Bought a 2017 Bolt EV

[JSH]

Originally Posted by ME_Andy

We are enjoying our 2024 Bolt a lot, in fact thinking about buying a second one. Thanks for the HVAC info. Are you excited about the new Bolt announcement?

It really doesn't affect me much. Within 2 years we plan to sell our house, possessions, and cars and start travelling full time. Maybe after 5 - 10 years we will get tired of that but I can't really see being retired and stationary.

Originally Posted by ME_Andy

I think GM ought to stop announcing more models and get on with production.

The Blazer EV and Equinox EV have started production. It will be interesting to see how quickly they ramp up. The latest news out of Mexico is that they were making the Blazers at a rate of 65 per hour.

[JSH]

A few updates.

July stats: 1095 miles and 4.5 miles / kWh

I switched back to summer tires on 20-July because the tread on the winter tires hit the wear bars. Mileage dropped from the 4.8 mile/kWh I had been seeing with the winter tires to 4.0 miles / kWh with the Michelin performance summer tires.


I bought a 220V circuit splitter so I can share the dedicated circuit that goes to my dryer with my Level 2 charger

A few months back I replaced my gas hot water heater with a 220V heat pump water heater. That required me to disconnect my WallBox Level 2 charger and go back to the 110V charger that came with the car as my 200 amp box has 195 amps of breakers. That wasn't a problem while I had free DC charging at work but about a month ago my employer decided to put a paywall on our DC chargers. It is a reasonable $0.15 per kWh but charging while I sleep is still a lot less hassle than taking the car to charge and then remembering to go move it 90 minutes later. A Level 2 charger at home also gives me more options to use the car on the weekends as I can fully charge it in about 10 hours instead of 44 hours on Level

So I bought a NeoCharge 220V splitter. It was $300 so a LOT cheaper than adding another breaker box and service to my home. Dryer plugs into one side and the charger into the other. The dryer is primary so if the car is charging when the dryer starts the splitter cuts power to EV until the dryer cycle is finished and then switches back. It also has a handy app to show kWh usage for each device. So far it works well

Which brings me to my last topic. I'm going to switch from a flat electrical rate to time-of-use billing. PGE charges $0.135 per kWh on the basic flat rate. Time of use is $0.0743 off peak (9pm - 7am), $0.119 mid-peak (7am - 5pm), and $0.328 on-peak (5pm - 9pm) PGE says I would save about 5% on time-of-use billing based on the last 12 months. However, about 1/3 of my electrical use is charging the car and I have been charging on-peak, just plugging in when I get home. Shifting that 3000 kWh from flat rate to off-peak will save about $180 a year alone.

[Piotrsko]

195 amps worth of breakers doesn't imply the 200 amp box is near capacity. Your 200 amp box simply means that's the most it will provide before probably the main breakers open. If you total up all the breakers in my 70 year old box, it is double the 100 amp rating but the probability of drawing 100 amps at one time is miniscule since the stove, water heater, HVAC, dryer only total up to 75 amps. That gives me the availability of 25 + amps for surge on start.

Oddly, here in Reno it is space for breakers that determines whether or not you can expand. Most everyone adds a sub box and moves a pair of breakers to that

[redpoint5]

I've got a lot of double breakers in my full 200 A panel.

If I need another 240v circuit for car charging, I'll convert the dryer circuit.

[Isaac Zachary]

I've been trying to figure out how to lease a Bolt to get the $7,500 federal tax credit without having to owe $7,500.

Supposedly there are leases for $299 per month, although I can't seem to be able to find any. Most are over $400 and up.

https://gmauthority.com/blog/2023/02...e%20available.

But at $299 per month for 36 months with a required $5,239 down payment, the total for leasing is $16,003, and to purchase would be that plus the residual value. From what I read on Google, GM puts the residual value at around 60%. If it is 60% that puts the residual value of a base model $27,495 Bolt at $16,497 for a total lease to purchase price of $32,500, which is more than the MSRP of that same vehicle without even including the tax credit!

If we take a $27,495 Bolt and took off $7,500 from the price it becomes $19,995: THAT'S $12,505 CHEAPER!

Even if a person didn't qualify for any of the $7,500 tax credit, they'd still be better off just purchasing the vehicle instead of leasing to buy as the difference would be $5,005. Of course that doesnt' include any interest, but unless they expect to pay more than $5,005 in interest and can swallow a $16,497 balloon payment at the end of the lease, leasing seems like a terrible deal.

