Quote:
Originally Posted by John-M007
Quote:
Originally Posted by allinon72
Quote:
Originally Posted by John-M007
Quote:
Originally Posted by J2045678
Quote:
Originally Posted by John-M007
Quote:
Originally Posted by allinon72
Quote:
Originally Posted by John-M007
Quote:
Originally Posted by allinon72
Quote:
Originally Posted by John-M007
BMW will NOT Pass the $7,500 Federal Tax Credits and Incentives for New All-Electric and Plug-in Hybrid Vehicles to the customers.
If you are planning to lease a new BMW iX, i4, X3 30e, X5 45e, 330e, and 530e BMW will NOT allow you to apply for the federal tax credits. Instead, BMW will apply for those credits and keep the money.
An average base Electric and Plug-in Hybrid BMW vehicles are about $4,000 to $10,000 dollars more expensive than your gasoline engines. The insurance for full electric vehicles is about 15% more expensive. The cost of installing home Level II chargers is an additional $3,000 to $5,000 dollars depending on your house and wiring. Therefore, the intent of government was to establish tax credits to encourage consumers to purchase and/or lease these vehicles to move towards the clean air goals and objectives.
With BMW withholding the $7,500 federal tax money from the consumers, it makes no business sense for the consumer to spend anywhere from $7,000 to $15,000 dollars more than they usually do to lease a BMW Electric and Plug-in Hybrid vehicles. If you are a CPA, tax and financial guy/lady, you will see that leasing a BMW Electric and Plug-in Hybrid is a major financial setback.
The only winner is the BMW who gets to fully profit from the sales of these vehicles and the tax credits. BMW does not even provide any attractive incentives towards these vehicles. This goes against what the intent of legislatures was to promote cleaner cars.
|
Source? |
Several BMW dealers. All said if you lease you will not get the tax credit. it is also on the BMW's website for the iX and i4. |
Oh, for leasing. Why would you be entitled to the $7500 for a lease? That doesn't make sense. The manufacturer (really the leasing company) holds the ultimate liability for the vehicle so they would be entitled to the tax credit. Why should you be eligible for a tax credit on a car you don't own? |
The $7,500 federal tax credit was established by the Legislatures to encourage people go green. The intent is for the consumers and not the manufacturers, as the manufacturers already receive their significant tax credits for each car they build. The tax credit is not a liability. It's a tax credit to assist people to offset the significant price of an electric car. BMW is taking away what was established and intended to be for the people. |
I hear you on intent, but I don't think this is specific to BMW if you lease vs buy. Some states may offer you a tax credit on a lease. |
The intent of the law was for the consumer as a form of incentive and balancing the excessive cost of electric vehicle. Most auto manufacturers pass the $7,500 federal tax credit to the client as a form of lower monthly payments. When a manufacturer takes the consumer credit away, then why would the consumer want to get an electric car? The government give both the manufacturers and the consumer the credit. BMW taking both it goes against the intent of the law and the good faith effort of the intent, taking advantage of the consumer, leaving consumers dry. There is a lot of moral and ethical issues with this. |
So purchase the vehicle instead of lease. On some models you can get $0 due at signing, assuming $800 monthly lease payment for 3 years, that's a total of $28,800. And you want a $7500 tax credit on top of that? That's not the intent of the program.
If BMW is keeping the money, that's on the lawmakers keeping a loophole open. |
The intent of the law was for the consumers. What you negotiate is seperate and independent from the intended tax credit. And your math is far off.
Nevertheless, this is about the law and the consumers. Don't change the topic or the direction with nonsense fillers. The manufacturers are already receiving their tax credit. There is no reason to take away the consumers. This is unethical. It says a lot about the company. My opinion. |
Translation - you want free money from the government for doing nothing. Hey, I get it, it's a very 2021 take.