[BayouCityBob]

Here’s how you ACCEPT this INVITATION and secure the Fisker Ocean trim of your choice.

When you reserved your Fisker Ocean, you paid a $250 reservation fee for your first reservation and a $100 reservation fee if you reserved a second Fisker Ocean.

• Go to fiskerinc.com. Log into your account, proceed to reservations and select “Order” next to your Fisker Ocean reservation.
• Provide your delivery address (US only).
• Make your Fisker Ocean trim selection – choose from Fisker Ocean Extreme, Ultra, or Sport.
• Accept the Order Agreement Terms and Conditions.

Completing this process converts each of your Fisker Ocean reservation fees into a non-refundable deposit and secures your Fisker Ocean order. Closer to production, you will select color, wheels, interior, and other options and accessories. Please note these options and accessories may increase the base trim price shown.

The front wheel drive Fisker Ocean Sport starts at $37,499*, and the all-wheel drive Fisker Ocean Ultra starts at $49,999*.

The Fisker Ocean Extreme is our uncompromised luxury trim with SolarSky roof. Extreme builds on the Ultra trim level specifications, adding many additional standard features including Smart Traction, Revolve rotating 17.1” touchscreen with Hollywood Mode, Fisker HyperSound, and the complete suite of Fisker Intelligent Pilot features and OTA upgrades, all for a base price of $68,999**. Upgrading an Ultra trim with all additional features standard to the Extreme would add almost $34,000 to the Ultra purchase price.

It is anticipated that Fisker Ocean Extreme trim vehicles will begin US deliveries in late July 2023, while Ultra and Sport deliveries will begin in October 2023. Ultra and Sport trims will be produced in limited volumes in 2023 as Ocean One and Ocean Extreme production and deliveries are prioritized.

Fisker does not plan to raise prices for the Fisker Ocean in 2022 or 2023. However, given the current rate of inflation and global market pressures in logistics and commodity costs, Fisker cannot guarantee pricing will remain the same for vehicle orders received after 40,000 units have been ordered or for vehicles produced from 2024 onwards.

This ordering system remains in effect only until The Inflation Reduction Act is passed and signed into law or is otherwise finally decided upon. At that time, this order process will close. Fisker will reopen the order process for the Fisker Ocean Extreme trim on November 18, 2022, as previously announced.

Fisker thanks you for your continued support on this journey, and we reaffirm our commitment to deliver the world’s most emotional and sustainable vehicles.

Fisker Establishes Process for Qualifying US-Based Fisker Ocean Reservation Holders to Retain Eligibility for $7,500 Federal Tax Credit Should Inflation Reduction Act Become Law

Fisker enables qualifying US Fisker Ocean reservation holders, in advance of the bill’s passage, to enter a binding contract with the automaker to purchase a vehicle, retaining potential eligibility for the current federal tax credit of up to $7,500. The current draft of the Inflation Reduction...

investors.fiskerinc.com

 

[Rotaryracer]

One question and one clarification that I'm hoping will show up in the T&Cs...

1 - If I commit to an Ultra now but want to step up to an Extreme to expedite things, will Fisker allow that to happen? What if it's the inverse...reserve an Extreme, downgrade to an Ultra? Is this a one-shot deal?
2 - After re-reading the verbiage of the IRA bill, there doesn't seem to be a stipulation on when the car has to be delivered by. If I wait it out for the Ultra and it doesn't show up until 2024 (reservation around 31K), I'm assuming we're still okay?

 

[Baker]

One question and one clarification that I'm hoping will show up in the T&Cs...

1 - If I commit to an Ultra now but want to step up to an Extreme to expedite things, will Fisker allow that to happen? What if it's the inverse...reserve an Extreme, downgrade to an Ultra? Is this a one-shot deal?
2 - After re-reading the verbiage of the IRA bill, there doesn't seem to be a stipulation on when the car has to be delivered by. If I wait it out for the Ultra and it doesn't show up until 2024 (reservation around 31K), I'm assuming we're still okay?

My thinking is that if you want to be invited for the Extreme in November you should change your configuration accordingly. You will then have the choice to proceed or wait for the Ultra which will be in Q1.

 

[HotIce]

Great post! It looks like the $250 deposit becomes non-refundable and secures your $7,500. I wonder if this applies to One reservation holders.

