joeriv
Well-known member
Am I missing something? For the 2018 SV if I calculate out total lease payments + down payment + residual, I get $32, 402 assuming buyout and the end of a 36 month lease.
Where's the deal?
Where's the deal?
joeriv said:Am I missing something? For the 2018 SV if I calculate out total lease payments + down payment + residual, I get $32, 402 assuming buyout and the end of a 36 month lease.
Where's the deal?
joeriv said:If you’re going to do a purchase I think you have better options than an out-of-warranty Tesla, which can be VERY expensive to fix.
On a purchase you can still get the $7,500 tax credit for a Nissan, Kia or Hyundai EV purchase (assuming you can take advantage of it). I think the Kia Niro deserves a look - I drove the Hyundai Kona and the Niro, from what I have read, is a better option.
You may have additional purchase incentives such as from your state and local utility. At a minimum I would look for at least $10,000 off MSRP.
joeriv said:Scenario 1: Buy used Tesla $35,000 and you owe $10,000 in Federal Income Tax. At the end of the year, you have paid out $45,000.
Scenario 2: Buy New EV for $35,000 and you owe $10,000 in Federal Income Tax. At the end of the year you paid out $37,500 because you pay only $2,500 Federal Tax, so you’re ahead $7,500.
You can only take the $7,500 credit in one tax year, so if your Federal Taxes are less than $7,500 you lose out the difference between the $7,500 and what you owe. I’ve done this twice.
joeriv said:If you’re going to do a purchase I think you have better options than an out-of-warranty Tesla, which can be VERY expensive to fix.
On a purchase you can still get the $7,500 tax credit for a Nissan, Kia or Hyundai EV purchase (assuming you can take advantage of it). I think the Kia Niro deserves a look - I drove the Hyundai Kona and the Niro, from what I have read, is a better option.
You may have additional purchase incentives such as from your state and local utility. At a minimum I would look for at least $10,000 off MSRP.
DustanT said:
Right from Nissan's web site, what am I missing that they quoted me for $2,000 down a payment of $475 for a SV 2018?
joeriv said:If you don’t pay Federal Taxes then the EV tax credit is not for you. I assume if you owe money for Federal Taxes it comes from you.
DustanT said:joeriv said:Scenario 1: Buy used Tesla $35,000 and you owe $10,000 in Federal Income Tax. At the end of the year, you have paid out $45,000.
Scenario 2: Buy New EV for $35,000 and you owe $10,000 in Federal Income Tax. At the end of the year you paid out $37,500 because you pay only $2,500 Federal Tax, so you’re ahead $7,500.
You can only take the $7,500 credit in one tax year, so if your Federal Taxes are less than $7,500 you lose out the difference between the $7,500 and what you owe. I’ve done this twice.
That make no sense to me lol where is the 10k coming from?
Oils4AsphaultOnly said:DustanT said:joeriv said:Scenario 1: Buy used Tesla $35,000 and you owe $10,000 in Federal Income Tax. At the end of the year, you have paid out $45,000.
Scenario 2: Buy New EV for $35,000 and you owe $10,000 in Federal Income Tax. At the end of the year you paid out $37,500 because you pay only $2,500 Federal Tax, so you’re ahead $7,500.
You can only take the $7,500 credit in one tax year, so if your Federal Taxes are less than $7,500 you lose out the difference between the $7,500 and what you owe. I’ve done this twice.
That make no sense to me lol where is the 10k coming from?
Do you file your tax return this year? If so, check line 15 on your form 1040 (line 11 if you used the form 1040EZ). That amount there is how much tax you've paid. The smaller of that number or $7500 is how much credit you'll get back for buying an EV.
So if you buy a Leaf this year, then on next year's tax return, as long as the amount on line 15 exceeds $7500, then you can take the full credit. It's a very nice incentive for buying an EV.
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