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
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Item 1 of 13
expiredDC13 posted Jun 3, 2023 9:12 PM
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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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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.?
Examples:
If you typically are liable for $8k/year in taxes but have $11k withheld from your paycheck, you'll get a $3k tax refund. In this example, if you buy this car, the $7500 credit reduces your tax liability to $500 for that year, so you will get a $10.5k refund.
If you're only liable for $5k in taxes for the year and have $8k withheld from your paycheck, then the $7500 credit can only bring your liability to $0 for that year, which means you'll get the $8k that was withheld back and that's it. So you effectively only received $5k of the $7500 credit.
4K from nj and no sales tax.
But money for nj 4k rebate "ran out" until it most likely is renewed for next fiscal yr in July.
Yeah but passenger vehicles in general do very little damage to the road. The vast majority of road damage is done by large, heavy commercial vehicles. We should shift more of the cost onto them IMO.
You're a moron. If EV tech is dying, then how would nuclear powered cars work? Let's ignore the obvious problem of lugging around radioactive material in vehicles driven by crappy distracted drivers when we can't even get nuclear power plants approved and built because of the NIMBYs (even though modern reactor designs are extremely safe in comparison to historical designs).
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).
Just one example. My F&I guy makes a decent living. And he is by no means a rich person. A sole bread winner for his family. Has a mortgage, a couple of Honda vehicles in his household and three kids. Just came back from a short one week vacation from Buffalo, NY. Just think about his personal contribution to the American economy and its future. And yes, franchise dealership model enabled an opportunity like this for this family to have a good life.
You think concentrating power in one man's hand is a good thing for consumers? Be careful what you wish for, my friend. Your job security can be indirectly affected by this F&Y guys success in life. And vice versa.
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Some dealers will even match that price if they have in inventory. YMMV.
Any bolts "in stock" were already sold before they arrived at $4000 over msrp.
What is another 20k on a 2004 jeep while I wait.
I though this was a typo on the OP's part, but the website does indeed state a 40 amp breaker on a NEMA 14-50 outlet. Umm talk about a code violation.
(Keep in mind that this is a universal outlet install, NOT a direct wiring install. So the breaker NEEDS to be sized to the maximum load limit, not just the load limit of the primary device that's going to be installed on it.)
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