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Old 11-15-17, 09:41 AM   #191
gasstingy
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Thankfully, it has to go through the Senate and then the Senate and House have to reconcile their two versions inito something they can send to President trump for his autograph.

Many are working to not let this credit be killed, including General Motors & Tesla {I don't think Tesla carries much weight in this regard though}. There is a little hope for this to do the normal phase-out.

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Old 11-15-17, 09:50 AM   #192
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I really hope the tax credit does not get phased out.

Personally I need the tax credit this year and I would not buy it new without the tax credit.

It was very hard to find the Volt we were looking for. After owning Gen1 we are very picky.

We wanted gray (satin steel) heated seats/heated steering wheel with Bose sound system cloth interior.
No other options. They are pretty loaded anyway even back camera is standard.

Dealer located one and should know if they can get it later today.
It from a dealer they trade with so it should not be a issue.
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Old 11-15-17, 10:23 AM   #193
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Even if this gets killed, if you buy {take delivery and register it} this year, I'm near certain it would not apply to you. If it does goes through the way it was reported and you took delivery in January, you would not be eligible.

BTW, the $7500 tax credit is only good for $7500 if your tax liability, not the amount you've paid in this year, is $7500. This credit is not able to carryover if you don't use it all. There may be a couple of stratagies to increase your tax liability this year, bringing it from a future year to help max out the amount of your credit, though. By that, I mean, if you were to convert a Traditional IRA to a Roth, you would owe the tax that otherwise would have been deferred until you withdrew the money. Then, THAT money would be Roth, not subject to Federal tax when you withdrew it.

IMPORTANT NOTE: Please don't blindly trust this advice, but talk to a tax person to make sure whatever you do, you are informed about any possible negative consequences.
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Old 11-15-17, 11:14 AM   #194
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Best of luck with your new Volt ! :-)

How much are you saking for the old one ?

Wyr
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Old 11-15-17, 11:19 AM   #195
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How many miles are you now getting on a battery charge ?

Wyr
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Old 11-15-17, 11:25 AM   #196
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My 2013 Volt I am selling for 8K

I have someone that wants to come 1 ½ away with money on Sunday. (It is not promised to anyone)
If not I will trade it in they are giving me 7,500 for trade in. So on Monday if it is not sold it will get traded.
We are getting the same range as when it was new.
Today it was 42 degees out and I still got 38 EV miles when it is warmer we get 40-42 all the time.
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Old 11-15-17, 11:38 AM   #197
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Some good news EV tax credit it is still in the Senate bill.

Electric vehicle tax credit preserved in Senate’s revised tax bill, says senator
https://electrek.co/2017/11/09/elect...-says-senator/

I am not concerned that I will get the credit they will end it Jan one 2018.

But I would like to see it stay to help EV sales.
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Old 11-15-17, 11:43 AM   #198
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Quote:
Originally Posted by gasstingy View Post
Even if this gets killed, if you buy {take delivery and register it} this year, I'm near certain it would not apply to you. If it does goes through the way it was reported and you took delivery in January, you would not be eligible.

BTW, the $7500 tax credit is only good for $7500 if your tax liability, not the amount you've paid in this year, is $7500. This credit is not able to carryover if you don't use it all. There may be a couple of stratagies to increase your tax liability this year, bringing it from a future year to help max out the amount of your credit, though. By that, I mean, if you were to convert a Traditional IRA to a Roth, you would owe the tax that otherwise would have been deferred until you withdrew the money. Then, THAT money would be Roth, not subject to Federal tax when you withdrew it.

IMPORTANT NOTE: Please don't blindly trust this advice, but talk to a tax person to make sure whatever you do, you are informed about any possible negative consequences.
I have no worries that I will use all the credit. I have more money than that sitting in the bank waiting to pay the IRS Taxes for this year. So I will take 7,500 of that money out and use it on the car instead of paying it to IRS.
Instant gratification.

It was a bummer to find out my state SC ended EV tax credit last year. That was $2,000 for a Volt.
They voted to end it early that is why I did not know that they did it.
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Old 11-16-17, 03:48 PM   #199
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I sold my Chevy Volt today. It is a sad and a happy day all in one.
We met at his bank ten miles from my house and he gave me a big wad of hundreds.
My new Volt is going to be here Friday or Saturday.
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Old 11-16-17, 04:48 PM   #200
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Congrats , my friend !

Here is wishing it serves you as well as the first one did ! :-)

Wyr
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