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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WOW are they hideous....Especially for the $30K
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For example, for me, when I did the math a few years ago with a $35k bolt vs $18k Versa, I'd have to drive the Versa 126k to 250k miles (depending on millage, worse to best average) BEFORE I'd even exceed $35k (Versa + gas).
Exceed 10 years or so, and every ev is faced with the HORRIBLE $5-20k battery replacement cost.
So for long term owners like me (17 years on my current car), EV cars make utterly no sense at all roi wise (even after calculating for other repairs). I'd literally be tossing cash out the open window year in, year out.
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That said, if America simply imported the slew of dirt-cheap EVs from China (https://www.wired.com/story/revie...g-mini-ev/), or even low priced from Japan (https://insideevs.com/news/587101...ars-japan/), I'd go for those.
A few minutes on the phone with your current can get you a quote fast.
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That said, many ev cars after even "minor to moderate" crashes can result in a total loss write off due to the expense of parts and repairs on ev vehicles. (Ie. How many sensors and cameras are destroyed in a side swipe alone?)
A total loss will get factored into your future rates.
This is obviously not the case in situations where the other party is at fault and you're filing against THEIR insurance.
https://www.fool.com/the-ascent/i...-accident/
Typically, no, insurance rates won't increase following a no-fault accident. The insurance company of the at-fault driver is responsible for all expenses, from vehicle repairs to medical costs. As long as an insurer does not have to pay out any money, it won't increase the policy rate.
But sure, if you wreck your own car that increases your insurance rates- as it should.
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Myself included.
$100,000 Mercedes cheaper than $50,000 Tesla
MY real world.
Wife got the Yellow GR 3.0 Premium Supra MSRP and is happy as heck.
Gets compliments everywhere, and has been offered more than paid OTD
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