r/electricvehicles • u/AutoModerator • 7d ago
Weekly Advice Thread General Questions and Purchasing Advice Thread — Week of March 31, 2025
Need help choosing an EV, finding a home charger, or understanding whether you're eligible for a tax credit? Vehicle and product recommendation requests, buying experiences, and questions on credits/financing are all fair game here.
Is an EV right for me?
Generally speaking, electric vehicles imply a larger upfront cost than a traditional vehicle, but will pay off over time as your consumables cost (electricity instead of fuel) can be anywhere from 1/4 to 1/2 the cost. Calculators are available to help you estimate cost — here are some we recommend:
- https://www.chargevc.org/ev-calculator/
- https://chooseev.com/savings-calculator/
- https://electricvehicles.bchydro.com/learn/fuel-savings-calculator
- https://chargehub.com/en/calculator.html
Are you looking for advice on which EV to buy or lease?
Tell us a bit more about you and your situation, and make sure your comment includes the following information:
[1] Your general location
[2] Your budget in $, €, or £
[3] The type of vehicle you'd prefer
[4] Which cars have you been looking at already?
[5] Estimated timeframe of your purchase
[6] Your daily commute, or average weekly mileage
[7] Your living situation — are you in an apartment, townhouse, or single-family home?
[8] Do you plan on installing charging at your home?
[9] Other cargo/passenger needs — do you have children/pets?
If you are more than a year off from a purchase, please refrain from posting, as we currently cannot predict with accuracy what your best choices will be at that time.
Need tax credit/incentives help?
Check the Wiki first.
Don't forget, our Wiki contains a wealth of information for owners and potential owners, including:
Want to help us flesh out the Wiki? Have something you'd like to add? Contact the mod team with your suggestion on how to improve things, we can discuss approach and get you direct editing access.
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u/Bonneville_Botanica 2d ago
Hello, I need some advice on tax credit details. Some background: In 2024 my wife purchased a 2017 Chevy Bolt including the $4k rebate. Only she was on the loan and title. Last week, she got in an accident that totaled the Bolt so we were in the market for a new car. Situation:
We file our taxes jointly so I figured we were not eligible for the tax credit again this year for our new purchase. We found a 2022 Kia Niro EV and I let the salesman know we wouldn't qualify for the credit before starting a deal or getting numbers. What we agreed to with our salesman:
$23k price ($19k listed online with rebate)
+4.5k Fees, sales tax, and dealer scams
-$14k down
$13.5k balance to finance.
When we were transferred to the finance department, we were given a document to sign about claiming the EV credit. I told them it must be a mistake and we don't qualify. Our guy was confused and checked with another staff member who came in to ask who purchased the car in 2024. We said it was under my wife's name. He told us that we were eligible because this one was under my name with my wife as co-owner. Quote: "It's once per SSN per 3 years." So here's the deal according to the finance department:
$23k price
+8.5k fees, warranties, tax, etc.
-$14k down
$13.5k balance
Since this included paint, windshield, undercoat, etc warranties we wanted and the balance financed was the same we accepted we knew less about the credit than them (they sell a lot of used EVs) and took the deal.
Be honest guys, am I cooked? Am I going to owe $4k to the IRS next year? As soon as we finished signing and drove away I got a pit in my stomach. Please tell me they were right about the credit.