Am I missing something??? It seems I must be way off, but I can't find what I'm doing wrong? If the resale value were more like $5,000 then leasing and buying would make more sense. What am I doing wrong?

[redpoint5]

I've proposed the 2 ways you might take advantage of a non-refundable (must have tax liability), non-carriable(must use in that tax year) subsidy:

1. Convert enough IRA funds to a Roth that your tax liability increases up to the amount covered by the credit.

2. Have someone with enough tax liability purchase the vehicle on your behalf.

*one could also increase taxable income

[Isaac Zachary]

Originally Posted by redpoint5

I've proposed the 2 ways you might take advantage of a non-refundable (must have tax liability), non-carriable(must use in that tax year) subsidy:

1. Convert enough IRA funds to a Roth that your tax liability increases up to the amount covered by the credit.

2. Have someone with enough tax liability purchase the vehicle on your behalf.

*one could also increase taxable income

Yes, but I've never had an IRA.

Those that I know who could do #2, I'm not comfortable asking them to buy a car for me.

I could work two full time jobs I guess, which might bring my tax liability up high enough, although I should have started that back in January as I won't have enough time for this year.

With the Colorado $5,000 incentive a Chevy Bolt could be around $15,000 after all incentives. But next year Chevy Bolt production is being cut.

[redpoint5]

I know news is suspect, but recently there was mention of UPS drivers earning a combined $170k in pay and benefits. I believe our trash collectors make a good wage, too.

Having high tax liability isn't all it's cracked up to be. I work so I can afford to pay a nanny, so I can work, and pay taxes. I consider even doctors and lawyers to be playing in the same sucker's game.

Over half of households pay zero federal income tax, which seems to be a smart move, and encouraged by our tax law.

The only ones really getting out ahead are those who don't take a salary, but instead take a stake in something valued on Wall Street.

[Isaac Zachary]

Originally Posted by redpoint5

I know news is suspect, but recently there was mention of UPS drivers earning a combined $170k in pay and benefits. I believe our trash collectors make a good wage, too.

Having high tax liability isn't all it's cracked up to be. I work so I can afford to pay a nanny, so I can work, and pay taxes. I consider even doctors and lawyers to be playing in the same sucker's game.

Over half of households pay zero federal income tax, which seems to be a smart move, and encouraged by our tax law.

The only ones really getting out ahead are those who don't take a salary, but instead take a stake in something valued on Wall Street.

What used to be the only trash company, WM, has good benefits and ok salaries from what I hear, about $20 starting IIRC. But then a while back another trash company, Golden, came and undercut all their bids. But they hire at $15 and hour and without benefits. So the good paying trash company doesn't hardly seek workers and may one day end up going out-of-business here, whereas the other is always hiring.

[JSH]

Originally Posted by Isaac Zachary

I've been trying to figure out how to lease a Bolt to get the $7,500 federal tax credit without having to owe $7,500.

Supposedly there are leases for $299 per month, although I can't seem to be able to find any. Most are over $400 and up.

.............<snip>.............

Am I missing something??? It seems I must be way off, but I can't find what I'm doing wrong? If the resale value were more like $5,000 then leasing and buying would make more sense. What am I doing wrong?

You are trying to find a deal on a vehicle in high demand with a waiting list.

The latest numbers for the Bolt say GM has a 23 day supply (and that number includes vehicles in transit). If you go to Car Guru and do a nationwide search for the Bolt you will find 676 being advertised (an average of 13 per US state) but most of those aren't actually on the lot. One of my wife's co-workers recently bought a Bolt - he waited 4 months and paid $2000 over MSRP.

You find attractive lease deals when companies have too many cars sitting on the lot not when they sell every one before it hits the lot.

For example search for a Hyundai Ioniq 5 and you will find 5400 listed for sale and those listings have actual pictures of the car not "coming soon". Hyundaiis offering an Ioniq 5 for $430 a month for 48 months with $2,000 down

Or there is this Ioniq 5 AWD SE (a $50,000 car) for $311 a month, 12,000 miles a year, for 36 months and $4,443.80 down. (really $424 a month when you include the down payment). Why is this $50,000 car leasing for $424 a month when the $28,000 Bolt in your example is leasing for $444? Hyundai has over 100 days of Ioniq 5 inventory so they are willing to make a deal to move them.