$7500 off your next car!

[bennelson]

Looks like the upside of the US Economic Stabilization bill is that it includes EV Pork!

Starting next tax year, there will be a $7500 federal tax credit for for purchasing a new plug-in electric vehicle.

The actual specifics of the dollar amount are based on the total weight of the car (hope that doesn't encourage EV SUVs!!?!?) and the size of the battery pack.

The way the bill is written, seems to exclude used vehicles and home conversions, but would be a GREAT DISCOUNT on your new Chevy Volt!

Check out this PDF
Read full text of Senate bailout bill - CNNMoney.com
and go straight to page 190 for the exact details on this.

Wish I could use this to get a big discount on my tax bill for my Electro-Metro, but I don't think it's going to work that way!

Our government only encourages buying new stuff!

[igo]

GM will be happy. More people will buy the volt with $7500 off.

[greenitup]

yea, but does it include only cars with an ice, or can it be just a new ev?

[bennelson]

I only saw reference to "plug-in electric".

No mention of internal combustion engines at all.

I did talk to a GM representative (Rich Gunther
General Motors
Fleet Account Executive Government and Alt Energy guy)
this past Friday at Madison (Wisconsin) Area Technical College.

He did comment on how that tax break should be a blessing to sales of the VOLT.

[Christopher Jordan]

Originally Posted by bennelson

Our government only encourages buying new stuff!

RATS! $7500. would buy a lot of City-ELs or Citi-cars and make a lot more people happier than buying built-in obsolescence.

[stryker16]

Originally Posted by bennelson

I only saw reference to "plug-in electric".

No mention of internal combustion engines at all.

I did talk to a GM representative (Rich Gunther
General Motors
Fleet Account Executive Government and Alt Energy guy)
this past Friday at Madison (Wisconsin) Area Technical College.

He did comment on how that tax break should be a blessing to sales of the VOLT.

Sounds like a GM bailout to me...but you don't see everyone complaining about that.

[RH77]

That's a lot of payola.

For one, plug-in hybrids are going to be rare, so the dealers will likely mark up the units and offset the credit.

I'd rather wait for the Prius plug-in instead of the Volt -- I just don't trust GM with new technology (I did that with the '90 Quad-4 and we know how that went).

For me, if there's a huge credit, which might offset the depreciation just enough to buy a new vehicle (providing sticker or lower can be negotiated), I'd seriously consider it.

Then again, who's paying for it? All of us US taxpayers. It's almost like we have to do it...

RH77

[cfg83]

bennelson -

Here's a thread on the same subject :

http://ecomodder.com/forum/showthrea...lout-5384.html

CarloSW2

[toyobug]

so basically in order to "re-coup" some of your tax $$ you have to buy a brand new ev?
Just another reason to favor the FairTax!

[jjackstone]

Probably will need that $7500 credit. Bob Lutz was on 60 Minutes last night talking about the cost of the Volt pushing towards $40K.
JJ