Aiming_4_55
Thinks s/he gets paid by the post
The group has always been great at analyzing key limits and benefits, i.e. ACA, tax brackets, SS vs annuity, etc. I'm interested in the $7500 EV rebate, but don't qualify for the Federal Rebate as-is, since I'm still gainfully employed by choice but frugal. I know, I should just suck it up and pay full price without consideration for the rebate!
An option that I've heard is to lease a car, then pay it off/purchase it a few months into the lease, if allowed. Lease cash that matches EV rebate seems to help offset most of the EV rebate. I'm considering a Chevy Bolt for kid #1 and Tesla Model 3 for wife. We have a newer gas powered vehicle, so range concern is minor. Unfortunately, neither Bolt or Model 3 offer a lease option that would replace the EV rebate amount.
Thought about filing taxes Married filing Separate, but wife's income is about $30k a year and most of that goes to a 401k plan to reduce taxes. Kid is still a dependent, so no tax savings benefit of the EV rebate.
Thought about offering to buy a friend's 2 year old Tesla at a reasonable price. He already applied the EV rebate to the car previously, I may get a discount and he has cash to buy a new Tesla, assuming he still qualifies for the EV rebate. With the price drops on Model 3, he might get a new car with little out of pocket cost after receiving another rebate. Not sure how many times one can get the EV rebate.
Or, am I just gonna add this to the list of reasons to semi-retire or retire? With no income, I can perform some Roth conversions to create a tax liability and the EV rebate would help offset out of pocket dollars.
Have you heard of other options? TIA for legal ideas.
An option that I've heard is to lease a car, then pay it off/purchase it a few months into the lease, if allowed. Lease cash that matches EV rebate seems to help offset most of the EV rebate. I'm considering a Chevy Bolt for kid #1 and Tesla Model 3 for wife. We have a newer gas powered vehicle, so range concern is minor. Unfortunately, neither Bolt or Model 3 offer a lease option that would replace the EV rebate amount.
Thought about filing taxes Married filing Separate, but wife's income is about $30k a year and most of that goes to a 401k plan to reduce taxes. Kid is still a dependent, so no tax savings benefit of the EV rebate.
Thought about offering to buy a friend's 2 year old Tesla at a reasonable price. He already applied the EV rebate to the car previously, I may get a discount and he has cash to buy a new Tesla, assuming he still qualifies for the EV rebate. With the price drops on Model 3, he might get a new car with little out of pocket cost after receiving another rebate. Not sure how many times one can get the EV rebate.
Or, am I just gonna add this to the list of reasons to semi-retire or retire? With no income, I can perform some Roth conversions to create a tax liability and the EV rebate would help offset out of pocket dollars.
Have you heard of other options? TIA for legal ideas.
Last edited:
