[ANALYST]

January 24, 2014, 3:07 p.m. EST: I'm interested in either purchasing or leasing a Volt this weekend but I'm confused buy one post (and a dealership salesperson) that indicated the $7,500.00 Federal Tax Credit ended in 2013. Is this correct? The http://www.fueleconomy.gov/feg/taxphevb.shtml site appears to indicate that the $7,500.00 Federal Tax Credit is still in effect. Can someone give me a definitive answer?

 

[ANALYST]

Hi Elemental. Just to make sure I am reading your reply correctly, the $7,500.00 Federal Tax Credit is still in effect but a Federal tax credit associated with purchasing/installing a charging station has expired. Is this correct?

Additional Question: I've been reading and hearing so many positive things about the VOLT that besides the cost of battery (and supporting electronics) replacement and battery life, are there any other negatives that I should be aware of?

Thanks.

 

[ANALYST]

Thank you. It's pretty unnerving to read (and be told by a salesperson) conflicting information and not be confident that I would be able to take advantage of the $7500.00 Federal Tax Credit.

 

[ANALYST]

Thank you. FYI, the VOLT is the only car I can afford that has me inspired / excited to drive. I've been crunching the numbers and just looking at energy costs alone, at $3.20/gal (regular - and using $3.50 premium) at 12,000 miles per year with my driving habits I estimate that I could save about $5,000.00 over six years. About half of the energy savings would be lost to higher insurance premiums. Still... saving a net of $2,500.00 over six years is quite enticing especially when I compare the costs to driving a small SUV.
Do you have a quick perspective regarding lease vs. buy?