Tax credit
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Fed tax credit is no longer available. But, GM is aggressively discounting more than the Fed credit was in the first place.
Check here for state and local incentives.
Also, Fed tax credit for EVSE install may apply again this year, it seems to be a hand-me-down toy to lawmakers, the credit comes and goes, sometimes retroactively.
If you are a Cosco member, they are apparently offering a 3K discount on top of GM incentives.
Check here for state and local incentives.
Also, Fed tax credit for EVSE install may apply again this year, it seems to be a hand-me-down toy to lawmakers, the credit comes and goes, sometimes retroactively.
If you are a Cosco member, they are apparently offering a 3K discount on top of GM incentives.
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1,326 Posts
There is a 30% federal tax credit for installing a home EVSE ("charger"). IRS form 8911 to be filed on your 2020 tax return.
There's no proof of this ... yet. I'm waiting for it in another thread, but I'm guessing it's not true.
Everybody gets the $8500 GM discount, but as far as additional dealer discounts, the best I've seen advertised is $4,000. But ... big surprise ... it's not real because you typically have to forfeit your trade in for a paltry $1500 to get it ... and who's gonna do that? Very few people. So, at best, it's a $2500 dealer discount - which, as dealer discounts go, is really weak on a $30,000+ MSRP. And so - if you walk into a dealership with the "Costco Discount", it's gonna end up being worth $500. That's it!
Or - they'll tell you, "OK, you can take the $3000 Costco Discount, but it's not 'stackable' with our dealer discount".
These people on here claiming they're getting $17,000+ off MSRP are full of you-know-what. Fake Posts! Think of it ... most dealers don't have any appreciable stock of Bolts. Why would they be giving them away ... especially early in the calendar year when dealers never give anything away! It's just bored salesmen in showrooms posting bogus stuff to try to get people into dealerships.
Yep. Federal tax credit on GM EV/PHEVs has been gone for awhile: Federal Tax Credits for Electric and Plug-in Hybrid Cars.
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1,326 Posts
I agree that 17K off MSRP is a stretch, but dealers want to clear out 2020 stock because the 2021's will be here soon. No one wants to buy a year old car for the same price as a new one....
Dealers might not have "appreciable stock" but they don't have an appreciable number of buyers either. So they have to discount them to move them.
Yes, PA has a rebate—
www.dep.pa.gov
Alternative Fuel Vehicles
www.dep.pa.gov
I received the following on my Bolt Purchase 3 days ago Sept 9 2020
Costco $3000
Dealer discount $2500
gm discount $8500
current gm leasee discount $1500 (I had a Volt for a 3 year lease)
All discounts were allowed and "stacked."
Total discount applied to my purchase $15,500
If this is true, then anybody should be able to get that extra $3,000 discount ... because Costco's probably just getting a nominal "finder's fee" for helping to facilitate new car purchases.
Let's see ... a "stripped" Bolt LT has an MSRP = $37,500, so a $5500 dealer discount ($2500+$3000) is at best a 14.5% discount. That's actually a typical GM new car discount for this time of year. Maybe for the very narrow window of time that this is available, and for the very narrow audience that it has, it actually is real?
Can you upload a copy of your Bill of Sale (making sure you block out your personal information and VIN#)?
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252 Posts
I got 5k off last month without costco but most dealers have been dialing it back by 3k so shrugs...
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252 Posts
ALso while the tax credit is gone. GM supplements with 8500 off and most dealers doing 2-5K off plus costco.
You can still claim the full MSRP tax if you pay it in your state, mine is about $3400 which I wont pay at tax time YMMV
You can still claim the full MSRP tax if you pay it in your state, mine is about $3400 which I wont pay at tax time YMMV
It only shows $13,000 in rebates because they don't consider the dealer discount of $2500 a rebate. The sale price of the car was reduced on the bill of sale by the $2500. Sticker price for the car was 39,980 the bill of sale shows $37,480.
