Probably the correct decision for you, but you have a couple details not right about the Lyriq. For the $7500 tax incentive, you don't have to owe $7500 when it comes time for your taxes in April. Each week in your pay check you have some amount taken out. If you have your withholdings set right, this tries to target zero owe'd tax at the end of the year (some people have this too high or too low, hence a refund or owed amount in April). But the owed tax itself is being collected all year every week by your employer. Add this amount up for the whole year. That's where the $7500 tax liability comes from (if you have your withholdings setup right) - not the amount you owe in April. And also, you mention 2023 -> 2024 the Lyriq price jumped up from $65 to $70K (for the config aligning with your 2023 AWD). As you have a 2023 order being converted to a 2024, you would be getting a $5K private offer from Cadillac. This is to price protect you as a 2023 reservation holder that they couldn't fill, and will be money straight off the car at time of purchase. So the price is actually the same as 2023, and you have a $7500 tax rebate also. And you'd be getting a newer model year car.

@HJ-USA

Жыл бұрын

The $7500 is not a rebate. It’s a tax credit which reduces your tax liability when you file your taxes for 2023. Unless u owe taxes the tax credit is no good to you. It’s not a refundable tax credit.

@billjohnson3344

Жыл бұрын

@@HJ-USA Everyone who has a job "owes" taxes. How it is collected depends on how you have your paycheck setup in terms of withholdings. If you have the government taking out the right chunk per week, at the end of the year you owe zero and refund is zero. Here is a quote from Intuit... "It doesn't matter how much you owe on your tax return when you file it. The issue is whether you have enough taxable income after subtracting your deductions and exemptions from your adjusted gross income to result in a tax liability of $7500 or more to offset the non refundable credit. You don't need to owe any of it. For example, a single taxpayer with no dependents would need around $47,000 of income (after subtracting the standard deduction and personal exemption) to have a tax liability of around $7500 in order to offset the $7500 tax credit. If you withheld $7500 of federal income tax during the year, you would still qualify for the $7500 of credit and get it as a refund."

@nellztheking2832

Жыл бұрын

This is the right answer but honestly with Tesla price cuts it’s hard to buy an EV at that price not to mention the credit won’t happen at time of sale until 2024. Best bet is to keep what you have, wait for a used Cadillac lyriq in a few years, or just say screw it like most people and go Tesla.

@billjohnson3344

Жыл бұрын

@@nellztheking2832 Tesla Model 3/Y is not his style, and S/X substantially more pricey than Lyriq. Think he did the right thing sticking with the CT6.

Same thing happened to me. I had to go to the dealership and build my 2024 Lyriq. My 2024 is now costing me $75,395. I invested well, so I’m paying cash, otherwise it would be too much to finance. I ended up with the Sport 2 model with the sunroof. GM is giving me $5000 for the model change, and I do qualify for the $7500 tax credit. That takes some of the sting. Fortunately, I’ll be able to hold onto my 2019 CT6 as a long distance back up, since I paid it off. Your videos have been so helpful for information and enthusiasm. I certainly wish you were joining me. I completely understand why you aren’t.

@CadillacDriven

Жыл бұрын

Thank you for being so awesome I appreciate it I wish I could ride along with you but unfortunately I'm tired of working want to retire. Let me know when you get your Cadillac Lyric

@keitharnold3841

Жыл бұрын

@@CadillacDriven Will do.

Your right! I end up buying a used one with all the features I had on my order with a couple hundred miles on it!! And I love ❤️ it!!! It's a major up grade from any other cadillac!!

Wise move. Better to retire than to continue working just to pay for a new car/ GM's selling strategy is to advertised a low base price on many of their vehicles to create a lot of attention, then when potential buyer click on "build button" they get reality sticker shock. My guess is, as this process unfolds many are going to ask themselves, 'Do I really want the car that bad?"

I finally took delivery of my 2024 Cadillac Lyriq Sport 3 (Rebate/Discount) last Friday. I am completely satisfied with the car. I installed a Level 2 Box cord in my garage.

