coldstorage5
Posts: 3
Joined: Thu Nov 02, 2017 3:34 pm
Delivery Date: 08 May 2017

Re: Republican tax proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 4:44 pm

Hi, Im hoping someone can can answer this. I bought a new leaf in August of 2017 .( I love my car) Since I pay a sufficient amount of taxes I was supposed to get the $7500 tax credit. Here is my questions. When I file in 2/2018 will I still be able to get this credit now that they are ending the program?

Thankyou,
CS

User avatar
Randy
Moderator
Posts: 2061
Joined: Thu Apr 22, 2010 12:29 pm
Delivery Date: 04 Jan 2011
Leaf Number: 0191
Location: San Diego, CA

Re: Republican tax proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 4:52 pm

CS, it's not a done deal....There's a bit of water to go under the bridge before the tax credit is taken away or changed.

What I'm hearing is that the tax credit for 2017 would be okay, and the first year that could be changed is 2018. They can't just pull the rug out from under all the buyers for cars they bought this year...

LeftieBiker
Posts: 7138
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: Republiscum tax reform proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 6:03 pm

DanCar wrote:
LeftieBiker wrote:I'll be pretty ticked off if I have to lease a Bolt for this reason...
Since New York has required quotas for EV sales, it shouldn't raise prices for EV's in New York, unless you were planning on buying a Tesla.


What you wrote makes no sense. Nissan applies the $7500 to the lease as an additional down payment. No $7500 credit, no affordable 2018 Leaf lease. I might as well be trying to get a Tesla. And I'm not sure that you understand what "required quotas" means in this case, either.
2013 "Brilliant Silver" SV with Premium Package and no QC, and 2009 Vectrix VX-1 with 18 Leaf cells.

The most offensive, tasteless phrase in use here is "Pulled the trigger." I no longer respond to posts that use it.

User avatar
evnow
Moderator
Posts: 11429
Joined: Thu Apr 22, 2010 11:41 am
Delivery Date: 25 Feb 2011
Leaf Number: 303
Location: Seattle, WA

Re: Republican tax proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 6:10 pm

Don't just accept this ! Call your representatives, it makes a difference.
1st Leaf : 2/28/2011 to 5/6/2013
2nd Leaf : 5/4/2013 to 3/21/2017
Volt : 3/25/2017 to ?

DanCar
Posts: 932
Joined: Sat Apr 24, 2010 12:00 am
Delivery Date: 10 Mar 2013
Location: SF Bay area, 94043

Re: Republiscum tax reform proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 6:15 pm

LeftieBiker wrote:
DanCar wrote:
LeftieBiker wrote:I'll be pretty ticked off if I have to lease a Bolt for this reason...
Since New York has required quotas for EV sales, it shouldn't raise prices for EV's in New York, unless you were planning on buying a Tesla.
What you wrote makes no sense. Nissan applies the $7500 to the lease as an additional down payment. No $7500 credit, no affordable 2018 Leaf lease. I might as well be trying to get a Tesla. And I'm not sure that you understand what "required quotas" means in this case, either.
The numbers are just invented: Let's say Nissan is required to sell 2,000 BEVs per month. They barely make their quota. All of a sudden a tax credit of $7,500 disappears. They are still required to make their quota, so they will eat the loss, continue the same lease price to continue selling EVs, which is required to continue selling pollution cars.

LeftieBiker
Posts: 7138
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: Republican tax proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 9:09 pm

The numbers are just invented: Let's say Nissan is required to sell 2,000 BEVs per month. They barely make their quota. All of a sudden a tax credit of $7,500 disappears. They are still required to make their quota, so they will eat the loss, continue the same lease price to continue selling EVs, which is required to continue selling pollution cars.


That math is way too simple, and it doesn't factor in the Leaf being a car sold worldwide, not just in the US. Nissan won't eat $7500 on each 2018 Leaf. They can get ZEV credits from PHEVs as well. If the Federal credit gets killed, there will be a long period of stagnation in the EV market, as only the more affluent buy new EVs, and people of more modest means buy cars like the Prime, with the help of more modest state credits and rebates. Used EV prices will skyrocket. By the end of the year there will be serious discounting, but that's far too late for most people like me.
2013 "Brilliant Silver" SV with Premium Package and no QC, and 2009 Vectrix VX-1 with 18 Leaf cells.

The most offensive, tasteless phrase in use here is "Pulled the trigger." I no longer respond to posts that use it.

User avatar
Nubo
Posts: 4476
Joined: Fri May 28, 2010 11:01 am
Delivery Date: 31 Oct 2014
Location: Vallejo, CA

Re: Republican tax proposal will terminate $7,500 EV tax credit

Thu Nov 02, 2017 10:09 pm

Randy wrote:CS, it's not a done deal....There's a bit of water to go under the bridge before the tax credit is taken away or changed....


Yeah I'd be surprised if there is not a TON of negotiations before any major tax reform is enacted. That being said, it's amazing to see the GOP coming out against tax cuts, and FOR double-taxation. They want me to pay Fed tax on money my state has ALREADY taken. Wow. Times change.
I noticed you're still working with polymers.

User avatar
LTLFTcomposite
Posts: 4336
Joined: Fri Apr 23, 2010 6:06 pm
Delivery Date: 10 Dec 2011
Leaf Number: 5926
Location: Boca Raton FL

Re: Republican tax proposal will terminate $7,500 EV tax credit

Fri Nov 03, 2017 2:38 am

I thought EVs we're supposed to be cheaper anyway, so many fewer moving parts.
Why would used EV prices skyrocket?
LTL
White 2012 SV delivered 10 Dec 2011 returned 25 Nov 2014 replaced with stopgap ICE Sentra
[35 months] [35K miles] [9 Bars]
2013 Volt replaced after 36 months/30k miles with ICE Rogue

LeftieBiker
Posts: 7138
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: Republican tax proposal will terminate $7,500 EV tax credit

Fri Nov 03, 2017 3:30 am

Yeah I'd be surprised if there is not a TON of negotiations before any major tax reform is enacted.


I'm sure that there will. Now, does anyone really believe that those negotiations will involve a real fight to save the EV credit? If anything it will become a sop to Republicans to let it die, in return for something like a slightly higher cutoff for mortgage deductions.
2013 "Brilliant Silver" SV with Premium Package and no QC, and 2009 Vectrix VX-1 with 18 Leaf cells.

The most offensive, tasteless phrase in use here is "Pulled the trigger." I no longer respond to posts that use it.

DanCar
Posts: 932
Joined: Sat Apr 24, 2010 12:00 am
Delivery Date: 10 Mar 2013
Location: SF Bay area, 94043

Re: Republican tax proposal will terminate $7,500 EV tax credit

Fri Nov 03, 2017 3:37 am

LeftieBiker wrote:...They can get ZEV credits from PHEVs as well. ...
PHEVs are in a separate category and automakers have a quota for those too or are required to buy expensive credits.

Return to “Business / Economy and Politics”