If you buy it, no. If you lease it, only if Kia passes it through as an incentive. Edmunds or Autobytel should have that information.
I’m not aware of Kia passing any incentives.
But Ally is on a Niro PHEV.
The 2023 Kia Sorrento PHEV has a high RV and might be a pretty nice deal with the $7500 Ally pass through, if they use the same RV / MF as Hyundai Leasing trust.
They use their own, not some other companies.
Kinda hard then to use Ratehackr I guess …
Maybe @RVguy can show us the RV for those cars? (And we can find the original RV through the usual channels)
To be a little bit clear from @jeisensc’s post
No, the Niro is not eligible to claim tax rebates on your tax filing. End-stop.
Under section 45, the Niro is eligible for the lessor to claim a tax credit on their corporate taxes and based on that, they may choose to provide an incentive. You dont have any say in the manner, other than potentially looking for a lessor that does pass on an incentive.
https://rvlg.allydealer.com/rvlg/index.aspx Has current and historical RV info. Don’t really see high RVs for the Sorento here.
We weren’t talking about the Sorrento but the Niro (but Thank you very much for the ally link, I got a hold of it there)
36/10 (assume that’s 10 on ally) Edit : Nope, that’s a 36/15 so adding 3 to the Ally numbers
Car - Ally - Kia Finance
Niro PHEV - 52% - 60%
Sorrento PHEV - 56% - - ?? (No data on Edmunds)
So for a 40k Niro PHEV, you lose $3200 on RV reduction but get $5255 Rebate. That’s a positive return but wow it’s like an $2055 diff
Edit : Wow Ally has a 36/5000. Which bumps the RV to 57% This would be incredible for the flipper except Ally prevents flipping easily
Edit BTW (36/10) (Note : Some trims have different RVs)
- Ford Escape - 5644 / 49-50
- Kia Niro - 5255 / 52
- Kia Sorrento - 7500 / 56
- Mitsubishi Outlander - 6179 / 44-47
- Toyota Prius Prime - 4480 / 56-58
- Toyota Rav4 Prime - 6689 / 60-62
This tells me to not lease a Mitsubishi no matter how much the rebate is.
That Outlander RV seems low for a new 2023 redesigned model.
But it is a Mitsu.
65% RV for the Sorrento PHEV according to Ratefindr on this site for 36/10.
So roughly an additional $4500 vs the $7500 you get, a 3k diff.
Do you know if the MF stays the same, Ally vs Hyundai?
Not a clue, that one is a dealer gotta pull object. It might be on the doc I pulled but that doc has Jan Feb, and MF changes often.
Getting a “Not authorized” error message for that link
Try Auto Dealer Tools | Calculators, User Guides, eStore, & More | Ally and then go to the rvlg doc from there.
Local Mitsu dealer says they are not using Ally anymore. They use Santander who hasn’t published any lease programs on the PHEV yet.
Interesting since CCAP is Santander. Somehow I suspect anything MFS does with the tax credit will be RV support since it’s always been hatefully low on the Outlander.
Assuming there’s a second one you can go here
https://finance-quotes.allydealer.com/NetQuote/user/CreateQuote/NewQuote.aspx
and lookup which dealers in your city are taking Ally.
So far heard Audi and MB are passing the credit back on leases.
Any other EV brands ??