Thought about buying an electric car? NJ may soon offer one of the nation's best incentives

I’m wondering how much of this incentive will be passed along to a lessee, and when it will go into effect. Reading the bill briefly it appears to be immediate, but how will that be implemented on the sales side?

This would have made Ioniq EV practically free.

Hyundai Plug-ins will get around $700 With their meager 29 EV range. Still, better than nothing.

I have been trying to understand how this works. From what I see, NJ S2252 passed which contains a bunch of stuff related to EV’s and charging, but doesn’t have any consumer style $5,000 rebate. NJ A4819 which contains the $5,000 rebate was substituted by NJ2252 and never passed. Does anyone understand how NJ bills work that can comment. My uninformed interpretation is that there is no consumer rebate that was passed, only the stuff contained in NJ S2252. I just signed a Bolt lease yesterday assuming that the rebate was pulled out of the final bill…

Making some possibly wild assumptions here that the full $5,000 is passed on as CCR, and the $1,500 in Volt/Bolt loyalty stacks with the Buypower top off and my current earnings (anyone know?), a Bolt is really tempting…

One pay is possibly even crazier…

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The $500 incentive for a home charger could be of interest to me. If Bolts really got that cheap, I’ll take one sight unseen without even a test drive. That’s just stupid cheap per mile cost.

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I’m in the same boat. I recently discovered/remembered that I do indeed have a 240v outlet in my basement, so a Bolt wouldn’t be totally impractical, just kind of impractical due to the lack of a driveway. That hasn’t stopped me from charging my Volt though.

I can see how this is confusing. Take a look at this.

https://www.njleg.state.nj.us/2018/Bills/S2500/2252_S2.HTM

Leasehackr Score:82.4 years from the calcs… lol
That is a crazy score, and avg ppl may not live that long… just by the number.

I would consider taking advantage of this if I registered my car at work (or could). I don’t like my family in NJ enough to even ask. :stuck_out_tongue: Hah. In theory, because of traffic, it would spend more time in NJ than NY.

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This is a good news for Bolt buyers… waiting eagerly for this to go in effect!

On January 17, 2020 Governor Murphy signed landmark legislation to boost the use of plug-in electric vehicles in New Jersey.
$5000 credit and no sales tax…not bad at all

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I work for a giant, soulless publicly-traded company with correspondingly oppressive overhead costs.

But those costs pale in comparison to the overhead of government.

For every person who gets $5,000 off the luxury purchase of a new car, other taxpayers have probably chipped in $10,000-15,000 or more. And this is money that doesn’t go to cancer research or whatever else you think is worth funding.

I fail to see how this is worth celebrating.

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Well I have a feeling that these rebates will be paid for in spades on our electric bill, just for starters.

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You are welcome to feel however you want.

Asking someone else to spend a dollar to save you 39 cents on your electric bill is ridiculous.

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Consumers will receive up to $5,000 when they buy or lease an all-electric or plug-in hybrid vehicle with an MSRP below $55,000 in New Jersey. The point-of-sale rebate will equal $25.00 per mile of electric-only range, up to the $5,000 per vehicle maximum. The Board of Public Utilities will launch the 10-year rebate program by July 2020.

Does this mean, we will see the first deal in July 2020?

Oh I totally agree with you from a policy and economic standpoint. I was just pointing out one of the many ways that this will be paid for by consumers.

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You can keep bitching about it or take advantage of it…if you are too proud to do it or have ideological issues then that’s on you. The gov wastes money on alot of things that benefit big biz so giving some $ directly back to the people may balance things out a bit. And btw, a cleaner air is worth funding.

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For all his ideology and bluster, I believe even Ron Paul took social security when it was time to collect. :man_shrugging:

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BTW for anyone looking to keep tabs on the rollout of this rebate, here’s the link to sign up for updates:

https://www.stopthesoot.org/sts-listserv.htm

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