Federal Tax Credit

[wazer]

How do I find out what the federal tax credit is for the 2015 Energi? I'm a little nervous because the Ford Build & Price config is only coming up with a $3557 incentive on a lease right now, when previously it was listed at $4007 for last year's model. 

[meyersnole]

How do I find out what the federal tax credit is for the 2015 Energi? I'm a little nervous because the Ford Build & Price config is only coming up with a $3557 incentive on a lease right now, when previously it was listed at $4007 for last year's model.

 

http://www.fueleconomy.gov/feg/taxphevb.shtml

 

Site still lists as $4007. Just remember that it is a tax credit, all do not qualify for the full amount.

 

Just re read your post and the 2015 tax code is not set in stone. There is even talk of increasing incentives for BEVs. I have not seen anything about lowering it though.

Edited August 15, 2014 at 12:24 AM by meyersnole

[Doug0716]

The tax code is for vehicles purchased after a certain date, with a phase out of after 200,000 vehicles sold by the manufacturer (which ford is closer to 75K), so it *should* remain the same.

http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-%28IRC-30-and-IRC-30D%29

[wazer]

I can confirm, from my recent purchase, that the current amount is $3,557 for MY2015.

[Dan's Energi]

The tax code is for vehicles purchased after a certain date, with a phase out of after 200,000 vehicles sold by the manufacturer (which ford is closer to 75K), so it *should* remain the same.

 

http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-%28IRC-30-and-IRC-30D%29

Where does that 75K number come from?

[jeff_h]

Where does that 75K number come from?

 

On the IRS site there is another page that lists the current number of vehicles per manufacturer, and Ford should be around 75K or so per the OP's post... so under the current law, Ford purchasers will probably be good for this credit for the next 3-6 years (only a rough guess based on past numbers, those likely eligible for the credit should check the progress page on the IRS site).

[Doug0716]

I can confirm, from my recent purchase, that the current amount is $3,557 for MY2015.

 

Wazer, did you buy or lease?  That is the number I've seen for the lease terms which is Ford just giving the credit back to the customer since they are not eligible to file for it on a lease, but Ford is not required to do so.  They could be keeping a portion of it for administrative costs.  For a purchase there has been no official publication from the IRS with a number for the 2015 year model so who gave you that number?

[Josh Benard]

$3,557 is the current lease incentive portion that Ford gives back to you for the tax credit (just ordered my 2015 for lease this past weekend). However, the tax credit for the 2015 for purchasers will be the same as the 2014 since the tax credit is a predetermined calculation based on the size of the battery included in the vehicle (the Volt gets like 35 miles on charge and gets the full 7500 for example).

 

 

Quote from IRC 30D doc:

"For vehicles acquired after December 31, 2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. The total amount of the credit allowed for a vehicle is limited to $7,500."

[henrym]

My dealer said that when you buy a Fusion Energi with a tax credit attached, you get the tax deduction. When you lease a Fusion Energi with a tax credit attached from Ford they get the deduction.  True or False?

[jeff_h]

My dealer said that when you buy a Fusion Energi with a tax credit attached, you get the tax deduction. When you lease a Fusion Energi with a tax credit attached from Ford they get the deduction.  True or False?

 

True - but if you look on Ford's site for current incentives, in the past they have treated that amount as a pass-though and granted the same amount as an incentive for the lease - see the below that I just copied/pasted from checking the incentives page, I believe $4,007 of the below referenced $6,507 is the pass-through amount of the credit Ford will claim.

 

 

With Equipment Group 700A. Not all buyers will qualify for Ford Credit Red Carpet Lease. Payments may vary; dealer determines price. Residency restrictions apply. Cash due at signing is after $6,507 cash back (PGM #50264). Take new retail delivery from dealer stock by 9/30/14. See dealer for qualifications and complete details. Vehicle shown may have optional equipment not included in payment.