Reporting back here...
As an update, I am getting the truck delivered today. Was such a damn hassle dealing with Koons. Everyone I talked to was a brick wall, but after enough micromanaging I ended up with a good deal - price wise better than anyone else that I started shopping around for. They...
Will the IRS fix any screw ups by dealers in all likelihood? Yes, probably.
But will it be next year or 2-3 years down the road? What if the IRS moves the goalposts and says I have to report it in a particular year 2-3 years where I made too much money and wouldn't be able to claim it?
https://www.irs.gov/pub/taxpros/fs-2024-26.pdf
@chl scroll down to bottom of Page 20 of this FAQ straight from the horse's mouth. It doesn't cite the relevant IRC section, but it does indeed say seller has to report it:
Q30. Is every new and previously owned clean vehicle sale required to be...
Friday update: I asked the new car sales manager (4th or 5th person I've spoken to at this point) for an update and got this response (copied and pasted verbatim):
I have a meeting today address this issue with Ford and the IRS. I am hoping the website gets resolved and we are actually able to...
So as an update, Ford bailed out the dealer-and not in the way you'd expect.
Ford extended the 0% 72 mos deal through the end of September. So, they don't have to make the sale date 9/3/24 which would've required them to get the reporting to IRS by tomorrow. Thus it's not as time-sensitive of a...
Agreed. I deal with government bureaucracies almost daily in my profession-I'm not leaving anything to chance. Will I be able to report the tax credit regardless of what the dealer does? In all likelihood, yes. But I'm not risking anything and I want it to be done right before the sale. There is...
So I showed the dealer all rhe IRS literature-including the FAQ section. The finance folks were clueless (young finance manager has been the problem all along). This got routed to new car sales manager who acknowledged the form that was sent was wrong. He also said theyād had trouble uploading...
Couldnāt agree more. Iāll keep yāall posted on what these folks do this morning. Unless they can get their shit together and add in the discount right here right now Iām walking away. Really disappointed as this ā23 Lariat had every option I couldāve asked for!
Iām not worried about the 3 day requirement they report it to me. Iām worried about the 3 day rule that they report it to the IRS. It says on all the IRS literature posted in here that one canāt claim the tax credit if itās not reported to IRS within 3 days of sale.
Alsoā¦glad you think the...
No it was Stone Gray Lariat, ā23.
It was definitely a red flag for me when they said it but I didnāt care that much bc it was going to be 0% financing and $7500 less to pay in taxes come April. Now of course things have changed just a bitā¦
I have esigned a few things basically to lock in the FMMC rates, but it technically has the date of sale being August 30, 2024. Thatās what got me concerned. I havenāt signed the buyers order or any of the other docs that require a wet signature, but they all have dates of Aug. 30. The FMMC...
Dad gum it. Thatās what I was afraid of. I had locked in the 0% financing deal at 72 months and they gave me a great deal.
there is literally no way for them to fix this now? They canāt go ahead and register with the IRS?
This is what I was worried about. I almost donāt want to go through with the deal at this point bc I feel like Iām gonna get totally screwed on this. I suppose they could get me something in writing wherein they affirm that theyāll reimburse me for $7,500 if they screw it up but I doubt thatāll...
Iām buying one of the last ā23 Lariat ERās from Koons Sterling Ford in VA. Having it shipped to me in GA. Havenāt been impressed with them at all in terms of competency but theyāre giving me a great deal and covering the shipping.
One thing that im questioning is how theyāre handling the tax...
1 and 2-see above. Glad to answer any other questions you may have.
3. Maybe, I'd like to see what kind of offers I can get on a new '23. But I'd be interested in selling it regardless! I still have a Ford extended warranty thru 2031/125k miles (about a 4k value), which I'd have to imagine is...
Man, I absolutely love the PB, I really do. The King Ranch is such a great look both on the inside and outside. I get at least 650 miles per tank on this 120 mile commute, but if I drove just around town 10 or so miles a day like I used to I bet I could get 700+ on the reg and never have to fill...
This is very encouraging, especially the part about dealer offering $7k off. Were you also able to get any kind of 0% financing? Between their varying rebate and finance offers throughout the year, I am wondering if Ford is just offering 6 in the spring and half a dozen in the summer, if you...