DennisCW | Tesla, EVs, Tech & Money

IRS Updates on $7,500 EV Tax Credit: What Tesla Buyers Need to Know

Hey everyone, Dennis here from DennisCW! If you're in the market for a Tesla or any electric vehicle, things just got a whole lot more interesting with the latest IRS guidance on the $7,500 federal tax credit. In this post, I'll break down the new rules, share some insider tips on scoring the best deals, and cover other hot Tesla topics from my recent video. Let's dive in!

The Big News: Extending the $7,500 Tax Credit

The IRS has dropped some game-changing updates for EV buyers. The $7,500 federal tax credit is set to phase out for many vehicles by September 30th, but there's a way to lock it in even if you can't take delivery by then. The key? Entering a binding contract and making a payment before the deadline.

According to the IRS: "A vehicle is acquired as of the date a written binding contract is entered into and a payment has been made. A payment includes a nominal down payment or a vehicle trade-in."

This means you don't have to physically get your Tesla by September 30th. A small deposit or trade-in could qualify you, giving manufacturers like Tesla, Rivian, and Lucid time to deliver in October or later. We've seen this before—companies like Rivian used binding agreements to secure credits in the past.

For Tesla specifically, that $250 deposit might count as "nominal," but we're waiting for official word. If you're planning to buy, place your order now and use a referral code (like mine in the description) for perks like three months of Full Self-Driving (FSD). This could buy you an extra 30-90 days without rushing delivery.

Stay tuned—I'll update as Tesla and others clarify their processes. In the meantime, if you're eyeing a Model Y or 3, this is your chance to save big!

Hack Your Tesla Deal: My Ultimate Checklist

I talk a lot about "Tesla deal hacking"—getting the absolute best price on your new ride. With so much info out there, I created a 17-step Ultimate Tesla Deal Checklist to guide you through saving thousands. It covers everything from timing your purchase to stacking incentives.

Link in the description below—use promo code YOUTUBE for 40% off (first 50 people only). Combine it with a Tesla referral for even more value!

Sponsor Shoutout: Protect Your Data with Aura

Before financing your Tesla, protect your credit! Data breaches are rampant—Bank of America waited a month to report one recently. Aura scans the dark web for your info, reduces spam calls, removes your data from brokers, and includes $5 million in identity theft insurance.

Try it free for 14 days at aura.com/denniscw. Don't wait—secure your info before applying for that loan!

Crazy Cybertruck Trade-In Offers

Tesla is making waves with insane trade-in values for Cybertruck owners. Some are getting nearly 100% of their purchase price back! For example, a 2024 Cyber Beast with 21,000 miles fetched $118,800—basically a full refund.

If you own a Cybertruck, head to Tesla's trade-in site now. It might be a strategy to encourage upgrades, especially with the new $115,000 Cyber Beast Lux package (includes FSD, premium services, and more). Prices are jumping, so act fast if you're in the market.

Must-Have Tesla Accessories from JOA

Your new Tesla comes with zero accessories—not even a phone mount. Check out JOA for essentials like mounts, organizers, and even a portable air compressor or electric scooter.

Use my promo code below for savings and free shipping on orders over $120. I use their stuff daily—highly recommend!

Model Y Upgrades: Leveling Kit and More

Just installed Unplugged Performance's new 1.5-inch leveling kit on my Model Y, and it's a game-changer. It raises the ride height for better visibility, comfort, and curb appeal without going full off-road. Priced at $495, it's worth it for that SUV feel.

Watch my full review video for details, and use the link below for a promo on your first order.

Also, spotted a potential "affordable Model Y" prototype at Fremont—exciting times ahead!

Other Tesla Tidbits

FSD Half-Off Deal: DM me on Instagram to join the waitlist if you haven't taken delivery yet.
Starlink on Airlines: Coming to United, Qatar, and more—fast internet in the sky!
Cybertruck Rentals: $60/day through Tesla Collision, including free Supercharging and FSD.
Floor Mats Deal: Grab 3W Liners with code DENNIS35 for 35% off—lifetime warranty and better than OEM.

Wrapping Up

The IRS update is a huge win for EV buyers, potentially extending that $7,500 credit. Pair it with my deal hacks, and you're set for massive savings. What do you think—will you lock in a binding contract? Drop your thoughts in the comments!

Thanks for reading! Hit like, subscribe, and check the links below. Catch you in the next one.

Links:

IRS Updates on $7,500 EV Tax Credit: Extensions and Tesla Deals