It came with the dc fast charger, the comfort and convenience package, the metallic blue pain, the black bowties, and the driver confidence package.
OK, but if they took the $2500 off the MSRP to get to $37480, then you should've gotten $13000 off the $37,480. That's $24,480. Then you add in the $513 "dealer fee" and that's $24993.
Where's that $41,676.68 number coming from?
And what's the $5,000 on line G?? Is that your cash down payment to reduce the amount financed?
Hello, I purchased over Labor day weekend in Colorado and indeed received the GM $8500 plus Costco member $3000 and then I get $4000 for Colorado state tax rebate.
OK, but that's kind of "standard deal", right? You got the standard $8500 rebate from GM, and then you got an additional $3000 ... which is maybe $500 more than a standard dealer discount of $2500. The CO rebate doesn't count here because it's state-specific. We're trying to find proof that someone got the standard $8500, plus a dealer discount of between $0 and $3,000 (let's say), AND the COSTCO discount of $3,000 on top of the $8500+dealer discount.
So we're looking for some proof of at least $14,000 off an MSRP number on the Monroney sticker.
So ... for a brand new 2020 Bolt LT, ~$37,500 MSRP - $14,000 = $23,500. Or, for a 2020 Bolt Premier, ~$42,000 MSRP - $14,000 = $28,000
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252 Posts
Mine was 39,750 Monroney sticker (loaded LT)
OTD was 26,250 plus taxes and fees I dont have the pic anymore sadly but do have documents very close to 14k off an LT. I got 13500
Discounts were 8500 chevy, 5k Dealer ( before costco) = 13,500 discount + taxes and fees
After state rebates and grants 12k.
You can read about it here how both me and maniaxzero got $13500 each before costco deal existed...
Ok, but what was the dealer "fee", because that's part of the OTD number and effectively reduces his "dealer discount". I've seen fees as high as $800! But even if it's "only" $500, that makes it a $13,000 overall discount, or $4500 above the standard $8500 rebate.
$4500 is a good Bolt discount, though ... if it's real. I have yet to see any dealer discounts that high that didn't include several strings attached (like trade-ins at ridiculously low numbers that no one should agree to). But maybe the tide is starting to turn on the pricing of these Bolts?
On the other hand, a $4500 dealer discount on a $39750 MSRP is still "only" an 11.3% discount ... which is actually pretty weak (as GM dealer discounts historically go for this time of year, cost of building EV versus ICE not withstanding).
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Huh I'm confused? We had no "dealer fee" both maniazero and I same dealer and state. Our "Doc fee" is capped at $80 by law and is the cost of filing paperwork (so small we never really count that number XD ) Dealer fee must be legal in other states because in Cali never heard of them and my dad sold used for 30 years! Our doc fee has always historically be $55-$80 over the years when I wrote contracts for my dad..
Dealer fee comes out as doc fee on google so i'm assuming that is what you mean? Either way $0 dealer fee, $80 doc fee for an effective $5000 dealer discount if you ask me... for the full $13500 before state which made mine $12k+ 3400 taxes. Because $80 is such a small fee and is for filing DMV I would still say $13500 if you ask me. My dad did have to pay someone to stand in line and handle 50 cars a month so.
Mine was no strings NO bullshit. I had a tradein but sold my spark EV to carvana for $7100 If I still had the pic I would send it but...
On the dealersite it showed $26,250 everyone got the $8500 and everyone got a bolt discount $5k across the board on every single bolt no matter the color or options! Again no dealer fee... That deal is long gone because bolts were not moving. But I litterly went to the sales manager and I said, is this no bullshit cost minus taxes and doc fees. He said yes, my numbers matched to his when I talked to the sales staff and with HUGE down I financed the rest and collect the grants with some cash to spare.
The 41k number is the 39k price plus CA tax and license fees. State Tax is calculated from the original price before discounts and rebates.
Yes the 5k number is the down payment.
Any more questions??
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