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Discussion Starter · #1 ·
Well, I did it.

(With a somewhat heavy heart) I traded in my 2011 Crystal Red Volt for a 2018 model. My 2011 was a very good car, and the only maintenance costs were gas, oil, and filters. It even had the original wipers because I always kept it in the garage, and I park in a garage at work. I really loved the car, but was ready for something new. That, the tax credits, Texas rebate, and GM Card bonus money added up to an offer I couldn't refuse.

I ended up with a 2018 Summit White Premier Volt with Nav, Confidence I and II, and ACC. I've only had it a couple of days, but I'm loving the car so far. Lots of new bells and whistles to learn.

Now to wade through the mounds of paper it takes to apply for the Texas Light-Duty Motor Vehicle Purchase electric drive rebate. Sheesh.
 

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Would you mind sharing the details of the deal you got?
 

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Discussion Starter · #3 ·
I had been talking with the dealership about an iridescent pearl Volt equipped exactly the same way except color, but I didn't really want to pay for a color I wasn't fond of. I went back to the dealership to have another look when the sales manager recognized me and said they just got in this courtesy car and could make me a better deal. It had 2900 miles on it, and smelled and looked new. I didn't find any obvious flaws and I went over it pretty well.

Anyway, the deal went something like this:

Sell price: $36,800
Less trade: $8000
Less GM Card reward (including $2K bonus): $2900

After taxes and fees, it came out $27,900.

They tried very hard to sell me a 10yr 100K service contract, but I didn't bite.

After the $7500 tax credit and $2500 Texas rebate, it will cost me less than $18K. Of course the Fed will tax me on the Texas rebate, so it won't be quite that good.

I'm sure others have done better, but it was next to impossible to locate a Premier with ACC in Texas before my GM Card bonus money expired Monday. I'm pretty happy with the deal.
 

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I had been talking with the dealership about an iridescent pearl Volt equipped exactly the same way except color, but I didn't really want to pay for a color I wasn't fond of. I went back to the dealership to have another look when the sales manager recognized me and said they just got in this courtesy car and could make me a better deal. It had 2900 miles on it, and smelled and looked new. I didn't find any obvious flaws and I went over it pretty well.

Anyway, the deal went something like this:

Sell price: $36,800
Less trade: $8000
Less GM Card reward (including $2K bonus): $2900

After taxes and fees, it came out $27,900.

They tried very hard to sell me a 10yr 100K service contract, but I didn't bite.

After the $7500 tax credit and $2500 Texas rebate, it will cost me less than $18K. Of course the Fed will tax me on the Texas rebate, so it won't be quite that good.

I'm sure others have done better, but it was next to impossible to locate a Premier with ACC in Texas before my GM Card bonus money expired Monday. I'm pretty happy with the deal.
The Feds will only tax you on the Texas rebate if you itemized, and then only up to the lower of the amount you listed on Schedule A for State Income Taxes or the Schedule A deduction minus the Standard deduction.
 

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Discussion Starter · #5 ·
The Feds will only tax you on the Texas rebate if you itemized, and then only up to the lower of the amount you listed on Schedule A for State Income Taxes or the Schedule A deduction minus the Standard deduction.
Thanks! Texas doesn't have an income tax. We'll have to see if I can itemize this year.
 

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More and more people will not be itemizing in 2018 as the standard deduction has been raised to $24K for married couples and $12K for single. Also, state and local (like property taxes) are limited to a 10K deduction combined so with the increase in the standard deduction and the limitations on itemized deductions the standard deduction will be the way many go. In states like Texas with no income tax, it makes it even harder to get enough itemized deductions for itemizing to make sense.
 

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Discussion Starter · #7 ·
Yep, I doubt I'll be itemizing.
 

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Thanks! Texas doesn't have an income tax. We'll have to see if I can itemize this year.
With no income tax at all you might have an add-back. Check with a tax accountant who deals with Texas "rebates".
 

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Discussion Starter · #9 ·
Got my Texas rebate yesterday. Turned in the paperwork July 5, Got notified I was approved August 12, and received the check August 16. So less than 6 weeks. It helped that I'm local, so I was able to drop the forms off at their office.

I had one hiccup during the process: I got an email that said I would have to re-submit the purchase agreement as it was e-signed and there was no form with a real signature. I had to go back to the dealer to get the finance guy to sign it. Overall the experience was pretty decent; the people in the TERP office are really helpful and easy to work with.
 

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Would be great to hear impressions of 2011 vs. 2018. Significant differences.
 
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