Chevy Volt Pricing and Value

[mikegg]

From this article:
http://www.dailytech.com/GM+Offerin...ves+to+Move+SlowSelling+Volt/article31734.htm

Am I doing the math right?

$39,145 MSRP - $7,500 credit - $5,000 incentive - $3,000 cash = $23,645 total with 0% APR?

If it's indeed just $23k with 0% APR, that surely beats the living crap out of buying anything in that price range, no? I mean a decent Civic can cost you $23k nowadays.

 

[Zivic]

If it's indeed just $23k with 0% APR, that surely beats the living crap out of buying anything in that price range, no? I mean a decent Civic can cost you $23k nowadays.

you can buy a lot of cars for 23 grand.

think i would rather own a wrx/focus ST before a volt, so no, it doesn't beat the living crap out of "anything" in that price range. I would rather own a civic SI than a volt as well.

if you are into the car, 23 grand doesn't sound like too bad of a deal for it (but I didn't check your math... only your logic)

 

[NutBucket]

I'd say its a better deal than a Prius IF you can do most of your driving on battery power. And for $23k your Civic would be an Si with 200hp and a 6MT. Sorry, not really comparable to a Volt.

 

[sgrinavi]

Get 6 and flip'm on ebay.

 

[Imported]

I'd say its a better deal than a Prius IF you can do most of your driving on battery power. And for $23k your Civic would be an Si with 200hp and a 6MT. Sorry, not really comparable to a Volt.

If this was last October and I had a place to charge the car (live in an apartment with no charging stations) we would have bought a Volt over the Prius we bought. $23k for the Volt is great.

 

[NutBucket]

Exactly. I could drive to work on a full charge, plug in and drive home on battery power. Would be perfect. But, I also have no charging ability at my apartment.

 

[Mermaidman]

From this article:
http://www.dailytech.com/GM+Offerin...ves+to+Move+SlowSelling+Volt/article31734.htm

Am I doing the math right?

$39,145 MSRP - $7,500 credit - $5,000 incentive - $3,000 cash = $23,645 total with 0% APR?

If it's indeed just $23k with 0% APR, that surely beats the living crap out of buying anything in that price range, no? I mean a decent Civic can cost you $23k nowadays.

I think it's either $5000 back if you pay cash or $3000 back if you finance through GM for 48 mo. Check GM website.

 

[NutBucket]

True. Priced at $26.6 I'd still say its a pretty good deal.

 

[mikegg]

I think it's either $5000 back if you pay cash or $3000 back if you finance through GM for 48 mo. Check GM website.

Still a decent deal. But add the extra -$3,000 and it's a killer deal.

 

[EagleKeeper]

The 7500 credit goes against your tax bill. It is not a refund. That means you have to adjust your tax withholding to be 7500 in the red to tale full advantage of the credit. Extra 150 /week take home pay.

Increase your withholding exemption by four.
Remember to change it back come Jan.

 

[jagec]

The 7500 credit goes against your tax bill. It is not a refund. That means you have to adjust your tax withholding to be 7500 in the red to tale full advantage of the credit. Extra 150 /week take home pay.

Eh? As long as your federal tax due is over $7500, you get full advantage of the credit no matter what your withholding.

Unless you're talking about the time value of money, of course, but for a single year that isn't going to make that much of a difference.

 

[vi edit]

Lease is interesting. Too bad I live in the miserable state of IL where I'd pay sales tax on the full MSRP. Bleh. A $3000 tax bill up front takes a lot of wind out of the sails of that deal.

 

[JulesMaximus]

Exactly. I could drive to work on a full charge, plug in and drive home on battery power. Would be perfect. But, I also have no charging ability at my apartment.

I would have no charging ability at work and I commute 30 miles one way so a hybrid makes more sense. Plus, I drive too many miles to make leasing a financially sensible move. Donating to Donald Trump's whore fund makes more financial sense.

 

[thomsbrain]

I think you misunderstood the article.

It's $5000 cash back on a 2012 Volt, $4000 on a 2013 Volt, or $3000 off if you finance it with their 0% financing deal. Those aren't stackable rebates, you choose one.

Still, in CA, you can get one for $25,000 net cost after all credits. And let's not forget the carpool stickers.

 

[mikegg]

I think you misunderstood the article.

It's $5000 cash back on a 2012 Volt, $4000 on a 2013 Volt, or $3000 off if you finance it with their 0% financing deal. Those aren't stackable rebates, you choose one.

Still, in CA, you can get one for $25,000 net cost after all credits. And let's not forget the carpool stickers.

For someone who commutes to work a lot, those carpool stickers are really the difference. I know people who bought EVs just to get on the carpool lanes.

 

[NutBucket]

I would have no charging ability at work and I commute 30 miles one way so a hybrid makes more sense. Plus, I drive too many miles to make leasing a financially sensible move. Donating to Donald Trump's whore fund makes more financial sense.

Who's talking about leasing? I wasn't. Apparently our company is gauging interest as far as EV charging stations. I'm guessing there's something in it for them too if they install them. My commute is about 26 miles each way.

 

[nerp]

Cool deal, nice car, but I'd rather have 100 percent electric because I already have a gas car for long trips. If I was out for a full car replacement and this would be the only thing I drive, I'd consider it.

 

[Doppel]

FWIW if you lease these vehicles the manufacturer (Chevy, or Nissan for Leaf) does all the $7500 tax credit mumbo jumbo for you; you don't see it and it comes cleanly and crisply off the top of the cost for you.

 

[EagleKeeper]

Eh? As long as your federal tax due is over $7500, you get full advantage of the credit no matter what your withholding.

Unless you're talking about the time value of money, of course, but for a single year that isn't going to make that much of a difference.

I agree.

Are there a lot of people that have a Federal tax bill of $7500 here.

That was the point that I was hoping to enhance.

It is a credit against taxes; not a refund.

A $5000 tax bill will not give you $2500 back.

 

[EagleKeeper]

FWIW if you lease these vehicles the manufacturer (Chevy, or Nissan for Leaf) does all the $7500 tax credit mumbo jumbo for you; you don't see it and it comes cleanly and crisply off the top of the cost for you.

This discussion was held in a Leaf thread.

Apparently the Feds consider the company holding the lease as the owner and they get the credit.

They can then adjust the price to the lease accordingly.

 

[LTC8K6]

Yes, the rebate goes to the leasing company.

If buying, it's "up to" $7,500.00, you don't get the "extra".

 

[KentState]

I agree.

Are there a lot of people that have a Federal tax bill of $7500 here.

Hell yeah. Just looked and last year was $27,000 federal.

 

[jagec]

I agree.

Are there a lot of people that have a Federal tax bill of $7500 here.

That was the point that I was hoping to enhance.

It is a credit against taxes; not a refund.

A $5000 tax bill will not give you $2500 back.

Well, anyone considering buying a $30k car brand-new SHOULD have a salary over ~$60k a year.

But my car buying habits are more conservative than some.

People certainly need to be aware and do the math before buying based on the tax credit, absolutely.

 

[LTC8K6]

You have to have a tax liability after all of your deductions. The final total on your tax form has to have you owing the feds $X. Then you can get a rebate of that amount, up to $7,500.00

 

[Topweasel]

Well if you are early enough in the year, can't you just have HR change your withholding to drive up what you would owe to ~6k-7k if your getting money back or something like that.