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Discussion Starter · #1 ·
My blue FE just arrived at my local dealer. Test drove and liked it a lot. They gave me a pricing sketch and I said I needed to go home to crunch the numbers and was told buy/lease now or someone else will take it. I’m now home crunching the numbers. I need to move quickly it seems.
1) i’m attaching the purchase and lease offer. I’d love feedback from the awesome users of this forum if I’m getting a fair deal.
2) my instinct is to buy. I’ve put the money away and have had great luck selling previous cars once it was time. I also think this will hold its value into years 3+. Would love thoughts on that as well.

you guys rock! Thanks!
 

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Everything looks normal except the money factor (Rate) is a little high at .00268 which depends on your credit rating and dealer, but many have been recently getting a MF of .00143 from VW credits offer.
 

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That is about what mine was. NY has a $2000 rebate and my financing was at 2.5% at Bethpage FCU. I say buy it!!
 

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Don't buy. The car may hold it's value, but it is not going to make up for the $7500 federal tax credit.
If you only drive limited miles under 10k a year and you like having a new car every of years then lease. If you plan on keeping the car or put more than 10k a year on a car I would buy. Personally I don’t like the lease programs because of the limited miles but this again is a personal choice. What ever you feel comfortable with doing.
 

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Discussion Starter · #6 ·
Thanks for your advice. Hmm... I’d still get the $7500 during tax time next April, right? I’ll need to adjust my withholdings to make sure, but I would think I could get my withholdings low enough for me to owe $7500 to the feds for 2021. Maybe I’m missing something. This is complex.

Don't buy. The car may hold it's value, but it is not going to make up for the $7500 federal tax credit.
 

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I dont think you actually get the tax write off. This is my 3rd electric car with the tax credit. The dealer took the 7500 off the list price. Ive never filed for the deduction because the dealer did it for me. Thats way i said you cant make up that huge discount no matter how well the vakue holds up
 

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Thanks for your advice. Hmm... I’d still get the $7500 during tax time next April, right? I’ll need to adjust my withholdings to make sure, but I would think I could get my withholdings low enough for me to owe $7500 to the feds for 2021. Maybe I’m missing something. This is complex.
As long as your total tax liability is at least $7,500 (Form 1040, Line 24) then you can get the entire amount. What you employer is withholding is irrelevant.
 

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I dont think you actually get the tax write off. This is my 3rd electric car with the tax credit. The dealer took the 7500 off the list price. Ive never filed for the deduction because the dealer did it for me. Thats way i said you cant make up that huge discount no matter how well the vakue holds up
That only applies for leasing as the dealer (bank) owns the car and not you. If you buy, you get the $7,500 credit.
 
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Purchase if you can wait a year to get the federal tax credit, if you feel good about holding onto it for at least five years, and you don’t need the latest and greatest tech as soon as it comes out. A lease “down payment” is a bad idea.
 

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The MF is high. My dealer started around 0.0268 and dropped it to 0.0143 when I asked.

You still might want to buy, but I’d see if you can get the MF down before you decide.
 

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Thanks for your advice. Hmm... I’d still get the $7500 during tax time next April, right? I’ll need to adjust my withholdings to make sure, but I would think I could get my withholdings low enough for me to owe $7500 to the feds for 2021. Maybe I’m missing something. This is complex.
Withholding has nothing to do with it. As long as your tax liability is over $7500 you get it.
 

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Thanks for your advice. Hmm... I’d still get the $7500 during tax time next April, right? I’ll need to adjust my withholdings to make sure, but I would think I could get my withholdings low enough for me to owe $7500 to the feds for 2021. Maybe I’m missing something. This is complex.
If it's important to get the $7500 now-ish, you can amend your W4 to adjust your withholding to begin paying yourself in installments, or (and I wouldn't recommend this though I work with some guys who have done this) amend your W4 to adjust for NO withholding (no federal deduction from you check) then once you hit about $7500 submit an updated W4 to get you back to normal.

But no matter what, yeah, you'll get the $7500 one way or the other, either through reduced withholdings or through refund / reduced tax liability next April.

I'd try to knock that interest rate down. I know the VW 1.85% is gone but replaced with a 2.05% or thereabouts. My credit union is offering 2.5%.
 

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I’m sure they can somehow someway but as you have a 500 dollar deposit on that VIN how can they sell it out from under you? I feel like a weekend to decide what to do is extremely reasonable. Especially when you have a deposit on the vehicle.
 

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Discussion Starter · #17 ·
I was told I would have first right of refusal but they were booking people to come in right away to see the car. If any of them wanted it then I’d need to buy it or they would refund my deposit. I’m sure someone will want a blue FE that’s available now, so yeah, ASAP.

My first thought was how also how poorly the dealer was treating you.
 

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Discussion Starter · #19 ·
If it's important to get the $7500 now-ish, you can amend your W4 to adjust your withholding to begin paying yourself in installments, or (and I wouldn't recommend this though I work with some guys who have done this) amend your W4 to adjust for NO withholding (no federal deduction from you check) then once you hit about $7500 submit an updated W4 to get you back to normal.

But no matter what, yeah, you'll get the $7500 one way or the other, either through reduced withholdings or through refund / reduced tax liability next April.

I'd try to knock that interest rate down. I know the VW 1.85% is gone but replaced with a 2.05% or thereabouts. My credit union is offering 2.5%.
So smart.
 

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Is that San Francisco VW. Just so you know I had inquired about an ID 4 there , sale person gave me .00243. I told him I wanted .00143. He said that rate is available for customer with reservation. I told him I would wait for my reservation then. So I walked. He has since sent me three messages to come back. Good luck
 
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