EV car incentive program

Submitted by Little_Art8272 t3_z3r6dh in vermont

Before I go any further, if you have any negative comments about EVs or want to debate. Please don't comment, that is not what this post is about.

I'm considering buying or leasing an EV for my next car. I'm interested in the Nissan leaf, I could never afford a new car but I'm wondering if anyone on here has bought an EV with Vermont's incentive program. Is a new car within reach?

I did use the efficient Vermont tool to see the incentive for a used EV and I saw about a $1750 rebate (if I calculated correctly). I think that's pretty good. Anyway, thoughts? Experiences?

Remember! No negative comments please!

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advamputee t1_ixnfijg wrote

I just got a used Prius using the state incentives. Super easy — filled out the application online and was approved a few hours later. Dealer accepts the check from the state, so it’s credited directly at time of sale.

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21stCenturyJanes t1_ixnpdeu wrote

Was it hard to find a used Prius?

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advamputee t1_ixnvu6c wrote

Not if you sit and wait. Found a used 2020 at the Nissan dealer in Rutland. Just keep your eyes out. The state incentive is for 25% of the vehicles value, up to $5k. You have to be below certain income requirements.

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21stCenturyJanes t1_ixqcohb wrote

My husband really likes the new Prius's coming out but they're really expensive.

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Little_Art8272 OP t1_ixnu09e wrote

Did you buy the Prius in Vermont? I wonder if you can still use it, if you purchase out of state?

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advamputee t1_ixnvyk2 wrote

I did. Unsure on if it would work on an out of state purchase. There’s a number you can call to find out. Check out mileagesmartvt.org

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Stockmom42 t1_ixo9pf9 wrote

Check out the Chevy bolt it has the best deal at the moment. We ended up getting an EV and PHEV this year. So far no negative except I wish our phev was an EV lol. If you have green mountain power they offer a free charger and if you get a Chevy they offer free install or 1000 towards it if it’s deemed custom.

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Hell_Camino t1_ixpwfrp wrote

I was going to mention the free charger from GMP too. We got an EV too and got the free charger. For OP, here’s a cost to keep in mind, if your current electrical panel is maxed out and can’t handle the expansion of a 240 volts charger, you’ll have to pay to have a new panel installed. That happened to us. Plus, our panel was in the basement and opposite corner of the house from the garage. So, it was a long way to run the wiring. Our total install charge was $3K.

We are on our second EV and love it but it’s a possible cost to keep in mind if finances are tight for you.

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alostpacket t1_ixtmv46 wrote

+1 Great info but I wanted to add some more in case it's helpful for /u/Little_Art8272

I believe electrical panel upgrades and install costs related to an EV charger get the 30% federal tax credit again now from the Inflation Reduction Act (up to $1000 max)

Also Green Mountain Power has a straight cash rebate in addition to the free charger. >Get a $1,500 rebate when you buy or lease a new all electric vehicle (AEV), or a $1,000 rebate for a new plug in hybrid (PHEV). If you’re getting a used vehicle, you can get $750.

https://greenmountainpower.com/rebates-programs/electric-vehicles/in-home-ev-charger/

Charger:
https://greenmountainpower.com/rebates-programs/electric-vehicles/ev-rebate/

GMP Discount EV charging rates:
https://greenmountainpower.com/rebates-programs/electric-vehicles/ev-charging-rates/

Lost more incentives from other electric companies too:

https://www.driveelectricvt.com/incentives

  • Burlington Electric offers up to $2900
  • Stowe Electric department up to $1250
  • VEC $750
  • etc

Another route to cover panel upgrade would be to install a heat-pump and get up to $4000 for the panel and $2500 for wiring. https://www.familyhandyman.com/article/how-to-take-advantage-of-the-incentives-in-the-inflation-reduction-act/#electric-panel-upgrade

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deadowl t1_ixws9u8 wrote

Okay, so what about people who rent?

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Stockmom42 t1_ixy5fwk wrote

The programs aren’t exclusive to home owners but you would need to talk to your landlord. Chevy does offer an evgo credit instead of the charger install stipend. There are a bunch of charging stations around Vermont and New England, but it’s definitely something to look into.

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ExpressionFamiliar98 t1_ixn5lht wrote

Used the program. Very easy to navigate. Some dealers process the rebate for you.

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Little_Art8272 OP t1_ixn5t0x wrote

Did you buy new or used? And if you don't mind me asking, which vehicle did you purchase? Are happy with an EV?

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ExpressionFamiliar98 t1_ixq0af8 wrote

Purchased new. Purchased a Chevy Bolt - heavy, heavy dealer discounts at the time sweetened the deal. I am happy with the EV. The high speed charger infrastructure is improving. We use it for local trips and commute. Longer (100 mi plus one way) requires route planning to hit the woefully inadequate NNE charging infrastructure.

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Cap1691 t1_ixnzgoj wrote

In addition to incentives, VSECU (now under a new name I can’t remember) has extra low interest loans for EVs

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jsudarskyvt t1_ixq88pb wrote

Bought a new 2022 Leaf in March. I received $2500 credit at purchase from State of VT and $1500 credit at purchase from GMP. And next years tax return will get the $7500 Federal Tax Credit. So I got the Leaf for $11,500 less than MSRP.

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qwarfujj t1_ixszjg8 wrote

If I'm not mistaken that tax credit only covers your actual tax liability. If you owe 2k in taxes it's only worth 2k. You don't get the remaining $5500 as a refund. Someone can chime in if I'm remembering incorrectly.

I recall reading some advisors saying if you plan to take advantage of the rebate you should change your withholding for the year and underpay your taxes to get the full amount if possible.

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jsudarskyvt t1_ixuds2g wrote

That is correct. You don't get the credit above and beyond what your tax liability is. Changing your withholding doesn't really do anything. You will owe in taxes the same amount EOY based on your earnings. Using the tax credit to get a refund on taxes you paid but did not owe in the first place won't get you additional funds.

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Little_Art8272 OP t1_ixre3a4 wrote

Wow! Nice! The new ones look really good... Much better than the older ones .. how've you been liking it so far?

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murrly t1_ixnxfcx wrote

Does the Nissan Leaf qualify for the new national rebates after January 1st?

That bill is so confusing to navigate. I really wanted a new Toyota Prime ( 50 mile electric range, but still gas for long range trips ). Unfortunately with Manchin's last minute additions it no longer qualifies.

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bumpsetstevelee t1_ixo74s8 wrote

to answer whethet a new car is within reach for you i’d need to have a fuller understanding of your financial picture.

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patriarchgoldstien t1_ixn7m38 wrote

You’ll have to replace the battery on the Nissan every 3-5 years for about $5000.

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Little_Art8272 OP t1_ixna5hp wrote

The owner videos I've seen on YouTube most of them have the original battery, they lose range though. I've not heard a 3-5 year replacement?

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FinalSagan t1_ixnlpjh wrote

For what it’s worth, my eGolf is a 2015 that I drive everyday. Still at about 85% capacity and 100% usable.

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somedudevt t1_ixopgme wrote

Gen 1 leafs had a battery pack that needed to be replaced around 100k miles. The newer ones seem to double that. Depending on the miles u drive a Gen 1 seems like 5 years was pretty in line with its lifespan for a typical VT driver doing 20k a year.

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