$7500 Tax Credit Buyer Beware - Chevy Volt Forum - Forums and Owners Club!
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  #1  
Old 05-22-2013, 11:17 AM
WYVOLT WYVOLT is offline
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Default $7500 Tax Credit Buyer Beware

       
Make sure your sales person doesn't LIE to you when talking about this subject. The $7500 Tax Credit is exactly that. Not an automatic Tax Refund of $7500 but a Credit. What that means is you have to owe $7500 in taxes before you receive up $7500 in credit.
   
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Old 05-30-2013, 10:20 PM
jljeeper jljeeper is offline
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That's why every add says to talk to a tax professional. If you don't have 7500 in tax liability you may be better to lease because the lease company gets the tax break and passes that savings to you in the form of a low lease. I have heard of $260-$300/mo lease prices. Some can save enough in gas to pay their lease
   
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Old 05-31-2013, 04:53 PM
WYVOLT WYVOLT is offline
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That doesn't fix the salesperson saying the price will drop by $7500 not even including the state tax drop.
   
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Old 05-31-2013, 05:18 PM
jljeeper jljeeper is offline
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So did you buy a Volt thinking you would get the full $7500 back?

Most people have to pay some federal tax. What ever amount you do pay you will get back "up to $7500" so even people who paid 2000-3000 will get back that amount. You just have to look at your 1040 from last year to see what you paid.

It is spelled out pretty clear (front and center) on the Chevrolet Volt website. I make it a point not to believe everything a salesman says and would not make a purchase based on information a salesman said. Most people that can afford a $40,000 car will qualify for the full or partial tax credit.


http://www.chevrolet.com/volt-electr...electric%20car

MSRP*1 as low as $31,645


Price after tax savings. Net price shown includes the full $7,500 tax credit*1. $39,145 MSRP*1,2 with federal tax savings from $0 up to $7,500.

1. Each individual's tax situation is unique. Consult your tax professional prior to claiming any credits to confirm the vehicle tax benefits for which you may be eligible. Must be applied by the owner after the purchase of a new Chevrolet Volt.

2. Available for purchase only. $0-$7,500 depending on your federal tax liability.
   
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Old 05-31-2013, 05:23 PM
WYVOLT WYVOLT is offline
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So don't trust or believe in your Chevy Dealership Sales People. Got it!!

Just curious on which dealership you work for or if you are the PR rep for the GM Volt society?
   
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Old 05-31-2013, 08:49 PM
jljeeper jljeeper is offline
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Quote:
Originally Posted by WYVOLT View Post
So don't trust or believe in your Chevy Dealership Sales People. Got it!!

Just curious on which dealership you work for or if you are the PR rep for the GM Volt society?
Hey wyvolt

You start your thread saying "Make sure your sales person doesn't LIE to you" and then you give me grief when I say the same thing.
When it come to salesmen it is "trust but verify" I'm sorry but its true there are a lot of salesmen saying a lot of "stuff" some accurate some not to get you to buy. No not all but enough to fact check the information yourself. This is especially true with a complex car like the Volt. Many buyers know more than the salesmen.

As far as PR. I just happen to be a very happy owner of a Volt and am more than happy to promote something I believe in. Something that I "put my money where my mouth is" so to speak. I did lots of research over many months before I made my decision to buy. I was still nervous over the new technology and in the past worked for several years as a mechanic and usually do 99.9% of all my maintenance. The Volt did make me feel uneasy about that. My experience so far and with added knowledge of the car has been 100% positive and has exceeded my expectations in every way.
   
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