[DonC]

That is probably correct but you have transaction fees like sales tax and doc fees and so forth. You also have to wait for the rebates.

 

[Henry_FL]

7500 is not a rebate, while you may qualify for the tax credit, it has no difference in your required loan amount as you won't see it when you get the new car.

 

[NavyWife]

7500 is not a rebate, while you may qualify for the tax credit, it has no difference in your required loan amount as you won't see it when you get the new car.

Good point. And the tax on our Volt was $2,000! I was shocked. You don't find that out until the end.

 

[llninja]

I'm not sure where you got the state $2.4K number. You should be able to get 10% of the base MSRP, so it should be $3418.50. The other thing is that dealers tend to try to make money on the trade, so good luck getting close to that KBB number. You have the advantage of $11K of tax credit/state rebate which helps offset the initial depreciation hit, but my guess is that is will be cheaper overall to drive your current volt into the ground instead of trading in. It all depends on how high of trade in you can get and how low a bargain you can get on a new volt, and whether you are upside down on the existing volt loan.

 

[llninja]

Good point. And the tax on our Volt was $2,000! I was shocked. You don't find that out until the end.

the taxes are applied to the car's MSRP minus the dealer discount, but before any GM rebates, state rebates, and federal tax credits. And if you have a GM credit card, you can accumulate even more rebates (I was able to knock an additional $3500 off mine). Every penny helps.

 

[NavyWife]

And if you have a GM credit card, you can accumulate even more rebates (I was able to knock an additional $3500 off mine). Every penny helps.

What?!? I didn't know about the GM card. What kind is it and can anybody (non-employee) get it? We have them all: Discover, AmEx, Visa, MasterCard; we pay them off every month and then in February they each send us a nice check for several hundred dollars for some kind of rebate points (3% for gas & hotels, 2% restaurants, 1% everything else). The Sam's Club Discover is changing over to MasterCard and is going to give a 5% rebate for gasoline purchases (now when we don't need it)!

 

[llninja]

What?!? I didn't know about the GM card. What kind is it and can anybody (non-employee) get it? We have them all: Discover, AmEx, Visa, MasterCard; we pay them off every month and then in February they each send us a nice check for several hundred dollars for some kind of rebate points (3% for gas & hotels, 2% restaurants, 1% everything else). The Sam's Club Discover is changing over to MasterCard and is going to give a 5% rebate for gasoline purchases (now when we don't need it)!

Check out gmcard.com. Alas the best deal was over 14 years ago when you got 5% capped at $500 per year for 7 years. I've used mine twice, once for a CTS, and now for the volt. Several of us are grandfathered in on this old program. The new ones are 2% with no cap or redemption limits. So spend about $4M through the card and get yourself a new ELR for free.

 

[kns]

7500 is not a rebate, while you may qualify for the tax credit, it has no difference in your required loan amount as you won't see it when you get the new car.

The Federal tax credit is available as soon as you adjust your tax withholding and/or quarterly tax payments. In fact, you can make those adjustments before buying a Volt in anticipation of earning the Federal tax credit.

KNS

 

[bonaire]

A new 2015 may offer the new colors and some new tech but hardly any difference. Why trade in early? I would wait for Gen II in late 2015 which is not far from now. Maybe 13 months.

Got my 2011 model in July 2012 probably a couple months before you got your 2013. Two years in and over 40k miles. I am waiting at least until one year of Gen II is out and reviews are in. Also offers the chance to see what Ford and Nissan will be doing in the next couple of years. eREV is the way to go. No BEV is really right for me.

 

[kns]

the taxes are applied to the car's MSRP minus the dealer discount, but before any GM rebates, state rebates, and federal tax credits. And if you have a GM credit card, you can accumulate even more rebates (I was able to knock an additional $3500 off mine). Every penny helps.

Sales tax in NJ is applied to the price after trade-in. States may differ, but in NJ that is one advantage of a trade rather than a private sale.

KNS

 

[tomgua]

I was thinking also of trading in my 2013 volt with 34k miles instead of buying an extended warranty, but the calif tax and license ads almost $4000 so I would have to come up with miles$6000 even with the dealer knocking 4000 off msrp on the 50 volts in inventory. Several fealers in the SF bay area have taken delivery of a ton of 2014 volts recently since production was restarted after the hamtramick plant closure due to slow demand. My trade in value of 20k might be dropping soon, so I will probably keep it and hope i don't have any repair issues. The cad elrs have been price cut by 20000, but $58000 is still too much.

 

[Voltairean]

I did exactly this less than 2 month ago. See my thread for the details. It was a no brainer for me and the 24K miles that I run annually.
http://gm-volt.com/forum/showthread.php?116338-Purchase-deal-for-our-MY-2014

 

[EricasVolt]

I did exactly this less than 2 month ago. See my thread for the details. It was a no brainer for me and the 24K miles that I run annually.
http://gm-volt.com/forum/showthread.php?116338-Purchase-deal-for-our-MY-2014

Voltairean,
That is exactly what I was looking for. Thanks!