TIFU my reservation

FASTNF

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What I did with my last EV since I didnt need the tax credit was to lease the car. The Leasing company then took the $7500 off the purchase price as they took the credit which lowered my lease payment. Then I applied for the grants. I received over $12,500. If you go this route make sure you understand the terms of the lease. I will probably follow this same approach when I lease a Mach E.





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DBC

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I will qualify for the California Clean Vehicle Rebate and know that I need to apply right after purchase. All the paperwork needs to be sent in within 14 days of applying and it's worth $2000 provided funds are still available. I'm relatively certain there's plenty of funds available.
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I just heard about $2500 off from Ford Credit and asked my dealer about it. I'm not counting on it because I don't know the terms and it sounds too good to be true. The salesman hadn't heard of it.
Some good news. You don't have to apply for the Clean Vehicle Rebate immediately after purchase. You have up to three months. Better to apply earlier because your application reserves your rebate from limited funds, but you can apply later. The 14 day requirement for documentation starts when you submit the application not when you purchase.

The second piece of good news is that if you go with Ford Options you will definitely get the $2500 incentive. It's built into the program. So when the finance person at the dealer selects Options it will list this incentive (as well as the $100 for the hands free cruise). If you choose another financing program and choose not to finance at all, you don't get the $2500 (which is why you want it even if you weren't intending on financing at all). Not surprising that the salesperson hadn't heard of it. Finance may not have either. But it will be there. Not a big issue for the dealer. The incentive comes from Ford so it doesn't lose anything.

Cheers!
 

ToddH

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For some reason my dealer thought I had to reserve my car all over again. So I have two identical MMEs coming. One is due the week after the other. Instead of $500, I've got $1000 already paid. Once from Dec. 2019 and the other from July 2020. Oddly enough, the one reserved in July 2020 appears to be the one that's arriving first. A friend is interested in buying the second one.
 

generaltso

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What I did with my last EV since I didnt need the tax credit was to lease the car. The Leasing company then took the $7500 off the purchase price as they took the credit which lowered my lease payment.
Are you aware that Ford doesn’t do that?
 

generaltso

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No I wasn't aware of that. I guess I will try and find a different leasing company to work with other than Ford.
You may want to look into Ford Options. It's structured like a lease, but since you're the owner, you can get the tax credit (if you qualify). It also comes with a $2500 discount on the car.
 

FASTNF

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You may want to look into Ford Options. It's structured like a lease, but since you're the owner, you can get the tax credit (if you qualify). It also comes with a $2500 discount on the car.
That is the problem. I have no use for another tax credit. I have enough tax credits from my current business that I rarely pay any taxes. So there is nothing to apply the credit to. So I need another legal way to take advantage of the tax credit.
 

Dafstang

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Right. The clean fuel rebate is the only rebate done at time of purchase so the dealer seems to say they are approved so the OP will get that, the others are done after the fact. As long as they take X-Plan etc. not sure what the issue is.
That is incorrect, For the clean fuel award in California the way it works is that the dealler subtracts the 1500 of the price of the car. they then send the paperwork in and then they get the rebate check sent to them. My dealer is helping me do this after the fact by redoing the paperwork. WHen they get the check they will issue one for me.
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generaltso

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That is the problem. I have no use for another tax credit. I have enough tax credits from my current business that I rarely pay any taxes. So there is nothing to apply the credit to. So I need another legal way to take advantage of the tax credit.
If you’re definitely going to return the car at the end of the lease, the lack of tax credit isn’t too bad with the RCL because most of it is built into the residual. But the money factor isn’t great.
 

VegStang

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Nope, what I said is that the rebate is at point of purchase, the other credits, etc are done by the customer afterwards. What you show is the same, nice they are letting you do it after the fact.

That is incorrect, For the clean fuel award in California the way it works is that the dealler subtracts the 1500 of the price of the car. they then send the paperwork in and then they get the rebate check sent to them. My dealer is helping me do this after the fact by redoing the paperwork. WHen they get the check they will issue one for me.
1613863612547.png
 

‘64 GTO

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I'm at about -
$1500 rebate for CA clean energy instant rebate (or whatever the new program is called)
$2600 incentives for "Ford Options"
$2000 California Rebate
$650 or so for Xplan
$500 Ford Customer Service credit that a rep gave me(dont ask me why I have no idea)
$7500 Fed Tax Rebate

Total-$14750- Not a bad haul!
My calculations are about the same...I figured Xplan at$ 1249. I didn't get the $500 cs credit but If I get the rest I am HAPPY!
 

Daraiders76

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My calculations are about the same...I figured Xplan at$ 1249. I didn't get the $500 cs credit but If I get the rest I am HAPPY!
Xplan is a little less. Everyone kept saying 2%-it’s way less. A bit more for First Edition but premium is like $650 only. Still good for a $25-35 investment.
 

DBC

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If you’re definitely going to return the car at the end of the lease, the lack of tax credit isn’t too bad with the RCL because most of it is built into the residual. But the money factor isn’t great.
The difference between RCL and Options over 36 months is $5000 if you can use the tax credit. So even if you can use only $2500 of the credit Options is probably a better deal because the buy out is lower. I know the assumption is that you don't intend to keep the car but one never knows, so a "free" alternative always works.
 

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