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According to Engadget (This article and its images were originally posted on Engadget October 12, 2018 at 09:33AM.)
If you want to want to take advantage of Tesla’s $7,500 federal tax incentive, you’ll have to reserve one before October 15th and pay for it before the year ends. Back in July, the automaker announced that it has already sold 200,000 units, and under the law, that means it has hit the ceiling for federal tax credits. Now, the company has revealed a timeline for the incentive’s phase out, so you plan accordingly.
The company guarantees that all orders placed by October 15th will be delivered by the end of the year. You’ll have to take delivery — that is, pay your balance in full “either personally or by way of guarantee from a financing institution” — by December 31st, 2018, but you will get the full incentive. If you put off your purchase or don’t take delivery until next year, though, you can say goodbye to that $7,500 in savings.
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