$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 :

Chevy Volt and GM Get Big Boost From $700B Bailout Vote Today

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

[toyobug]

jjackstone- I saw that interview. It made me think, whats the point? When you can accomplish a project like the forkenswift, or ben's eletric metro for just a few thousand. Sure not everyone is as mechanically inclined as those guys. Seems that there could be a growing need for conversion shops.
I can't wait to see what Tesla's new 4 door sedan will look like for $60,000. With a 200 mile range that would seem like a better deal than the Volt.
If the big auto manufaturers take the lead in the EV world then prices will never be in the affordable range. Personally I think the independent developers will be what keeps prices affordable.

[captainslug]

Don't forget that there are OTHER plug-in electric vehicles out there. A $7,500 credit would make a Green EV Triac cost around $12,500.
The Triac: An Affordable Electric Car

Eligability and credit awarded seems to be based solely on vehicle weight and battery capacity.

Plug-in: "uses an offboard source of energy to recharge such battery"
Battery Requirement: ">4 kilowatt hours"
"has received a certificate of conformity under the Clean Air Act"

Allowable credit is then determined by vehicle weight.

[Doofus McFancypants]

put HUB motors on any new ICE car - include modest battary pack and plug in recharging capability and you have a plug in hybrid.

Depending on the side of the BAT pack - you could almost design the system to completely offset the rebate - selling a hybrid car for Net $0 compared to the standard ICE.

If i had my druthers ( and time - money - skills) i would take the Altima and add rear wheel hub motors + bat back for plug in hybrid. use ELE for sub 40 in town driving and leave the ICE for longer trps / higher speeds.

If someone is on the ball - they would work with a dealer and make this happen NOW - would be HUGE impact on amount of fuel burned.

steve

[jjackstone]

Here is a link to a couple write-ups about the credit. From what I see it is for plug-in [i]hybrid[i]vehicles. And of course one must have a minimum sized battery pack. I have seen both 4Kwh and 6Kwh listed as the min.
Hybrid Car Blog - Hybrid cars and plug-in hybrid vehicles news and info: $7,500 plug-in hybrid tax credit passes Senate - Too favorable to Volt?

JJ

[toyobug]

Doofus- I like the way you think. I'm sure there's someone on this forum right now thinking of how they could pull that idea off. I wish I could attempt it.
Extenuating circustances say no for me right now.

[Christopher Jordan]

Originally Posted by captainslug

Don't forget that there are OTHER plug-in electric vehicles out there. A $7,500 credit would make a Green EV Triac cost around $12,500..

I was beginning to wonder about those Triacs- but at the Palo Alto EV Rally I saw one. I like! Hope they make it, but Zap pretty much turned off a lot of people. Sad, but a Wired article was so "anti" Zap, I subscribed; so now I may see a more positive Triac test.

[Christopher Jordan]

WHOA! The Triac Microwatt is under $12K; minus $7500.? What is wrong with this picture?