which is weird cause the dealer showed me on his computer as 1/7 (also 1/20 isn’t a Friday which is what Porsche always uses as conservative dates)

 

[Henke]

The odd thing is that when you do European Delivery, you need to pay for the car before you leave. Technically the car is yours, but it's not titled and tagged in the US until it's back in the states. I've also done PECATL and for that you also pay before you go, but I also received tags my permanent tags for the car. I guess it depends on when the dealer can make the car sold, typically I think they have to be in pssesen of the certificate of origin, that way they can apply for a title.
Both with my ED's and PEC delivery PCNA sent paper work to the dealer so they could finalize the sale. Our CT was originally 12/31 but has slid to 1/7/22. Enroute to dealer is 12/31 now, which it doesn't take 7 days to go ~25 miles to the dealer from the port. Still hoping we get it in 21. Car is in production right now. Should be finished next week.

Mine originally said arrive at the Port on 1/7 and dealer the same day. Production supposedly completed yesterday a week ahead of schedule. I should say a week ahead of the latest schedule as it was originally scheduled to be compete 6 weeks ago and had continuously moved later. Now it arrives at the port on 12/31 but doesn’t arrive at the dealer until 1/14. Not happy about that at all!

Sponsored