ST Alpha - "So, the clarify... if I buy an EUV for - say - $60,000, I can expect that barring any fancy tax business, that I will pay $60,000?" (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Down to Post

Backboards:

Posts: 167

So, the clarify... if I buy an EUV for - say - $60,000, I can expect that barring any fancy tax business, that I will pay $60,000?

Posted by Mop (aka rburriel) Apr 12 '21, 11:24

This makes me more than a little bit angry as marketing for electric cars constantly promotes the tax rebates like it's a discount on the price of the vehicle yet:

1 - At best, it's a qualified refund at some later date, not when you're signing.
2 - The amount of the refund varies, and there may be no refund whatsoever.
3 - It's likely *NEVER* going to be a sum total of the number quoted (i.e. $7500) off the price you're paying.

Responses:

Uh... yeah. That was my understanding, anyway. -- nm - Spawn Apr 12, 11:39
EV be expensive. I know there's some backend savings on maintenance and gas but the green premium here is pretty high. We have friends who got solar - oblique Apr 12, 11:33 1
- #ididthemath It would have cost me the same to buy the $49k Tesla 3 as my $30k Jetta GLI over five years. - spamlet Apr 12, 11:55
I always thought that I would get it in my tax refund the following year (which was why my window to buy an EV was always november ish). - amanda jeans Apr 12, 11:30 9
- note that I would in fact be totally happy with your scenario one. that was always my assumption (barring quota limits). -- nm - amanda jeans Apr 12, 11:32
- The credit has nothing to do with withholding. -- nm - znufrii Apr 12, 11:31 7
  - Yeah, this is the mistake I was making on B2. - TWuG Apr 12, 11:35
  - "If you owe less you don't get the extra in cash." ?? -- nm - amanda jeans Apr 12, 11:32 5
    - Imprecise language. Non-refundable credits are limited by your total tax liability for the year, not by how much you might owe when you file. -- (edited) - znufrii Apr 12, 11:34 4
      - why not just say that? what I owe is completely different from my liability. so clarifying -- (edited) - amanda jeans Apr 12, 11:36 3
        
        Yes. -- nm - pmb Apr 12, 12:36
        
        Also note that the credit covers a time period. It doesn't instantly drop in half on the 200,000th (example) sale. It - TWuG Apr 12, 11:46
        
        Yes, that sounds right. -- nm - znufrii Apr 12, 11:38
Pretty much. -- nm - znufrii Apr 12, 11:30
bait-n-switch! -- nm - decline Apr 12, 11:29
At the time of sale, you'll pay $60k. After that, whatever happens is between you and your governments. - TWuG Apr 12, 11:28

Post a message top

So, the clarify... if I buy an EUV for - say - $60,000, I can expect that barring any fancy tax business, that I will pay $60,000?

Replies are disabled on threads older than 7 days.