Prius Prime - official prices paid thread

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I think you put a final piece of information as we said, the devil is in the details .

There will be no more credit since this IRA 2022 was signed into effect 8/16/22.

Alternative Fuels Data Center: Inflation Reduction Act of 2022
This site is not listing TOY as qualified for the existing model 2022.

I hope everyone signed and received the vehicle after yesterday get the check is in the mail.

EV-

 

As I read this, if you have a dated signed purchase agreement prior to yesterday, regardless of when your car actually hits the dealer lot (you will either get the 4502 or the 2250 depending on if it is before or after sept 30

 

When anyone faces a dreadful audit from the taxman, I hope we have more proof than what we read on the internet. I do hope for everyone to get the full credit.

The timing can not be any worse for our Prius buyers.

 

Yep, I am canceling my reservation for Solterra and the waiting list for the Rav4Prime. I may have to put an order for either Leaf this year or Bolt next year. My understanding is that for GM and Tesla the new credit will not start until 2023. So, purchasing now until the end of the year is not going to save anything.

I also have put reservation money down for Silverado EV for next year's release. It is not on the list yet, but I am hoping it will be

 

I beleive the new laws mentions about the battery must be made in NA In order to get full Fed credit.
If not buyers only get certain percent of the Fed credit.

 

Hot off the press:
The IRS has defined the "written binding contract", of course, after it is too late for anyone to apply their rule.

Plug-In Electric Vehicle Credit IRC 30 and IRC 30D | Internal Revenue Service

What Is a Written Binding Contract?
In general, a written contract is binding if it is enforceable under State law and does not limit damages to a specified amount (for example, by use of a liquidated damages provision or the forfeiture of a deposit). While the enforceability of a contract under State law is a facts-and-circumstances determination to be made under relevant State law, if a customer has made a significant non-refundable deposit or down payment, it is an indication of a binding contract. For tax purposes in general, a contract provision that limits damages to an amount equal to at least 5 percent of the total contract price is not treated as limiting damages to a specified amount. For example, if a customer has made a non-refundable deposit or down payment of 5 percent of the total contract price, it is an indication of a binding contract. A contract is binding even if subject to a condition, as long as the condition is not within the control of either party. A contract will continue to be binding if the parties make insubstantial changes in its terms and conditions.


ho man, I sure hope I can get my Ford Escape PHEV before 12/31/2022. While the signed buyer's order I recieved last minute from my dealer doesn't meet the definition above, becuase it is built in the US, I might quality for $7500 (a slight increase actually vs $6,843)...
U.S. says about 20 models will get EV credits through end of 2022 | Reuters
https://www.fueleconomy.gov/feg/taxevb.shtml
I ordered this in January 2022! I thought I'd get it prior to 9/30 for sure. Now my hope is that it gets built in Oct and delivered in Dec...

My other thought on the new law - used PHEVs and EVs might get a boost in resale value when the 30% / $4k used vehicle eligibility takes place. So that might be a good time to sell a Prius Prime or Escape PHEV for us...

 

And then walk to work. Prius and Prius Prime seem to be no longer in production and are unavailable to buy new.

 

Updated information for consumers as of August 16, 2022
New Final Assembly Requirement
If you are interested in claiming the tax credit available under section 30D (EV credit) for purchasing a new electric vehicle after August 16, 2022 (which is the date that the Inflation Reduction Act of 2022 was enacted), a tax credit is generally available only for qualifying electric vehicles for which final assembly occurred in North America (final assembly requirement).

^^
The above is what concerns most people. I thought IRS 30D was good through December 31, 2022. However, now, we know that IRS 30D died on August 15, 2022, and Prius Prime and most other EVs no longer qualify for any tax credit as of yesterday (August 16).

It's time for me to get my fully refundable $500 deposit for a new Prius Prime from Longo Toyota.

