[rand49er]

Dealer has a 2014 "demo" with 2 miles on it, and it's in my color. Let me also say I've ALWAYS wanted a Volt. My questions are:

1) Would the $7,500 tax credit still apply?

2) Are there any dealer incentives I should be inquiring about?

3) We usually buy our cars new and keep them 6-10 years. Is it a wise decision to buy a car with what is (now) older technology? Should we lease instead? (I drive 15-17k miles a year so that has to be factored in.)

4) Is there anything else I should be thinking about that's particular to a Volt?


Thanks, everyone. I'm sure the answers to these questions are buried in this forum somewhere, and I'll be reading as much as my time will to find the answers and appreciate anyone who chimes in.

 

[jmallx]

1) With 2 miles on it I doubt the car has been titled. The 7,500 tax credit should be fine.
2) Post the final out the door selling price. I bought mine new (Base + Heated Seats) approx 13 months ago for 31,500.
3) What is your daily round trip? Can you charge at work? 120V charging at work is fine btw. I do 120V and today I left with 93% after approx 9 hoours.
4) Not at the moment.

Hope this helps.

 

[norcalkrautnit]

Congrats for getting this ---><--- close to finally owning a Volt! I got my first one (a 2015) this past October and it's the most satisfying car to drive I've ever owned. To answer some of your questions:

1) Yes, but only if the car was never titled/registered to anyone (including the dealership) before. You should very specifically and emphatically demand to know the status of this tax credit before making any sort of purchase commitment. With 2 miles on the clock, you're probably fine, but be careful.

2) The dealer himself should be willing to take a massive haircut on the sale. At least $10k-$12k, hopefully more. GM has some additional factory incentives you may or may not qualify for, including owner/lease loyalty, competitor 'conquest', farm bureau, private offer, customer cash, bonus tag, extra bonus tag, GM Card, etc. I'd suggest doing a search on this very forum on some recently completed Volt 2014 transactions. As I recall, some went for as little as $15k after all incentives and credits.

3) I've only ever leased a single vehicle (2016 Equinox LTZ loaded for $150/mo with 12k miles for 24 months and a few hundred bucks down). It was a good deal, and I only need it for 2 years, so buying and then taking the depreciation hit and having to sell it was incentive enough to lease. Normally, I (and many others) would say buy a 2-3 year old used car and drive it into the ground for optimal value for money. With current electrified vehicles, though, leasing might be a better proposition. Battery tech is improving quickly, and there are some very nice subsidized leases available, and if you want to drive an electrified CUV or wagon or minivan or truck instead of a compact car 3 or 4 years down the road, leasing gets you out of a current Volt much cheaper and more quickly than buying and selling. In CA, 2017s are leasing for $119/mo before taxes on low-mileage leases for 36 months with about $3500 down, and $209/month with $0 down (plus taxes, title/reg fees, etc.). If you qualify for some of the non-standard incentives, you might get a better deal.

4) Search these forums for the stack of answers to this question. It's been addressed very well by others already.

Good luck!

 

[rand49er]

...1) Post the final out the door selling price. I bought mine new (Base + Heated Seats) approx 13 months ago for 31,500.
3) What is your daily round trip? Can you charge at work? 120V charging at work is fine btw. I do 120V and today I left with 93% after approx 9 hoours ...

Don't have the "out the door" price yet. I'll get that Friday and definitely post it up.

I'm semi-retired and work part time. Commute is about 28-ish miles round trip. Probably can't charge at work.

You bring up an issue I hadn't mentioned and that is what options I should be concerned about. Guess I thought it pretty much came in one configuration only.

... 1) Yes, but only if the car was never titled/registered to anyone (including the dealership) before. You should very specifically and emphatically demand to know the status of this tax credit before making any sort of purchase commitment. With 2 miles on the clock, you're probably fine, but be careful.

2) The dealer himself should be willing to take a massive haircut on the sale. At least $10k-$12k, hopefully more. GM has some additional factory incentives you may or may not qualify for, including owner/lease loyalty, competitor 'conquest', farm bureau, private offer, customer cash, bonus tag, extra bonus tag, GM Card, etc. I'd suggest doing a search on this very forum on some recently completed Volt 2014 transactions. As I recall, some went for as little as $15k after all incentives and credits.

3) I've only ever leased a single vehicle (2016 Equinox LTZ loaded for $150/mo with 12k miles for 24 months and a few hundred bucks down). It was a good deal, and I only need it for 2 years, so buying and then taking the depreciation hit and having to sell it was incentive enough to lease. Normally, I (and many others) would say buy a 2-3 year old used car and drive it into the ground for optimal value for money. With current electrified vehicles, though, leasing might be a better proposition. Battery tech is improving quickly, and there are some very nice subsidized leases available, and if you want to drive an electrified CUV or wagon or minivan or truck instead of a compact car 3 or 4 years down the road, leasing gets you out of a current Volt much cheaper and more quickly than buying and selling. In CA, 2017s are leasing for $119/mo before taxes on low-mileage leases for 36 months with about $3500 down, and $209/month with $0 down (plus taxes, title/reg fees, etc.). If you qualify for some of the non-standard incentives, you might get a better deal ...

