Confused about Rebates

[liux43]

Hi everyone,

I live in the Orange County/Los Angeles area and looking to lease a 2014 Rav4 Ev, but just a little confused about the rebates offered.

I understand a $17,500 subvention incentive is being offered at the moment. I'd like to see the rebates are coming from, a breakdown essentially.

Also I have a 1996 celica that I'm looking to retire. I understand that the government is offering 1500 to retire older vehicle, but they are also offering an additional $3000 is leaaing/buying a full electric vehicle. I will effectively use this towards the down payment.

Ultimately, I will receive about 22k right off the bat from the subvention incentive and government buy back program; all without opening my wallet.

Do I have this information right?

 

[smkettner]

CA there is a $2,500 EV rebate but requires you to register the vehicle three years.

https://energycenter.org/clean-vehicle-rebate-project

I believe an additional $1,000 may soon be available for lower income buyers.

http://www.latimes.com/local/politics/la-me-pol-brown-electric-cars-20140922-story.html

Scrapping an old car I believe it must fail the smog check as the reason to scrap.

http://www.arb.ca.gov/msprog/avrp/avrp.htm

The RAV4-EV will be sold out and gone very soon. Hesitate and you will miss out.

 

[miimura]

You are in the South Coast AQMD region. This is their page about their scrapping program.

http://www.aqmd.gov/home/programs/community/old-vehicle-scrapping

1996 appears to be too new for this scrapping program.

 

[liux43]

thank you for the information. To clarify these rebates you listed is on top of the $17,500 subvention rebate, is that correct?

 

[miimura]

thank you for the information. To clarify these rebates you listed is on top of the $17,500 subvention rebate, is that correct?

The $17,500 lease incentive is purely from Toyota Financial Services. To get that you have to lease through TFS from an EV Certified Dealer and register the car in California.

You are also eligible for the $2,500 CVRP rebate from the State for any pure EV automobile. It takes a few months to get that check.

 

[smkettner]

No Federal $7,500 tax credit with lease. So the lease just nets you $10,000.

 

[Dianne]

...which is way better than $2500 on a buy.

 

[califteacher]

Hopefully, someone will see this posting here, even though it is not a reply to the original, but echoes it. I am under the impression that on a lease program, the dealer receives both the CA state and federal EV rebates. Can someone absolutely confirm this? I would hate to find out that I am leaving money "on the table." Thank you for replying to this lame question.

 

[arnolddeleon]

The dealer does NOT receive the CA state rebate. It is yours if you lease for 3 years (or more).

 

[dstjohn99]

Hopefully, someone will see this posting here, even though it is not a reply to the original, but echoes it. I am under the impression that on a lease program, the dealer receives both the CA state and federal EV rebates. Can someone absolutely confirm this? I would hate to find out that I am leaving money "on the table." Thank you for replying to this lame question.

There is a lease option to surrender the CA rebate to the dealer (as a down payment) in exchange for a lower lease payment. At least that was an option available when I leased mine from Dianne. I took the CA rebate. I got the check in 90 days or so. Now it will be another month before the car costs me anything out of pocket as the Rebate covers 5 months of lease payments.

 

[califteacher]

Although I am sure it has been addressed any number of times in this forum, I want to remind readers to double check the State and Federal rebates and be sure which if any they directly qualify for. Like many, my wife and I leased our 2014 Rav4 EV through a southern California Toyota dealer (Tustin Toyota). I just assumed that the dealer would get both the Federal Tax Credit and the CA State Rebate (paid by check, not tax related), and didn’t give it another thought. It isn’t easy to decipher the reams of paperwork that our lease generated.

In the midst of doing our taxes this spring, I decided to call the dealership and double check that they indeed got both the Federal Tax Credit and the CA State Rebate. I was quite surprised to learn that the dealership did not apply for the State Rebate, which in this case is $2,500.

I obviously rushed to apply for the State Rebate which arrived today—a sweet check for $2,500. Luckily, one can apply for the rebate up to 18 months after a lease or purchase.

If I can help just one other person avoid the mistake I almost made, this posting will be worth it. While I can’t comment on what procedure other dealers in CA followed regarding the rebate and tax credit, this was my experience.

 

[TonyWilliams]

That's great that you caught it!

It has been covered extensively when the cars were new (and still subject to the rebate).