Reply To: New USA EV Tax Credit IRS Stipulation updated

[Scott Davis]

With my understanding @SHale is correct if you converted to an non refundable order deposit you should be able to get Fed Credit or Vinfast will give you a rebate of the $7500 per their word. However, from what I have read and keep reading though I think Vinfast will be giving the $7500 rebate as my understanding from the Stipulations that the IRS released last week any vehicle purchased or order placed before the signing and not delivered until after 1/1/23 will not qualify for credit. Here is a link to the IRS site talking about binding contracts and other stuff.

https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-beforehttps://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before

I am guessing the Vinfast will not qualify for tax credit as all vehicles did not start delivery until after 1/1/23. However, if one were to just lease the vehicle it will qualify for full $7500 credit as it is then considered “Commercial use”.

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