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Converted to an order?
Just curious how many might have converted their reservation to an order prior to Biden signing the new IRA bill? I did right away because it would seem to secure getting the $7500 from either the IRS or vinfast if the IRS refuses the credit.
About the only thing it costs is the $200 deposit would no longer be refundable. Meh.
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I did that too, the $200 isn’t too much of a risk for a possible $7,500 upside. I assume VF will be eligible again once they start producing from the NC factory but that will take a while
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I jumped at the chance as well, it was worth the risk. Vinfast is willing to backup the $7,500 if IRS declines so I assume I’ll have to tell my accountant (although she may push back) to file my taxes with EV tax credit but if I’m denied, I have to pay the tax accountant to file an amended return which would cost me more money. I welcome some clarity from Vinfast on this issue if they care to comment.
Thank you
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Purchase date vs. delivery date
If you entered a written binding contract to buy a vehicle before August 16, 2022, but took possession on or after August 16, 2022, and before January 1, 2023, you may claim the credit based on the prior rules and disregard the assembly requirement.
If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don’t take delivery of the vehicle until 2023, see Credit for New Clean Vehicles Purchased in 2023 and After.Purchase date vs. delivery date
If you entered a written binding contract to buy a vehicle before August 16, 2022, but took possession on or after August 16, 2022, and before January 1, 2023, you may claim the credit based on the prior rules and disregard the assembly requirement.If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don’t take delivery of the vehicle until 2023, see Credit for New Clean Vehicles Purchased in 2023 and After.
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In my mind, it was a win-win conversion at the time. Vinfast gets to sell the car, I get an assurance EV rebate is covered so I also converted. However, my account still says the $200 deposit is refundable to this date.
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But you got the email confirming this conversion back then, did you not?! That’s what counts!
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I did get the email asking if I wanted to convert to a binding agreement.
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As of today, VinFast is not on IRS list for eligible EV incentive. There are many questions and challenges for VinFast to deal with now. First and most important is the price of their car to compete with the number one brand Tesla. The VF8 plus must be less than 50K includes at least a 330 Miles battery pack to win back their customer. Second and as always, on time and meet all the qualities promised.
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Yep. I did too. Massive upside considering the public statement Vinfast made that they’d discount the price by $7,500 if the US government didn’t honor the tax credit for buyers who converted their reservations to orders. Still twiddling my thumbs waiting for when Vinfast sends an update about the VF9’s going to market instead of hyping their VF8 City Editions and new 6/7 models.
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VinFast needs to clarify on their promise of giving $7500 discount now that I don’t see the company is listed as qualified manufacture. Also from IRS website, you will not be eligible for incentive if you don’t take delivery before 1/1/2023.
Purchase date vs. delivery date
If you entered a written binding contract to buy a vehicle before August 16, 2022, but took possession on or after August 16, 2022, and before January 1, 2023, you may claim the credit based on the prior rules and disregard the assembly requirement.
If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don’t take delivery of the vehicle until 2023, see Credit for New Clean Vehicles Purchased in 2023 and After.
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I did that. But it is still showing as fully refundable on their website. May be because they haven’t promised any price that is acceptable to us at the time of contract. And the way they are pricing the vehicles not sure what benefits we early bookers will get at the time of delivery.
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