Quote:
Originally Posted by TCBavarian
Quote:
Originally Posted by John-M007
BMW will NOT Pass the $7,500 Federal Tax Credits and Incentives for New All-Electric and Plug-in Hybrid Vehicles to the customers.
If you are planning to lease a new BMW iX, i4, X3 30e, X5 45e, 330e, and 530e BMW will NOT allow you to apply for the federal tax credits. Instead, BMW will apply for those credits and keep the money.
An average base Electric and Plug-in Hybrid BMW vehicles are about $4,000 to $10,000 dollars more expensive than your gasoline engines. The insurance for full electric vehicles is about 15% more expensive. The cost of installing home Level II chargers is an additional $3,000 to $5,000 dollars depending on your house and wiring. Therefore, the intent of government was to establish tax credits to encourage consumers to purchase and/or lease these vehicles to move towards the clean air goals and objectives.
With BMW withholding the $7,500 federal tax money from the consumers, it makes no business sense for the consumer to spend anywhere from $7,000 to $15,000 dollars more than they usually do to lease a BMW Electric and Plug-in Hybrid vehicles. If you are a CPA, tax and financial guy/lady, you will see that leasing a BMW Electric and Plug-in Hybrid is a major financial setback.
The only winner is the BMW who gets to fully profit from the sales of these vehicles and the tax credits. BMW does not even provide any attractive incentives towards these vehicles. This goes against what the intent of legislatures was to promote cleaner cars.
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Called it months ago. It's been like this for 45e. |
The intent of Congress and Legislatures was to encourage people go green. The intent wasn't for BMW to take advantage of people. Manufacturers already receive their fair share of tax credit for every electric car they build. The government wanted to help people to offset the outrageous electric car expense.