Bolt "Fire Sale!"

[TheLondonBroiler]

Well it happened, I just bought a 2019 Bolt Premier. $33,600 out the door (including SC sales tax) BEFORE the federal tax rebate. I read someone mentioning a "fire sale" on Bolts, in the comments on YouTube, so for shirts and giggles I checked out autotrader. Criswell Chevy in Gaithersburg, MD, had 22 bolts in stock, with many priced to move (LTs starting at $29k & change).

I can't get a capacity readout on torque pro, but I can get SOC, and at 50.6% SOC (via Torque Pro), the car's energy usage screen read that it had used 31.1 kwh..... I'LL TAKE IT!

If you can take advantage of tax credits, and you want a Bolt, now is probably the time to buy. I really didn't want to spend the money, but I didn't want to miss out.

Now I get to finish my 400+ mile drive

[NORTON]

Dang,
What a deal!!!!
Congrats!
Now you got me interested!

But I can't buy a new car without some new tech.

After I recently bought a used '11 Prius Level 5 with the expensive Advanced Technology Package, I am not buying another car without similar tech.
It has a great Adaptive Cruise, Emer Braking, a 'Lane Keep Assist' that 'tries' (a 9 yr old Autopilot system !) and it's supposed to parallel park and back into regular parking spots. I haven't played with those yet . She drives it.
It's the household fuel hog.
We drive together in the Spark EV as much as possible.

Come on GM,,,, other EV manufacturers are offering this tech. I'm not buying a Bolt unless it has at least Adaptive Cruise Control.
It's available on the Volt.

[TheLondonBroiler]

No adaptive cruise control is a bummer. It's strange that even with the Driver Confidence Package, which can pick up vehicles in front, that ACC isn't a feature. Oh well.

Done 550 miles so far in two days Enjoying it.

I was hoping on a buying a ~$20,000 lease trade early next year (which would likely have been an LT), but with as much driving as I do, when the opportunity for a brand new Premier for $33,600, plus as much of the federal tax credit as I can take advantage of, I couldn't resist.

A Spark vs Bolt thread and/or video might happen, before Sparky finds a new owner.

[SparkE]

...as much of the federal tax credit as I can take advantage of...

You should talk with an accountant and/or tax specialist. You simply have to create income this year (in Dec, and hope that the laws don't change in the next 3 months).

Easiest is to create a Roth IRA (money goes in tax-neutral, comes out tax free) and move enough money into it from a trad IRA or 401k. (money goes in tax free but is taxed when taken out), You move enough money to generate a total tax bill of $7600 - so you are basically moving money OUT of taxiable INTO tax-free, paid for by the acquisition of a Bolt.

Or you could sell some stock to generate long term cap gains.

[SparkE]

Just to be really, really, really clear here.

There will be NO penalties AT ALL if you do it right. Do NOT take an early distribution. ROLL OVER the money (directly from trad IRA or 401k into a Roth IRA - you never touch it). If you do that, no penalty (just the taxes owed, which is what you are trying to do anyways).

To re-emphasize, and underline, and insist - do NOT get a check made out to you, transfer it directly from one retirement account to another. "roll over" are the magic words - you avoid early takeout penalties that way (you are "rolling over" into a different type of retirement account, which you also can't touch until you are 59.5 years old).

[SparkE]

Well, OK, different point here, but I have been pounding the idea into my kid's heads that a Roth IRA is great (as part of a retirement strategy). They are at the early part of their careers and don't make THAT much money, so they don't gain THAT much by being able to deduct the trad IRA from income (neither one has an employer that offers 401k with matching, which is HUGE - I took advantage of that back in the day). The beauty of a Roth is that you can consider it as an emergency savings account - there are no penalties (with conditions) for taking out the contributions at a later date. The contributions. So, if you manage to put aside $3000 a year into a Roth, you can use that as a "f*ck, the sh*t hit the fan, I need $5000 NOW fund). Of course, I also emphasize that the Roth is the LAST place they pull money from, but it has still encouraged them to save quite a bit for their retirement over the past 5-7 years.

Don't believe me, go talk to a professional about all this.

[TheLondonBroiler]

Turns out this thread title is extremely ironic.... assuming you don't own a Bolt.... especially one that has actually caught on fire, you might actually find this funny.

[ZNuts]

There are couple of 2017 Bolt around here for $16k, no sales tax on EV.

had I seen that a few month sooner I might have gone for it. Don't get me wrong, I love my 2016 Spark EV I bought back in August but a Bolt I can keep for the next decade. I drove the Bolt we have at work and find it very functional. Sure, it's not a model 3 but one don't pay the Tesla premium either.