Hello All,
I have been approved for the CVAP grant of $5000 and was looking at a Fuel Cell vehicle. 2020 Nexo or Toyota Mirai… I just got a e-mail quote from a dealer, it does not have the Sale Price but according to numbers plugged in calc. it’s only 2% discounted. I included the total post sales rebates to offset the $2988 down ($10,000 ttl, $7000 CVRP, $2000 CVAP leftover from $5K and the Electric/Edison rebate $1000 for my region)
Am I missing something in the calculator and if they can improve the discount maybe I will sign by end of this week…am in no rush though, as my Equinox is good till October and $5000 CVAP grant is good till November… I only have a 4.5 mile one way commute to work and live in an apartment, so FCEV works better than BEV for now
“From their e-mail sent to me:
MSRP: $59,855
Residual: 58%
mf: .00034
rebate: 9,000
acquisition fee: $650
Cap reduction tax: $935
License: $794
down payment: $2988
Payment $368 + tax for 36 months 12k/year.”
The FCV is actually an EV-but instead of plugging it in, it uses Hydrogen to make electricity
From the Implementation Manual found at the bottom of the website:
“The CVA Program provides qualified individuals with a grant for the purchase or lease of a qualified clean vehicle. Participants with a verified gross income of 225% and below of the Federal Poverty Level (FPL) (please see table 1.2, page 11) qualify for a grant of $2,500 for a hybrid electric vehicle (HEV), $5,000 for a Plug-in Hybrid Electric Vehicle (PHEV), and $5,000 for a Zero Emission Vehicle (ZEV), which includes Battery Electric Vehicles (BEV) and Fuel Cell Electric Vehicles (FCEV). Participants that fall between 226% and 400% of the federal poverty level (please see table 1.2, page 11) qualify for a grant of $1,500 for a hybrid electric vehicle (HEV), $4,500 for a PHEV, $5,000 for a ZEV (includes BEVs and FCEVs).”
Haha I love how some DEALERS give you flat out made up numbers… I asked what the price on the Nexo Limited was gonna be and he says “about $100 more”…then an hour later his dealership sends me a targeted e-mail with ads- “NEXO LIMITED $419/mo (Blue was $368/mo)” now how is $100 more equal to $51 more per month… Lazy people out there I guess
Yes it is listed and eligible for the $1,000 rebate…as it is a FCBEV so classified as Electric and Clean Air Vehicle as it produces electricity via the Hydrogen Cells
Insurance can’t be more than my 2017 Hellcat MSRP $69,000 that I just sold…I was paying $665 for full coverage with Ameriprise through Costco (now Connect) for a 6 month policy 100/300/100 and $250/$500 deductibles, so shouldn’t be much more than that plus if I do the 2020 Mirai my effective monthly could be as low as $66/mo after all incentives applied
My Assumption is correct-my 6mo policy for both cars including GAP (GAP is only $7 for 6 mo) for the Mirai is $667.74 with the low $250/$500 deductibles on both, 100/300/100 Driving 6000 miles a year on each car, car rental included for both…
So, there we have it… and thanx to California’s Clean Vehicle Programs-the Mirai for $66/mo
My 2019 Equinox by itself cost me $415 per 6mo policy, so only $252 more for Mirai
*EDIT- My $665 policy was for 6 months for both the Hellcat and Equinox
Found the answer…so Fuel Cell Vehicles are NOT eligible for the $1,000 rebate
You may apply for the rebate if:
You are a customer of Southern California Edison (SCE) with an active residential electricity account in SCE’s service territory. Note: Vehicles must be registered to individuals. Vehicles registered to businesses are not eligible
You own or lease an eligible plug-in vehicle listed on the HOV Eligibility List. Fuel cell vehicles, electric bikes, electric motorcycles, electric scooters and neighborhood vehicles are not eligible for the rebate, despite their inclusion on the HOV Eligibility List.
That’s why we 'hack" deeper and deeper till we find the answer
There is a reason. Waiting in 25 minute lines for fuel or getting to a station just to find out it’s down. Yes it will be better during the pandemic when less people are driving but I would think twice about it if your time is worth anything.
Market Value: $63,305.00 Dealer Discount and Rebate: $12,734.00 (Discount is $2,234 and Rebate $10,500)
Vehicle Price (Net after Rebate): $50,571.00
Cash Down:$0 (True $0 DAS)
35 Months:$560.79 (this is with 7.75% tax, my tax is 7.25%)
Residual: $37,349.95
Grant $5,000+$7,000 CVRP Rebate=$12,000 ttl extra incentives
After all incentives, effective monthly would be $227.45 things are getting much better
as it produces electricity via the Hydrogen Cells
plus if I do the 2020 Mirai my effective monthly could be as low as $66/mo after all incentives applied
