Beginning in 2024, everyone under the income limit qualifies for the full $7,500 rebate. It does not matter if you owe less than that in taxes, and you can get it at the time of purchase instead of waiting for next year's taxes.
https://www.npr.org/2023/12/28/12...ford-vw-gm
frontpage Posted by DC13 • Jun 3, 2023
Jun 3, 2023 9:12 PM
Item 1 of 13
Item 1 of 13
frontpage Posted by DC13 • Jun 3, 2023
Jun 3, 2023 9:12 PM
2023 Chevrolet Bolt EV 1LT + $7500 Tax Credit + In-Home Charger Install
(For Qualifying Buyers)from $26500
$26,500
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edit: For clarification from the wiki: "The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due."
So lower income people will not get a $7500 refund, it depends on your liability. i.e. A SDer responded about a student being angry in a previous thread that they only got $500 back and not $7500.
Virtually all of the ICE vehicle can be recycled. Generally the only items not recyclable per se will be interior trim - it's mixed plastic and rubber. Engine? steel or aluminum. Gearcases? Steel or aluminum. Body, frame, etc, steel or aluminum. In fact, about 86% of a car can be recycled [recyclenation.com].
Meanwhile your EV will still have a fully and readily recyclable frame and body, just like the ICE. The motor will generally be recyclable. The battery? Not really. Generally batteries and battery packs are not really designed for recycling. Most are just thousands of individual cylindrical cells, that themselves are spiral wound multilayer structures. There's no easy way to separate the materials here. An ICE, you literally rip out the engine with heavy equipment and include it in with any other steel or aluminum - the process is astonishingly easy and quick [youtube.com] with heavy equipment.
Meanwhile, the batteries are generally just shredded [ucsusa.org]. The resulting material is called "black mass" and is placed into a bath of caustic chemicals to leech out the *important* elements. In certain cases, that black mass is first incinerated to burn off plastic and epoxies. Yeah that sounds super efficient and environmental to me.
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My brother has a Tesla Model 3 and Model Y. He swore off Tesla after his model 3 due to the ride quality, but after he drove the Model Y, he felt they made significant improvements, and bought one. I've driven both his cars, and there are a few reasons I have not gone with Tesla. The first is the sparse interior and inability to use Android Auto (which now is actually wireless in my EUV). I was also surprised to learn there is no option for ventilated seats. Tesla also does not give you the option to reduce the amount of regeneration, basically forcing you to have 1 pedal driving. They do this to increase their EPA numbers, which is smart on their end, and fine for those who like 1 pedal driving. I personally do not. The other smart thing that Tesla does is allow you to utilize 100% of the battery, but warns you to charge only up to 80% to prolong its life. Other manufacturers like GM don't trust you to do that, so when you charge to 100% on a GM, it's not truly 100%. There is a reserve in there that you cannot access. So for an equivalent battery size and drag, the Tesla will have a higher EPA rating. I wish GM would allow us to access the battery fully.
Finally, insurance costs for Teslas is quite expensive. I insure both my Bolt EUVs for $1k per year through Costco. My brother pays $8k for his 2 Teslas. I think this is just due to the fact that all repairs have to go through Tesla, so they can charge whatever they want, which forces insurance companies to often just total the entire car for minor accidents. It also appears to be the case for the newer EV companies like Rivian and Lucid.
I have Supercruise on one of my EUVs, and love that I don't have to keep my hand on the wheel. I don't think it works in as many areas as a Tesla, but when it does, it's great. However, GM is moving towards the subscription model, so they will now charge to be able to use supercruise after the first 3 years. The basic Tesla Autopilot does not require additional costs. I wish GM had a Sentry mode, like Tesla, and the ability to download footage, but it does not, so I'm forced to use a dashcam.
Anyway, if you can find a Bolt at a decent price, I'm sure you'll be happy with it, especially if you're new to EVs. In my opinion, there is no better value at this time, so get them before GM stops making them later this year.
On a somewhat related note to this thread, does anyone know if any of the dealerships for any of the EVs are allowing one to lease with an immediate payoff, in order to qualify for the $7500 for those who do not meet income restrictions?
I will get bullied for buying this and I am 40 yr old man.
In this Case,
"The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due."
So If i buy EV this year, i still not get any EV credit since I have tax refund.?
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In this Case,
"The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due."
So If i buy EV this year, i still not get any EV credit since I have tax refund.?
GM and Ford are thankfully nearing the verge of bancrupcy, and that is great due to the many, many horrible managerial decisions they've made since the late 70' they've come home to roost. Tesla has done to the big 3 what Amazon did to Target, Walmart, Bed Bath and Beyond, Frys Electronics, Macy's, etc... they figured out the flaws in product and service and found what the customers prefer then improved upon it as opposed to simply running the same way hoping for better results. The Big-3 aren't doing anything differnt today then they did 100 years ago aside fro relying more heavily on advertising but their assemebly, products, and managerial business never adapted to the times. GM still is up $11.2B from the bailout scam
Tesla is many years ahead of any other EV mfg in terms of technology, in terms of charging, in terms of how they treat custmers when purchasing a vehicle. in terms of their pricing models with regards to service and parts (which is one of two profit centers at the big 3 the other being F&I which is where they reeally rape their victims).
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Tesla is many years ahead of any other EV mfg in terms of technology, in terms of charging, in terms of how they treat custmers when purchasing a vehicle. in terms of their pricing models with regards to service and parts (which is one of two profit centers at the big 3 the other being F&I which is where they reeally rape their victims).
Tesla isn't really the panacea that people seem to think. They're not really ahead in terms of technology. Yes, they have a better fast charging network, but you're going to see the state of charging change in the coming years, especially with the federal money being pumped into it. Their full self driving is extremely expensive and not really any better than the competitor products. The Cybertruck is vaporware. In typical Elon Musk fashion, they talk a big game and don't deliver on a lot of that.
They might be more consumer friendly in terms of pricing and not following the dealer gouging model, but they're extremely ANTI consumer in terms of right-to-repair. One step forward, two steps back. If you want to talk about "raping their victims" then you have to talk about right to repair. At least I have options on where I get my Ford/GM/whoever EV repaired. Your preferred body shop probably can't even buy replacement body panels for a Tesla, let alone any actual battery/drivetrain components.
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