Federal Rebate problem if lease turned in early?

[Frank3]

My 2015 SEL lease is up on 2/28/18. Because I'm concerned about the new federal tax plan that will eliminate the $7500 rebate when I lease my new EV (probably a Chevy Bolt), I'd like to turn my eGolf in early. So, if I only end up leasing it for 34 months, does that mess anything up with the original $7500 rebate that my VW dealer got when I leased the eGolf? Something in the back of my mind tells me that I had to sign something saying I was going to keep the car for 36 months.

 

[forbin404]

My 2015 SEL lease is up on 2/28/18. Because I'm concerned about the new federal tax plan that will eliminate the $7500 rebate when I lease my new EV (probably a Chevy Bolt), I'd like to turn my eGolf in early. So, if I only end up leasing it for 34 months, does that mess anything up with the original $7500 rebate that my VW dealer got when I leased the eGolf? Something in the back of my mind tells me that I had to sign something saying I was going to keep the car for 36 months.

Your fine for Federal, it's California State but you are at 30 months so you are fine there too.
BTW Turning it in early means you owe VW 2 more payments.
You save on Insurance and W&T but still have to make 35,and 36 month payments.

 

[Frank3]

Thanks for the info. If I can get the $7500 fed credit, I'd gladly pay the last two payments on the car.

 

[miimura]

Thanks for the info. If I can get the $7500 fed credit, I'd gladly pay the last two payments on the car.

If that's the case, why turn it in early? Get it off your insurance?

 

[Frank3]

Thanks for the info. If I can get the $7500 fed credit, I'd gladly pay the last two payments on the car.

If that's the case, why turn it in early? Get it off your insurance?

Stilll not sure if $7500 federal tax credit will be around in 2018 once Congress finishes with their tax "reform" legislation.

 

[forbin404]

Thanks for the info. If I can get the $7500 fed credit, I'd gladly pay the last two payments on the car.

If that's the case, why turn it in early? Get it off your insurance?

Stilll not sure if $7500 federal tax credit will be around in 2018 once Congress finishes with their tax "reform" legislation.

I think miimura means 'Why not keep both'?

 

[GlennD]

The $7500 is a one time thing. VW already took the credits on a lease. If you purchased new assuming your taxes in the first year exceeded $7500 you would get the full credit on your taxes. Used or off lease cars do not qualify.