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LRADIKAL posted:Little unclear as to what you are trying to say, but when I leased my previous leaf, they hooked me up with the federal and state rebates and I drove off with 220$ a month payments. Did you file for the tax credit yourself when you did your taxes? If not then the bank is the one who got the tax credit. They likely extend a rebate that matched the federal tax credit which is what you got. State EV rebates are most often point of sale and get applied directly to the deal like any rebate. The dealership is usually the entity that fronts the money for the rebate and is reimbursed by the state when they file the paperwork for it. A lease on an EV is a great way to ensure you get the whole federal tax credit through lease rebates. I have definitely seen customers who didn’t actually pay enough in taxes after all their other deductions to get a full federal EV tax credit after purchasing their cars which is a huge bummer for them. dream9!bed!! posted:Never heard of a battery lease in the US. Consider looking at a new Leaf if you live in a state with tax rebates, too, since the reason they're so cheap is because of folks like me who can buy a new 40kWh 2019 for the same price. The smart fourtwo EV does the whole battery lease deal. kill me now fucked around with this message at 02:19 on Jul 20, 2019 |
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Jul 20, 2019 02:16
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kill me now posted:I have definitely seen customers who didn’t actually pay enough in taxes after all their other deductions to get a full federal EV tax credit after purchasing their cars which is a huge bummer for them. You need to make a surprisingly large amount of money to owe the Fed $7500 at the end of the year.
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Jul 20, 2019 02:36
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MrYenko posted:You need to make a surprisingly large amount of money to owe the Fed $7500 at the end of the year. $65k. Edit: That's with the standard deduction, which I think is what most people end up claiming now. Just under 53k of taxable income.
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Jul 20, 2019 03:18
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Ola posted:I don't know anything about leasing other than the leaser makes money on it, so it has to be more expensive than simply buying it. you're gonna have to walk me through this. do you think the seller does not make any money on selling the car?
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Jul 20, 2019 03:28
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KYOON GRIFFEY JR posted:you're gonna have to walk me through this. do you think the seller does not make any money on selling the car? Well there is an added layer of money making any time you involve a bank loan. But that goes for both a lease and a finance. Leases are more about moving units and creating a 3 year turn for the automaker. The vast majority of lease programs are done by the automakers in house bank so outright profits are less of a concern than being competitive with other leases. They do make money but the effective interest rates are typically low and fixed bank fees are reasonable.
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Jul 20, 2019 03:40
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To make sure I understand the tax credit, as long as over the course of a year my wife and I have more than $7,500 withheld, when we do our taxes, that $7,500 will come back to us in a tax return because, assuming our total withholdings from paychecks is exactly what we owe, the credit means we would have overpaid our taxes by 7,500?
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Jul 20, 2019 03:43
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You could do that. Just make sure you have $7,500 in liability at the end of the year.
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Jul 20, 2019 03:53
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Sorry, gotta wax more about the Leaf for a second. It's the only new vehicle I've ever owned that I've never needed to bring in to the shop within the first year. It has literally had nothing but tires replaced in nearly 50k miles. No maintenance, no service issues, no problems. It's more reliable than anything else I own.
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Jul 20, 2019 04:02
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A Strange Aeon posted:To make sure I understand the tax credit, as long as over the course of a year my wife and I have more than $7,500 withheld, when we do our taxes, that $7,500 will come back to us in a tax return because, assuming our total withholdings from paychecks is exactly what we owe, the credit means we would have overpaid our taxes by 7,500?
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Jul 20, 2019 04:12
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kill me now posted:Did you file for the tax credit yourself when you did your taxes? If not then the bank is the one who got the tax credit. They likely extend a rebate that matched the federal tax credit which is what you got. State EV rebates are most often point of sale and get applied directly to the deal like any rebate. The dealership is usually the entity that fronts the money for the rebate and is reimbursed by the state when they file the paperwork for it. Yes, as I understand it, the lease was a joint ownership of the vehicle between myself and NMAC, in which they claimed the tax rebate but credited me the amount off the total of my loan. Now I make enough money to get the 7500$ rebate on my own! Progress! Double dipping!
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Jul 20, 2019 04:33
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gently caress Chevy for (successfully) trying to get EOY movement on the Bolt/Volt in December. They barely made the cutoff, and I'm only getting 3750. 
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Jul 20, 2019 05:16
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japtor posted:Remember the chat a little while back about multiple gears in an EV? ZF just announced a two speed: LOL I am not surprised it bears passing similarities to a two speed Powerglide. Probably the only car gearbox in existance that is known to easily handle EV style torque hits and also big top speed
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Jul 20, 2019 11:24
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KYOON GRIFFEY JR posted:you're gonna have to walk me through this. do you think the seller does not make any money on selling the car? By leasing, you're committed to something in the future. Be selling, you're not. It's reasonable to assume that commitment comes with some sort of profit in return for the risk. Perhaps it often comes with a surprising hit at the end, despite low monthly payments.
