Price paid for your Kia Niro - Page 28 - Kia Niro Forum
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post #271 of 276 (permalink) Old 06-27-2019, 08:58 AM
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I ended up in a 19 EX Premium PHEV lease for right about 31k out the door, including all taxes and fees, plus another 1275 left to pay off on my trade in. Probably would have been about the same to buy it after factoring in the tax rebate, but I did not want to fool with it. and would not have been much better off, if at all.
That's right about what I was able to get, but it took a long negotiation. I was ready to walk when they came back with a monthly lease that was $50 less than their "best" offer. I too was a little underwater with my trade, but since it never appeared on their web site for sale, my guess is they sold it quickly for a profit. Worked fine for me, as my monthly gas bill has dropped to almost nothing, and my electricity usage increase is almost unnoticeable.

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post #272 of 276 (permalink) Old 06-27-2019, 10:03 AM
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Quote:
Originally Posted by drewesque View Post
I ended up in a 19 EX Premium PHEV lease for right about 31k out the door, including all taxes and fees, plus another 1275 left to pay off on my trade in. Probably would have been about the same to buy it after factoring in the tax rebate, but I did not want to fool with it. and would not have been much better off, if at all.
And you don't have to wait until next year to file your taxes to get the credit back. With the lease cash, they're taking the tax credit right off the price of the car at the beginning. That's a great way to take advantage of the tax credit especially if you don't have the tax liability to take it anyway.

Paul
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post #273 of 276 (permalink) Old 06-27-2019, 12:41 PM
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@TheSilverFlash . You don't have to wait until next year to get the full federal credit. Just stop withholding your taxes and you'll start getting the credit one paycheck at a time until EOY.

The Niro PHEV seems to be holding it's value fairly well, so if you purchase, you still have an asset after 3 years that you can sell. So it really depends on whether you've paid more for the lease after 3 years vs how much the Niro's worth after 3 years if you buy. Only you know the terms and total cost of the lease (unless you share full details), so it's unknown to say leasing was a better choice IMO.

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post #274 of 276 (permalink) Old 06-28-2019, 07:50 AM
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@TheSilverFlash . You don't have to wait until next year to get the full federal credit. Just stop withholding your taxes and you'll start getting the credit one paycheck at a time until EOY.
I would encourage anyone to consult with a tax professional before stopping withholding. That seems like reckless advice.

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post #275 of 276 (permalink) Old 06-28-2019, 03:15 PM
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Changing the number of exemptions midyear is legal. If you go too far and have to pay a large amount of taxes at the end of the year, there can be penalties and/or interest due on top of back taxes. Most people enjoy their large tax refunds and are happy to give the government the float (not much in this era of low interest rates) so this is a fringe activity anyway.
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post #276 of 276 (permalink) Old 07-01-2019, 01:22 AM
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SilverFlash—I'd encourage you to consult with a tax professional before considering it reckless .

At the moment of purchase, your tax liability drops $7500 in the same way that one would modify withholdings if you had twins and expected to claim $4000 in child credits. Do you see my point there? IMO, it's reckless to wait a year to claim money that was yours to begin with.

I've claimed the federal EV credit 4 times already, and will be claiming a 5th for 2019. Each time I've modified my withholding early in the year to reduce/prevent getting any money back after filing.

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