Tesla Model X To Cost Less As It Qualifies For Tax Credit

Tesla Model X To Cost Less As It Qualifies For Tax Credit

Tesla Model X is the first all electric car on offer from Tesla Motors. The car has been on sale in the market for a few days now. The Model X SUV is built with lightweight materials to make it a viable electric car. There is news now that the Model X from Tesla is eligible for a big tax break in the country under section 179.

The main reason for the tax breakers is that the battery powered Tesla Model X is just 5441pounds in weight. This will give the consumer a tax rebate of $25,000 from its actual price.

The possibility of the reduction in the price of Model X discussed at length on the forum of Tesla Motors as well as at the Tesla Motors Club. The Gross Vehicle Weight Rating (GVWR) of the Model X is about 6768 pounds. Tesla has confirmed that the curb weight of Model X is just 5441 pounds and hence the GVWR exceeds 6,000 pounds. This helps the car to enjoy the tax deduction under section 179. The car could be purchased up to $25,000 less than the MSRP.

There is no doubt that Tesla Motors will enjoy great benefits, thanks to this deduction. This will help Tesla to easily achieve its projected sales target of about 30,000 units of the Model X SUV.

If a customer wants to buy the Tesla Model X with the deduction of $25,000, he or she would be asked to prove that the vehicle will be used only for business purposes. Tesla said that the company always asks its customers to get in touch with the tax accountant before buying the car. This is encouraged by Tesla because every person will have different tax situation. The car manufacturer goes on to say that it does not guarantee that all its customers will be able to enjoy a deduction of $25,000 for the Model X under section 179. If the IRS feels that the tax report of the buyer is good, then they will be able to enjoy the tax deduction.

The Model X SUV is not just a light SUV, but is the most efficient all electric SUV that you find in the market today. It does not harm the environment like the other vehicles and hence the tax deduction for businessman is the icing on the cake.

If a buyer is not running a business, he or she can avail the standard $7,500 tax break that is still running.

October 10th, 2015 by