2024 Rules Change for Clean Vehicle Credit = Credit at Time of Sale

I have to believe people don't buy econo-box's anymore becuase they have figured out a 8 year old quality vehicle will still outlast a cheap econo box, hence no econo box demand?
There isn’t any evidence that econoboxes are less durable (or reliable) than cars costing $10-30k more. It becomes a matter of “I can afford a nicer car since I’m already buying a depreciated 8 yr old example.”
 
I’m not so sure we know this yet for the year 2024. The IRS will release the rules by the end of 2023.
There is speculation and I stress speculation that this point of sale $7500 rebate MAY be a multi year credit for those that do not qualify for the full $7500 the first year.
Make it up as they go, in full on banana republic fashion. :ROFLMAO:
 
No, not at all.
Currently you get to take $7500 off the federal income taxes that you owe for the year.

In 2024 you will be able to take $7500 off of the purchase price of the car and if you have no money at all, you will be able to use the $7500 as the down payment for the loan which is really the same thing as taking $7500 with the purchase price
My trouble is I can not make myself desire a total EV yet I would like to have a Hybrid which makes so much more sense to me as a transition. Reallly should have been pushed first for all of us to ease into that new world. Hybrids would also give the electric grid the experience and time to catch up to a move away from all ICE. It just feels like as usual ...... Anything , well EVERYTHING the government gets involved in goes off the tracks and is full of corruption ,incompetence and hurts someone somewhere. Cart before the horse by not spending years ahead working with the electric grid and power companies before jumping off the cliff.
 
I have to believe people don't buy econo-box's anymore becuase they have figured out a 8 year old quality vehicle will still outlast a cheap econo box, hence no econo box demand?
Hard to say--usually one can get better financing terms buying new. Might pay more but for a while it seemed that Mitsu and Nissan would give credit to anyone who could fog a mirror.

I get the point though, but I'd rather buy that quality car new, and then know that at 8 years of age it was taken care of. Buying it used at 8 yrs isn't always a great strategy, not for a Toyota fanboi like me (no depreciation), and in the rustbelt, something of a gamble. And by 8 years of age one is off the premium dealer lots onto the more shady lots it seems.

I'm in my 40's and only just able to drop $10k out of pocket on a used car. Average American can't afford a surprise $1k repair bill. I'm surprised that utter crapbox cars don't sell better for the crowd that needs the cheapest note per month.
 
Mirage and Versa are still under $20k, but that's true penalty box shopping. I've been eyeing the base Jetta S which is like $22k (add a grand for bogus delivery but you get the idea). Others have been pointing out that Mazda might have some stuff below $30k in the CUV market, and maybe Subaru too (although all theirs I think are large enough to be CUV now?).

I think my wife's hybrid Camry (if we were to buy now) would still slot under $30k, but just barely, and it almost moves out of the disposable category. Almost, I still don't think of it as a car one wants to own for a long time.

But yes, the small car category is basically dead, barring catastrophic economy changes. Even then, it might never come back, not if the major cost of the car is the battery and not the sheetmetal. "For just a bit more" one could get something more suited for our roadways, which is what is doing in the small car market.
Yeah, I feel the same way on the Mirage and the Versa. My wife had a new one back in 2008 and while it worked for our purposes and seemed well packaged, it was just boring. Back then it was absolutely loaded including keyless entry and that was $18k back then. I know it was her practical choice after driving a 240sx and a XR7 V8 Cougar previously and she just didn't enjoy driving it, so we bought an old Jag to replace it. 😂

I don't think I would be interested in a base Golf either even if it was offered. The GTI was so appealing to me especially in Autobahn trim because it's basically an Audi inside and has a great engine with great driving dynamics. That's a $40k hatch though. The Jetta S especially with the 6 speed is really interesting to me, especially as a long distance cruiser. To get that kind of fuel economy is stellar in any modern non hybrid. It feels less cheap too than some other options, but it does cost more than most of its rivals short of the Civic. I can't say on the Subaru really. I have a friend that has a newer Impreza based Outback and it feels a good bit bigger than my GTI, but I think it may mostly be in height. I'm not too familiar with their offerings because even when I would have considered a WRX or an STI I passed them up mostly because of highway fuel economy.
 
Mirage and Versa are still under $20k, but that's true penalty box shopping. I've been eyeing the base Jetta S which is like $22k (add a grand for bogus delivery but you get the idea). Others have been pointing out that Mazda might have some stuff below $30k in the CUV market, and maybe Subaru too (although all theirs I think are large enough to be CUV now?).

