After my 31 year old subaru was showing signs of failing, I decided to look into EVs as a possible replacement. Today I bought a VW ID.4 Pro AWD to replace it, my first vehicle purchase ever (subie was a hand-me-down). It’s a bit large for my usual tastes, but it has an amazing turn radius, good visibility, it’s comfortable, and it drives great. I considered the Bolt EUV, but the DC fast charging would take twice as long and there was no AWD option… so I somehow talked myself into spending $15k more for this thing.

In Colorado there are a good number of rebates/credits going right now so I got a decent deal on it: -3k negotiating with dealer, -1k VW website offer, -6k vehicle exchange rebate (state’s cash for clunkers, applied at sale), -5.5k energy utility rebate (from Xcel, applied at sale), and possibly -7.5k for the fed non-refundable tax credit (will be received as tax refund next year) depending on my federal taxes. Also got a promotional 3.9% interest rate from the manufacturer.

  • RippleEffect@lemm.eeEnglish
    2·
    1 year ago

    As mentioned in your post, the federal tax credit is non-refundable. It will reduce your tax burden but if you get a refund, it will be due to other factors.

    • poofy_cat@lemm.eeOPEnglish
      1·
      1 year ago

      Yeah, I’ll owe about 5k fed tax and my W4 is set up so I usually pay/owe nothing come tax time… so I’d currently get about a 5k refund. I’m looking at ways to increase my federal taxes before EOY to squeeze more out of it.

      • RippleEffect@lemm.eeEnglish
        2·
        1 year ago

        I just don’t want you to be disappointed come tax time. It’s a surprisingly common misconception.

  • Dranadia@lemm.eeEnglish
    1·
    1 year ago

    Congrats! I was very close to buying this, but then got a very good deal on an Ioniq 5 instead. Hope you’ll be happy with it!