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Current IRS guidance is at the link below. They could have made it very simple and clear if a 5% non-refundable deposit was the only way to have a "written binding contract".
Just a note about the URL, it is listed in a business area, but the information for individual returns links to the same location.

As is always the case, there are vagueries written into everything so legality can be challenged, but the basis for the "binding contract" is not defined by federal law. As cited in the URL above, the binding contract is defined by state law, and the 5% everyone is so focused on is given merely as an example.

...a written contract is binding if it is enforceable under State law and does not limit damages to a specified amount.
 

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@JdM posted…

“Lastly the elephant in the room - EVs can replace ICE cars - which is hilarious. I can take my truck for a long haul with a meager 5 min pitstop to refuel. Now compare that with an hour every 300 miles to recharge? It's extremely inconvenient and doesn't justify the hype and the price tag.”

I think that needs a bit of clarification. Just as every driver doesn’t need a truck for personal transportation, not every driver needs to drive extended ranges on any regular basis. If you need to haul 3-4 children around, a minivan might be ideal… not so much an individual. Many, many folks drive less than 25-50 miles a day, and with a level 2 home charger can quite easily live within the constraints of an EV. For those folks, they can simply drive by gas stations and never stop.

Painting a canvas with such a broad brush often ignores the real state of affairs.

Are EVs higher priced than EVs? Sure. It is indeed new technology, and new technology often comes with initially higher price tags, if for no other reason than supply and demand pressures.

Realistically, if the driving public was looking singularly at the cost of personal transportation, there wouldn’t be any need for a vehicle model optioned any higher than a base level Chevy Spark or Nissan Sentra… and even those could be de-optioned considerably and still serve the function of transportation. No sports cars, no luxury cars would be sold.

But, that would put us squarely back into the supply and demand thing. Drivers want nicer, more optioned vehicles, and that’s precisely why we have high-level vehicles being offered by every manufacturer.

EVs aren’t for everyone, no more than an extended cab heavy duty pickup would be… but for those whose driving requirements fit into the constraints, they’re quite functional.
 

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You are correct, my mistake on my wording. I’d be interested if anybody did put down 5% or more and had it as non-refundable. Gutsy move if someone did on a car mostly unseen or test driven by most of us. I know when Fisker asked for the $5K non-refundable deposit, many reservation holders balked at it.
I may be in the minority but that was my case.

I actually had two deposits down. One was $500 but had a dealer markup of $5000. The other dealer required a non-refundable $5,000 deposit, and selling at MSRP. Figured that they were so hot, if I didn't like it there would be a strong resale market.
 

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I may be in the minority but that was my case.

I actually had two deposits down. One was $500 but had a dealer markup of $5000. The other dealer required a non-refundable $5,000 deposit, and selling at MSRP. Figured that they were so hot, if I didn't like it there would be a strong resale market.
That’s great and nice job guaranteeing your $7,500 rebate. Hopefully the car arrives soon and as good as we all hope.
 

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Are you saying that the Solterra is going to get a design change in two years before the first ones even arrive?
He's just spewing the typical anti-EV nonsense, wanting a black and white view of a grayscale world. His first paragraph is basically a collection of half-truths that only look at half the equation. His claim that we won't see Solterras until 2024-25 is laughable, but I'm sure he believes it... or more accurately, WANTS to believe it so he can try to put down early EV adopters. Rewind the clock 100 years, and you'll see people making the same kinds of arguments against ICE cars.
 

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On the tax credit issue, I have 2 observations. One is a factory order form which says, in big red letters, "This contract is binding upon the signature of both the dealer and the customer." So yes, I intend to claim binding contract, despite not having made a 5% down payment.

Secondly, the letter of the law and it's application are two very different things. I would not be at all surprised if things changed before tax season begins. For one thing, the IRS usually doesn't change the application of tax law in the middle of a tax year because of the additional. Administrative effort required.

So I think the jury may still be out on that one.
 

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With all due respect to those who have invested their money - listen to this.

The EV car market is an unnecessarily hyped one. Tesla lit the fire and it's spreading like wildfire. It's a completely new technology and all the EV vehicles are buggy and still a long way to go for attaining decent quality. Tesla owners know exactly what I mean. Saying that, the first myth that EVs are green is [email protected] It takes up the same or more resources to put one on the road as an ICE vehicle. Secondly the myth is that they do not contribute to the environmental mess we've created. No no... They contribute equally by adding battery waste and chemicals into the environment. Lastly the elephant in the room - EVs can replace ICE cars - which is hilarious. I can take my truck for a long haul with a meager 5 min pitstop to refuel. Now compare that with an hour every 300 miles to recharge? It's extremely inconvenient and doesn't justify the hype and the price tag.

So stop fantasizing EVs. It's a scam. The EV market has a long way to go to become mature, affordable and equivalent to an ICE vehicle. Long long way folks!!

BTW my dealership here in Vancouver is probably the most honest one I guess. They clearly told us that the Solterra would be available somewhere in 2024-2025. The prices are going to be completely different when they arrive and mind you, the car's also going to be very different in 2 years. As of now its just a fantasy!!
And yet - here you are.
 

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If I'm not wrong, the Lexus RZ450e use the same wheel attachment as the BZ4X and the Solterra.
On the US Lexus site, the car is still planned for December 2022. I saw on this forum that some of you have received recent news from their dealers announcing a report till December for the Solterra. Seems we have here an interesting planets alignement 🤞
Lexus RZ 450e
 

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Your attachment doesn't seem to be there....
Hmm must have deleted it. If I recall correctly it was a screen shot of a chat conversation in which someone said the Solterra was delayed to 2024. (EDIT: 2023. Apparently I remembered wrong.) It was very informal (e.g. "u" instead of "you") so not all that official. I think it's all hearsay at this point
 

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Here’s a copy that was posted on ToyotaOwnersClub UK.
View attachment 1134
It’s true. It’s massively delayed.
Here’s a copy that was posted on ToyotaOwnersClub UK.
View attachment 1134
Alright - I deleted it because you're all a bit harsh on here. I occasional post directly received information on here. It's a little ridiculous that everything is an attack... The message was directly from my dealer, yes we have casual conversations. The delay, according to him is going to last into 2023. I cancelled my Solterra and only have an interest in helping keep others informed.
 
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