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If buying a used EV, be sure to use KeySavvy to claim the EV credit on private sales
Yesterday at
04:25 AM
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This past week, I bought a used Tesla Model S from a private seller. He had the car listed as able to claim the $4k EV credit using a company called KeySavvy. After looking into it, it was true. Was a pretty seamless transaction. Using this to purchase a used EV, allowed me to claim the full EV credit at time of payment. Essentially KeySavvy acts as a dealer so they claim the credit and pass it on to the buyer immediately. Cost was very reasonable, it was $99 for the seller and $99 for the buyer. Here is how it works:
1. Seller lists car on the KeySavvy app / site for a specific price. For example, the seller is asking $20k.
2. When a buyer wants to purchase, they create an account on KeySavvy and find the car by the VIN.
3. Buyer submits an offer to the seller
4. Seller sees offer and accepts it
5. KeySavvy now prompts buyer to pay. A huge perk is that you no longer need to carry and pay $20k in cash to the seller. You actually pay KeySavvy through the app via a bank transfer, credit card and I believe there is another option as well, can't recall what it is.
6. When checking out on KeySavvy, being an EV, it asks if I qualified for the EV credit. When I selected yes, it asked me for some info to verify.
7. My total to pay KeySavvy $16,099 which was the car cost minus the $4000 tax credit plus the $99 KeySavvy fee.
8. I payed via a bank transfer, within 5 minutes the transfer was verified and the buyer was notified.
9. Car was now mine! KeySavvy then has the seller mail the title to them, when they receive they mail it to me. So essentially they act as a middleman but because of this you can get the EV credit.
10. KeySavvy issues a 30 temp tag so you can drive it until you receive your title. Once I get it, I will go to DMV to get my tags and pay my state taxes.
They issue a proper bill of sale and handle everything! The whole process to me 15 minutes and did it while standing with the buyer. Crazy I had never heard of this before. If selling or buying a used car, would highly recommend.
I should add that I am in no way affiliated with this company, just wanted to pass my experience with them and highly recommend. Hope this helps.
1. Seller lists car on the KeySavvy app / site for a specific price. For example, the seller is asking $20k.
2. When a buyer wants to purchase, they create an account on KeySavvy and find the car by the VIN.
3. Buyer submits an offer to the seller
4. Seller sees offer and accepts it
5. KeySavvy now prompts buyer to pay. A huge perk is that you no longer need to carry and pay $20k in cash to the seller. You actually pay KeySavvy through the app via a bank transfer, credit card and I believe there is another option as well, can't recall what it is.
6. When checking out on KeySavvy, being an EV, it asks if I qualified for the EV credit. When I selected yes, it asked me for some info to verify.
7. My total to pay KeySavvy $16,099 which was the car cost minus the $4000 tax credit plus the $99 KeySavvy fee.
8. I payed via a bank transfer, within 5 minutes the transfer was verified and the buyer was notified.
9. Car was now mine! KeySavvy then has the seller mail the title to them, when they receive they mail it to me. So essentially they act as a middleman but because of this you can get the EV credit.
10. KeySavvy issues a 30 temp tag so you can drive it until you receive your title. Once I get it, I will go to DMV to get my tags and pay my state taxes.
They issue a proper bill of sale and handle everything! The whole process to me 15 minutes and did it while standing with the buyer. Crazy I had never heard of this before. If selling or buying a used car, would highly recommend.
I should add that I am in no way affiliated with this company, just wanted to pass my experience with them and highly recommend. Hope this helps.
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