 

[epski]

I bought an EV6 earlier this year on the presumption that I'd be buying the Ocean next year, giving me back-to-back years with the tax credit. If I order now, my understanding is that we won't get the credit for the Ocean because my wife and I bought the EV6 in both our names (shoulda bought one in mine and then we could have bought the other in hers), and if we buy next year, it's looking like the Fisker may not qualify. So, unless I'm missing something, I can't get a tax credit for the Ocean, which means I'll probably end up in a Blazer RS EV, or something. 😕

 

[Jay]

Great post! It looks like the $250 deposit becomes non-refundable and secures your $7,500. I wonder if this applies to One reservation holders.

@HotIce: From the initial press release, it looks like it was meant for One reservations. What's not clear to me is if I have to do anything if I already put money down on a One.

"Our reservation holders have given us a vote of confidence, with 5,000 recently committing $5,000* each to secure a Fisker Ocean One launch edition vehicle," he added. "So, we need to do this work on their behalf to show that we have their best interests at heart."

Fisker Establishes Process for Qualifying US-Based Fisker Ocean Reservation Holders to Retain Eligibility for $7,500 Federal Tax Credit Should Inflation Reduction Act Become Law

Fisker enables qualifying US Fisker Ocean reservation holders, in advance of the bill’s passage, to enter a binding contract with the automaker to purchase a vehicle, retaining potential eligibility for the current federal tax credit of up to $7,500. The current draft of the Inflation Reduction...

investors.fiskerinc.com

 

[sirozha]

I

I bought an EV6 earlier this year on the presumption that I'd be buying the Ocean next year, giving me back-to-back years with the tax credit. If I order now, my understanding is that we won't get the credit for the Ocean because my wife and I bought the EV6 in both our names (shoulda bought one in mine and then we could have bought the other in hers), and if we buy next year, it's looking like the Fisker may not qualify. So, unless I'm missing something, I can't get a tax credit for the Ocean, which means I'll probably end up in a Blazer RS EV, or something. 😕

Where did you see the rule that you can't buy more than one EV in your name in one year and qualify a second, third, etc. EV for the credit? You may be confusing this with another rule that if two of you bought a vehicle together, both of you can't claim it on two individual tax returns; however, if you are filing a join tax reform, this doesn't even affect you.

 

[TT97]

I bought an EV6 earlier this year on the presumption that I'd be buying the Ocean next year, giving me back-to-back years with the tax credit. If I order now, my understanding is that we won't get the credit for the Ocean because my wife and I bought the EV6 in both our names (shoulda bought one in mine and then we could have bought the other in hers), and if we buy next year, it's looking like the Fisker may not qualify. So, unless I'm missing something, I can't get a tax credit for the Ocean, which means I'll probably end up in a Blazer RS EV, or something. 😕

Form 8936 actually has space for 2 vehicles so there is definitely no 1 vehicle limit, however, you would need to have $15,000 tax liability to fully claim both vehicles as the credit does not carry over. Also, there may be limits on State credits/refunds, however, the sale would likely be consider 2023 for the State.

 

[Bill Tatun]

I

Where did you see the rule that you can't buy more than one EV in your name in one year and qualify a second, third, etc. EV for the credit? You may be confusing this with another rule that if two of you bought a vehicle together, both of you can't claim it on two individual tax returns; however, if you are filing a join tax reform, this doesn't even affect you.

You can definitely qualify for more than one tax credit in a year (I took 2 credits in 2021 and plan on taking two next year [or one this year and one the next depending]). But if it is a non-refundable credit (current credit) your tax liability has to at least be as much as the credit to take full advantage. If it is a refundable credit, you can use remaining credit (over liability) in future years. We’ll have to see how the new law affects that since it is supposed to be refundable.

 

[TT97]

You can definitely qualify for more than one tax credit in a year (I took 2 credits in 2021 and plan on taking two next year [or one this year and one the next depending]). But if it is a non-refundable credit (current credit) your tax liability has to at least be as much as the credit to take full advantage. If it is a refundable credit, you can use remaining credit (over liability) in future years. We’ll have to see how the new law affects that since it is supposed to be refundable.

The new rules would not apply as far as refundable credit (from pages 402-403, starting line 18):

(l) TRANSITION RULE.—Solely for purposes of the application of section 30D of the Internal Revenue Code of 1986, in the case of a taxpayer that—​

(1) after December 31, 2021, and before the date of enactment of this Act, purchased, or entered into a written binding contract to purchase, a new qualified plug-in electric drive motor vehicle (as defined in section 30D(d)(1) of the Internal Revenue Code of 1986, as in effect on the day before the date of enactment of this Act), and​

(2) placed such vehicle in service on or after the date of enactment of this Act, such taxpayer may elect (at such time, and in such form and manner, as the Secretary of the Treasury, or the Secretary’s delegate, may prescribe) to treat such vehicle as having been placed in service on the day before the date of enactment of this Act.​

The way I interpret it, regardless of when we get the vehicle delivered, it will be considered placed in service the day before the enactment of the Act (so sometime in August/September 2022). We will therefore need to include it in the 2022 tax filings (Form 8936) so will likely need to file an amendment to the filing once we get the car delivered. The good news is we would not need to wait until 2024 to file for the credit.