Good to know about the titling/registering part.

My brother in law is a GM engineer and will give me one of those "family" discounts. I have a GM Card, but it can't be used with the GM family discount as I understand.

Drives me crazy to put money down on a lease. Would much rather "buy" the miles up front and have simple monthly payments.

Got another question: If I was going to run this car into the ground, how many miles are people getting on them before major issues occur? 150k miles? Less? More?

 

[AtomicPowered]

"Got another question: If I was going to run this car into the ground, how many miles are people getting on them before major issues occur? 150k miles? Less? More?"

They have been on the road since 2011 and there have not been too many run into the ground as of yet. One guy in Ohio has 315,000 miles on his.

 

[Tim S FL]

Hello
Should check cars.com or other for compareables. Demo 2014's are listing for 19K. This makes the tax credit a big question as already mentioned. More important is, how much of it can you use. If less than 5k then you may be better if the dealer took it, like some of the 19K cars being listed. Then you get it up front along with other incentives.
If I had to do it over i think I would have haggled harder to get the rear camera. I got a 2015 in march for 19.400+TTL.
With shipping costs being around 600-900$ it could be a good option if in a higher priced area.

 

[kns]

My questions are:

1) Would the $7,500 tax credit still apply?
===Ask to see the manufacturer's "statement of origin" to be sure it has not yet been titled. Keep in mind that you don't need to wait until next April to receive the federal tax credit. You can receive it this year by reducing your withholding or quarterly tax payments.

2) Are there any dealer incentives I should be inquiring about?
===After pressing the dealer on price, ask to be given a few extra cost options you might want, eg, rubber floor mats. Those options can be worth more to you than the dealer will have to pay for them. And if he wants to sell the car there should not be too much objection.

3) We usually buy our cars new and keep them 6-10 years. Is it a wise decision to buy a car with what is (now) older technology? Should we lease instead? (I drive 15-17k miles a year so that has to be factored in.)
===The technology in a 2014 Volt is still way ahead of much of the competition. Nothing to be embarrassed about. And leasing is preferred only for business use or if you don't have the cash to buy. If you have the cash to buy, that is almost always the least cost option for such a long holding period.

4) Is there anything else I should be thinking about that's particular to a Volt?
===Not particular to a Volt but I recommend since the vehicle has been sitting for a while...
=====Have the dealer replace the 12v battery, all fluids, the tires, the wiper blades and anything else that might have deteriorated over time.
=====Have the dealer perform all applicable "field actions" which is a general term that includes any applicable "recalls" and "customer satisfaction campaigns."

KNS

 

[jmallx]

Forgot some good tidbits.
In Michigan
January range 20-25 miles of electric range with heater going (I don't even bother with the seat heaters).
July Range is 40-45 miles of electric range with the AC going.

When I first got the car my daily round trip was 45.1 miles.
I made it from June 30, 2014 to December 12, 2014 on dealer gas.

Enjoy.

 

[rand49er]

... They have been on the road since 2011 and there have not been too many run into the ground as of yet. One guy in Ohio has 315,000 miles on his.

I think I read about this guy. Think it said that a large share of his miles were on the ICE though. Not that that's a bad thing.

... More important is, how much of it can you use. If less than 5k then you may be better if the dealer took it, like some of the 19K cars being listed. Then you get it up front along with other incentives.
If I had to do it over i think I would have haggled harder to get the rear camera. I got a 2015 in march for 19.400+TTL.
With shipping costs being around 600-900$ it could be a good option if in a higher priced area.

Not being a CPA, why would I only be allowed to use $5k of the tax credit?

The rear camera is a great point! I assume it's a dealer-installed option then?

 

[Foxtrot]

For options, I wouldn't touch one without the rearview camera and Driver confidence 1.
Rear view out of these cars is severely compromised and having these greatly reduces the anxiety in tight parking lots.

I bought a 2014 from the dealer with 200 miles on it 13 months ago for about 29K before tax and license.
It has every option except DC2 and stickered over 40K. With the 7500 fed credit and 1500 Ca incentive, it was a great
deal but I'd expect such cars to be much less now. I see used low mileage ones in SoCal for 18K or so.

If you like to drive with the windows open, ask for the anti buffeting kit to be installed. It should be covered by Chevy.

Its a great car. I'd keep it except that I'm 73 and wanted the even better 2017 and can afford it so decided to spoil myself
for once.

 

[Mister Dave]

Not being a CPA, why would I only be allowed to use $5k of the tax credit?

The tax credit applies against your tax liability. Your tax liability may be too low if you're semi-retired. You might be able to raise it (if necessary) enough by taking a larger distribution from any taxable retirement accounts you may have.

 

[rand49er]

... After pressing the dealer on price, ask to be given a few extra cost options you might want, eg, rubber floor mats. Those options can be worth more to you than the dealer will have to pay for them. And if he wants to sell the car there should not be too much objection.

