Dusty

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Russ
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There's a Fed rebate for EV hybrids? If this option is $6k and you can commute 30 miles one way, recharge, then 30 miles back, how long would it take to make that 'investment' pay off? 60 miles with my 2.0T would cost about $6.00 in dino fuel. I know there's a lot of excitement over this, so what am I missing?





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scramboleer

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There's a Fed rebate for EV hybrids? If this option is $6k and you can commute 30 miles one way, recharge, then 30 miles back, how long would it take to make that 'investment' pay off? 60 miles with my 2.0T would cost about $6.00 in dino fuel. I know there's a lot of excitement over this, so what am I missing?
To me, it's all about the performance of an EV - the smooth, instant torque of an electric motor can't be beat. I do love motors; as our Willys Wagon has a carb on its 230 OHC six, and our Scrambler has a fuel-injected V8 swapped in. There is a time and place for valves, gears, and camshafts, but the performance of EV is tough to beat. Yes, the economics and environmental benefits are there too, but those are secondary to the performance.

When I think of a plug-in hybrid Jeep, I don't think of a Toyota Prius which has a small electric motor (and comes in regular/non-plug hybrid as well as plug-in hybrid flavors) which the whole package is like driving a contraption powered by a rubber band. I instead, I think of a Jeep with a big electric motor with more than enough torque to spin the tires (maybe not aftermarket sizes) and then the gasoline engine kicks in as needed. Both generations of the Chevy Volt were like this.

This week, the family and I are heading out on the road for a 300 mile trip, the last 10 of which are unmaintained dirt/gravel/clay road with one stream crossing. A plug-in hybrid is great for that, especially one with a "EV later" button on the dash where you can save the juice in the battery for off-road.
 

KSpider

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There's a Fed rebate for EV hybrids? If this option is $6k and you can commute 30 miles one way, recharge, then 30 miles back, how long would it take to make that 'investment' pay off? 60 miles with my 2.0T would cost about $6.00 in dino fuel. I know there's a lot of excitement over this, so what am I missing?
If it costs 6K more, the $7500 fed rebate takes care of that before you even have to worry about your gas savings.
 

Dusty

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I thought it was funny to see that financial incentive list with Ferrari and Spyker on there. "Save money! Go EV! Buy a Ferrari EV! Yes, there's a rebate for that one too, folks, thanks to Uncle Sam!"
 
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I'm intrigued with the tax credit alone. Say I'm getting a 4k back in taxes does that mean I have the potential to get $11,500 back or is it only if you owe taxes? I thought I read it that way from a post here on the forum.
 

Jehovasfitness

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I'm intrigued with the tax credit alone. Say I'm getting a 4k back in taxes does that mean I have the potential to get $11,500 back or is it only if you owe taxes? I thought I read it that way from a post here on the forum.
Yes. Tax credits work that way. If it was a tax deduction, then no you would not get money back it would 0 out.
 

KSpider

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I'm intrigued with the tax credit alone. Say I'm getting a 4k back in taxes does that mean I have the potential to get $11,500 back or is it only if you owe taxes? I thought I read it that way from a post here on the forum.
So the way it works is, you need to have at least a $7,500 tax liability in the year you purchase the vehicle (AFTER deductions). This is not what you OWE, but your liability. Lets say you have a fed tax liability of $14,000, but you prepaid (deducted from your paychecks) $16,000 already. Normally you would get a $2,000 refund. If you purchase a car with the $7,500 fed credit, then it would reduce your liability by $7,500 making it $6,500. Since you prepaid 16,000 already, you would get the difference of $9,500 back.
 

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