The federal tax credit is not a "rebate" like the $2500 California Clean Air Rebate or other County Clean Air Rebates like the $3000 San Joaquin County Clean Air Rebate. To claim the full Federal $7500 tax credit, you have to have a tax liability of $7500 or more (form 1040 line 63) prior to applying any payments or credits. Said another way, the amount shown on form 1040, line 63 is the amount of the $7500 credit you can claim for the tax year in which you purchased your vehicle. Second, the $2500 California Clean Air Rebate ran out of funds in June and is currently on hold pending receiving more funding. The timing of a decision to purchase needs to be carefully thought out. I too hope the buyout is negotiable as I plan to keep my 2015 Spark EV 2LT car when my lease is up in 2018.CSW said:My lease is up April of 2017 and I am already wondering what to do. I would like to buy it, but the price on the lease paperwork is $16k. Right now here in CA, you can BUY a new one for about $11k after all rebates (part of Chevy's 20% off sale). My Spark now has 33k miles on it. So what to do? I won't be able to lease another new one because they will not be available anymore in April 2017. I would buy it for around $8k bucks at the time I would think? But do lease companies negotiate the purchase price in the end? I would like a Bolt of course, but it will probably be too expensive.... and I like my Spark and would like to keep it, but I am not going to pay 2x as much as it is worth. It seems a smarter business decision for them to sell the car to me and be done with it for 8k. I guess we shall see.
TurboSoCal said:My lease is also up Spring 2017 and I would prefer to buy the car, but with a residual of $14k+ that would never happen. I will likely return and try and purchase a lease return from somewhere else for some ridiculously low price. I figure these cars will likely be nearly given away when all the lease returns start coming in.
CSW said:Meanwhile, here in Sacramento, the Ford dealer here is selling 4 Focus EVs for $9k. Under 30k miles. This is a car that stickered for $8-10k more than the spark ev when new......so the spark should sell for even less yes?
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