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Jul 20, 2019 11:43
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ilkhan posted:You need to owe $7500. It's a non-refundable credit. So it's like you paid in $7500 extra, but you can't get any of that amount back. Wait, so to take full advantage, I'd need to adjust my withholdings so at tax time, I do owe the $7,500 that would have been withheld automatically from my paychecks in order to use the credit effectively? Why wouldn't it just be refunded? Sorry if I'm being dense; it's just a lot of money and I've been factoring it in as a discount on a new EV so I have to understand how or if we'd actually see it as such.
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Jul 20, 2019 12:37
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A Strange Aeon posted:Wait, so to take full advantage, I'd need to adjust my withholdings so at tax time, I do owe the $7,500 that would have been withheld automatically from my paychecks in order to use the credit effectively? Why wouldn't it just be refunded? No withholding is irrelevant, you need to have owed 7500 in federal tax regardless of how much you paid during the year through withholdings or estimated payments. Also if you owe 7500 at the end of the year you would probably get a penalty unless you fall under an exemption. This is also irrelevant to the EV credit.
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Jul 20, 2019 12:45
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Elephanthead posted:No withholding is irrelevant, you need to have owed 7500 in federal tax regardless of how much you paid during the year through withholdings or estimated payments. So we absolutely owed more then 7500 to the federal government, we just don't end up paying anywhere near that much when we do our taxes because we have it withheld from our paychecks. So if we make no changes to our withholdings and buy a new EV, when we do our taxes and normally end up with a very small refund, instead, our refund would be +7500 for the tax credit?
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Jul 20, 2019 13:14
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A Strange Aeon posted:So we absolutely owed more then 7500 to the federal government, we just don't end up paying anywhere near that much when we do our taxes because we have it withheld from our paychecks. I don't know anything about US tax systems, but isn't this the same thing? Your employer is doing the job of paying taxes for you. And presumably it doesn't matter if you ask your employer to pay less during the year or if you get a refund after, as long as it all adds up in the end.
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Jul 20, 2019 13:18
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Ola posted:I don't know anything about US tax systems, but isn't this the same thing? Your employer is doing the job of paying taxes for you. And presumably it doesn't matter if you ask your employer to pay less during the year or if you get a refund after, as long as it all adds up in the end. We pay the same either way, yes, but the one guy was saying the credit is non refundable which sounded like if we'd already paid 7500 from withholding that we'd be out of luck and the credit wouldn't benefit us at all.
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Jul 20, 2019 13:25
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If you claim multiple people as dependents like children and a spouse, your tax liability will go down, making it less likely to get the full $7,500.
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Jul 20, 2019 13:35
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A Strange Aeon posted:We pay the same either way, yes, but the one guy was saying the credit is non refundable which sounded like if we'd already paid 7500 from withholding that we'd be out of luck and the credit wouldn't benefit us at all. Yes, that guy was wrong.
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Jul 20, 2019 13:42
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In the tax world, refundable credit means you can get paid that credit even if you owed and paid $0 in federal taxes. The EITC works that way, for example. It's all about where your total tax bill stands at the end of the year. If you owed and paid $10k, you'd get the full $7500 back when you did your returns. If you only owed and paid $5k, you'd only be able to get back $5k on a non refundable credit.
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Jul 20, 2019 13:47
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brugroffil posted:In the tax world, refundable credit means you can get paid that credit even if you owed and paid $0 in federal taxes. The EITC works that way, for example. Ok, cool, so it seems to work like we thought it would and we'd get the $7500 back on our refund! Thanks for confirming!
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Jul 20, 2019 14:08
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A Strange Aeon posted:Wait, so to take full advantage, I'd need to adjust my withholdings so at tax time, I do owe the $7,500 that would have been withheld automatically from my paychecks in order to use the credit effectively? Why wouldn't it just be refunded? ilkhan fucked around with this message at 15:29 on Jul 20, 2019 |
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Jul 20, 2019 15:23
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Non-refundable just means “if your total tax liability is negative, you don’t get money from the government”. You have withholding because your liability is positive and you’re paying it in installments.
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Jul 20, 2019 15:47
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ilkhan posted:You need to owe $7500 in taxes, withholding is irrelevant to that part. Not owe as in "cut them a check" but owe as in "you owe $7500, you've withheld $7000, please cut a check for $500". Whatever you've had withheld you can get back after the credit gets applied. You just can't get back any of the credit beyond what your tax liability is. This is the best explanation yet.