... I recommend since the vehicle has been sitting for a while ... Have the dealer replace the 12v battery, all fluids, the tires, the wiper blades and anything else that might have deteriorated over time ... Have the dealer perform all applicable "field actions" which is a general term that includes any applicable "recalls" and "customer satisfaction campaigns." ...

Yeah, those little extras mean little to a dealer but represent sizable outlays to us when added up.

I'll definitely squeeze him on "field actions" and "recalls." Great idea.

Forgot some good tidbits.
In Michigan
January range 20-25 miles of electric range with heater going (I don't even bother with the seat heaters).
July Range is 40-45 miles of electric range with the AC going.

When I first got the car my daily round trip was 45.1 miles.
I made it from June 30, 2014 to December 12, 2014 on dealer gas.

Enjoy.

Wife has heated seats in her SRX. Feel really weird to me like somebody's hand ... well, never mind.

My '11 Chevy Cruze ECO gets 42-42 MPG in summer sans A/C and 33-35 MPG in winter all in mixed driving. Can't wait to see what kind of range I can eek out of a Volt.

 

[rand49er]

For options, I wouldn't touch one without the rearview camera and Driver confidence 1.
Rear view out of these cars is severely compromised and having these greatly reduces the anxiety in tight parking lots ...

If you like to drive with the windows open, ask for the anti buffeting kit to be installed. It should be covered by Chevy.

Its a great car. I'd keep it except that I'm 73 and wanted the even better 2017 and can afford it so decided to spoil myself
for once.

Good to know about the rear view camera. Is this a dealer-installed option?

Buffeting kit sounds good, too.

I'm 67, and I want to be around to get the next and the next generations of EVs. Exciting times we live in.

The tax credit applies against your tax liability. Your tax liability may be too low if you're semi-retired. You might be able to raise it (if necessary) enough by taking a larger distribution from any taxable retirement accounts you may have.

My wife makes a bundle, so our tax liability is way over $7,500 ... unfortunately. But, now I understand what was meant by that. Thanks!

 

[Mister Dave]

My wife makes a bundle, so our tax liability is way over $7,500 ... unfortunately. But, now I understand what was meant by that. Thanks!

Not sure how your wife making a bundle is unfortunate. No worries on the $7500 then.

 

[accelerus]

as I understand the GM card thing applies to any and all situations... if you are earning cashback on your GM card, that's your money you earned... there was a recent thing floating around the other day how they are giving out 750 bonus cash as well to any GM card holders.

 

[DBMoore]

My wife makes a bundle, so our tax liability is way over $7,500 ... unfortunately. But, now I understand what was meant by that. Thanks!

If that is the case, why not go for the better-in-every-way 2017 Volt?

 

[bentbiker]

I'm surprised nobody has cautioned you to make sure what the remaining warranty is. If they are calling it a demo, and put it into service as such, I believe the warranty clocks began ticking at that time. I'd also be asking why it has only 2 miles if put into service as a demo. Or, vice versa, ask why it is labeled a demo instead of new; almost seems like some kind of legal distinction. Ask whether any repairs or service.

In my opinion, parking sensors front and back are a necessity for this car unless you like to park by "feel". And, check the tires; if it has been sitting for 2 yrs I'd be concerned about possible dry-rot.

 

[Norton]

Ask them to see the MSO. Don't believe what they say. You will need a copy for the Feds to grant the $7500 incentive.

Do you know how to tell if a car salesman is lying?

 

[Coppersnowboarder]

I bought a used 2013 Volt last year. As with a computer, technology is constantly changing. If you can grab benefit from a few years with an older vehicle with little loss to depreciation, then go for it. Compare with the Certified Used vehicles available in your area. https://www.cars.com/for-sale/searchresults.action/?stkTypId=28881&stkTyp=U&tracktype=usedcc&cpoId=28444&cpo=Y&mkId=20053&AmbMkId=20053&AmbMkNm=Chevrolet&make=Chevrolet&AmbMdId=35025&AmbMdNm=Volt&model=Volt&mdId=35025&prMx=20000&rd=100&zc=48178&searchSource=QUICK_FORM

 

[Mister Dave]

You bring up an issue I hadn't mentioned and that is what options I should be concerned about. Guess I thought it pretty much came in one configuration only.

The car your looking at comes in one configuration only. Some upgrades might be possible at extra expense. Otherwise it's pretty much academic.

A better way to check if the car has been titled is to ask for a Carfax report. It will say if the car has been titled. The MSO/MCO could just be a copy. This is a document used when they title your car, and it's sent to the state.

Ask them to see the MSO. Don't believe what they say. You will need a copy for the Feds to grant the $7500 incentive.

This is not correct. When you file IRS Form 8936 to claim your tax credit, there is no requirement for an MSO/MCO to be sent. I have never seen the MSO/MCO for my car and I filed without any issue.

All you need to identify your car is the VIN number.

Here's a sample form (it's a 2015 form - you'll want to 2016 version next tax season): https://www.irs.gov/pub/irs-pdf/f8936.pdf