I think my wife's hybrid Camry (if we were to buy now) would still slot under $30k, but just barely, and it almost moves out of the disposable category. Almost, I still don't think of it as a car one wants to own for a long time.

But yes, the small car category is basically dead, barring catastrophic economy changes. Even then, it might never come back, not if the major cost of the car is the battery and not the sheetmetal. "For just a bit more" one could get something more suited for our roadways, which is what is doing in the small car market.
How do feel about the Camry? Like it or things you like/dont like? Surprises.....any?
 
My trouble is I can not make myself desire a total EV yet I would like to have a Hybrid which makes so much more sense to me as a transition. Reallly should have been pushed first for all of us to ease into that new world. Hybrids would also give the electric grid the experience and time to catch up to a move away from all ICE. It just feels like as usual ...... Anything , well EVERYTHING the government gets involved in goes off the tracks and is full of corruption ,incompetence and hurts someone somewhere. Cart before the horse by not spending years ahead working with the electric grid and power companies before jumping off the cliff.
Well, gov is a committee, and like all committees, it runs about as well as one (which is to say, dysfunctional).

I still think someone had to push things. Otherwise we'd still be driving cars with carbs, no cats, 12mpg and no seatbelts let alone airbags. Pretty sure electrification of the country was pushed by the gov and not out of the kind heartedness of the power companies. [Not sure if I want to mention gov backed mortgages, as that turned out as a true double edged sword.]
 
How do feel about the Camry? Like it or things you like/dont like? Surprises.....any?
I don't mind it, I try not to drive it, not when my daily is a '99 and a bit like comparing a computer to an etch-a-sketch.

IMO the engine is coarse and there is no mistaking when it fires up. Then again, it's so quiet and refined when on battery-only that anything will stick out--it is surely more quiet than my car. It's just that when it does kick on, that little jolt and little extra noise sticks out just that much more. Truth is, when we first got it, my mind was blown by the fact that we were talking in the car, driving--and I could hear wildlife outside of the car *with the windows closed*. Just that nice.

I think my '99 was a more quality product, ignoring the fact that it's falling apart now. The Hybrid is a sea of black for the interior, as we have the base cloth. I feel like I have a harder time getting in and out of it too, which is weird, they're both sedans. But once in, it's a car.

I have only glanced at how to do ATF and coolant exchanges on it, not liking it but I don't think it's that bad. Worse is the belly pan underneath, I had to remove most of it as it was a huge sand trap and dragging. Great for mpg, lousy in the snowbelt it seems. No idea how anyone who lives on a dirt road could manage to own one. I need to look now and see if I now have better access to lift points with those out of the way, that was my biggest gripe before: how the heck do I jack up and then let down on jack stands?

I'm not much of a car driver, do not drive other cars often, so I can't comment on the competition. Could I be happy commuting in one? sure thing. Is it anything more than your standard soulless commuter? I don't think so.

Oh: be careful in shopping, if you think of it. They have the Hybrid LE and then you go SE and up. The SE and up likes to add fatter tires which steal mpg. Why? I get it, some might prefer the extra handling. We sure didn't. I'd much rather have the mpg and the cheaper tires, thank you very much.
 
Yeah, I feel the same way on the Mirage and the Versa. My wife had a new one back in 2008 and while it worked for our purposes and seemed well packaged, it was just boring. Back then it was absolutely loaded including keyless entry and that was $18k back then. I know it was her practical choice after driving a 240sx and a XR7 V8 Cougar previously and she just didn't enjoy driving it, so we bought an old Jag to replace it. 😂

I don't think I would be interested in a base Golf either even if it was offered. The GTI was so appealing to me especially in Autobahn trim because it's basically an Audi inside and has a great engine with great driving dynamics. That's a $40k hatch though. The Jetta S especially with the 6 speed is really interesting to me, especially as a long distance cruiser. To get that kind of fuel economy is stellar in any modern non hybrid. It feels less cheap too than some other options, but it does cost more than most of its rivals short of the Civic. I can't say on the Subaru really. I have a friend that has a newer Impreza based Outback and it feels a good bit bigger than my GTI, but I think it may mostly be in height. I'm not too familiar with their offerings because even when I would have considered a WRX or an STI I passed them up mostly because of highway fuel economy.
Been looking at and thinking about another car and some of your comments - Had to put this in about mpg since I myself am pleasantly surprised with our 2018 Honda Accord.
I actually fell in love with the wife's GDI-T 1.5 Honda tiny sewing machine motor (diluter). I kind of have it under control by doing some little things I learned from Honda techs who own them. To be determined again once cold weather comes back. The thing runs so free and easy and fast on interstate and I had a top mpg one day with a half tank load of gas and showed 49.9mpg for part of a drive doing about 74mph in cruise. Will not purchase another Honda though after owning several over last 26 yrs. Likely will loook close at Hybrids next.
 
