When can you take advantage of the rebates!

[EnergyNovice]

New to EV's!

 

[Randy]

Different rules for different states. In California, you need to lease/buy and keep the car for 3 years. A two year lease doesn't qualify for the $2500 rebate.

The Federal $7500 tax credit is factored in by Nissan if you lease, but you have to apply for it in your next tax return if you purchase. You need to have at least $7500 in tax liability to get all of the credit back, so if you have less liability than that, it may pay to lease and have Nissan apply it to your lease contract...

Where are you located?

 

[MrIanB]

If you want to buy, lease it, make a couple of payments and come back to dealer to refinance as a purchase. This way, you don't have to worry about having 7500 tax liability and you got it applied as your down payment.

Hope you buy one.

Ian B

 

[RePo]

This is an excellent idea I had not thought of before. I've been struggling with how to make the purchase of the 2013 when it comes out. I don't have a tax liability anywhere near $7500, so I'll be way shorted on the tax credit. Even though the dealer throws the number around like it's a sure thing. So now I'm intrigued by leasing the car, getting my $7500 off the top, then going back in a month to write a check for the lease buyout. It'll cost a little extra, but I'll recoup the ~$4k I would have been shorted on the tax credit. I just started searching lease buyout info.

 

[Herm]

You dont even have to wait a month..

 

[planet4ever]

This is an excellent idea I had not thought of before. I've been struggling with how to make the purchase of the 2013 when it comes out. I don't have a tax liability anywhere near $7500, so I'll be way shorted on the tax credit.

This is indeed good advice for lower income buyers-to-be, but be sure you understand what the rules are. Your tax liability is not what you have to pay on April 15. It includes everything you pay during the year as payroll income tax (but not social security) deductions. So if, for example, you have $150/week taken out of your paycheck for income tax, you are quite likely to be paying $7500/year in taxes. The only way to know for sure is to look at your 2011 Form 1040 line 61 or 1040A line 35.

Ray