NJ only:Chevy Bolt (electric car) $55/$72 a month 36/10k miles with one pay

[avromie7]

Try to hear me out. Let's assume you're like me and paid $8,300 up front to lease the Bolt for 3 years. Let's also assume you plan on buying out the car at the end of the lease. So, instead of opting in for a trade for another car and cashing the $5,000 difference from Chevy, why not return the Bolt to Chevy, cash in $8,300, and then buy the same EV you have now at $26,595 MSRP, and cash in on the $4,000 NJ rebate. So essentially after the 3 year lease this option will land you a Bolt for $14,295. The other option will maximize the difference in MSRP at $5,000 and not being able to take advantage of the NJ rebate.

Are they available for MSRP?

[coffeebean]

Why don't you swap into a different chevy with the same MSRP ice vehicle and sell it once you receive it?

Then go buy the bolt with the money you make off that deal.

ICE vehicles sell for more than Electric?

Are they available for MSRP?

If dealers are willing to do swap at MSRP what do they care to sell at MSRP? IDK I'm just assuming.

[avromie7]

ICE vehicles sell for more than Electric? If dealers are willing to do swap at MSRP what do they care to sell at MSRP? IDK but I'm just assuming.

Swap comes from the factory, they just host it. Sale comes from their stock/allocation.

[coffeebean]

Any insight on a $35,000 Traverse vs a $35,000 EUV which has a higher resale value?

[normathej]

Any insight on a $35,000 Traverse vs a $35,000 EUV which has a higher resale value?

I would guess the Traverse - because the EUV is going to be discontinued in 2024. Though there is time to make that decision. I’m sticking with the bolt for now because I shudder at the thought of paying for gas in the traverse for the next 16 months…. And I do actually need the car now.

[normathej]

Try to hear me out. Let's assume you're like me and paid $8,300 up front to lease the Bolt for 3 years. Let's also assume you plan on buying out the car at the end of the lease. So, instead of opting in for a trade for another car and cashing the $5,000 difference from Chevy, why not return the Bolt to Chevy, cash in $8,300, and then buy the same EV you have now at $26,595 MSRP, and cash in on the $4,000 NJ rebate. So essentially after the 3 year lease this option will land you a Bolt for $14,295. The other option will maximize the difference in MSRP at $5,000 and not being able to take advantage of the NJ rebate.

If you’re thinking about that, sit tight until the federal law passes, because it may reallow the tax credit of $7500 to be used for GM purchases. If that happens, I will buy a new bolt too. It’s pretty much the cheapest EV out there.

Also - you have to turn the vehicle in right then, you don’t get the rest of the lease term. So make sure you don’t have a gap while you wait for the new car…

[Saver2000]

If you’re thinking about that, sit tight until the federal law passes, because it may reallow the tax credit of $7500 to be used for GM purchases. If that happens, I will buy a new bolt too. It’s pretty much the cheapest EV out there.

You know the $7500 is non-refundable, right?

[normathej]

You know the $7500 is non-refundable, right?

Meaning I have to owe that much in federal taxes for the year? I don’t think your average Jewish family has that problem…

[Realshlomo]

You know the $7500 is non-refundable, right?

That's how it used to be. Now there's just an income cap.

Meaning I have to owe that much in federal taxes for the year? I don’t think your average Jewish family has that problem…

It's a pos rebate. Unless you're over the income limit you're good.

[curly]

Electrek.co: Here’s every electric vehicle that currently qualifies for the US federal tax credit.
https://electrek.co/2022/07/29/which-electric-vehicles-still-qualify-for-us-federal-tax-credit/

thank u. I see the Pacifica plug in hybrid would qualify? is this correct ? is this van available

[Saver2000]

It's a pos rebate. Unless you're over the income limit you're good.

So it's not a tax refund? It's unrelated to your tax return?

So basically the dealers will do what they did when the  state gave an instant rebate - they'll mark up the price.

[Realshlomo]

So it's not a tax refund? It's unrelated to your tax return?

So basically the dealers will do what they did when the  state gave an instant rebate - they'll mark up the price.

I believe the only way it's related to your return is with your income.

Regarding dealers marking it up, that can be prevented with a clause that says only cars at msrp. But yes without that they'll prob abuse this.

Can't know anything for sure until the bill passes.

[coffeebean]

Seacoast estimate for new Bolt $1,100 down and $247 a month. Not too bad. They need me to come down to sign the NJ Rebate papers even before car is ordered.

[normathej]

Seacoast estimate for new Bolt $1,100 down and $247 a month. Not too bad. They need me to come down to sign the NJ Rebate papers even before car is ordered.

I assume that's with bolt loyalty discount?  1LT or 2LT?

[Saver2000]

I believe the only way it's related to your return is with your income.

Can't know anything for sure until the bill passes.

So if I purchase a car today and the bill is passed in 2 months, how will I get the $7500?

[Realshlomo]

So if I purchase a car today and the bill is passed in 2 months, how will I get the $7500?

If that would work (an order in 2022 with delivery 2023) the rebate would be POS.

[Saver2000]

If that would work (an order in 2022 with delivery 2023) the rebate would be POS.

Oh. I misunderstood. So when it passes, the start date will be 1/1/23.

[coffeebean]

I assume that's with bolt loyalty discount?  1LT or 2LT?

1LT. I didn't ask about Loyalty.

[coffeebean]

What about Costco is Costco discount still around?

[normathej]

Try to hear me out. Let's assume you're like me and paid $8,300 up front to lease the Bolt for 3 years. Let's also assume you plan on buying out the car at the end of the lease. So, instead of opting in for a trade for another car and cashing the $5,000 difference from Chevy, why not return the Bolt to Chevy, cash in $8,300, and then buy the same EV you have now at $26,595 MSRP, and cash in on the $4,000 NJ rebate. So essentially after the 3 year lease this option will land you a Bolt for $14,295. The other option will maximize the difference in MSRP at $5,000 and not being able to take advantage of the NJ rebate.

FYI if you are considering this route, and buy the new bolt before your turn your existing lease in, there is also a $3,750 bolt lease loyalty credit from GM.