Car Buying Advice - Buy New or Used? Volt

pandapoopie

Hello everyone! Glad I found this forum! I'm finding so much good information here. Wondering if you guys help me out.

So I'm on the market for a Volt 2015+. General price range I'm seeing is ~$18,000 for a car with 30,000 miles or less. Once in a while there'll be a steal, but they disappear pretty quickly. But my question is this:

With that price range, wouldn't I be better off just paying a bit more and getting a new Volt?

~$30,000 (Costco Auto Sales) - $7,500 (federal refund) - $1,500 (CA refund. I've heard this might have run out of funds) =

Range $22,500-$21,000

Of course insurance and taxes will be a bit higher, but ~$4000 for a new car seems reasonable to me?

Am I missing something?

[Deleted User]

Hi @pandapoopie, The $7,500 isn't a rebate it is tax credit. Also, it is "up to $7,500" as it will depend on how much you "owe" on your taxes. This article explains the credit: https://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html

I believe the CA rebate is still available. This is something you would apply for after you purchase the vehicle. But like you mentioned, if CA runs out of funds then you are out of luck.

So, technically your net cost could be in the $22,500-$2,100 but once it again it depends on the tax credit you qualify for and if the funds are still available for the CA rebate.

I think if $4,000 isn't a problem for you, you can get the nicely redesigned Volt but if you're looking to save some money and get more options (leather, etc.) a used one might be the way to go!