In other words, no reason to avoid getting a 36m lease on an EV today if the deal is right.
Exactly. Avoiding a lease makes no sense, since it’s exactly that: a lease. A buyer would then benefit from any advancements with their next vehicle. Range and charging on most electric vehicles has advanced enough to be practical for at least three years if not many more.
I’m thinking about buying more or less since there’s unpredictability involved with the rebates and I’m committed to staying electric over the long run.
With these registration fees, would doing an in state lease transfer trigger the new $250/fee?
Any EV registration or renewal starting now will generate a bill for the fee in the fall.
Gas prices are so low in NJ now, you might better off with a mild hybrid and avoiding these new fees.
I gotta pay a third party for EV charging in my complex at $0.30/kwh which kind of sucks, unless the vehicle would take premium gas!
Dealer discount, Manufacturer leash cash, NJ EV charge up incentive, down payment, monthly payment, fees(acquisition fee, doc fee etc), would all these items be taxed, or only some of them? If some of them, what are they?
I haven’t seen any guidance for leases yet. The bill (linked in here: NJ Division of Taxation - Sales Tax Exemption - Zero Emission Vehicles Exemption) only says “on the receipt from sales,” which generally means the selling price. I’d be surprised if they tax on the selling price, rather than the depreciation the way they tax on gas cars.
the same way a gas car + the additional EV fee.
Thanks. EV has $15k and more incentives usually. Would these incentives be taxed as well?
I found this doc.
Total lease payments method
When calculating the tax using this method, the following items must be included in the
sales price:
• The lease amount (including depreciation, interest, or finance charges, often
referred to as the money factor);
• Acquisition fees, capital cost reduction payments, and all other fees and charges
paid to the lessor that represent the lessor’s charge for the lease;
• Any manufacturer’s rebate or reimbursed coupon applied toward the cost of the
lease; and
• Any charge for documentary service fees imposed by the dealership (See question
7).
NJ sales tax exemption for ev will end OCT 1.
I have two leases. Should i just buy them out now to avoid the full 6% tax on the residual next year?
Buyouts are 30k each and about 20 months remaining.
Or is it unknowingly fortuituous that tax only applies to new leases/purchases after oct 1?
Thnx in advance!
Don’t buy out an EV, turn in and lease another before Oct 1
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What are the makes and models?
Were you planning to buy either/both at lease-end?
The final countdown, one-month left before EV sales tax returns in NJ. I’m looking into a few balloon loan options. With the right vehicle, a balloon loan could be a good way to carry a large tax credit, while still making lease-like payments. Another option is to grab a 23-model year EV at auction. As long as the used EV credit remains, these should be easy to move around later.
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You don’t want another Tesla. Just get yet another BMW. 
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I have gotten conflicting information on this and I guess for some reason I can’t process what the NJ Charge Up website is saying, LOL.
The new program has rebates that could total up to $4000. As I read it, there is a $2000 Charge Up rebate and then a $2000 Charge Up+ rebate. For the Charge Up+, that program starts later this year and is tied to income thresholds. But are there income thresholds for the first $2000 under the renewed Charge Up program? How does that rebate work?
no. it’s a point of sale rebate that your dealer, who has to be signed up w the program, must put into the deal.
And then as I read, for the extra $2000 under Charge Up+ which starts later, you have to be pre-screened to meet the income threshold, correct?
Thanks for your response.
I heard a couple of dealers say that NJ has a $1400 registration fee. However when I search online, I see only $250.
What am I missing?
It starts at $250 per year and goes up $10 each year reaching $290 in 2028. This is on top of the regular title and registration fees. On a 3-year lease, just the EV fee could potentially be $780.