I am returning a leased 2021 Chevy Bolt EV Premier as the buy out price is 23,500, more than the blue book, I am thinking of getting a new bolt or leasing another one. Is it better to wait till 2024 for the rebate?
Point of sale is definitely easier than filing. A friend of our who bought a Tesla in 2022 is being audited by the IRS because of the tax credit. Not sure what happened, but he said that he submitted everything properly, but now he has to meet with the IRS in person. PITA.
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Battery critical minerals and battery components requirements are becoming more strict on 1/1/24. Some vehicles that currently qualify for the full $7,500 credit on a sale may not qualify in 2024. I do not know the situation on the Bolt, but I would look into this before waiting for 2024 if you are planning to buy, not lease. For leases, nothing will change.
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There are arguably better EV at more appealing price points in the Marketplace
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I didn’t even know that an in person meeting with the IRS was possible. Do they fly an agent out to you?
They have started going after people that leased and claimed the tax credit.
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They bought.
Yeah. I got audited once. You make an appointment, and then go to the federal building. Then go there again. It’s a long process. A complete waste of time in my case since I was only making like $75k/yr, all salary, and I took standard deduction. Not sure how I even got flagged. Maybe because I used Turbo Tax when it first came out like 25 years ago.
They don’t lease well at all, need to look at Kia, Nissan or VW now.
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