 

I think we all have to be careful here not to make hasty decisions. The final assembly rule doesn't apply to anyone with a binding contract you signed prior to biden signing in the new law. BUT the sticking point I'm questioning is the statement that the associated deposit needs to be at least 5% of the cost of the car. Nobody puts down that much.

 

Not only that but also nonrefundable. Most deposits are refundable. Moreover, Prius and Prius Prime seem to be no longer in production.

 

Where did you get the info about the prime no longer being in production? I don't believe that is accurate...at least for the US

 

There have been quite a few news about the production ending, COVID shutdowns, etc. I don't know this as a fact. The current Prius and Prius Prime inventory is next to nil. No one is buying pickup trucks though, and there are hundreds of Tacomas for sale.

 

They are still producing. There is no Toyota announcement. They did shut down a few lines in the factory they build them in for a few days in August. They also have a week shut down (this week) of all factories. The low inventory is due to issues with supply chain. Toyota announced a few days ago that overall production will be higher in the 4th quarter. If they were no longer going to be producing the primes there would have been an announcement. I have read that the prius line would be reduced to the Prime only in Europe where they seem to prefer EVs.

 

Yep! We've been down to one vehicle (Prius Prime) after I sold my Rav4 Prime for a high price. Thought my Escape PHEV would get produced by June. Been riding my bike to work instead.
I've also requested my refund from Longo on a Rav4 Prime - put down in 10/21.

The tax credit arbitrage was fun while it lasted. We were able to upgrade our 2020 PP to a 2021 for a tiny profit, and when we originally bought the 2021, it netted out to $18.7k or so after Toyota Cash, tax credit, incentives and rebates. I am glad that the used car tax credit might prove useful to people who aren't savvy-enough or don't have the funds to purchase new EV/PHEVs.

 

Did you get yours? You might want to get it from one of the dealers where it is currently available.

https://www.cars.com/shopping/results/?list_price_max=&makes[]=toyota&maximum_distance=all&models[]=toyota-prius_prime&sort=distance&stock_type=new&zip=06074

 

No I didn't and I turned down a dark metallic gray....would not have been happy. I may rethink a phev at this point. I even checked into the approved list...a ford escape plug in is a 6 mo plus wait. Since I need a car by January, that is not an option. Really had my heart set on the prime but this 5% deposit rule may be the last straw. Looking to see if that might get modified. My contract says non-refundable....

 

No I didn't and I turned down a dark metallic gray....would not have been happy. I may rethink a phev at this point. I even checked into the approved list...a ford escape plug in is a 6 mo plus wait. Since I need a car by January, that is not an option. Really had my heart set on the prime but this 5% deposit rule may be the last straw. Looking to see if that might get modified. My contract says non-refundable....

 

Posted via the PriusChat mobile app.[/QUOTE]

2022 Prius Prime LE
Titanium Glow
Sticker $30313
Options $275
NYS Clean Air rebate $500
Toyota Customer cash $500
Out the Door price with tax: $31992.00
Dealer: Johnstons Toyota New Hampton, NY
Best dealership in NYS- no add-ons/ no markup: total integrity
MY THIRD PRIUS!!

 

2022 Prius Prime LE
Titanium Glow
Sticker $30313
Options $275
NYS Clean Air rebate $500
Toyota Customer cash $500
Out the Door price with tax: $31992.00
Dealer: Johnstons Toyota New Hampton, NY
Best dealership in NYS- no add-ons/ no markup: total integrity
MY THIRD PRIUS!![/QUOTE]


AM I reading this correctly- a Prime? less than 32K out the door?

I am being charged 37K for a prius le. in FL.

 

Wow it seems like the two prius primes I got from Longo Toyota in CA for family were the last ones before the IRA EV credit cutoff occurred. Crazy timing.. was almost going to suggest they wait a month for the 2023 models.. glad I didn't. 8 Month wait but at least they got it for MSRP. Going to cancel my rav4 prime and 3rd prius prime waitlist I had with them as it's pointless now.

NOTE: $450 Clean air rebate in california is expiring end of month until they get additional funding. So that's going out too.