No, not at all.
Currently you get to take $7500 off the federal income taxes that you owe for the year.

In 2024 you will be able to take $7500 off of the purchase price of the car and if you have no money at all, you will be able to use the $7500 as the down payment for the loan which is really the same thing as taking $7500 off the purchase price to the buyer
Its the same thing - except for the timing.

If you have anywhere near decent credit you can finance 100% of the value. I don't see it as anything other than at best 12 months interest on the $7500.00.

However a good amount of people can't do math so they will think its much better than it really is.
 
The Jetta S especially with the 6 speed is really interesting to me, especially as a long distance cruiser. To get that kind of fuel economy is stellar in any modern non hybrid.
Yep. I live 54 miles from work, go in 2-3 days a week, and it's basically all highway. I used to live 50 miles from work and for the bulk of my career I had a TDI that just loved the highway and ticked off 46mpg over its lifetime. Wagon which these days I miss, but a 40 mpg commuter that I could rack up miles on? Wife's hybrid might beat it on mpg but even my wife sometimes misses shifting and having that much control over the car. Econobox or not, it can be enjoyable to tick through the gears... Tempted to buy one, might be the last chance at a stick I get.
 
Been looking at and thinking about another car and some of your comments - Had to put this in about mpg since I myself am pleasantly surprised with our 2018 Honda Accord.
I actually fell in love with the wife's GDI-T 1.5 Honda tiny sewing machine motor (diluter). I kind of have it under control by doing some little things I learned from Honda techs who own them. To be determined again once cold weather comes back. The thing runs so free and easy and fast on interstate and I had a top mpg one day with a half tank load of gas and showed 49.9mpg for part of a drive doing about 74mph in cruise. Will not purchase another Honda though after owning several over last 26 yrs. Likely will loook close at Hybrids next.
That's absolutely stellar economy.
 
Interesting and the taxpayers will take another hit. They can make it an even $10K and I still won't bite. The silver lining is there might be some good deals for people wanting a new ICE vehicle. The bad news, for some, is it will probably destroy the used EV market. I'm interested in seeing how this plays out.


Used ev cars are already terrible for resale value.
This will make it worse for sure.
They should be making it an even playing field, and all new vehicles get the money, or none do.

Picking out a select few to give an unfair advantage is being very prejudiced.
 
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Used ev cars are already terrible for resale value.
This will make it worse for sure.
They should b making it an even playing field, and all new vehicles get the money, or none do.

Picking out a select few to give an unfair advantage is being very prejudiced.
It sure looks like all used cars are up in price regardless of what it's powered by. I'm not sure what prices you're looking at.
 
Used ev cars are already terrible for resale value.
This will make it worse for sure.
They should b making it an even playing field, and all new vehicles get the money, or none do.

Picking out a select few to give an unfair advantage is being very prejudiced.
Are we not surprised the gov did not "gift" the ones they voided student loans for a free brand new EV!?
 
I mean if you look at average sales price, sure. You've got to remember that prior to 5 years ago if we're looking at Tesla which have an overwhelming grab of the market that they didn't make cars under $70k. They make $40k cars now so I don't know how that really translates to prices falling when we just have less expensive models that didn't exist before. If we have specific models before and afters I could see that being a meaningful test point. The market is adjusting across the board, but at least so far it doesn't seem to be enough yet to call vehicle prices reasonable. We're not yet in a discounted from MSRP range on new vehicles and I think until that happens we'll still be buying used cars for stupid prices.

Oh and as far as the cutting prices stuff, I don't understand how it's a bad thing. First the cars are too expensive to everybody, now we're worrying about it affecting used car prices. You can't have your cake and eat it too. Which one would you prefer? If you're a person that keeps a car long term then their price adjustments aren't going to affect as much in the end. I can buy the same car I did new for about $9k less now. I'm tempted to do so.
 
Once people take off the rose colored glasses and realize your 5 year old ev may be only 3-5 years from needing a 20K+ battery you will have to pay someone to recycle it.
Got any data on that? Love to see it...
As the legendary engineer W. Edwards Deming put it, “Without data, you’re just another person with an opinion.”

Anyway, the battery is covered by warranty, so there's that. I did ask before plunking down my hard earned cash...
Regardless, no worries; I'm considering getting the Model 3 Highland and will likely give our Model 3 to a family member.
All good.
 
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