advertisement
Forums

The Forum is sponsored by 
 

AAPL stock: Click Here

You are currently viewing the Tips and Deals forum
FU: Chevy Bolt / Tax Credit Questions
Posted by: C(-)ris
Date: October 07, 2023 11:42PM
I ended up picking up a 2018 Bolt with 22k miles on Friday. Price out the door with licensing/DMV, taxes, etc. was $19,124. After the tax credit it will be $15,124. It has a battery warranty to 122k miles, EV Component warranty till 100k miles. It looks and smells brand new.



I see they announced for next year the $4k credit will be available at point of purchase, that will be a nice bonus but I couldn't wait that long.

Put about 200 miles on it today, it is like a big go-cart on steroids in Sport mode. Driving it is going to take some getting used to, both the small size of the vehicle and the regen braking is so very different from the Super Duty.

Going to have to do some shuffling and electrical work to get the charger where I want it. The outlet I wanted to use can't provide the 13A without tripping the breaker. It is in the detached garage and is the last in the chain of outlets out there. Guessing it is too far from the breaker box for the wire used.

I charged at a Level2 public charger tonight just to see how it worked, took an hour and gained 22 miles. Cost $1.50 and I used 5.733KWh. Equivalent of 50mpg out here (Gas is around 3.45/gallon). Not horrible, but not great either. My electricity rate at home is .15252/KWh so if I had done that charge at home it would have been $.84 and my equivalent MPG would have been around 87mpg. Much better that way.

My normal daily commute is 63 miles, plus I usually drive another 20 miles or so around town for work and after work. That is about $2.50 per day with the Bolt. It costs me $23 per day with the Super Duty to drive the same amount. It is saving me around $430 per month driving the Bolt. I'm thrilled, should pay for itself in 3 years plus I have another vehicle and spend less every month.


Original Thread: [forums.macresource.com]



C(-)ris
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~



Edited 1 time(s). Last edit at 10/07/2023 11:46PM by C(-)ris.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Carnos Jax
Date: October 07, 2023 11:59PM
Awesome man.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: mattkime
Date: October 08, 2023 12:07AM
>It is saving me around $430 per month driving the Bolt.

People who are looking for an EV tipping point - this is it. Its actually people who commute a lot who have the most to gain.



Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Speedy
Date: October 08, 2023 02:31AM
Congrats, it’s a fine car for your use case! I really like the blue exterior. What kind of material covers the seats? You’ll be getting in and out of it a lot during those extra 20 miles so it may pay to get a seat covering for the driver side.

For your underground run to your detached garage I would get some sort of shielded cable so the critters don’t chew on it or better yet run it through some thin wall conduit. Not code but it will work for your purpose. I have a 50’ 10/3 extension cord (~$80, Menards) to run from an outlet next to my breaker box in my three stall garage to charge my 2014 ELR. I needed the full 50’ to run up across the trusses from the breaker box and then down again to the far side of my garage where I park my car, I bought 10/3 so I wouldn’t ever have any issues with the current draw. My Level 1 EVSE easily gives me a full charge (31 miles) overnight at 8 Amps (or 12 Amps) while my wife gets to use the Level 2 for her Volt.

My electric co-op offers half price 220v juice between 11p and 7a for vehicle charging. They require a separate meter but there is no charge for any of the meter/equipment however installation is on my dime and it must be installed by an electrician who pulls the building permit. I installed the breaker box in my garage decades ago and did not pull a permit so I decided not to get the reduced rate rather than risk the inspection (I installed the 60 Amp box and cable from my 200 Amp main box to code but still…). Your power provider may have a similar program, if so, they will have a list of installers. My co-op offers a $500 rebate on the install which would help.

[www.stearnselectric.org]

(BTW, I have a new-in-box Level 2 10kW Clipper Creek EVSE for sale. Your Bolt draws 7.2kW (about 25 miles added each hour), the new Bolts draw 11kW. The Level 2 I have is designed to be hardwired but you can put a male end on it to use with a welder outlet, etc. $250 + shipping from 56303. Because you drive 80 miles per day you will appreciate a Level 2 EVSE, especially in the winter.)





Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.



Edited 4 time(s). Last edit at 10/08/2023 02:45AM by Speedy.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: pqrst
Date: October 08, 2023 02:39AM
Good going.
How did or how will, the tax credit work? Have you gotten it already? Do you have to do the paperwork?
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Speedy
Date: October 08, 2023 02:47AM
Quote
pqrst
Good going.
How did or how will, the tax credit work? Have you gotten it already? Do you have to do the paperwork?

I’m pretty sure the tax credit will apply when C(-)ris files his 2023 federal return.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: pqrst
Date: October 08, 2023 02:52AM
Quote
Speedy
Quote
pqrst
Good going.
How did or how will, the tax credit work? Have you gotten it already? Do you have to do the paperwork?

I’m pretty sure the tax credit will apply when C(-)ris files his 2023 federal return.
Ahh, so does that mean you have do an itemized return? So a lower income person might not be able yo claim? That doesn’t seem fair but probably the way it is.



Edited 1 time(s). Last edit at 10/08/2023 02:53AM by pqrst.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Speedy
Date: October 08, 2023 02:54AM
Quote
pqrst
Quote
Speedy
Quote
pqrst
Good going.
How did or how will, the tax credit work? Have you gotten it already? Do you have to do the paperwork?

I’m pretty sure the tax credit will apply when C(-)ris files his 2023 federal return.
Ahh, so does that mean you have do an itemized return? So a lower income person might not be able yo claim? That doesn’t seem fair but probably the way it is.

No, you can file using the standard deduction. This is a credit, not a deduction.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: PeterW
Date: October 08, 2023 06:47AM
But not a refundable credit, so if you have no tax liability, the credit is worthless.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: gadje
Date: October 08, 2023 07:22AM
This is a credit, not a deduction.

And there is a limit, over a certain adjusted gross income you don't get the credit.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Filliam H. Muffman
Date: October 08, 2023 09:38AM
C(-)ris, try to drive it 1,500 miles in a 3 day weekend and tell me how the trip turns out. I have an upcoming funeral in Cali to attend and am considering renting a BEV and documenting the charging experience (leaving two days early as sort of a pre-run to hopefully get there in time).



In tha 360. MRF User Map
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Markintosh
Date: October 08, 2023 10:44AM
Nice job C(-)sis!

I've always liked that blue, and the Oasis blue that was only available on the 2020.

User tips (after owning two Bolts):

• Heated seats & heated steering wheel and just wearing a jacket in the winter will be a better solution that using the regular heat. The Bolt not having a heat pump is one of its few weak spots.

• If you live in an area where it snows, consider the Michelin X-Ice on all four tires. It really makes the Bolt a good snow car. I found the range hit to be so minimal, I would have considered just leaving them on all year as the primary tire.

• During colder months, charging in a garage or during the warmer part of the day will speed things up. If you head to a charger before work, a good part of the charging time is just heating the battery.

Getting into an EV that has great range, is well featured, and somewhat of a "normal" car for $15k plus change is awesome!



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA



Edited 1 time(s). Last edit at 10/08/2023 06:31PM by Markintosh.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: btfc
Date: October 08, 2023 11:06AM
“ Getting a $7,500 tax credit for an electric car will soon get a lot easier “

[www.npr.org]
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Spiff
Date: October 09, 2023 12:26PM
Interesting. I did not think you could get a tax credit on a used EV. Last I read (a couple years ago), you could only get the credit on a new vehicle.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: C(-)ris
Date: October 09, 2023 06:19PM
Quote
Speedy
Congrats, it’s a fine car for your use case! I really like the blue exterior. What kind of material covers the seats? You’ll be getting in and out of it a lot during those extra 20 miles so it may pay to get a seat covering for the driver side.

They are some sort of cloth fabric, not exactly sure. I'll swap them out with Katzkin leather when they wear out. The in out angle is fairly generous, I was surprised at how easy it was. Still amazed at how big the interior feels for such as small car.

