CVAP Grant and Gross Cap question

Ask the Hackrs
1

I was recently approved for the CVAP grant and one of the requirements is that the gross cap of the leased vehicle including all taxes and fees must be under 45,000

I was looking at the EQB250+ with an msrp of 54,xxx and after dealer discounts, the gross cap ends up being 48k which is 3k above the limit.

Is there anything that I can suggest to the dealer in order to lower the gross cap? I was thinking of trading in a vehicle and taking 3k less than trade in value and asking dealer to discount eqb250 another 3k. This is just moving money around but seems complicated. Any simpler way to do this?

2

As there are zero Mercedes Dealerships in the CVAP approved dealer list, the answer is a hard NO

3

House of imports

4

Oh ugh and I know them

5

Hmm…it’s doable
The $7500 EV and $2500 AMEX is part of the Cap Cost.

So you take 10k off.
You ask for 10% (HOI can do that from my experience) and that will take off $5500 off the bottom model.

So your Price on the $55k (Base car) is now 39500 .
Add $3000 in Taxes and fees and you are sitting at $42500.
So doable

Lets see with the $56k TOL Non AMG
-10000 = 46k
-5600 = 40400
+3000 = 43400

So as long as it isn’t the AMG and you have AMEX/PenFed/Sams, you can do it.

6

The problem is that they won’t apply the $7500 EV lease rebate to gross cap. It’s used on a separate line called “cap cost reduction”.

I was told that it has to do with tax or something because you need to pay tax on the $7500 EV lease rebate.

7

oh well ugh, then it’s up to the dealer to do ‘creative financing’ to make that happen. What did HOI say?

8

You wot? When did you apply? I thought all funds have been allocated? Please say before I applied, which is June 8ish, so I don’t expect an approval.

9

Can I interest you in a Volvo XC40 then? They take the $7500 off the price instead as a rebate.

10

I applied around 6 months ago

11

Only Volvo dealer I see eligible is Monterrey but if I can use this grant of course I’d be interested in XC40 or C40. In fact I was looking at Volvo as well

12

I applied June 1 ,and my sister applied a week before. We both got approval email on Dec 13.