I have the impression that you are misinterpreting how the federal tax credit works - so I want to clarify one point for you. The federal EV tax credit is NOT based on the amount you “owe at the end of the year”. It has nothing to do with how much you owe, or whether you are getting a refund. It has EVERYTHING to do with your TOTAL TAX which is based solely on your income and not your withholding and whether you under-withheld or over-withheld taxes throughout the year. To determine if you can take full advantage of the $7500 tax credit, look at the line on your tax form labeled ‘THIS IS YOUR TOTAL TAX’. If it is $7500 or more and you meet the other criteria on income limits and vehicle MSRP, you get the full tax credit of $7500. If your TOTAL TAX is less than $7500 - say $6700 for example - your tax credit will be limited to your total tax liability of $6700.

@saccity1985

Жыл бұрын

Nailed it 👌

I don't know if you work for General Motors or not but if you don't I can tell you this much I I worked for General Motors for 44 years and anytime they come out with a new product they never give a discount of any kind. Look at the Corvette it's been out for almost three years now and they still don't offer a discount on corvette. After watching your videos I knew that you were excited to get a new Cadillac lyric I'm sorry to hear that you won't be able to get one. But maybe down the road you can buy you can buy a used one and as one person wrote to you it's better to retire than to then to purchase a new vehicle. I ordered a 2023 Cadillac lyric and did not did not receive it but I did order a 2024 Cadillac lyric Sport 3 they said I should get it sometime June July i'm not holding my breath. I ordered the sport 3 with the cool gray interior with all of the toys including the power sunroof I really hope the Cadillac lyric is everything that General Motors says it is. I personally think that your youtube videos are very informative and thank you for all of the info.

Cadillac is taking so long to get their act together. You're better off without it.

Its on Cadillac accessories it made specifically for the ct6 its the trunk light it adds a really nice touch

I really believe they will be bringing the CT6 Cadillac back to the US. To many people are asking about it & they are still buying used CT6.

Man that suck you deserve to get one of the greatest car ever built

I respect your decision and I’m sure it’s the right decision for you. But I think you may have been ok with the RWD. I wanted the awd as well but getting that in a 2023 was basically like winning the lottery. That said it’s not like a ice car where all the weight is in the front with the engine. The weight is more evenly distributed with the rwd Lyriq. I purchased the Lyriq so I will let you know how it goes. My wife and I have the option to work remote in bad weather so we’re not concerned. Anyway enjoy your ct6!

Theres a nice trunk light that gm makes it adds a nice touch

I agree I think money into the CT6 is better we’ll spent that getting the Lyriq I don’t trust electric cars honestly. At least not yet. I have a 2017 CT6 that’s how I started watching you and I love it hopefully one day I can do the work to it you’re doing. Can’t wait to see it dude

I know how you feel, the Cadillac is a nice Vehicle and I had to forgo some off the luxury like Blue Cruise. I order the LYRIQ back in 2023, but they didn't have the all wheel drive in 2023 with 500 Hp, so i waited and received my 2024 in July as retirement Vehicle for myself. I was able to put down $8000 on the Vehicle to bring it down to a comfortable payment that was under $1000 with a good interest rate. The Cadi isn't rated as fast as the Tesla but it has great pick Acceleration.

Good luck to you and God speed. You got this Sir

Go with vogues you have too!!!! I have them on my ct6 it really makes it pop!!!!

Ur a Sedan Man! You don't want no gurly looking suv. I just wished Cadillac would bring back the big sedans like the CT6 & STS.

@CadillacDriven

Жыл бұрын

😂😂😂😂😂😂😂😂😂

Gd decision!!

