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Discussion Starter #1
I found a used 2017 Premier. Out the door price will be $31,526.

A local dealer has a new 2017 Premier with some discounts for $36,750. Add in taxes, fees, license, etc you're a little over $40K. I will probably only qualify for about $5000 of the tax credit, bringing my cost to about $35K.

So I pay $3400 less and get a car with 11,500 miles on it.
 

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I found a used 2017 Premier. Out the door price will be $31,526.

A local dealer has a new 2017 Premier with some discounts for $36,750. Add in taxes, fees, license, etc you're a little over $40K. I will probably only qualify for about $5000 of the tax credit, bringing my cost to about $35K.

So I pay $3400 less and get a car with 11,500 miles on it.
Have you shopped around? If it's used you cannot get the tax credit...You're better off looking around for another used 2016 or 2017 since it'll already include the tax credit in the form of depreciation/a lower price vs new...
 

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I found a used 2017 Premier. Out the door price will be $31,526.

A local dealer has a new 2017 Premier with some discounts for $36,750. Add in taxes, fees, license, etc you're a little over $40K. I will probably only qualify for about $5000 of the tax credit, bringing my cost to about $35K.

So I pay $3400 less and get a car with 11,500 miles on it.
If you only qualify for $5K of the fed tax credit, then this is way too much car for your pocketbook, unless you a filthy rich, retired, and you are barely dipping into your retirement account for annual income to get such a low tax burden (or are deployed and your income is coming tax free, or a plethora of other possibilities). But if your tax burden is truly $5K because your earnings are less than $50k per year, a $36.7K car is way too much car for your income. Please look at older used Volts instead. Cars.com shows many of them starting at $8,900 and up.

Don't let the shiny new car cause you to bite off more than you can chew.
 

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I would not buy it for that price. You can buy, if you shop around, perhaps a new one for that price or less and, if you qualify, be able to obtain the $7,500 Federal Tax Credit.

GM may offer the 20% off MSRP on the 2016 Volt like they did last year back in June 2016. Total with the dealer $3,000 off MSRP was a little over $11,000 off MSRP on our 2016 Volt LTZ model. Price we paid was $29,000, and with the $7,500 tax credit we qualify for the adjusted price $21,500, no sales tax in Oregon as well.

I would be patient if you can afford to be...
 

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Shop around, I got my 2016 Volt LT w/ Comfort Pkg & Bose used for $21,500 and it had 13,000 miles. The dealer bought it at auction and it was a GM executive/company car (originally titled by GM in Milton, MI.) It was in pristine condition. Got it from Sunshine Chevrolet in Arden, NC. Check them out, they are always buying used Volts from auction and always have used Volt's for sale.
 

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Discussion Starter #7
If you only qualify for $5K of the fed tax credit, then this is way too much car for your pocketbook But if your tax burden is truly $5K because your earnings are less than $50k per year, a $36.7K car is way too much car for your income.
Just because I ONLY owe $5000 in taxes, doesn't mean I earn less than $50K. I have a lot of deductions from business expenses and losses carried over from a few years ago.

I have more than enough in my checking account to pay cash for the car. My income supports a car 3X this cost. I'm just smarter with my taxes than others who don't deduct enough.

That being said. I found a 2016 Premier with 7700 miles for $24500, so problem solved. Thanks for your support.
 
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