OP is trying to stick it to the government and get back all his Tax money.
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Not at all opposed to the Bolt EUV. But from what I gather, the '22s no longer qualify for the federal tax credit this year. Chevy says they expect that theyâll qualify for 1/2 in 2023 and will work toward the full credit in following years.
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After taxes (CA) and fees, that would put the Model 3 closer to $50k, which, despite how badly I want one of those things, canât be justified at this time. Also does nothing to minimize my tax liability this year, which is primarily what Iâm out to do.
Hope you still get a kick out of the 330e! Good looking car inside and out.
Not too derail too much, but Iâm never had a RWD vehicle - are those a pain in snow/ice?
Bolts have been capped from the tax credit for a while But the 22s and 23s have been price reduced by Chevy by around $6k.
I see your comments about tax liability but buying a EV thatâs $10-15k less than your $45k budget seems to be better than getting $7500 back.
But if youâre bent on Fed credit⌠itâs the lowest trim Mach-E (although tax/title will put you over), finding that 23 TN build ID4 or locating a Leaf for MSRP.
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Yeah. I know I said âanything,â but the Leaf is kind of the exception. The antiquated / incompatible charing, the shorter range, the size and, really, just the way it looks⌠Surely works for some people, but â and I wonât go into more detail than to say â not ideal for us. That said, itâs got 4 wheels, a battery and it qualifies. Iâll check around and reconsider for sure.
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If they want to give, Iâm happy to take!
You appear to be right. If we could find an in-state TN build, weâd buy it. Have had reservations at 2 dealerships since September, which seems to be late for delivery before 1/1/23. Issue is that I refuse to pay over MSRP and every dealership Iâve seen that has a cancelled res in stock is adding a min $5k mark up.
Mach E is out of budget.
Leaf isnât the right fit for a number of reasons (and its look does absolutely nothing for me), but with state / federal incentives bringing the effective Leaf S pricing down to under $20k before tax / fees, itâs definitely still in the running, IFF I can find one in state at MSRP.
Clutch got a sale on 330e right now
I hope you prove me wrong, but itâs going to be next to impossible to get this in for end of year. I found one dealer group willing to do MSRP and it was total chaos. They sell out into the pipeline and youâd be too far down the notify list. The cars that hit their website as in-transit are already taken by the time they hit the website. They keep trying to pitch me a used one for above a new carâs MSRP and the one time they did have a new car available, they discovered it was already sold in the middle of the call as we were about to reserve it.
Another dealer ghosted me on a car even though it was $2k over and I hadnât even said no to that or tried to negotiate.
So I gave up and just bought out my lease.
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I got a 2023 330e (my third) back in September, I really like the car, 6% off is a good deal with $5836 tax credit. I know @max_g will say that tax credit is off set by sales tax, but if you have to buy any other car, you will have to pay tax and not get a tax credit, just find your TCO sweet spot and sell it then.
No, Jeisensc is right. He said if line 37 âamount you OWEâ is above $7,500. Line 37 would not exceed $7,500 unless line 24 (total tax) ALSO exceeded $7,500.
In general people should look at line 24 total tax to determine eligibility but in this case OP has stated that they will owe in excess of $7,500 which mean their total tax has to exceed $7,500
Whatâs the range in all electric and what kind of mpg do you get in hybrid mode?
Some people think their Line 37 must exceed $7500 in order to qualify for the full credit because thatâs where IRS uses the word âoweâ. This is NOT true and what OP was apparently alluding to. I was pointing this out.
Of course youâre correct â if Line 37 is >$7500, Line 24 must be also >$7500. But why look at Line 37 in the first place when it has no impact on credit eligibility?
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I agree with Line 24, it can be used as a good basis over line 37.
HOWEVER
The technical rule is 1040 - Line 18 - Minus Schedule 3 Lines 1-4, 6d, 6e, 6i
Line 18 is your tax liability, Schedule 3 reduces that liability by giving you a direct tax refund for Foreign Tax, Child Care, Education Costs for you and your children and IRA CONTRIBUTIONS (Thatâs Line 4)
So there can be cases where Line 24 is 0 and you still can get the $7500 credit, it just depends on where the deductions in Schedule 3 went. Line 18 must be 7500 to even start
On a side note, if you are even a dollar under $7500, you cannot take a $7499 credit, itâs now 0
OP - do you have to stay within the state?
If we are talking ONLY Fed rebate than why not expand to any state and have it shipped?
Unless you are also trying to collect some CA state or CA utility rebate.
Last longish trip I took the app said 33 miles and it used 0.5 gallon of gas. I probably started with full electric, supposedly if you enter your destination in the GPS, it will figure out the perfect combo of gas/electric drive. Pure electric range around 22 or so but I donât live in harsh winter area (Norcal).
Sahara 4xE toaster on wheels eases out 26 miles on full charge 17.5kwh âŚoff the top of your head do you know 330eâs battery capacity?
Itâs 12 kwh for a 330e so using math 18 Miles per charge?
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Sounds good to me! Cheers. (I donât disrobe in public, and I donât do math in public! lol)
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