Quote
Markintosh
User tips (after owning two Bolts):
If you live in an area where it snows, consider the Michelin X-Ice on all four tires. It really makes the Bolt a good snow car. I found the range hit to be so minimal, I would have considered just leaving them on all year as the primary tire.

Not sure what I am doing for winter yet. The Superduty is still probably going to be my choice for snowy days, but I'll likely use the Bolt the majority of the time.

Quote
Filliam H. Muffman
C(-)ris, try to drive it 1,500 miles in a 3 day weekend and tell me how the trip turns out. I have an upcoming funeral in Cali to attend and am considering renting a BEV and documenting the charging experience (leaving two days early as sort of a pre-run to hopefully get there in time).

I don't know if I would chance it in a Bolt. At least around here, DC fast charge stations are few and far between and no Tesla stations here support other brands. If you can't FastDC charge you aren't going to make it that many miles in that short of time.



C(-)ris
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: C(-)ris
Date: October 09, 2023 06:43PM
Speedy reminded me I need to check with my electric company and I found this:

[ev.xcelenergy.com]

Trying to do the math here. I pay .15KWh right now on my normal bill. I'm averaging 3.5miles/KWh so far and that seems pretty normal. I'm using around 22KWh per day, so that would be $3.42 per day on my normal bill vs $1.50 on this program. 21 work days a month would be $31.18 vs $71.82 for electricity and then another $17 for the charger rental from them. That would be $48.18 vs $71.82.

One downside is that whenever i decide to cancel I have to pay $200 to have their charger removed by an electrician. Plus side is that they are responsible for repairing it and installing it and it is a $550 charger I don't have to purchase.

Seems like it would be a good deal as long as I make good use of it for at least a year.



C(-)ris
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: Speedy
Date: October 09, 2023 08:46PM
That seems like a good plan in order to get to Level 2. Likely you will never uninstall the EVSE, at least not for $200, because going forward you will probably always have one EV. When you do move, you’ll probably buy a new EVSE and bump up the sales price on your home to cover the difference because the buyer, in 10 years or whatever, will also probably have an EV.

I like the plan offered by my utility better simply because there is no monthly ‘rental’ fee, the only cost is for the half-price kWs used - once you pay the electrician’s installation costs and buy the EVSE of your choice. No meter charge, etc. except sales tax on the kWs used.

With permission, can you plug in at work? If so, then you may never need Level 2 at home. Your total miles on a workday are likely to be too many for Level 1 charging to fully meet your needs if you only charge at home. But if you can charge for free or even a dollar a day at work, then you’ll be golden. My wife’s employer ( she is now retired) charged $300/year for access to a 110v outlet. Because she only worked two or three days a week and no days for four months (college professor), and that she did not need to recharge her Volt for her 20 mile round-trip commute (overnight charging always topped it off to 40+ miles) so she was not motivated to buy in. Others who had a much longer commute did pay the $300, especially staff who worked five days a week year round.

The requirement for WiFi is interesting. My utility uses a separate meter for the Level 2 charger and you supply the EVSE. Our utility currently has the capability to turn off your air conditioning unit during peak times. It happens only a few times a year. They could use the same capability to turn the off-peak meter on and off or simply have a timer built into the meter.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: sekker
Date: October 09, 2023 09:44PM
Congrats, love the color. Great car for that price!
Options:  Reply • Quote
Re: FU: Chevy Bolt / Tax Credit Questions
Posted by: C(-)ris
Date: October 09, 2023 11:25PM
Quote
sekker
Congrats, love the color. Great car for that price!

I looked at about 20 Bolts and most were White or Grey. I couldn't find the orange to look at, but this one looks amazing in the sun. Getting the windows tinted soon which will help with the fishbowl greatly. Also debating on wrapping the chrome trim in black vinyl as I'm not a fan of chrome.



C(-)ris
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 559
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 5122 on October 03, 2020