 

[Bill Tatun]

The new rules would not apply as far as refundable credit (from pages 402-403, starting line 18):

(l) TRANSITION RULE.—Solely for purposes of the application of section 30D of the Internal Revenue Code of 1986, in the case of a taxpayer that—​

(1) after December 31, 2021, and before the date of enactment of this Act, purchased, or entered into a written binding contract to purchase, a new qualified plug-in electric drive motor vehicle (as defined in section 30D(d)(1) of the Internal Revenue Code of 1986, as in effect on the day before the date of enactment of this Act), and​

(2) placed such vehicle in service on or after the date of enactment of this Act, such taxpayer may elect (at such time, and in such form and manner, as the Secretary of the Treasury, or the Secretary’s delegate, may prescribe) to treat such vehicle as having been placed in service on the day before the date of enactment of this Act.​

The way I interpret it, regardless of when we get the vehicle delivered, it will be considered placed in service the day before the enactment of the Act (so sometime in August/September 2022). We will therefore need to include it in the 2022 tax filings (Form 8936) so will likely need to file an amendment to the filing once we get the car delivered. The good news is we would not need to wait until 2024 to file for the credit.

Right…..I knew that but was jsut explaining the differences in types of credits as the bill may pass, but there’s still a chance for changing different aspects (lone way or the other). I need all 2022 provisions to be the same for it to be the best for me. Otherwise, bye bye credits.

 

[ToddH65]

I have a few observations/questions. The announcement on the Fisker Investors page says Fisker believes customers may be able to retain eligibility. If that ends up not being the case, would we be eligible to get a refund. Granted the initial deposit isn't a big deal. Second is an observation from the email. I noticed they indicated upgrading an Ultra trim with all the additional features standard to Extreme would cost about $34,000.

@TT97 I hadn't thought about including on 2022 return. But I was thinking that we would need a VIN to complete all the forms. Would this be the amendment that you mention?

 

[HotIce]

I think they worded it like that because they don't know each individual person's eligibility? I could be wrong.

 

[TT97]

@TT97 I hadn't thought about including on 2022 return. But I was thinking that we would need a VIN to complete all the forms. Would this be the amendment that you mention?

Yes, it would be Form 1040-X showing the changes (and then redo the taxes). I filed 1040-X last year as I had a credit for a charging unit (Form 8911) but the form was not approved until March and couldn't wait to file until the form was approved.

 

[MTN Ranger]

@TT97 I hadn't thought about including on 2022 return. But I was thinking that we would need a VIN to complete all the forms. Would this be the amendment that you mention?

If your One gets delivered before 4/15/23, you don’t need to file an amendment. I usually file early, but I would wait until the last minute if this was the case. In addition, I bet we will know the VIN before the vehicle is shipped.

 

[BayouCityBob]

You may also file an extension (which is what we will likely do) and have until October to finalize. Lots of options.

 

[ToddH65]

I should have probably mentioned that I am referring to the email today that is opening Firm orders for US reservation holders for Extreme, Ultra, and Sport. I did not pre-order the One.

 

[S7davis]

I bought an EV6 earlier this year on the presumption that I'd be buying the Ocean next year, giving me back-to-back years with the tax credit. If I order now, my understanding is that we won't get the credit for the Ocean because my wife and I bought the EV6 in both our names (shoulda bought one in mine and then we could have bought the other in hers), and if we buy next year, it's looking like the Fisker may not qualify. So, unless I'm missing something, I can't get a tax credit for the Ocean, which means I'll probably end up in a Blazer RS EV, or something. 😕

If I remember correctly I do not think it matters under the tax credit how many vehicles you get as you will still get the credit. I think that is one of the reasons they are changing it as people who can afford to do so are probably buying new EVs every so often to get the credit. I do not believe right now their is a limit on how many times it can be claimed in a tax year.

I could be mistaken so talk to your tax person or accountant if you have one.

 

[BayouCityBob]

Completed the order.
A couple of things to Note:

1) The ONE pre-order does not have an order button (see photo) so I guess they have determined that the pre-order already counts

2) The link to the order agreement is here Fisker Ocean Order Agreement Terms and Conditions

 

[HotIce]

You beat me to it, Bayou. I wasn't able to find the order button. I believe Ocean One reservation holders have already accepted those terms?