GM Volt Forum banner

1 - 20 of 37 Posts

·
Registered
Joined
·
28 Posts
Discussion Starter #1
I can't figure this out. I have found several brand new 2017 volt LT's for around $30K. Problem is that my tax situation doesn't allow me to get the full $7500 tax credit. More like $4500 tax credit for me. What i don't understand is why I can't find a used 2017 or even 2016 volt for anywhere near $30K minus $7500 or $22500. Most 2016 volts with maybe 10-15000 miles are around the $27 - 28k price range. And when I google used volt prices all I get is articles about how low the volt resale prices are. What's up?
 

·
Registered
Joined
·
13,679 Posts
Is there any way you can increase your tax burden by Increasing earnings or doing a Roth conversion? Or if you are retired, maybe withdraw more funds from a retirement account?

And to double check, if your 2016 1040 line 44 is greater than $7500 and 2017 is about the same, you should be able to take the full tax credit.
 

·
Administrator
Joined
·
20,226 Posts
What's up?
Used by a private party or by a dealer? Those prices are nutty or looking for the uninformed. As you point out, they don't account for the $7500 tax credit, much less depreciation. Keep checking.
 

·
Registered
Joined
·
4,405 Posts
Lease. The mfr takes the Fed credit. This is why EV/PHEV leases are so low compared to their price.
 

·
Registered
Joined
·
28 Posts
Discussion Starter #5
I'm talking about dealer prices. KBB says that fair retail price 2016 with 8000 miles is $18k to $22k This is not just my local dealer. I've done an internet search within 500 miles of Kansas City. I haven't found any private party 2016 or 2017 volts for sale. Leasing is not a good option for me for several reasons. First off i put at least 15k miles a year on my cars. Second, I like to keep my cars for a long time. My 2008 prius has 205000 miles on it. I plan to get 300000 miles out of it and same for the volt.
 

·
Registered
Joined
·
1,890 Posts
It's probably mostly because Gen 2 is still so new, especially in non-CARB states, where it's only been available for a little over a year. So I'd suspect the problem is lack of supply.
 

·
Registered
Joined
·
907 Posts
It's a supply thing. There are $20K used 2016's out there, especially if you go private sale, they just get snatched up quick.
 

·
Registered
Joined
·
902 Posts

·
Registered
Joined
·
433 Posts
I can't figure this out. I have found several brand new 2017 volt LT's for around $30K. Problem is that my tax situation doesn't allow me to get the full $7500 tax credit. More like $4500 tax credit for me. What i don't understand is why I can't find a used 2017 or even 2016 volt for anywhere near $30K minus $7500 or $22500. Most 2016 volts with maybe 10-15000 miles are around the $27 - 28k price range. And when I google used volt prices all I get is articles about how low the volt resale prices are. What's up?
I bought our 2016 LT used with 13k miles for $21k. I think if you keep looking you'll find one for a better price. Gen 1 prices are even lower, you should be able to find a low mileage gen 1 for between $9k-15k. Try cars.com, they have a good interface that will let you search, sort, and filter by year, model, trim, price, color, distance, etc. I've done all of my car shopping on there.
 

·
Registered
Joined
·
6,672 Posts
I don't know how accurate cars.com is, but if I search 500 miles from my zip code (near St Louis) it returns only 32 pre-owned 2016/2017 Volts. And the cheapest listed was $16K with 14K miles in MN. So there are out there but you need to be willing to travel and move FAST. Cash is king.
 

·
Registered
Joined
·
28 Posts
Discussion Starter #11
Hmm. Maybe it is related to supply and demand. I just think it's strange that KBB.com says the retail price in my zipcode for a 2016 volt with 8000 miles is between $18k and $22k when there is nothing even close to that price advertised. If I spread my search out a ways I can find some around $20k but they are manufacturers buyback cars. I'm not sure I like that idea -- especially since the manufacturers buyback cars are priced where KBB says it should be priced with a clean title.
It's also a little strange that when I google prices for used volts all the articles are about how and why the used prices are so low.
 

·
Registered
Joined
·
675 Posts
...
It's also a little strange that when I google prices for used volts all the articles are about how and why the used prices are so low.
I think gen1 Volts are more affordable as used cars then gen2 which is still GM's latest and greatest technology. 53 miles, 42mpg on regular gas, more acceleration off the line.... You might have to wait another year or two to get an affordable used gen2.
 