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Jul 20, 2019 17:38
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dream9!bed!! posted:Sorry, gotta wax more about the Leaf for a second. It's the only new vehicle I've ever owned that I've never needed to bring in to the shop within the first year. It has literally had nothing but tires replaced in nearly 50k miles. No maintenance, no service issues, no problems. It's more reliable than anything else I own. Also the rest of general car tech improvements over the last 12 years.
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Jul 20, 2019 18:15
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I can’t believe I got a performance model 3 for 50k this is nuts
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Jul 20, 2019 19:01
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japtor posted:After all the poo poo I’ve gone through with my current car in the last 2-3 years I’m really looking forward to this part of the EV life.
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Jul 20, 2019 20:46
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Apparently rumors are floating that the next gen Cadillac will be offered as a BEV (which lines up with what GM has said to expect). Their targeted range is 400 miles. http://cadillacsociety.com/2019/07/19/upcoming-electric-escalade-will-offer-400-miles-of-range/ I wonder if that smooth spacecar Cadillac SUV concept is the new Escalade?  Personally I hate big fuckoff SUVs because they take up too much space, but if it tricks rich "we need more room to take the kid to school" fuckers into driving electric, so be it. So far GM has been pretty good about delivering their range and then some (IIRC Bolt EV was originally targeted at 200 miles), so I wouldn't be surprised if this actually hits the big fuckoff range mark. It'll be really expensive though, they're gonna need a LOT of batteries to make that work.
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Jul 21, 2019 18:30
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The infamous 477k mile Gen1 Volt "Sparkie" died some time ago.. The dealer the owner took it to diagnosed it as the battery being bad. It was decided too expensive to repair. Someone else ended up buying the car and found out that the original dealer diagnosis was completely wrong. The battery was fine. The problem was in fact one of the motor/generators had a burnt winding. Interestingly, they found the battery to have lost 20% of its actual capacity. Which is not bad given 477k miles! Interesting look at a very high mileage Volt.. https://www.facebook.com/groups/chevyvoltowners/permalink/2607336802612262?sfns=mo Spoiler: They fixed it.
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Jul 23, 2019 00:59
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Gen 1 volts were so overbuilt.
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Jul 23, 2019 13:00
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⚡💪 https://www.youtube.com/watch?v=bXFHgoon7lg Press release: https://medium.com/live-electric/tough-goes-electric-c03fc780dee7 Looks promising so far! Great reveal by Ford.
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Jul 23, 2019 17:27
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Agreed. A great reveal with only one small flaw: https://www.youtube.com/watch?v=bXFHgoon7lg&t=49s 
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Jul 23, 2019 17:53
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Westy543 posted:⚡💪 “I’m pissed, who wants an electric truck? Men want a truck. Gay boys? Always the coastal elites shoving their ‘green’ agenda on us again! You know, what if I need to drive 500 miles to pull a stump? loving poo poo rear end truck. U can’t tell me this is good. Chevy won’t do this. Kill it! Make america great again! You are a triggered leftist if you want this! America first! Stupid! Stupid!”
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Jul 23, 2019 17:53
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big crush on Chad OMG posted:“I’m pissed, who wants an electric truck? Men want a truck. Gay boys? Always the coastal elites shoving their ‘green’ agenda on us again! You know, what if I need to drive 500 miles to pull a stump? loving poo poo rear end truck. U can’t tell me this is good. Chevy won’t do this. Kill it! Make america great again! You are a triggered leftist if you want this! America first! Stupid! Stupid!” Poe's Law strikes again.
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Jul 23, 2019 18:07
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TooMuchAbstraction posted:Poe's Law strikes again. Be sure to read the first letter of every sentence
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Jul 23, 2019 18:23
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Westy543 posted:⚡💪  quote:And, as a reminder, we are also working feverishly on our plans to reveal our fully electric, Mustang-inspired SUV.
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Jul 23, 2019 19:38
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That's a pretty lame demonstration because one strong dude can pull a train too. They're deliberately made that way for some reason It'd be more interesting to see how they actually engineered the electric power train into it. japtor posted:Wait what
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Jul 23, 2019 19:57
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Nice. Hope Ford doesn't go cheap on the specs of the release model. Here's Bjørn's test of the Raven Model S, performance edition on 21s. In sunny conditions at 90 kph / 56 mph it gets 160 Wh/km, 256 Wh/mi. Which is crazy efficient for such a big, high performance car. The non-P on 19s could probably knock 3-5% off that. https://www.youtube.com/watch?v=yY-sQWvBgE4
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Jul 23, 2019 20:01
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It'll be interesting to see what's a faster road trip car when the V3 superchargers come out: Model 3 LR (250Kw max w/ 75Kwh battery) vs Model S LR (200Kw max w/ 100Kwh battery). I'm betting on the S since it'll charge at a high rate for longer.
Nfcknblvbl fucked around with this message at 20:51 on Jul 23, 2019 |
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Jul 23, 2019 20:47
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