Extremely high MSRP , poor residual and no tax credit makes this unleaseable.
Maybe I’ll have hope on the i4
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Certainly looks better to me financed (then again, I’m against buying EVs right now in general, but that’s another story).
Anyways in NJ @ 60 mos w/ 3.99% you’re at ~1715/mo financing the full 93k, not even accounting for the 7500 tax credit (if you can fully utilize it).
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If your total Federal tax liability is less than $7,500, you probably should not be buying a 93k car anyway.
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I don’t understand how someone tax liability can be that high unless they are running a business. Even if you make $200k+ a year working a job, your taxes are withheld so you never reach the high liability level anyway. If there is a way please enlighten me.
To qualify for the full $7,500 credit, your total tax for the year just has to be $7,500. Total tax is shown on line 24 on Form 1040. Any withholding or estimated payments have nothing to do with whether you qualify for the credit.
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Withholdings and liability are unrelated
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@mllcb42 @cruiserchuck @jebryan
Thanks for explaining, didn’t know this
Edit: final question, this being a non refundable credit, how does that factor into it? Let’s say your total tax for the year was $10k and you withheld $5k so you’d have to pay $5k. Now if you apply the $7500 ev rebate, you wouldn’t have to pay anything now but you only utilized $5k of the rebate, correct?
It goes based on the total tax due to the IRS on your filing, not what you “owe” additional at the end of the year. So if you owe the IRS $10,000, and your W2s only withheld $5k, you would owe the IRS another $5k, With the $7,500 credit, you’d get $2,500 refund ultimately on taxes because your liability is still $10k.
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But that’s if the EV credit was a refundable tax credit and it’s not.
You’re misusing the term refundable tax credit here.
A refundable tax credit is one that can be applied above and beyond your tax liability. It has nothing to do with if you get a refund or owe money at the end of the year based on your withholdings.
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For 2021, a single person would have a tax liability of $7,500 if their taxable income was $53,400 or above. A married person would have a tax liability of $7,500 if their taxable income was $65,800 or above. So most folks buying an iX would qualify for the full $7,500 credit.
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once again, thanks guys for clearing this up, now my mindset has changed on ev’s lol
Ouch, that is almost 10x the monthly of our current i3
If you know you are getting a tax credit you change your withholding so tax isn’t withheld. You employer will withhold whatever you tell them too.
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Just checked out the iX and the i4 this past weekend at a local event, and the numbers they were giving out to people were downright 
(surprise, surprise). No thank you, I can do without paying 2k/mo for one of these.
They also took three XM pre-orders/deposits, which to me felt like they were jumping the gun but perhaps the launch timeline for that is coming soon? Yes on that one, please!
So ugly not even a mother could love it. Did you put a deposit down?
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