·
Registered
Joined
·
28 Posts
Discussion Starter #14
+1. Such a simple answer!
Lease is not an option of me. I put too may miles on my cars.
Anyone have a guess on why there is such a discrepancy between KBB retail price and asking prices. The volts I've found that are near the KBB retail price are manufacturers buyback cars.
 

·
Registered
Joined
·
193 Posts
Lease is not an option of me. I put too may miles on my cars.
Anyone have a guess on why there is such a discrepancy between KBB retail price and asking prices. The volts I've found that are near the KBB retail price are manufacturers buyback cars.
2016 was a limited release model year, mostly in California if I recall correctly. There are zero 2016 Volts for sale within 100 miles of DFW on cars.com and only 1 within 500 miles. Unfortunately, it appears you are looking for a unicorn.
 

·
Registered
Joined
·
28 Posts
Discussion Starter #16
2016 was a limited release model year, mostly in California if I recall correctly. There are zero 2016 Volts for sale within 100 miles of DFW on cars.com and only 1 within 500 miles. Unfortunately, it appears you are looking for a unicorn.
Oh. I did not know that 2016 was limited release. That would explain why they are so hard to find. Still seems like the depreciation of a used 2017 doesn't show the $7500 tax credit.
 

·
Registered
Joined
·
28 Posts
Discussion Starter #17
I just located another used 2017 with low miles listed just $100 over the KBB suggested retail price of $23,346 Seems good enough. After contacting the dealer it ends up that it is once again, a manufacturer buyback vehicle. So far every single volt I've located that was anywhere near the KBB suggested price has been a manufacturer buyback car. I'm starting to think that KBB may be off or the dealers don't really want to sell these cars (pretty sure it's not the latter).
 

·
Registered
Joined
·
1,265 Posts
Makes sure you negotiate really hard in person with the arguments you're making here. I've been watching Volt prices for a few years and even found with Gen 1 that "newer" used Volts were terrible deals (as advertised). Used cars are a big source of profit for dealers and they are trying to make a buck. Either they don't know, or are hoping buyers won't do the math you're doing. Probably the latter.
 

·
Registered
Joined
·
502 Posts
This has puzzled me since buying the 2015 $40k MSRP for less than half that price after IRS and CO tax credits. While I wimped out of the private seller market and traded it in on a 2017 Premier to net out basically (after tax) just the cost of the sales tax and registration for a two-year newer Volt, as an ancient economist, I wondered how I'd approach a private Volt seller in negotiations. Should I impute all available tax credits to his purchase cost, or start with KBB or equivalent, or both.

If a buyer approached me like this, I think I'd respond with a Presidential, "My income tax returns are none of your business," and KBB,or other Internet resources will be the basis of our negotiations.

Any thoughts on this?
 

·
Registered
Joined
·
13,679 Posts
This has puzzled me since buying the 2015 $40k MSRP for less than half that price after IRS and CO tax credits. While I wimped out of the private seller market and traded it in on a 2017 Premier to net out basically (after tax) just the cost of the sales tax and registration for a two-year newer Volt, as an ancient economist, I wondered how I'd approach a private Volt seller in negotiations. Should I impute all available tax credits to his purchase cost, or start with KBB or equivalent, or both.

If a buyer approached me like this, I think I'd respond with a Presidential, "My income tax returns are none of your business," and KBB,or other Internet resources will be the basis of our negotiations.

Any thoughts on this?
Do you have abnormally small hands to be able to pull this off? Joking aside buy and sell for more iou can. I loved into my gen1 volt as I got a similar deal to yours. But I'm not going back to the well over and over again as every time you do a vehicular transaction, there's a chance that emotions take over and the dealer gets you either coming or going, or both.but I come from a mindset of driving my vehicles into the ground. My 2004 CTS still puts a smile on my face as I shift through the gears and fenangle the clutch. Cars last far longer than most people keep them. Repairs are not nearly as expensive as people with fear, uncertainty, and doubt try to use as a reason to buy a new car..

So I say, don't even offer to sell your g2, drive it and enjoy.
 
1 - 20 of 37 Posts
Top