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  TOV News > Clarity Electric still available for $199/month lease, but down payment has increased $600 > > Re: .. and after tax credits and rebates

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TonyEX
Profile for TonyEX
.. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-10-2018 15:31
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.. the car is free.

Cost is $7K in payments, plus another $2K or so upfront in fees. So that's $9K.

California gives me a $2500 tax free rebate, then the Feds give me a $7500 tax credit. That is $10K. So the car is pretty much paid off in the first year.

It gets HOV access.

I wonder how much would it cost me to drop a 240V line into the garage. It's already in the attic. I figure about $500 including permit/inspection from the City.

JeffX
Profile for JeffX
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-10-2018 17:30
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TonyEX wrote:
.. the car is free.

Cost is $7K in payments, plus another $2K or so upfront in fees. So that's $9K.

California gives me a $2500 tax free rebate, then the Feds give me a $7500 tax credit. That is $10K. So the car is pretty much paid off in the first year.

It gets HOV access.

I wonder how much would it cost me to drop a 240V line into the garage. It's already in the attic. I figure about $500 including permit/inspection from the City.



I don't think so. $7500 fed credit only comes if you buy it. Honda gets it, and probably rolls it in as a capital cost reduction. That's how you get to these lower monthly figures.

TonyEX
Profile for TonyEX
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-11-2018 01:37
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JeffX wrote:
TonyEX wrote:
.. the car is free.

Cost is $7K in payments, plus another $2K or so upfront in fees. So that's $9K.

California gives me a $2500 tax free rebate, then the Feds give me a $7500 tax credit. That is $10K. So the car is pretty much paid off in the first year.

It gets HOV access.

I wonder how much would it cost me to drop a 240V line into the garage. It's already in the attic. I figure about $500 including permit/inspection from the City.



I don't think so. $7500 fed credit only comes if you buy it. Honda gets it, and probably rolls it in as a capital cost reduction. That's how you get to these lower monthly figures.



No, I do believe the lease also qualifies for the Federal Tax credit. I had a long conversation with the dealer and my tax lady.

The California rebate kicks in whether you lease it or buy it.

In the Open Market, with the transaction done at a franchised dealer.

The Associate Lease, however, does not qualify. But then the fucking IRS kicks in with their "imputed income" and they really screw you.




JeffX
Profile for JeffX
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-11-2018 08:57
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TonyEX wrote:
JeffX wrote:
TonyEX wrote:
.. the car is free.

Cost is $7K in payments, plus another $2K or so upfront in fees. So that's $9K.

California gives me a $2500 tax free rebate, then the Feds give me a $7500 tax credit. That is $10K. So the car is pretty much paid off in the first year.

It gets HOV access.

I wonder how much would it cost me to drop a 240V line into the garage. It's already in the attic. I figure about $500 including permit/inspection from the City.



I don't think so. $7500 fed credit only comes if you buy it. Honda gets it, and probably rolls it in as a capital cost reduction. That's how you get to these lower monthly figures.



No, I do believe the lease also qualifies for the Federal Tax credit. I had a long conversation with the dealer and my tax lady.

The California rebate kicks in whether you lease it or buy it.

In the Open Market, with the transaction done at a franchised dealer.

The Associate Lease, however, does not qualify. But then the fucking IRS kicks in with their "imputed income" and they really screw you.






On the retail lease, there is a $7500 tax credit applied (in the form of capital cost reduction). The lessee is not eligible to claim the credit on their personal tax return. The OWNER of the vehicle (finance company) is the one that receives the credit. So in this case, American Honda gets the credit and rolls it into the offered lease, which is a key reason why you can lease a $~40k car for $199/month.

Goatt
Profile for Goatt
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-11-2018 13:55
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not sure if the law has been changed but one of my buddies leased a fiat 500e awhile ago and got the tax credit at the end of the year which made his entire lease free.
IankHonda
Profile for IankHonda
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-11-2018 15:24
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I am sorry, but they are right. The federal tax credit goes to Honda. (I am in sales at a Honda dealership) And currently the Clarity electric is only available in a lease, you can not purchase it outright, no buy option at the end of the lease either, you have to give it back to Honda. (at least it is a 20k mile a year lease...the kicker is that the bumper to bumper warranty does not extend to the 60k miles....it is still 36k miles.)
Honda-D
Profile for Honda-D
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-11-2018 16:13
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$200/mth lease with a range extender, I wish this is the same outside of California.

That's the price of a mildly loaded Civic.

TonyEX
Profile for TonyEX
Re: .. and after tax credits and rebates [View News Item]    (Score: 1, Normal) 05-13-2018 14:41
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IankHonda wrote:
I am sorry, but they are right. The federal tax credit goes to Honda. (I am in sales at a Honda dealership) And currently the Clarity electric is only available in a lease, you can not purchase it outright, no buy option at the end of the lease either, you have to give it back to Honda. (at least it is a 20k mile a year lease...the kicker is that the bumper to bumper warranty does not extend to the 60k miles....it is still 36k miles.)


But at least you get the $2500 rebate (tax free) in Calimexistan.


 
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