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
frontpageDC13 posted Jun 03, 2023 09:12 PM
Item 1 of 13
Item 1 of 13
frontpageDC13 posted Jun 03, 2023 09:12 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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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.
If you drill down into the data you find Teslas have the lowest chance of injury of any cars on the road though.
https://www.tesla.com/blog/model-...sted-nhtsa
If you drill down into the data you find Teslas have the lowest chance of injury of any cars on the road though.
https://www.tesla.com/blog/model-...sted-nhtsa
and
Ended up getting a new Tesla model 3 RWD yesterday when inventory models were discounted to $37,800 and tax credit was increased to full $7500. Didnt think I could get into a Tesla for around $30k
Can you please cite where I ever wrote such a thing?
(spoiler: I did not)
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Again "if I normally get a refund" is irrelevant to this.
Line 16 of your 1040 is relevant.
The problem with that is while all Teslas are EVs, only a tiny fraction of Chevys are-- so if you compare the much worse warranty claim rate of all Chevys you're not really getting much indication how reliable their EVs, specifically, are, in that mass of claims data.
This is as cheap as it will get for EVs. GM is cancelling this car at the end of the year, mainly because it's not profitable. The new entry level car will be their equinox EV and you can bet it will be significantly more expensive. Starting price most likely low 30s
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