what would be the cheapest ev car in nj assuming a 12.5k rebate?
guess the ioniq could be around 100/month
NJ doing something stupid? NOOOOO, never happens, like ever! And in an election year to boot.
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Hyundai Ioniq, Hyundai Kona, and the Chevy Bolt would all be great affordable options if a buyer receives all of the rebates they’re entitled to as well as a fair dealer discount.
$100/month is entirely possible on a base model of any of these cars, although I’d suggest stepping up to a Limited.
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They’re unnecessarily complicating it for customers and dealers of other brands. It would be better as a post-purchase rebate that’s promoted properly. A point-of-sale rebate across multiple brands and franchise dealers only works in theory. If my priority was the rebate I would be ordering a Tesla.
Why are you assuming a 12.5k rebate?
Forget about the federal for leasing purposes.
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The Hyundai Kona has a $12,500 lease rebate as well as additional rebates depending on a lessee’s eligibility. These could potentially total to as much as $20,000 with the Charge Up rebate, assuming a dealer passes them on as they should. I’ve also seen some customers that were able to get a ~ 10% dealer discount on top of the available rebates but it’s rare. Lots of potential for a unicorn deal.
It was kind of hilarious since dealers wanted Tesla-level pricing far above MSRP and rebates for the Ioniq even when Hyundai was trying to clear out an old model year. There must be some customers that fall for this. Knowledge is a car shopper’s friend, which is why it’s great that sites like Leasehackr exist. Customers that don’t know better could pay far above sticker, especially those with the misconception that there’s a significant premium for electric vehicles.
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That’s because they’re posted at or above msrp lol
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Given the current economic climate it’s hard to see OEMs passing through 10k worth of rebates on sub 50k electric cars. If they don’t need to do it to move cars they won’t.
But even if they do, dealers can effectively choose not to pass it on. I had a friend recently leased a $46k ID4 in upstate NY for $600 a month. VW passed on full $7,500 federal rebate and NY has a $2k point of sale rebate. To make this deal work in our calculator I had to raise the selling price above MSRP. On a car with a residual of 49%, payments and rebates = 65% of MSRP (and that is after tax payments on lease).
And that’s the problem with these rebates. Most car shoppers only care about monthly payment. Dealers can use these rebates to get to shopper’s requested number while effectively pocketing the rebate. It’s a real tough question but by having the rebate go through bank for lease or IRS for purchase, it gives shoppers the option of working around a dealership that doesn’t want to pass on rebate.
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The Jeep dealer I got my Gladiator from is advertising the 4xe with a full $7,500 markup and they are somehow moving them.
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List of vehicles and their exact rebate listed:
https://chargeup.njcleanenergy.com/eligible-vehicles
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I wonder if the $2,000 cap for the $45k MSRP limit applies to various configurations/options, or if it’s on a vehicle-by-vehicle basis. Technically this would make the ID.4 Pro S and higher trims such as the Kona Ultimate ineligible for the full rebate.
Edit: They do have this adjusted for the Kona but not the ID.4. Also the BMW i3 starts at over $45k so it should be limited to $2,000 per the terms.
Bottom line: if you want the rebate buy a Tesla.
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I’ll say it again for those in the back: this point-of-sale structure is going to be an absolute mess for everyone except Tesla buyers. At least Leasehackrs will know when dealers are manipulating the numbers to pocket rebates that they should be passing on to the consumer.
I’ve lost most of my excitement regarding the program. However, it’s likely I will purchase at least one Tesla before the program is over so there’s that.
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I already had a VW dealer play dumb with me about it. It doesn’t really matter, it’s still a lousy lease compared to other options, even with all the incentives.
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i’ll be the one to ask the question we have all been dying to ask. where the hell is the taycan on this list??? hm?
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The ID.4 is a perfectly nice electric vehicle, but they don’t lease incredibly well even with the $7,500 rebate. $2,000 on top won’t change that. Customers are going to be stuck with the base model if they want the full rebate and a relative deal. Maybe the 1st Edition if they get lucky enough since that’s slightly over $45k with the destination fee included. There’s an early adopter premium for sure. If I was VW I would adjust pricing by $1k-$2k to make the ID.4 eligible for more rebates and greater demand.
A Model 3 Standard Range Plus, which is now possible to lease for $389/month with ~ $1,000 out of pocket, is a more attractive option for consumers that can wait 9-13 weeks to take delivery.
I agree with TSLA lease. But Tesla doesn’t allow lease buyout, right?
They could change this, but that’s their current policy: no lease buyout. It’s unlikely their autonomous taxi network will be ready when these start coming off-lease but Tesla’s hold value like nobody’s business. I would probably just finance and put $5,000 down on top of the $2,000-$5,000 rebate.
damn. Really have to get a ZERO option Mach E to get the full money here. I know the $7500 isn’t getting passed on for leases, so you’d have to buy. $12.5k total off ain’t shabby, though. And zero tax. So $31.5k (if paying full MSRP, which is likely) plus doc fee and DMV is just under $32.5k OTD. That would be $4k less than buying a base Model 3. And you can get a color other than white for no upcharge.
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No buyouts on the 3 and Y. They do allow buyouts on the X and S.