NYS Electric car rebate

Ask the Hackrs
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1

does anyone know how this works in NYS, I’ve spoken to a few dealers they all gave me different answers

what I know, For the BMW i3 rebate is $2000 and $7500 tax credit
what I don’t get is that something the dealer/broker does for me or do I have to fill out some paper work for it after I sign the contract also does the deal have to be done in NYS or can I go to a dealer/broker in NJ

because some answers I’ve gotten from dealers were like ‘yeah we worked that 9500 into your payment and your monthly will go down $10’ that doesn’t make sense at all lol

I will appreciate all insight into this thank you so much !

2

I think it has to be at a NY dealer and done/applied to the deal at the time of signing.

3

The $7,500 should be applied immediately as technically the captive is receiving the tax benefit since they “own” the car. They don’t have to legally pass along the entire rebate, but most do.

The other $2K you mentioned is the lease cash on the BEV model or is there a separate NYS incentive? Lease cash would obviously be applied upfront.

4

https://www.nyserda.ny.gov/All-Programs/Programs/Drive-Clean-Rebate/How-it-Works

This is how the Drive Clean rebate works. It’s a rebate that is applied by the dealer at the time of sale. You must be a NYS resident and the dealer must be located in NYS. Focus on getting a selling price before rebates and incentives, and be clear about that. Alternatively just reach out to @HN308 and get it done with the help of a broker here who services your area, and has a reputation for reliability and transparency. There’s plenty of other good ones too, but he seems to have an inside track on NY dealers at the moment. There aren’t that many i3s hanging around the region at the moment.

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5

thank you guys I appreciate your help

6

Just to be clear. The rebate goes to the dealer snd you can expect every quote you get to include the rebate

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7

You definitely need to push and get a breakdown. I’ve noticed that New York dealers are sometimes stingier with the discounts when these rebates are involved.

8

The NY rebate is not necessarily good in this case.

To get the state rebate you need to lease it for 36 months.

Doing a 24 months term is better without using rebates as the BMW incentive gives more value for shorter term lease.

Every deal is different so check it for a particular car you want.

I have done 11-12% deals before incentives in NY/NJ in last 2 days. That should be your goal to beat.

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9

This is the reason why i dread CA move to point of sale rebate. There is no way that the dealers will not take advantage of this.