The new Inflation Reduction Act, which places a $80,000 maximum on the price of cars eligible for the entire $7,500 federal tax credit, has the electric truck manufacturer Rivian less than thrilled. Even though the majority of Rivian’s trucks cost far over $80,000, the company believes it has found a way to get around the system and give pre-order holders a tax credit.
As I’m sure you are already aware, begins a document reportedly sent to Rivian CEO, RJ Scaringe said, “the passed legislation’s ‘Transition Rule’ gives anyone with a “written enforceable agreement” in existence prior to the President’s signature the option to make use of the existing credit. The majority of your preorder customers have patiently endured the delays that come with a new automobile manufacturer. However, these delays have now left many of us in a situation where we may not be able to complete our purchases without the $7,500 tax credit.
Plan by Rivian: finish the open deals right now.
EL PLAN GETS CENTRED ON In order to start the purchasing process as soon as possible and take advantage of the credit while the trucks are still eligible, Rivian pre-order holders have been inundating the company with requests like the one above. The truck manufacturer claims that before new limits go into effect, it is “trying to help interested preorder holders and consumers get a formal, enforceable contract to purchase and secure EV tax credit eligibility.” (I added emphasis.)
Even though those clients won’t receive their vehicles until next year, it is believed that their legally binding contracts will still allow them to benefit from the $7,500 tax credit this year. But since this tax credit is “binding,” it’s unclear what may happen to consumers who claim it if their Rivians don’t show up within the specified window of time.
Or what might occur to Rivian if the clients who sign said contracts are unable to fulfill them when it comes time to accept delivery for whatever reason!
Having said that, you must move quickly if you want to take a chance and turn your Rivian per-order into a sale right this second! Before the House of Representatives votes to enact the Inflation Reduction Act and before President Biden signs it into law, your agreement must be in writing and be finalized. Therefore, if you haven’t received an email from the organization, you may want to contact customer service as soon as possible to let them know you’re ready to make a purchase.
Rivian, via AutoEvolution , is the source of the images.
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