IRA Federal Tax Credit can save you $7500 when buying an Electric Vehicles EV

One of the reasons for me to purchase my Tesla Model Y now was that I got the full IRA Federal Tax Credit of $7,500 - that is a substantial amount of money to save when buying a new EV. It surprises me that still a lot of people don't seem to know about this tax incentive. I think it is worth to understand the program because makes an EV more affordable.

All variants of Tesla Model 3 and Model Y qualify for this credit, among other selected brands and model such as Chevrolet Bolt, Ford Marche, GM Lyric, VW ID4, etc. The credit amount depends on criteria such as where the car is made, where the battery is made and where the battery materials are coming from. Therefore, the credit might change over time for certain cars. In addition, there is a requirement regarding income and price of the car. You can find more details about this here IRA Clean Vehicle Purchase Credits.

Tesla has posted a short summary regarding price and income on their website that explains this in more detail. Take a look to see if you might qualify.

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Another Price Reduction for Model Y

Beginning of a new quarter and Tesla has reduced prices for Model 3 and Model Y (again). The Long Range Model Y is $2,000 cheaper and now costs $48,490 (before it was $50,490). Again, with a potential IRA federal tax credit of $7,500 this gets close to $40k for a medium sized luxury SUV. Tesla also introduced a new RWD (rear wheel drive) Model Y with 270 miles of range for $43,990. With the tax credit this moves towards $35k. Prices were also reduced for the Model 3. Well, just like many others, I bought my Model Y at a higher price a while back. But I consider this as something that was expected. For one, Tesla tries to make the cars cheaper so that more people can afford an EV, and second, new technology (remember iPhone) is first more expensive with prices coming down over time. Well, Apple seems to go the other way now, since more phones cost close to $1,000, but that is a different story. So, since I have bought my Model Y for the long-term (10 years) I don't worry too much a

Cargo Liner for Tesla Model Y trunk

Because I have to transport stuff for my work, I decided to get a cargo liner for the trunk of my Model Y. It is kind of funny and similar to a phone case - you have this beautiful iPhone (machined and polished metal and glass) and then you cover it with plastic case. But I have to say that the cargo liner is not just protecting the cargo area, but also it makes it so much easier to clean the trunk. You can just remove the cargo liner, fold it up, and then "empty it out". The dirt, sand and other debris just falls out when you shake it a bit. Then you just put it back. You can also vacuum on a flat surface if necessary. How did I decide on the cargo liner? Well, I looked a the Tesla accessory vendors (Tesmanian, Teslarati, EV Base, etc.) and also at Amazon. When comparing I was looking at size, material, 60/40 split and price. I was aiming for a price of less than $100. Amazon had low price offerings, but they seemed a bit flimsy. Other vendors were more expensive. By readi

Charging Options for my Tesla Model Y

Many people that are not familiar with EVs still consider "range anxiety" as something to worry about when owning an electric vehicle. Of course, there is a bit more planning involved in road-tripping with an EV, but that is not necessarily bad since you have to take breaks anyway. But, let's first discuss the various charing options and how I use them: Home charging: The advantage of an EV is that you can charge it at home (if you have a place to park within 20 feet of electricity) and no need to spend time at gas stations for daily driving. There are three options for charging a Tesla at home using Tesla equipment (there are other home chargers that I don't discuss here) Wall Connector: This connector has to be installed by an electrician, requires 240V/48Amp and delivers up to 44 miles per hour. It costs $475 plus installation. There is a new variant "Universal Wall Connector" that has a connector for non-Teslas. Great if you have different brand EVs. M

My Tesla Model Y Experience

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