Have you changed your mind on the Lyriq purchase? Now they have the $7500 off up front, plus GM discount plus, $1000 off from Costco. That $7500 off is for purchase or lease. I waited 15 months to get mine but it looks like all the dealers have them on the lots now.

sold my DE after a month.. 2 weeks in the shop.. the reason ..rode like crap with the roads we have in michigan the 22s run flats didnt help plus the stupid sound that came from the front for blind people ..good call for canceling your order

@billjohnson3344

Жыл бұрын

For Michigan roads, you definitely should have got the 20" wheels. In any case, the tires are not run-flats - they are self-sealing, which ride identical to typical tiers (unlike run-flats). The pedestrian warning sound (at low speed) is a federal mandate. Gas cars make noise also, just not artificial because loud by nature with a combustion engine.

@xlrkid

Жыл бұрын

Have seen plenty of tesla’s and matter of fact one goes by my house every day and I don’t hear a thing.. and you’re right about the 20’s but GM said the suspension would be tuned for the 22’s

@billjohnson3344

Жыл бұрын

@@xlrkid The noise maker requirement is new (required as of 9/1/2020). Older Tesla's don't make any noise. I have a 2018 Model 3 and it is also silent. The new ones I hear around town are just silly - same as Lyriq. However, they don't make any artificial noise above 19 MPH - the requirement is just for low speeds, before tire noise starts to dominate.

@billjohnson3344

Жыл бұрын

@@xlrkid The suspension is unchanged 20" or 22" wheels. Same exact, just more rubber to insulate and absorb with the 20".

The CT6 was the last decent looking Caddy. At least it looked expensive. The new Cadillac sedans look like competition for the Camrys or Corollas. I mean that SERIOUSLY.

@CadillacDriven

Жыл бұрын

YESSSSSSS i thought i was the only one who thought that.

That s why I bought an Lexus rx 350h, didn’t feel like waiting and wasn’t eligible for the $7500

@MrRobwhitney

Жыл бұрын

Almost the same, got tired of waiting so got the Lexus RX 500H and loving it.

@cleanpaws4805

Жыл бұрын

@@MrRobwhitney good for you!!!

I have a 2018 Cadillac CT6 premium luxury With night vision and it is hard to find a aftermarket Chrome grill. for Cadillac ct6. I would like To put one in my CT6 also and I just can't find it. but once I find it I posted let you know..

@CadillacDriven

Жыл бұрын

I am trying to get a black mesh grille

Glad you’re trying to retire but the biggest problem is that Gm and most of the other manufacturers don’t know how to sell electric cars. BMW Mercedes Audi all are having trouble selling their e-cars the price alone 15-20 thousand higher than the gas equipment turning people off. Gm can’t even get the lyric into the hands of the customers . I know two people who have lyric deposit who changed their mind and bought Teslas because they didn’t want to wait any longer

@altondavis2

Жыл бұрын

No sweat, Tesla has the total package. Prices are getting better and they have a decent reliability record, Level-2 chargers are available and Tesla has an extensive charging network. They're 10 years ahead of GM and not standing still.

I KNEW I SAW IT COMING.👎🏾👎🏾

I understand the challenging economics of your situation with the requirements of the tax incentives, increasing interest rates, your pending retirement and &@$& Cadillac has done with the rollout of the Lyriq. In your situation I would have cancelled the Lyriq order too. Fortunately, I can wait to get my Lyriq and with the high trade in value of my low mileage current car and the $ I have saved (when my car loan was paid off, I continued “paying myself” socking that $ away in a credit Union account) so I have the resources to buy the Lyriq, which at my age will probably be my last car. I subscribed you your channel to get accurate and timely Lyriq news. With your channel’s changing focus to your CT6 - not something I am interested in - I will be unsubscribing. I’m sure you will continue to do good work with that. Take care and all the best.

@altondavis2

Жыл бұрын

The new Cadillacs don't look like $50,000 vehicles. Cadillacs used to look like re-skinned Buicks, now they look like re-skinned Chevrolets. Interiors look like regular mid-size sedans (Malibu/Camry,etc). Build quality is nothing special. Tweaked up 4-cyl engines; GM has never produced a reliable 4-cyl.