BlueberryPie
Recycles dryer sheets
- Joined
- Feb 17, 2021
- Messages
- 268
My 2011(bought in 2010) Kia Sorento is getting old (transmission slipping) so I might be time to think about a replacement
We need two vehicle and buy one more or less every 5 years and alternate between a smaller one and an SUV style. We decided to push off the RV Trailer purchase for a few years so this is going to be our smaller/commuter vehicle purchase. I say commuter but as the other small car (Subaru Impreza) gets old and unreliable, the car were about to buy would be one our main car till we buy something that can tow a trailer.
My budget to stay under $30K, there isn't a ton on ICE vehicles to be had at that price (Kia Soul, Hyundai Kona are in the low-mid $20Ks base price) but is was noticing that I can get some EVs a lot cheaper with the tax rebates. You can get $7500 federal on some cars (my MAGI is under $300K) and my state offers $5000 also. My tax liability would exceed both incentives, so I would basically get a $12,500 discount
That suddenly makes a basic Tesla Model 3 in the high $20ks and within my budget.
I think the only other vehicle that qualifies for the full tax credit is the Chevy Bolt which breaks $30K before incentives and could be below $20k after incentives.
I'm not necessarily wanting an EV, but if feels that either a Tesla or a Bokt would be higher value for my money than ICE vehicles similarly priced?
Am I letting the tac inctives wag the dog?
Am I better off buying the car in late 2023 to get my incentives applied to my April taxes rather than buy in early 2934 but wait a year to get "refunded"? I heard dealers may be able to offer the discount on the spot in 2024 (but will they charge for the convenience)
We need two vehicle and buy one more or less every 5 years and alternate between a smaller one and an SUV style. We decided to push off the RV Trailer purchase for a few years so this is going to be our smaller/commuter vehicle purchase. I say commuter but as the other small car (Subaru Impreza) gets old and unreliable, the car were about to buy would be one our main car till we buy something that can tow a trailer.
My budget to stay under $30K, there isn't a ton on ICE vehicles to be had at that price (Kia Soul, Hyundai Kona are in the low-mid $20Ks base price) but is was noticing that I can get some EVs a lot cheaper with the tax rebates. You can get $7500 federal on some cars (my MAGI is under $300K) and my state offers $5000 also. My tax liability would exceed both incentives, so I would basically get a $12,500 discount
That suddenly makes a basic Tesla Model 3 in the high $20ks and within my budget.
I think the only other vehicle that qualifies for the full tax credit is the Chevy Bolt which breaks $30K before incentives and could be below $20k after incentives.
I'm not necessarily wanting an EV, but if feels that either a Tesla or a Bokt would be higher value for my money than ICE vehicles similarly priced?
Am I letting the tac inctives wag the dog?
Am I better off buying the car in late 2023 to get my incentives applied to my April taxes rather than buy in early 2934 but wait a year to get "refunded"? I heard dealers may be able to offer the discount on the spot in 2024 (but will they charge for the convenience)
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