Has anyone negotiated 2022 Bolt below MSRP?

Through a car buying service they were able to negotiate only $1000 over msrp for me which was 6-9k. Less than all the dealers I called on my own just to check. I got the 2022 euv august 31, 2022. Also when I bought the bolt I got 6300 off the top for cash purchase and 750 california rebate of some sort. I used outside financing so it counted as Cash sale to the dealership. All in all the $7000 off the top covered the taxes and the fees off my premium edition sun and sound package euv. I’m only two weeks into driving it and I’ve put 2000 miles on it, I’ve had the transmission issue warning pop up took it into the dealership and they’ve done all they can and ordered the module but the issue is gone for now. I’m loving this car and glad I pulled the trigger on mine.

 

It got a new battery but was built in November of 21 I believe, I’m sorry there’s no incentives there in Florida. I was thinking of waiting for the 2023 but the wait just wasn’t worth it for me. Good luck and enjoy the Bolt euv when you get it!

 

This illustrates the conundrum facing legacy car makers hoping to sell EVs - their dealerships actively discouraged sales.

It's a parasitic business model that deserves a quiet burial in an unmarked grave.

Good riddance.

 

That is not my understanding. Can you provide a link to a government source like the IRS that states the tax credit if refundable?

Since you are part of the media, try calling the IRS at their media phone number 202-317-4000

 

The IRA EV provisions direct refunds to *qualified buyers* on *qualified vehicles* that may be applied directly against the purchase of new EV.

https://www.insideevsforum.com/community/index.php?threads/is-now-the-right-time-to-buy.14603/page-2#post-182843

 

It is still non-refundable if the Clean Vehicle Credit is under Part IV Subpart B subsection 30D. Subpart C is for refundable credits.

 

For clarification - this distinction has a time stamp.

Before January , 2023 the old rules (including manufacturers production caps) apply. GM has *no qualifying vehicles* under the old rules.

"(1) after December 31, 2021, and before the date of enactment of this Act [Aug. 16, 2022], purchased, or entered into a written binding contract to purchase, a new qualified plug-in electric drive motor vehicle (as defined in section 30D(d)(1) of the Internal Revenue Code of 1986, as in effect on the day before the date of enactment of this Act), and

"(2) placed such vehicle in service on or after the date of enactment of this Act, such taxpayer may elect (at such time, and in such form and manner, as the Secretary of the Treasury, or the Secretary's delegate, may prescribe) to treat such vehicle as having been placed in service on the day before the date of enactment of this Act."

The status of GM products - purchased before the 1st of January, 2023 is *excluded* from Federal tax incentives.

 

GM started the phaseout back in Q2 2019 (200,000+ by end of 2018) and if you were lucky enough to cash in on the 2021 Bolt this summer, the rebates and discounts were up to $19,650 before any state tax rebates!

 

That not a refundable tax credit. All that happening here is that you don't have wait until the end of the year to get your money for overpaying. Nor do you have to reduced your withholding to get the refund dribble out over the tax year. You still must own enough taxes to use up the credit.

A refundable tax credit refunds money even if you don't own any taxes.

https://www.investopedia.com/terms/r/refundablecredit.asp

 

INCORRECT

"Consumers that purchase a qualifying electric vehicle can continue to claim the electric vehicle tax credit on their annual tax filing. Starting in 2024, the Inflation Reduction Act establishes a mechanism that will allow car buyers to transfer the credit to dealers at the point of sale so that it can directly reduce the purchase price."

https://www.google.com/url?q=https://home.treasury.gov/system/files/136/EV-Tax-Credit-FAQs.pdf&sa=U&ved=2ahUKEwj-5dz43Jb6AhVHBzQIHdxVA_wQFnoECAkQAg&usg=AOvVaw1pCRUqfINUjeHii1MwN6Nv

 

Did you read the definition of a refundable tax credit?

You still need to own taxes in the amount of the credit you are claiming to claim the tax credit in the Inflation Reduction Act.

Nothing changed in the tax code 30D paragraph a.


All the Inflation Reduction Act does is advance the credit to the point of sale. It's not a refundable tax credit. You still must own taxes in the amount of the credit or more.

 

HR 5376 never mentions 30D(a). As such, the bill doesn't change the wording "Qualified plug-in electric drive motor vehicle" to "Clean vehicle" in that section. They missed it.

 

You have repeatedly made this claim.
I quoted the text of the IRA directly.

Where does the text of the act say "You must ow(e) taxes in the amount of the credit or more."

Have fun storming the castle.

 

§6401. Amounts treated as overpayments
(a) Assessment and collection after limitation period.
The term "overpayment" includes that part of the amount of the payment of any internal revenue tax which is assessed or collected after the expiration of the period of limitation properly applicable thereto.

(b) Excessive credits
(1) In general
If the amount allowable as credits under subpart C of part IV of subchapter A of chapter 1 (relating to refundable credits) exceeds the tax imposed by subtitle A (reduced by the credits allowable under subparts A, B, D, and G of such part IV), the amount of such excess shall be considered an overpayment.

(2) Special rule for credit under section 33
For purposes of paragraph (1), any credit allowed under section 33 (relating to withholding of tax on nonresident aliens and on foreign corporations) for any taxable year shall be treated as a credit allowable under subpart C of part IV of subchapter A of chapter 1 only if an election under subsection (g) or (h) of section 6013 is in effect for such taxable year. The preceding sentence shall not apply to any credit so allowed by reason of section 1446.

(c) Rule where no tax liability
An amount paid as tax shall not be considered not to constitute an overpayment solely by reason of the fact that there was no tax liability in respect of which such amount was paid.

Again the Clean vehicle credit is under Part IV subpart B subsection 30D and not subpart C.